EXHIBIT-10.235
EQUIPMENT SCHEDULE NO. 1, dated 3/31/03, to Master Lease Agreement, dated
3/31/03, between THE CIT GROUP/EQUIPMENT FINANCING, INC. ("Lessor") and
Meadow Valley Contractors, Inc. ("Lessee").
This Equipment Schedule incorporates the terms and conditions of the
above-referenced Master Lease Agreement.
This is Originally Executed Copy No. 1 of 1 originally executed copies. Only
transfer of possession by Lessor 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 S. 40th Street Phoenix AZ 85040
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Address City County State Zip Code
LEASE TERM: The term of this Lease for the items described in this Schedule
shall be 42 months.
RENTALS: For said term or any portion thereof, Lessee shall pay to Lessor the
stated aggregate rentals, of which
$0.00 is herewith paid in advance and the balance of the rentals is payable in
42 equal, successive, monthly payments as stated, of which the first is due on
the first monthly rental date set forth below, and the others on a like date of
each month thereafter, until fully paid.
<Table>
<Caption>
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Item Description of Equipment Aggregate Monthly
No. (Include make, kind of unit, year, model and serial number) Rental Rental
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One One (1) Volvo Model A35C Articulated Hauler, S/N A35CV60610 155,400.00 3,700.00
And all additions, substitutions, attachments, replacements
and accessions thereof, plus the proceeds of all the
forgoing.
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</Table>
<Table>
<Caption>
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Date Date of Renewals Purchase
Item Lease Term First Monthly (No. of Years and Option
No. Commences Rental Amount per Year) Price
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3/31/03 June 1, 2003 None 63,565.03
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</Table>
796 (8/00) Equipment Schedule for Master Lease Agreement Page 1 of 2
The Lease term commences on 3/31/03.
The first Monthly Rental is due on June 1, 2003.
The Lease term may be renewed for N/A months with the Monthly Rental for such
renewal term of None.
The Lessee has the option to purchase the Equipment as of the last day of the
initial Lease term for $63,565.03.
Special Provisions Instructions
SO AS LONG AS THERE ARE ANY OBLIGATIONS OUTSTANDING BY DEBTOR TO SECURED PARTY
UNDER REVOLVING LOAN AGREEMENT DATED JULY 17, 2000 THE EQUIPMENT UNDER THE
REVOLVING LOAN AGREEMENT SHALL ALSO SECURE ALL OBLIGATIONS OF THE LESSEE UNDER
EQUIPMENT SCHEDULE NO 1 TO MASTER LEASE AGREEMENT.
ACCEPTED:
LESSEE:
Meadow Valley Contractors, Inc.
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By Clint Tryon Title: Sec/Treas.
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LESSOR:
The CIT Group/Equipment Financing, Inc.
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By Janae Tam Title: Agent
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796 (8/00) Equipment Schedule for Master Lease Agreement Page 2 of 2