Exhibit 10.10
MASTER EQUIPMENT LEASE AGREEMENT
THIS MASTER EQUIPMENT LEASE AGREEMENT, is made as of the 29th day
of November, 1999, by and between PCI Consulting & Leasing, Inc.,
(hereinafter referred to as "Lessor"), and TecStar Mfg. Company
(hereinafter referred to as "Lessee").
WITNESSETH:
For and in consideration of the mutual covenants and promises
hereinafter set forth, the parties hereto agree as follows:
1. LEASE. Lessor hereby leases to Lessee, and Lessee hereby
leases from Lessor, certain equipment under the numbered lease
agreements described in Exhibit A, which is attached hereto and
incorporated herein by reference.
2. TERM. The lease of each item of equipment set forth on
Exhibit A is on a month-to-month basis.
3. RENT. The monthly rent for each item of equipment shall
be the amount designated in Exhibit A.
4. ADDITIONAL TERMS AND CONDITIONS. This Master Equipment Lease
Agreement incorporates by reference the terms and conditions of the
form of Lease Agreement that is attached as Exhibit B. Any lease of
equipment by Lessee from Lessor shall be subject to the terms and
conditions of Exhibit B.
5. EXECUTION OF EXHIBITS. In connection with the lease of the
equipment referenced in this Master Equipment Lease Agreement, both
Lessor and Lessee have executed completed forms of Exhibit B. The
parties agree that, if and when additional equipment is leased from
Lessor by Lessee, additional forms of Exhibit B shall be executed by
the parties. In addition, in the event of any leases of additional
equipment from Lessor by Lessee, the parties shall add references to
such equipment to Exhibit A.
IN WITNESS WHEREOF, the parties hereto have executed this Master
Equipment Lease Agreement as of the date first above written.
PCI CONSULTING & LEASING, INC. TECSTAR MFG. COMPANY
("Lessor") ("Lessee")
By: XXXXX X. XXXXXXXX By: XXXXX XXXXXXXXX
As its: PARTNER As its: VP-FINANCE
EXHIBIT A
LEASE NUMBER LESSEE MONTHLY LEASE
(EXECUTED EX. B) Pymt. Amt.
2511002-1 TecStar Mfg. Company $ 14,600.00
2511004-1 TecStar Mfg. Company $ 3,625.00
2511007-1 TecStar Mfg. Company $ 4,700.00
2511008-1 TecStar Mfg. Company $ 1,575.00
2511009-1 TecStar Mfg. Company $ 275.00
2511010-1 TecStar Mfg. Company $ 13,175.00
2511011-3 TecStar Mfg. Company $ 2,300.00
2511012-3 TecStar Mfg. Company $ 1,425.00
2511013-1 TecStar Mfg. Company $ 10,950.00
2511014-3 TecStar Mfg. Company $ 100.00
2511015-1 TecStar Mfg. Company $ 5,800.00
2511016-2 TecStar Mfg. Company $ 350.00
2511017-2 TecStar Mfg. Company $ 150.00
2511018-1 TecStar Mfg. Company $ 1,275.00
2511019-2 TecStar Mfg. Company $ 1,000.00
2511020-2 TecStar Mfg. Company $ 8,325.00
2511021-1 TecStar Mfg. Company $ 6,100.00
2511022-1 TecStar Mfg. Company $ 16,450.00
2511023-1 TecStar Mfg. Company $ 2,675.00
2511024-1 TecStar Mfg. Company $ 6,300.00
2511025-4 TecStar Mfg. Company $ 2,200.00
2511026-1 TecStar Mfg. Company $ 4,675.00
2511027-1 TecStar Mfg. Company $ 7,900.00
2511029-1 TecStar Mfg. Company $ 14,625.00
2511030-1 TecStar Mfg. Company $ 8,525.00
2511031-1 TecStar Mfg. Company $ 3,850.00
2511032-1 TecStar Mfg. Company $ 6,025.00
2511034-1 TecStar Mfg. Company $ 16,750.00
The term of each lease of equipment referenced above is month-to-month.
