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HomeMy WebLinkAboutMurphy Tractor & Equip Co. - Rental of 4 graders-10/3/2016Please return this copy to; City Cleik& FlnancePept. 715 Mulberryst.' Waterloo, IA' 50703 EQUIPMENT RENTAL AGREEMENT RENTAL IS: MINIMUM RENTAL - .. - Hour' Day Week Month GUARANTEED BY LESSEE TRAM/Cad EQUIPMENT I SOA° I CR, INC. LESSEE NAME CITY OF WATERLOO STREETADDR- _ PUBLIC WORKS DIVISION 025 GLENWOOD STREET .. - - _ESS .DATEATE . 11/2112018 . - -' GOVT. BIDNUMSER - DEALERA040UNTNUMBER 177049 CITY - WATERLOO STATE -W .. ZIP.a ,60703-4083 -. . NAMabw &_.. LESSOR. E&ADDRESS Murphy Tracto & Equipment Co., Inc. 3469%AIRLINE HWY, '. WATERLOO IA 50703 - - 3192357086-. TELEPHONE. 319:291,-1446 _ _ .. _ - . _ 'NAME OF CONTACT MARK _, 'PURCHASE ORDER NO '. M. RICE ... PURCHASER TYPE: MARKETUQF'r 6- CityrTowriNfilage 98 EQUIPMENT WILL BEUSEDAT (County), �, BLACK HAWK . (City) -WATERLOO (Slate) IA coigne CODE IA013 - . CONTRACT NO 116226. ... . Rentals ere Payable .In Ad'i,n s Of Uae'of Equlpmonk RENTAL TERM _ - Begin Date:. 1112112016 End Sate:,. 18:26/2018.. RENTAL IS: MINIMUM RENTAL - .. - Hour' Day Week Month GUARANTEED BY LESSEE ADDITIONAL CHARGES (Specify) I SOA° I 38 300.00- Per ° 0 0 50,00 - - . DESCRIPT1DN-OF:RENTALEQUIPMENT Rental Unit Ne:..:. Make . Model • -• -Eq lb • PIN No - Hour Mater Reading. Present Value 139193 160667 JOHN DEERE 7700 MISC• 7703 139103 1DW7700%APF8723M 38. 160667 0 5418450,49 320376.66 Total Present Value - 5436,820.04 Lees -or hereby leases to Lessee the equipment. Identified above (Equlpmenf? for the lean and Wilbfile rental payments set out above; Rental payments shall be made to Lessor et the address shown above, subject to the provisions of paragraph 4 on the reverse side hsrspf, The Equipment will be transported to and from Lessors place of business during the rental term at Lessee's expanse, Lessee also agrees to pay anyadditional chargers noted abevmapal Or before receiving the Equipment from me Lessor, it is co-ntemplated that the Equipment will be ppbrptod for not more than: . NO, OF HOURSINANY ONEDAY e -J tall, OF HOURS IN ANYONE WEEK 'ND, OPHOURS:INANYONEMONTH - I— 40 i l 1 Lessee agrees to pay additional rental prorated at the applicable dailyweekly or monthly rate reagr)wur the Equipment Is used in excess of such time. The additions) rent for excess' h um of use will be paid at the,Ume the Equipment Is returned or, if the Equipment released for more than thirty days, on the first day of the month fdloWIng suoh use, clan hour meter is T rnrshed, (1) Lessee agrees tokeepIt connected to the Equipment and in good wo'kki condition at all limes, and (2) It will be used a the ccnolustve measure of the number of hours 0 gperetion, ' . . Tf Lees%e falls to return the Equipment by the end of the rental term, Lessee till pay addltlonal rental prorated at one and onwhalf times thenormal rental, for each day that the Equipment remainsonretumed, ., • lessee assumes ell risks and lIebilyfor and agrees to hold Leeeor and Its assign harmless from ell peraonal 'Marini and death; -property damage, suits, claims (Including third party • halms), losses, weenies, costs, and attorney fees, arising from or in connection wila"NW Isasw'a uta, possession, enWetmenito others, of transportation of the Equipment Leesee, at Lessee's own expense, will carry general liability Insurance with limits of Ilebllllynat lass then 11,000,096 par occurrence end 61,000,000 aggregate, unteas greater liability limits are specified below, . .. _ . PER OCCURRENCE LIMIT PER AGGREGATE LIMIT i. So.06. _(.. L wee agrees to furnish a certificate ofineurance.to Lessors satisfaction evident ng Lessee'scompliance with the foregoing requirement and name the Lessor as an additional Insured. o the Lessee's general [lability policy upon demand by Lessor. • -Lessee shall -.Indemnify Lesion- against all loss or damage to the Equipment while. 11' is out of Leeson possession. The amount of any such loss or damage will be Need on the value s owm above. Damage to thaEguipment other than total lose, will not abate or excuse the making of prescribeed rental payments. Lessee agrees to use and care for the EquIpment In a careful and prudent manner, • Lessee agrees. to pay alt operating and maintenance weenies whlle the Equipment is Our of Bib Lessers posseasiOn, and to make or secure any needed repairs. All repalre shal be et Lessee's expense; except to the extont that Lector performs repairs and obtains compeneatian for doing so from the manufacturer Te the avant pemdtted by law neither Lessor; Its a signs, the wholesale distributor or manufacturer makes any representation or prpmke as to the quality, performance or freedom.trom defect of the Equipment, and NO IMPLIED WARRANTY OF MERCHANTABILITY. OR FITNESS IS MADE, Neither Lessoh itsa asmns, Ore wholesale distributor or manufacturer will be liable for any incidental or consequential - damages which may result from the nee, performance or failure of the Equipment. Lesaae ask/10(0dgen that the Equipment is of a slae,design and cepacltyseleoted by Lessee and . that Lessee Is satisfied that the Equipment U suitable for Lessee%purposes. - - _ Lessee will return iheEQWpment to Lessor in as good condition as received, reasonable wear and tear excepted,by the endof the rental term, If the Equipment Is not in such good condition upon lit return to Lessor and Lessorelects to repair l4 Lessee will pay for such repairs at Lessors regular shop rates. Lessor may, at Lessor's option, replace the Equipment with a etrnller machine at any Vote during Itis rental term, Lessor will notify Lessee 11lasso: Intends to exerc(eethia option, end Lessee will have three (3) blueness days7dlowlnp such notice in which to exerdee the pato/mot 9ption provided below or return the Equipment Wittier. Upon return of the Equipment• to Leasor; the rental termhereundershall terminate, and the parties will enter lnto a new orlglnal Renal Agreement covering the maofiine, Such Mw Rental Agreement • 'shall extend; ata minlmurrt, for the remainder of !Ms .Rental .Agreement's rental term and have arental rate no greater than the rale for rental of Equipment hereunder; Upon or before the end of the rental term, Lessee may elect to pumhese the Equlpmant Mr the 'Total Present Value" spaelfied an this Rental Agreement; and may apply to such purchase mice- (-`( 15 of all rentals previously paid.An eteolion to purchase will be evlancad by execution ora purchase order form supplied by Lessor. . THIS, RENTAL AGREEMENT IS.SUBJEQTT.O ALL orTHE•TERMS AND;COND)TIONS.SET OUT BELOW. LESSEE Altnevlaquipmontrented hotere,darwas recelvadwith Opsratory (Customer)-: Manuals; and epamUon and servicing have beenexplalned to nisi- , • .Signature: l ,X,C..I..S):1Y pt.cL,ln14• .Date: • /s/%i+ Pagel of et'‘,.. Are LESSOR The equipment rented hereunderwae set up. Inspected --and, If new, (Dealer(- adjusted according to factorylacammenda8delivery ona before delive Operation and servicing have been explained to the Laseae. /' Olonnture:-�'�`�-��%..��.— -�— Date: /Z/%a"[F, ORIGINAL Please return this copy to: City Clerk & Finance Dept. 715 Mulberry St. Waterloo, IA 50703 EQUIPMENT RENTAL AGREEMENT r'IiRPi-rr TRACTOR & EQUIPMENT CO., INC. LESSEE NAME CITY OF WATERLOO STREETADDRESS PUBLIC WORKS DIVISION 625 GLENWOOD STREET DATE 11/21/2016 GOVT. BID NUMBER DEALER ACCOUNT NUMBER 177943 CITY STATE ZIP WATERLOO IA 50703-4063 LESSOR NAME &ADDRESS Murphy Tracto & Equipment Co., Inc. 3469 W. AIRLINE HWY. WATERLOO IA 50703 3192357085 TELEPHONE 319-291.4445 NAME OF CONTACT MARK PURCHASE ORDER NO M. RICE PURCHASER TYPE: 5 - City/TownNillage MARKET USE: 98 EQUIPMENT WILL (County) (City) (State) BE USEDAT BLACK HAWK WATERLOO IA COUNTY CODE IA013 CONTRACT NO 115226 n are Payable in Advan RENTAL TERM Begin Date: 11/21/2016 End Date: 12/20/2016 RENTAL IS: Per Hour ❑ Day ❑ Week Month ❑ l.1 MINIMUM RENTAL GUARANTEED BY LESSEE ADDITIONAL CHARGES (Specify) 1—$11).001 L$6,300.00 i 1 50.00 I 1....----_ I OF RENTAL EQUIPMENT Rental Unit No Make Model Eq ID PIN No Hour Meter Reading Present Value 139193 150667 JOHN DEERE 770G MISC 770G 139193 150667 1 DW770GXAFF672334 38 0 Total Present Value $416450.49 $20375.55 $436,826.04 Lessor hereby leases to Lessee the equipment identified above ("Equipment") for the term and with the rental payments set out above. Rental payments shall be made to Lessor at the address shown above, subject to the provisions of paragraph 4 on the reverse side hereof, The Equipment will be transported to and from Lessor's place of business during the rental term at Lessee's expense. Lessee also agrees to pay any additional charges noted above upon or before receiving the Equipment from the Lessor. It is contemplated that the Equipment will be operated for not more than: NO. OF HOURS IN ANY ONE DAY NO. OF HOURS IN ANY ONE WEEK NO. OF HOURS IN ANY ONE MONTH 8 J [ 40 J 1 176 Lessee agrees to pay additional rental prorated at the applicable daily, weekly or monthly rate for each hour the Equipment is used in excess of such time. The additional rent for excess hours of use will be paid at the time the Equipment is returned or, if the Equipment is leased for more than thirty days, on the first day of he month following such use. If an hour meter is furnished, (1) Lessee agrees to keep It connected to the Equipment and in good working condition at all times, and (2)11 will be used as the conclusive measure of the number of hours of operation. If Lessee fails to return the Equipment by the end of the rental term, Lessee will pay additional rental, prorated at one and one-half times the normal rental, for each day that the Equipment remains unretumed. Lessee assumes all risks and liability for and agrees to hold Lessor and its assign harmless from all personal injuries and death, property damage, suits, claims (including third party claims), losses, expenses, costs, and attorney fees, arising from or in connection with the Lessee's use, possession, entrustment to others, or transportation of the Equipment. Lessee, at Lessee's own expense, will carry general liability insurance with limits of liability not less than $1,000,000 per occurrence and $1,000.000 aggregate, unless greater liability limits are specified below. PER OCCURRENCE LIMIT PER AGGREGATE LIMIT I $o.00 $0.00 Lessee agrees to fumish a certificate of insurance to Lessor's satisfaction evidencing Lessee's compliance with the foregoing requirement and name the Lessor as an additional insured on the Lessee's general liability policy upon demand by Lessor. Lessee shall indemnify Lessor against all toss or damage to the Equipment while it is out of Lessor's possession. The amount of any such loss or damage will be based on the value shown above. Damage to the Equipment, other than a total loss, will not abate or excuse the making of prescribed rental payments. Lessee agrees to use and care for the Equipment in a careful and prudent manner. Lessee agrees to pay all operating and maintenance