HomeMy WebLinkAbout790670.tiff RESOLUTION
RE: APPROVAL OF LEASE AGREEMENT BETWEEN THE UNITED BANK OF GREELEY,
LEASING DIVISION, AND WELD COUNTY, COLORADO AND AUTHORIZATION
FOR CHAIRMAN TO SIGN THE SAME.
WHEREAS, the Board of County Commissioners of Weld County,
Colorado, pursuant to Colorado statute and the Weld County Home
Rule Charter, is vested with the authority of administering the
affairs of Weld County, Colorado, and
WHEREAS, a lease agreement between the United Bank of Greeley,
Leasing Division, and Weld County, Colorado concerning the leasing
of a copy machine has been presented to the Board of County Com-
missioners of Weld County, Colorado, and
WHEREAS, the term of said lease shall be from November 1 ,
1979 through October 31, 1980 and may be renewed for four suc-
cessive one-year periods after the initial lease year, and
WHEREAS, the Board of County Commissioners deems it advis-
able to approve said lease agreement and further to authorize
the Chairman to sign the same.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Com-
missioners of Weld County, Colorado that the lease agreement
between the United Bank of Greeley, Leasing Division, and Weld
County, Colorado concerning the leasing of a copy machine be,
and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman of
the Board of County Commissioners be, and hereby is , authorized
to sign said lease agreement.
The above and foregoing Resolution was , on motion duly made
and seconded, adopted by the following vote on the 7th day of
November, A.D. , 1979 .
• BOARD OF COUNTY COMMISSIONERS
ATTEST: �� vx., 'i r✓ WELD COUNTY, COLORADO
Weld County Clerk and Recorder (Aye)
and Clerk to the Boa d Norman Carlson, Chairman
By '^ K ' c �t nbar1 4a°7fir.F/ (Aye)
De uty County 'lerk - L d ' Du
A"•Rs • 'D AS TO FORM: (ABSENT)
C. W. Kirby
77/
County Attorney
torney -tc,ut JL QC/ (Aye)
Leonard L. Roe
2,-. ,gge)
Julie K. Stei mark
DATE PRESENTED: NOVEMBER 19 , 1979
•
• LEASE AND OPTION AGREEMENT
E591-1
THIS LEASE AND OPTION AGREEMENT, hereinafter referred to as "Agreement"
by and between United Bank of Greeley, Leasing Division, 1000 — 10th Street ,
Greeley, Colorado 80631, a Colorado Corporation, hereinafter referred to as
"Lessor", and Weld County Government 1516 Hospital Rd. - Greeley, Colnradn 80631
hereinafter referred to as "Lessee,"
WITNESSETH:
1. Lease. Lessor hereby rents and leases to Lessee and Lessee hereby
rents and leases from Lessor the property -described in Exhibit A attached ,
hereto and made a part hereof (the Property) for the term of one year from
the 1st day of Nov. 1979 , to the 31st day of Oct. 1980 •
Lessee shall have the option to renew this lease for four successive one year
periods after the initial lease year. Lessee's option to renew this lease
shall be deemed to have been automatically exercised by Lessee each lease
year unless at least 30 days prior to the expiration of any lease year
Lessee gives Lessor written notice of Lessee's intention to renew the lease.
2. Rental. The rental for the initial year and all renewal years
of this lease shall be due on the dates and in the amounts provided in
Exhibit B, Rental and Stipulated Value, attached hereto and made a part
hereof.
If, as a result of any change in the United States Internal
Revenue Code, Regulation, Revenue Rulings, or an audit and assessment
made against Lessor, the interest portion of each annual lease payment is
declared to be subject to federal taxation to Lessor (and not exempt
income) , the rental amount provided in Exhibit B shall be modified. Com-
mencing with the effective date of such change in the tax status to Lessor
of the interest payments, the interest rate applied to the unpaid stipulated
value shall be 3 percent above the prime interest rate of United
Bank of Greeley then being charged to its most credit-worthy customers.
Said interest rate shall thereafter be adjusted on the first day of each
renewal year of the lease so that interest rate for each subsequent
lease year shall be 3 percent above the United Bank of Greeley
prithe interest rate on the first day of said renewal year.
3. Taxes. Lessee ;, rees to pay, anc to . ncc:ani:.y : -hc ----"- '-
harmless from, all licnn. , sales , use , personal proper, or other taxes
together with any penalties , fines or interest thereon imposed against
Lessor with respect to the Property, except any federal or state income
taxes payable by Lessor. Lessee may in good faith and by appropriate
proceedings contest any such taxes so long as such proceedings do not
involve any danger of sale, forfeiture or loss of the Property or any
interest therein.
