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02/07/1978FLORIDA-GEORGIA TRACTOR COMPANY, INC. EQUIPMENT LEASE Remit Rental Payments to: Florida -Georgia Tractor Company, Inc. Telephone Inquiries to: P.O. Box 600190 (305) 944-1441 North Miami Beach Florida 33160 294-1810 Name Board of County Commissioners, Monroe County Phone No. 294-4641 LESSEE Address P.O. Box 1680 City Key West State Florida Zip Code 33� Lessee agrees to lease from Florida -Georgia Tractor Company, Inc. ("FGT") the DESCRIPTION equipment ("Equipment") described below: OF One - GALION 10-12 Ton Chief Three Wheel Roller, Roll-O-Matic with IH UD-282 diesel engine, 12 volt electr� is system. 32 amps alternator. EQUIPMENT " LEASED Serial Number 44180 Lessee leases the Equipment for the period commencing Fehruarx 1;,,___•, 19j�, And ending December 31., 1918, subject to prior termination for breach hereof. F Lessee acknowledges receipt of the Equipment in good, safe and serviceable condi- tion. For use of the Equipment, Losses agrees to pay FGT rout at the rate of $ 835.00 per month, payable in advance on the Is t day of _FebruarX and on the same day of each successive month theraa ter during the term of this Lease. In addition, Lessee will pay the following: Advance Rental Deposit $ None Delivery Charge $Customer to nick up. TERMS Return Charge, $Custome r to return. Lessee will use the Equipment only at the following location, and at no other, without the prior written consent of FGT: Monroe Cou0tX. Florida . FGT will deliver tho7squipment to sea at the fo lowing s location: 15151 st Dixie Hichog. Wgth MiamiBeach , Florida. upon ter- mination o this Lease, Lessee will deliver the Wipment to POT at 15151 , - West Dixie Highway, North Miami Beach, Flay' Ida Lessee agrees to insure the u va ue o t u plsent age t all risks under an all risk policy (not more than $230.00 deductible) and to insure against general liability xn the use and operation of the Equipment under a comprehensive E INSURANCE general liability policy (not more than $250.00 deductible) having limits of liability of not less than $300,000, Bodily Injury and $100,000 Property Damage. A copy of each such policy will be furnished to FGT. The policy will (1) contain a loss payable clause in favor of FGT, (2) now FGT as an additional insured, and (3) provide POT willibe given at least 10 days prior written notice of any cancellation. Lessee is hereby given the right and privilege, at its option, put prior to tier - urination of this Lease, and provided the Loss* is not in default hereunder, to purchase the Equipment upon any of the following dotes at the respective option price shown, provided that all rents and other mounts theretofore due and pay- able hereunder have been paid in full: OPTION TO Date Option Price Date = Option Price PURCHASE Janes 179 $119.705 Ogg $ '; Unless FGT otherwise agrees in writing at the ties of a nrcise of the option, pay - meat of the full option price shall be wade by the Lessee to FCT in cash .Apon exercise of the option, and thereupon this Lease shall terminate and no further rentq shall, become due hereunder. THE TERMS AND CONDITIONSt I1ICLODING WARRANTY LIMITATIMI ON Thai =VXR= $IN An PART OF TRIO LEASE. Executed in quadruplicate,•ois copy of which was delivered to and retained by Losses at the time of the execution hereof. .This Is - day of February 9.19L. FLORIDA-GSOit A ViY, INC. P.G. Hewitt it e: Vice President L88M: BOARD OF COUNTY COMMISSIONERS. MONROE CO ay: TLt1 : ATTEST : ' Clerk _ TERMS AND CONDITIONS 1. ACCEPTANCE. This document will constitute a binding agreement subject to the terms and conditions hereof when executed by Lessee and by a duly authorized officer of FGT. FGT may terminate this Lease without liability to Lessee upon (a) receipt of an unsatisfactory credit repQrt on Lessee or (b) discovery of any mathematical error or deviation from FGT's standard prices or a steno'graphic, clerical or printing error in this Lease. 2. INTEREST. Lessee will pay interest on each delinquent installment of rent or other charge from the stated due date until paid, at the rate of 10% per annum. 3. OPERATIONS; MAINTENANCE. Lessee, at its own cost and expense, will use the Equipment in a careful and prudent manner, keeping the same in good repair and properly lubricated, and operated at all times by an experienced and competent operator. In the use and the operation of the r Equipment, Lessee will operate and maintain the Equipment in accordance with all instructions and recommendations of the manufacturer and such additional instructions as FGT may from time to time issue. Lessee will operate the Equipment in compliance with all applicable laws, rules and regulations, including without limitation, the Occupational, Safety and Health Act. Lessee will not assign this Lease or sublet the use of the Equipment or permit any person other than Lessee's employee to operate the Equipment without the prior written consent of FGT. Lessee will keep the Equipment free from all liens, encumbrances, security interests and other harges of any nature whatsoever, voluntary or involuntary. At the termination of this Lease, Lesseg will return the Equipment to FGT in the same condition in which it was received by Lessee, excepting only ordinary wear and tear. _ 4. TAXES. Lessee will pay all sales and use taxes and similar taxes in connection with this Lease. 