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HomeMy WebLinkAboutMurphy Tractor & Equipment-Rental Agreement-10.20.2008 EQUIPMENT RENTAL AGREEMENT FOR OFFICE USE LESSEE NAME �i� )� o : %o..9 0 - 0 r City ofi WateAtoo - Stkeet Department / /�L�c STREET ADDRESS a_....., /!iA OO �� DATE GOVT.BID NUMBER DEALER ACCOUNT NUMBER 1314 Back Hawk S.tAeet 11/6/08 7943 CITY STATE ZIP CODE LESSOR NAME&ADDRESS (ilatextoo Iowa 50702 Murphy Tnac ton g Equipment TELEPHONE Area Code(319 ) 291-4445 3469 W A.uc.U,i.n.e Hwy NAME OF CONTACT PURCHASE ORDER NO. Mark Race Wateneoo, Iowa. 50703 EQUIPMENT (County) (City) (State) COUNTY CODE WILL BE p, ,,` LESSEE WILL NOT REMOVE THE EQUIPMENT FROM THIS USED AT: &ack Hawk Wateneoo IA IA013 I LOCATION WITHOUT WRITTEN PERMISSION FROM LESSOR. Rentals are Payable in Advance of Use of Equipment RENTAL TERM RENTAL IS: Hour Da Week Month MINIMUM RENTAL ADDITIONAL CHARGES(Specify): Begin Date: 11/15/08 End: 3/15/09 GUARANTEED BY LESSEE $ 4,200.00Per:I I I �X $ $ DESCRIPTION OF RENTAL EQUIPMENT REFERENCE NO. MODEL DESCRIPTION OF EQUIPMENT PRODUCT IDENTIFICATION NO. HOUR METER PRESENT VALUE 116325 770CH Moon Gnaden DW770CH587361 6691 114,500 TOTAL PRESENT VALUE ► PURCHASER TYPE(check one) MARKET USE(check one) _ Forestry — Material Handlingcont'd Non-governmental _ Agriculture — 21 Harvesting — 76 Sand,Gravel&Stne _ Underground S Small Fleet(less than 10) — 17 General Utility — 24 Log Loading&Handling — 86 Steel Mill — 50 Energy Related Pipeline .— M Medium Fleet(10-24) — 13 Livestock/Feedlot/Dairy — 25 Mill&Wood Yards — 82 Sewer Gas/Water/Electric Water Utilities Miningoli Quarrying — 43 Sewer and Water Systems L Large Fleet(25-74) — 15 Row Crop/Small Grain — 22 Reforestation/Site Preparation_ 34 Coal Mining g y — V Very Large Fleet L75) — 16 Specialty Crop — 23 Road Building&Maintenance — 31 Metallic Mining — 81 Telephone Company Fleet sae=maneer ofsHes in the oft-rose, Building a yro„�a r„�v,dna,� — 28 Skidding&Forwarding — 36 Stone/Aggregate Other construction machines customers fleet — 42 Non-residential — 27 Stroke Delimbing 80 Recyclin 71 Airport Runways and Aprons (owned,leased or rented for 3 months w longer) — 26 Timber Felling Governmental — 41 Residential &Bunching — Rental&Lease Companies 99 Auction/resale — 47 Demolition — 93 Nursery&Landscaping P 94 Golf Courses 2 Federal Govt. Earthmoving — 84 Landfily Refuse — 96 Independent Rental Company 92 Highway Mowing 3 State/ProvinceralGovt. — tsae wevlv'dro""al Material Handling — 90 John Deere Dealership/Rental Fleet 95 Light Duty Maintenance 4 County — 40 Non-residential — Building 35 Oil Field 75 Asphalt/Concrete Prod — Road XX 5 City/TownNillage — 39 Residential — — 48 Bridge Construction and Maint. 87 Parks — 12 Land Improvement — 77 Brick,Clay,Glass — 6 Armed Forces — 49 Hwy&Street Construction and Maint. 74 Railroads 78 Environmental Cleanup — —85 Chemical Plant 51 Hwy/ Parking lot Paving 79 Cemeteries — 61 Manufacturing&Ind.Use Handling — 67 Scrap Handl 56 Port/Steve./Bulk Hdlg Lessor hereby leases to Lessee the equipment identified above("Equipment")for the Lessee shall indemnify Lessor against all loss or damage to the Equipment while it is term and with the rental payments set out above. Rental payments shall be made to out of Lessor's possession.The amount of any such loss or damage will be based on Lessor at the address shown above, subject to the provisions of Paragraph 4 on the the value shown above.Damage to the Equipment,other than a total loss,will not abate reverse side hereof.The Equipment will be transported to and from Lessor's place of or excuse the making of prescribed rental payments.Lessee agrees to use and care for business during the rental term at Lessee's expense. Lessee also agrees to pay any the Equipment in a careful and prudent manner. additional charges noted above upon or before receiving the Equipment from the Lessor. Lessee agrees to pay all operating and maintenance expenses while the Equipment is It is contemplated that the Equipment will be operated for not more than: out of the Lessor's possession,and to make or secure any needed repairs.All repairs NO.OF HOURS IN ANY ONE DAY NO.OF HOURS IN ANY ONE WEEK NO.OF HOURS IN ANY ONE