Schedule of Indebtedness and Collateral No. 5 to Master Security Agreement between Ready Mix, Inc. and The CIT Group/Equipment Financing, Inc.
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This agreement is between Ready Mix, Inc. (the Debtor) and The CIT Group/Equipment Financing, Inc. (the Secured Party). It lists specific equipment as collateral for a loan of $26,030.88, to be repaid in 36 monthly installments. The agreement includes prepayment penalties if the loan is paid off early and details the equipment covered. The terms and conditions of a previously signed Master Security Agreement apply. The collateral is located at a specified address in Phoenix, Arizona.
EX-10.241 5 p68116exv10w241.txt EX-10.241 EXHIBIT 10.241 SCHEDULE NO. 5 Schedule of Indebtedness and Collateral To Master Security Agreement dated April 5, 2000, between the undersigned Secured Party and Debtor. This Schedule of Indebtedness and Collateral incorporates the terms and conditions of the above-referenced Master Security Agreement. This is Originally Executed Copy No. 1 of 1 originally executed copies. Only transfer of possession by Secured Party of Originally Executed Copy No. 1 shall be effective for purposes of perfecting an interest in this Schedule by possession. The equipment listed on this Schedule will be located at: 4411 South 40th Street Phoenix AZ 85040 - ------------------------------------------------------------------------------- Address City State Zip Code Debtor grants to Secured Party a security interest in the property described below, along with all present and future attachments and accessories thereto and replacements and proceeds thereof, including amounts payable under any insurance policy, all hereinafter referred to collectively as "Collateral". Collateral Description (Describe Collateral fully including make, kind of unit, model and serial numbers and any other pertinent information.) See Schedule "A" Consisting of Two (2) pages attached hereto and made a part hereof. 2095A (8/00) Schedule of Indebtedness and Collateral - Precomputed Interest: Fixed Rate Attach to Master Security Agreement 2094. Page 1 of 2 Debtor promises to pay Secured Party the total sum of $26,030.88 which represents principal and interest precomputed over the term hereof, payable in 36 (total number) combined principal and interest payments of $723.08 each commencing on ___________________ and a like sum on a like date each month thereafter until fully paid, provided however, that the final payment shall be in the amount of the unpaid balance and interest. Payment shall be made at the address of Secured Party shown on the Master Security Agreement or such other place as Secured Party may designate from time to time. SPECIAL PROVISIONS. If this Schedule of Indebtedness is prepaid prior to the date provided for repayment in the Schedule of Indebtedness, the Debtor agrees to pay the following fees: During the first loan year; No Prepayment Allowed; during the second loan year -- 5% of the then unpaid balance; during the third loan year - -- 4% of the then unpaid balance. Accepted ____________________________ Secured Party: THE CIT GROUP/EQUIPMENT FINANCING, INC. By ___________________________ Title ______________________________ Executed on 6/30/03 Debtor: Ready Mix, Inc. ___________________________________________________________________ Name of individual, corporation or partnership By Clint Tryon Title Sec/Treas. 2095A (8/00) Schedule of Indebtedness and Collateral - Precomputed Interest: Fixed Rate Attach to Master Security Agreement 2094. Page 2 of 2 SCHEDULE "A" This Schedule "A" attached to and made a part of Schedule of Indebtedness and Collateral No. 5 dated 6-30-03 to Master Security Agreement dated April 5, 2000, between Ready Mix, Inc., as Debtor and The CIT Group/Equipment Financing, Inc., as Secured Party.
And all additions, substitutions, attachments, replacements and accessions thereof, plus the proceeds of the foregoing. Debtor: Ready Mix, Inc. By /s/ Clint Tryon Title Sec/Treas. --------------------------- ------------------------- Secured Party: The CIT Group/Equipment Financing, Inc. By Title --------------------------- -------------------------
