T & W
FINANCIAL SERVICES COMPANY, L.L.C. 0000 Xxxxxxx Xxx. X., Xxxxxx XX 00000
X.X. Xxx 0000, Xxxxxxx Xxx, XX 00000 LEASE NUMBER: 1 11291901
--------------------------------------------------------------------------------
LESSEE: LABOR READY, INC.
ADDRESS: 0000 Xxxxx 00xx Xxxxxx EQUIPMENT: 000 X. Xxxx Xx. (store 295)
Xxxxxx, XX 00000 LOCATION: Xxxxxx XX 00000 (Durham County)
EQUIPMENT & VENDOR(S): SEE SCHEDULE "A" ATTACHED HERETO AND MADE A PART HEREOF
TERMS: 84 MONTHLY RENTALS OF $224.92 + APPLICABLE NC TAX OF 13.50 = 238.42
(U.S.) SECURITY DEPOSIT: $238.42
--------------------------------------------------------------------------
TERMS AND CONDITIONS OF LEASE
1. LEASE. Lessee hereby leases from Lessor, and Lessor leases to Lessee, the
personal property described above, together with any replacement parts,
additions, repairs or accessories now or hereafter incorporated in or affixed to
it (hereafter referred to as the "Equipment").
2. ACCEPTANCE OF EQUIPMENT. Lessee agrees to inspect the Equipment and to
execute an Acknowledgement and Acceptance of Equipment by Lessee notice as
provided by Lessor, after the Equipment has been delivered and after Lessee is
satisfied that the Equipment is satisfactory in every respect Lessee hereby
authorizes Lessor to insert in this Lease serial numbers or other identifying
data with respect to the Equipment.
--------------------------------------------------------------------------------
3. DISCLAIMER OF WARRANTIES AND CLAIMS: LIMITATION OF REMEDIES. THERE ARE NO
WARRANTIES BY OR ON BEHALF OF LESSOR. Lessee acknowledges and agrees by his
signature below as follows:
(a) LESSOR MAKES NO WARRANTIES EITHER EXPRESS OR IMPLIED AS TO THE
CONDITION OF THE EQUIPMENT, ITS MERCHANTABILITY, ITS FITNESS OR SUITABILITY FOR
ANY PARTICULAR PURPOSE, ITS DESIGN, ITS CAPACITY, ITS QUALITY, OR WITH RESPECT
TO ANY CHARACTER-ISTICS OF THE EQUIPMENT;
(b) Lessee has fully inspected the Equipment which it has requested
Lessor to acquire and lease to Lessee, and the Equipment is in good condition
and to Lessee's complete satisfaction;
(c) Lessee leases the Equipment "as is" and with all faults;
(d) Lessee specifically acknowledges that the Equipment is leased to
Lessee soley for commercial or business purposes and not for personal, family,
household or agricultural purposes;
(e) If the Equipment is not properly installed, does not operate as
represented or warranted by the supplier or manufacturer, or is unsatisfactory
for any reason, regardless of cause or consequence, Lessee's only remedy, if
any, shall be against the suppiler or manufacturer of the Equipment and not
against Lessor;
(f) Provided Lessee is not in default under this Lease, Lessor assigns
to Lessee any warranties made by the supplier or the manufacturer of the
Equipment:
(g) LESSEE SHALL HAVE NO REMEDY FOR CONSEQUENTIAL OR INCIDENTAL
DAMAGES AGAINST LESSOR; and
(h) NO DEFECT, DAMAGE, OR UNFITNESS OF THE EQUIPMENT FOR ANY PURPOSE
SHALL RELIEVE LESSEE OF THE OBLIGATION TO PAY RENT OR RELIEVE LESSEE OF ANY
OTHER OBLIGATION UNDER THIS LEASE.
4. CHOICE OF LAW, JURISDICTION AND VENUE. This Lease shall not be effective
until signed by Lessor at its principal place of business listed above, Tacoma,
WA, and shall be considered to have been made and shall be construed under the
laws of the State of Washington. Lessee agrees that should any legal action,
suit, or proceeding by initiated by any part to this Agreement with regard to or
arising out of this Lease, or the Equipmant covered hereby, such action shall be
brought only in the Superior Court of the State of Washington in and for Xxxxxx
County and all parties consent to the jurisdiction of such Court as to all such
actions.
5. STATUTORY FINANCE LEASE. Lessee agrees and acknowledges that it is the intent
of both parties to this Lease that it qualify as a statutory finance lease under
Article 2A of the Uniform Commercial Code. Lessee acknowledges and agrees that
Lessee has selected both: (1) the Equipment; and (2) the supplier from whom
Lessor is to purchase the Equipment. Lessee acknowledges that Lessor has not
participated in any way in Lessee's selection of the Equipment or of the
suppiler, and Lessor has not selected, manufactured, or supplied the Equipment.
