1
EXHIBIT 10.18
Leasing Company (Lessor): PLAIN LANGUAGE EQUIPMENT LEASE (UNDER $25,000)
-------------------------------
Advanta Business Services Corp.
0000 Xxxxxx Xxx Xxxx
Xxxxxxxx, XX 00000
-------------------------------
NOTICE: THIS IS A NON-CANCELABLE, BINDING CONTRACT. THIS CONTRACT WAS WRITTEN
IN PLAIN LANGUAGE FOR YOUR BENEFIT. IT CONTAINS IMPORTANT TERMS AND CONDITIONS
AND HAS LEGAL AND FINANCIAL CONSEQUENCES TO YOU. PLEASE READ IT CAREFULLY: FEEL
FREE TO ASK QUESTIONS BEFORE SIGNING.
------------------------------------------------------------------------------------------------------------------------------------
[ILLEGIBLE] (Attach separate Schedule "A" if necessary)
------------------------------------------------------------------------------------------------------------------------------------
See Attached Schedule "A"
VENDOR'S NAME
------------------------------------------------------------------------------------------------------------------------------------
[ILLEGIBLE] corporate name.)
------------------------------------------------------------------------------------------------------------------------------------
Company Name Telephone No.
Interactive Telesis, Inc. 000-000-0000
------------------------------------------------------------------------------------------------------------------------------------
Billing Address Equipment Location (if other than Billing Address)
000 Xxxxxxxxx Xxxx. #000
Xxxxxxxxx, XX
------------------------------------------------------------------------------------------------------------------------------------
[ILLEGIBLE]
------------------------------------------------------------------------------------------------------------------------------------
TERM OF TOTAL NUMBER OF AMOUNT OF EACH DUE AT SIGNING OF LEASE END OF LEASE PURCHASE OPTION
LEASE RENTAL PAYMENTS PAYMENT [ ] Advance Payment $ __________ [ ] Fair Market Value Purchase Option
[X] Security Deposit $ 1,589.86 [ ] Fixed Price Purchase Option of $1.00
36 36 $794.93 [ ] Other $ __________ [X] Fixed Price Purchase Option of 10% of
(IN MONTHS) (Plus Applicable [ ] Total Payment $ __________ Total Cash Price
Taxes)
------------------------------------------------------------------------------------------------------------------------------------
TERMS AND CONDITIONS
1. LEASE CHARGES. You ("Lessee") agree to lease from us ("Lessor") the above
equipment for the periodic payment amount and for the full term stated above.
That amount is based on the estimated cost of all equipment and shipping
charges, and you agree that it may be adjusted upward if the actual cost
exceeds this estimate. We may charge you a partial payment for the time between
the delivery date and the due date for the first payment. If any payment is
late, we may charge you a late fee of $25.00 or 15% of the amount that is late,
whichever is greater. You agree to return the equipment to us at your cost at
the end of the lease unless we have given you a purchase option above and you
exercise the option at that time. If you don't exercise the option or return
the equipment, this lease will continue for the same terms on a monthly basis.
2. OTHER IMPORTANT TERMS. THIS LEASE IS AN UNCONDITIONAL OBLIGATION AND CANNOT
BE CANCELED BY YOU FOR ANY REASON, INCLUDING EQUIPMENT FAILURE, LOSS OR DAMAGE.
You may not revoke acceptance of the equipment. You, not we, selected the
equipment and the vendor. We are not responsible for equipment failure or the
vendor's acts. You are leasing the equipment "as is", and we disclaim all
warranties, express or implied, including compliance with all Year 2000 issues.
We are not responsible for service or repairs. Any warranties the vendor gave
to us, if any, we hereby assign (pass) to you. You may contact the vendor for a
statement of such warranties, if any. You certify to us that the equipment will
be used by you solely for business purposes and not for personal or household
purposes.