4. Utiliy Charges. Lessee shall pay all charges for gas , water,
steam, electricity, light, heat or power, telephone or other utility
service furnished to or used on or with the Property (including charges for
installation of such services) during the term of this lease and any re-
newal terms. There shall be no abatement of rent on account of the
interruption of any such services.
5. Use, Licenses. Lessee will not install, use, operate or maintain
the Property improperly, carelessly, in violation of any applicabel law or
in a manner contrary to that contemplated by this agreement. Lessee shall
provide all permits and licenses, if any, necessary for the installation
and operation of the Property.
6. Maintenance. At its own expense Lessee shall service, repair and
maintain the Property so as to keep the Property in as good condition, re-
pair, appearance and working order- as when delivered- to-Lessee- hereunder,
ordinary wear and tear excepted, and shall replace any and all parts and
devices which may from time to time become worn out, lost, stolen, destroyed ,
damaged beyond repair or rendered unfit for use for any reason whatsoever.
All such replacement parts, mechanisms and devices shall be free and clear
of all liens, encumbrances and rights of others, shall become the property
of Lessor and shall be covered by this lease to the same extent as the
Property originally covered by this lease.
7. Alterations. (a) Lessee may install such miscellaneous equip-
ment as may be necessary to use the Property for its intended purposes.
All such equipment placed or installed on the Property may be removed by
Lessee upon termination provided that removal will not substantially
damage the property,
(b) Without the prior written consent of Lessor, Lessee shall not
make any other alteration, changes, modification, additions or improvements
to the Property except those needed to comply with Lessee's obligation
under paragraph six (6) and those permitted by Subparagraph 7 (a) . Any
alterations, changes , modification, additions and improvements made to
the Property shall immediately become the property of Lessor.
8. Liens. Lessee shall not directly or indirectly create, incur,
assume or suffer to exist any mortgage, pledge, lien, charge, encumbrance
or claim on or with respect to the Property except the respectiverights
of Lessor and Lessee as herein provided. Lessee shall promptly, at its
own expense, take such action as may be necessary to duly discharge any
such mortgage, pledge, lien, charge, encumbrance or claim not excepted
above if the same shall arise at any time.
(2)
9. Damage to or De=truct_io_n ot r9Jcrty. . n
of the Property is lost tolen , destroyed or damaged 1 one repair, Lessee
shall replace the same at Lessee's sole cost and expense within 30 Rays
after such event and such replacement shall be substituted in this lease by
appropriate endorsement. If Lessee fails or refuses to replace such Pro-
perty within the required period , Lessor may at its option declare the portion
of "Stipulated Value"; set forth herein, attributable to such Property due
and payable. Upon such payment this lease shall terminate with respect to
such Property so paid for and Lessee thereupon shall become entitled to
.such Property as-is-where-is without warranty, express or implied, with re-
spect to any matterwhatsoever except that such Property shall not be subject
to any lien or encumbrance created by or arising through Lessor. All insurance
proceeds received by Lessor under the policies required under Paragraph 10
hereof with respect to Property lost, stolen, destroyed or damaged beyond
repair shall be paid to Lessee if such Property is replaced by Lessee as re-
quired hereunder, or, if Lessee fails or refuses to make the required re-
placement, shall be credited against the amount of the "Stipulated Value"
payable by Lessee.
10. Insurance: At its own expense, Lessee shall cause casualty insurance
to be carried and maintained on the Property and shall carry public liability
and property damage insurance, with all such coverage to be in such amounts
against such risks, in such form and with such insurers as Lessor may specify
from time to time. All insurance policies shall name both Lessor and Lessee
as insureds-: Insurance proceeds-from casualty losses to the extent -of the
"Stipulated Value" of the respective Property shall be payable solely to
Lessor. Lessee shall deliver to Lessor evidence of insurance satisfactory to
Lessor, together with receipt for the initial premiums before the property is
delivered to Lessee. Renewal policies, together with receipts showing payment
of the applicable premiums, shall be delivered to Lessor at least 30 days be-
fore expiration of the policies being renewed. By endorsement upon the policy
or by an independent instrument furnished to Lessor, each insurer shall agree
that ii will give lessor at least 30 days written notice prior to cancellation
or alteration of the policy. Lessee shall also carry workemen' s compensation
insurance covering all its employees working on, in or about the Property and
shall require any other person or entity working on, in or about the Property
to carry such coverage, and will furnish to Lessor certificates evidencing such
coverage throughout the term of this lease.**
11. Indemnification. Lessee shall indemnify, protect , save and keep
harmless Lessor from and against any and all liability, obligations, losses,
damages, penalties, claims, actions, costs and expenses (including attorneys'
fees) of whatsoever kind and nature imposed on, incurred by or asserted against
Lessor which in any way relate to or arise out of ownership, delivery, lease,
possession, use, operation, conditions, sale or other disposition of the
Property.