LESSEE IS ADVISED THAT IT MAY HAVE RIGHTS UNDER THE CONTRACT EVIDENCING THE
LESSOR'S PURCHASE OF THE EQUIPMENT FROM THE SUPPLIER CHOSEN BY LESSEE AND THAT
LESSEE SHOULD CONTACT THE SUPPLIER OF THE EQUIPMENT FOR A DESCRIPTION OF ANY
SUCH RIGHTS.
6. ASSIGNMENT BY LESSEE PROHIBITED. Lessee is expressly prohibited from making
any assignment of this Lease, subleasing the Equipment or any interest therein,
pledging or transferring the Lease, or otherwise disposing of the Equipment
covered hereby, in the absence of prior written consent of Lessor.
7. RENTAL PAYMENTS. Lessee agrees to pay rent in accordance with the terms
herein, the first monthly payment to be due on the 15TH DAY OF FEBRUARY, 1998,
and a like amount on the same day of each succeeding calendar month thereafter,
payments to be made at Lessor's address set forth above, or as otherwise
directed by Lessor.
(a) THIS LEASE IS NOT CANCELABLE OR TERMINABLE BY LESSEE.
(b) SEE REVERSE SIDE FOR ADDITIONAL TERMS AND CONDITIONS WHICH ARE A PART
OF THIS LEASE.
(c) LESSEE UNDERSTANDS AND ACKNOWLEDGES THAT NO BROKER OR SUPPLIER, NOR ANY
SALESMAN, BROKER, OR AGENT OF ANY BROKER OR SUPPLIER IS AN AGENT OF LESSOR, NO
BROKER OR SUPPLIER, NOR ANY SALESMAN, BROKER, OR AGENT OF ANY BROKER OR SUPPLIER
IS AUTHORIZED TO WAIVE OR ALTER ANY TERM OR CONDITION OF THIS LEASE ANO NO
REPRESENTATION AS TO THE EQUIPMENT OR ANY OTHER MATTER BY THE BROKER OR
SUPPLIER, NOR ANY SALESMAN, BROKER, OR AGENT OF ANY BROKER OR SUPPLIER, SHALL IN
ANY WAY AFFECT LESSEE'S DUTY TO PAY THE RENTALS AND TO PERFORM LESSEE'S
OBLIGATIONS SET FORTH IN THIS LEASE.
LESSEE ACKNOWLEDGES HAVING READ AND UNDERSTOOD ALL OF THE TERMS AND
PROVISIONS OF THIS LEASE, INCLUDING THE REVERSE SIDE HEREOF, AND AGREES TO BE
BOUND BY ALL OF THE TERMS AND PROVISIONS CONTAINED HEREIN UPON THE EXECUTION OF
THIS LEASE AGREEMENT OR EARLIER ACCEPTANCE OF THE LEASED EQUIPMENT.
LESSOR: T & W FINANCIAL SERVICES COMPANY L.L.C. LESSEE: LABOR READY, INC.
/s/ Xxxxxxx Xxxxx DATE 1/15/98 /s/ Xxxxxx X. Xxxxxx DATE 1/14/98
---------------------- --------- ---------------------------- ----------
Xxxxxx X. Xxxxxx Assistant Treasurer
8. COMMENCEMENT AND EXPIRATION. This lease shall commence upon Lessor's
acceptance of it. Lessor shall have no obligation to Lessee under this Lease if
the Equipment, for whatever reason, is not delivered to Lessee within 90 days
after Lessee signs this Lease. Lessor shall have no obligation to Lessee under
this Lease if Lessee fails to execute and deliver to Lessor an Acknowledgement
and Acceptance of Equipment by Lessee notice for the Equipment within 30 days
after the Equipment is delivered to Lessee. Unless earlier terminated or
cancelled by Lessor, this Lease shall expire upon the expiration of the number
of months (following Lessee's acceptance of the Equipment) set forth in "Term of
Lease" above.