MONTH shall be at Lessee's expense, except to the extent that Lessor performs repairs and obtains compensation for doing so from the manufacturer.To the extent permitted by 60 law,neither Lessor,its assigns,the wholesale distributor or the manufacturer makes any Lessee agrees to pay additional rental prorated at the a licable daily,week( representation or promise as to the quality,performance or freedom from defect of the PPY or monthly Equipment, and NO IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS IS rate for each hour the Equipment is used in excess of such time.The additional rent for MADE.Neither Lessor,its assigns,the wholesale distributor or the manufacturer will be excess hours of use will be paid at the time the Equipment is returned or,if the Equipment liable for any incidental or consequential damages which may result from the use, is leased for more than thirty days,on the first day of the month following such use.If performance or failure of the Equipment.Lessee acknowledges that the Equipment is of an hour meter is furnished, (1)Lessee agrees to keep it connected to the Equipment a size, design and capacity selected by Lessee and that Lessee is satisfied that the and in good working condition at all times, and (2) it will be used as the conclusive Equipment is suitable for Lessee's purposes. measure of the number of hours of operation. Lessee will return the Equipment to Lessor in as good condition as received,reasonable If Lessee fails to return the Equipment by the end of the rental term, Lessee will pay wear and tear excepted,by the end of the rental term.If the Equipment is not in such additional rental,prorated at one and one-half times the normal rental,for each day that good condition upon its return to Lessor and Lessor elects to repair it,Lessee will pay the Equipment remains unreturned. for such repairs at Lessor's regular shop rates. Lessee assumes all risks and liability for and agrees to hold Lessor and its assigns Lessor may, at Lessor's option, replace the Equipment with a similar machine at any harmless from all personal injuries and deaths,property damage,suits,claims(including time during the rental term. Lessor will notify Lessee if Lessor intends to exercise this third party claims),losses,expenses,costs,and attorney fees,arising from or in con- option,and Lessee will have three(3)business days following such notice in which to nection with the Lessee's use,possession,entrustment to others,or transportation of exercise the purchase option provided below or return the Equipment to Lessor.Upon the Equipment. Lessee,at Lessee's own expense,will carry general liability insurance return of the Equipment to Lessor,the rental term hereunder shall terminate, and the with limits of liability not less than$1,000,000 per occurrence and$1,000,000 aggregate, parties will enter into a new original Rental Agreement covering the replacement machine. Such new Rental Agreement shall extend,at a minimum,for the remainder of this Rental unless greater liability limits are specified below. PER OCCURRENCE LIMIT AGGREGATE LIMIT Agreement's rental term and have a rental rate no greater than the rate for rental of the Equipment hereunder. Upon or before the end of the rental term, Lessee may elect to purchase the Equipment for the"Total Present Value"specified on this Rental Agreement,and may Lessee agrees to furnish a certificate of insurance to Lessor's satisfaction evidencingg apply to such purchase price % of all rentals previously paid.An Lessee's compliance with the foregoing requirement and name the Lessor as an additional election to purchase will be evidenced by execution of a purchase order form supplied insured on the Lessee's general liability policy upon demand by Lessor. by Lessor. THIS RENTAL AGREEMENT IS SUBJECT TO ALL OF THE TERMS AND CONDITIONS SET OUT ON THE REVERSE SIDE HEREOF. LESSEE(Customer)-All new equipment rented hereunder was received with LESSOR (Dealer) -The equipment rented hereunder was set up, inspected Operator's Manuals,and operation and servicing have been explained to me. and, if new,adjusted according to factory recommendations before delivery. Operation and servicing have been explained to