HomeMy WebLinkAbout740601.tiff RESOLUTION
WHEREAS, it is the desire of the Board of County Commissioners,
Weld County, Colorado, to lease purchase from the Greeley National
Bank, Greeley, Colorado, for the use of the Weld County Sheriff's De-
partment, the following automobiles, to-wit:
1 - 1974 Dodge Monaco Police, Serial No.
DK41 M4D 231687
1 - 1974 Dodge Monaco Police, Serial No.
DK41 M4D 231690
1 - 1974 Dodge Monaco Police, Serial No.
DK41 M4D 231689
1 - 1974 Dodge Monaco Police, Serial No.
DK41 M4D 178683
1 - 1974 Dodge Monaco Police, Serial No.
DK41 M4D 231688
as per motor vehicle lease purchase agreement attached hereto and made
a part hereof by reference, for a total lease purchase price of Sixteen
Thousand Five Hundred Dollars ($16, 500. 00) payable in twelve (12) suc-
cessive monthly installments of One Thousand Three Hundred Seventy Five
Dollars ($1, 375. 00) each, beginning September 1, 1974, and continuing
until fully paid.
NOW, THEREFORE, BE IT RESOLVED, that the County of Weld,
State of Colorado, agrees to lease purchase from The Greeley National
Bank the aforementioned vehicles upon all of the terms and conditions as
recited in said lease agreement attached hereto and made a part hereof
by reference.
Dated this 14th day of August, A.D. , 1974.
THE BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
AM{ A, (//�', 1h(2r
�
4
ATTEST:
Weld County Clerk and Recorder
and Clerk to the Board
• BY > 2, c[t
Deputy County Clerk
APPROVED AS TO FORM:
(
County Attorney
tit
740601
•
PERSONAL PROPERTY LEASE
1. LEASE. THE GREELEY NATIONAL BANK , anational banking association, hereinaftercalledBANK,
hereby leases to eld County, .::torte of Colorado, Board of County Commissioners
hereinafter called LESSEE, and LESSEE hereby hires from BANK, the personal property hereinafter called the EQUIPMENT,
described in Schedule A, attached hereto and made a part hereof, or any subsequent schedules which mayhereafter be made apart
hereof, upon the following terms and conditions.
2. TERM. The term of this lease with respect to the EQUIPMENT shall be as set forth in Schedule A, or in any subsequent
schedules which may hereafter be made a part hereof.
3. RENT. The rent for the EQUIPMENT shall be as set forth in Schedule A, or in any subsequent schedules which may
hereafter be made a part hereof, and shall be payable at the times therein indicated. Any past due payment of rent shall bear
interest at the rate of EIGHT percent(8%)per annum.
4. USE. LESSEE shall use the EQUIPMENT in a careful and proper manner and shall comply with and conform to all national,
state, municipal, and other laws, ordinances and regulations in any way relating to the possession, use or maintenance of the
EQUIPMENT. If at any time during the term hereof BANK supplies LESSEE with labels, plates or other markings, stating that the
EQUIPMENT is owned by BANK, LESSEE shall affix and keep the same upon a prominent place on the EQUIPMENT.
5. INSPECTION BY LESSEE. LESSEE shall inspect the EQUIPMENT within forty-eight (48) hours after receipt thereof. Unless
LESSEE within said period of time gives written notice to BANK specifying any defect in or other proper objection-to the
EQUIPMENT, LESSEE agrees that it shall be conclusively presumed, as between BANK and LESSEE, that LESSEE has fully in-
spected and acknowledged that the EQUIPMENT is in good condition and repair, and that LESSEE is satisfied with and has accepted
the EQUIPMENT in such good condition and repair.
6. INSPECTION BY BANK. BANK shall at any and all times during business hours have the right to enter into and upon the
premises where the EQUIPMENT may be located for the purpose of inspecting the same or observing its use. LESSEE shall give
BANK immediate notice of any attachment or other judicial process affecting any item of EQUIPMENT and shall, whenever re-
quested by BANK, advise BANK of the exact location of the.EQUIPMENT.
