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HomeMy WebLinkAboutAmerican State Equipment AMERICAN STATE EQUIPMENT 1-24-2017 rhe equipment people EQUIPMENT LEASE Dated: (Do not use lease for personal,family,household or agricultural purposes.) AMERICAN STATE EQUIPMENT CO., INC. 2055 South 108th Street/Milwaukee,Wisconsin 53227/(Phone 414-541-8700) 1. ESSENTIAL TERMS. AMERICAN STATE EQUIPMENT CO.,INC.("Lessor")hereby leases the following equipment("Equipment"): DOLLAR RENTAL RATES TY. DESCRIPTION AND IDENTIFICATION NUMBERS DAY WEEK MONTH 1 Liebherr R946 Excavator $2,600 $7,800 s/n 1150-36825 ASE#C000072 Stanley NM 458 Breaker $1,500 $4,500 s/n 45B11B05 ASE#C000992 All rental rates approved by Jim Drought TERMS: HOURLY RATE: MOBILIZATION CHARGES(Charges to the Lessee to prepare the Equipment for shipment to and use by the Lessee):$ (`-; cg)no City of Oshkosh ) (corporation))(p p)( proprietorship) LEASED TO: ("Lessee"),a co oration (partnership) sole ro rietorship) whose billing address is 215 Church aA�ve,Oshkosh,WI 54901 to be shipped to �Z 1 Z s , 1 L-n a m1 -Ym uo via R&J transport fond du lae with an INSURED VALUE of$530,000 ("Insured Value")upon the terns and conditions as hereinafter set forth: The minimum term of this Lease shall be for 1 month (days)(weeks)(months),commencing on the date the Equipment is delivered or within five(S)business days of written notice by Lessor to Lessee that the Equipment is available for delivery("the Initial Rental Period"),and the Lease shall be automatically renewed for like periods thereafter(not to exceed one month periods)until either party gives ten(10)days written notice of termination. The Rental Period shall include the time,after return to Lessor,necessary for inspection and all time necessitated by repairs contemplated in Paragraph 5 hereof. All rental payments shall be in advance and are due on receipt by Lessee of Lessor's periodic invoice,unless otherwise stated herein. In entering into this Agreement, Lessee agrees to all terms and conditions that follow: (a)Lessee acknowledges that Lessee has read and understands all terms and conditions of this Agreement,(b)Lessee agrees that this Agreement is a net rental agreement and that Lessee has an unconditional obligation to make all payments due under this Agreement,(c)Lessee will use the equipment only for business purposes,(d)Lessee warrants that the person signing this Agreement for Lessee has the authority to do so and to grant the power of attorney set forth elsewhere in this Agreement,(e)Lessee confirms that it decided to enter into this Agreement rather than purchase the equipment,and(f)Lessee agrees that this Agreement will be covered by the laws of the State of Wisconsin. 2. RENT:TAXES AND OTHER CHARGES. Lessee shall pay Lessor rent as set forth above payable at Lessor's office,without deduction or offset for any reason. The obligation to pay rent commences on the earlier of the date Lessee takes delivery or five(5)days following written notice by Lessor to Lessee that the Equipment is available for Lessee to take possession of on a date certain. The rental rates herein specified are for the use of said equipment for a consecutive operating period of eight(8)hours per day,or forty(40)hours per week(a seven(7)day period)or one hundred seventy-six(176)hours per month(a four (4)week period)or less,and are not subject to any deduction on account of non-working time during such period. In the event said Equipment is used for additional shifts,Lessee shall notify Lessor and the rental rates shall be increased according to the number of additional hours of use to a maximum of sixty percent(60%)for each additional shift worked. If an hourly rate for additional hours is not specified herein,the rate shall be calculated at 1/400i of the weekly rate for each additional hour if rental is computed at a daily or weekly rate,or 1/176'of the monthly rate for each additional hour of rental if rental is computed at a monthly rate. Such additional rent for any period is payable on the same date. Rent at the contract rate shall continue until Lessee returns equipment to Lessor's West Allis,Wisconsin,yard or another return point specifically designated in Paragraph 4. Rent shall not abate by reason of any damage to, loss or destruction of Equipment or any interruption, from whatsoever cause, in the use, operation or possession of Equipment. In addition to the stated rent, Lessee shall pay any assessments, sales,use, excise,personal property,ad valorem,stamp and documentary taxes and any other governmental taxes,charges,fees(including registration and license),and Occupational Safety and Health Act assessment,fines or penalties,including whatsoever assessed against or payable by Lessor,Lessee or others,during the rental period on,or relating to,the Equipment or the use,registration rental,shipment,transportation,delivery or operation thereof,or relating to this Lessee,excepting only federal and state income taxes of Lessor. Lessee shall file all required returns and furnish copies to Lessor. 