EASE URCHASE AGREEMENT - Payson

1 LEASE PURCHASE AGREEMENT This equipment lease (the Lease ) dated as of August 25, 2011, by and between Zions First National Bank, One South Main Street, Salt Lake City, Utah 84111 ( Lessor ), and Payson City, Utah ( Lessee ) a body corporate and politic existing under the laws of the State of Utah. This Lease includes all Exhibits hereto, which are hereby specifically incorporated herein by reference and made a part hereof. Now therefore, for and in consideration of the mutual promises, covenants and agreements hereinafter set forth, the parties hereto agree as follows: ARTICLE I Lease Of Equipment Section AGREEMENT to Lease. Lessor hereby demises, leases, and lets to Lessee and Lessee rents, leases and hires from Lessor, the Equipment (as hereinafter defined), to have and to hold for the term of this Lease; provided, however, that the obligation of Lessor to lease any item of the Equipment and to make payment to the Vendor therefor is subject to the condition precedent that Lessee shall provide the following at its cost, in form and substance satisfactory to Lessor: (i) Evidence satisfactory to Lessor as to due compliance with the insurance provisions of Section hereof; (ii) Invoice of the Vendor of such item of Equipment; and (iii) Delivery And Acceptance Certificate in the form attached hereto as Exhibi

1 LEASE PURCHASE AGREEMENT This equipment lease (the “Lease”) dated as of August 25, 2011, by and between Zions First National Bank, One South Main Street, Salt Lake City, Utah 84111 (“Lessor”), and Payson City,

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  Agreement, Ease, Ease urchase agreement, Urchase, Payson

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