TC Ord. No. 1983-01TOWN OF AVON
ORDINANCE No. #33-1
SERIES OF 1983
AN ORDINANCE AUTHORIZING EXECUTION OF
A CERTAIN EQUIPMENT LEASE AGREEMENT
BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
AVON, COLORADO:
Section 1. The certain Equipment Lease
Agreement, together with its Exhibit A, a copy of which
agreement is attached hereto as Addenda I, and the terms of
the same, is hereby approved, and the acquisition of the
municipal property described therein is hereby authorized.
Section 2. The Mayor and Town Clerk are hereby
authorized and directed to execute said Equipment Lease
Agreement.
INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED
POSTED, THIS 11th day of January 1983
and a public hearing on this Ordinance shall be held at the
regular meeting of the Town Council of the Town of Avon,
Colorado, on the 25th day of January , 1983 at
7:30 P.M. in the Mu ciin pal Building of the Town of Avon,
Colorado.
Allan R.-TTottinghafa, Mayor
Patricia J. Wyle, To)kn Cler
INTRODUCED, PASSED ON SECO READING, APPROVED AND ORDERED
POSTED THIS DAY OF 1983.
Allan R. o tingh Mayor
atricia j. Aoyle, TOW* c:.ie
r
- rs >[a,YW or I[SS in all stain [ecepl as follows =
IIO.4 oc IS4 in Ha- ALD t or AG 2_whe. amount )maned is 525,000 or less in AZ, CO, CT, NY, NC, ALO < or AG d when amount financed nl• 00 or test in M. o~
VT IL0.5 or IS-5 in Marylanl OH, OK, WV, WY, Idaho and Utah when amount financed is S60,000 or I ALO~S or AG-S when amount financed is 525,000 or lea in Hasse.
y IL06 or 156 m MT Indiana when amount financed is 572.500 or it's. AL06 or AG-6 when amount financed is $25.000 or lea in Marys
AL 04 or AG 3 when amount financed a 525,000 or less m 0 E. Its. MT, If amount financed exceeds amount indicated, use induurul Cost
lows when "mount financed n $35,000 or Ins: Mame when amount,n eta is > ar less: Formt 115 or I10)
CHATTEL MRT -LOUISIANA
CONDITIONAL SALES CONTRACT
LEASE WITH OPTION TO PURCHASE
BJECT,TO-THE TERMS AND CONDITIONS OF THIS'LEASE, LESSOR AGREES TO LEASE TO LESSEE, AND LESSEE AGREESTO HIRE FR
LESSOR, THE PROPERTY DESCRIBED BELOW (WHICH IS REFERRED TO IN THIS LEASE AS "EQUIPMENT").
LESSEE'S NAME (Last Name First) &
Mailing Address (Incl. County & Zip Code)
Town of Avon
Box 975
Avon, Eagle County
Colorado 81620
DESCRIPTION OF EQUIPMENT
QTY, YR. MAKE/MODEL DESCRIPTION
1 New Bobcat/643 Skid Loader (5015M11708)
Flotation Tires
66" Snow & Litter Bucket
TERM. This Lease with Option to Purchase (Lease) Is for a term of
36 months, beginning on 11-28-83 (date of delivery). LESSOR
shall not be liable for delays in furnishing Equipment.
OPTION TO PURCHASE. LESSEE shall have the option to purchase
the Equipment, if not then in default, on the day of expiration of the term
of this Lease ("Purchase Date") at a price of $ 1.00
addition to the payment of all rentals and other amounts called for in-this
Lease. To exercise such option, LESSEE shall give LESSOR written notice
of exercise at least thirty days before Purchase Date. If the option is
exercised, LESSEE will pay the option price plus any applicable taxes and
any rentals and other amounts remaining unpaid on this Lease on Purchase
Date. LESSEE was offered the opportunity to purchase the Equipment for
cash but has chosen instead t6 lease the Equipment for the Aggregate
Rental, subject to the option to purchase.
If the option to purchase is not exercised, or upon sooner termination
of this Lease, LESSEE will return the Equipment, freight prepaid, to
LESSOR at its address shown above in the same condition as when
received (reasonable wear and tear excepted) and LESSEE shall pay for
any repairs necessary to restore the Equipment to that condition.
WARRANTY. Each unit of Equipment is of a size, design and capacity
selected by LESSEE and is suitable for its purpose. No warranty, express
or implied, and no representations, promises or statements have been made
by LESSOR unless endorsed in writing, except that if the Equipment is
new equipment, LESSOR (but not LESSOR'S assignee) adopts the war-
ranty against defective materials or workmanship as set forth in the manu-
facturer's current warranty applying to such new equipment. THERE IS
NO IMPLIED WARRANTY OF MERCHANTABILITY OR OF FITNESS
FOR A PARTICULAR PURPOSE. IN NO EVENT SHALL LESSOR BE
LIABLE FOR SPECIAL, INCIDENTAL, OR CONSEQUENTIAL
DAMAGES.
LIABILITY INSURANCE COVERAGE FOR BODILY INJURY AND
PROPERTY DAMAGE CAUSED TO OTHERS IS NOT INCLUDED IN
THIS LEASE BUT IS REQUIRED TO BE PURCHASED SEPARATELY
BY LESSEE UNDER SECTION 3.
