Exhibit 10.42
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LEASE AGREEMENT
IKON Capital X.X. Xxx 0000 Xxxxx, XX 00000-0000 800-800-1060
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Lease Agreement Lease Number 254623 99.44
Thank you for choosing IKON! This lease agreement has been written in clear,
easy to understand language. Please take time to review the terms. If you have
any questions, please ask us. When we use "you" or "your", we are referring to
you, our customer. When we use "IKON", we are referring to IKON Office
Solutions, one of the largest distributors of the office solutions in the world.
When we use "we", "us", and "our", we are referring to to IKON Capital, owned by
IKON and created exclusively to support them. IKON is committed to providing you
quality service!
CUSTOMER INFORMATION
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Customer Location
Full Legal Name /s/ Magnum Digital Services
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Address 0000 Xxxxx Xx
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Coconut
City Creek County Broward State FL Zip 33073
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Customer Billing Contact: Xxx XxXxxxxx
Customer Billing Address (if different)
Full Legal Name Magnum Digital Services
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Address 0000 Xxxxx Xx
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Coconut
Xxxx Xxxxx Xxxxxx Xxxxxxx Xxxxx XX Xxx 00000
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Phone: (000) 000-0000 Fax: ( )
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EQUIPMENT DESCRIPTION
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Quantity Description, Make, Model & Serial Number Quantity Description, Make, Model & Serial Number
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1 Savin 55201 BVN1201UB920 1 Printcontroller/BU2R0G
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1 [ILLEGIBLE] Feeder/BVNF0112VROF 1 Copy Memory/BU2M03
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1 [ILLEGIBLE]/[ILLEGIBLE] 1 [ILLEGIBLE]/F32M12
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1 [ILLEGIBLE]/BU2C01 1 JetDirectx/BC2I18
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PAYMENT SCHEDULE
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Minimum Lease Term: Payment Due: Monthly Payment Advanced Payment: $381.60 Documentation Fee:
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Monthly ________ Without Sales, Use, and (Tax Included by Check# 09184 $ --
48 Other___________ Property Tax |X| First Month's Lease Payment
Step $ 360.00 ___ Other _____________________
(See Addendum)__
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ADDITIONAL PROVISIONS:
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Sales Tax Exempt |_| YES (Attach Exemption Certificate)
|_| NO
Customer Purchase Order #_____________ (Attach copy of PO)
TERMS AND CONDITIONS
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(1) Lease Agreement: You agree to lease from us the Equipment listed above.
THIS LEASE IS NON-CANCELABLE. You agree to all of the terms and conditions
contained in this Lease. You agree this Lease is for the minimum lease
term indicated above. You also agree that the Equipment will be used for
business only, and not for personal, family or household purposes. Our
acceptance of this Lease is indicated by our leasing manager's signature.
(See reverse side for more terms and conditions.)
AUTHORIZED SIGNER
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THE PERSON SIGNING THIS LEASE ON BEHALF OF THE CUSTOMER SPECIFICALLY
REPRESENTS THEY HAVE THE AUTHORITY TO DO SO.
|X| /s/ Xxxxxx X. [ILLEGIBLE]
Date 11/21/97
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Printed Name
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Title
DELIVERY AND ACCEPTANCE
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You certify that all the Equipment described above has been delivered and is
accepted. You acknowledge that such Equipment is in good condition and is
performing satisfactorily.
|X| /s/ Xxxxxx X. [ILLEGIBLE] Date
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Printed Name
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Title
2. Ownership of Equipment: We are the sole owner and title holder to the
Equipment.
3. Taxes and Filing Costs: In addition to lease payments, you agree to pay
all taxes, fees, and filing costs related to the use of the Equipment,
even if billed after the end of the Lease. We will file property tax
returns and xxxx you as soon as an invoice from the local jurisdiction is
received. If we are required to pay property tax, you agree to reimburse
us. If you are required to file and pay the taxes directly to the tax
collector, we will notify you in advance in writing.
4. UCC Filing: You authorize us or IKON to sign any documents in connection
with the Uniform Commercial Code filing on your behalf. You authorize us
to insert the serial number(s) of the Equipment in this Lease (including
any schedules) and in any filings.
5. Agency: You agree that neither IKON nor any of its employees are our
agents.
6. Liability and Insurance: You are responsible for any losses or injury
caused by the Equipment. You promise to keep the Equipment fully insured
against loss until the Lease is paid in full and maintain insurance that
protects us from liability for any damage or injury caused by the
Equipment or its use. You promise to provide us evidence of the insurance,
showing us as the loss payee and additional insured, upon request. If you
fail to provide such evidence, you authorize us to obtain coverage on your
behalf. We may file claims and endorse insurance checks on your behalf.