expenses while the Equipment is out of the Lessor's possession, and to make or secure any needed repairs. All repairs 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 law, neither Lessor, its assigns, the wholesale distributor or manufacturer makes any representation or promise as to the quality, performance or freedom from defect of the Equipment, and NO IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS IS MADE. Neither Lessor, its assigns, the wholesale distributor or manufacturer will be liable for any incidental or consequential damages which may result from the use, performance or failure of the Equipment. Lessee acknowledges that the Equipment is of a size, design and capacity selected by Lessee and that Lessee is satisfied that the Equipment is suitable for Lessee's purposes. Lessee will retum the Equipment to Lessor in as good condition as received, reasonable wear and tear excepted, by the end of the rental term. If the Equipment is not in such good condition upon its return to Lessor and Lessor elects to repair it, Lessee will pay for such repairs at Lessor's regular shop rates. Lessor may, at Lessor's option, replace the Equipment with a similar machine at any time during the rental term, Lessor will notify Lessee if Lessor intends to exercise this option, and Lessee will have three (3) business days following such notice in which to exercise the purchase option provided below or return the Equipment to Lessor. Upon return of the Equipment to Lessor, the rental term hereunder shall terminate, and the 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 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 thls Rental Agreement, and may apply to such purchase price I 0 1% of all rentals previously paid. An election to purchase will be evidenced by execution of a purchase order form supplied by Lessor. THIS RENTAL AGREEMENT IS SUBJECT TO ALL OF THE TERMS AND CONDITIONS SET OUT BELOW. LESSEE All new equipment rented hereunder was received with Operator's (Customer) - Manuals, and operation and servicing have been explained to me. Signature: -2/s//Date: Page 1of6 Ckw‘c,L.Q._ P _12tVIb LESSOR The equipment rented hereunder was set up, inspected and, if new, (Dealer) - adjusted according to factory recommendations before delivery. Operation and servicing have been explained to the Lessee. Signature: Date: ORIGINAL RENTAL AGREEMENT 12. Remedies: Upon the occurrence of an Event of Default, Lessee shall (a) deliver the Equipment to Lessor on demand and Lessor may enter upon any job, building or place where the Equipment is located and take possession thereof without notice to Lessee, and this Rental Agreement shall thereupon terminate and be forfeited at the option of Lessor (b) AS LIQUIDATED DAMAGES FOR LOSS OF BARGAIN AND NOTASA PENALTY, pay the sum of (i) all rent and other amounts then due and payable to Lessor; plus (ii) the present value of all remaining rent payments and other amounts, discounted at the rate implicit in this Rental Agreement, (c) pay damages for any injury to the Equipment, legal expenses (including, without limitation, court costs and attorney's fees), the cost of any repossession andtor removal of the Equipment from the possession of Lessee, and all freight, storage, transportation and other charges incurred In such removal and return to Lessor at its place of business. Upon the occurrence of an Event of Default, Lessor may also exercise any other remedy available at law or In equity. These remedies are cumulative, are In addition to any other remedies provided for by law and may be exercised concurrently or separately at any time. No delay in, or failure to, exercise or enforce any right or remedy hereunder, whether in whole or in part, shall serve to waive, compromise, impair or diminish any such rights or remedies. 13. Construction: This Is an agreement for Equipment rental only and nothing herein shall be construed as conveying to Lessee any right, title or interest in or to any item of Equipment rented hereunder except as a Lessee. This Rental Agreement supersedes and replaces all prior understandings and communications (oral or written) concerning the subject matter thereof. In the event of an ambiguity in or dispute regarding the interpretation of this Rental Agreement, Interpretation shall not be resolved by any rule providing for interpretation against the party who causes the uncertainty to exist or against the drafting party. If a court finds any part of this Rental Agreement to be invalid or unenforceable, the remainder of this Rental Agreement will remain in effect. Lessee permits Lessor to monitor and record telephone conversations between Lessee and Lessor. 14. Guaranteed Rental — Return of Equipment: Provided the guaranteed rental shown on Page 1 is or has been paid Lessee may return the Equipment and terminate this Rental Agreement on three days' notice to Lessor. In the event such termination occurs prior to the expiration of the rental Agreement term, Lessee agrees to (a) promptly deliver the Equipment to Lessor at the time and place Lessor chooses; and (b) pay to Lessor the remainder of all rental payments for the Minimum Rental period Guaranteed by Lessee, which will all be Immediately due and payable. If this Rental Agreement is terminated for any reason and lessee does not return the Equipment to Lessor Lessee agrees to remit to Lessor, until such time as the Equipment is returned to Lessor in accordance with the provisions of this Section, additional lease payments each month equal the Rental Rate, or its monthly equivalent. 15. Replacement: Lessor may, at Lessor's option, replace the Equipment with a similar machine at any time during the rental term. Lessor will notify Lessee If Lessor Intends to exercise this option, and Lessee will have three (3) business days following such notice In which to exercise the purchase option provided in this Lease or return the Equipment to Lessor. Upon return of the Equipment to Lessor, the rental term hereunder shall terminate, and the 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 Agreement's rental term and shall have a rental rate no greater than the rate for rental of the Equipment hereunder. Page 4 of 6 16. Lessee Representations and Warranties: Lessee represents, warrants and covenants to Lessor so long as this Rental Agreement is In effect, that: (a) execution, delivery and performance by you of this RentalAgreement does not and will not (1) violate any applicable law; (2) breach any order of court or other governmental agency, or of any undertaking Lessee is a party to or by which Lessee Is bound; (b) Lessee will comply with all applicable laws, ordinances and regulations; (c) Lessee will not take any action, including filing any tax or other report, that is inconsistent with Lessor's ownership of the Equipment; (d) all information Lessee has given to Lessor is true, accurate and complete; (e) since the date of the most recent financial information given to Lessor, no material adverse change in Lessee's business, assets, or prospects has occurred. Lessee will promptly deliver to Lessor such financial statements, reports and other information as Lessor may request; (0 Lessee is and will remain duly organized, validly existing and in good standing under the laws of Lessee's jurisdiction of organization; (g) Lessee is qualified to do business under the laws of all other jurisdictions where qualification is required or advisable; (h) the execution, delivery and performance by Lessee of the Rental Agreement will not breach any provision of Lessee's organizational documents or legal authority. Lessee acknowledges and agrees, that (1) the Equipment was selected by Lessee; (2) the Equipment (including all manufacturer manuals and instructions) has been delivered to, and examined by, Lessee (3) the safe operation and the proper servicing of the Equipment were explained to Lessee (4) Lessee received the written warranty applicable to the Equipment and understands that the written warranty Is not a part of thls Rental Agreement. 17. General: Time is of the essence of this Rental Agreement. LESSOR AND LESSEE EACH IRREVOCABLY WAIVE ANY RIGHT EITHER OF THEM MAY HAVE TO A JURY TRIAL. Lessor's failure at any time to require strict performance by Lessee of any of the provisions of this Rental Agreement shall not waive or diminish Lessor's right thereafter to demands strict compliance therewith or with any provision. Waiver of any default shall not waive any other default. Any alteration or modification of this Rental Agreement shall be in writing and signed by the parties hereto. Lessee acknowledges receipt of a signed copy hereof. Lessee irrevocably authorizes Lessor, at any time, to (a) insert or correct information on this Rental Agreement, including Lessee's correct legal name, serial numbers and Equipment descriptions; (b) submit notices and proofs of loss for any required insurance; and (c) endorse Lessee's name on remittances for insurance and Equipment sale or rental proceeds. Customer's Initials _ Date Please return thisiopyto: City Clerk & Finance Dept 715 Mulberry St. - yuesiu;,. sa amnY • EQUIPMENT RENTAL AGREEMENT • -� TRACTOR rr .8i EQUIPMENT .. CO.; INC, • LESSEE NAME - - CITY 0F WATERLOO STREETAODRESS PUBLIC WORKS DIVISION 626 GLE4WOOD STREET DATE 11i917201e GOVT. BID NUMBER DEALERACCOUNT NUMBER 177943 CMN STATE ZIP WATERLOO IA . 60703-4003 .. - LESSOR NAME & ADDRESS Murphy Tractor & Equipment Co., Inc. .. - 3469 IN, HWY. WATERLOO fA 60703 - _. 3107357005 TELEPHONE - .319.2914445 . NAME OF CONTACT • MARK - - PURCHASE ORDER NO M. RICE - .. . .�.:. PUROHASER TYPE: 5-Clty/TbwnMllage . MARKET VW . • e9 EQUIPMENT WILL (County) - BEUSEDAT BLACK HAWK (Cly) (Stele) . WATERLOO IA GOUNWCOPE 9A019• - - -- .- CONTRACT NO 116223 - - - - Rentals are Payaala.in Advance pf Usef Equipment . RENTAL TERM Begin Date: -11/21/2016 .End Date: ,12)2012016 RENTALIS: • Hour Day Week Month 36,300.00 J Per ❑ ❑ ❑ . a MINIMUM RENTAL GUARANTEED BY LESSEE.. 30.9g ,ta DESCRIPTION OF RENTAL EQUIPMENT Rental Unit No - Make - Model Eq ID • PIN No Hour Meter Reading ADDITIONAL CHARGES (Specify) - 30.00 . J -. Present Value • 145605 JOHN DEERE 770G 150088 MISC 770GP 146596 150880 1DW770GXV0F676a7$ 6 0 Total Present Value $422393.99 $20376.56 $441,709,64 • Lessor hereby !elides toiessee the equipmentidentified above ('Equipment) for the term and withtherental payments set out above: Renter payments shall be medato Lessor at the - address shown above, ;hided to the provleipne of paragraph 4 00 the roverae aide hereof, The Equipment will be transported to end from Lessors place of business during the rental ' -tern! al Ledee&s manes. [nape also agrees -to pet any addIUonel charges noted above upon or before receiving the Equipnxent from the Lessor. -11 le Mittethplated that the EgWpmentwHiti$ Operated for hat Atte than: • - - No,OFHOURSINANY'ONEDAY NO, OF -HOURS IN ANY ONE WEEK NCI,OFHOURS INANYONE MONTH ,.1.: ,... 