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1999-043
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1999-043
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Last modified
7/12/2023 8:46:51 AM
Creation date
7/12/2023 8:46:47 AM
Metadata
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
02/09/1999
Control Number
1999-043
Entity Name
Chemical Services Company
Subject
Clortec Lease-Purchase Agreement for Clortec MC-600 hypochlorite generating system/
Utility Chlorination System Improvements.
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5. ASSIGNMENT OR SUBLEASE <br />Lessee will not assign this lease or sublet the leased property unless the written consent <br />of lessor to such assignment or sublease is first obtained. <br />6. DEFAULT <br />If lessee shall be in default of any of the rental payments, when the payments shall <br />become due and payable as provided in this agreement, or shall remove or attempt to <br />remove the leased property from South WWTP without first obtaining the written <br />consent of lessor, lessor shall, at his or her option, terminate this lease and lessees right <br />to possession of the leased property, and lessor shall then without demand on or notice <br />to lessee take possession of such leased property. <br />7. INSPECTION BY LESSOR <br />Lessor shall at all times during lessees business hours have the right to enter on the <br />premises where the leased property is located for the purpose of inspecting the <br />property. <br />8. RETURN OF PROPERTY <br />On expiration or earlier termination of this lease, lessee shall return, the leased property <br />to lessor in good repair, ordinary wear and tear resulting from proper use of the <br />property excepted. The lessor will remove property at his own cost if removal is <br />required during term of the lease. <br />9. PURCHASE AGREMENT <br />Upon lessee's complete satisfaction with equipment operation throughout the twelve <br />month lease period, the lessee agrees to purchase the CLORTEC system. At the end of <br />the lease period all sums paid as rent will be applied towards the purchase price. The <br />lessee may chose to purchase the equipment prior to the end of the lease period. If this <br />option is elected the lessee will pay the difference between the purchase price and the <br />rent already paid. In either case , upon receipt of the balance of the purchase price by <br />the lessor, title for the CLORTEC system will be transferred to the lessee. <br />The purchase price herein is the sum of One Hundred Ninety Seven Thousand Dollars, <br />($197,000.00). <br />r),...n I <br />
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