9. SECURITY DEPOSIT. As security for the prompt and full payment of the
amounts due under this Lease, and Lessee's complete performance of all of its
obligations under this Lease, and any extension or renewal hereof, Lessee has
deposited with Lessor the security amount set forth in the section show as
"Security Deposit". In the event any default shall be made in the performance
of any of Lessee's obligations under this Lease, Lessor shall have the right,
but shall not be obligated, to apply the security deposit to the curing of such
default. Within 15 days after Lessor mails notice to Lessee that Lessor has
applied any portion of the security deposit to the curing of any default, Lessee
shall restore said security deposit to the full amount set forth above. On the
expiration or earlier termination of cancellation of this Lease, or any
extension or renewal hereof, provided Lessee has paid all of the rent called for
and fully performed all other provisions of this Lease, Lessor will return to
the Lessee any then remaining balance of said security deposit, without
interest. Said security deposit may be commingled with Lessor's other funds.
10. LIMITED PREARRANGED AMENDMENTS; SPECIFIC POWER OF ATTORNEY. In the event
it is necessary to amend the terms of this Lease to reflect a change in one more
of the following conditions:
(a) Lessor's actual cost of procuring the Equipment, or
(b) Lessor's actual cost of providing the Equipment to Lessee, or
(c) A change in rental payments a result of (a) or (b) above, or
(d) Description of the Equipment;
Lessee agrees that any such amendment shall be described in a letter from Lessor
to Lessee, and unless within 15 days after the date of such letter Lessee
objects in writing to Lessor, this Lease shall be deemed amended and such
amendments shall be incorporated in this Lease herein as if originally set
forth.
Lessee grants to Lessor a specific power of attorney for Lessor to use as
follows: (1) Lessor may sign and file on Lessee's behalf any document Lessor
deems necessary to perfect or protect Lessor's interest in the Equipment or
pursuant to the Uniform Commercial Code; and (2) Lessor may sign, endorse or
negotiate for Lessor's benefit any instrument representing proceeds from any
policy of insurance covering the Equipment.
11. LOCATION. The Equipment shall be kept at the location specified above or,
if none is specified, at Lessee's address as set forth above and shall not be
removed without Lessor's prior written consent.
12. USE. Lessee shall use the Equipment in a careful manner, make all
necessary repairs at Lessee's expense, shall comply with all laws relating to
its possession, use, or maintenance, and shall not make any alterations,
additions or improvements to the Equipment without Lessor's prior written
consent. All additions, repairs or improvements made to the Equipment shall
belong to Lessor.
13. OWNERSHIP; PERSONALTY. The Equipment is, and shall remain, the property of
Lessor, and Lessee shall have no right, title, or interest in the Equipment
except as expressly set forth in this Lease. The Equipment shall remain
personal property even though installed in or attached to real property.
14. SURRENDER. By this Lease, Lessee acquires no ownership rights in the
Equipment, and has no option to purchase same. Upon the expiration, or earlier
termination or cancellation of this Lease, or in the event of default under
Paragraph 22 hereof, Lessee agrees to pay a termination fee of $150.00 and, at
its expense, shall return the equipment in good repair, ordinary wear and tear
resulting from proper use thereof alone expected, by delivering it, packed and
ready for shipment, to such place or carrier as Lessor may specify. In the
event Lessee fails to return the equipment to Lessor as directed, Lessor is
entitled to charge and Lessee shall be obligated to pay rent to Lessor at the
same rate provided herein, as a month-to-month lease, until the equipment is
return to Lessor.
15. RENEWAL. At the expiration of the Lease, Lessee shall return the Equipment
in accordance with Paragraph 14 hereof. At Lessor's option, this Lease may be
continued on a month-to-month basis until 30 days after Lessee returns the
Equipment to Lessor. In the event the Lease is so continued, Lessee shall be
assessed and agrees to pay a renewal fee of $150.00 and, in additon, shall pay
to Lessor rentals in the same periodic amounts indicated under "Amount of Each
Payment," above.
16. LOSS AND DAMAGE. Lessee shall at all times after signing this Lease bear
the enire risk of loss, theft, damage or destruction of the Equipment from any
cause whatsoever, and no loss, theft, damage or destruction of the Equipment
shall relieve Lessee of the obligation to pay rent or to comply with any other
obligation under this Lease. In the event of damage to any part of the
Equipment, Lessee shall immediately place the same in good repair at Lessee's
expense. If Lessor determines that any part of the Equipment is lost, stolen,
destroyed, or damaged beyond repair, Lessee shall, at Lessee's option do one of
the following:
(a) Replace the same with like equipment in good repair, acceptable to
Lessor; or
(b) Pay Lessor in cash the following: (i) all amounts due by Lessee to
Lessor under this Lease up to the date of the Loss; (ii) the
accelerated balance of the total amounts due for the remaining term
of this Lease attributable to said item, discounted to present value
at a discount rate of 6% as of the date of loss; and , (iii) the
Lessor's estimate as of the time this Lease was entered into of
Lessor's residual interest in the Equipment discounted to present
value at a discount rate of 6%, as of the date of loss. Upon
Lessor's receipt of payment as set forth above, Lessee shall be
entitled to title to the Equipment without any warranties. If
insurance proceeds are used to fully comply with this subparagraph,
the balance of any such proceeds shall go to Lessee to compensate
for loss of use of the Equipment for the remaining term of the Lease.