5- -INSPECTION. FGT will have the right at any reasonable time to inspect the Equipment. 6. RISK OF LOSS. Lessee assumes all risk of loss with respect to the Equipment and upon any theft, damage, destruction, waste or other loss of or to the Equipment, resulting from any cause whatsoever, Lessee will promptly repair the Equipment so that the Equipment is in the same condition in which it was received by Lessee. If such repair is not possible, Lessee will pay FGT an amount equal to the fair market value of the Equipment, less any amounts paid to-FGT in respect of such lose from insurance provided for under this Lease. 7. NO WARRANTY. NO WARRANTIES, EXPRESS OR IMPLIED, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, ARE EXTENDED TO LESSEE WITH RESPECT TO THE EQUIPMENT. 8. LESSEE'S INDEMNITY. FGT will not be liable for, and Lessee will indemnify, defend and hold harmless FGT against any damage, loss (including without limitation payment of FGT's attorneys' fees incurred in connection with judicial proceedings in courts of original jurisdiction and courts of appeal) or injury of any kind to FGT or Lessee, any employee of either, or any other person or party occasioned by the Equipment or by the rental, possession, operation, maintenance or use of the Equipment, including without limitation that arising by reason of strict liability and that caused in whole or in part by the negligent conduct of FCT or any of its employees, agents or independent contractors, and against any claims related thereto. In no event will FGT be liable to Lessee for incidental or consequential damages. 9. P.OULT � ShouT Lessee default in the payment when due -of -any sum'to'b`Q pili'Mereunder, or fail to perform at the time and in the manner herein specified any term or covenant in this Lease, time being of the essence, or in the event of the occurrence of the death, dissolution, termination of existence, insolvency, business failure, appointment of a receiver for any part of the property, assignment for the benefit of creditors or commencement of any proceeding under any bankruptcys.reorganization or insolvency laws of, by or against Lessee, Lessee shall be in default hereunder and the entire amount of rent due and to become due hereunder and all other sums for which Lessee is liable hereunder shall become immediately due and payable and FGT may repossess the Equipment with or without legal process (Lessee hereby authorising the peaceful entry for said purpose on any premises of Lessee or to which Lessee has access). FGT may also exercise any and all other lawful remedies FGT may have by reason of Lessee's default. Lessee agrees to pay FGT's costs and expenses of collection and/or repossession including without limitation attorneys' fees incurred in connection with collection and/or repossession and in connection with judicial proceedings in courts of original jurisdiction and courts of appeal. Upon default, Lessee's right to possession shall terminate but Lessee shall continue to remain liable to FGT for unpaid rent and for any damages sustained by FGT by reason of Lessee's breach of the covenants contained herein. Should Lessee fail for any reason to return the Equipment to FGT promptly upon termination of this Lease, the parties agree that Lessee will pay FGT as reasonable rental for such period as Lessee continues to hold the Equipment a monthly rental of 150Z of the monthly rental set forth on the face hereof for each 30 day period Lessee continues to,retOR..,posseasion of the Equipment. 10. GENERAL. Discontinuance of or substantial interference with FGT'a business, in whole or in part, by reason of fire, flood, earthquake, tempest, labor disputes, war, act of God or public enemy, embargo, civil commotion or governmental regulation or other causes beyond FGT's control will give FGT the option of terminating this Lease without liability to Lessee. Lessee represents to FGT that the Equipment Ie being leased for commercial use and not for personal or household purposes. This Lease will be governed by the law of the State of Florida and constitutes the entire contract between Lessee and FGT with respect to the Equipment hereunder. No representation or statement not expressed herein will be binding on FGT. All rights of FGT hereunder will inure to the benefit of its successors and assigns; and all obligations of Lessee hereunder will bind the heirs, legal representatives, successors and assigns of Lessee. If there be more than one Lessee, their obligations hereunder shall be joint and several. This is an equipment lease'only, and is not a contract of sale. If determined to be a contract of sale, however, the parties intend that this Lease is their security agreement.