HomeMy WebLinkAbout20031555.tiff Grader Buyback Agreement MAIN OFFICE:
P-O.Box28
Denver, CO80201-0028 80201-0028
Fax: 303-288-6809
Phone: 303-288-6801
( POWER EQUIPMENT CO. )
Weld County
Purchasing Department
915 Tenth Street
Greeley, CO 80631
Subject: Addendum to Purchase Order #P0300300 for (2) Volvo G720B,
S/N (35671 and 35672)
Dear Weld County:
This Agreement addresses the buyback option on the Volvo G720B motor
graders
Power Equipment Company agrees to a guaranteed buyback of the Volvo
G720B motor grader subject to the following conditions:
1. Customer may exercise a 5 year buyback from the date of signed order
for purchase of this machine.
2. Customer must give Power Equipment Company 30 calendar days written
notice of intent to exercise its rights under this Buyback
- Agreement.
3. Customer must not be in default under all terms of its underlying
contract and must be current on all payments.
4 . Any modification or re-negotiation of the terms of the underlying
contract without Power Equipment Company' s written authorization
renders this contract unenforceable and void.
5. The buyback amount in year 5 will be $108, 000 and the machine must
not have in excess of (5000) hours per calendar year on the
hourmeter. Excess hours will be charged at $50. 00 per hour.
6. Customer, at its cost, must have annual Customer Maintenance
Inspections (CMI' s) performed on the machine by Power Equipment
Company in accordance with the Customized Maintenance Inspection
Program.
7. Oil samples must be taken and submitted on a regular basis (the
costs of which shall be paid by customer) .
8. The machine will be returned FOB Power Equipment Company, Denver,
Colorado on the date of exercise of this Buyback Agreement, cleaned
and in good operating condition (fully functional) , less normal wear
and tear. While in customer possession, the machine shall he
2003-1555
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2940 East Las Vegas St. P.O.Box 1848 7058 Salt Creek Hwy.,#1 567 B Comanche Ln.,NE
Colorado Spgs.CO 80906 Grand Junction,CO 81502 Casper,WY 82601 Albuquerque,NM 87107
Fax: 719-390-9604 Fax: 970-243-0726 Fax: 307-577-9703 Fax: 505-345-4715
Phone: 719-392.1155 Phone: 970-243-0722 Phone: 307-577-9700 Phone: 505-344-9466
Page two
Grader Buyback Agreement
Dealer/Customer
serviced per Volvo maintenance specifications. The machine must
include all original Champion/Volvo original parts components,
except tires. Tires must have a minimum of 50% tread remaining or
shall be replaced by customer.
9. Customer shall be responsible for the cost of any necessary repairs
to put the machine in good operating condition (fully functional) .
At its option, Power Equipment Company may inspect the machine after
receipt of the thirty day notice of exercise of the buyback.
Customer agrees to co-operate in such inspection, including making
service records available. Customer agrees to pay the estimated
cost of repairs determined to be necessary by said inspection, at
the time of exercise of this Buyback Agreement.
10. At the time of exercise of its rights hereunder, customer shall
provide Power Equipment Company with a bill of sale certifying the
machine to be free and clear of all liens and encumbrances and shall
execute such other documents as Power Equipment Company and/or Volvo
may reasonably request.
AGREED AND ACCEPTED day 2003.
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DealerCustomer WELD COUNTY
BOARD OF COUNTY COMMISSIONERS
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