You must continue to make payments until the Lease is paid off by the
insurance proceeds.
7. Indemnity: We are not responsible for any losses or injuries caused by the
installation or use of the Equipment. You agree to reimburse us for and
defend us against any claims, for losses or injuries caused by the
Equipment, unless due to our gross negligence or willful misconduct.
8. Warranties: We pass to you, without recourse, the benefits of all
warranties made by IKON or the manufacturer to us as equipment owner. YOU
ARE LEASING THE EQUIPMENT FROM US "AS IS". WE MAKE NO WARRANTIES, EXPRESS
OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY OR FITNESS FOR USE OR
FOR A PARTICULAR PURPOSE. You agree we are not responsible for repairs,
service or defects.
9. Renewal: After the minimum term or any extension, this Lease will renew on
a month-to-month basis unless you notify us in writing at least 30 days
prior to the expiration of the new minimum term or extension. You must pay
any additional lease payments due until the Equipment is received in good
working order by IKON or its agents. So long as replacement equipment is
selected from IKON, shipping charges within the territory of the IKON
supplier from which you have selected the replacement equipment will be
borne by that IKON supplier.
10. Other Rights: You agree that our delay, or failure to exercise any rights,
does not prevent us from exercising them at a later time. If any part of
this Lease is found to be invalid, then it shall not invalidate any of the
other parts and the Lease shall be modified to the minimum extent as
permitted by law.
11. Entire Agreement: This Lease represents the entire agrement between us and
you. Neither of us will be bound by any amendment, waiver, or other chane
unless agreed to in writing and signed by both parties. Except for
identifying the goods, services, or software ordered, the price(s), and
the quantity(ies), the terms and conditions of the purchase order, or
other ordering documents you will not modify or effect this Lease, or have
any other legal effect whether issued or signed before, on, or after the
date of this Lease.
12. Lease Payments: Payments will begin on the agreement date or delivery
date, whichever is later. You agree to pay us the lease payment when due,
and if any payment is more than ten days late you agree to pay a fee of 5%
or $5 (whichever is greater) on the overdue amount. You also agree to pay
$25 for each check that the bank returns for insufficient funds or any
other reason. You agree to pay a one time documentation fee, if any, as it
appears on the front of this Lease.
13. Maintenance and Care of Our Equipment: You agree to install, use and
maintain the Equipment in accordance with IKON specifications and use only
those supplies approved by IKON which meet manufacturer specifications.
14. Location of Equipment: You will keep the Equipment at the location
specified in this Lease. You must obtain our written permission, which
will not be unreasonably withheld to move the Equipment. With reasonable
notice, you will allow us or our agents to inspect the Equipment.
15. Assignment: YOU HAVE NO RIGHT TO SELL, TRANSFER, ENCUMBER, SUBLET OR
ASSIGN THE EQUIPMENT OR THIS LEASE.
16. Default: If you do not pay any amount due when it is due, you are in
default. If you default, we can demand that you pay the remaining balance
of the Lease and return the Equipment to us at your expense. We may
repossess the Equipment. You waive any rights you may have to notice
before we seize any of the Equipment and waive any requirement that we
post a bond in connection with any such seizure or repossession. In
addition, if you break any promise in the Agreement we can use any
remedies available to us under the Uniform Commercial Code or any other
applicable law. You promise to pay reasonable attorney fees and any cost
associated with any action to enforce this Lease. This action will not
void your responsibility to maintain and care for the Equipment, nor will
IKON be liable for any action taken on our behalf.
17. Business Agreement and Choice of Law: YOU AGREE THAT THIS AGREEMENT WILL
BE GOVERNED UNDER THE APPLICABLE LAW FOR THE STATE IN WHICH WE HAVE OUR
HOME OFFICE. YOU ALSO AGREE TO SUBMIT TO THE JURISDICTION OF THE COURTS OF
THE STATE OF OUR HOME OFFICE OR THE COURTS OF THE STATE WHERE THE IKON
SUPPLIER IS LOCATED TO RESOLVE ANY ACTION UNDER THIS LEASE. WE BOTH WAIVE
THE RIGHT TO A TRIAL BY JURY IN THE EVENT OF A LAWSUIT.
/s/ [ILLEGIBLE] 12/30/97
ACCEPTED BY IKON CAPITAL LEASING MANAGER
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X Date
/s/ Xxxxx X. Xxxxxx Dec 31 1997
