Exhibit 10.2
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LEASE SCHEDULE
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LEASE SCHEDULE NO. 003 Dated As Of: JUNE 2, 1999
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UNDER MASTER LEASE AGREEMENT NO. 5002182 Dated As Of: JANUARY 18, 1999
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This Lease Schedule between Xxxx Commercial Credit Corporation ("Lessor") and
UNIVERSAL MONEY CENTERS, INC. ("Lessee") is executed pursuant to the Master
Lease Agreement referenced above ("Master Lease"), the terms and conditions of
which are incorporated herein by reference and shall be deemed a part of this
Lease Schedule. The equipment described in Schedule A hereto ("the Equipment")
is leased pursuant to the terms and conditions of this Lease Schedule and the
Master Lease. This Lease Schedule shall be deemed a separate instrument of
lease. Capitalized terms used without definition in this Lease Schedule shall
have the meanings ascribed to them in the Master Lease.
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Equipment Location:Stated on Schedule A, attached hereto and incorporated
herein.
Stipulated Loss Value: Stated on Exhibit 1, attached hereto and incorporated
herein.
Acceptance Date: As stipulated on the Acceptance Certificate referring to this
Lease Schedule to be separately executed by Xxxxxx upon delivery and acceptance
of the Equipment and acknowledged by Lessor.
Lease Term: Commences on the Acceptance Date and continues 60 months after the
Basic Rent Commencement Date.
Basic Rent Commencement Date: 1st day of the month immediately following the
Acceptance Date of the Lease Schedule.
Classification of Equipment: 5 year property.
Rent: An amount equal to the sum of:
(i) Interim Rent in an amount equal to 1/30th of the Basic Rent
(defined below) multiplied by the number of days from and including the
Acceptance Date to the Basic Rent Commencement Date, which amount shall be
payable on the Basic Rent Commencement Date and
(ii) 60 monthly rental payments each in the amount of $1,595.83
("Rent") plus any applicable sales/use tax and other charges under the
Master Lease and this Lease Schedule commencing on the Basic Rent
Commencement Date and on the 1st day of each month thereafter ("Rent
Payment Date") for the entire Lease Term.
The parties agree that this lease is a "finance" lease as defined by Article
2A-103(g) of the Uniform Commercial Code. Lessee acknowledges that it has either
(a) received, reviewed and approved any written supply contract from the
manufacturer or supplier ("Supplier") covering the Equipment purchased from
Supplier by Lessor for lease to Lessee, or (b) been informed of the identity of
the Supplier covering the Equipment, that it may have rights under the supply
contract and that Lessee may contact Supplier for description of such rights.
This Lease Schedule will apply only to Equipment accepted on or before JUNE 30,
1999.
Dated as of JUNE 2, 1999. By execution hereof, the signer certifies
------ that he/she has read, accepted and duly
executed this Lease Schedule to the
Master Lease on behalf of Xxxxxx.
LESSOR: Xxxx Commercial Credit LESSEE: UNIVERSAL MONEY CENTERS, INC.
Corporation ---------------------------------
By: By: /s/ Xxxxx X. Xxxxxx
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Title: Title: Chief Executive Officer
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SCHEDULE A EQUIPMENT
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LEASE SCHEDULE NO.: 003 DATED AS OF: JUNE 2, 1999
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QTY. MANUFACTURER, MODEL NUMBER AND SERIAL ADDRESS CITY STATE ZIP PURCHASE PRICE
DESCRIPTION NO.
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1 NCR 5870 "LITE" FREESTANDING CASH DISPENSER 33273121 0000 Xxxxxx Xxxx Xxxxxxx Xxxxxxx XX 00000 $8,400.00
1 NCR 5870 "LITE" FREESTANDING CASH DISPENSER 33273125 $8,400.00
1 NCR 5870 "LITE" FREESTANDING CASH DISPENSER 33273126 $8,400.00
1 NCR 5870 "LITE" FREESTANDING CASH DISPENSER 33273127 $8,400.00
1 NCR 5870 "LITE" FREESTANDING CASH DISPENSER 33273132 $8,400.00
1 NCR 5870 "LITE" FREESTANDING CASH DISPENSER 33727134 $8,400.00
1 NCR 5870 "LITE" FREESTANDING CASH DISPENSER 33273135 $8,400.00
1 NCR 5870 "LITE" FREESTANDING CASH DISPENSER 33273138 $8,400.00
1 NCR 5870 "LITE" FREESTANDING CASH DISPENSER 33273140 $8,400.00
1 NCR 5870 "LITE" FREESTANDING CASH DISPENSER 33273148 $8,400.00
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TOTAL: $84,000.00
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Page 1 of 1
STIPULATED LOSS VALUE
EXHIBIT 1
UNIVERSAL MONEY CENTERS, INC.