3. SECURITY DEPOSIT. Lessor acknowledges that Lessee has paid upon execution of the Lease,a security deposit of$ to be held,interest free,by Lessor. The deposit is not a rental advance. If the Lessee,at the expiration or termination of the Lease:(a)shall not be in default hereunder;(b) shall have paid to Lessor all amounts due hereunder;and(c)shall have returned to Lessor the Equipment in the condition provided for in Paragraph 5,Lessor shall refund to Lessee the security deposit. In the event of any Lease default,or should Lessee fail to return the Equipment in the condition and in the manner required in Paragraph 5,Lessor may but shall not be obligated,to apply the security deposit to cure such default,in which event Lessee shall promptly restore the security deposit to the full amount specified above. 4. LOADING;FREIGHT,DELIVERY AND MISCELLANEOUS. Lessor shall load and unload Equipment at its yard or storage area during normal working hours. Loading and unloading of Equipment elsewhere,or at other times,shall be Lessee's expense. All such expenses of Lessor shall be paid as rent by Lessee on a time and material basis. Re 9/24/14 1 Lessee's InitialSr_�_ Lessee shall pay all delivery and return(termination)transportation charges to and/or from F.O.B.point on a time and material basis. Lessee shall take delivery of the Equipment within five(5)business days of mailed written notice from Lessor to Lessee's billing address. Delivery is F.O.B. Milwaukee yard In addition to the Lessee's responsibility for transportation charges prescribed here in this Lease,Lessee(you)agrees to provide for the installation,set-up,and at the termination of the rental,preparation for the return of the Equipment to the Lessor unless boxes(a)and/or(b)immediately below are marked: (a) Lessee authorizes Lessor to provide for the installation and set-up of the Equipment and agrees to pay expenses involved therein on a time and materials basis except as specified here: (b) Lessee authorizes Lessor to provide for the disassembly and preparation for return of this Equipment from Lessee to Lessor and agrees to pay expenses involved therein on a time and materials basis except as specified here: Lessor's loading and/or delivery responsibility shall be contingent upon the absence of strikes, accidents, material or transportation shortages, or other causes reasonably beyond Lessor's control,including governmental directives and limitations. Lessor shall not be responsible for any loss or damage arising from such delay but shall exercise reasonable diligence in meeting a specified shipment date. Lessee has the obligation when it receives the Equipment,to within three(3)days after delivery,inspect it and to determine if the Equipment is in good working order. All parties agree that unless Lessor is notified of deficiencies in condition or damage in writing within three(3)days of the delivery,the Equipment is determined to be without defects and in good working condition. Accordingly,the Equipment will be deemed irrevocably accepted by Lessee upon the earliest to occur of the following: (a)the delivery to Lessor of a signed delivery and acceptance certificate;or(b)three(3)days after delivery of the equipment to Lessee if Lessee has not given written notice to Lessor of its nonacceptance of the Equipment. Lessee understands that all risk of loss in respect to the subject Equipment passes to the Lessee at the time the Equipment departs and/or leaves from Lessor's premises, and such risk remains upon Lessee until such time as the Equipment is returned to Lessor's premises. 