Exhibit 10.165
usbancorp
illegible
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Equipment Finance
LEASE NUMBER 1.12162.1
This Lease Extension is incorporated into and made a part of that certain Lease
Agreement dated November 10, 1998 and Lease Schedule Number 01 dated November
10, 1998 (the "Lease") between U.S. Bancorp Leasing & Financial ("Lessor") and
Meadow Valley Contractors ("Lessee").
Extension Term: The term of this Lease Extension shall be for a period of
eighteen months (18), commencing on November 20, 2001.
Payment Schedule: As Extension Rent, Lessee agrees to pay $7,526.02 per
month in Arr (plus any applicable sales/use taxes) commencing on November 20,
2001 and continuing on the same day of each succeeding month thereafter (or if
no such day, on the last day of the month).
Additional Terms and Conditions:
TITLE PASSAGE:
a. As long as no event of default has occurred and is continuing under
the Lease, Lessee shall have the option to purchase all, but not part, of the
Property at the end of the Term or any renewal thereof (the "Option") for a
purchase price of $1.00 (the "Purchase Price") Payment of the Purchase Price
must be received by Lessor on or before the last day of the Term. The Purchase
Price shall be deemed to be the "anticipated" or "estimated" residual value of
the Property. (as such terms are used in the Lease)
b. Upon receipt of payment of the Purchase Price together with any and
all applicable sales or other taxes due in conjunction therewith, and any and
all remaining sums or other amounts payable under this Schedule, Lessor shall
transfer all its right, title and interest in and to the Property to Lessee. The
Property shall be transferred "As Is" and "Where Is" without any express or
implied representations or warranties.
Except as specifically modified by this Lease Extension, Lessee reaffirms
all of the terms, conditions and covenants of the Lease.
IN WITNESS THEREOF, the undersigned approve and acknowledge this Lease
Extension.
LESSOR: LESSEE(S):
U.S. Bancorp Leasing & Financial Meadow Valley Contractors
By /s/ XXXXX X. XXXXX By /s/ XXXXXXX X. XXXXXX
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Xxxxx X. Xxxxx Xxxxxxx X. Xxxxxx
Vice President Vice President
Date: 12/21/01 Date: 12/20/01
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ADDRESS FOR ALL NOTICES
0000 X.X. Xxxxxx Xxxxxx
Xxxxxxxx, XX 00000