EXHIBIT B
Lease Number:__________________
LEASE AGREEMENT
This Lease Agreement is entered into on the date shown on the COVER
SHEET hereof by and between the lessor and the lessee as therein
identified, for the equipment described on the COVER SHEET of this
lease.
1. LEASE. Lessor hereby leases to the lessee the "equipment" for
the number of months and for the lease payments as set forth on
the SCHEDULE OF VARIABLE LEASE TERMS ("Schedule") attached
hereto and incorporated herein by reference In the terms and
conditions stated in this lease. Lessee agrees that if there
is any inconsistency between the terms and conditions of this
lease and any of the lessee's requirements or other terms of
its written purchase orders, the terms of this lease shall
govern. The lease payments shall commence when the lessee has
received the equipment, and shall continue thereafter to be paid
on the same day of each succeeding month in the amount specified
and for the total number of payments as provided in the Schedule
of Variable Lease Terms as set forth above. All lease payments
by lessee shall be payable at the office of lessor or at such
other place as lessor may from time-to-time designate in
writing. Lessee hereby acknowledges that all sums advanced at
the execution of this lease shall be fully earned by lessor upon
receipt, and that all such sums shall be nonrefundable and shall
be and remain the sole property of lessor without exception,
except the Security Deposit as hereafter set forth.
2. LESSEE'S WAIVER OF DAMAGES AND WARRANTIES FROM LESSOR. Lessee
leases the equipment from lessor "as is." Lessor makes
absolutely no warranties, express or implied, including any
warranty of merchantability or fitness for a particular purpose.
Lessee shall, and hereby does, hold lessor harmless from and
against any damage or injury to persons or property caused by
the equipment, and lessee agrees to be responsible for any such
loss. No representation or warranty by the supplier or
salesperson is binding upon lessor, nor shall breach of such
warranty relieve lessee oflessee's obligation to lessor. In no
event shall lessor be liable to lessee for any special, indirect
or consequential damages, including lost profits, lost business
opportunities, or any other damages of such kind or description.
Lessee acknowledges that lessor is not in the business of
manufacturing or supplying the leased equipment, that it has
made no investigation as to the appropriateness of the equipment
for the purposes to which lessee intends to put the equipment,
and therefore lessee fully accepts the terms and conditions
of this paragraph limiting the liability of the lessor to the
delivery of the equipment and in return, lessee promises to make
the lease payments specified in paragraph one (1) hereof.
3. DELIVERY AND ACCEPTANCE. Lessee agrees to accept such delivery
of the equipment and upon installation thereof to execute and
deliver to lessor the DELIVERY AND ACCEPTANCE RECEIPT submitted
by lessor. Lessee further agrees that the validity of this
lease shall not be affected by any delay in the shipment of the
equipment by the supplier. In the event that the lessee has not
executed and delivered to lessor the submitted delivery and
acceptance receipt upon installation of the equipment, then it
shall be conclusively presumed, as between lessor and lessee,
that the equipment is in good working order and condition and
that the lessee has accepted and is satisfied that the equipment
constitutes the equipment specified in this lease,
notwithstanding the fact that such goods may be otherwise
nonconforming. By execution hereof, the lessee certifies that
he has read this lease including all portions hereof, and all
schedules attached hereto, and that he is authorized to execute
this lease on behalf of the lessee, and hereby acknowledges
receipt of this lease. LESSEE REPRESENTS AND WARRANTS THAT
THIS IS A COMMERCIAL AND BUSINESS TRANSACTION AND NOT A CONSUMER
TRANSACTION.
4. USE. Lessee shall use the equipment in the conduct of its
business and in a careful and proper manner. Lessee shall not
alter or change the equipment without the prior written consent
of the lessor, and all equipment, accessories, parts and
replacements for or which are added to and become part of the
equipment shall immediately become the property of the lessor
and shall be deemed incorporated in the equipment and subject to
the terms and conditions of this lease as if originally leased
hereunder.
