EXHIBIT 10.97
SETTLED FOR?
New Used For Office
Yes No X X J 908 801 262-7441 14May99 Use Only P01 880171959
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SELLER'S NAME & ADDRESS
SCOTT MACHINERY COMPANY 4055 SOUTH 500 WEST SALT LAKE CIT UT 84123
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BORROWER'S (DEBTOR'S) NAME (Last Name First) BORROWER'S (DEBTOR'S) NAME (Last Name First)
& MAILING ADDRESS (including County & Zip) & MAILING ADDRESS (including Zip)
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MEADOW VALLEY CONTRACTORS, INC.
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P.O. BOX 60726
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PHOENIX MARIC AZ 85082
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BORROWER'S (DEBTOR'S) PHONE NO. BORROWER (DEBTOR) RESIDES BORROWER (DEBTOR) AGREES TO PLACE OF FILING
IN (Country, State) KEEP GOODS IN (Co./St.) (Town & State)
602 437-5400 MARIC AZ WEAVER UT SEC. OF STATE
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BORROWER'S SOC. SEC. NO. (First Signer) or TYPE OF BUSINESS NAME & TITLE OF SIGNING OFFICER (If Corporation or LLC)
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FED. TAX ID. NO. Prop. Partner Corp. LLC
###-##-#### X BRADLEY E. LARSON, * PRESIDENT
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I hereby apply to John Deere Construction Equipment Company (the "Lender") for a
loan of the Amount Financed shown below, and on the following terms and
conditions. The amount of the Unpaid Balance of Cash Price shown below on Line 3
is to be used to finance the Balance Due on the Purchase Order executed in
connection with the purchase from the Lender of the Equipment described below
(the "Goods"). I agree that I have received the Goods.
PARTIES: In this agreement, the words "I", "me", and "my" mean the persons,
whether one or more, who sign it as "Borrower(s)" (who is also known as
"Debtor(s)").
PROMISSORY NOTE: If this Loan Contract is accepted by Lender, I promise to pay
to Lender or its order the TOTAL OF PAYMENTS as in line 9 below, in monthly
installments and/or installments other than monthly as shown below. If more than
one person signs this agreement as "Borrower", we will be jointly and severally
liable for all amounts due under this agreement. I represent that the Goods are
being purchased for a business or commercial purpose.
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Qty New MFR. MODEL GOODS (Equipment) PRODUCT IDENTIFICATION NO. DELIVERED CASH PRICE
Used
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1 N JD 160L 160LC EXCAVATOR P00160X040482 128500 00
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128500 00
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OTY. MFR. MODEL DESCRIPTION OF TRADE-IN (From Purchase Order) PRODUCT IDENTIFICATION NO. AMOUNT
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TRADE-IN
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CASH DOWN PAYMENT: 26,180.00 TOTAL TRADE-IN 00
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INSTALLMENTS OTHER THAN MONTHLY MONTHLY INSTALLMENTS
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Amount No. Of When Payments Amount No. Of Amount Of First Payment
Financed Mos. Are Due Of Payments Payments Each Payment Due Date
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48 2499 05 01-Aug-99
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ITEMIZATION OF AMOUNT FINANCED
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SALES TAX 8159 75
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01-Jul-03 CASH PRICE (Including Tax) 1 136659 75
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TOTAL DOWN PAYMENT (Sum of
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Payments are due each successive month on the same day Trade-In & Cash Down Payment) 2 26180 00
of the month as the first payment except as follows:
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JUN 99 UNPAID BALANCE 3 110479 75
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DOCUMENTATION FEES 4 400 00
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OFFICIAL FEES 5 20 00
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TOTALS DATE FINANCE CHARGE BEGINS: 01-Jul-99 INSURANCE-Credit Life
and/or Physical Damage 6 00
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SECURITY AGREEMENT: To secure the indebtedness evidenced by this contract, I hereby PRINCIPAL BALANCE 7 110899 75
grant to Lender (Secured Party) a Security Interest in the Goods described above -----------------------------------------------
(which term includes items, if any, listed as "security" or "additional security") FINANCE CHARGE 8 9054 65
and all parts and accessories now or hereafter incorporated in or on such Goods by -----------------------------------------------
way of addition, accession or replacement, together with all proceeds, including, TOTAL
without limitation, insurance proceeds. (Principal Balance plus 9 119954 40
finance Charge)
EARLY PAYMENT: I may prepay my obligation in full at any time prior to the original -----------------------------------------------
or any extended maturity and will be charged only for earned Finance Charges. No ANNUAL INTEREST RATE
penalties will be imposed for early payment. The cost of the Borrower(s)
credit as a yearly rate. 3.90%
ADDITIONAL CONTRACT INFORMATION: See the front and back of this agreement for -----------------------------------------------
additional information and terms regarding non-payment, default, the right to demand
immediate payment, and prepayment refunds. -----------------------------------------------
LATE PAYMENTS: In addition to promising to pay the installments set forth above, I
promise to pay past due penalty on each installment in default more than 10 days
(15 days in North Carolina) not to exceed the highest penalty permitted by
applicable state law.