3. TITLE. We will have title to the equipment during this lease. You agree this
is a "true lease", not a sale or a loan. However, if this lease is determined
not to be a "true lease," you hereby grant us a security interest in the
equipment. You hereby give us power of attorney to sign and file financing
statements in order to perfect this security interest in our favor. You also
agree to pay our filing and other administrative and processing fees. You agree
this is a "finance lease" under Article 2A of the Uniform Commercial Code.
4. LOSS; DAMAGE; INSURANCE. You are responsible for and accept the risk of loss
or damage to the equipment. You agree to keep the equipment insured against all
risks of loss in an amount at least equal to the replacement cost, and you will
list us as loss payee and give us written proof of this insurance. If you do
not give us such proof, we may (but will not be obligated to) obtain other
insurance and charge you a fee for it, or we may charge you a monthly risk
charge equal to 0.25% of the original equipment cost.
5. TAXES AND OTHER FEES; INDEMNIFICATION. You agree to reimburse us for all
taxes (such as sales, use and property taxes) and charges in connection with
the ownership and use of the equipment. Unless we have given you a purchase
option for $1.00 at the end of the lease, you agree that we are entitled to any
and all tax benefits (such as depreciation and tax credits), and you will not
do anything inconsistent with this understanding. If you do, you will indemnify
(reimburse) us for our resulting losses. You also agree to indemnify us for all
losses and liabilities arising out of the ownership or your use of the
equipment. These promises will continue after this lease ends.
6. DEFAULT. If you fail to pay us as agreed, we will have the right to (i) xxx
you for all past due payments and all payments to become due in the future for
the unexpired term, plus the residual value we have placed on the equipment and
other charges you owe us, and/or (ii) repossess the equipment. You will also
pay for our reasonable collection and legal costs. This lease is governed by
New Jersey law, and you agree to be subject to suit in New Jersey.
7. ASSIGNMENT. You may not assign this lease or sublease the equipment to
anyone else. You agree that we may sell or assign any of our interests without
notice to you. In that event, the assignee will have such rights as we assign
to them but none of our obligations (we will keep those obligations), and the
rights of the assignee will not be subject to any claims, defenses or set-offs
that you may have against us or another person.
8. MISCELLANEOUS. You authorize us to share credit and other information about
you and your company with our affiliates unless you write to us. For your
convenience, we may accept a facsimile copy of this lease with facsimile
signatures. You agree a facsimile copy will be treated as an original and will
be admissible as evidence of this lease.
------------------------------------------------------------------------------------------------------------------------------------
X AUTHORIZED SIGNATURE /s/ XXXXXX XXXXXXX Date 3-30-99 Witness /s/ [SIGNATURE ILLEGIBLE]
------------------------------------------------------------------------------------------------------------------------------------
Print Name and Title Xxxxxx Xxxxxxx, President
------------------------------------------------------------------------------------------------------------------------------------
[ILLEGIBLE]
------------------------------------------------------------------------------------------------------------------------------------
I/WE INDIVIDUALLY, PERSONALLY, ABSOLUTELY AND UNCONDITIONALLY GUARANTY ALL PAYMENTS AND OTHER OBLIGATIONS OWED TO THE LEASING
COMPANY UNDER THIS LEASE AND THIS GUARANTY. I/WE AGREE THAT THE LEASING COMPANY MAY PROCEED DIRECTLY AGAINST ME/US WITHOUT FIRST
PROCEEDING AGAINST THE LEASING CUSTOMER OR THE EQUIPMENT. I/WE CONSENT TO PERSONAL JURISDICTION IN THE NEW JERSEY COURTS.
------------------------------------------------------------------------------------------------------------------------------------
X SIGNATURE (INDIVIDUALLY: NO TITLES) /s/ XXXXXX XXXXXXX Date 3-30-99 SIGNATURE (INDIVIDUALLY: NO TITLES) Date
------------------------------------------------------------------------------------------------------------------------------------
Xxxxxx Xxxxxxx
0000 Xxxxxxxx Xxxx, Xxxxxxxxx, XX 00000
GUARANTOR #1 Name and Home Address (Please Print) GUARANTOR #2 Name and Home Address (Please Print)
------------------------------------------------------------------------------------------------------------------------------------
THE LESSEE HEREBY CERTIFIES THAT ALL EQUIPMENT REFERRED TO ABOVE HAS BEEN DELIVERED, IS FULLY INSTALLED AND IT IS IN GOOD OPERATING
ORDER. LESSEE UNCONDITIONALLY ACCEPTS THE EQUIPMENT AND REQUESTS THAT LEASING COMPANY SIGN THIS LEASE AND PAY THE EQUIPMENT VENDOR.
