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HomeMy WebLinkAboutC87-058 Loaned equipment agreement with Lipson OilC87-58-50 � A' `r 1987 gg I;L_I>aD EQUIPMENT AGRE-EMBILT PIEEMENT Made and entered into this da of E� 6th y A r� ],r a 9_ 87 ,. by'and 'between Lipson Oil< Company, a corporationJ'(hereinafter", called _ �y'Q, . JJ ,...i..S .f._, •,,,, !,t . ;�� i--.; ; Y i.,s.(`' r };E nim ' t �714i 1 W A i "Loco" , art of the first 'Eagle County `Cover en �� ; y' tli party .part, and of.�,cyi_ i he party ;of the second, part WITNESSET#i : That .,,In consideration of .the,sum of $65.96 per, morith:, rent , hereto .in hand paid by,the other, the receipt whereof, is hereby acknowledged,? the - parties hereto have . agreed and .do hereby agree as follows :. , %,: Loco agrees:,,, (a) ,A That the party of,,the second Gpart may, during the �terw hereof,,:and" IV ,v upon. the ertns and conditions hereof, ,use at his place of� business hereinafter 'qef )P �_,' designated, -the fiXtures, equipment and appliances hereinafter; described;,bel ongin to LOCO and ,now in, possession t of the party of the, second part; (b) That it will, withinsixty (60) days after, thei;termiTt8Ei0I1 ;Of agreement by lapse of,time,' or otherwise,° remove from said;�premises,,Jsuch equip - ,sent, .fixtures.,,4nd appliances that may belong_ to it... The party of,the second part does hereby acknowledge that he (has/ shall ,.f have). in his possession on -the premises known as 6 mile ima`�k�e'r on 'the �'roug,h,`° in the city ofEast of State " Bridge, County of Eagle f , y We s , , ," iti the State of Col orada _ the following' described and equipment belonging to Loco, to -wit: s t " l - '2,,000 gallon steel: petroleum storage tank 1 12 volt petroleum transfer pump � iDgether with<the.necessary appliances attached thereto, and does hereby agree: (a) To keep and maintain said fixtures, equipment and appliances`in good- �i condition and repair, and pay any inspection fees and or/ licenses applicable thereto;' •(b) Not to remove said -fixtures, equipment and appliances or any part thereof,° from'said premises, nor to deliver possession thereof to any other person, firm - 1 or corporation: t r: (c) Not to encumber or attempt to encumber or sell the same or any,part thereof; f .(d) Not to do or suffer to be done anything whereby said fixtures, equipment and appliances may be seized or taken on execution or attachment, destroyed or injured or by which the title of Loco -thereto mayin any way, be affected, ;I destroyed, prejudiced or impaired; 3 � T. (ej' At,thea termination hereof,, to.deliver up possession of said *equipment, ` fixtures"P. appl.ianeee to Loco in as good' a condition as when received, ordinary r*t. wear and tear excepted. z . 7 . ;J'r 3. It is mutually agreed: (aThat thio Loaned "Equipment Agreement shall continue Luntil terminated ;fr i. by"either of.the parties hereto at,anytime Hereafter upon ten (i0),days' written notice to'', the' other; , y? ', '; , rrk CtA That within sixty '(60).,,days after ,the termination hereof,' Loco shall E have the`right"to enter upon stiid premises and remove said fixtures, equipment,"IV, and =applliniea Wonglrig to it and each. and .every part thereof", doing` whatever k! 3)k�{ is";necess'ary for* that purpose without 13ability, or -expense either,to=the Party „ of t1ja' second part, or to any other party, for anything .it may do - reasonably .necessexvto remove said fixtures,. equipment and appliances; ;' (, "TYi� s` .agreement constitutes the' entire agreement of the parties �'IcQneernin f�(,).J` the, suWeat#zpatter hereo,.'and any and all previous agreements' coneerning`athe {:, `YP & .sm,e are hei-eby, modified. accordingly; ' � P ; ;"� .t } ? P'•"`t ��° �: ";' ,, . (d) .,That this, agreement shall be. binding . upon not . only the Pimmediate `parties j#jr ..hexet,p ;,'6ut:upon' their respective successora, heirs,, executors and, administrators, IN 'V�TNES WHEREpF,. the parties hereto have caused 'this agreement to#' be executed. in triplicate as of the day and year first above: written,,;,,. Lipson Ail C „ of the First—Part