17. INSURANCE; LIENS; TAXES. Lessee shall provide and maintain insurance
against loss, theft, damage, or destruction of the Equipment in an amount not
less than the full replacement value of the Equipment, with loss payable to
Lessor. Lessee also shall provide and maintain comprehensive general all-risk
liability insurance including but not limited to product liability coverage,
insuring Lessor and Lessee, with a severability of interest endorsement, or its
equivalent against any and all loss or liability for all damages, either to
persons or property or otherwise, which might result from or happen in
connection with the condition, use, or operation of the Equipment, with such
limits and with an insurer satisfactory to Lessor. Each policy shall expressly
provide that said insurance as to Lessor and its assigns shall not be
invalidated by any act, omission, or neglect of Lessee and cannot be cancelled
without 30 day's prior written notice to Lessor. As to each policy Lessee shall
furnish to Lessor a certificate of insurance from the insurer, which certificate
shall evidence the insurance coverage required by this paragraph. Lessor shall
have no obligation to ascertain the existance of or provide any insurance
coverage for the Equipment or for Lessee's benefit.
Lessee shall keep the Equipment free and clear of all levies, liens, and
encumbrances. Lessee shall pay all charges and taxes (local, state and federal)
which may now or hereafter upon the ownership, leasing, rental, sale, purchase,
possession, or use of the Equipment, excluding, however, all taxes on or
measured by Lessor's net income. If Lessee fails to procure or maintain said
insurance or to pay said charges or taxes. In that event, Lessor shall have the
right, but shall not be obligated, to effect such insurance, or pay such charges
or taxes, Lessor shall notify Lessee of such payment and Lessee shall repay to
Lessor the cost thereof within 15 days after such notice is mailed to Lessee.
18. INDEMNITY. Lessee shall idemnify Lessor against any claims, actions,
damages or liabilities, including all attorney fees, arising out of or connected
with Equipment, without limitation. Such indemnification shall survive the
expiration, cancellation, or termination of this Lease. Lessee waives any
immunity lessee may have under any industrial insurance act, with regard to
indemnification of Lessor.
19. ASSIGNMENT BY LESSOR. Any assignee of Lessor shall have all of the rights
but none of the obligations of Lessor under this Lease. Lessee shall recognize
and hereby consents to any assignment of this Lease by Lessor, and shall not
assert against the assignee any defense, conterclaim, or setoff that Lessee may
have against Lessor. Subject to the foregoing, this Lease inures to the benefit
of and is binding upon the heirs, devisees, personal representatives, survivors,
successors in interest, and assignes the parties hereto.
20. SERVICE/COLLECTION CHARGES. If Lessee shall fail to make any payment
required by this Lease within 10 days of the due date thereof, Lessee shall pay
Lessor a service charge of 10% of the amount due; provided, that no more than
one such service charge shall be imposed on any delinquent payment; and in
additon, Lessee agrees to pay all collection charges and other expenses incurred
by Lessor as a result of the failure to timely make any payments under the
Lease. Furthermore, should Lessee default under the Lease result in Lessor
accelerating all unpaid future rentals, Lessee agrees to pay to Lessor interest
on the accelerated amount, and any other amount due or to become due under the
Lease, from the due date thereof until paid at the rate of 18% per annum or the
maximum rate allowed by law.
21. TIME OF ESSENCE. Time is of the essence, and this provision shall not be
impliedly waived by the acceptance on occasion of late or defective performance.
22. DEFAULT. Lessee shall be in default if:
(a) Lessee shall fail to make any payment due under the term of this
Lease for a period of 10 days from the due date thereof; or
(b) Lessee shall fail to observe, keep, or perform any provision of
this Lease, and such failure shall continue for a period of 10 days;
or
(c) Lessee has made any misleading or false statement in connection
with application for or performance of this Lease; or
(d) The equipment or any part thereof shall be subject to any lien,
levy, seizure, assignment, transfer, bulk transfer, encumbrance,
application, attachment, execution, sublease, or sale without prior
written consent of Lessor, or if Lessee shall abandon the Equipment or
permit any other entity or person to use the Equipment without the
prior written consent of the Lessor; or
(e) Lessee dies or ceases to exist; or
(f) Lessee defaults an any other agreement it has with Lessor; or
(g) Any guarantor of this Lease defaults on any obligation to Lessor
or any of the above listed events of default occur with respect to any
guarantor or any such guarantor files or has filed against it a
petition under the bankruptcy laws.