176--.I Lames agleec lopayaddiUonal rental prorated -at the applicable dally,weekltor.montiily /stator each hour the Equipment ieuaedlnexceas pfauahtima,The additional root for excess.- .-.:hours of use Mll-be paid Mille time theEqulpmenlis tetumid or, if the Equipment Is leased Mr mora then thirty days,onthe first day of he month following such use. Iron hour meter Is - - 'furnished,(1) Leasee agrees to keep It connected to -the Equipment and In good -working odndlUon stall times, and (2)11. will be used a Mme conclusive measure of ahs number of henna . :o operation, ' .. %'If Lessee falls to return -the Equipment by the -end Of the rental term, Lessee will pay additional rental, prorated at one 2nd one-half times the normal rental, for each day that the • Equipment remains unretumed, • --•.- - . - -:-. -Lessee assumes all field end liability -for mid agreesto-hold Lessor and Itsessign hernaess•from altpersonel N)urles and death,properiy damage; sults, Claims jimiuding third party . olafms);toases;expenaes,•costs, and attorney fees, arising. from or In .connection Mtn the Lassee'stiae,possession, entrustment to others; or transportation of the -Equipment: Lessee, at Lessee's own expense, will carry general liability Insurance with limits of debility not leas than $1,001100D per occurrence and 51,000,000 aggregate, unless greater liability ilmtis ere specified below, 40 . PER OCCURRENCE LIMIT • PERAOGREGATE LIMIT . ( $gg0.— L seep egraaa to furnish -a certificate of insurance to Leswre eeilefeelloh sentencing Lassie'% eompllance with Ue.foregoing requirement end name the Lessor as an edditbnel Insured 'o the Lessee's general liability policy upon demand by Lessor. 11 ssee obeli IndemnityLessbragainst ell looser damage to the Equipment while ills out of Lenora poaseeelon. Tile amount of anysuGiioac or damage will be based On No value J. .- Mint above Dema90 to the Equipment, other than a tote) loss, will notabate oraxcusethe making of prescribed renter payments; Lanais agrees touse end care for the Equipment In is direful end prudent manner, . Lessee agrees to pay al operaiingand maintenance expenses while the Equipment Pout 0f the lama's possession, and to make or secure any heeded repairs. Al repeire shall be at Lessee's expense, exoeplb the extent that Lessor Oedema repairs andobtelne.ampsnsatlon for doing-eo from the manufacturer: To the silent permitted by law; neither teas%its assigns,:the whaleeale distribute ormenufacturer.makes.arry repreaentallon or promise -as -to the -quality, performance or freedom from defect of the Equipment, and NO IMPLIED . WARRANTY.OF MERCHANTABILITY OR -FITNESS IS MADE, Neither LessOG,hs assign, the Wholesale Matador or Manufacturerwlll be gable for -any Incidental or consequential - damages which may result from the use, performance or Vellum of the Equipment. Lessee acknowledges -that the Equipment- le of a alta, deslgn.and capacity selamed by Lessee and thatLessee Is eaMeaed (hat the Equipment Is suitable for Lessee's purposes, • Lessee will return the Equipmen to Lessor In as good condition as received, reasonable weer endtaE excepted, by the end .of the rental term, If the Equipment Is not In such goad - condition upon Its return toteasar and Lesser elects to repair It; Lessee wail pay foreuohrepatn el Lesion' legator shop rites, Lessor may, at Lessees option, replace the Equipment with a similar machine at any time during the ran* term, Lessor MI notiy, Lessee V Lessor Imendsto exercise this opllen, and -lessee MI have three (3) businestdays fotiowing such notice In which to exerolsetha purohaNaptbn provided below or return the Equipment b Leesor..Upon return of the Equipment • to•Lessoq'the-rent0Iterm-hereunder shall terminate, end the partieswill enter Wee new odglnsl Rental Agreement covering the replacement machine. Sucunew Rental Aareement shag extend; at a minimum, for the remainder of this Rental Agreement's rental On and. have it-rental/ate no greatetthen the relator rental of the Equipment hereunder, Upon or before No end of the rental term, Lessee may elect to purchase the Equipment for Il e'Total.Present Value" specified on this RentalAgreoment, and may appy to such purchase.prlce • 0 . % ofaltranleli previouslypald.An eleullon topurcheda Will be evdended byexetedoeofa purchase orderferm suppliedby Lessor, THIS RENTALAGREEMENT IS SUBJECT TO ALL OF THE TERMS' AND CONDITIONS SET OUT BELOW, ..•' The equipment rented hereunder Was setup, tnapeoted end, If new, equated according to factory recommendation before demi% Oparagon and servicing have beenexplained to the Leasee. LESSEE • - Allnew equlpmentrentedhereunderwas rebelved with Operabrs '(customer) Mangela, and operation end servieing have been explained le me, • 1115/1 Me Signature: ��''� v� Dale: . - Page 1 of 6 emAy cLi -Afro&LQ--: (brsit t LESSOR (Dealer). Signature: _ �d�� Date: /US ORIGINAL Please return this copy to: City Clerk & Finance Dept. 715 Mulberry St. EQUIPMENT RENTAL AGREEMENT RENTAL IS: rrawnaary,n aww rjRpF_Iyr TRACTOR & EQUIPMENT CO., INC. LESSEE NAME CITY OF WATERLOO STREET ADDRESS PUBLIC WORKS DIVISION 625 GLENWOOD STREET DATE 11/21/2016 GOVT. BID NUMBER DEALER ACCOUNT NUMBER 177943 CITY STATE ZIP WATERLOO IA 50703-4063 LESSOR NAME & ADDRESS Murphy Tractor & Equipment Co., Inc. 3469 W. AIRLINE HWY. WATERLOO IA 50703 3192357085 TELEPHONE 319-291-4445 NAME OF CONTACT MARK PURCHASE ORDER NO M. RICE PURCHASER TYPE: MARKET USE: 5 - City/TownMillage , 98 EQUIPMENT WILL (County) (City) (State) BE USEDAT BLACK HAWK WATERLOO IA COUNTY CODE 1A013 CONTRACT NO 115223 Rentals are Payable In Advance of Use of Equipment RENTAL TERM Begin Date: 11/21/2016 Endr Date: 12/20/2016 RENTAL IS: Per Hour ❑ Day ❑ Week Month ❑ /1 MINIMUM RENTAL GUARANTEED BY LESSEE ADDITIONAL CHARGES (Specify) $0.00 $6,300.00 I L $0.00 Rental Unit No Make Model DESCRIPTION OF RENTAL EQUIPMENT Eq ID PIN No Hour Meter Reading Present Value 145595 150668 JOHN DEERE 770G MISC 770GP 145595 150668 1 DW770GXVGF675573 6 0 Total Present Value $422393.99 $20375.55 $442,769.54 Lessor hereby leases to Lessee the equipment identified above ("Equipment") for the term and with the rental payments set out above. Rental payments shall be made to Lessor at the address shown above, subject to the provisions of paragraph 4 on the reverse side hereof. The Equipment will be transported to and from Lessor's place of business during the rental term at Lessee's expense. Lessee also agrees to pay any additional charges noted above upon or before receiving the Equipment from the Lessor. It Is contemplated that the Equipment wit be operated for not more than: NO. OF HOURS IN ANY ONE DAY NO. OF HOURS IN ANY ONE WEEK NO. OF HOURS IN ANY ONE MONTH s 40 L 176 Lessee agrees to pay additional rental prorated at the applicable daily, weekly or monthly rate for each hour the Equipment is used In excess of such time. The additional rent for excess hours of use will be paid at the time the Equipment is returned or, if the Equipment is leased for more than thirty days, on the first day of he month following such use, If an hour meter Is furnished, (1) Lessee agrees to keep it connected to the Equipment and in good working condition at all times, and (2) it will be used as the conclusive measure of the number of hours of operation. If Lessee fails to return the Equipment by the end of the rental term, Lessee wit pay additional rental, prorated at one and one-half times the normal rental, for each day that the Equipment remains unrelumed. Lessee assumes all risks and liability for and agrees to hold Lessor and its assign harmless from all personal injuries and death, property damage, suits, claims (including third party claims), losses, expenses, costs, and attorney fees, arising from or in connection with the Lessee's use, possession, entrustment to others, or transportation of the Equipment. Lessee, at Lessee's own expense, will carry general liability insurance with limits of liability not less than $1,000,000 per occurrence and $1,000,000 aggregate, unless greater liability limits are specified below. PER OCCURRENCE LIMIT PER AGGREGATE LIMIT 1 $0.00 1 1 $0.00 I Lessee agrees to furnish a certificate of insurance to Lessor's satisfaction evidencing Lessee's compliance with the foregoing requirement and name the Lessor as an additional insured on the Lessee's general liability policy upon demand by Lessor. Lessee shall indemnify Lessor against all loss or damage to the Equipment while it is out of Lessor's possession. The amount of any such loss or damage will be based on the value shown above. Damage to the Equipment, other than a total loss, will not abate or excuse the making of prescribed rental payments. Lessee agrees to use and care for the Equipment in a careful and prudent manner. Lessee agrees to pay all operating and maintenance expenses while the Equipment is out of the Lessor's possession, and to make or secure any needed repairs. All repairs 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 law, neither Lessor, its assigns, the wholesale distributor or manufacturer makes any representation or promise as to the quality, performance or freedom from defect of the Equipment, and NO IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS IS MADE. Neither Lessor, its assigns, the wholesale distributor or manufacturer will be liable for any incidental or consequential damages which may result from the use, performance or failure of the Equipment. Lessee acknowledges that the Equipment is of a size, design and capacity selected by Lessee and that Lessee is satisfied that the Equipment is suitable for Lessee's purposes, Lessee will return the Equipment to Lessor in as good condition as received, reasonable wear and tear excepted, by the end of the rental term. If the Equipment is not in such good condition upon Its return to Lessor and Lessor elects to repair it, Lessee will pay for such repairs at Lessor's regular shop rates. Lessor may, at Lessor's option, replace the Equipment with a similar machine at any time during the rental term. Lessor will notify Lessee if Lessor intends to exercise this option, and Lessee will have three (3) business days following such notice in which to exercise the purchase option provided below or return the Equipment to Lessor. Upon retum of the Equipment to Lessor, the rental term hereunder shall terminate, and the 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 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 apply to such purchase price 0 % of all rentals previously paid. An election to purchase will be evidenced by execution of a purchase order form supplied by Lessor. THIS RENTAL AGREEMENT IS SUBJECT TO ALL OF THE TERMS AND CONDITIONS SET OUT BELOW. LESSEE All new equipment rented hereunder was received with Operator's (Customer) - Manuals, and operation and servicing have been explained to me, Signature: � ' Y �V r' Date: ;--C 5 (( le Page 1 of 6 0‘,..11( A _P r )Q ; r br3/1 LESSOR The equipment rented hereunder was set up, inspected and, if new, (Dealer) - adjusted according to factory recommendations before delivery. Operation and servicing have been explained to the Lessee. Signature: Date: ORIGINAL ADDENDUM TO EQUIPMENT RENTAL AGREEMENT A. CRAWLER DOZERS. In addition to the maintenance, repair end preventative maintenance provisions of paragraph 3 of the Rental Agreement, the Lessee is responsible for the following, including the expenses of any maintenance or repairs related thereto: 1) Monitoring of undercarriage wear to ensure That the pin and busing groups are turned at the proper interval. Failure to monitor the war of the pin and busing groups can result In premature destruction of these components and the Lessee Is responsible for the additional expense of replacing undercaniage pin and bushing groups that could have otherwise been turned. Lessor is to be notified In a timely manner, via facsimile or e-mail to the branch where the equipment was leased and via telephone call to the sales representative who handled the transaction, prior to the measure wear of the pin and bushing groups reaching 70%, so that repairs can be scheduled. Continued use of the machine beyond 80% wear of the pin and busing groups Is prohibited. 