7. ALTERATIONS. LESSEE is hereby given the right to make alterations, additions or improvements to the EQUIPMENT, so
long as the value of the EQUIPMENT is not reduced thereby. All additions and improvements of whatsoever kind or nature made
to the EQUIPMENT shall immediately become the property of BANK and subject to the terms of this lease.
8. MAINTENANCE AND REPAIR. LESSEE, at its own cost and expense, shall keep the EQUIPMENT in goodrepair, condition
and working order and shall furnish any and all parts, mechanisms and devices required to keep the EQUIPMENT in good
mechanical and working order.
9. LOSS AND DAMAGE. LESSEE hereby assumes and shall bear risk of loss and damage to the EQUIPMENT from any and
every cause whatsoever, whether or not insured. No loss or damage to the EQUIPMENT or any part thereof shall impair any
obligation of LESSEE under this lease which shall continue in full force and effect.
In the event of loss or damage of any kind whatever to the EQUIPMENT, or any part thereof, LESSEE at the option of BANK
shall•
(a)Place the same in good repair, condition and working order; or
(b) Replace the same with like property in good repair, condition and working order;which property shall thereupon become
subject to this lease;
(c)Pay BANK therefore in cash the"Stipulated Loss Value"as set forth in Schedule A or any subsequent schedules which may hereafter be made
a part hereof. Upon such payment this lease shall terminate with respect to the EQUIPMENT or part thereof so paid for and LESSEE thereupon shall
become entitled thereto.
10. SURRENDER OF EQUIPMENT, Upon the expiration or earlier termination of this lease, with respect to the EQUIPMENT
or any part thereof, LESSEE shall (unless LESSEE has paid BANK in cash the "Stipulated Loss Value" of the EQUIPMENT or any
part thereof pursuant to Paragraph 9 hereof) return the same to BANK in good repair, condition and working order, ordinary wear
and tear resulting from proper use thereof alone excepted, in the following manner as may be specified by BANK
(a)By delivering the EQUIPMENT at LESSEE's cost and expense to such place as BANK shall specify within the county in
which the same was delivered to LESSEE or to which same was moved with the written consent of BANK; or
(b)By loading the EQUIPMENT at LESSEE's cost and expense on board such carrier as BANK shall specify and shipping the
same, freight collect, to the destination designated by BANK.
11. INSURANCE. LESSEE, at its own expense, shall maintain the EQUIPMENT insured for such risks and in such amounts
as BANK shall require with carriers acceptable to BANK, shall maintain a loss payable endorsement in favor of BANK affording to
BANK such additional protection as BANK shall require, and shall maintain liability insurance satisfactory to BANK. Altsuch in-
surance shall name BANK and LESSEE as insured, and the policies shall provide that they may not be cancelled or altered without
at least ten (10) days' prior written notice to BANK and the loss payable endorsement shall provide that all amounts payable by
reason of loss of or damage to the EQUIPMENT shall be payable only to BANK. LESSEE shall deliverto BANK evidence satisfactory
to BANK of all such insurance. If loss or damage occurs under circumstances in which LESSEE is not in violation of the terms of
any such policies, and if LESSEE has fulfilled its obligations under Paragraph 9 of this lease, and is not otherwise in default under
this lease, BANK will pay to LESSEE so much of any insurance proceeds received by BANK as a result of such loss or damage as
will fully reimburse LESSEE for the net expense it incurs in fulfilling its obligations under said Paragraph 9.
12. TAXES. LESSEE shall pay and discharge all license fees, assessments and sales, use, property and other tax or taxes now
or hereafter imposed by any State, Federal or local government upon the EQUIPMENT ownership, leasing, renting, sale; pos-
session or use of the EQUIPMENT whether the same be assessed to BANK or LESSEE, together with any penalties or interest in
connection therewith, excepting Federal, State or local governmental taxes, or payments in lieu thereof, imposed upon or
measured by income of the BANK. If any tax is, by law, to be assessed or billed to BANK, LESSEE at its expense will do any and
all things required to be done by BANK in connection with the levy, assessment, billing or payment of such taxes and is hereby
authorized by BANK to act for and on behalf of BANK in any and all such respects; LESSEE will cause all billings of such taxes to
BANK to be made to it in care of LESSEE and will from time to time, on request of BANK, submit written evidence of the pay-
ment of all of the governmental obligations mentioned in this paragraph. LESSEE will, on any property tax returns required to be
filed by it, include the property covered by this lease or any substitutions or additions thereto as property owned by the LESSEE
for purposes of tax assessments. It is expressly agreed that LESSEE-will not, without obtaining prior written permission of BANK,
assert on its behalf, or on behalf of BANK, any immunity from taxation based upon the fact that BANK is a national bank.