5. FUELS; MAINTENANCE. All fuel costs shall be paid by Lessee. If available to Lessor, a parts and service manual shall accompany P Eq ui ment and be delivered to Lessee who shall return said manual at the end of the Lease or be charged with replacement cost of same. Lessee,at its expense,shall I,I perform all normal periodic and other basic service adjustments and lubrication requirements,including the replacement of expendable materials(including,but not limited to,wear parts related to this Lease such as cable,clutch and brake bands,tires,hydraulic oils,hoses,batteries,oil and fuel filters and all lubricants)and check Equipment before each shift or work period. Lessee shall, when requested by Lessor, keep a logbook reflecting Equipment use and completion of the required servicing. Lessee shall,at its expense,except for work covered under manufacturer's warranty,keep and maintain Equipment,including tires,in the same condition as when received,usual wear and tear excepted,and return it in good operating condition. All parts added to Equipment shall become property of Lessor. Lessee shall make no alteration to Equipment without written Lessor consent. If Equipment is returned and requires maintenance work to restore it to the same condition as delivered, the rental period shall extend to cover such period of repair and Lessee shall also pay the cost of such repair including overtime and special expenses necessary to expedite repair. Lessor shall have the exclusive option of determining whether to repair Equipment or to consider Equipment beyond repair. If Equipment is beyond repair, Lessor-shall promptly notify Lessee and Lessee shall promptly make appropriate claim to its insurance company for such loss. If the insurance company fails or refuses to pay Lessor all or any part of the loss,or should the insurance company not make payment to Lessor within thirty(30)days of when Lessee submits the claim,Lessee shall pay Lessor-all losses. I � Respecting the reference to usual wear and tear as set forth above,it is further agreed that should the Equipment be exposed to and/or utilized in extraordinary and/or severe duty applications, that such use constitutes utilization of the Equipment above and beyond the perimeters of usual wear and tear. Accordingly, Lessee acknowledges that it maybe charged for repair costs or additional rental in an amount in the absolute discretion of Lessor if Lessor determines such circumstances exist. ! Lessee further agrees that Lessor,in its absolute discretion,has the right,at any time if it suspects extraordinary and/or severe use of the equipment has occurred,to inspect the subject Equipment,including an internal examination of the Equipment and its parts. Lessee agrees to be responsible to pay additional rent at Lessor's usual rates in respect to the time expended by Lessor respecting such inspections. I � 6. OPERATION. Lessee shall have exclusive possession,control and use of the Equipment and shall use Equipment carefully,for the purpose and within the limits for which it is designed and shall only permit competent and properly trained persons to operate it. Lessor has no responsibility respecting the training of Lessee's operators. Further,all operators must be licensed and/or certified if required by federal,state and/or local law. The operation of the Equipment shall be in { the exclusive employ and control of the Lessee and Lessee assumes complete responsibility for wages, social security, unemployment benefits and worker's compensation. Lessor reserves the right to inspect the Equipment and the manner of its use and to remove Equipment without notice or consent from Lessee if misuse or improper maintenance is evident. Lessee agrees to pay any charges for work and/or inspection required by government agencies and/or labor unions in conjunction with this rental. 7. TITLE;RECORDING;SECURITY AGREEMENT. Lessor is the owner of and will hold title to the Equipment at all times during the term of this Lease. Lessee shall keep and maintain Equipment free and clear of any claims,liens or encumbrances. Lessee agrees that this transaction is a true equipment rental agreement. However, IF THIS TRANSACTION IS DEEMED TO BE A RENTAL AGREEMENT INTENDED FOR SECURITY, LESSEE HEREBY GRANTS TO LESSOR A PURCHASE MONEY SECURITY INTEREST IN THE EQUIPMENT(INCLUDING ANY ATTACHMENTS, APPURETENANCES, PRODUCTS,REPLACEMENTS,SUBSTITUTES,ADDITIONS,AND PROCEEDS).Lessee will deliver to Lessor signed financing statements or other documents Lessor shall request to protect Lessor's interest in the Equipment, LESSEE AUTHORIZES LESSOR TO FILE A COPY OF THIS RENTAL AGREEMENT AS A FINANCING STATEMENT AND APPOINTS LESSOR OR LESSOR'S DESIGNEE AS ATTORNEY-IN-FACT TO EXECUTE AND FILE, ON LESSEE'S BEHALF,FINANCING STATEMENTS COVERING THE EQUIPMENT. 