2) Premature destruction of undercarriage components resulting from improper operation of the machine may occur through excessive use of reverse, Excessive use of reverse shall be defined as operation of the machine in reverse In gears or speeds which exceed the forward speed or gear used In any given application, and use of reverse equals or exceeds the forward distance the machine travels during normal operations. All 'J' series and later model crawler dozers are equipped with monitoring devices which record forward and reverse travel distances and speeds. 3) Premature destruction of undercarriage components resulting from the operation of the machine in highly abrasive conditions, including but not limited to beach restorations or quarry conditions. B. ARTICULATED DUMP TRUCKS. In addition to the maintenance, repair and preventative maintenance provisions of paragraph 3 of the Rental Agreement, the Lessee is responsible for the following, Including the expenses of any maintenance or repairs related thereto: 1) Monitoring of brake war to ensure that brake pads are not wom through, resulting in contact of the caliper piston with the brake disc. Damage occurring from contact of any caliper piston with a brake disc will be the responsibility of the Lessee. 2) All John Deere articulated dump trucks are equipped with speed retarding systems to minimize brake use and wear. Itis the Lessee's responsibility to ensure that these systems are properly used and kept in good working condition. Failure to properly sue or maintain speed retarding systems can result In accelerated brake wear and damage, for which the Lessee is responsible. Please refer to the operator's manual(s) for details. 3) Normal brake wear is defined as the need for replacement of the brake pads at not less than 1,400 hours of operation to prevent damage to the brake system. In the event that brake pads are prematurely wom, the Lessee will be responsible for the prorated costs of brake pad replacements, Including materials and labor, based on the hours the brake pads had been on the machine at the time of rental, and the hours at which the brake pads required replacement. Lessee is responsible for monitoring brake pad wear and timely notification to the Lessor of the need for brake pad replacement. C. RECYCLERS/STABILIZERS. In addition to the maintenance, repair and preventative maintenance provisions of paragraph 3 of the Rental Agreement, the Lessee is responsible for the following, Including the expanses of any maintenance or repairs related thereto:. 1) A Recycler can only be used for soil missing or asphalt reclamation. 2) A Stabilizer is for mixing or blending soil and cannot be used for asphalt reclamation or concrete recycling or reclamation. 3) Rotor assembly must be checked a minimum of twice daily, for signs of wom or damaged teeth or teeth holders. Lessee is responsible for scheduling of replacement of teeth and teeth holders, which replacement shall be the sole cost of the Lessee (including the cost of any repairs/replacement of the rotor housing. 4) Recyclers and Stabilizers will be shipped with either new or used teeth. The degree of wear of the teeth shall be noted on the Equipment RentalAgreement Upon return of the Equipment, the teeth will be examined and the Lessee will be responsible for the cost of parts and labor to replace a complete set of teeth, Including any holders, when the degree of wear exceeds the degree of wear when the Equipment was delivered. 5) The Equipment shall be inspected upon return for any damage or wear beyond what Lessor (In it sole discretion) determines to be considered normal war or damage. The Lessee shall be notified of any damage or wear, which Lessor believes to be beyond nonnel and will be billed for the parts and labor related to the repair. D. EXCAVATORS. In addition to the maintenance, repair and preventative maintenance provisions of paragraph 3 of the Rental Agreement, the Lessee is responsible for the following, including the expenses of any maintenance or repairs related thereto:. 1) Proper lubrication of all grease points will typically require eight (8) Inspections and Lubrications during an eight (8) hour shift. 2) If the Equipment has a centralized lubrication system the Lessee Is responsible for keeping the grease reservoir full, which requires multiple Inspections during and eight (8) hour shift. 3) If a grease line or fitting is kinked, plugged, broken, or otherwise not in working order, it Is the sole responsibility of the Lessee to correct the situation before continuing to operate the Equipment. 4) Failure of an automatic grease system does not release the Lessee of responsibility for damages caused by excessive wear to the Equipment. Lessor recommends that the Equipment not be used while repairs are pending to the automatic grease system. Upon timely written notice to Lessor That the automatic grease system is not operating properly, Lessor may credit the Lessee for downtime and restart the rental charges when the repairs are completed, 5) Upon return of the machine a complete inspection will be performed and the Lessee will be provided a copy of the written inspection report. Any damages determined by Lessor (In its sole discretion) to be beyond the normal wear and tear, including wear to the bucket, teeth, pins, bushings, or need for an alignment boring, shall be the responsibility of the Lessee. Lessor shall provide the Lessee a copy of the written estimate for the repairs, prior to commencing the repairs and Lessor shall be entitled to bill the Lessee's account for the amount of said repairs. 8) Lessee shall be responsible for any all cost related to excessive wear to the pins or bushings in the bucket arm or boom connection points. Excessive wear shall be defined as more man 10% wear on the pins and bushings per every 300 hours of use. For example a machine that was rented and returned with 900 hours of use is expected to have no more Than 30% wear on the pins and bushing in the bucket, arm or boom connection points from the time the machine was rented. It is the Lessee's responsibility to lubricate all pins and busing assemblies as prescribed by the manufacturer(sy operator manual(s). the Lessee may need to increase the lubrication service intervals as necessary to accommodate specific heavy sue applications such as excavating underwater, extremely dense or abrasive materials. Repairs resulting from excessive wear due to lack of adequate lubrication can Include align boring and pin replacements with repair cost shall be the responsibility of the Lessee. E. HURRICANE OR DISASTER CLEAN-UP. Under certain conditions which include prior written approval by Lessor, the Lessee may use the Equipment for hurricane or other disaster (i.e. good, tornado or man-made) clean up. In order to be eligible for use in hurricane or disaster clean up this section must first be Initialed by the Lessee and the authorized representative of the Lessor. The following additional terms and conditions are in addition to all of the terms and conditions listed above, Including the Rental Agreement. 1) The prices and rates related to hurricane or disaster clean up are different than the standard prices and rates and are established by the lessors regional office in advance and as set forth in an 'Emergency-Natural Disaster Price List'. The 'Emergency-Natural Disaster Price List is based upon a single shift of 176 hours per month and attachments are separate charges subject to a specific pacing schedule for each attachment. 2) Under no circumstances will the Equipment be considered a' loaner' or 'demonstration' unit and the Equipment will be considered a rental uniL 3) All Invoices must be paid within ten (10) days of the invoice date or the Lessee shall be deemed to be in default of the Equipment Rental Agreement and the equipment must be immediately returned or Lessor may plck up the Equipment from the Lessee's worksite. 4) Lessee must designate on the front page of the Equipment Rental Agreement the use and location of the Equipment and may not move the Equipment from the designated location without the prior written permission of the Lessor, 5) The Equipment shall not be used in slat or brackish water or In an environment that might cause It to come in contact with salt or brackish water. 6) Lessee Is responsible for repair cost of all damages, regardless of the cause of the damage, including damage to attachments, buckets, forks, rakes, etc. 7) Lessee is responsible for all tire damage and punctures. Less must replace tires with NEW tires of like brand (no mismatched tires) and model. There Is no proration of tire wear. 8) Transportation charges shall be billed to and from the Lessor's yard (roundtrip) and shell include all wait time or travel time around hurricane or disaster damage areas. 9) Lessee is required to carry liability insurance of not less than $1,000,000; to carry casualty insurance equal to the Present Value stated In the Equipment RentalAgreement. Lessee will provide evidence of the required insurance prior to leaving Lessor's equipment yard. The notice of cancellation provisions for all Insurance policies must be no less than thirty (30 days. Murphy Tractor 8 Equipment Co. must be listed as a loss payee on all insurance policies. The obtaining of the required insurance policies does not eliminate any liability or obligation of the Lessee to the Lessor under the terms and conditions of the Equipment. RentalAgreement or this Addendum. Payment to Lessor is not subject to Lessee obtaining payment from its insurance company or any third patty. 