EXHIBIT 10.62
KDC FINANCIAL
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ACCOUNT NO. ___________
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SECURITY AGREEMENT - CONDITIONAL SALES CONTRACT
Subject to the Terms and Conditions herein contained, the Seller hereby agrees
to sell, and the Buyer having been quoted and offered both a cash sale price,
payable immediately or within a limited number of days, and a contract time
price which permits the Buyer to purchase the property now but pay in
installments over an extended period of time, hereby agrees to buy, the
following described property ("property") on a contract time price basis set
forth below. The contract time price is more than the cash sales price because
it includes charges by the Seller to compensate the Seller for having to wait a
period of time before collecting its full purchase price and for taking a risk
in waiting such period of time. The property is to be used only for commercial
or business purposes, includes all accessories and attachments, and shall,
except as permitted by Paragraph 7 on pages 4 and 5 hereof, be located at
Buyer's Address set forth immediately below.
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SELLER NAME & LOCATION BUYER NAME & ADDRESS/LOCATION
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NAME: LEGAL NAME:
KOMATSU EQUIPMENT COMPANY MEADOW VALLEY CONTRACTORS, INC
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MAILING ADDRESS: CITY:
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ADDRESS: X.X. XXX 00000 XXXXXXX
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2350 WEST 1500 SOUTH COUNTY: STATE: ZIP: TELEPHONE:
XXXXXXXX XX 00000-0000 (000) 000-0000
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CITY: PHYSICAL LOCATION: CITY:
XXXX XXXX XXXX X.X. XXX 00000 XXXXXXX
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STATE: ZIP: COUNTY: STATE: ZIP: FED. I.D. / SSN:
UT 84104 XXXXXXXX XX 00000-0000 00-0000000
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PROPERTY DESCRIPTION
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QUANTITY NEW / USED MAKE MODEL DESCRIPTION SERIAL NUM PRICE
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1 New Komatsu PC220LC-6 HYDRAULIC EXCAVATOR A82079 $205,250.00
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TRADE-IN EQUIPMENT DESCRIPTION 1. SALES PRICE: $205,250.00
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2. DELIVERY, INSTALLATION,
REPAIR OR OTHER SERVICE
CHARGES IF ANY: $0.00
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3. SALES TAX: $ 7,269.50
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4. CASH PRICE
(INVOICE, TAX, SERVICE CHARGES): $212,519.50
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5A. CASH $78,000.00
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B. NET TRADE-IN
ALLOWANCE: $ 0.00
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SCHEDULE OF PAYMENTS C. LESS INSURANCE
PREMIUM: $ 0.00
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BUYER AGREES TO PAY SELLER, OR IF THIS CONTRACT IS ASSIGNED TO ASSIGNEE
OF SELLER, THE "TOTAL OF PAYMENTS" (ITEM 10) IN ACCORDANCE WITH THE
FOLLOWING SCHEDULE PAYMENTS IN NUMBER AND AMOUNT ARE DUE EACH SUCCESSIVE
MONTH ON THE SAME DAY AS THE STARTING DATE
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NUMBER OF STARTING DATE ENDING DATE AMOUNT OF EACH TOTAL TOTAL DOWN PAYMENT
PAYMENTS PAYMENTS (5A + 5B - 5C) $ 78,000.00
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36 02-01-1998 01-01-2001 $ 4,130.55 $148,699.80 6. UNPAID BALANCE OF CASH PRICE
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(4 LESS 5) $134,519.50
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7A. CERT. OF TITLE & $ 0.00
LIEN FILING FEE:
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B. OTHER FEES: $250.00
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TOTAL OTHER CHARGES $ 250.000
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8. UNPAID BALANCE (AMOUNT
FINANCED): (TOTAL OF 6 & 7) $134,769.50
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9. FINANCE CHARGE $ 13,930.30
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36 TOTAL NUMBER OF PAYMENTS TOTAL OF PAYMENTS(10) $148,699.80 10. TOTAL OF PAYMENTS
(TOTAL OF 8 & 9) $148,699.80
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DATE FINANCE BEGINS TO ACCRUE 11. TOTAL TIME PRICE:
(IF DIFFERENT THAN CONTRACT DATE): (TOTAL OF 4, 7 & 9) $226,699.80
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