LEASE NO. 502182-003
Period $ Amount Period $ Amount
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1 85,617.99 31 52,940.48
2 84,706.63 32 51,680.96
3 83,775.18 33 50,410.19
4 82,834.21 34 49,134.52
5 81,883.69 35 47,847.52
6 80,912.86 36 46,555.53
7 79,932.32 37 45,252.11
8 78,942.00 38 43,937.21
9 77,941.87 39 42,617.18
10 76,925.97 40 41,285.57
11 75,900.11 41 39,942.33
12 74,858.36 42 38,593.80
13 73,806.51 43 37,233.55
14 72,744.52 44 35,861.51
15 71,666.43 45 34,477.62
16 70,578.05 46 33,088.23
17 69,479.34 47 31,686.90
18 68,364.33 48 30,279.98
19 67,238.85 49 28,861.02
20 66,102.82 50 27,429.97
21 64,956.20 51 25,993.16
22 63,800.72 52 24,544,16
23 62,634.55 53 23,082.90
24 61,459.42 54 21,815.73
25 60,273.49 55 20,136.20
26 59,076.69 56 18,644.26
27 57,870.78 57 17,139.83
28 56,653.90 58 15,635.06
29 55,425.99 59 14,117.73
30 54,188.80 60 12,600.00
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ACCEPTANCE CERTIFICATE
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TO LEASE SCHEDULE NO. 003 DATED AS OF JUNE 2, 1999
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("LEASE SCHEDULE") UNDER MASTER LEASE NO.5002182 DATED AS OF JANUARY 18, 1999
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("MASTER LEASE") BETWEEN XXXX COMMERCIAL CREDIT CORPORATION ("LESSOR") AND
UNIVERSAL MONEY CENTERS, INC. ("LESSEE").
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1. EQUIPMENT. Lessee hereby acknowledges that the Equipment set forth and
described on the Lease Schedule, which description is fully incorporated herein
and made part hereof in its entirety, has been delivered to the location(s)
indicated in such Lease Schedule, where applicable, installed and otherwise
serviced and completed to the Lessee's satisfaction, inspected by Lessee, found
to be in good operating order and condition and in compliance with all
specifications of Lessee, and has been unconditionally accepted by the Lessee
under the Master Lease and Lease Schedule, all on the Acceptance Date set forth
below. Lessee hereby agrees to faithfully perform all of its obligations under
the Master Lease and Lease Schedule and reaffirms, as of the date hereof, its
representations and warranties as set forth in the Master Lease. Lessee further
reaffirms that Lessee has reviewed and approved the purchase order or agreement
with each Supplier covering the Equipment to be purchased by Lessor for lease to
Lessee, or that Lessee knows the identity of each Supplier, that it may have
rights under any Supply contract from the Supplier, and that Lessee may contact
Supplier for a description of any such rights. Lessee hereby authorizes and
directs Lessor to make payments to each Supplier of the Equipment pursuant to
such Supplier's invoice or any purchase order or agreement with such Supplier.
2. LESSEE ACKNOWLEDGMENTS. Lessee hereby acknowledges its agreement to pay
Lessor rental payments, as set forth in the Lease Schedule, plus any applicable
taxes, together with all other taxes, costs, expenses and charges whatsoever
which Lessee is required to pay pursuant to the Master Lease and Lease Schedule,
in each instance at the times and in the manner set forth in the Master Lease
and the Lease Schedule, respectively. Xxxxxx further acknowledges and agrees
that the rental payments shall be as set forth on the Lease Schedule.
3. ACCEPTANCE DATE:
, 19 LESSEE: UNIVERSAL MONEY CENTERS, INC.
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By:
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NAME TYPEWRITTEN OR PRINTED
Title:
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ACKNOWLEDGED THIS
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DAY OF , 19
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XXXX COMMERCIAL CREDIT CORPORATION
By:
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Title:
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