23. REMEDIES. If Lessee is in default, Lessor, with or without notice to
Lessee, shall have the right to exercise any one or more of the following
remedies, concurrently or separately, and without any election of remedies,
concurrently or separately, and without any election of remedies being deemed to
have been made:
(a) Lessor may enter upon Lessee's premises and without any court
order or other process of law may repossess and remove the Equipment,
or render the Equipment, or render the Equipment unusable without
removal, either with or without notice to Lessee. Lessee hereby
waives any trespass or right of action for damages by reason of such
entry, removal, or disabling. Any such repossession shall not
constitute a termination of this Lease unless Lessor so notifies
Lessee in writing;
(b) Lessor may require Lessee, at its expense, to return the Equipment
in good repair, ordinary wear and tear resulting from proper use
thereof alone excepted, by delivering it, packed and ready for
shipment, to such place or carrier as Lessor may specify;
(c) Lessor may cancel or terminate this Lease and may retain any and
all prior payments paid by Lessee;
(d) Lessor may declare all sums due and to become due under the Lease
immediately due and payable, including as to any or all items of
Equipment, without notice or demand to Lessee;
(e) Lessor may re-lease the Equipment, without notice to Lessee, to
any third party, upon such terms and conditions as Lessor alone shall
determine, or may sell the Equipment, without notice to Lessee at
private or public sale, at which sale Lessor may be the purchaser;
(f) Lessor may xxx for and recover from Lessee the sum of all unpaid
rents and other payments due under this Lease then accrued, all
accelerated future payments due under this Lease discounted to their
present value at a discount rate of 6% as of the date of default, plus
Lessor's estimate at the time of Lease was entered into of Lessor's
residual interest in the Equipment, reduced to present value at a
discount rate of 6% as of the date of default, less the net proceeds
of disposition, if any, of the Equipment;
(g) To pursue any other remedy available at law, by statute or in
equity.
No right or remedy herein conferred upon or reserved to Lessor is exclusive of
any other right or remedy herein, or by law or by equity provided or permitted,
but shall be cumulative of every other right or remedy given herein or now or
hereafter existing by law or equity or by statute or otherwise, and may be
enforced concurrently therewith or from time to time. No single or partial
exercise by Lessor of any right or remedy shall preclude any other or further
exercise of any other right or remedy.
24. UCC FILING. Lessee authorizes Lessor to file financing statements in
accordance with the Uniform Commercial Code signed only by the Lessor or one
signed by Lessor as Lessee's Attorney-in-fact which Lessee hereby grants the
Lessor.
25. MULTIPLE LESSEES. Lessor may, with consent of any one of the Lessees
hereunder, modify, extend, or change any of the terms hereof without consent or
knowledge of the others, without in any way releasing, waiving, or impairing any
right granted to Lessor against the others. Lessees and each of them are
jointly and severally responsible and liable to Lessor under this Lease.
26. EXPENSE OF ENFORCEMENT. In the event of any legal action with respect to
this Lease, the prevailing party in any such action shall by entitled to
reasonable attorney fees, including attorney fees incurred at the trial level,
including action in bankruptcy court, on appeal or review, or incurred without
action, suits, or proceedings, together with all costs and expenses incurred in
pursuit thereof.
27. ENTIRE AGREEMENT; NO ORAL MODIFICATIONS; NO WAIVER. This instrument
constitutes the entire agreement between Lessor and Lessee. No provision of the
lease shall be modified or rescinded unless in writing signed by a
representative of Lessor. Waiver by Lessor of any provision hereof in one
instance shall not constitute a waiver as to any other instance.
28. SEVERABILITY. This Lease is intended to constitute a valid and enforceable
legal instrument, and no provision of this Lease that may be deemed
unenforceable shall in any way invalidate any other provision or provisions
hereof, all of which shall remain in full force and effect.
SCHEDULE "A"
This Schedule is to be attached to and become a part of Lease No. 11291901
---------------
dated 1/15/98
-----------
QUANTITY | DESCRIPTION OF EQUIPMENT
--------------------------------------------------------------------------------
VENDOR 1: Diebold Incorporated
X.X. Xxx 0000
Xxxxxx XX 00000
(1) INTERBOLD 1064 1 SERIES FRONT LOAD LOBBY ATM
--------------------------------------------------------------------------------
This Schedule is hereby verified correct and the undersigned Lessee acknowledges
receipt of a copy.