8. ASSIGNMENT. Lessee shall not assign,transfer or otherwise dispose of its rights under this Lease,nor shall Lessee sublease,or permit the use by third parties,or hypothecate or otherwise transfer or encumber the Equipment,without the prior written consent of Lessor,which may be withheld at Lessor's sole discretion, hi the event Lessee assigns,transfers,subleases or otherwise disposes of Lessee's rights under this lease,with or without Lessor's consent,the Lessee shall not be relieved of any liability under this Lease.Any assignee or subtenant shall assume all obligations of Lessee and shall be jointly and severally liable with Lessee for the payment of Rent and performance of all terms,covenants and conditions of this Lease. In connection with any sublease or assignment,Lessor shall provide Lessee with copies of all assignments,subleases and assumption instruments. Lessee hereby assigns any and all of Lessee's rights under the sublease to Lessor. All rights of Lessor may be assigned,pledged or otherwise disposed of,in whole or in part,with or without notice to Lessee and I the event of such transfer,Lessee waives any counterclaims against transferee. 2 ��� nev.vnana Lessee's Initia 1 9. COMPLIANCE WITH LAW; REPOSSESSION AND DEFAULT. Lessee shall use Equipment in accordance with all applicable governmental laws,ordinances and regulations and shall defend,indemnify and hold Lessor harmless from all loss,liability or expense(including reasonable attorneys' fees)resulting from actual or asserted violations, Lessee shall assume full responsibility to the public,shippers or regulatory agencies having jurisdiction over the Lease. Lessor shall have the right to immediate possession of Equipment,without notice to,or consent of Lessee,if at any time Lessor finds the Lessee in default. In addition,in the event Lessee defaults,Lessor shall have all of the rights and remedies permitted by law,including,but not limited to,the following:(a)Lessor may declare the entire amount of the unpaid rent contracted for under this lease agreement immediately due and payable in full;(b)without demand,legal process or notice, to enter the premises where the Equipment is located and take possession and remove same in which event all rights of Lessee to Equipment shall terminate,and(c)all other rights and remedies permitted by law. All rights and remedies are at the sole discretion of Lessor and are cumulative and the use of one is not an election to relinquish others. 10. DEFAULTS. The occurrence of any of the following events shall constitute an event of default under this Lease:(a)failure to take delivery of the Equipment within five(5)business days of mailed written notice from Lessor to Lessee's billing address that the Equipment is available for delivery;(b)the non- payment by Lessee of any sum required to be paid on the date specified;(c)the default by Lessee of any other obligation,covenant,or condition or any Lease term which is not cured within ten (10) days after notice; (d) any affirmative act of insolvency by Lessee or the filing by Lessee of any petition or action under any bankruptcy,reorganization or insolvency or any other law for the relief of or relating to debtors; (e) the filing of any involuntary petition under any bankruptcy, reorganization or insolvency law against the Lessee,or the appointment of any receiver or trustee to take possession of the properties of Lessee;(f)the subjection of any Lessee's property to any levy,seizure,assignment,application,or sale for or by a creditor or governmental agency;(g)the death or judicial declaration of incompetency of Lessee if Lessee is an individual;(h)any certificate,statement,representation,audit or warranty hereinto before or hereafter furnished by or on behalf of Lessee pursuant to or in connection with any Lease hereunder which proves to be false in any material respect at the time as of which the facts therein were stated or certified; (i)the default by Lessee in meeting its borrowing or other obligations as they may mature;and 0)the termination of existence by Lessee by merger,sale or substantially all assets or otherwise,or the business failure of Lessee. 