the Lessee. // / ®0. SIG ATURE OA SIGNATURE DATE DF-2119 Stock(1/08)Printed in U.S.A. ORIGINAL EQUIPMENT RENTAL AGREEMENT FOR OFFICE USE LESSEE NAME ' City o6 Watettoo - Stue.t Department STREET ADDRESS DATE GOVT.BID NUMBER DEALER ACCOUNT NUMBER 1314 lack Hawk St'Leet 11/6/08 7943 CITY STATE ZIP CODE LESSOR NAME&ADDRESS WateAtoo Iowa 50702 Mwcphy T'a.e ton & Equipment TELEPHONE Area Code( 319 ) 291-4445 3469 W kiJt1.ine Hwy NAME OF CONTACT PURCHASE ORDER NO. Mack Rice Wateneoo, Iowa 50703 EQUIPMENT (County) (City) (State) COWILL BEUNTY CODE USED AT: Stack Hawk LESSEE WILL NOT REMOVE THE EQUIPMENT FROM THIS Wa ten eoo IA IA013 I LOCATION WITHOUT WRITTEN PERMISSION FROM LESSOR. Rentals are Payable in Advance of Use of Equipment RENTAL TERM RENTAL IS: Hour ri Week Month MINIMUM RENTAL ADDITIONAL CHARGES(Specify): GUARANTEED BY LESSEE Bgin Datte: 11/15 08 Da e: 3 15 09 $4 200.00 Per:I I I I IX I $ $ DESCRIPTION OF RENTAL EQUIPMENT REFERENCE NO. MODEL DESCRIPTION OF EQUIPMENT PRODUCT IDENTIFICATION NO. HOUR MEDINTERG PRESENT VALUE U6328 770CH Motors Gnaden VW770CH587360 6855 114,500 TOTAL PRESENT VALUE ► PURCHASER TYPE(check one) MARKET USE(check one) _ Forestry _ Material Handling cont'd Underground Non-governmental _ Agriculture — 21 Harvesting — 76 Sand,Gravel&Stone ._ S Small Fleet(less than 10) — 17 General Utility — 24 Log Loading&Handling — 86 Steel Mill — 50 Energy Related Pipeline M Medium Fleet(10-24) — 13 Livestock/Feedlot/Dairy — 25 Mill&Wood Yards — 82 Sewer ter/Electric Utilities — Mining&Quarrying — 43 Sewer and Water Systems L Large Fleet(25-74) — 15 Row Crop/Small Grain — 22 Reforestation/Site Preparation— 34 Coal Mining — V Very Large Fleet L75) _ 16 Specialty Crop — 23 Road Building&Maintenance _ 31 Metallic Mining — 81 Telephone Company Fleet Size=number of self propelled,on-road, — Building(above ground st,,,riP,yw,,,,� — 28 Skidding&Forwarding — 36 Stone/Aggregate — Other constr nt,00 machines in the customer's fleet — 42 Non-residential — 27 Stroke Delimbing — 80 Recycling _ 71 Airport Runways and Aprons (owned leased or rented for 3 months or longed — 41 Residential — 26 Timber Felling&Bunching — 99 Golfour Auction/resale Governmental — Rental&Lease Companies 47 Demolition — 93 Nursery&Landscaping — 96 IndependentCompany — 94 Golf Courses — 2 Federal Govt. 84 Landfill/Refuse Rental Com an _ 92 Highway Mowing 3 State/Province — Earthmoving(site Prep/Peengu - 90 John Deere Dealership/Rental Fleet 95 Light Duty _ 4 County — 40 Non-residential — Material Handling Road Building — il Maintenance — 75 Asphalt/Concrete Prod — ^, 35 Oil Field 5 City/TowniVillage — 39 Residential — 48 Bridge Construction and Maint. _ 87 Parks — 12 Land Improvement — 77 Brick,Clay,Glass — 6 Armed Forces provement _ 49 Hwy&Street Construction and Maint. 74 Railroads 78 Environmental Cleanup — 85 Chemical Plant — 51 Hwy/Street/ParkingHandl lot Paving - - 61 Manufacturing&Ind.Use - 67 Scrap Handling — 79 Cemeteries 56 Port/Steve./Bulk Hdlg Lessor hereby leases to Lessee the equipment identified above("Equipment")for the Lessee shall indemnify Lessor against all loss or damage to the Equipment while it is term and with the rental payments set out above. Rental payments shall be made to out of Lessor's possession.The amount of any such loss or damage will be based on Lessor at the address shown above, subject to the provisions of Paragraph 4 on the the value shown above.Damage to the Equipment,other than a total loss,will not abate reverse side hereof.The Equipment will be transported to and from Lessor's place of or excuse the making of prescribed rental payments.Lessee agrees to use and care for business during the rental term at Lessee's expense. Lessee also agrees to pay any the Equipment in a careful and prudent manner. additional charges noted above upon or before receiving the Equipment from the Lessor. Lessee agrees to pay all operating and maintenance expenses while the Equipment is It is contemplated that the Equipment will be operated for not more than: out of the Lessor's possession,and to make or secure any needed repairs.All repairs NO.OF HOURS IN ANY ONE DAY NO.OF HOURS IN ANY ONE WEEK NO.OF HOURS IN ANY ONE MONTH shall be at Lessee's expense, except