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EQUIPMENT LEASE

Equipment Lease Agreement

EQUIPMENT LEASE
 | Document Parties: INSITUFORM TECHNOLOGIES I | A-Y-K-E Partnership | Affholder, Inc. You are currently viewing:
This Equipment Lease Agreement involves

INSITUFORM TECHNOLOGIES I | A-Y-K-E Partnership | Affholder, Inc.

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Title: EQUIPMENT LEASE
Governing Law: Missouri     Date: 3/15/2004
Industry: Construction Services     Sector: Capital Goods

EQUIPMENT LEASE
, Parties: insituform technologies i , a-y-k-e partnership , affholder  inc.
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                                                                   EXHIBIT 10.20

 

                                 EQUIPMENT LEASE

 

         THIS LEASE executed as of February 1, 2004, between A-Y-K-E

Partnership, a partnership (hereafter referred to as "LESSOR"), and Affholder,

Inc., a Missouri corporation (hereinafter referred to as "LESSEE").

 

         1. LESSOR leases to LESSEE, and LESSEE leases from LESSOR, one Lovat

M-142 Tunnel Boring Machine, Series No. 6100.

 

         2. The term of this Lease shall begin February 1, 2004 and shall end

December 3l, 2004. If the leased property is retained by LESSEE after April 30,

2004 without the consent of LESSOR, then the liquidated damages shall be

$25,000.00 plus $5050.00 per day.

 

         3. The Leased property shall be used solely for the installation of

152" tunnel on the Evansville, Indiana.

 

         4. LESSOR will be paid a lump sum of $100,000.00

 

         5. LESSEE may not make alterations, additions or improvements to the

leased property, without prior written notification to and approval by LESSOR.

All such additions to and improvements shall immediately become the property of

the LESSOR and subject to the terms of this Lease.

 

         6. LESSEE, at its own cost and expense, shall keep the leased property

in good repair, condition and working order, and shall not subject the leased

property to careless or needlessly rough usage.

 

         7. LESSOR shall at all times during business hours have the right to

enter upon the premises where the leased property may be located for the purpose

of inspecting it or observing its use.

 

         8. The leased property shall be delivered to LESSEE at Evansville,

Indiana on or before February 1, 2004. LESSEE shall inspect the leased property

before the commencement of the Lease. Unless LESSEE gives written notice to the

LESSOR within five (5) days after first test use of the leased property

specifying any defect in or other objec


 
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