5. LOCATION. The equipment shall be located at the address of
lessee shown on the Schedule and shall not be moved from said
location without the prior written consent of lessor.
6. LOSS AND DAMAGE. Upon shipment of equipment to lessee, the
lessee hereby assumes and shall bear the entire risk of loss
and damage to the equipment from any and every cause whatsoever.
7. INSURANCE. Lessee shall keep the leased equipment insured
against loss by fire, theft and all other hazards
("comprehensive coverage") by insurers and in form, amount and
coverage satisfactory to lessor, but in no event less than the
original cost of the leased equipment or such other amount as
lessor shall approve in writing. Lessor shall be named as an
additional insured and loss payee on any such insurance policy
or policies, and lessee agrees to provide a certificate of
insurance to lessor showing the lessor as such loss payee as its
interest may appear. Said policies shall provide that all
losses shall be payable solely to the lessor. Said policy shall
also provide that no act or omission of lessee or any of its
officers, agents, employees or representatives shall affect the
obligation of the insurer to pay the full amount of any loss,
and no such policy shall be canceled or materially altered,
except upon not less than thirty (30) days prior written notice
to the lessor. In the event of any loss, destruction, theft or
damage to any of the leased equipment, lessee shall immediately
notify lessor in writing, and any such loss, destruction, theft
or damage shall not relieve the lessee from its obligation to
pay the full lease payments hereunder. Lessee shall promptly
make claim for applicable insurance and comply in all respects
with the claims policies and procedures as set forth in the
policies to be issued as specified above. Any sums collected
from insurance for the total loss of any leased equipment shall
be first credited to the payment of the residual value of the
leased equipment as determined by the lessor, and then to the
unpaid installments of rent payable hereunder. If any of the
leased equipment is partially damaged, the lessee shall repair
such damage at its own cost and expense, and any sums collected
from insurance on account of such damage shall be applied to
the cost thereof. Provided, however, on default of the lessee
in repairing such damage within thirty (30) days of the
occurrence thereof, the sums collected therefor shall be applied
to the last maturing installments of rent payable hereunder or
to the repair of the leased equipment, at the option of the
lessor. Lessee shall insure the lessor and lessee with respect
to liability for personal injuries, death, damage to or use of
the property resulting from the ownership, use and operation of
the leased equipment, with insurer satisfactory to the lessor in
the amount of at least One Hundred Thousand ($100,000.00)
Dollars and Three Hundred Thousand ($300,000.00) Dollars for
personal injuries, and Fifty Thousand ($50,000.00) Dollars for
property damages, or such greater amount as lessor shall
reasonably require. If lessee shall default in obtaining any
insurance so to be provided, the lessor may place such insurance
at its options, pay the premiums and charge the same as
additional rent to the lessee, which shall be payable upon
demand with interest at eighteen (18%) percent, or the highest
legal rate from the date lessor makes any such payment.
Notwithstanding the provisions of this paragraph, lessee will,
and hereby does, hold lessor harmless from and against any such
claim or liability (including attorneys fees and costs and
expenses for the defense thereof) arising out of the ownership,
use or operation of the leased equipment during the period of
this lease and until the leased equipment is returned to and
accepted by the lessor.