LESSOR: T & W FINANCIAL SERVICES COMPANY L.L.C LESSEE: LABOR READY, INC.
/s/ Xxxxxxx Xxxxx /s/ Xxxxxx X. Xxxxxx
--------------------------------------- --------------------------------
Xxxxxx X. Xxxxxx Asst. Treasurer
--------------------------------------------------------------------------------
(1)Debtor(s) (Last Name First) and (2) Secured Party(ies) (Name(s) and
Address(es): Address(es):
Labor Ready, Inc. T&W Funding Company I, L.L.C.
000 X. Xxxx Xxxxxx Store #295 X.X. Xxx 0000
Xxxxxx, XX 00000
Xxxxxxx Xxx, XX 00000
00-0000000
--------------------------------------------------------------------------------
(3)(a) Collateral is or includes (4) Assignee(s) of Secured Party,
fixtures. Address(es):
(b) Timber, Minerals or Accounts
Subject to G.S. 25-9-103(5) are covered
(c) Crops Are Growing Or To Be
Grown*
On Real Property Described in Section (5).
If either block 3(a) or block 3(b)
applies describe real estate, including
record owner(s) in section (5).
--------------------------------------------------------------------------------
(5) This Financing Statement Covers the Following types (or items) of Property
11291901 Filed with: Durham
This is a protective lease filing covering the following personal property:
Debtor/Lessee grants to Creditor/Lessor herein a security interest in the
specific equipment described herein together with any and all accessions
including, but not limited to, any repair or warranty exchanges, additions or
replacements to such property and any proceeds from the sale of the property.
Equipment: INTERBOLD 1064 1 SERIES FRONT LOAD LOBBY ATM Lease#11291901
*On Farm Collateral Filing, Name County Debtor Resides in
Products of the Collateral Are Also Covered. (Cannot be Filed unles County
is named.)
--------------------------------------------------------------------------------
(6) Signatures: Debtor(s) Secured Party(ies) (or Assignees)
T & W Funding Company I, L.L.C.
/s/ Xxxxxx X. Xxxxxx
------------------------------------ ----------------------------------------
Labor Ready, Inc.
(By)
(By) ------------------------------------
----------------------------------- Signature of Secured Party Pemlitted
(1) FILING OFFICER COPY - NUMERICAL in Lieu of Debtor's Signature
(1) Collateral is subject to Security
Interst in Another jurisdiction and
Collateral Is Brought Into This State
Debtor's Location Changed To This State
(2) For Other Situations See:
G. S.25-9-402 (2)
--------------------------------------------------------------------------------
Prepared with UCC Direct for Windows Data File Services, Inc., X.X. Xxx 000,
Xxx Xxxx, XX 00000-0000 Tel (000) 000-0000 UCC-1
--------------------------------------------------------------------------------
Return Acknowledgement To:
Data File Services, Inc.
X.X. Xxx 000
Xxx Xxxx
XX 00000-0000
The UCC filing is pursuant to WASHINGTON UNIFORM COMMERCIAL CODE, Chapter 62A.9
RCW, to perfect a security Interest in the below named collateral
--------------------------------------------------------------------------------
1. DEBTOR(S) (see instruction #2) 2. FOR OFFICE USE ONLY - DO
Debtor 1 NOT WRITE IN THIS BOX
PERSONAL (last, first,
middle name and address) SSN:_________
BUSINESS (legal business
name and address) FEIN:________
Debtor 2
SSN:_____________
FEIN: ___________
Labor Ready, Inc.
0000 X. 00xx Xxxxxx
Xxxxxx, XX 00000
TRADE NAME, DBA, AKA
--------------------------------------------------------------------------------
3. SECURED PARTY(IES) (name and address) 4. ASSIGNEE(S) of SECURED PARTY(IES)
if applicable (name and address)
T&W Funding Company I, L.L.C.
X.X. Xxx 0000
Xxxxxxx Xxx, XX 00000 91 -1766212
(name and address)
--------------------------------------------------------------------------------
5. SECURED PARTY CONTACT PERSON:______________Phone: ______
--------------------------------------------------------------------------------
6. CHECK ONLY IF APPLICABLE: (For definitions of TRANSMITTING UTILITY AND
PRODUCTS OF COLLATERAL, see instruction sheet.)
Debtor is a Transmitting Utility Products of Collateral are also covered
Filed With: WASHINGTON
--------------------------------------------------------------------------------
7. THIS FINANCING STATEMENT covers the following collateral: (Attach
additional 8.5" x 11: sheet(s) if needed.)