13. LESSEE'S FAILURE TO PAY TAXES, INSURANCE, ETC, Should LESSEE fail to make any payment or do any act as herein
provided, then BANK shall have the right, but not the obligation, without notice to or demand upon LESSEE, and.without releas-
ing LESSEE from any obligation hereunder, to make or do the same, and to pay, purchase, contest or compromise any encum-
brance, charge or lien which in the judgment of BANK appears to affect the EQUIPMENT, and in exercising any such rights, incur
any liability and expend whatever amounts in its absolute discretion it may deem necessary therefor. All sums so incurred or
expended by BANK shall be without demand immediately due and payable by LESSEE and shall bear interest at the rate of ten
percent (10%)per annum.
14. INDEMNITY. LESSEE shall indemnify BANK against, and hold BANK harmless from any and all claims, actions, suits,
proceedings, costs, expenses, damages and liabilities, including attorney's fees, arising out of, connected with, or resulting
from the EQUIPMENT, including without limitation the manufacture, selection, delivery, possession, use, operation or return
thereof.
L-64
15. DEPOSIT OF SECURITY. The amount which LESSEE has deposited with BANK as security, if any, as set forth in Schedule
A, or any subsequent schedules which may hereafter become a part hereof, shall be as security for LESSEE's obligations hereunder.
Said sum may, at BANK's option, be applied to satisfy any such obligation which may be in default, but the making of such de-
posit shall not excuse LESSEE from any such obligation. Any portion of said sum which has not been so applied by BANK will be
returned to LESSEE at the termination of this lease,
16. DEFAULT. The occurrence of any of the following events shall, at the option of BANK, terminate this lease and LESSEE's
right to possession of the EQUIPMENT:
(a) The nonpayment by LESSEE for a period of ten (10) days of any sum required hereunder to be paid by LESSEE.
(b) The default by LESSEE under any other term, covenant or condition of this lease which is not cured within ten (10) days
after notice thereof from BACK.
(c) Any affirmative act of insolvency by LESSEE, or the filing by LESSEE of any petition or action under any bankruptcy,
re-organization, insolvency or moratorium law, or any other law or laws for the relief of, or relating to, debtors.
(d) The filing of any involuntary petition under any bankruptcy statute against LESSEE, or the appointment of any receiver
or trustee to take possession of the properties of LESSEE, unless such petition or appointment is set aside or withdrawn or ceases
to be in effect within sixty (60) days from the date of said filing or appointment.
(e) The subjection of any of LESSEE's property to any levy, seizure, assignment, application or sale for or by any creditor
or governmental agency.
Upon the happening of any of the above events, BANK may without notice to or demand upon LESSEE:
(a) Take possession of the EQUIPMENT and lease the same or any portion thereof, for such period, rental, and to such per-
sons as BANK shall elect and apply the proceeds of any such renting, after deducting all costs and expenses incurred in connection
with the recovery, repair, storage and renting of the EQUIPMENT, in payment of the rent and other obligations due from LESSEE
to BANK hereunder, LESSEE remaining responsible for any deficiency.
(b) Take possession of the EQUIPMENT and sell the same or any portion thereof at public or private sale and without de-
mand or notice of intention to sell, and apply the proceeds of any such sale, after deducting all costs and expenses incurred in
connection with the recovery, repair, storage, and sale of the EQUIPMENT and any rentals and other obligations of LESSEE then
due hereunder, against the "Stipulated Loss Value" of the EQUIPMENT sold. If the proceeds, after the permitted deduction, are
less than the "Stipulated Loss Value", LESSEE shall immediately pay BANK the difference.
