Lease No: 7750
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Lease Date: November 3, 1998
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Schedule No.: 1
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Schedule Date: November 3, 1998
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ASSUMPTION AGREEMENT
This Assumption Agreement is made between ZIONS CREDIT CORPORATION
("Lessor"), VDC Communications, Inc. and VDC Telecommunications, Inc. as
Co-Lessees ("Lessee"), and Wang Communications, Inc. dba West Comm ("Assignee"),
and is ALSO considered as an amendment to Equipment Schedule No. 1 to the Master
Lease No. 7750, entered into by Lessor and Lessee on November 3, 1998.
WHEREAS, Lessee wishes to assign its interest in the Lease to Assignee,
in consideration of the terms thereof, the parties mutually agree as follows:
1. Lessee hereby assigns and transfers to Assignee all its right,
title, and interest as Lessee in the above described Lease.
2. Assignee hereby assumes all of the obligations of Lessee under
said Lease and agrees to make payments of rental thereunder
when due and to perform promptly all of the covenants,
conditions, and stipulations contained therein.
3. This assignment shall relieve Lessee from all of its
obligations under said Lease.
4. Assignee hereby assumes the following payment schedule
beginning with the January 23, 2000 payment:
Due Date No. of Payments Rent Use Tax Total
-------- --------------- ---- ------- -----
23rd 30@ $16,766.10 $1,342.09 $18,118.19
Notices shall be sent to Assignee addressed as follows:
Wang Communications, Inc.
0000 X. Xxxxxx Xxxxxx, Xxxxx 000
Xxxxxx, XX 00000
ZIONS CREDIT CORPORATION
Lessor
By: /s/ Xxxxxx Xxxxxx
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Xxxxxx Xxxxxx
Title: Vice President
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Date: December 20, 1999
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Wang Communications, Inc. dba West Comm. VDC Communications, Inc. and VDC
Assignee Telecommunications, Inc. as Co-Lessees
By: /s/ Xxxx Xxxx Lessee
--------------------------- By: /s/ Xxxxxxxxx X. Xxxxx
Xxxx Xxxx -----------------------------------
Xxxxxxxxx X. Xxxxx
Title: President & C.E.O.
------------------------ Title: Chairman & C.E.O./President
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Date: December 13, 1999
------------------------- Date: December 10, 1999
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IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
corporate seal of this day of , 19 .
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Secretary
XXXXX XX XXXXXXXX
XXXX & XXXXXX XX XXXXXX
The foregoing was acknowledged before me this 13th day of December, 1999, by
Xxxx Xxxx. My commission expires November 18, 2000.
/s/ Xxxxxx Xxxx Xxxxxxxx
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Notary Public
