HomeMy WebLinkAboutCC RESO 7402RESOLUTION NO. 7402
Be it resolved by the City Council of the City of National
City as follows:
The lease and option agreement for rental of a tractor
from K.C.Y. Tractor Company, a copy of which is hereto
attached and by reference made a part hereof, be and the same
hereby is approved, and the Mayor is authorized and directed
to execute the same for and on behalf of City of National
City.
PASSED AND ADOPTED this 27th day of January, 1959.
ATTEST):
CITY CLERK
MAYOR
LEASE AND OPTION AGREEMENT
THIS AGREEMENT, made and entered into this 27th day of January , 19..5sr, by and between
K.C.Y C.Y. TRACTOR COMPANY
, hereinafter called "Lessor" and
C i Tl OF F ►T..t QMkL..C! TY.`- -
-O-..RUM : al...S i2roora1'e-i.Cn County of San. Diego
That Lessor hereby
to -wit:
ONE
BA€ )OE1 and 24" 6001KET.
State of California, hereinafter called "Lessee".
itlwPii 6rt1:
to the Lessee and Lessee hereby hires of and from Lessor the following described property,
CASE Model 20 wham i TRACTOR, With th LOADER,
SUM EISIBMSt
!ratter, 6120846
Leader, 402+5492
Backhae, 4022802
fur the period of 5" months from and including the I I day of Februarys , 19---59
to and including the 30'th day of June 199 , the rental for said period is to be
$ 377...50 , of which $ 777 fey is paid herewith and the balance of $. I woo Bo
for
said period is to be paid by Lessee to Lessor in . ..__ monthly pay-ments of $ 450-0.Q.Q-..0.
(Number, Monthly-Quaneey-SeminneuaU
commencing on March ( , 19 .$9, and monthly thereafter until said balance of
(mmeey QuanerlvSemisereel i
rental is paid in full.
In consideration of said rentals and agreements on the part of Lessee hereinafter contained, Lessee shall have and is hereby
granted an irrevocable option to renew this iease for the eenod of
12
months from and including the 110 day of
July _ , 19.39., to and including the 3t?Rta day of . , 1960 ,
for the rental of Five Thousand Five iiufidrtd Twenty
dollars, ($20
00
); said amount to be paid to Lessor in
12 equal monthly payments of.rau iiiiiidrect..5L*ty dollars ($4C.Oaceireldlbefieseeleimao
y )
each, 1+"egMM
•••.►•se-5•••••__19.•-7mittlm'!iTC►dC!'FJiro moir Tf!!!CA'a1ld7!'idt"'tmmile••••s-ss•_.mew
Pen i t rwitteffiri °•'•••••••••••••o.s. ,dwSens.efl*«S...w••••••••••mv_5Sa r
mductrew
-•••_•••••-•.Q,eq.•-•s•_••,2T••'7ll'A[!''2?I'fA1'df••-s•-•_ •....»s-
Ir
-S3dbRnt•t? Onfit117td.1"2SSCTlir
•�c''ii''**�<'"' (Morabli-Quarmly-Semiaanaal)
••__•a..•_••••••s•__•••5as.ma••••••-•w)1me• mgae.••
,
a. In the event the Lessee defaults in the payment of any amount due or to become due under the terms of said lease or defaults
in the performance of any of the terms and conditions thereof, all the Lessee's rights hereunder are terminated and the Lessor shall
become entitled to possession of the property and to retain all rentals.
b. Lessee agrees that the said property will be used by Lessee for the ordinary and usual work for which it is designed. It is
further stipulated and agreed that during the term of this lease Lessee shall be responsible for and shall pay all charges for upkeep
and/or storage of said property and shall make, at its own expense, any and all repairs and supply and pay for any and all parts and
accessories needed to maintain and operate said property in proper condition and good running order, and that at the end of aforesaid
term or any other termination thereof, as aforesaid, the Lessee shall redeliver said property, to Lessor, in as good condition as when
delivered to Lessee, reasonable wear and tear excepted; but any and all damage or depreciation caused by accident, negligence, fire,
the elements or other casualty, or by failure or neglect to make repairs as needed, is not excepted; provided, however, if said Lessee
shall exercise its option to renew this lease as is herein provided, then and in that event said property shall not be redelivered to
Lessor but shall be retaired by Lessee.