12. Representations and Warranties. (a) Lessor hereby assigns to Lessee
for and during the term of this lease all manufacturer warranties and guaran-
tees, expressed or implied, issued on or applicable to the Property and Lessor
authorizes Lessee to obtain the customary services furnished in connection
with such warranties and guarantees at Lessee's expense. Lessee acknowledges
that the Property has been purchased by Lessor in accordance with Lessee's
specifications and from vendors selected by Lessee, that Lessor is not a
manufacturer
of or a dealer in such Property, that Lessor has made no representation or
warranty and assumes no obligation with respect to the merchantability con-
dition, quality or fitness of the Property or the enforcement of the manufacturer's
(3)
warranties anc LUa: v: '.ees.
•
(b) Lessee represents and warrants that it has power to enter into this
lease agreement , that all required procedures for execution of this lease
agreement , including competitive bidding if applicable , have been complied
with, and that all rentals will be paid out of funds which are legally avail-
able for such purposes.
13. Option to Purchase. When the total stipulated value is paid , title
to the property will be transferred to the Lessee. Lessee may purchase the
Property at the end of the initial or any renewal term for the "Stipulated
Value" set forth above. Such option shall be exercisable by written notice
to Lessor not less than 30 days prior to the end of the current lease term.
The closing shall be within 10 days of the end of the lease term at the office
of Lessor, at which time Lessor shall deliver to Lessee a bill of sale tran-
sferring the Property to Lessee free from any lien or encumbrance created by
or arising through Lessor, but without other warranties, and shall deliver
all warranties and guarantees of the builders and manufacturers of the Prop-
erty.
14. Lessee's Inspection. Unless Lessee within five business days after
delivery of the Property gives written notice to Lessor, specifying any
defectin or other proper objection to the Property, it shall be conclusively
presumed that Lessee is satisfied with and has accepted the Property as being
in good condition and repair.
15. Default. If either, Lessee fails to pay rent or any other amount
herein provided when due and payable, or, if Lessee fails to perform promptly
any of the other obligations or covenants herein and such default continues
for a period of 30 days after Lessor gives Lessee written notice of such
default, then in any such event Lessor may pursue one or more of the following
remedies (which shall be cumulative and exercisable concurrently or separately)
as Lessor in its sole discretion may elect:
(a) Terminate this lease and repossess the Property leased hereunder
in which event the rent for the remainder of the current term (whether the
initial term or a renewal term) or any other charge provided for herein
which is unpaid shall become immediately due and payable.
(b) Sell the Property or any portion thereof at public or private sale
without demand or notice of intention. If the proceeds from such sale and
the costs of repossession and sale exceed the Stipulated Value as of the
time of default, the excess proceeds from such sale shall be payable to Lesssee.
If the Stipulated Value and the cost of and repossession of such sale at such
time exceeds the proceeds from such sale, Lessee shall, be for the
deficiency.
(c) Any remedy available at law or in equity, with respect to all such
remedies, Lessee hereby expressly waives any damages occasioned by the reposs-
ession and if any Property has been destroyed or damaged beyond repair, Lessee
shall pay the "Stipulated Value" (less the credit for insurance proceeds)
to Lessor.
16. Termination. Upon the expiration of this lease, or the earlier
termination thereof, Lessee shall return the Property to Lessor in the cond-
ition, repair, appearance and working order required in paragraph six (6)
hereof (unless Lessee has paid Lessor the "Stipulated Value" for such
Property) , in the following manner as may be specified by Lessor:
(a) By delivering the Property at Lessee's cost and expense to such place
as Lessor shall specify within the Lessee's state; or (b) by loading such
portions of the Property as are considered movable at Lessee's cost and expense,
on board such carrier as Lessor shall specify and shipping the same, freight
prepaid, to the destination designated by Lessor. If Lessee refuses to return
(4)
theFroperty in the mannc Designated, Lessor may repossc such Property
and r',:arf,e to Lessee the costs of such repossession or pursue any remedy
described in paragraph 15 above.