This is a protective lease filing covering the following personal property:
Debtor/Lessee grants to Creditor/Lessor herein a security interest in the
specific equipment described herein together with any and all accessions
including, but not limited to, any repair or warranty exchanges, additions or
replacements to such property and any proceeds from the sale of the property.
Equipment: INTER-BOLD 1064 I SERIES FRONT LOAD LOBBY ATM
--------------------------------------------------------------------------------
8. RETURN ACKNOWLEDGEMENT COPY TO: 9. File With
(name and address) UNIFORM COMMERCIAL CODE
Data File Services, Inc DEPARTMENT OF LICENSING
X.X. Xxx 000 X.X. XXX 0000
Xxx Xxxx, XX 00000-000 Xxxxxxx, XX 00000-0000
000-000-0000 000-000-0000
000-000-0000
MAKE CHECKS PAYABLE TO THE
DEPARTMENT OF LICENSING
--------------------------------------------------------------------------------
10. FOR OFFICE USE ONLY IMAGES TO BE
FILMED
--------------------------------------------------------------------------------
11. If collateral is described below,
this statement may be signed by the 1.________________________________
Secured Party instead of the Debtor. ORIGINAL FILING NUMBER
Please check the appropriate box,
complete the adjacent lines and box 2.__________________________________
13, if collateria is: FILING OFFICE WHERE FILED
Already subject to a security 3.__________________________________
interest in another jurisdiction FORMER NAME OF DEBTOR(S)
when it ws brought into this
state or when the debtor's
location was changed to this
state. (complete adjacent lines 1
and 2)
SEE ATTACHED
proceeds of the original
collateral described above in
which a security interest was
perfected. (complete adjacent
lines 1 and 2) listed on a filing
which has lapsed. (complete
adjacent lines 1 and 2)
listed on a filing which has
lapsed. (complete adjacent lines
1 and 2)
acquired after a change of name,
identity, or corporate structure
of the debtor(s). (complete
adjacent line 1,2 and 3)
--------------------------------------------------------------------------------
12. DEBTOR NAME(S) AND SIGNATURE(S): 13. SECURED PARTY NAME(S) AND
SIGNATURE(S) ARE REQUIRED IF BOX 11
Labor Ready, Inc. HAS BEEN COMPLETED.
_____________________________________ T & W Funding Company I, L.L.C.
TYPE NAME(S) OF DEBTOR(S); AS IT
APPEARS IN BOX 1. _____________________________________
/s/ Xxxxxx X. Xxxxxx TYPE NAME(S) OF SECURED PARTY(IES) AS
___________________________________ IT APPEARS IN XXX 0 XX 0.
XXXXXXXXX(X) XX XXXXXX(X) _____________________________________
SIGNATURE(S) OF SECURED PARTY(IES)
___________________________________
SIGNATURE(S) OF DEBTOR(S) _____________________________________
SIGNATURE(S) OF SECURED PARTY(IES)
--------------------------------------------------------------------------------
(1) FILING OFFICER - INDEX Prepared with UCC Direct for Window Data File
Services, Inc. X.X. Xxx 000, Xxx Xxxx, XX 00000-0000
Tel (000) 000-0000
--------------------------------------------------------------------------------
DELIVERY & ACCEPTANCE
T & W 0000 Xxxxxxx Xxx. E. LEASE NUMBER: 11291901
FINANCIAL SERVICES COMPANY L.L.C. Xxxxxx, XX 00000
X.X. Xxx 0000
Xxxxxxx Xxx, XX 00000 DATE OF LEASE: 1/15/98
--------------------------------------------------------------------------------
LESSEE: LABOR READY, INC.
SEE SCHEDULE "A" ATTACHED HERETO AND MADE A PART HEREOF
ACKNOWLEDGEMENT AND ACCEPTANCE
OF EQUIPMENT BY LESSEE
Lessee hereby acknowledges that the Equipment described above has been received
in good condition and repair, has been properly installed, tested, and
inspected, and is operating satisfactorily in all respects for all of Lessee's
intended uses and purposes. Lessee hereby accepts unconditionally and
irrevocably the Equipment.
By signature below, Lessee specifically authorizes and requests Lessor to make
payment to the supplier of the Equipment. Lessee agrees that said Equipment has
not been delivered, installed, or accepted on a trial basis.
WITH THE DELIVERY OF THIS DOCUMENT TO LESSOR, LESSEE ACKNOWLEDGES AND AGREES
THAT LESSEE'S OBLIGATIONS TO LESSOR BECOME ABSOLUTE AND IRREVOCABLE AND LESSEE
SHALL BE FOREVER ESTOPPED FROM DENYING THE TRUTHFULNESS OF THE REPRESENTATIONS
MADE IN THIS DOCUMENT.