10) Damage from vandalism is the responsibility of the Lessee. NO CONDITIONS CONTAINED IN THIS SUBSCTION E MAY BE WAIVED OR MODIFIED IN ANY MANNER, INCLUDING ANY WRITTEN OR ORAL STATEMNTS FROM LESSOR. Lessee Name: Authorized Representative: Date: Page 6 of 6 Please return this copy tot City Clerk& Finance Dept. 71S Mulberry St. Waterloo,lA 50703 EQUIPMENT RENTALAGREEMENT LESSEE NAE CITY OF WATERLOO .. - - : � - �_ . TRACTOR & EQUIPMENT 00,, INC. -- STREETAOOR`a- '- ' - . oI - PUBLIC WORKS g11ASI0N 825 04ENWOOD STREET DATE 1112_ , . GOVT BIDNUMBER CEALERACCOUNT NUMBER 177943 . 01TV STATE — ZIP WATERLOO IA 6070.9y1083 . ` „ LEBSOR:NAM4'&ADDRESS- Mutphy Traeter& Equipment Co., Inc. • 3469W;AIRLINE HW' - WATERLOO a 50703 3193.36.798.5 .. - - .-, - - - TELEPHONE .,; NAME OP CONTACT MARK PURCHASEOROER NO M. RIME .. - - PURQHABERTYPE: 6-ClyrfowW1IIage MARKET MI 98 .. EQUIPMENT WILL (County):' SEUSED AT- - BLACK HAWK (Chea' (Slate) WATERLOO - w '' OPUNTYCQCE CONTRACT NO 116227'. - . ,... :Ren RENTALTERM .Begin Mite:. 11/21/2018 E.4flater' _ 12/2012018 'RENTAL IS: ( $8300.00 1 Hour Dey WaeWasteM® Per ❑ ©UARANTE RENTAL, I.'$700',_f ADDITIONAL CHARGES (Specify) - . 1 $0.00 . Rental Unit No- Make Modal 138348 JOHN DEERE 7720 DESCRIPTION.OF. RENTAL EQUIPMENT Eq ID PIN No Hour Meter Reading Pressnt Value 640493 . . 10W773GPV3E640499 6986 Total PresentVatue $0,00 60.00 -.. Lessor hereby leans to Lessee theequipmentIdentified above ("Equipment") for the Isms end With the rental payments set out above, Rental payments shalt be made to Lessor at the address shown above; eub)ect to the provlclons of paragraph 4 on the reverse aide hereof, The Equipment will be transported to and horn Lessor's place of business during the rental term at Lessee's expense; Leasee also agrees to pay any additional charges noted above upon of before reserving the Equipment from Ws Lessor, Itis contemplated that the Equipment wIl be operated for not more then: NO, OF HOURS IN ANY ONE WEEK NQ OPNOURS INANY ONE MONTH 170 ND. OF HOURS IN ANY ONE DAY Lessee agrees 16 pay additionni rental prorated at the applIcabladaily, weekly or monthly riU for with {fourths Equipment used Wet d In n scanof he oMHoof suchime. such dueeoIf al rent meterIs hours of use will be paid al the time the Equipment Is returned or, if We Equipment is leased far moor than thirty days, on I Welled, (5) Lessee agrees m keep it connected to the Equipment and to good wedding condition at ell Ries, and -(2) h will be used es the conclustve measure of the number of hours 0 operation. •- - - '. I Lesseetmle to return the Equipment by the end of the rent& term, Lessee WM pay additional wristproratedat one end one•half tiros the normal rental, for each day that the Equipment remains unretUrned.. Lessee assumes all risks and Ilabilly for and agrees to hold Lessor and Ile assign harmless from 811 personal Injuries and death, pro edy damage, suite, &aims (Including third party. claims), losees,expenses, caste, and attorney tees, arising from or In connection with We Lessee's else, possession, entrustment to othors, or ueneparle6on of the Equipment Lessee; at Lessee's own expense, will carry general liability Insurance with limits of liability not less than 51,000,000 per occurrence and 51,00 000 aggregate, unless greater liobily limits are specified below, . PER AOGREGATE LIMIT 'PER OCCURRENCE LIMIT 90.00 1 I E0.00. .. 1 Lessee agreeeto urnish 8 certificate of Insurance to Lessors satisfaction eviden ing Leasee'a compliance with the foregoing requirement and name the Leiser es en additional Insured on the Lessee's general liability potty upon dentend by Lessor. Leaseeahall Indemnify Lessor against all Was or damage to the Equipment while itis out of Leasoya possession. Tha amount of any such loss or damage will be based on the value shown above. Damage to the Equipment, other then total loss, MO not abets or excuse the making of prescribed renal payments. Lessee"agrees tense and care for the Equipment in a careful antl prudent manner, Lessee egrets topay all operating and maintenance expensess while the Equlpmentls g8( of "ItLale0Os possession, and t0 melee or secure any needed repairs. All repairs shall he at r' • LeenEa expehse, ekeept (0 the e4e0t that Lesser peformi repairs and obtalns compansetlan )ordoing so from the manufacturer. To We extentpenmitted by taw, neither Lessor, Its SeSignie, the wholesale diad outer or msnufaplurer makes any representation or. promise Se It the q6u fly, pedq(menca or freed0m7rom defect of the Equipment and 140 IMPLIED . WARPANTY'OF MERCHANTAOILITY OR FITNESS 18 MADE. Neither Lesser, Its aadam lit OP** dismbblor, or rnenufq&u(er will be gamefor any Incidentalor consequential . damages vfiichimay resuk from the uss; peformanro or foliate of file Equipment Louie kokN,tyt 4$ * intolhwBqulpmen! Wort, !Re, design and cepadty.selected by Lessee and that Lessee is satisfied that the Equipment is sellable for Lessee's purposes, Lessee will return the Equipment to Lessor In ss good condition as receivsd, reasonable wear andtest excepted, by the end of the rental. term. (1 the Equipment Is not In such good• . condition upon Its return to Lessor end Lessor elects to.repelr it, Leasee will pay for such repel& al Lessees regular shop rates.; Leeeo) may, at Lessors option; replace the Equipment with a similar maebrne el any time &Ono the renfel tem., Lesser will nolhy L if laaloi intends to exercise this option, and Lessee will have three. (3) business days following such nolgs in which to ex4rgi Afs** purohast•op (on piovidad$etaw or Muni the _ paten t lo; Lessor. Upon return of the Equipment to testier, the rental term hereunder shall terminate,and. the parties will eater Into a new original Rental-Apraement covering the replaosment machine. Stroh newRentalAgreebant shall extend, at a Minimum, for the remainder of this Rental Agreement's rental tetm and have a rental rate no greaterthan Me rate for rental of the Equipment hereunder, Upon or betake the end of the rental term; 1.01111D0 may elect to purchase the Equipment for the"Total Present Value" specified on this RentalAgmement, and may apply to such . purchase price %of all rentals previousypatd An election to purchase will be evklenced by executioner a perohese order fon supplied by Lessor. . THIS RENTALAGREEMENTIS,SUIS IEOTTO'ALL OF 7WE;TERMSAND CONDJTIQNB,$ET OUT BELOW. LESSEE. Atinewequipment rented hereunder was received with Operator's (Customer) . Manuals, end operation and servicing have bean et plelned tome. • Signature: 11, fir!" Data; t/Iw Page 1 of 6 LESSOR The equipment rented hereunder was set up, Inspected and, Il dew, • (Dealer) - . adjusted according In factory recommendations before delivery. Operation and servicing have been expkihedlo the Lessee. signature Date: l Z-11! Co es tic e _ AeP 'c.Q . 01 444, ORIGINAL Please return this copy to: City Clerk & Finance Dept. 715 Mulberry St. EQUIPMENT RENTAL AGREEMENT Waterloo, IA 50703 IVItiRPI-IV'LESSEE TRACTOR & EQUIPMENT CO., INC. NAME CITY OF WATERLOO STREET ADDRESS PUBLIC WORKS DIVISION 625 GLENWOOD STREET DATE 11!21/2016 GOVT. BID NUMBER DEALER ACCOUNT NUMBER 177943 CITY WATERLOO STATE IA ZIP 50703-4063 LESSOR NAME &ADDRESS Murphy Tractor & Equipment Co., Inc. 3469 W. AIRLINE HWY. WATERLOO IA 50703 3192357085 TELEPHONE 319-291-4445 NAME OF CONTACT MARK PURCHASE ORDER NO M. RICE PURCHASER TYPE: 5 - City/Town/Village MARKET USE: 98 EQUIPMENT WILL BE USEDAT (County) BLACK HAWK (City) (State) WATERLOO IA COUNTY CODE IA013 CONTRACT NO 115227 entals are Payable in Advance of Use of Equipment RENTAL TERM Begin Date: 11/21/2016 End Date: 12/20/2016 RENTAL IS: 1 Hour Per N Day Week Month p MINIMUM RENTAL GUARANTEED BY LESSEE ADDITIONAL CHARGES (Specify) —f L $6,300.00 1 $0.00 1 $0.00 Rental Unit No Make Model DESCRIPTION OF RENTAL EQUIPMENT Eq ID PIN No Hour Meter Reading Present Value 136346 JOHN DEERE 772G 640493 1 D W772GPVB E640493 5965 Total Present Value $0,00 $0.00 Lessor hereby leases to Lessee the equipment identified above ("Equipment") for the term and with the rental payments set out above. Rental payments shall be made to Lessor at the address shown above, subject to the provisions of paragraph 4 on the reverse side hereof. The Equipment will be transported to and from Lessor's place of business during the rental term at Lessee's expense. Lessee also agrees to pay any additional charges noted above upon or before receiving the Equipment from the Lessor. It Is contemplated that the Equipment will be operated for not more than: NO. OF HOURS IN ANY ONE DAY 8 NO, OF HOURS IN ANY ONE WEEK NO. OF HOURS IN ANY ONE MONTH L 40 1 176 Lessee agrees to pay additional rental prorated at the applicable daily, weekly or monthly rate for each hour the Equipment is used in excess of such time, The additional rent for excess hours of use will be paid at the time the Equipment is returned or, if the Equipment is leased for more than thirty days, on the first day of he month following such use. If an hour meter is furnished, (1) Lessee agrees to Keep it connected to the Equipment and in good working condition at all times, and (2) it will be used as the conclusive measure of the number of hours of operation. If Lessee fails to return the Equipment by the end of the rental term, Lessee will pay additional rental, prorated at one and one-half times the normal rental, for each day that the Equipment remains unreturned. Lessee assumes all risks and liability for and agrees to hold Lessor and its assign harmless from all personal injuries and death, property damage, suits, claims (including third party claims), losses, expenses, costs, and attorney fees, arising from or in connection with the Lessee's use, possession, entrustment to others, or transportation of the Equipment. Lessee, at Lessee's own expense, will carry general liability insurance with limits of liability not fess than $1,000,000 per occurrence and $1,000,000 aggregate, unless greater liability limits are specified below. PER OCCURRENCE LIMIT PER AGGREGATE LIMIT I $0.00 1 1 $0.00 I Lessee agrees to furnish a certificate of insurance to Lessor's satisfaction evidencing Lessee's compliance with the foregoing requirement and name the Lessor as an additional insured on the Lessee's general liability policy upon demand by Lessor. Lessee shall indemnify Lessor against all loss or damage to the Equipment while it is out of Lessor's possession. The amount of any such loss or damage will be based on the value shown above. Damage to the Equipment, other than a total loss, will not abate or excuse the making of prescribed rental payments. Lessee agrees to use and care for the Equipment in a careful and prudent manner. Lessee agrees to pay all operating and maintenance expenses while the Equipment Is out of the Lessor's possession, and to make or secure any needed repairs. All repairs 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 law, neither Lessor, its assigns, the wholesale distributor or manufacturer makes any representation or promise as to the quality, performance or freedom from defect of the Equipment, and NO IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS IS MADE. Neither