17. OFFSET. LESSEE hereby waives any and all existing and future claims and offsets against any rent or other payments due
hereunder, and agrees to pay the rent and other amounts due hereunder regardless of any offset or claim which may be asserted
by LESSEE or on its behalf.
18. EFFECT OF WAIVER. No delay or omission to exercise any right, power or remedy accruing to BANK upon any breach
or default of LESSEE under this lease shall impair any such right, power, or remedy of BANK nor shall it be construed to be a
waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring;
nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter
occurring. Any waiver, permit, consent or approval of any kind or character on the part of BANK of any breach or default under
this lease, or any waiver on the part of BANK of any provision or condition of this lease, must be in writing and shall be effective
only to the extent in such writing specifically set forth. All remedies, either under this lease or by law, or otherwise afforded
to BANK, shall be cumulative and not alternative.
19. ATTORNEYS' FEES. In the event of any action at law or suit in equity in relation to this lease, LESSEE, in addition to
all other sums which LESSEE may be called upon to pay, will pay to BANK a reasonable sum for its attorneys' fees.
20. ASSIGNMENT. Without the prior written consent of BANK, LESSEE shall not (a) assign, transfer, pledge or hypothecate
this lease, the EQUIPMENT or any part thereof, or any interest therein, (b) sublet or lend the EQUIPMENT or any part thereof,
or (c) permit the EQUIPMENT or any part thereof to be used by anyone other than LESSEE or LESSEE's employes. BANK may
assign its interest, or a part thereof, in this lease.
21. LOCATION OF EQUIPMENT. LESSEE will not, without the prior written consent of BANK, permit the EQUIPMENT to be
removed from tin ,
22. OWNERSHIP, The EQUIPMENT is and shall at all times be and remain, the sole and exclusive property of BANK, and
LESSEE shall have no right, title or interest therein or thereto except as expressly set forth in this lease.
23. PERSONAL PROPERTY, The EQUIPMENT is, and shall at all times be and remain, personal property notwithstanding
that the EQUIPMENT or any part thereof may now be, or hereafter become, in any manner affixed or attached to, or imbedded
in, or permanently resting upon, real property or any building thereon, or attached in any manner to what is permanent as by
means of cement, plaster, nails, bolts, screws or otherwise.
24. APPLICABLE LAW. This lease shall be governed by, and construed under the laws of the State of Colorado
25. SUSPENSION OF OBLIGATIONS OF BANK. The obligations of BANK hereunder shall be suspended to the extent that it is
hindered or prevented from complying therewith because of labor disturbances, including strikes and lockouts, acts of God, fires,
storms, accidents, governmental regulations or interference or any cause whatsoever beyond the control of BANK.
26. LESSEE shall keep books and records in accordance with good accounting practice and shall deliver to BANK financial and profit and loss state-
ments in such form and at such times as BANK may require.LESSEE shall permit BANK to examine and audit the books of the business of LESSEE.
27. WARRANTIES.LESSEE ACKNOWLEDGES THAT THE EQUIPMENT IS OF A SIZE,DESIGN,CAPACITY,AND MANUFACTURE SELEC-
TED BY LESSEE.BANK IS NOT A MANUFACTURER OF THE EQUIPMENT OR A DEALER IN SIMILAR EQUIPMENT,DOES NOT INSPECT THE
EQUIPMENT PRIOR TO DELIVERY TO LESSEE AND HAS NOT MADE AND DOES NOT MAKE ANY REPRESENTATION,WARRANTY,OR
COVENANT, WITH RESPECT TO THE CONDITION, QUALITY, DURABILITY, SUITABILITY,OR MERCHANTABILITY OF THE EQUIPMENT
IN ANY RESPECT,OR ANY OTHER REPRESENTATION,WARRANTY OR COVENANT,EXPRESS OR IMPLIED.BANK WILL,HOWEVER,TAKE
ANY STEPS REASONABLY WITHIN ITS POWER TO MAKE AVAILABLE TO LESSEE ANY MANUFACTURER'S OR SIMILAR WARRANTY
APPLICABLE TO THE EQUIPMENT. BANK SHALL NOT BE LIABLE TO LESSEE FOR ANY LIABILITY, LOSS,OR DAMAGE CAUSED OR
ALLEDGED TO BE CAUSED DIRECTLY OR INDIRECTLY BY THE EQUIPMENT BY ANY INADEQUACY THEREOF OR DEFICIENCY OR DE-
FECT THEREIN OR BY ANY INCIDENT WHATSOEVER IN CONNECTION THEREWITH.