17. Assignment and Sublease. Without the prior written consent of
Lessor, Lessee shall not (a) assign, transfer, pledge or hypothecate this
lease, the Property, or any part thereof, or any interest therein; or (b)
sublet the Property or any part thereof, or permit the Property to be used
for any purposes not permitted by paragraph 5.
18. Personal Property. The Property is and shall at all times be and
remain personal property notwithstanding that the Property or any part
thereof may now be or hereafter become in any manner affixed or attached
to or embedded in or permanently rested upon real property or any building
thereon or attached in any manner to what is permanent by any means of
cement, plaster, nails, bolts, screws or otherwise.
19. Lessor's Right to Perform for Lessee. If Lessee fails to make any
payment or fails to perform or comply with any of its covenants or obligat—
ions, Lessor may at its election, make such payment or perform or comply with
such covenants and obligations and the amount of such payment and the expenses
incurred by Lessor in performing or complying with such covenants and oblig—
ations, as the case may be, together withinterest thereon at the rate of
percent per annum, shall be deemed additional rent payable by Lessee
upon demand.
20. Interest. If lessee fails to pay any part of the rent herein
reserved within 10 days after the due date thereof, Lessee shall pay to
Lessor interest on such delinquent payment from the due date until paid at
the rate of 18 percent per annum.
21. Notices. All notices to be given under this lease shall be made in
writing and mailed to the other party at its address set forth herein or at
such address as the party may provide in writing from time to time. Any such
notice shall be deemed to have been received 48 hours after mailing.
22. Miscellaneous. (a) At all reasonable times, Lessor or its author—
ized representative may inspect the Property and the books and records of
Lessee with respect thereto: (b) Lessee may not offset any amount due it
by Lessor against any rent or other payments due hereunder; (c) no covenant
or obligation to be performed by Lessee may be waived except by the written
consent of Lessor; (d) This agreement shall be construed and governed in
accordance with the laws of the Lessee's state; (e) This agreement constitutes
the entire agreement between the parties and this lease shall not be modified,
amended, altered or changed except by a written document signed by both parties;
(f) Any provision of this agreement found to be prohibited by law shall be
ineffective to the extent of such prohibition without invalidating the re—
mainder of this agreement; (g) Subject to the provision of paragraph 11,
this lease shall be binding upon and inure to the benefit of the parties and
their respective successors and assigns.
(S1
INWITNESS WHEREOF The Parties have executed this agreement
this 25th day of October, 1979
• Lessor•
Attest: UNITED BANK OF GREELEY, LEASING DIVISION
v
By
• Witness: Lessee: .
•
WELD COUNTY GOVERNMENT =
•
•
BY
chairman of the Board
01-ga
\� .. /n/ •67y�, y mss- •c
. J� !1 Q l�{.wv. t"FJ ,02 of r✓
7-6'
•
(C\
UNITED BANK OF GREELEY, LEASING DIVISION
LISTING OF EQUIPMENT
Exhibit "A"
THE LESSEE IS: WELD COUNTY GOVERNMENT
1 - SAVIN 780 Copier
S#981205219
•
•
•
(71
WELD COUNTY GOVERNMENT - - - _
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CERTIFICATE
I,
of WELD COUNTY GOVERNMENT
hereby certify that a Lease and Option
Agreement dated October 25, 1979 between UNITED BANK OF GREELEY,
LEASING DIVISION, and WELD COUNTY GOVERNMENT ,as Lessee, leasing
,the property described in EXHIBIT A attached to the lease, was executed by
me on the 25th day of October, 1979 ; that I have
full power and authority to execute this Lease and that the power to enter
into contracts, -with -certain limitations not applicable here, granted by
the'- - Froper Authority - has not been withdrawn.
IN WITNESS WHEREOF, I have set my hand and- affixed: the seal of
WELD COUNTY GOVERNMENT this 25th day of
OCTOBER , 1979
� Qh
LanM.•L2
V - Weld C°-/I-5', Colorado
•
(SEAL)
Chairman, Board of Cccnty Commissioners
(9)%
•
RECEIPT
•
The undersigned, Lessee under that certain personal property
lease agreement dated October 25, 1979
in the amount of Five thousand two hundred sixty dollars & No/100
with UNITED BANK OF GREELEY, LEASING DIVISION as •Lessor, hereby acknowledges
receipt in good condition of all of the personal property described ,in said
Lease Agreement, and hereby certifies that the Lessor has fully and satisfact-
orily performed all covenants and conditions to be performed by it under said
} _
Lease Agreement.
DATED:
- P J
LESSEE:
WELD COUNTY GOVERNMENT
Chairman, B rd of County Cora; 0_
avvvt
(1 111
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