to the extent that Lessor performs repairs and obtains compensation for doing so from the manufacturer.To the extent permitted by 60 law,neither Lessor,its assigns,the wholesale distributor or the manufacturer makes any daily, or monthlyrepresentation or promise as to the quality,performance or freedom from defect of the Lessee agrees to pay additional rental prorated at the applicableY weekly Equipment, and NO IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS IS rate for each hour the Equipment is used in excess of such time.The additional rent for MADE.Neither Lessor,its assigns,the wholesale distributor or the manufacturer will be excess hours of use will be paid at the time the Equipment is returned or,if the Equipment liable for any incidental or consequential damages which may result from the use, is leased for more than thirty days,on the first day of the month following such use.If performance or failure of the Equipment.Lessee acknowledges that the Equipment is of an hour meter is furnished, (1)Lessee agrees to keep it connected to the Equipment a size, design and capacity selected by Lessee and that Lessee is satisfied that the and in good working condition at all times, and (2) it will be used as the conclusive Equipment is suitable for Lessee's purposes. measure of the number of hours of operation. Lessee will return the Equipment to Lessor in as good condition as received,reasonable If Lessee fails to return the Equipment by the end of the rental term, Lessee will pay wear and tear excepted,by the end of the rental term. If the Equipment is not in such additional rental,prorated at one and one-half times the normal rental,for each day that good condition upon its return to Lessor and Lessor elects to repair it,Lessee will pay the Equipment remains unreturned. for such repairs at Lessor's regular shop rates. Lessee assumes all risks and liability for and agrees to hold Lessor and its assigns Lessor may, at Lessor's option, replace the Equipment with a similar machine at any harmless from all personal injuries and deaths,property damage,suits,claims(including time during the rental term.Lessor will notify Lessee if Lessor intends to exercise this third party claims), losses,expenses,costs,and attorney fees,arising from or in con- option,and Lessee will have three(3)business days following such notice in which to nection with the Lessee's use,possession,entrustment to others,or transportation of exercise the purchase option provided below or return the Equipment to Lessor.Upon the Equipment.Lessee,at Lessee's own expense,will carry general liability insurance return of the Equipment to Lessor,the rental term hereunder shall terminate, and the with limits of liability not less than$1,000,000 per occurrence and$1,000,000 aggregate, parties will enter into a new original Rental Agreement covering the replacement machine. unless greater liability limits are specified below. Such new Rental Agreement shall extend,at a minimum,for the remainder of this Rental PER OCCURRENCE LIMIT AGGREGATE LIMIT Agreement's rental term and have a rental rate no greater than the rate for rental of the Equipment hereunder. Upon or before the end of the rental term, Lessee may elect to purchase the Lessee agrees to furnish a certificate of insurance to Lessor's satisfaction evidencingEquipment for the"Total Present Value"specified on this Rental Agreement,and may Lessee's compliance reto ih the apply to such purchase price % of all rentals previously paid.An foregoing requirement and name the Lessor as an additional election to purchase will be evidenced by execution of a purchase order form supplied insured on the Lessee's general liability policy upon demand by Lessor. by Lessor. THIS RENTAL AGREEMENT IS SUBJECT TO ALL OF THE TERMS AND CONDITIONS SET OUT ON THE REVERSE SIDE HEREOF. LESSEE(Customer)-All new equipment rented hereunder was received with LESSOR(Dealer) -The equipment rented hereunder was set up, inspected Operator's Manuals,and operation and servicing have been explained to me. and, if new,adjusted according to factory recommendations before delivery. .