ADDITIONAL TERMS. LESSEE UNDERSTANDS AND AGREES
THAT THE ADDITIONAL TERMS AND CONDITIONS ON THE
REVERSE SIDE ARE INCORPORATED BY REFERENCE AND ARE A
PART OF THIS LEASE. NOTICE. SEE OTHER SIDE FOR IMPORTANT
INFORMATION.
NOTICE TO LESSEE: 1. DO NOT SIGN THIS CONTRACT BEFORE
YOU READ IT OR IF IT CONTAINS ANY BLANK SPACES; 2. YOU
ARE ENTITLED TO AN EXACT COPY OF THE CONTRACT YOU
SIGN; 3. UNDER THE LAW YOU HAVE THE RIGHT TO PAY OFF IN
ADVANCE THE FULL AMOUNT DUE AND TO OBTAIN A PARTIAL
REFUND OF THE SERVICE CHARGE (FINANCE CHARGE).
LESSOR'S NAME and Address (Incl. ZIP Code)
Empire Bobcat, Inc,
4890 Robb Street
Wheat Ridge, Colorado
8Q033~ .
LOCATION OF EQUIPMENT: LESSEE agrees
Equipment will be kept at the following locat
(or, if left blank, at LESSEE'S address) and
not be removed without the consent of LESS(
Address
City County
State Zip
SERIALNO(S) LESSEE will not sell or lease the equipment witho
the prior written consent of Clark Equipment Cre
Corporation (CREDIT) which consent will not
unreasonably withheld. In the event of any nr
approved sale or lease the unpaid balance shall acc
erate and become immediately clue and payable. ,
SECURITY INTEREST. To secure the obligatio
under this lease and all other obligations now or
the future owed to Lessor or CREDIT, LESS(
reserves title to and a security Interest under t
Uniform Commercial Code In the Equipment and
all attachments, accessories, tires, replacements
1 repairs placed on the Equipment now or in t
future, plus proceeds (including Insurance p,
ceeds).
1. CASH PRICE (Including any Applicable Tax) $ 1 2, 21 nn
2. TOTAL DOWN PAYMENT (a+b) . , , • • , • • • • $ 0-
(a) CASH DOWN PAYMENT $ -0-
(b) ALLOWANCE FOR TRADE-IN $
Description of Trade-In (Including serial number)
3. UNPAID BALANCE OF CASH PRICE (1-2) $ 12, 214.00
4. INSURANCE PREMIUM (Property Insurance for
Cash Price of Equipment)
5.OFFICIAL FEES $
6. PRINCIPAL BALANCE (3+4+5) $ 12,214,00
7. SERVICE CHARGE (FINANCE CHARGE)
(Time Price Differential) $ 2,180 .19
8. TIME BALANCE (Aggregate Rental) (6+7) $ 14_, 394.19
9. TIME SALE PRICE
(TIME PRICE) (2+8+Option Price) $ 14, 95 19
RENT: For use of Equipment during the term of this Lease, LESSEE will
pay CREDIT at the place designated by CREDIT, the Aggregate Rental
shown above in rental instalments commencing on -0-
and on the same day of each successive month as follows: '
399
$3
$
.
400
14
EACH
FOR
THE FIRST
35
INSTALMENT(S)
-
EACH
FOR
THE NEXT
INSTALMENT(S)
$
EACH
FOR
THE NEXT
INSTALMENT(S)
$
EACH
FOR
THE
NEX I
INSTALMENT(S)
$
EACH
FOR
THE N
EXT
INSTALMENT(S)
$
EACH
FOR
THE NEX
T
INSTALMENT(S)
OR AS INDICATED BELOW, UNTIL PAID:
LESSOR AND LESSEE- HAVE EXECUTED THIS LEASE VH OPTION TO PURCHASE N LESSEE ACKNOWLEDGES RECE PTOF A TRUE AND COMP ETELY FULLED IN COPY OF THIS LEASE.
, THE CONTRACT DATE.
LESSEE Town of Avon
(Type or print LESSEE'S name)
tsy Title
LESSOR- Em>,j r__ apbsa} a Ton
By Title
EXHIBIT A
0 6 1 1
STATE OF COLORADO )
COUNTY OF EAGLE ) SS
TOWN OF AVON )
NOTICE IS HEREBY GIVEN OF A PUBLIC HEARING BEFORE THE TOWN COUNCIL
OF THE TOWN OF AVON, COLORADO, AT 7:30 P.M. ON THE 25TH DAY OF
JANUARY, 1983 AT THE MUNICIPAL BUILDING, 400 BENCHMARK ROAD, AVON,
COLORADO FOR THE PURPOSE OF CONSIDERING THE ADOPTION OF ORDINANCE
N0.#83-1, SERIES OF 1983:
AN ORDINANCE AUTHORIZING EXECUTION OF A CERTAIN EQUIPMENT LEASE
AGREEMENT
A copy of said Ordinance-is attached hereto and is also on file
at the office of the Town Clerk and may be inspected during regular
business hours.
Following this hearing, the Council may consider final passage of the
ordinance.-
This notice given and passed by order of the Town Council of the Town
of Avon, Colorado.
Dated this 11th day of January, 1983
POSTED AT THE FOLLOWING PUBLIC PLACES-WITHIN THE TOWN OF AVON ON
JANUARY 18, 1983:
THE MAIN ENTRANCE OF THE POST OFFICE,
THE MAIN ENTRANCE TO CITY,MARKET,
THE PESTER GAS STATION; AND
THE MAIN LOBBY IN THE MUNICIPAL BUILDING
t