8. TAXES, ASSESSMENT AND FEES. Lessee agrees to pay all licensing,
filing and registration fees and to keep the equipment free from
liens and encumbrances. Lessee agrees to pay lessor for all
personal property taxes assessed against the equipment, to pay
all other taxes, assessments, fees and penalties which may be
levied or assessed in respect to the equipment, including sales
tax levied on the rental payments, its use or any interest
therein, or any lease payments including, but not limited to,
all federal, state and local taxes however designated or levied,
whether upon lessee or lessor or the equipment, or upon the
sale, ownership, use or operation, excepting any income taxes
levied on the payments to the lessor. Lessee authorizes lessor
to file at lessor's option financing statements without the
signature of the lessee, and if a signature is required by law,
lessee appoints lessor as lessee's attorney in fact to execute
such financing statements on its behalf. Lessee agrees to pay
a fee of Twenty-Five ($25.00) Dollars to reimburse lessor's
expenses for preparing such financing statements and for making
such credit checks and analysis of lessee and guarantor's
financial status as the lessor deems prudent. Lessee agrees to
reimburse lessor for reasonable costs incurred in collecting
taxes, assessments or fees for which lessee is liable and any
collection charges attributable thereto, including attorneys
fees, costs and expenses.
9. TITLE/RECORDING. Title of the equipment shall, at all times,
remain in the lessor. Lessee agrees to keep the equipment free
and clear from all levies, attachments, liens, encumbrances and
charges or other judicial process of every kind whatsoever.
Lessee agrees to save lessor harmless and indemnify lessor from
any loss or damage caused thereby. Lessee authorizes lessor for
and in lessee's name to execute and file financing statements
for the equipment as set forth in paragraph number eight (8).
10. DEFAULT. In the event that the lessee shall default in payment
when due of any lease payment, additional lease payment, or any
other sums or charges due hereunder, for a period of five (5)
consecutive days after the said amounts are due, or in the event
of any other default or breach of the other terms and conditions
of this lease, or any other lease agreement executed
contemporaneously herewith or which incorporates this agreement
by reference, or if any execution or other process shall be
issued in connection with the equipment, or if the lessee
becomes insolvent or makes an assignment for the benefit of
creditors, or a receiver, trustee or liquidator of the lessee's
business or a substantial part of its assets is appointed with
or without the consent of the lessee, or if a petition is
filed against the lessee or by the lessee under the Bankruptcy
Code or any amendments thereto, or any similar state insolvency
law or laws providing relief for debtors, or if the financial
conditions of the lessee's business affairs shall so change as
to, in lessor's opinion, impair lessor's equipment or increase
the credit risk involved, then, and upon the happening of any
of these events, lessor shall have the right to do one or more
of the following: Declare this lease in default upon written
notice to lessee whereupon the entire amount of the lease
payments remaining to be paid pursuant to this agreement shall
be immediately due and payable; and Proceed to appropriate court
action or actions at law or in equity or in bankruptcy to enforce
performance by lessee of the covenants and terms and conditions
of this Lease Agreement and/or to recover damages for the breach
thereof; and Terminate this lease upon written notice to lessee;
and Whether or not this lease be so terminated, and without
notice to lessee, repossess the equipment wherever found, with
or without legal process, and for this purpose lessor and/or its
agents may enter upon any premise of or under control or
jurisdiction of the lessee or any agent of the lessee without
liability for suit, action or other proceeding by lessee (any
damages occasioned by such repossession being hereby expressly
waived by lessee) and remove the equipment thereon.
Notwithstanding the fact that any or all of the equipment is
returned to or repossessed by the lessor as aforesaid, the
lessee shall remain liable for and the lessor may forthwith
recover from lessee as liquidated damages for breach thereof
under this lease and not as a penalty, in addition to the entire
amount of the unpaid lease payments pursuant to said
subparagraph "A" above, all other unpaid sums or charges that
accrued prior to the date of the lessee's default, together will
all costs and expenses incurred by the lessor as set forth
herein. If the lessee fails to redeliver any equipment to the
lessor or the lessor is unable, for any reason, to effect
repossession of the equipment, or if the lessor does not
repossess any of the equipment at its option, then with respect
to such equipment, the lessee shall be liable for, and lessor
may forthwith recover from the lessee, as liquidated damages,
and not as a penalty, in addition to the entire amount of unpaid
lease payments pursuant to subparagraph "A" above, the sum of
twenty (20%) percent of the actual cost to lessor of such
equipment, plus all other unpaid sums or charges that accrued
prior to the date of the default by lessee, together with all
costs and expenses incurred by lessor as set forth in this
agreement.
