Lease Agreement

	
 

	
For Office Use
 Only


	 	
 

	
 

	
Lease Agreement
 Number: 901500


	
Machinery Finance Resources, LLC

	
 

	
Lease Agreement
 Date: January 26, 2009


	
910 Day Hill Road, Windsor, CT
 06095

	
 

	
 


	
With Questions call: (800)
 687-3375 FAX TO: (800) 687-3376

	
 

	
Rental
 Commencement Date: _____


	 	
 

	
 

	
 


	
 


	
Lessee Information














	
 

	
 

	
 

	
 

	
 


	
Lessee’s Full Legal Name

	
 

	
 

	
 

	
 


	
SCORPION PERFORMANCE, INC.

	
 

	
 


	
Street Address

	
County

	
City

	
State

	
Zip Code


	
3000 SW 4th AVE.

	
BROWARD

	
FORT LAUDERDALE

	
FL

	
33315


	
Location of Equipment

	
County

	
City

	
State

	
Zip Code


	
5417 N.W. 44th AVE.

	
MARION

	
OCALA

	
FL

	
33482


	
 

	
 

	
 

	
 

	
 


	
Equipment



	
 


	
2- HAAS VF-S22 VERTICAL MACHINGING CENTERS WITH
 TR16025XB 160MM DUAL SPINDLE ROTARY TABLES, WITH ALL STANDARD OPTIONS AND
 ACCESSORIES.







	
 

	
 

	
 

	
 

	
 


	
Qty.

	
Serial #

	
Description

	
See Schedule A for any additional equipment

	 
	
Initial Term of Lease (Months)


	
SIXTY (60)

	
 

	
 

	
 

	 
	
Amount of Each Lease Payment

	
Plus applicable sales/


	
$4,836.12

	
 

	
use tax

	
hereunder

	 
	
       Payment
 Period:  x Monthly   o Quarterly   
 o Other

	
COST OF EQUIPMENT/AMOUNT FINANCED:
$246,041.32

	 
	
 


	
Advance Payments



	
 







	
 

	
 


	
x

	
1st AND 60TH LEASE
 PAYMENTS PLUS DOCUMENTATION FEE.


	
 

	
Security Deposits
 will be refunded upon expiration of the Lease provided Lessee is not in
 default of any of the terms and conditions of the Lease.


	
Personal Guaranty






THIS PERSONAL GUARANTY CREATES SPECIFIF LEGAL OBLIGATIONS.


In consideration of Lessor entering into the
lease agreement identified above (“Lease”), the undersigned Personal Guarantor
(hereinafter, “You”) unconditionally and irrevocable guarantees to Lessors, its
successor and assigns, the prompt payment and performance of all obligations of
the Lessee identified in this Lease. You agree that this is a guaranty of
payment and not of collection, and that Lessor can proceed directly against you
without first proceeding against the Lessee or against the equipment covered by
the Lease. You waive all notices and defenses, based upon surety ship or
impairment of collateral, including but not limited to release of collateral or
failure to perfect a security interest. You agreed that Lessor can renew,
extend or otherwise modify the terms of the Lease and you will be bound by such
changes. If the Lessee defaults under the Lease, you will immediately perform
all obligations of the Lessee under the Lease, including, but not limited to,
paying all amounts due under the Lease. You will pay to Lessor all expenses,
INCLDUING ATTORNEYS FEES incurred in enforcing Lessor’s rights against you or
the Lessee. This is a continuing guaranty that will not be discharged or
affected by your death and will bind your heirs and personal representatives. You
waive any rights to seek repayment from the Lessee in the event you much pay
Lessor. If more than one guarantor has signed this Personal Guaranty, each of
you agree that your liability is joint and several. You authorize Lessor or any
of Lessor’s agents to obtain credit bureau reports regarding you personal
credit and to make other credit inquiries that Lessor determines are necessary.


THIS PERSONAL GUARANTY IS GOVERNED BY THE
LAWS OF THE STATE OF CONNECTICUT. YOU CONSENT (AND THE LESSEE HAS CONSENTED) TO
THE JURISDICTION OF ANY COURT LOCATED WITHIN CONNECTICUT, YOU EXPRESSLY WAIVE
(AS HAS THE LESSEE) ANY RIGHT TO A TRIAL BY JURY.


	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 


	
Personal Guarantor
 #1

	
Personal Guarantor
 #2

	
Personal Guarantor
 #3

	
Personal Guarantor
 #4


	
Name: ROBERT
 STOPANIO

	
Name:

	
 

	
Name:

	
 

	
Name:

	
 


	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 


	
/s/ Robert
 Stopanio

	
1-29-09

	
 

	
 

	
 

	
 

	
 

	
 


	
(an individual)

	
   Date

	
(an individual)

	
 Date

	
(an individual)

	
Date

	
(an individual)

	
  Date


	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 


	
/s/ Jessica Weaver

	
1-29-09

	
 

	
 

	
 

	
 

	
 

	
 


	
Witness

	
   Date

	
 

	
 

	
 

	
 

	
 

	
 





TERMS AND CONDITIONS


1. By signing this Lease, Lessor acknowledges
and agrees that: it has read and understand the TERMS AND CONDITIONS OF THIS
LEASE; this Lease becomes effective only upon written acceptance by an
authorized employee of Lessor, this is a net lease, it cannot terminate or
cancel this Lease; it has an UNCODNITIONAL OBLIGATION to make all payments due
under this Lease; it cannot withhold, set off or reduce such payments for any
reason; it will use the Equipment only for business purpose; the person signing
this Lease has the authority to do so and to grant the POWER OF ATTORNEY set
forth in paragraph 11 herein; it entered into this Lease rather than purchase
the Equipment. THIS LEASE SHALL BE GOVERNED BY THE LAWS OF THE STATE OF
CONNECCTICUT; AND TO THE JURISDICTION OF ANY COURT LOCATED IN CONNECTICUT. YOU
EXPRESSLY WAIVE ANY RIGHT TO TRIAL BY JURY.


	
 

	
 


	
LESSEE: SCORPION PERFORMANCE, INC.

	
LESSOR: MACHINERY FINANCE RESOURCES, LLC


	
Robert Stopanio

	
Deborah M. Senk,
 Manager Portfolio Services


	
 

	
 


	
THIS LEASE IS NON-CANCELABLE