Lessor, its assigns, the wholesale distributor or manufacturer will be liable for any incidental or consequential damages which may result from the use, performance or failure of the Equipment. Lessee acknowledges that the Equipment is of a size, design and capacity selected by Lessee and that Lessee is satisfied that the Equipment is suitable for Lessee's purposes. Lessee will return the Equipment to Lessor in as good condition as received, reasonable wear and tear excepted, by the end of the rental term. If the Equipment is not in such good condition upon its return to Lessor and Lessor elects to repair it, Lessee will pay for such repairs at Lessor's regular shop rates. Lessor may, at Lessor's option, replace the Equipment with a similar machine at any lime during the rental term. Lessor will notify Lessee if Lessor intends to exercise this option, and Lessee will have three (3) business days following such notice in which to exercise the purchase option provided below or return the Equipment to Lessor. Upon return of the Equipment to Lessor, the rental term hereunder shall terminate, and the 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 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 apply to such purchase price I 0 1% of all rentals previously paid. An election to purchase will be evidenced by execution of a purchase order form supplied by Lessor. THIS RENTAL AGREEMENT IS SUBJECT TO ALL OF THE TERMS AND CONDITIONS SET OUT BELOW. LESSEE All new equipment rented hereunder was received with Operator's (Customer) - Manuals, and operation and servicing have been explained to me. Signature:DDate: Z>> // LESSOR The equipment rented hereunder was set up, inspected and, if new, (Dealer) - adjusted according to factory recommendations before delivery. Operation and servicing have been explained to the Lessee. Signature: Date: Page 1 of 6 0_,0 ertQ > 10/ b ORIGINAL RENTAL AGREEMENT 1. General. The above-named Lessor hereby leases to the above named Lessee the equipment listed herein ("Equipment") for the term and with the rental payments set out above. Rental payments shall be made to Lessor at the address shown above or to such other person and address as Lessor may direct from time to time. Lessee will pay the cost of transporting the Equipment from Lessor's place of business and returning it thereto. Such transportation shall take place during the term hereof. Lessee agrees to remit to Lessor the rental payments and all other amounts when due and payable, even if Lessor does not send Lessee a bill or an invoice. Lessee agrees that any amount due under this Rental Agreement, may, if specified above, at the option of the Lessor, be submitted by Lessor as a charge authorized by Lessee to the PowerPlan or Farm Plan account of Lessee, and Lessee agrees that the terms of that account shall thereafter apply to any accepted charges. For any payment which is not received by its due date, Lessee agrees to pay a late charge equal to 5% of the past due amount (not to exceed the maximum amount permitted by law)as reasonable collection costs, plus interest from the due date until paid at a rate of 1.5% per month, but in no event more than the maximum lawful rate. Restrictive endorsements on checks Lessee sends to Lessor will not change or reduce Lessee's obligations to Lessor. If a payment is returned to Lessor by the bank for any reason, Lessee agrees to pay Lessor a fee of $50.00, or the maximum amount permitted by law, whichever is less. Rental payments and other payments may be applied, at Lessor's discretion, to any obligation Lessee may have to Lessor or its assignee or any affiliate of Lessor or its assignee. If the total of all payments made during the rental term exceeds the total of all amounts due under the Rental Agreement by less than $50, Lessor may retain such excess. Rental terms and conditions from all invoices, monthly statements, or other agreements between Lessor and Lessee are hereby incorporated Into this Rental Agreement. LESSEE'S PAYMENT OBLIGATIONS ARE ABSOLUTE AND UNCONDITIONAL, AND ARE NOT SUBJECT TO CANCELLATION, REDUCTION OR SETOFF FOR ANY REASON WHATSOEVER. 2. Security Deposit. Any Security Deposit will be held by Lessor in a non-interest bearing account, commingled with other funds. Lessor may apply the Security Deposit to any amounts due under the Rental Agreement and, if Lessor does so, Lessee agrees to promptly remit to Lessor the amount necessary to restore the Security Deposit to the original amount. The Security Deposit will be returned to Lessee within thirty days of termination of the Rental Agreement and final inspection by Lessor, provided Lessee is not in default. 3. Equipment Use. LESSOR HAS NOT MADE, AND DOES NOT MAKE, ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE EQUIPMENTS MERCHANTABILITY, FITNESS FORA PARTICULAR PURPOSE, SUITABILITY, OR OTHERWISE. Lessor is the owner of the Equipment and the Lessee has only the right to use the Equipment under the terms of this Rental Agreement. You agree to USE THE EQUIPMENT ONLY FOR, CONSTRUCTION, AGRICULTURAL, BUSINESS OR COMMERCIAL PURPOSES AND NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES. It is contemplated that the Equipment will be operated for not more than the Maximum Hours specified above, and Lessee agrees to pay additional rental prorated at the applicable daily, weekly or monthly rate for each hour the Equipment is used in excess of the Maximum Hours. The additional rent for excess hours shall be paid at the time the Equipment is returned or, if the Equipment is rented for more than thirty days, on the first day of the month following such use. If there is an hour meter furnished, Lessee agrees to keep it connected to the Equipment and in good working condition at all times and it is to be used as the conclusive basis of the number of hours or operation. Lessee agrees to affix and maintain, in a prominent place on the Equipment, any labels, plates or other markings Lessor may provide. Lessee agrees to pay $1,500.00 if the hour meter is damaged or rendered inoperative during the term of this Rental Agreement. Lessee shall indemnify Lessor against alt loss or damage to the Equipment while it is out of Lessor's possession. Damage to the Equipment, shall not abate or excuse the making of prescribed rental payments. Page 2 of 6 Lessee agrees to use and care for the Equipment in a careful and prudent manner, to pay all operation and maintenance expenses while the Equipment is out of the possession of Lessor, and to make, at Lessee's sole expense, any and all repairs. Lessee agrees (a) to not move the Equipment to another county or state without notifying Lessor within 30 days; (b) to operate and maintain the Equipment in accordance with all (1) laws, ordinances and regulations, (2) manuals and other instructions issued by the manufacturer(s) and supplier(s), and (3) insurance policy terms and requirements; (c) to perform (at Lessee's expense) all maintenance and repairs necessary to keep the Equipment In as good a condition as when delivered to Lessee, reasonable wear excepted; (d) to not install any accessory or device on the Equipment, unless it can be removed without damaging the Equipment or in any way affecting the value, useful life, or originally intended use of the Equipment; (e) to not represent the Equipment as owned by Lessee or to pledge the Equipment as collateral to any lender or other party; (0 to load, unload, transport, and secure for transport, in accordance with all laws; (g) to acquire or purchase all proper permits in compliance with all federal and state traffic law. Upon any expiration or termination of this Rental Agreement, all Equipment shall be returned by Lessee at Lessee's sole expense and In satisfactory condition, along with all use, maintenance and repair records. Equipment is in satisfactory condition if it is in as good a condition as when the Equipment was delivered it to Lessee, reasonable wear excepted, and conforms to any maintenance standards incorporated into the Rental Agreement, If, upon its return to Lessor, the Equipment is not in such good condition, Lessor may repair it and Lessee will pay the cost of any such repairs at Lessor's regular shop rates. If Lessee fails to return the Equipment promptly upon any expiration or termination of this Rental Agreement, additional rent shall be payable by Lessee for each day the Lessee remains in possession of the Equipment, in an amount prorated at one and one-half times the normal rental payment amount. Lessee agrees to keep the Equipment free and clear of liens and encumbrances, except those in Lessor's favor, and promptly notify Lessor If a lien or encumbrance is placed or threatened against the Equipment. The Equipment may be equipped with telematics hardware and software ("Telematics") that transmit data to Lessor, John Deere, or other John Deere dealers. Lessee agrees that Lessor, John Deere and other John Deere dealers (their affiliates, successors and assigns), without further notice to Lessee have the right to: (i) access, use, collect and disclose any data generated by, collected by, or stored in, the Equipment or any hardware or devices interfacing with the Equipment ("Machine Data"); (II) access Machine Data directly through data reporting devices integrated within, or attached to, the Equipment, including Telematics ("Data Reporting Systems"); and (iii) update the Data Reporting Systems software from time to time. Machine Data may be transferred out of the country where it is generated, including to the U.S.A. In the event that the Machine Data includes Lessee's personal information, Lessee hereby consents to the collection, use and disclosure of such personal information, to permit Lessor, John Deere and other John Deere dealers to access and use the Machine Data as set forth herein. Lessee warrants that it has obtained any necessary consent from its employees or any other third parties, including with respect to the transfer of Machine Data to other jurisdictions, to comply with any applicable privacy laws or contractual agreements with such employees or third parties and to permit Lessor, John Deere and other John Deere dealers to access and use the Machine Data as set forth herein. Lessee shall not use the Data Reporting Systems to track the location of any person unless Lessee has first obtained any necessary approvals from such person to permit Lessee, Lessor, John Deere and other John Deere dealers to track such location. Lessee shall not remove, modify or disable any Data Reporting Systems without Lessor's prior written consent. Customer's Initials Date RENTAL AGREEMENT Use this page If printing agreement prior to completing. This information is used when completing rental loads In the John Deere system. For Office Use Only PURCHASER (check one) Non Governemental 0 S Small Fleet (<10) MARKET USE (check one Agricultural ❑ 13 LivestocWFeed/Dairy 0 15 Row Crop/Small Grain 18 Specialty Crop g 17 General Utility