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Home My WebLink AboutCC RESO 9223RESOLUTION NO. 9223 RESOLUTION AUTHORIZING EXECUTION OF LAYTON TRACK PAVER RENTAL AGREEMENT BE IT RESOLVED by the City Council of the City of National City that the City Manager be authorized to execute that certain Rental Agreement between the City of National City and LAYTON SALES COMPANY OF CALIFORNIA, a copy of which is attached. PASSED AND ADOPTED this llth day of October, 1966. ATTEST: Track Paver RENTAL AGREEMENT This Agreement made and entered into this 1,q day of Jul 19 66 by and between Layton Sn1 QG Cn' of California with principal offices at ated, or may be operated, during the terms of this Rental Agreement and Lessee agrees to maintain Public Liability and property damage insurance, naming Lessor as a co-in- sured and to defend, at Lessee's own expense, any and all actions brought against either or both of the parties hereto for damages to persons or property caused by said equip- ment or by its operation, and to hold Lessor free and harm- less of and from any and all claims and demands which may arise, or be occasioned to any person or to any prop- erty by or through the use of said equipment, during the term of this Rental Agreement, or any renewal thereof._ hereinafter called "Lessor," and City or' Nntiona1-Any renewal thereof except loss of use due to de - City fects in equipment, due to defects of design,manu-, a municipal corporation organized and existing under and facture or assembly by manufacturer or lessor or maintenance performed by manufacturer or lessor. I1762 Western Ave. Stanton., Cal.1 f ormi by virtue of the laws of the State of hereinafter called "Lessee." California Witnesseth: THAT WHEREAS, T,he Lessee requires the use of one Layton Track Paver, Model H-5CC , S/N:T-1 R11 -R WHEREAS, the rental required to be paid by Lessee under this Rental 'Agreement represents the reasonable rental value of such equipment, and WHEREAS, Lessor is willing to Rent such equipment to City of National City for its exclusive use and possession, in accordance with the Wayne Rental Agreement pay out schedule. NOW, THEREFORE, for and in consideration of the payment by Lessee of the rentals hereinafter provided and the performance of the covenants and conditions herein contained on the part of the Lessee to be kept and per- formed, the parties hereto hereby agree as follows: First The Lessor hereby rents unto the Lessee and the Lessee hereby hires of and from the Lessor the following described property, to wit: Layton Track Paver Model H-500 S/�1 H-1811-B for a period of day of July 12 ''+lontaommencing on the 19 19 66 , to and including the 1 R , day of July 19 P7 , for the agreed rental of Twenty SPvan F�1-,rTi' S: rf tr S=zr�n and Thirty :irht One Hundreds Dollars ( 27 67 • S8 ) (being the aggregate rental payable for the entire terrh of this Rental Agreement computed in accordance with the Wayne Rental Agreement . 1, amount. tut bl .aa vl 1.u1J nGL1La1 Ab'L wlut.ut, whether as rental or otherwise, or upon the violation by Lessee of any of the terms or conditions hereof and the failure to remedy such default within fifteen (15) days after written notice from Lessor so to do, then at the option of the Lessor, this Rental Agreement shall forthwith cease and terminate and all rights of the Lessee in and to said equipment shall be at an end and the Lessor shall become entitled to the immediate possession of the equipment. The declaration of a default and repossession of the equipment by Lessor shall not excuse Lessee from liability to the Les- sor for any rental earned prior to the termination of said Rental Agreement, or for any other expense incurred by Lessee prior to the termination of said Rental Agreement. Lessee shall further be liable for and shall pay all expense incurred by Lessor in taking such equipment into its pos- session upon such or any default under the terms of the Rental Agreement. Upon any date that the rental hereinabove reserved shall be payable, during the term of this rental agreement or any extension thereof, the Lessee is given the exclusive right to purchase the equipment upon payment to the Lessor of the then reasonable market value of such equipment, which shall be the original rental price of the equipment, the sum of Twenty S even li taloned S i xty S even (SPELL OUT AMOUNT) and Thirty Hight One Hundreds Dollars ($ 2767.38 ); less reasonable depreciation; that it is further agreed that the reasonable market value of said equipment after 13 months rentals have been paid, allowing for reasonable depreciation for said period, shall be the sum of Not apply (SPELL OUT AMOUNT) Dollars ($ ); that the reasonable market value of said equipment after 25 months rentals have been paid, allowing for reasonable de- preciation for said period, shall be the sum of Not apply By, — pay out scneoute), wmcn rental snau oe pain as LUUQWS, to wit: - $230.62 per month for eleven months and one month at $230.56 Second Lessor guarantees to furnish Lessee with the aforemen- tioned equipment in good operating condition and further agrees to extend to the Lessee the same guarantees pres- ently extended to the Lessor by the Manufacturer. Third Lessor covenants, warrants and guarantees peaceful pos- session of the equipment to Lessee at all times during the term of this agreement. Fourth During the term of this Rental Agreement, Lessee shall be responsible for and shall pay all charges for upkeep and all storage of said equipment and shall make, at its own expense, any and all repairs and supply and pay for any and all parts and accessories necessary to maintain and operate said equipment in proper condition and good run- ning order, excepting that any defects in said equipment or any parts and accessories ordinarily covered by the man- ufacturer's guarantee, shall be supplied and paid for by the Lessor; Lessee agrees that at the end of the aforesaid term, or any sooner termination thereof; as aforesaid, the Lessee shall redeliver said equipment to Lessor in as good condi- tion as when delivered to Lessee, reasonable wear and tear excepted, but Lessee shall be liable to Lessor for any and all damage, destruction or depreciation caused by accident, negligence, fire, the elements, any act of a public enemy, sabotage, war, invasion, act of God, or other casualty, or failure or neglect by Lessee to keep such equipment in re- pair. Said Lessee. agrees that it will at all times during the terms of this Rental Agreement keep said property insured in a sum equal to its reasonable market value for the bene- fit of Lessor. Lessee shall not be entitled to any deduction of rent for the time during which said apparatus is out of repair or is unuseable by Lessee. except loss of use o defects in equipment, due to defects of __ _.... _.._ (SPELL OUT AMOUNT) Dollars ($ ); that it is further agreed that the reasonable market value of said equipment after 37 months rentals have been paid, al- lowing for reasonable depreciation for said period, shall be the sum of id of apply (SPELL OUT AMOUNT) Dollars ($ ), that the reasonable market value of said equipment at the expiration of this rental agree- ment, allowing for reasonable depreciation for said period, shall be the sum of One Dollar ($1.00). Seventh Lessee understands that Lessor may assign this Rental and any and all sums payable .hereunder, Lessee agrees that any Assignee of Lessor shall not be liable for the per- formance of any obligations, representations or warranties of Lessor, that as to such Assignee, the payments due here- under shall not be subject to any defense, offset or counter- claim otherwise available to Lessee, and that Lessee will look solely to Lessor for any remedy Lessee may have or claim to have. Eighth All said Equipment shall remain the property of the Lessor and title thereto shall remain in Lessor exclusively. Ninth This agreement shall bind the successors or assigns of the respective parties thereto. Tenth This Rental Agreement shall take precedence over all previous negotiations and no representations are considered as entering into this Rental Agreement, except such as are contained herein.. Eleventh The Lessee shall have the right at any time to quit and sur- n, Fifth manufacture or assembly by manufacturer ender the equipment to the Lessor and upon doing so will intent eeeisptorbeoniab for anonto pay andr satisfy every thereby relieved from the payment of any further rentals hall lawful claim and liability arising against said equipment during the term of this Rental Agreement and, as additional rental, assumes hereunder all license fees, taxes, charges and penalties imposed by any state, governmental, or mu- nicipal subdivision in which said equipment may be situ - under this rental agreement excepting that the Lessee s not be relieved from the obligation to pay any rentals which shall then be due and unpaid and which shall have accrued to the Lessor on account of the use of the equipment by the Lessee prior to the surrender of the equipment to the Lessor. IN WITNESS WHEREOF, the parties hereto. have hereunto set their hands and seals the day and year first above written. By Lessee TITLE LAYTON SAL``F:S CO. 0 <' CALF ORinA Lessor �)'�l'. i'1 V.P. TITLE Form of within contract approved: Seal