„-- — (/ Operation and servicing have been explained to the Lessee. SIGNATURE i E D SIGNATURE DATE DF-2119 Stnc.k IV OR)Printed in I I.S.A r i R I rz i m A i EQUIPMENT RENTAL AGREEMENT FOR OFFICE USE LESS&E NAME - City of Wa teneoo - St/Lea Depar tmen t STREET ADDRESS DATE GOVT.BID NUMBER DEALER ACCOUNT NUMBER 1314 & ack Hawk Sticeet 11/6/Ok 7943 CITY STATE ZIP CODE LESSOR NAME&ADDRESS WateAtoo Iowa 50702 Mwifphy T'.ac ton & Equipment TELEPHONE Area Code(319 ) 291-4445 3469 W AAA-tine Hwy NAME OF CONTACT PURCHASE ORDER NO. Mark Rice WateAtoo, Iowa 50703 EQUIPMENT (County) (City) (State) COUNTY CODE WILL BE &II ,/,,. LESSEE WILL NOT REMOVE THE EQUIPMENT FROM THIS USED AT: ALCk Hawk Wate (too IA IA013 I LOCATION WITHOUT WRITTEN PERMISSION FROM LESSOR. Rentals are Payable in Advance of Use of Equipment RENTAL TERM RENTAL IS: Hour Da Week Month MINIMUM RENTAL ADDITIONAL CHARGES(Specify): Date`:' 11/15/USS En e: 3/15/09 $4,200.00 Peril( I II I $UARANTEED BY LESSEE T� $ DESCRIPTION OF RENTAL EQUIPMENT REFERENCE NO. MODEL DESCRIPTION OF EQUIPMENT PRODUCT IDENTIFICATION NO. HOREADINGUR METER PRESENT VALUE U6008 770CH Motor Gnaden IN770CH584429 4294 119,500 TOTAL PRESENT VALUE ► PURCHASER TYPE(check one) MARKET USE(check one) _ Forestry — Material Handling cont'd _ Underground Non-governmental — Agriculture _ 21 Harvesting — 76 Sand,Gravel&Stone — S Small Fleet(less than 10) — 17 General Utility — 24 Log Loading&Handling — 86 Steel Mill — 50 Energy Related Pipeline M Medium Fleet(10-24) — 13 Livestock/Feedlot/Dairy — 25 Mill&Wood Yards _ Mining&Quarrying — 82 Sewerater/Electric Utilities L Large Fleet(25-74) — 15 Row Crop/Small Grain — 22 Reforestation/Site Preparation_ 34 Coal Mining — 431 leph and Water Systems — V Very Large Fleet L75) — 16 Specialty Crop — 23 Road Building&MaintenanceMining — 81 Telephone Company P tY — 31 Metallic Fleet Size=number of self propelled on-mad, — Building l,no.y.„m swup,wa„m — 28 Skidding&Forwarding — 36 Stone/Aggregate air construction machines in the customers fleet — 42 Non-residential — 27 Stroke Delimbing — 80 Recycling71 Airport Runways and Aprons (owned,leased or rented fors months or longer) — 41 Residential — 26 Timber Felling&Bunching 99 Auction/resale Governmental — Rental&Lease Companies 94 Golf Courses — 47 Demolition — 93 Nursery&Landscaping — 96 IndependentCompany — 2 Federal Govt. — 84 Landfill/Refuse Rental Com an 92 Highway Mowing — 3 State/Province — Earthmoving(site vreWpadnwrwl _ 90 John Deere Dealership/Rental Fleet 95 Light Material Handlingil t Duty Maintenance 4 County — 40 Non-residential = 75 Asphalt/ConcreteProd — Road Building 35 Oil Field 5 City/Town/Village — 39 Residential — 48 Bridge Construction and Maint. 87 Parks 12 Land Improvement —. ay,Glass 77 Brick,Cl — 6 Armed Forces — 49 Hwy&Street Construction and Maint. 74 Railroads 78 Environmental Cleanup — 85 Chemical Plant — 51 H /HandlParkin lot Paving— 61 Manufacturing&Ind.Use _ 67 Scrap Handling 9 79 Cemeteries 56 Port/Steve./Bulk Hdlg Lessor hereby leases to Lessee the equipment identified above("Equipment")for the Lessee shall indemnify Lessor against all loss or damage to the Equipment while it is term and with the rental payments set out above. Rental payments shall be made to out of Lessor's possession.The amount of any such loss or damage will be based on Lessor at the address shown above,subject to the provisions of Paragraph 4 on the the value shown above.Damage to the Equipment,other than a total loss,will not abate reverse side hereof.The Equipment will be transported to and from Lessor's place of or excuse the making of prescribed rental payments.Lessee agrees to use and care for business during the rental term at Lessee's expense. Lessee also agrees to pay any the Equipment in a careful and prudent manner. additional charges noted above upon or before receiving the Equipment from the Lessor. Lessee agrees to pay all operating and maintenance expenses while the Equipment is It is contemplated that the Equipment will be operated for not more than: out of the Lessor's possession,and to make or secure any needed repairs.All repairs NO.OF HOURS IN ANY ONE DAY NO.OF HOURS IN ANY ONE WEEK NO.OF HOURS IN ANY ONE MONTH shall be at Lessee's expense, except to the extent that Lessor performs repairs and 60 obtains