c. Lessee agrees to be liable for, and to pay and satisfy every claim and liability, arisin? against said property, during the term
of this lease, and, as additional rental, assumes hereunder all taxes and charges and the penalties of the laws of the State of California
or any other jurisdiction in which said property is, or may be operated, during the term of this lease, and Lessee agrees 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 property, or by its operation, and to hold Lessor 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 property, during the term of this Isere,
any
—
or any renewal thereof; upon request I,ssee will obtain and keep in force insurance ance protecting Lessor against
mands and against loss or damage to said property hy fire or other hazard, in tune, amount and companies satisfactory to I essor'
d. Lessor covenants that it is the sole owner of said property and that no other person, party, firm or corporation on has any right,
title, or his lease or any
wal
said property, in or to
interest therein, except during subjectthe term of to the rights given he Lessee by virtue of thif said s lease, essor will notor encumber
e. In the event that Lessee shall ex,rcise all options to renew this lease and shall comply with all the provisions of this lease
on its part to be kept and performed, then and in that event upon the termination of said option renewal of said lease all the right,
d said as Lessorevidence of
cove-
nants that it will thereupon uLessor in execute tto Lessd to eed �a bill of salerty lio vest
all its right, title. and int eft infand rto said property
f
said transfer of title, anything in this lease to the contrary r ueaichstanding.
1 t Y pa 1 }2,sn<e of
f. ' 1. The cash price of sai 1 l-r . r-`t - r.m.11 .n ,.t .„as 3, and 5
Paragraph f.
must be
completed
when prop-
erty to be
leased is a
Motor Vehicle
as defined in
Section 2981
of the
Civil Code.
II 5.
•
2. The amount of lessee's c'nv
renta`. is
Cash
valued at $
3. The amount of unpaid rentals on the
cash price is
4. The cost to lessee of any insurance
the premium for which is included in
the contract balance is $
Amounts paid to any public officer a'+
fees in connection with the transaction
which are included in the contract
balance ( itemize below)
7. Th,c amount of the time price
differential
8. The lease contract balance owed by
the lessee —sum of items 6 and 7
9. Number of instalments required to
pay lease contract balance
Amount of each rental
instalment
Date for payment of the
rentalinstalm.entse
g The items in paragraph f above are set forth in compliance with Sections 2981-2982 of the Civil Code of California and such
compliance shall not, for any purpose whatsoever, be construed to make this agreement anything other than a lease of personal
property. Lessee acknowledges receipt of an exact copy of this agreement.
h THIS AGREEMENT shall, in every respect, be binding on the parties hereto, and their respective successors and assigns.
ti WITNESS WHEREOF, the parties hereto have hereuntn set their hands and seals the day and year first above written.
car ce` NATIONAL err/
LC.z. macs ccx4PAIII
�C.cc✓<"Lc'��rzd
>proved for Lessee
By.
— By
By..
By
Tide
ASSIGNMENT
E va.ue received, the undersigned does hereby sell, assign and transfer to the Bank of America National Trust and Savings
xsga,'-r.Cv.n, hereinafter called the Bank, his, its or their right, title and interest in and to the within lease agreement, the property
Kerns d rribai and all moneys to lts in duethereunder.g any dueIn lunderon of the sad lease,urchase at the timf e and is lease
n the mannerttherein specified,
the undersigned
or in
,nth•- what the Lessee defaultsremaking any payment on demand ls due or to become due under
°he s. ,d least t thas •og thrr with fails to
which wouldenew the ld have become due had all the oopt options in said lease been exercisthe ed. Upon payment
ghtsdtoum.. + yup rrt�' derived the Bank of by virtue hereofrica or bNational virtue ofrust and said lease. Thesundersigned hereby consentsiation agrees to tthat lease and
orb is
•..±ecersars ur ,,,r,.ignn, may without notice extend the time for payment under said agreement, waive the performance of the usuch terms
e
ettlement
gxgg„.d lir.Miity heor reunder The undersimay ggned waiand ves the provisions any rof Section 2845, 2849 and 2850 of hewithout eCivil Code of limiting
aliforn�''
• 1TEI) at 19
TPt511 (itsysssn) 9.53
Lessor sign here