Lessor may also recover all costs and expenses including,
without limitation, reasonable attorney fees incurred by the
lessor in enforcing its rights under this agreement.
Lessor may apply advance lease payments received against the
lessee's obligations under this lease.
Any repossession, resale or release of any equipment by lessor
shall not be a bar to the institution of litigation by lessor
against lessee for damages for breach of this lease, and the
commencement of any litigation or the entry of any judgment
against lessee shall not be a bar to the lessor's right to
repossess the equipment.
With respect to any equipment returned to the lessor or
repossessed by lessor pursuant to this agreement, the lessor
may hold or use such equipment for any purpose whatsoever,
or may sell the same at private or public sale, for cash or
credit, or may release the same for such terms as shall be
solely determined by lessor. In the event of the sale or
releasing by lessor of any such equipment, lessee shall be
liable for, and lessor may forthwith recover from lessee, as
liquidated damages for breach of this lease, and not as a
penalty, in addition to the entire amount of the unpaid lease
payments pursuant to subparagraph "A" above, the sum of twenty
(20%) percent of the actual cost to the lessor of such
equipment, plus all other unpaid sums or charges that accrued
prior to the date of the lessee's default, plus the proceeds of
any sale or releasing of such equipment, after first deducting
therefrom all costs and expenses incurred in repossession,
storage, repairs, reconditioning, sale, releasing, attorney
fees, and collection fees with respect to the equipment.
To the extent permitted by law, the lessee hereby waives any
rights now or hereafter conferred by statute or otherwise which
may require the lessor to sell, lease or otherwise use any
equipment in mitigation of lessee's damages as set forth in
this paragraph numbered ten (10), or which may otherwise limit
or modify any of the lessor's rights or remedies under this
paragraph numbered ten (10).
11. CUMULATIVE REMEDIES. Each and all of the remedies provided
hereunder to the lessor are cumulative and may, to the extent
permitted by law, be exercised concurrently or separately, and
the exercise of any one remedy shall not preclude the lessor
from exercising any other remedy and shall not be deemed to be
an election of remedies. No failure on the part of the lessor
to exercise, and no delay in exercising any right or remedy
hereunder shall be deemed a waiver thereof, nor shall any single
or partial exercise by lessor of any right or remedy hereunder
preclude any other or further exercise thereof, or the exercise
of any other right or remedy. Damages occasioned by lessor's
repossession of the equipment are hereby waived by lessee.
Lessee waives any right of venue and agrees that all legal,
equitable or other proceedings between the parties can be
brought in a court of competent jurisdiction at the election
and determination of the lessor and lessee consents thereto.
12. RETURN OF EQUIPMENT AND/OR PURCHASE OPTION. On termination
or expiration of this lease, or upon the lessee's default,
lessee shall at its own cost and expense return the equipment to
the lessor at an address specified by the lessor in the same
condition as received, reasonable wear and tear and normal
depreciation excepted. The lessee shall, in addition to all
other payments due under this lease to the lessor, pay to lessor
such sums as may be necessary to cover replacement for all
damaged, broken or missing parts of the equipment.
In lieu of returning the equipment as set forth above, in the
event the lessee has made all payments and has otherwise
fulfilled all of its obligations pursuant to the lease, it may
purchase the equipment for the then-current fair market value,
as determined and agreed to by the parties. Upon delivering the
agreed-upon sum, and upon the satisfaction by the lessee of all
of its obligations pursuant to this agreement, then the lessor
shall deliver a Xxxx of Sale transferring title to the lessee
and the lessor shall further release any and all security
interests it has filed or other liens of record that it has
filed on the equipment.
Insofar as this is, or may be deemed to be, an installment
purchase agreement rather than a lease, the lessee agrees to
execute a chattel security agreement and financing statement
securing the interest of the lessor in the equipment.