Building ) Forestry ❑ 21 Harvesting 0 22 Reforestation/Site ❑ 24 Log Loading/Handling ❑25 Wood Handling Yards 28 limber D Felling/Bunching 27 Stroke Delimbing Prep 0 23 Roads/Meint 0 84 Landfill/Refuse 0 9 Nursery/Landscape Materials Handling [ 56 Port/Stevador C 75AsphaltlConcrete Prod Mining / Quarrying 030 Mining Services 31 Metallic Mining 34 Coat Mining ❑ 36 Stone Aggregate Road Building ❑ 45 Bridge Construction 0 49 Hwy/Slreet Const Underground 0 50 Energy Related Pipe 0 82 Gas/Water/Electric • M Medium Fleet (10-24) • L Large Fleet (25-75) V Very Large 43 Sewer/Water Sys (75+) ❑ Governmental 2 Federal Govt. 3 State Govt. 4 County Govt 6 Local Govt. ❑ 81 Telephone Co. Others 0 36 011 Field ❑ 71 Airports • 41 Residential ❑ 42 Non-resldential ❑ 47 Demolition Earthmoving 0 12 Land Improvement ■ 51 Paving-Drives,Lols,etc • 74 Rail Roads U 6 Armed Forces 61 Manufacturing/Intl ❑ 87 Scrap Handing ❑ 79 Cemeteries ❑ ■❑ 7 Nasional Account 80 Recycling ®e7 Parks/Cemeteries ❑ 90 JD Dealer Owned 28 Skidding/Forwarding ■ Renlal Fleet • 39 Residential ® 76 Sand/Gravel/Stone 92 Highway Moving ri 40 Non-residential 78 Environment Cleanup El 78 Plant /Glass ❑ 85 77 ChemiBacIdcal 86 Steel Mill Courses• 94 Golf ❑ 95 Institutions ❑ 96 Independent Rental Co• Page 5 of 6 Customer's Initials _ Date Mese return this copy to: City Clerk & Finance Dept, • 715 Mulberry St. Waterloo, IA 50703 EQUIPMENT RENTAL ACREEMENT• TRACTOR �[ �• • A EQUIPMENT 00„ INC. LESSEE -NAME awyoFw,TaRLoo S.TREEYAODRES6 - r PUBLIC WORKS DIVISION 421 GLENWOOD STREET WE • 1141120111 • OOVit Sib NUMBER ' 'OEALERA000UNT NUMBER 177943 CITY E7ATE — ZIP• WATERLOO IA 60705-0068 LE88111 NAME 6ADDRESS Muiphy Tractor& Egeklininteo„ Inc. M69 VV, AIRLINE NWT. WATERLOO IA 50703 - 3192357086 TELEPHONE . 319.291.4446 NAME OF CONTACT • MARK PURCHASE ORDERNO M. -RICE PURQHABERTYPil 6•Clty/TowtMiMge MARKET WEI 96 EQUIPMENT WILL (Cooly) (City) • (State) BE USED AT SLAQKHAWK WATERLOO IA COUNTY cool --- le013 CONTRACT NO 116222 Pulps Apo P+yabtesIi:Aliv ntttbfVP!ofEgtlpment RENTAL TERM. Begin Data; 1112112016 EndDaer 12/0/2018 rIRENTAL IS: Hour Day Week Meath $8,800;0o J Pet 0 0 0 Il MW MUM RPTAL GUARANTEEDBYLESSEE ADDITIONAL CHARGES (Speer I 30.00 DESCRIPTI6N OF RENTAL 1111LIIPMENT . Rental Unit No Mak. Modal . Eq ID PIN Ne Hour Meter Reeding Pearl Value 150298- JOHN DEERE 7720 160298 10W7720XLOF37S055 , 4 150320 MISC 772G 160320 0 Total Pent Value 1403936.71 520376.56 6614,312.21 'Laser hairy' isaee) to Lime* the qulphhentldenilned above ("Equipment the kr end VAIN gee fend:paymepts Set out above, Rental paymsne shell be merle Lessor at the aderesa seawater', autljnd toile provisions of paragraph 4 on the nvasealds helot The EgWpmmballta Innspodad to and from Lessor's pica of business during the renal term at Lessee's apse; Lessee also eras to payany edditoul charges noted above diener belle reaMng the Equipment from the Lasa, .11 to conteniplatedthsi Ui Equipment Will be operated for natmote than: _ NO. OF HOURS INANYONE DAY NO. OP HOURS IN ANY ONEWEEK ND, OFHQUR6 INANY ONE'MONTH 8 J I 40 J Lo,... agreasb pay addltenai Centel prorated at the appllabledally, weakly or Ilii EqulpmentIs vied In:exdus of such time. The additional rant fbrexcess hours often will be paid elks time the,Equtprnent is retuned er, Ifth.Egmpment Itleaad(Orrue than thirty dream the &Miley of -the month following sett use, San hour meter Is f mired, (1) Lessee agrees to keep Itconnoted to the Equipment and In 9eod working donditon Or Ores, and (2)11 will breed as the conclusive measure of the number of hours o opiraUon, if Lessee (ahs to retum:the Equipment by the and of the rental term, Lasses vAs pay additional renal, prorated et ae and bre-half Uma the normal rental, for each day met the EquIpmenitemeint unit umed, Lessee assume. eirrisks and Itabltydr. .for end egress le hold tenandIN assign harmless rem Sltpaltonai Prete and death, properly damage, suits, Mims reeding thkd plry claims), loser, earnsas, coils, and attorney fns, weir !.from or in'canneeIi i tlth gee Lowey Wei preesslon, enlrustmegt to others, or transportation ei da Equipment, Lena at LeasAe'soan expense, will eery goner!' liability insurance with limits otIId9Uy not lass ihen 31,066680 pit riccurrence an0.31,000,000 aggreQate, tries greater I4btiily Ilnthe ere specified below, PER OCCURRENCE LWIT (. $0.00 - I PER AOOREOATE LIMIT • 1 So.00 Lessee egress -to Nmish-foerUOeate of Ineursnee to Lenore sa9stecon evidencing Lauea'a ;amperes with the foregoing requirement andname the Lessor as an eddWonel insured on theLeseeo's deer"! liability polity open demand by Lesser. Lessor snail Indemnly Lesotstaimt y' lost or damege to the EquipmentWhile it is outer Lessor* pauaeslan, The amount:ot any such loss or damtgs win be baud on the value, ahown above. Damage to the Equlpnisnt.other than a total loss, will not abate or excuse Sha making of prescribed rental payments. Laces agrees to use and care for the Equipment In • a careful and prudent manner, - . . lance agrees to pay ail operating pndkmiintenencs expenses while the Equipments out ef the kruftpouaal6n, alio b meet or erns any needed epee, Al repairs shall best . Leases's beanie, except to the atdsrit OM -Lessor perform. repairs and rises ProrationW 0011•0 Nom the manufw0rrer, To be extent permitted by low, neither Lusor, Ib •at,fgna. the viholn ala distributeror-manufaoltrer makes -any representation or promlat oaks the60161-perloimane or freedom nom Meet of the Equipment, and NO IMPLIED WARRANT/ OF MERCHANTARIUTY OR PITNE83 18 MADE, Neither Lusa, Ye assign, Ola Serene dletdbutor or menufaoiurer will be Ilabafor any Inddtntal or oonaequenWl dams Which may molt from the u.a,.performance or failure of the EqubmenL.Leesee-ukndvdadele tat the Equipment is of a size, dadgn and opacity saber by Lata and Ihal'Leasoe Isar red that the Equipment Is suitable for Lessee! purposes, Leger wilt return the Equipment to Loess In as gond condition es recorid, reasonable411f endear seeped, by the and -of the renal Wm. S the Equipment is not In such good condillbn upon -is miumio Lessor and Luse steels to repair IL Leta will pay for such teas etbiert ruler 'shop fates. - . Lessor cosy;ettiuertoptbn, raphes the Equipment with a ober machine at any time Ohl pfilentaflarm: Lasa VM notifyLUSO 11 Lessor Intends bowel* We queen and Lieaea' will heater (3) business deysgolowingauch nota to whin to exercise the worm see11 rerided-belowortatum Me Equipment to Lessor, Upon reran of le Ereternl to Lessor,:Bhp. rental tam hereunder .het terminate,- and the padres wed anter Into ■ naw edeiniI RAW Agreement cevadng the replacement madune, Such now Renter Agreement shat extend; ata minimum, for the remainder of this Rental Agrwents noel term antl have auntd rota no greater than the rate for renal of era Equipment hereunder. • ',Uppn ar bofore the and of the rental term; twee may elect to purchase the Eguipmentfer the %sal rent Value" spedned on this Rent.lAgreemant and may apply to such pea chase price. 0 % of all rentals previously paid, An election to porchesvAli ba reined byexecuibn ora purchase order fort suppled by Lessor, 7HI8 $,AINTAL AGREEMENT IS_SIISJ.ECx TO ALL oF,. THJE;JE(tMMR AND.CUNDITIONS SET OUT.BELOW. . LESSEE. AN nay equipment ranted hereunder was reread with Operator'' (Customer).. Minuets, end operation anndddssservicingg have bean explained in ma, Signature: („C- .Q_i s �i " esDate: } Z/ C. V. 17/ S. Page 1 0 8 � ILhL�Q. 450;5'"~-2 ' 10/3/4 r. tIlibR ThequWitW'renled hereunder vas sat up, inspected and, Onew (Dialer) . aquned *verde* to tansy ndommendations ben delivery. Operation and servieing have been explained to the Lesser. SilgnaWw,.saf ....4t , �P Date:. t ORIGINAL Please return this copy to: City Clerk & Finance Dept. 715 Mulberry St. Waterloo, IA 50703 EQUIPMENT RENTAL AGREEMENT riIiRPF-rv" TRACTOR & EQUIPMENT CO., INC. LESSEE NAME CITY OF WATERLOO STREET ADDRESS PUBLIC WORKS DIVISION 625 GLENW00D STREET DATE 11/21/2016 GOVT. BID NUMBER DEALER ACCOUNT NUMBER 177943 CITY WATERLOO STATE IA ZIP 50703-4063 LESSOR NAME &ADDRESS Murphy Tractor & Equipment Co., Inc. 3469 W. AIRLINE HWY. WATERLOO IA 50703 3192357085 TELEPHONE 319-291-4445 NAME OF CONTACT MARK PURCHASE ORDER NO M. RICE PURCHASER TYPE: 5 - City/TownNillage MARKET USE: 98 EQUIPMENT WILL BE USED AT (County) BLACK HAWK (City) (State) WATERLOO IA COUNTY CODE IA013 CONTRACT NO 115222 Rentals are Payable in Advance of Use of Equipment RENTAL TERM Begin Date: 11/21/20161 End Date: 12/20/2016 RENTAL IS: Per Hour ❑ Day ❑ Week Month ❑ .1$0.00 MINIMUM RENTAL GUARANTEED BY LESSEE ADDITIONAL CHARGES (Specify) $6,300.00 50.00 Rental Unit No Make Model DESCRIPTION OF RENTAL EQUIPMENT Eq ID PIN No Hour Meter Reading Present Value 150298 150320 JOHN DEERE 772G MISC 772G 150298 150320 1 DW772GXLGF678083 4 0 Total Present Value $493936.71 $20375.55 $514,312.26 Lessor hereby leases to Lessee the equipment identified above ("Equipment") for the term and with the rental payments set out above. Rental payments shall be made to Lessor at the address shown above, subject to the provisions of paragraph 4 on the reverse side hereof. The Equipment will be transported to and from Lessor's place of business during the rental term at Lessee's expense. Lessee also agrees to pay any additional charges noted above upon or before receiving the Equipment from the Lessor. It is contemplated that the Equipment will be operated for not more than: NO. OF HOURS IN ANY ONE DAY 8 NO. OF HOURS IN ANY ONE WEEK NO. OF HOURS IN ANY ONE MONTH 40 1 1 176 Lessee agrees to pay additional rental prorated at the applicable daily, weekly or monthly rate for each hour the Equipment is used In excess of such time. The additional rent for excess hours of use will be paid at the time the Equipment Is returned or, if the Equipment Is leased for more than thirty days, on the first day of the month following such use. If an hour meter is furnished, (1) Lessee agrees to keep It connected to the Equipment and In good working condition at all times, and (2) it will be used as the conclusive measure of the number of hours of operation. If Lessee fails to return the Equipment by the end of the rental term, Lessee will pay additional rental, prorated at one and one•half limes the normal rental, for each day that the Equipment remains unretumed Lessee assumes all risks and liability for and agrees to hold Lessor and its assign harmless from all personal injuries and death, property damage, sults, claims (including third party claims), losses, expenses, costs, and attorney fees, arising from or in connection with the Lessee's use, possession, entrustment to others, or transportation of the Equipment. Lessee, at Lessee's own expense, will carry general liability insurance with limits of liability not less than $1,000,000 per occurrence and $1,000,000 aggregate, unless greater liability limits are specified below. PER OCCURRENCE LIMIT 1 $0.00 PER AGGREGATE LIMIT $0.00 Lessee agrees to furnish a certificate of