11. INSURANCE. At all times during the rental period,Lessee assumes all responsibility for Equipment and shall hold Lessor harmless from all loss including claims in any way arising from its possession,use or maintenance,Lessee agrees to procure,at its expense,insurance in a form acceptable to Lessor, insuring Equipment for its hisured Value against all risks of loss or damage while in transit and its possession. Such insurance shall provide that Equipment is insured for and valued at the Insured Value and shall name both Lessor and Lessee as insureds. Lessee further agrees to procure and include Lessor as an additional insured payee and provide a waiver of subrogation in favor of Lessor in its liability and property damage policies,which must include an excess umbrella liability policy,for the full limits of liability provided therein,but in any event,for not less than bodily injury limits of$1,000,000 and property damage limits of$500,000. (However, self-insured Lessees with a net worth of at least$ may request an exemption from this provision which may be withheld at Lessor's sole discretion. If such exemption is claimed,Lessor has the right to demand acceptable proof of financial responsibility). Lessee agrees to provide Lessor with certificates of insurance stating that such insurance shall not be cancelled or materially changed without thirty(30)days'prior written notice to Lessor. 12. NOTICE. Lessee shall deliver a notice to Lessor in writing at least five(5)days before Equipment is moved from any job site. Any notice required under this Lease may be sent by certified or registered mail but such notice is not deemed delivered until five(5)days after mailing. All notices to Lessor shall be at Lessor's address at the top of this Lease. All notices to Lessee shall at Lessee's billing address set forth on page 1 of this Lease. 13. DISCLAIMER. (A) LESSOR, NOT BEING THE MANUFACTURER OF THE EQUIPMENT, MAKES NO WARRANTY OR REPRESENTATION,EXPRESS OR IMPLIED,OF MERCHANTABILITY OR OTHERWISE,INCLUDING,BUT NOT LIMITED TO: THE FITNESS,DESIGN OR CONDITION OF THE EQUIPMENT; THE QUALITY OR CAPACITY OF THE EQUIPMENT; THE WORKMANSHIP IN THE EQUIPMENT; THAT THE EQUIPMENT WILL SATISFY THE REQUIREMENTS OF LAW,RULE,SPECIFICATION OR CONTRACT PERTAINING THERETO,INCLUDING,BUT NOT LIMITED TO,ANY OCCUPATIONAL SAFETY AND HEALTH ACT LAW,RULE OR REGULATION;AND ANY GUARANTY OR WARRANTY AGAINST PATENT INFRINGEMENT OR LATENT DEFECTS; (B) LESSOR IS NOT RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES OR LOSSES RESULTING FROM THE INSTALLATION,OPERATION OR USE OF THE EQUIPMENT OR ANY PRODUCTS MANUFACTURED THEREBY, OR FOR ANY OTHER REASON WHATSOEVER. LESSEE AGREES TO MAKE AND/OR SETTLE ALL SUCH CLAIMS DIRECTLY WITH MANUFACTURER. LESSEE SHALL INITIATE NO SUCH CLAIMS AGAINST LESSOR,AND IF LESSEE SHOULD MAKE ANY SUCH CLAIMS AGAINST LESSOR,LESSEE SHALL BE RESPONSIBLE FOR LESSOR'S REASONABLE ATTORNEY FEES AND COSTS. INCLUDED IN THIS DISCLAIMER ARE ANY AND ALL CLAIMS OF LESSEE FOR SETOFF OR OFFSET AGAINST LESSOR,AND ACCORDINGLY SUCH CLAIMS FOR SETOFFS AND/OR OFFSETS ARE ABSOLUTELY PROHIBITED. 14. RIGHT TO PAY OBLIGATIONS. Lessor shall have the right to pay any Lessee obligation(including insurance premiums and taxes)and Lessee shall reimburse Lessor(including interest accrued at 1-1/2%per month,unless this rate of interest is prohibited by law,and under such circumstances,at the maximum rate permitted by law),for any such amounts upon demand but no later than the date upon which any rental charge hereunder is due and payable. 15. LATE PAYMENT, COLLECTION AND SERVICE CHARGES. Lessee agrees to pay interest at 1-1/2%per month,unless this rate of interest is prohibited by law,and under such circumstances,at the maximum rate permitted by law,on all amounts of any nature due hereunder not paid within thirty (30)days after becoming due. Lessee agrees to pay all costs of collection(including reasonable attorneys'fees and expenses of Equipment repossession). 16. RISK OF LOSS. Lessee assumes and shall bear the entire risk of loss,theft,and damage to Equipment from any and every cause whatsoever, and in no such loss,theft or damage to Equipment or any part thereof shall Lessee's obligations to pay rent or other charges be impaired. 17. INDEMNITY. Lessee stipulates that it recognizes that it has the absolute duty to inspect the Equipment and remedy any defect whatsoever in respect to the Equipment. Lessee does hereby assume liability for,and does Hereby agree to indemnify,protect,save and keep harmless Lessor,its agents and servants and assigns from and against any and all losses, damages, injuries, claims, demands and all expenses legal and otherwise (including court costs and reasonable attorneys'fees)of whatever nature and kind arising on account of the use,condition or operation of Equipment during the term of the Lease. This indemnification provision specifically includes,but is not limited to,losses,damages,injuries,claims,demands and all