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HomeMy WebLinkAboutCC RESO 9132RESOLUTION NO. 9132 RESOLUTION AUTHORIZING EXECUTION OF WALD STRIPING MACHINE RENTAL AGREEMENT BE IT RESOLVED by the City Council of the City of National City that the Mayor and City Clerk be authorized to execute and attest that certain Wald Striping Machine Rental Agreement between the City of National City and Wald Industries, Inc. Huntingdon, Pennsylvania, a copy of which is attached. PASSED AND ADOPTED this 17th day of May, 1966. ATTEST: CITY CLERW /� 417 /i_ , V d WALD STRIPING MACHINE RENTAL AGREEMENT THIS AGREEMENT made and entered into this 4TH day of MAY 66 Wald Industries, Inc. Huntingdon, Pennsylvania 19 by and between hereinafter called "Rentor", and the City of: NATIONAL CITY a municipal corporation organized and existing under and by virtue of the laws of the State of CALIFORNIA hereinafter called "Renter", WITNESSETH: THAT WHEREAS, the Renter requires the use of one Wald Striping 36 Machine, Model WHEREAS, the respective amounts of the annual rentals hereinafter provided for to be paid by the Renter are within the income and revenue of Renter provided for each ofsuch years, and WHEREAS, the rental required to be paid by Renter under this rental agreement represents the reasonable rental value of such equipment, and WHEREAS, rentor is willing to rent such equipment to the City of NATIONAL CITY for its exclusive use and possession, subject to the terms and conditions thereof. NOW, THEREFORE, for and in consideration of the payment by Renter of the rentals hereinafter provided and the performance of the covenants and conditions herein contained on the part of the Renter to be kept and performed, the parties hereto hereby agree as follows: FIRST The Rentor hereby rents unto the Renter and the Renter hereby hires of and from the Rentor the following described property; to wit: ONE WALD MODEL 36 STRIPING MACHINE HAVING THREE SPRAY GUNS, TWO DISPENSERS AND HOPPERS, ONE ELECTRICAL SKIP LINE MODEL 36, AND TWO AIR AGITATORS 3 YEARS 15th for a period of commencing on the day of June 1966 , to and including the 15th day of April , 1969 for the agreed rental of SEVEN THOUSAND, FORTY THREE and 40/100 (Dollars $ 7,043.40 ) (being the aggregate rental payable for the entire term of this rental agreement,) which TWO PAITMNTS OF $195.65 EACH UPON rental shall be paid as follows, to wit: DELIVERY ($391.30) AND THIRTY THREE PAYMENTS OF ONE HUNDRED NINETY-FIVE and 65/100 ($195.65) EACH, EACH THIRTY DAYS THEREAFTER AND ONE FINAL PAYMENT OF ONE HUNDRED NINETY-FIVE and 65/100 ($195.65). SECOND Upon default by the Renter in the payment of any amount due under the terms of this rental agreement, whether as rental or otherwise,. or upon the violation by Renter of any of the terms or conditions hereof and the failure to remedy such default within thirty(30) days after written notice from Rentor so to do, then, at the option of the Rentor, this rental agreement shall forthwith cease and terminate and all rights of the Renter in and to said equipment shall be at an end, and the Rentor shall become entitled to the immediate possession of the equipment. The declaration of a default and the repossession of the equipment by Rentor shall not excuse Renter from liability to the Rentor for any rental earned prior to the termination of said rental agreement, or for any other expense incurred by Renter prior to the termination of said rental agreement. Renter shall further be liable for and shall pay all expense incurred by Rentor in taking. such equipment into its possession upon such or any default under the terms of this rental agreement. THIRD The equipment is to be used by Renter for the purpose of striping the streets of the City, and for such other purposes as shall be customary or necessary in the conduct and maintenance of a street striping program. FOURTH During the term of this rental agreement, Renter shall be responsible for and shall pay all charges for upkeep and all storage of said equip- ment and shall make, atits own expense, and any and all repairs, and supply and pay for any and all parts -and accessories necessary to main- tain and operate said equipment in proper condition and good running order, excepting that any defects in said equipment or any parts and accessories ordinarily covered by the manufacturer's guarantee, as set forth in the specifications, shall be supplied and paid for by the Rentor; and that at the end of the aforesaid term, or any sooner termination thereof; as aforesaid, the Renter shall redeliver said equipment to Renter in as good condition as when delivered to Renter, reasonable wear and tear excepted, but Renter shall be liable to Rentor for any and all damage, destruction or de- preciation 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 Renter to keep such equipment in repair. Said Renter agrees that the operation and use by it of said apparatus during the term of this rental agreement shall be at its own cost, expense and risk, and that it will at all times during the term of this rental agreement keep said property insured in a sum equal to its reasonable market value for the benefit of Rentor, and Renter further agrees that if