28. NOTICES, Any communications between BANK and LESSEE, payments, and notices provided herein to be given or made,
may be given or made by mailing the same to BANK at 1 n,t ('Ffi ra Rry 109R nreolcy, Crlprtko
and to LESSEE at cold r,,.,r� r'lrthouz;e, °r?tlo3'-, Codor- do
or to such other addresses as either party may in writing hereafter indicate,
IN WITNESS WHEREOF, the parties hereto have executed this lease as of this3Sfey of July , 19_72_4- ,
eld County, :;tote of Colorado
THE GREELEY NATIONAL BANK Jour iof County
Commi cci anpra
us
E ELZLORADO By 01-0,1; L4J "L/
4.77
By
y Vice 1resident C
By By
By Tt7CJ
PERSONr . PROPERTY LEASE SrEDULE
Schedule A
A. EQUIPMENT LEASED•.
Item Number Description
DK4l M4D 231687 1974 Dodge Monaco olice
DK41 MND 231690 1974 Dodge Monaco }olice
DK41 M4D 231689 1974 Dodge Monaco }olice
DK41 M4D 178683 1974 Dodge Monaco 1olice
DK41 114D 231688 1974 Dodge Monaco Police
B. TERM: The term of this lease shall commence on the date that the EQUIPMENT is delivered to LESSEE and, unless sooner
terminated as set forth in the lease, shall expire on August 1, 1975
C. RENT: As rent for the EQUIPMENT, LESSEE shall pay BANK at its Greeley. Colorado Office. the sum of
:sixteen Thousand Five Hundred and no/100 —DOLLARS
16,500.00 12 monthly
($ payable in successive
instalments of $1,575.06 each, beginning ,;eptember 1. 1974
and continuin until paid in full. iwaratGX
D. USE TAX: Use Tax applicable under this lease transaction in the amount of
na DOLLARS
($ na ) shall be paid by LESSEE to BANK as follows:
($ na ) on ; ($ )on
($ na ) on
E. SECURITY DEPOSIT: BANK hereby acknowledges the receipt of
Tin DOLLARS
($ as ) from LESSEE, as a security deposit.
F. RENEWAL OPTION: LESSEE is hereby given ei successive options to renew the lease of which this schedule is a part,
for a one (1)year period, upon the same terms and conditions of the lease; provided, however that the rent for the EQUIPMENT
during any such renewal period shall be as follows:
1st Yr. $ 3rd Yr. $
2nd Yr. $ 4th Yr. $
payable annually in advance. Said options must be exercised by the giving of a written notice by LESSEE to BANK of LESSEE's
intention to exercise the same, not less than sixty(60)days before the expiration of the term of this lease, or any renewal of the
lease.
G. STIPULATED LOSS VALUE The Stipulated Loss Value of the EQUIPMENT during the successive years of the lease terms shall
be as follows:
1st Yr. $ na 6th Yr. $
aid Yr. $ 7th Yr. $
3rd Yr. $ 8th Yr. $
4th Yr. $ $
5th Yr. $ $
The Stipulated Loss Value of each item of EQUIPMENT shall be that portion of the total Stipulated Loss Value which equals the
percentage which the cost of that item bears to the total cost of the EQUIPMENT.
II. SPECIAL CONDITIONS:
l'aximum allowable milea e (0,000 miles per year---excess c 3¢ per mile
APPROVED AND AGREED TO this 31st day of July , 192,
as a schedule to that certain lease dated the 31st day of July , 192,
by and between the parties hereto, and hereby made a part thereof.
THE GREELEY NATIONAL BANK eld County, :state of Colorado
Board of County Commissioners
_ ,_GR , OLORADO L'E95EE
By y TITL �
T'r'-� ice I resident— 4iT'-
By By ���/I'-[�{
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