expenses legal and otherwise(including court costs and reasonable attorney fees)that involve and/or are initiated by employees of Lessee against Lessor. Respecting such claims,and Lessor's rights under this provision for indemnification,Lessee specifically waives its rights under the Wisconsin Workers Compensation Act,(if equipment is utilized outside Wisconsin,the Workmen's Compensation Act or similar Act in the subject jurisdiction), said Act in absence of this waiver making the payment of Worker's Compensation the employer's(Lessee's)exclusive liability for work related injuries. Respecting this waiver,Lessee specifically stipulates that Lessee intends to waive its immunity under the Worker's Compensation Act,and further and expressly acknowledges that the subject of this waiver is the indemnification by Lessee in Lessor's favor respecting i injuries to employees of Lessee. Further,this indemnification provision specifically includes, but is not limited to, any and all environmental matters. Accordingly, and further without limitation, Lessee agrees to indemnify Lessor in regard to all environmental matters,including the release of hazardous substances and/or oil,fuel or petroleum spills and/or any 4 damage caused to the environment,including public and private property. f 3 Lessee's Initials;,-`��`(111 , 18. SEVERABILITY. The provisions of this Lease are severable. 19. GOVERNING LAWS AND JURISDICTION AND VENUE. For the sole purpose of resolving any problems of conflict of laws with respect to filing or recording hereof,it is declared and agreed that this Lease shall be deemed to be effective when the Equipment is delivered at the shipment address specified in Paragraph 1 and that questions of filing or recording shall be determined by the law of such place. Lessee agrees to execute any instrument necessary to filing or recording this Agreement upon request from Lessor. Both parties stipulate that in the event of litigation respecting matters involved in this lease, that venue and jurisdiction will be proper exclusively in the Circuit Court for Milwaukee County,Wisconsin. 20. COMPLETE AGREEMENT;AMENDMENT;WAIVER. This Lease constitutes the entire agreement between the parties and there are no representations or warranties except those contained herein. This Lease may not be amended except in writing. Lessor's failure at any time to require strict performance by Lessee of any Lease provisions, warranties, terms or conditions will not diminish any right of Lessor thereafter to demand strict compliance and performance. 21. TIME OF THE ESSENCE. Time is of the essence concerning all Lease provisions. 22. SUBSTITUTION OF EQUIPMENT. Lessor reserves the right to substitute like equipment for the Equipment leased hereunder, such like equipment being subject to the terms and conditions of this Lease. 23. CREDIT INSPECTION PROVISION. Lessee grants to Lessor the right,at Lessor's absolute discretion,to investigate the credit worthiness of Lessee. Accordingly,Lessee will cooperate in all respects regarding any such credit inspection by Lessor. 24. LESSOR'S EXPENSES. Lessee shall pay Lessor all costs and expenses,including reasonable attorney fees,incurred by Lessor in the exercise of any of its rights or remedies hereunder or enforcing any of the terms,conditions or provisions hereof. 25. EQUIPMENT IS NOT INVENTORY. Lessee represents and warrants that Lessee is not in the business of selling or leasing the Equipment and that the Lessee is not and shall not hold the Equipment for sale or lease. Lessee further represents and warrants that the Equipment does not and will not constitute "Inventory"of the Lessee,as that term is defined in Wis.Stat.§409.102(Ls)or other similar laws. 26. MISCELLANEOUS. (a) If the subject Equipment is placed on property or in a position involving hazardous materials and/or environmental problems,the Equipment shall be uncontaminated pursuant to applicable environmental laws and regulations at the termination of the Lease,and also periodically during the Lease Term,at the expense of Lessee. Furthermore,Lessee is required to provide Lessor with written notice that the subject equipment will be,is,or has been placed in such a position or environment. I (b) This Agreement may be executed in counterparts. Furthermore,facsimile or.pdf copies of required signatures are specifically deemed to be acceptable and binding. I (c) Lessee grants to Lessor a limited power of attorney by which Lessor may execute a UCC Filing Statement for Lessee in respect