EXHIBIT 10.60.1
LEASE AGREEMENT ADDENDUM - AMENDMENT 01
Lessor: Commercial Money Center, Inc.
Lessee: Applied Data Communications, Inc.
Lease number: K030312
Equipment Lease Agreement by and between the above Lessor ("Lessor") and the
above ("Lessee") with reference to the above lease transaction ("Lease number").
All terms and conditions of the Lease not inconsistent with this Addendum shall
be and remain in full force and effect.
Lessee hereby authorizes Lessor to correct the:
_____ Payment Amounts
_____ Advance Payments Due
The Lease and all documents given in conjunction therewith shall now read:
Monthly Payment Changed from: $10,267.23 To: $11,013.94
Advance Payment Changed from: $20,534.46 To: $22,027.88
The parties intend and agree that a carbon copy, photocopy, or facsimile of this
document with their signature thereon shall be treated as an original, and shall
be deemed to be as binding, valid, genuine, and authentic as an original-
signature document for all purposes, including all matters of evidence and the
"best evidence" rules.
IN WITNESS WHEREOF: the parties hereto have set their hands and seal to this
addendum and acknowledge receipt of a true copy hereof the date(s) indicated
below.
Lessee: Applied Data Communications, Inc.
Applied Data Communications
SIGNATURE DATE SIGNATURE DATE
X /s/ Xxxxxx X. Xxxx 5-10-00 X /s/ Xxxxxx X. Xxxx 5-10-00
Applied Data Communications, Inc. Xxxxxx Xxxx as Co-Lessee
SIGNATURE /s/ Xxxxxx X. Xxxx DATE 5-10-00 SIGNATURE DATE
X
as Co-Lessee as Co-Lessee
SIGNATURE DATE SIGNATURE ACCEPTED BY LESSOR
X X
Witness Commercial Money Center, Inc. DATE
OPTIONS OF LESSEE
10% PURCHASE OPTION/FMV
Lease #K030312 between COMMERCIAL MONEY CENTERS, INC., Lessor, and Applied Data
Communications, Inc., Lessee.
Provided the Lease has not terminated early, Lessee shall have the following
option at the end of the original term.
BUY: Purchase the Equipment for 10% ($31,786.25) of Lessors cost of the
equipment or the Fair Market Value, whichever is greater.
This amount payable in a single sum immediately upon expiration of the
lease.
OR
RENEW: Renew the lease contract.
COMMERCIAL MONEY CENTERS, INC. Applied Data Communications, Inc.
Lessor Lessee
/s/ Xxxxxx X. Xxxx
Authorized Representative Signature of Lessee
President
Title Title
5-10-00
Date Date
NOTE: SIGNATURE MUST BE SAME AS ON LEASE
AUTHORIZATION TO CHARGE ACCOUNT
This Authorization to Charge Account ("Authorization") is part of the
consideration given to Commercial Money Center, Inc. or its assigns ("CMC") to
induce CMC to enter into Lease Agreement No. K030312 ("the lease") with us. We
understand that THIS IS A NONCANCELABLE AUTHORIZATION DURING THE TERM OF THE
LEASE.
The Authorization to charge our account at our bank shall be the same as if
we had personally signed a check to CMC. This Authorization shall remain in
effect until CMC notifies our bank in writing that wish to end this
Authorization. CMC will so notify our bank when all sums due and owing to it
pursuant to the Lease have been received by CMC.
This Authorization is entered into concurrently with the Lease and is
hereby incorporated therein. If this Authorization, with or without our
knowledge or consent or, by the act of any third party, is in anyway terminated,
stayed, modified, or suspended without the written consent of CMC, such act or
omission shall be deemed a default under terms and provisions of the Lease and
CMC may thereupon exercise any and all rights and remedies as stated in the
Lease.
A record of your payment shall be included in our bank statement and will
serve as our receipt. In the event of an error and with the written consent of
CMC, we have the right to reverse any transfer. However, we must notify our
bank within fifteen days of the date of our bank statement or within forty-five
days after transfer was made.
We understand and agree that our bank is not responsible for an error in
the amount of any transferred payment. In the event of such an error, we will
reconcile directly with CMC.
IMPORTANT INFORMATION ON YOUR
PRE-AUTHORIZED LEASE PAYMENT
-A MUST READ!!-
IN THE EVENT A PAYMENT DEBIT IS NOT HONORED BY YOUR BANK FOR INSUFFICIENT
FUNDS, ACCOUNT CLOSED, PAYMENT STOPPED OR ANY OTHER REASON, AN AUTOMATIC SERVICE
CHARGE OF $10.00 WILL BE ASSESSED AND BILLED TO YOU.
I (We) hereby authorize our bank to charge our account each month and to
pay CMC the amount shown below. I (We) have read, understand and agree with the
terms of this Authorization.
Monthly payments: $11,013.94 + 0.00 = 11,013.94 due on the 1st of each
month.
LESSEE: Applied Data Communications, Inc.
Signature: /s/ Xxxxxx X. Xxxx
Title: President
Date: 5-10-00
Bank Name: CITY NATIONAL BANK
Address: XxxXxxxxx Xxxxx Xxxxxx
0000 XxxXxxxxx Xxxxx
Xxxx, Xxxxx, Xxx: Xxxxxxx Xxxxx, XX 00000
Account No.: 023-720205
ABA Routing No.: 000000000