X 3/30/99 X /s/ XXXXXX XXXXXXX X 3-30-99
--------------------- --------------------------------------- ------------------------
DATE OF DELIVERY AUTHORIZED SIGNATURE TITLE
------------------------------------------------------------------------------------------------------------------------------------
[ILLEGIBLE]
------------------------------------------------------------------------------------------------------------------------------------
By: Title: Date: Lease #:
------------------------------------------------------------------------------------------------------------------------------------
2
SCHEDULE "A"
EQUIPMENT SCHEDULE
DELL
XXX XXXX XXX
XXXXX XXXX, XX 00000
(1) Dell Dimension V350 Pentium II Processor
(1) Mouse
(1) Keyboard
(0) 000XX XXXXX
(1) 3 Com Us Robotics V.90 PCI Telephony Winmodem
(1) 40X Max Variable CD ROM
(1) Dell 800F Series 15" Model 828FI
(1) 8.4GB Ultra ATA Hard Drive 5400RPM
(1) 3.5 1.44 MB Floppy Drive
(1) ConnectDirect 3.0 CD
(1) McAfee Virus Scan
(1) Windows 98
(1) Intel 10/100 Integrated PCI Ethernet Controller
(1) Inspiron 3500 A266T Xxxxx 13.3" XGA Active Matrix Display
(1) Nylon Carrying Case
(1) Port Replicator Inspiron 3500
(1) Dell Inspiron 3500 Setup Video Packaged with System
(1) 32MB 1DIMM 64MB 1 Dimm 96 Total
(1) 10/24X Internal CD Rom Inspiron 3500
(1) 3.2GB Hard Drive 9.5MM
(1) Connect Direct 2.0
(1) Windows 98
(1) 56K Modem/Lan 10/100 Combo Card
(1) Office
(1) Dell Power Edge 2300 Base 350 Mhz Processor with 512 Cache
(1) Logitec System Mouse with Driver Disks
(1) External SCSI Device Cable/Port
(1) Keyboard
(1) Dell PowerEdge Processor Terminator Card
(1) 512MB RAM 4 Dimms
(1) 1/6 Hot Pluggable Backplane
(1) 14/32x SCSI CD-ROM
(1) Seagate Bup Exec v7.0
(1) Raid 0 Xxxx Xxxxx Config
(1) 1.44MB Floppy Drive
(1) 12/192GB DDS-3 Auto Loader
(1) PERC2/SC Single Channel RAID Card16MB Cache
(6) 4.5 GB LVD SCSI Hard Drive
(1) Autoloader Software Option and Single Server Backup Exec
(1) Intel Pro 100 Plus Ethernet Network Card
(1) Microsoft NTS 4.0
Page 1 of 2
3
Digitape Systems Inc.
00000 Xxxxxxxxx Xxxxxx
Xxxxxxxxxx, XX 00000
(1) ODI/T490E/103246-001/08/EXT SCSI Tape Drive
(1) Nova/Novaexchange 708013161014/Cable Tape Software
Lessee hereby certifies that the description of personal property set forth
above constitutes an accurate account of the Equipment, as such is defined
in the Lease Rental Agreement of which this Schedule is a part.
Lessee: Interactive Telesis, Inc. Lessor: Advanta Business Services Corp.
By: X /s/ XXXXXX XXXXXXX By:
---------------------------- -----------------------------
Xxxxxx Xxxxxxx
Title: President Title:
-----------------------------
Date: X 3/30/99 Date:
-----------------------------
Page 2 of 2
