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EQUIPMENT LEASE AGREEMENT <br />Lease No: <br />Lease Date: <br />Schedule No: <br />Schedule Date: <br />This Equipment Lease Agreement dated as of January 24, 2011, and entered into between Zions <br />Credit Corporation, Salt Lake City, UT 84101 ( "Lessor "), and City of Louisville, Colorado, a home rule <br />municipal corporation ( "Lessee "). <br />WITNESSETH: <br />0013070 <br />January 24, 2011 <br />0013070001 <br />January 24, 2011 <br />WHEREAS, Lessor desires to lease the Equipment, as hereinafter defined, to Lessee and Lessee <br />desires to lease the Equipment from Lessor subject to the terms and conditions of and for the purpose set <br />forth in this Lease; and <br />WHEREAS, Lessee is authorized under the Constitution and laws of the State of Colorado to enter <br />into this Equipment Lease Agreement, with an option to purchase said Equipment, for the purposes set forth <br />herein. <br />NOW, THEREFORE, for and in consideration of the premises hereinafter contained, the parties <br />hereby agree as follows: <br />ARTICLE I <br />DEFINITIONS <br />The following terms will have the meanings indicated below unless the context clearly requires <br />otherwise: • <br />"Commencement Date" is the date when the term of this Lease begins and Lessee's obligation to pay <br />rent accrues, which date shall be the dated date of this Lease. <br />"Equipment" means the property described in Schedule A, and all substitutions, modifications, <br />additions and improvements thereto, which is the subject of this Lease. <br />"Fiscal Year" means the Lessee's Fiscal Year, which begins on January 1 and ends on December 31 <br />of each year. <br />"Fiscal Year Spending" means all Lessee's expenditures and reserve increases except, as to both, <br />those for refunds made in the current or next Fiscal Year or those from gifts, federal funds, collections for <br />another government, pension contributions by employees and pension fund eamings, reserve transfers or <br />expenditures, damage awards, or property sales. <br />"Lease" means this Equipment Lease Agreement, including the schedules attached hereto. <br />"Lease Term" means the Original Term and any Renewal Term thereof. <br />1 <br />