Insurance to Lessor's satisfaction evidencing Lessee's compliance with the foregoing requirement and name the Lessor as an additional Insured on the Lessee's general liability policy upon demand by Lessor. Lessee shall indemnify Lessor against all loss or damage to the Equipment while it is out of Lessor's possession. The amount of any such loss or damage will be based on the value shown above. Damage to the Equipment, other than a total loss, will not abate or excuse the making of prescribed rental payments. Lessee agrees to use and care for the Equipment in a careful and prudent manner Lessee agrees to pay all operating and maintenance expenses while the Equipment Is out of the Lessor's possession, and to make or secure any needed repairs. All repairs 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 law, neither Lessor, its assigns, the wholesale distributor or manufacturer makes any representation or promise as to the quality, performance or freedom from defect of the Equipment, and NO IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS IS MADE. Neither Lessor, Its assigns, the wholesale distributor or manufacturer will be liable for any Incidental or consequential damages which may result from the use, performance or failure of the Equipment. Lessee acknowledges that the Equipment is of a size, design and capacity selected by Lessee and that Lessee is satisfied that the Equipment is suitable for Lessee's purposes. Lessee will return the Equipment to Lessor in as good condition as received, reasonable wear and tear excepted, by the end of the rental term. If the Equipment is not in such good condition upon its return to Lessor and Lessor elects to repair it, Lessee will pay for such repairs at Lessor's regular shop rates. Lessor may, at Lessor's option, replace the Equipment with a similar machine at any time during the rental term. Lessor will notify Lessee If Lessor intends to exercise this option, and Lessee will have three (3) business days following such notice in which to exercise the purchase option provided below or return the Equipment to Lessor. Upon return of the Equipment to Lessor, the rental term hereunder shall terminate, and the 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 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 apply to such purchase price 0 % of all rentals previously paid. An election to purchase will be evidenced by execution of a purchase order form supplied by Lessor. THIS RENTAL AGREEMENT IS SUBJECT TO ALL OF THE TERMS AND CONDITIONS SET OUT BELOW. LESSEE All new equipment rented hereunder was received with Operator's (Customer) - Manuals, and operation and servicing have been explained to me. Ir 1 Signature: ( V,(--L-Li- Date: /-4�` Page 1 of 6 (rte c'/ 3 /i t, LESSOR The equipment rented hereunder was set up, inspected and, if new, (Dealer) - adjusted according to factory recommendations before delivery. Operation and servicing have been explained to the Lessee. Signature: Date: ORIGINAL RENTAL AGREEMENT 4. Risk of Loss. Lessee unconditionally assumes all risk and liability for, all damages for injuries or death to person and property arising out of or related (whether directly or indirectly) to the use, rental, possession or transportation of the Equipment including,but not limited to, any claims that Lessor was negligent, failed to warn Lessee of any risks or dangers associated with use, possession or transportation of the Equipment, or failed to assist Lessee load, unload, transport or inspect the Equipment before, during or after the Term of Lease. Lessee, at their own expense will carry public liability insurance with minimum liability limits in the amount of $1,000,000 per person and $1,000,000 per occurrence for bodily injury, including death, and in the minimum amount of $100,000 per occurrence for property damage. In addition, Lessee will maintain property insurance for all loss or damage to the equipment for not less than 100% of the equipment value and accessories. All insurance must be with companies and policies acceptable to Lessor which shall list Lessor as an additional loss payee & joint payee of any Equipment insurance claim proceeds. Lessee's obligation to insure the Equipment continues until Lessee returns the Equipment to Lessor and Lessor accepts it. Neither Lessor, its assigns, the wholesale distributor nor the Manufacturer shall be liable for any special, incidental, consequential or punitive damages that may result from any failure or use of the Equipment or for breach of this Agreement. Until the Equipment is returned to Lessor in satisfactory condition, Lessee is responsible for all risk of loss and damage, loss, theft, destruction or seizure of the Equipment. Lessee must promptly notify Lessor of any such event. In the event of any loss or damage to the Equipment, Lessee agrees to promptly repair or replace the Equipment to Lessors satisfaction, at Lessee's sole cost, and the terms of the Rental Agreement will continue to apply throughout the Rental Agreement term. 5. Purchase Option. Upon expiration of the term of the Rental Agreement or at any time during such term, and provided Lessee is not in default, Lessee may elect to purchase the Equipment for the "Total Present Value" shown above (plus applicable taxes, including estimated property taxes) and may apply to such purchase price the percentage specified above of all rentals therefore paid. Such election shall be evidenced by execution of a purchase order form supplied by Lessor, together with payment of the remainder of the purchase price in cash or settlement for the Equipment in some other manner agreed to in writing by the parties. Lessor has not made and does not warrant, represent, or otherwise make any promises related to financing the purchase price of the Equipment. Lessee Is solely responsible for securing the purchase price of the Equipment. Upon receipt of the remainder of the purchase price, we will transfer to you all of our right, title and interest in the purchased equipment AS -IS, WHEREIS, WITHOUTANY REPRESENTATION OR WARRANTY WHATSOEVER. The terms of the Rental Agreement continue prior to any final transfer of Lessor's right, title and interest in the purchased Equipment including Lessee's agreement to make timely rental payments. 6. Indemnification. Lessee shall be solely responsible for all losses, damages, injuries, death , suits, actions, claims, attorneys' fees and costs, ("Claims"), incurred or asserted by any person, in any manner related to the Equipment or the use, rental, possession or transportation thereof including any Claims Lessor was negligent. Lessee agrees to protect, defend and indemnify and hold Lessor harmless, from and against all Claims of any kind or nature whatsoever, although Lessor reserves the right to control the defense and to select or approve defense counsel. Lessee will promptly notify Lessor of all Claims made. Lessee's liability under this Section is not limited to the amounts of insurance required under this Rental Agreement. This indemnity commences upon the Rental Term Begins on Date of this Rental Agreement and continues beyond the termination of this Rental Agreement, for acts or omissions, which occurred during the Rental Agreement term, Lessee waives all rights and remedies conferred upon a lessee under Article 2A of the Uniform Commercial Code. Page 3 of 6 7. Addition of Accessories: Lessee will not, without the express written consent of Lessor, install any accessories or devices on the Equipment if such installation will impair the originally intended function or use of the Equipment. All accessories or devices affixed to the Equipment shall automatically become the property of Lessor unless such accessory device can be removed without in any way (a) diminishing the value of the Equipment, or (b) affecting the originally intended function or use of the Equipment. Any damage to the Equipment caused by the removal of such accessories or devices shall be promptly repaired at Lessee's sole expense to the satisfaction of the Lessor. 8. Compliance with Regulations: Lessee shall comply with and conform to all laws and regulations relating to ownership, possession, use, transportation and maintenance of the Equipment. If applicable law requires tax returns or reports to be filed by Lessee Lessee agrees to promptly file such tax returns and reports and deliver copies to Lessor. Lessee agrees to keep and make available to Lessor all tax returns and reports for taxes paid by Lessee, If applicable, Lessee shall include the Equipment in its rental fleet for emissions reporting purposes and shall accurately prepare and file all such reports in a timely manner. 9. Inspection: Lessee shall, whenever requested, advise Lessor of the exact location of the Equipment. Lessor and its representatives may, for the purpose of inspection, at all reasonable times, enter upon any job, building or place where the Equipment is located. Lessor, John Deere and other John Deere dealers may use Data Reporting Systems at any time during the term of this Rental Agreement to collect Machine Data from the Equipment and determine its location, condition, or other operating parameters. 10. Assignment: Lessor may, without notice to Lessee, assign this Rental Agreement and all of Lessor's rights In and to the Equipment and all rents due or to become due to Lessor hereunder. Lessee's obligation to pay rent under this Rental Agreement shall not as to any such assignee be subject to any diminution arising out of any breach of any obligation hereunder or other liability of Lessor to Lessee. Lessee may not assign this Rental Agreement, sub -lease or allow anyone other than Lessee's employees to use the Equipment Lessee agrees not to assert against Lessor's assignee any claims, offsets or defenses which Lessee may have against Lessor. 11. Default: If (a) Lessee shall (1) fail to make rental, service, or other payment when due, (2) attempt to sell or encumber the equipment, (3) cease operating, (4) institute or have instituted against him proceedings under any bankruptcy or insolvency law, (5) make an assignment for the benefit of creditors, (6) fail to comply with any other provisions of this Rental Agreement, (7) merge with or consolidate into another entity; (8) sell substantially all its assets; (9) dissolve or terminate its existence; (10) use the Equipment in a manner Lessor deems is improper or unreasonable; or (11) Lessee (if an individual) dies, or if, (b) any attachment, execution, writ of process is levied against the Equipment or any of Lessee's property, or if (c) a default occurs under any other agreement between Lessee (or any of Lessee's affiliates) and Lessor (or any of Lessor's affiliates); or if (d) for any reason Lessor deems itself insecure or the Equipment unsafe; or if (e) Lessor, In Its opinion, deems Lessee's financial condition unsatisfactory lessor may determine that Lessee is in default (An 'Event of Default'). Customer's Initials Date