said apparatus or any part of the same be lost, damaged, or destroyed Renter shall promptly replace or repair such lost, damaged, or destroyed part or pay Renter the value thereof in cash and Renter shall not be entitled to any deduction of rent for the time during which said apparatus is out of repair or is unuseable by Renter. Renter agrees to bear and pay any and all cost, expense, damage, taxes and liability of every kind whatsoever which may be imposed or assessed against or result to the Rentor on account of the possession or use of said apparatus by the Renter. FIFTH Renter is to be liable for and to pay and satisfy every lawful claim and liability arising against said equipment during the term of this rental agreement and, as additional rental, assumed hereunder all license fees, taxes, charges and penalties imposed by the State of , ?" or any other state, governmental, or municipal sub- division in which said equipment may be situated, or may be operated, during the term of this rental agreement and Renter agrees to defend, at Renter'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 equipment or by its operation, and to hold Rentor free and harmless of and from any and all claims and demands which may arise or be occasioned to any person or to any property by or through the use of said equipment, during the term of this rental agreement, or any renewal thereof. SIXTH Rentor covenants, warrants and guarantees peaceful possession of the equipment to Renter at all times during the term of this agree- ment and further guarantees to give clear title to the equipment in case the Rentor decides to purchase same. Renter agrees that Rentor may assign this rental agreement and any and all sums payable there- under. SEVENTH Upon any date that the rental hereinabove reserved shall be payable during the term of this rental agreement or any extension thereof, the Renter is given the exclusive right to purchase the equipment upon payment to the Rentor of the then reasonable market value of such equipment, which shall be the original purchase price of the equipment, the sum of SEVEN THOUSAND FCaTY-THREE and 40/100 Dollars ($ 7 , 043.40 ), less reasonable depreciation; that it is further agreed that the reasonable market value of said equipment after 13 rentals have been paid, allowing for reasonable depreciation for said period, shall be the sum =: of THREE THOUSAND SIX HUNDRED FORTY-FOUR and 35/100 Dollars ($ 3,644.35 ); that the reasonable market value of said equipment after 25 rentals have been paid, allowing for reasonable depreciation for said period, shall be the sum of ONE THOUSAND SEVEN HUNDRED FORTY TW0 and 95/100 Dollars ($1,742.95 ), that the reasonable market value of said equipment at the.ex expiration of the THIRD p year of this rental agreement, allowing for reasonable depreciation for said period, shall be the sum of ONE Dollars ($1.00 ). EIGHTH No credit on the purchase of said equipment will be given Renter for any rental payments paid by Renter hereunder. NINTH The Renton agrees to deliver the said apparatus in accordance with the specifications hereto annexed and which form a part of this rental agreement, on or before TUNE 15, 1966 subject to all de- lays due. to (1) strikes, lockouts, labor difficulties, or shortages of labor; (2) failure to obtain materials, equipment, or cars; (3) delay in obtaining delivery of any part of the equipment herein rented from any manufacturer thereof for any reason whatsoever; (4) Govern- mental regulations, restrictions, or controls; (5) war, riots, catastrophe, act of a public enemy, invasion, or act of God: and (6) any other causes beyond the control of the Rentor and it is further provided that if by reason of any delay said equipment shall be de- livered to Renter subsequently to said on or before DUNE 15, 1966 then the term of this rental agreement shall commence on the date of such de- livery and the first and second of said rental payments as hereinbefore provided shall be due and payable on delivery and one rental payment each thirty (30) days thereafter, and in such event, the term of the within rental agreement shall be extended for a period of time equal to such delay. TENTH This agreement shall bind the successors or assigns of the respective parties thereto. ELEVENTH This rental agreement and specifications shall take precedence over all previous negotiations and no representations are considered as entering into this rental agreement except such as are contained herein or in the specifications. TWELFTH The Renter shall have the right at any time to quit and surrender the equipment to the Rentor and upon doing so will be thereby relieved from the payment of any further rentals under this rental agreement excepting that the Renter shall not be relieved from the obligation to pay any rentals which shall then be due and unpaid and which shall have accrued to the Rentor on account of the use of the equipment by the Renter prior to the surrender of the equipment to the Rentor. IN WITNESS -WHEREOF, the parties hereto have hereunto set their hands and seals the day and year first above written. The City of By Renter Title' Rentor Title Form of within contract approved: Seal City Attorney