DATE OF ACCEPTANCE: LESSEE: LABOR READY, INC.
/s/ Xxxxxx X. Xxxxxx
----------------------------------------
January 14, 1998 Xxxxxx X. Xxxxxx Asst. Treasurer
----------------
IMPORTANT: THIS DOCUMENT HAS LEGAL
AND FINANCIAL CONSEQUENCES TO YOU.
DO NOT SIGN THIS DOCUMENT UNTIL YOU
HAVE ACTUALLY RECEIVED ALL OF THE
EQUIPMENT AND ARE COMPLETELY
SATISFIED WITH IT.
INSURANCE AUTHORIZATION LETTER
T & W 0000 Xxxxxxx Xxx. E. LEASE NUMBER: 11291901
FINANCIAL SERVICES COMPANY L.L.C. Xxxxxx, XX 00000
X.X. Xxx 0000
Xxxxxxx Xxx, XX 00000 DATE OF LEASE: 1/15/98
To: NAME________________________ For Office Use Only/Date:___________________
ADDRESS_____________________ Policy #:___________________________________
CITY/STATE/ZIP______________ Carrier:____________________________________
(AREA CODE) PHONE #_________ Expiration Date:____________________________
CONTACT PERSON______________
FROM: LABOR READY, INC.
0000 X. 00xx Xx.
Xxxxxx XX 00000
We have entered into a lease agreement with T & W FINANCIAL SERVICES COMPANY
L.L.C. / FUNDING COMPANY I, L.L.C. or its Assignee for the following equipment,
with a value of $13,992.80.
SEE SCHEDULE "A" ATTACHED HERETO AND MADE A PART HEREOF
This equipment is located at: 000 X. XXXX XX. (XXXXX 000), XXXXXX XX 00000.
This is a net lease and we are responsible for the insurance cost. Please see
that we have immediate coverage and notify Lessor at once in the form of a copy
of the insurance policy or a Certificate of Insurance. If the letter is sent,
please include therein the standard 10-day notice of cancellation clause.
xxx PHYSICAL DAMAGE: Insurance is to be provided for fire, theft, extended
coverage, vandalism and malicious mischief for the full value of the
equipment. Lessor is to be named as LOSS PAYEE. AS ITS INTEREST MAY
APPEAR.
LIABILITY: Coverage should be written with minimum limits of
S100,000/300,000 for BODILY INJURY and $50,000 PROPERTY DAMAGE.
Lessor is to be named as ADDITIONAL INSURED.
TITLED VEHICLE LIMITS: The minimum limits for EACH vehicle lease shall be:
Bodily Injury Rability per individual $500,000.00
Bodily Injury liability per accident $500,000.00
Property Damage liability $250,000.00
Fire, Theft and Comprehensive FULL
If you have any questions, please call T&W Leasing, Inc. Insurance Department at
0(000)000-0000.
Thank you.
/s/ Xxxxxx X. Xxxxxx
---------------------------------
Xxxxxx X. Xxxxxx Asst. Treasurer
EXHIBIT "A"
T & W 6416 Pacific Hwy. E.
FINANCIAL SERVICES COMPANY L.L.C. Xxxxxx, XX 00000
X.X. Xxx 0000
Xxxxxxx Xxx, XX 00000
Lessee guarantees to Lessor that the net sales proceeds from the sale of
the equipment at the end of the term of the Lease shall be $1.00. Lessor shall
use its best efforts to sell the equipment within sixty (60) days of the
termination of the Lease. The sale may be on any terms so long as Lessor acts in
good faith and in a commercially-reasonable manner, but so long as Lessor so
acts, it shall be conclusively presumed that the sales price is the fair market
value of the equipment and that the failure to realize the guaranteed residual
value is due to excessive use of the property or other cause, not anticipated
when the Lease was signed, and entitling the Lessor to additional rental. Under
this clause, if the net sales proceeds are less than the guaranteed residual
value, Lessee agrees to pay Lessor in cash, the difference within thirty (30)
days after the date of sale.
Attached to and made a part of that certain Equipment Lease Agreement dated
1/15/98 , between LABOR READY. INC., as Lessee, and T & W FINANCIAL SERVICES
COMPANY L.L.C., as Lessor.
LESSOR: T&W FINANCIAL SERVICES COMPANY L.L.C. LESSEE: LABOR READY, INC.
/s/ Xxxxxxx Xxxxx /s/ Xxxxxx X. Xxxxxx
------------------------------------- --------------------------------
Xxxxxx X. Xxxxxx Asst. Treasurer