to this Lease,if Lessor,in its absolute discretion,deems such filing appropriate and/or necessary. I j SEAL [(I E WITNESS TO LESSEE: 0,1 4 � Yt ZE\r\ ( (Name of LeAsee) Titled'IUB -, Ianata This Lease before it is deemed effective must be signed and approved by an Officer or the Sales Manager of Lessor. AMERICAN STATE EQUIPMENT CO.,INC. LESSEE HEREBY ACKNOWLEDGES THAT IT HAS READ THIS LEASE AND IS AWAREOF ALL THE TERMS HEREOF BY: E AND THAT IT IS NON-CANCELABLE FOR THE INITIAL Brian Knute,Sales RENTAL PERIOD. Title: Accepted this 24th day of January 17 20 The undersigned individual personally guarantees all obligations and commitments of the Lessee in respect to this Lease. (Name) A CERTIFICATE OF INSURANCE NAMING LESSOR ADDITIONAL INSURED AND PROVIDING A WAIVER OF SUBROGATION IN FAVOR OF THE LESSOR IS REQUIRED i Re 9!74114 Lessee's Initial •, ? i f! O . w �ricanStateEquipment Co. ThReEquipment People OFFERING CONTRACTORS AND INDUSTRY QUALITYPRODUCTS SINCE 1957 January 24,2017 City of Oshkosh 215 Church Ave Oshkosh,WI 54901 Dear Todd, Thank you for this opportunity to be able to quote the Liebherr R946 excavator with the Stanley MXB458 hammer on your upcoming job.Here are the rental rates and the conditions. Equipment Week Month Liebherr R946 Excavator $2,600 $7,800 Stanley MXB458 Breaker $1,500 $4,500 Delivery R&J transport Fond. $600.00 for excavator and hammer NOTE: Point wear billed at$50.00 per inch. The Lessee is responsible for normal maintenance,hammer point wear and breakage. Replacement points will be charged on a pro-rated use basis. Wear charges for points are calculated to the nearest inch including the length lost due to sharpening. If welding or build-up is required upon return from rent the charges will be billed on a time&materials basis. • Daily rental rates are based on an 8-hour day. Weekly rental rates are based on a 40-hour week. Monthly rental rates are based on a 4-week period with a maximum of 176 hours allowed during the 4-week month. The Lessee will be billed for additional hours of use over the maximum allowed during the applicable rental period. (All equipment is subject to availability) Thank you, Brian Knute Sales Representative American State Equipment i I Page 1 of 1 EVIDENCE OF PROPERTY INSURANCE DATE IY ACORU" 01/225/25/20177 THIS EVIDENCE OF PROPERTY INSURANCE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE ADDITIONAL INTEREST NAMED BELOW.THIS EVIDENCE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND,EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS EVIDENCE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S),AUTHORIZED REPRESENTATIVE OR PRODUCER,AND THE ADDITIONAL INTEREST. AGENCY PHONE 1-877-945-7378 COMPANY A/C No Ext Willis of Wisconsin, Inc. Federal Insurance Company c/o 26 Century Blvd 15 Mountain View Rd P.O. Box 305191 Warren, NJ 07059 Nashville, TN 372305191 USA FRAC No:1-888-467-2378 ADDRESS: certificates@willis.com CODE: SUB CODE: '.. AGENCY CUSTOMER ID#: INSURED City of Oshkosh LOAN NUMBER POLICY NUMBER P O Box 1130 36005811 Oshkosh, WI 54902 EFFECTIVE DATE EXPIRATION DATE 05/01/2016 01/01/2018 CONTINUED UNTIL TERMINATED IF CHECKED THIS REPLACES PRIOR EVIDENCE DATED: PROPERTY INFORMATION LOCATIONMESCRIPTION THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT,TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS EVIDENCE OF PROPERTY INSURANCE MAY BE ISSUED OR MAY PERTAIN,THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS,EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. COVERAGE INFORMATION PERILS INSURED I I BASIC BROAD I X I SPECIAL COVERAGE/PERILS/FORMS AMOUNT OF INSURANCE DEDUCTIBLE Description of Property/Perils: Leased, Rented or Borrowed Equipment to or from others $500,000 $1,000 Special Causes of Loss, Replacement Cost Valuation Direct Physical Loss subject to the Policy Limitations/Exclusions REMARKS(including Special Conditions RE: Liebherr Excavator, Mdl R946, S/N#1150-36825 Replacement Value $450,000 and Stanley Breaker Mdl MXB458, S/N#45BllB05, Replacement Value $80,000. CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF,NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. ADDITIONAL INTEREST NAME AND ADDRESS ADDITIONAL INSURED LENDER'S LOSS PAYABLE X LOSS PAYEE MORTGAGEE LOAN# American State Equipment Company, Inc. 2055 South 108th Street AUTHORIZED REPRESENTATIVE P.O. Box 270287 Milwaukee, WI 53227K° 1 ,'� ACORD 27(2016/03) ©1993-2015 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD SR ID: 13984032 BATCH: Batch B: 280482 cERT: W1931929