Exhibit 10.160
Equipment Schedule No. 2
Dated as of 9/20/00
To Master Lease Agreement dated June 20, 2000
Acceptance Date 9-21-00
Commencement Date 10-21-00
Equipment Schedule to MASTER LEASE AGREEMENT dated as of June 20, 2000 between
THE CIT GROUP/EQUIPMENT FINANCING, INC., as Lessor
and Ready Mix, Inc. as Lessee
This Equipment Schedule Incorporates the terms and conditions of the
above-referenced Master Lease Agreement.
This is Originally Executed Copy No. 1 of 1 originally executed copies. Only
transfer of possession by Lessor of Originally Executed Copy No. 1 shall be
effective for purposes of perfecting an interest in this Schedule by possession.
1. EQUIPMENT DESCRIPTION:
Quantity Manufacturer Model/Feature Serial Number Description Cost Per Unit
-------- ------------ ------------- ------------- ----------- -------------
1 Haltec M-12 0000-00000 00 Yard Mobile 543,313.00
Batch with Surge
Xxxxxx
And all attachments, replacements, substitutions, additions, and all the
proceeds thereof.
2. LESSOR'S AGGREGATE COST OF EQUIPMENT. $543,313.00
3. EQUIPMENT LOCATION. 00000 X. Xxxxxxx Xx., Xxxxx Xxxxx, XX 00000
4. ACCEPTANCE: Lessee confirms that (a) the Equipment described herein has
been delivered to it in good working order and condition, and has been
inspected and accepted by Lessee as of the Acceptance Date set forth above,
(b) no Event of Default exists, (c) No Event of Default will be caused by
the execution of this Schedule, (d) all Lessee's representations and
warranties are true and correct, and (e) the terms and provisions of the
Master Lease are hereby incorporated by reference and reaffirmed.
5. LEASE TERM.
a. Interim Lease Term. The Interim term of the lease of the Equipment
shall commence on the Acceptance Date and shall continue until the
commencement of the Primary Lease Term defined below.
b. Primary Lease Term. The primary term of the lease of Equipment shall
commence on the Commencement Date and shall continue for a term of 72
months from such Commencement Date.
6. RENT PAYMENTS.
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a. Interim Rent. The rent for each item of Equipment during the Interim
Lease Term shall be an amount equal to 1/30th of the Primary Rent (defined
below) multiplied by the number of days from and including the Acceptance
Date to the Commencement Date which amount shall be payable on the
Commencement Date.
b. Primary Rent. The rent for each item of Equipment during the Primary
Lease Term shall consist of 72 payments of $8,797.78, payable monthly
commencing on the Commencement Date and a like sum on the same day of each
month thereafter.
7. STIPULATED LOSS VALUES. The Stipulated Loss Values, expressed as a
percentage of Lessor's cost of the Equipment, are set forth in Exhibit A
attached hereto. The Stipulated Loss Value with respect to any item of
Equipment as of any rent payment date shall be an amount determined by
multiplying Lessor's cost of the item by the applicable percentage set
forth on Exhibit A. Any Stipulated Loss Value determined as of a date after
the final rent payment date will be determined by using the percentage for
the final rent payment date.
8. RETURN, OPERATION, MAINTENANCE, ADDITIONS. The return, operation,
maintenance and additions provisions applicable to the Equipment are set
forth in Rider A attached hereto.
9. DEPRECIATION TAX ASSUMPTIONS. Equipment has a recovery period of 5 years.
10. NONREFUNDABLE PROCESSING/ORIGINATION FEE payable to The CIT Group/Equipment
Financing, Inc.
$0
11. ADDITIONAL PROVISIONS:
See Rider "B" consisting of one page attached hereto and made a part hereof.
IN WITNESS WHEREOF, this Equipment Schedule has been signed as of the date set
forth above.
Lessee:
Ready Mix, Inc.
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By /s/ XXXXXXX X. XXXXXX Title Vice President
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XXXXXXX X. XXXXXX
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Print or Type Name
Lessor:
THE CIT GROUP/EQUIPMENT FINANCING, INC.
By /s/ XXXXXXX XXXXXX Title Agent
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XXXXXXX XXXXXX
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Print or Type Name
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