compensation for doing so from the manufacturer.To the extent permitted by law,neither Lessor,its assigns,the wholesale distributor or the manufacturer makes any Lessee agrees to pay additional rental prorated at the applicable daily,weeklyor monthlyrepresentation or promise as to the quality,performance or freedom from defect of the PP Y Equipment, and NO IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS IS rate for each hour the Equipment is used in excess of such time.The additional rent for MADE.Neither Lessor,its assigns,the wholesale distributor or the manufacturer will be excess hours of use will be paid at the time the Equipment is returned or,if the Equipment liable for any incidental or consequential damages which may result from the use, is leased for more than thirty days,on the first day of the month following such use. If performance or failure of the Equipment.Lessee acknowledges that the Equipment is of an hour meter is furnished,(1)Lessee agrees to keep it connected to the Equipment a size, design and capacity selected by Lessee and that Lessee is satisfied that the and in good working condition at all times, and (2) it will be used as the conclusive Equipment is suitable for Lessee's purposes. measure of the number of hours of operation. Lessee will return the Equipment to Lessor in as good condition as received,reasonable If Lessee fails to return the Equipment by the end of the rental term, Lessee will pay wear and tear excepted,by the end of the rental term.If the Equipment is not in such additional rental,prorated at one and one-half times the normal rental,for each day that good condition upon its return to Lessor and Lessor elects to repair it,Lessee will pay the Equipment remains unreturned. for such repairs at Lessor's regular shop rates. Lessee assumes all risks and liability for and agrees to hold Lessor and its assigns Lessor may, at Lessor's option, replace the Equipment with a similar machine at any harmless from all personal injuries and deaths,property damage,suits,claims(including time during the rental term.Lessor will notify Lessee if Lessor intends to exercise this third party claims),losses,expenses,costs,and attorney fees,arising from or in con- option,and Lessee will have three(3)business days following such notice in which to nection with the Lessee's use,possession,entrustment to others,or transportation of exercise the purchase option provided below or return the Equipment to Lessor.Upon the Equipment. Lessee,at Lessee's own expense,will carry general liability insurance return of the Equipment to Lessor,the rental term hereunder shall terminate, and the with limits of liability not less than$1,000,000 per occurrence and$1,000,000 aggregate, parties will enter into a new original Rental Agreement covering the replacement machine. unless greater liability limits are specified below. Such new Rental Agreement shall extend,at a minimum,for the remainder of this Rental PER OCCURRENCE LIMIT AGGREGATE LIMIT Agreement's rental term and have a rental rate no greater than the rate for rental of the Equipment hereunder. Upon or before the end of the rental term, Lessee may elect to purchase the Lessee agrees to furnish a certificate of insurance to Lessor's satisfaction evidencingEquipment for the"Total Present Value"specified on this Rental Agreement, and may I��,s compliance with apply to such purchase price % of all rentals previously paid.An pl foregoing requirement and name the Lessor as an additional election to purchase will be evidenced by execution of a purchase order form supplied insured on the Lessee's general liability policy upon demand by Lessor. by Lessor. THIS RENTAL AGREEMENT IS SUBJECT TO ALL OF THE TERMS AND CONDITIONS SET OUT ON THE REVERSE SIDE HEREOF. LESSEE(Customer)-All new equipment rented hereunder was received with LESSOR (Dealer)-The equipment rented hereunder was set up, inspected Operator's Manuals,and operation and servicing have been explained to me. and, if new,adjusted according to factory recommendations before delivery. Operation and servicing have been explained to the Lessee. .,‘,4,,,,.., et6--- SIGNATURE D SIGNATURE DATE OF-2119 Stock(1/08)Printed in U.S.A. ORIGINAL.