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Exhibit 10.3 (d)
Lease No. 002-3003271
FIRST SECURITY LEASING COMPANY
LEASE SCHEDULE TO MASTER EQUIPMENT LEASE AGREEMENT
This Lease Schedule to Master Equipment Lease Agreement (the "Lease Schedule")
is entered into pursuant to the terms of the Master Equipment Lease Agreement
(the" Agreement") between the signatories hereof dated AUGUST 14, 1996 and
constitutes a separate lease (the "Lease") thereunder.
All the terms and conditions of the Agreement are hereby incorporated herein
and made a part hereof as if such terms and conditions were set forth in this
Lease Schedule at length and all capitalized terms not otherwise defined in
this Lease Schedule shall have the meaning set out in the Agreement. By their
execution and delivery of this Lease Schedule Lessor and Lessee hereby
reaffirm on and as of the date hereof all the terms, conditions, agreements,
representations and warranties contained in the Agreement. A copy of the
signed Agreement attached to the Lease Schedule, which attachment shall adopt
the copied signatures on the Agreement as of the date of the Lease Schedule,
shall constitute an original lease. A copy of the Agreement and tho Lease
Schedule shall alone constitute the chattel paper for purposes of perfecting a
security interest.
A) Description of Equipment ID New Invoice or of Purchase 1 quantity
Description Serial #
1 V A R I O US SEE ATTACHED INVOICES FOR New $158,818.27 VENDORS EaulPMENT
DESCRIPTION
TOTAL INVOICE PURCHASE PRICE: $158,818.27
B) Term.60 months.
C) Rental.
1. Monthly X 2. Advance quarterly Arrears X Semiannually Annually
3. Rental Payment Dates: September 19, 1997 and on the same day of each Month
with the final payment on August 19, 2002.
4. Basic Rental in an amount equal to 0.021321 of the total invoice purchase
price of all Items is payable on each Rental Payment Date.
5. Interim Rental in an amount equal to N/A of the invoice purchase price for
each Item for each day from and including the date of acceptance for such to
but excluding the first Rental Payment Date will be payable on the first
Rental Payment Date.
D) Residual Value. -0- of the invoice purchase price of each item.
E) Location. The Equipment shall be located at:
Address: 000 XXXX 0000 XXXXX XXXXXX, XX 00000 County: SALT LAKE
If required, the Equipment will be registered in UT.
F) Security Deposit. Concurrently with the execution hereof Lessee shall
deposit with Lessor the sum of N/A as a security deposit which Lessor may use
to satisfy any unpaid late charges, recording fees or other amounts due and
unpaid. Any unused portion of the deposit will be returned to Lessee without
interest upon expiration or earlier termination of the Lease and upon payment
of all sums then due and owing to Lessor, or Lessee may, at its option, apply
that unused balance of the security deposit toward the last Rental payment.
G) Insurance. The minimum amount of insurance to be provided by Lessee as
required under the terms of the Agreement shall be as follows:
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1. Liability:
$ 300.000.00 each individual
$ 300.000.00 each accident
$ 300.000.00 property damage liability
2. Physical Damage and Loss: $ 158,818.27
3. Additional riders, exclusions or special terms required by Lessor: N/A
H) Certificate of Acceptance.
Lessee, having entered into the Agreement and the Lease Schedule does hereby
certify to Lessor that as to the Equipment listed in Section A of the Lease
Schedule or any Exhibit attached and incorporated to the Lease Schedule:
1. The Equipment is of a size, design, capacity and manufacture selected by
Lessee, is in good condition and has been satisfactorily delivered and
installed. Lessee hereby expressly assumes all responsibilities in connection
with the delivery and installation thereof;
2. Lessee is satisfied that the Equipment is suitable for Lessee's purposes;
3. Unless otherwise indicated, the Equipment is new and unused on the date
hereof except for routine testing and inspection;
4. Upon payment of the Invoice Purchase Price(s) to the Vendor(s) indicated
there will be no liens, security interests or encumbrances against
the Equipment except the interest of Lessee under the Agreement;
5. There exists no Event of Default or condition which, but for the passing of
time or giving of notice or both, would constitute an Event of ; Default under
the Agreement; and
6. The Equipment is personal property and will not become either real
property, fixtures or inventory.
Lease No. 002-3003271
FIRST SECURITY LEASING COMPANY
LEASE SCHEDULE TO MASTER EQUIPMENT LEASE AGREEMENT
I) Other Terms. NONE
IN WITNESS WHEREOF, Lessor and Lessee have caused this
Lease Schedule to be duly executed on behalf of each of them on August 15,
1997 and the signatories warrant their authority to bind principals.
LESSEE: X.X. XXXXXX INCORPORATED LESSOR: FIRST SECURITY XXXX, X,X,
a (n) UTAH Corporation
By: By:
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Title: Title:
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Address: Address: c/o First Security Leasing
218 WEST 12650 SOUTH Company
XXXXXX, XX 00000 000 Xxxx Xxxxxxxx, 0xx Xxxxx
Xxxx Xxxx Xxxx, Xxxx 00000