RETURNED CHECK FEE: If payment is made by a check, draft, or order which is
dishonored, I agree to pay you a fee of $20 or such lesser amount specified by
applicable law.
STATE LAW APPLYING: EXCEPT AS PROHIBITED BY THE LAW OF THE STATE WHERE I LIVE,
THE CONSTRUCTION AND VALIDITY OF THIS AGREEMENT SHALL BE CONTROLLED BY THE LAW
OF IOWA, WHERE THIS AGREEMENT IS ACCEPTED AND ENTERED INTO, AND THE VALIDITY OF
THE SECURITY INTEREST SHALL BE CONTROLLED BY THE LAW OF THE STATE WHERE THE
GOODS ARE TO BE KEPT AND USED.
PHYSICAL DAMAGE INSURANCE REQUIRED (See Provisions on Reverse Side)
Liability insurance coverage for bodily injury and property damage caused to
others not included. If you desire Liability coverage, you should obtain such
coverage from an agent of your choice.
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ADDITIONAL PROVISIONS CONCERNING RIGHTS OF THE PARTIES ON REVERSE SIDE
ARE A PART OF THIS CONTRACT
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INSURANCE DISCLOSURES: I may obtain Physical Damage Insurance from NO. MOS. PREMIUM I want Physical Damage Insurance
anyone I want that is acceptable to Lender. If I get this insurance (Sign in this box)
through Seller, I will pay the Premium shown at right. No insurance
will be provided unless I sign at the right, the premium is shown
and Lender accepts this contract. X
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Credit Life Insurance is not required to obtain credit and will not NO. MOS. PREMIUM I want Credit Life Insurance
be provided unless I sign at the right, the premium is shown and (Sign in this box)
Lender accepts this contract. X Age:
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NOTICE TO BORROWER(S): 1. Do not sign this contract before you read it or if it
contains blank spaces. 2. You are entitled to an exact and completely filled in
copy of this contract when you sign it. Keep it to protect your legal rights. 3.
Under the law, you have the following rights, among others: a. to pay off in
advance the full amount due and to obtain a partial refund of the finance
charge; b. to redeem the property if repossessed for a default within the time
provided by law; c. to require, under certain conditions, a resale of the
property if repossessed.
CAUTION: IT IS IMPORTANT THAT YOU THOROUGHLY READ THE CONTRACT BEFORE YOU SIGN
IT.
I acknowledge receipt of a true copy hereof.
MEADOW VALLEY CONTRACTORS, INC. DO NOT WRITE IN SHADED AREA. - FOR DEERE CREDIT
SERVICES, INC. USE ONLY.
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/s/ Bradley E. Larson - Pres. Date 6/29/99 Accepted By: JOHN DEERE CONSTRUCTION EQUIPMENT
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Borrower's (Debtor's) Signature BRADLEY E. LARSON, President
AT 1415 28th Street, P.O. Box 65090, West Des
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______________________________________________________________ Date __________ Moines, IA 50265-0090
Borrower's (Debtor's) Signature -------------------------------------------
(Address)
______________________________________________________________ Date __________ BY /s/ Margaret Thomas Date 7/9/99
Borrower's (Debtor's) Signature ----------------------------- -------------
(Authorized Signature)
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