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HomeMy WebLinkAboutC80-053 Modification Agreement with Wagner EquipmentMODIFICATION AGREEMENT BETWEEN THE COUNTY OF EAGLE, STATE OF COLORADO M WAGNER EQUIPMENT COP c114 t THIS MODIFICATION AGREEMENT, made and entered into this day of December, 1980, by and between the COUNTY OF EAGLE, STATE OF COLORADO, a body corporate and politic, by and through its Board of County Commissioners, hereinafter referred to as the "Lessee", and Wagner Equipment CoyP—M, hereinafter referred to as the "Lessor". WHEREAS, on December 1® 1980, the respective parties herein entered into a lease agreement for the purpose of leasing a Caterpillar; Model 816 Compactor, Serial Number SIN 57U878; and WHEREAS, concurrently with the execution of the above described lease agreement, the parties hereto desire to amend said lease agreement by the addition thereto of another provision as set forth hereinbelow. NOW, THEREFORE, for and in consideration of the mutual covenants, conditions and promises contained herein and in that certain lease agreement entered into between the respective parties on December p 1980, the parties hereto agree to modify, alter and change said lease agreement dated December 30 , 1980, as follows: 1. That the lease agreement referred to herein is hereby modified by adding thereto and inserting therein, following the provision entitled "Purchase Option the following provision to be entitled "Non -appropriation": s "NON -APPROPRIATION: Financial obligations of the lessee payable after the current fiscal year are contingent upon funds for the purposes set forth in this lease agreement being appropriated, budgeted and otherwise made available. If such funds are not so appropriated, budgeted and otherwise made available, then this lease agreement shall terminate upon the return of the equipment to lessor in the same condition as when received by lessee, reasonable wear and tear resulting from proper use excepted, and the payment of unpaid rentals due and owing." 2. It is expressly agreed by the parties herein that this modification agreement is supplemental to the lease agreement referred to herein dated December 30 , 1980, which is by .ference made a part hereof, and all the terms, condit- ions and provisions thereof, unless specifically modified herein, are to apply to this modification agreement and are made a part of this modification agreement as though they were expressly rewritten, incorporated and included herein. 3. In the event of any conflict, inconsistency, or incongruity between the provisions of this modification agree- ment and any of the provisions of the lease agreement dated December 30 , 1980, as heretofore modified, the provisions of this modification agreement shall in all respects govern and control. IN WITNESS WHEREOF, the parties hereto have executed this modification agreement the day and year first above written. STATE OF COLORADO) ) ss. COUNTY OF EAGLE ) LESSOR: WAGNER '�QUIPMENT COPW as Subscribed before me this M.D, enson _ day of December, 1980. Vic resident Notary Public:. f� ; � �- 61 My Commission expires: LESSEE: COUNTY OF EAGLE, COLORADO My CaMudssion expires May 16,1960 h ATTEST: • by �L -- I — !F- -- - Clk of the Board of Coeny Commissioners By: 44,4 �( Dale F. Grant Chairman -WAGNER STRE "+ ADDRESS: 6000 DAHLIA STREET—COMMERCE CITY, COLORADO 80022 MAIL ADDRESS: P. 0. BOX 5188—DENVER, COLORADO 80217 TELEPHONE: 289-6111 EQUIPMENT CO LEASE AGREEMENT Date: r 34 1 980 NAME BILLING ADDRESS Ps 0 - NUMBER NUMBER STREET CITY COUNTY STATE ZIP CODE The undersigned lessor (herein called "Lessor") does hereby lease to the undersigned lessee (herein called "Lessee") subject to the terms and conditions set forth on both sides hereof, the equipment described below and/or any schedules attached hereto and incorporated herein. EQUIPMENT LEASED: No of Units Make Model -Description Serial Number (Other Identification) one Catexp�114r Madel 816 Carpactor SIV 57U878 Including all appurtenances and accessions attached and hereafter acquired. TERM: This lease is for aAerm of __ �� ( 36 ) months beginning Ta'nua'z r 1 19$1,_, and ending —8e�r �--, 1983_—. Upon the expiration date of this agreement, the term of this lease shall be automatically extended thereafter from month to month and Lessee shall continue to pay the lease payments hereinafter described unless and until either of the parties shall give at least thirty (30) days prior written notice to the other of an intention to terminate this agreement on the original expiration date or thereafter. LEASE PAYMENTS: For said term or any portion thereof, Lessee shall pay to Lessor payments aggregating $ 110,640, 011 as follows: Initial payment of $ 40_,D00,-00__ _ payable herewith in advance and `....the balance of $ 70 640 00 payable over _-yS—_— — pD00QQ6(N=, one payment due each successive__May_1st__t�J ini- nf .39.,320_00 until egUtMent Js retur d or r�urchase cpti _ J. the first payment being due __May_'__1.__---, 19.8.2—. Payments as scheduled to be made until contract is paid in full. Delinquent payments shall bear interest at the highest lawful rate. PLACE OF USE AND DELIVERY OF EQUIPMENT: Lessee shall pay the actual cost of transportation of the equipment from (F. O. B. Point) Lessee shall keep the equipment covered by this agreement XC _ '�cott County of Eagle , State of Colorado__. and Lessee agrees not to remove said equipment to any other location without the prior written consent of the Lessor. PAYMENT FOR ADDITIONAL USE: In the event that Lessee's use of the equipment described above exceeds 176 hours each month, Lessee agrees to pay as additional rent an amount equal to 50% of the regular monthly payment for each additional 176 hours or portion thereof. Lessee agrees to furnish to Lessor a written report of the hours of use of each unit of equipment each quarter during the lease term and to make the additional use payment upon receipt of Lessor's invoice with respect to any overtime use during such quarter as indicated in such written report. ALL TER S CONDITIONS ON THE REVERSE SIDE OF THIS AGREEMENT ARE A PART HEREOF A D E BINDING UPON THE PARTIES HERETO. Lessor: WJ_!=Td QUIPMENT CO. Lessee: _EaByPen By. VA 9 ant Title Title (Original signatures on all copies!) State' of I1 ) ss. County of e-_ -da y- laz;��y—_) Subs ribed befox me this day of r�.ar ' 9 Notary Public:. My Comm. Expires: i�s`� FORM 143R 1500 1-76 State of�� ) ss. County of -- ) Subscribed before me this - 'e a -7—vz—�' day of ki ase:'`