13. RENEWAL. In the event lessee fails to return the equipment to
the lessor upon expiration or termination of the lease, the
lessor is entitled to charge, and lessee shall continue to pay,
rent to the lessor at the same rate provided herein, as a
month-to-month lease until the equipment is returned by the
lessor. This Lease shall be renewable upon agreement of the
parties.
14. ASSIGNMENT. This lease may not be assigned, nor may any of
the leased equipment be subleased by the lessee without the
prior written consent of the lessor. Lessor may, at its option,
assign to any bank or other financial institution, all or part
of any of its right, title or interest in and to the lease and
to each item of equipment and monies to become due hereunder;
and, lessor may grant security interests in the equipment,
subject to the lessee's right therein as set forth in this
lease, and in such events, all provisions of this lease for the
benefit of the lessor shall inure to the benefit of and be
exercisable by or on behalf of any such assignee, but the
assignee, subject to the option of the lessor, may or may not
be liable for or be required to perform any of the lessor's
obligations to the lessee. The lessor may direct that all
rental payments due and to become due under this lease and
assigned by lessor shall be paid directly to any such assignee,
upon notice of such assignment to lessee, and assignee may
exercise any of lessor's rights hereunder and shall not be
subject to any defense, counterclaim or setoff which the lessee
may have or assert against the lessor, and the lessor hereby
agrees that it will not assert any such defenses, setoffs,
counterclaims and claims against the assignee. The original
lease may be used as chattel paper.
15. CONFLICTS. If any provision herein is in conflict with statute
or rule of law of any state or territory wherein it may be
sought to be enforced, then that provision shall be deemed null
and void to the extent that it may conflict therewith, but the
balance of any such provision, and the balance of the lease
shall be enforced to the fullest extent permitted by law. For
the sole purpose of resolving any problem with respect to
conflict of laws, it is agreed that questions of filing or
recording shall be determined by the law of the place where the
equipment is located. In all other respects, this lease shall
be governed by the laws of the State of Wisconsin.
16. NOTICE. All notices relating hereto shall be in writing and
delivered to an officer of the party to which such notice is
being given or mailed by certified mail, return receipt
requested, to such party at the address specified in this lease,
or at such other address as may thereafter be specified by like
notice by either party to the other.
17. INSPECTION. Lessor may, for the purpose of inspection, at all
reasonable times, enter upon any job, building or place where
the equipment is located and may remove the equipment forthwith
without notice to lessee if the equipment is, in the opinion of
the lessor, being used beyond its capacity or in any manner
improperly cared for, abused or misused.
18. INDEMNITY. Lessee shall and does hereby agree to indemnify and
save lessor, its successors and assigns, harmless from any and
all liability, damages, or loss, including reasonable attorney
fees, arising out of the ownership, selection, possession,
leasing, renting, operation, control, use condition (including
but not limited to latent and other defects, whether or not
discoverable by lessee), maintenance, delivery and return of
the equipment, or in the event that the lessee shall be in
default hereunder, arising out of the condition of any item of
equipment sold or disposed or after use by the lessee. The
indemnities and obligations provided in this paragraph shall
continue in full force and effect notwithstanding the
termination of this lease.
19. SECURITY DEPOSIT. Contemporaneous with the execution of this
lease, the lessee has delivered to the lessor the deposit
payment as listed on the Schedule. Said amount shall be held
as a deposit against obligations due the lessor from the lessee
and may, upon written notice to the lessee, be applied by the
lessor to any obligations due the lessor from the lessee
pursuant to the terms of this agreement. The deposit may
not be used by the lessee for payments and the same shall be
returned by the lessor to the lessee upon the due completion by
the lessee of all the terms and conditions of this lease.
20. AUTOMATIC RENEWAL. This Lease is for the number of months set
forth on the Schedule of Variable Lease Terms on the face
hereof. Unless one party gives the other at least thirty (30)
days notice prior to the end of such term (or any renewal
thereof), then this Lease shall be renewed for another like
period of time which shall again be subject to this same
automatic renewal unless one party gives to the other thirty
(30) days notice.
