PC DOCS #56962 EQUIPMENT LEASE FORMS (REV. 6/21/97)
SUPPLEMENTARY SCHEDULE NO. _______ SUPPLEMENTARY SCHEDULE NO. ______ TO MASTER EQUIPMENT LEASE BETWEEN LASALLE CHICAGO LEASING CORPORATION AND GOLDBERG, KOHN, BELL, BLACK, ROSENBLOOM & MORITZ, LTD., DATED MARCH 30, 1995
1.
Lease Term:
The Interim Term of this Lease begins on the date of Lessor's first investment in the Equipment and ends at the end of the day immediately preceding the Commencement Date. The Base Term of this Lease begins on the Lease Facility Expiration Date (the "Commencement Date") and ends on the fifth (5th) anniversary of the Commencement Date.
2.
Rent: (a) Base Term Rent: As Rent for the Equipment, Lessee shall pay to Lessor _____________________________ Dollars ($_____________) payable in sixty (60) successive monthly installments of _____________________ Dollars ($______________) each beginning on ___________________, 1995 (the "First Payment Date"), and continuing on the same day of each month thereafter during the term of the Lease. Interim Rent: An amount equal to the daily rate equivalent of 1% in excess of the Prime Rate per dollar of Lessor's Investment (on the basis of actual days lapsed in a year of 360 days). The Prime Rate shall be the prime or base rate of interest announced from time to time by LaSalle National Bank, Chicago, Illinois.
(b)
3.
Location of Equipment: 55 East Monroe Street Chicago, Cook County, Illinois
4.
Lessee's Address: 55 East Monroe Street, Suite 3700 Chicago, Illinois 60603
5.
Equipment Leased: ITEM NO. QUANTITY DESCRIPTION COST
See Schedule A-1 attached
6.
Delivery of Equipment:
Lessee agrees that the Equipment shall be delivered to and accepted by Lessee on or before the Commencement Date. In the event, for any reason whatsoever, that on or before that date, all of said Equipment has not been delivered and accepted by Lessee or all of the conditions of the Lease have not been satisfied, Lessee shall purchase from Lessor all of Lessor's right, title and interest in and to all but not less than all of the Equipment and in and to the aggregate total amount which Lessor has paid therefor, plus all Interim Rent to and including the date of such payment and plus all other sums due and owing under the Lease and Lessee shall indemnify and save Lessor harmless from any liability under any purchase order for the Equipment or any other charges, expenses or damages arising from or associated with the Equipment or Lessor's actions in connection therewith. Any sale of the Equipment by Lessor to Lessee pursuant hereto shall be on an AS-IS and WHERE-IS basis, without warranty, express or implied, with respect to any matter whatsoever except that there are not liens or encumbrances on the Equipment created by Lessor. The deadline date stated in this paragraph may be extended at the sole option of Lessor upon showing of good cause for such extension by Lessee.
7.
Purchase Option:
Provided that no default exists under the Lease, Lessee shall have an option to purchase, upon the expiration of the lease term all, but not less than all, of the Equipment for the purchase option price equal to the fair market value of the Equipment as reasonably determined by the Lessor, upon the following terms and conditions: Lessee shall exercise this option by giving Lessor written notice of its election to purchase not less than sixty (60) days nor more than ninety (90) days prior to the expiration of the lease term. Such purchase or sale shall be on an AS-IS, WHERE-IS basis, without warranty. Lessee shall, upon the expiration of the lease term, pay to Lessor in cash the purchase price, plus any applicable sales tax. Notwithstanding any election of Lessee to purchase or return the Equipment, until such is done all provisions of the Lease shall continue in full force and effect until such passage of ownership of the Equipment upon the purchase of or the return of the Equipment to Lessee.
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8.
Definitions: Capitalized terms not defined in this schedule shall have the meanings given in the
Lease.
LESSEE: GOLDBERG, KOHN, BELL, BLACK, ROSENBLOOM & MORITZ, LTD.
By: Title:
LESSOR: LASALLE CHICAGO LEASING CORPORATION
By: Title:
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