21. MISCELLANEOUS.
A. This lease and its related attachments contains the entire
agreement between the lessor and lessee and may not be
altered, amended, or modified, or otherwise changed except
by writing executed by authorized persons of each party.
Notwithstanding the foregoing, lessee hereby authorizes
lessor, without further notice, to complete the description
of the equipment to be leased, the quantity thereof, serial
numbers of such equipment, and to fill in any blank spaces on
this lease and to date this lease. Lessee shall pay to lessor
a charge for lessor's documentation in connection with this
lease.
B. This lease shall be valid and enforceable when accepted in
writing by lessor and shall be governed by the laws of the
State of Wisconsin, and shall be binding upon the lessor
and lessee and their respective legal representatives,
successors and assigns.
C. Lessee agrees that this lease is irrevocable for the full
term hereof and that its obligations are absolute and shall
continue without abatement regardless of any disability to
use the equipment or any part thereof because of any reason
including, but not limited to, war, act of God, governmental
regulations, strike, loss, damage, destruction, obsolescence,
failure or delay in delivery, failure of the equipment to
properly operate, termination by operation of law, or any
other cause.
DATED at Germantown, Wisconsin this _____ day of ________________,
199___.
PCI CONSULTING & LEASING, INC. TECSTAR MFG. COMPANY
("Lessor") ("Lessee")
By: By:
As its:Partner As its:VP-Finance
ATTACHMENTS
(Such Attachments are to be signed contemporaneously and are part of
this Lease Agreement).
1. Cover Sheet
2. Schedule of Variable Lease Terms
3. Delivery and Acceptance Receipt
COVER SHEET
LEASE NUMBER:_______________ LEASE DATE:___________________
SCHEDULE NUMBER:___________
LESSOR: ______________________________
______________________________
______________________________
LESSEE: ______________________________
______________________________
______________________________
DESCRIPTION OF EQUIPMENT
QUANTITY SERIAL NUMBER DESCRIPTION
____________
(Initial)
____________
(Date)
SCHEDULE OF VARIABLE LEASE TERMS
Lease #__________ Schedule #_________________
LESSOR: ____________________________________
(Name)
____________________________________
(Address)
____________________________________
LESSEE: ____________________________________
(Name)
____________________________________
(Address) *
____________________________________
Number of Months: ______** Amount of Monthly Lease Payment: __________
Due Date: ________________ Commencement Date:______________________
Amount of Security Deposit (in accordance with terms of Paragraph 19 of
the LEASE AGREEMENT): $___________________________________________
Payments to be made to Lessor at address shown above.
Check to Lessor in the amount of $200.00 for documentation costs as
outlined in Paragraph 21(a) of LEASE AGREEMENT to accompany this
agreement.
ADJUSTMENT CLAUSE
At the option of the Lessor, consideration MAY be given to Lessee
for services provided to Lessor. This consideration could result in
reduced lease payment(s), and written notice of same will be given to
Lessee in advance of the next lease payment due date. If no notice
is given, lease payments are as outlined above.
*Address of Lessee is to be the location of leased equipment, in
accordance with Paragraph Five of LEASE AGREEMENT.
**Subject to terms outlined in Paragraph 20 of LEASE AGREEMENT.
___________________ ___________________
(Initial) (Date)
DELIVERY AND ACCEPTANCE RECEIPT
LEASE NUMBER:_______________ DATE:____________________
SCHEDULE NUMBER:___________
LESSOR: ____________________________________________
LESSEE: ____________________________________________
In accordance with Paragraph Three (3) of the above-referenced
EQUIPMENT LEASE, delivery and installation of the leased equipment
is hereby accepted.
SIGNED at Germantown, Wisconsin this _____ day of __________________,
199____.
LESSEE:_______________________
By:___________________________
(Signature)
Drafted by Xxxxxx Xxxxxxx
12-17-97
