Document:

exv10w1

 

Exhibit 10.1

January 3, 2006

Mr. Alan Treibitz
 And
Stephanie S. Kelso

Z-Axis Corporation

The Quadrant, 5445 DTC Parkway #450

Greenwood Village, CO 80111

	 	 	 
	RE:

	 	Modification to Letter Agreement
(Letter Agreement) dated July 2004 between Z-Axis Corporation
(Borrower) and Colorado Business Bank (Bank) relating to a Promissory Note dated June 2, 2003 (Line Commitment)

Dear Alan and Stephanie:

Please let this letter serve as evidence that, in consideration of reducing the above referenced
Line Commitment from $500,000 to $250,000 and a fee of $1,000.00, Colorado Business Bank has
revised Z-Axis Corporation’s minimum net worth requirement from $1,000,000.00 to $700,000.00. This
change was retroactive as of 9/30/05, with Z-Axis in full compliance with the terms and conditions
of the above referenced Letter Agreement as of 12/31/05. All other terms and conditions of the
Letter Agreement remain unchanged.

Please acknowledge your agreement with the above referenced changes by signing below.

Sincerely,

Nancy Snyder

Senior Vice President

Acknowledged:

Z-Axis Corporation

	 	 	 	 	 	 	 
	By

	 	/s/ Alan Treibitz
 

	 	 
	 	 
	 

	 	Alan Treibitz, CEO	 	 	 	 
	 
	 	 	 	 	 	 
	By

	 	/s/ Stephanie S. Kelso
 

	 	 	 	 
	 

	 	Stephanie S. Kelso, President	 	 	 	 

821 17th Street • Denver, Colorado 80202

Tel: 303.312.3400 • Fax: 303.312.3477exv10w2

 

Exhibit 10.2

	 	 	 
	

	 	EQUIPMENT & PAYMENT SCHEDULE
	 

	 	Master Lease No.: 3011501

 

	 	 	 
	LESSOR

	 	LESSEE
	Landmark Financial Corporation

	 	Z-Axis Corporation
	6950 E. Belleview Avenue, Suite 320

	 	 5445 DTC Parkway, Suite 450
	Englewood, CO 80111

	 	Englewood, CO 80111

 

INCORPORATION OF MASTER LEASE AGREEMENT. Lessee and Lessor hereby enter into this Schedule No.
3011501 (“Schedule”) for valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, as of this 26 day of September, 04. All of the terms and conditions set forth in the Master
Equipment Lease Agreement No. 30115 between the Lessor and Lessee and any amendments,
modifications, replacements or substitutions thereto (collectively “Master Lease”) are hereby
incorporated into this Schedule by this reference. All of the defined terms set forth in the Master
Lease shall possess the same definitions in this Schedule unless otherwise noted herein. Lessee
shall lease from Lessor and Lessor shall lease to Lessee the Equipment attached to this Schedule
and incorporated herein by this reference (collectively “Equipment”).

EQUIPMENT DESCRIPTION: Model No., Serial No., or other identification

     Canon Imagerunner 3200 Digital Copier/Printer with feeder, Cassette Feeding Unit,
Stapling Unit and Scanning Unit

PURCHASE PRICE AND SUPPLIER: The purchase price of the
equipment is $23,555.00 and the name and address of the supplier(s) of the Equipment is:

     Canon Business Solutions 7002 South Revere Parkway Centennial CO 80112

LOCATION: Lessee shall maintain the Equipment at the locations herein indicated or at such other
addresses for which Lessee obtains Lessor’s prior written consent which consent shall not be
unreasonably withheld.

     5445 DTC Parkway Suite 450 Englewood, CO 80111

SELECTION OF EQUIPMENT, SUPPLIERS, WARRANTIES

Lessee hereby acknowledges that: (a) LESSEE HAS SELECTED BOTH THE EQUIPMENT AND THE SUPPLIER
THEREOF; (b) LESSOR IS NOT THE MANUFACTURER OR
SUPPLIER OF THE EQUIPMENT AND HAS ACQUIRED THE EQUIPMENT SPECIFICALLY FOR LEASING SUCH EQUIPMENT
TO LESSEE AT LESSEE’S REQUEST IN
CONNECTION WITH THIS LEASE; (c) LESSEE HAS BEEN PROVIDED WITH A COPY OF THE PURCHASE CONTRACT FOR
THE EQUIPMENT BEFORE EXECUTING THIS
LEASE; (d) LESSEE HAS BEEN ADVISED BY LESSOR THAT LESSEE IS ENTITLED TO ANY PROMISES AND
WARRANTIES PROVIDED TO LESSOR IN CONNECTION WITH
THE EQUIPMENT BY THE SUPPLIER THEREOF AND IS ENTITLED TO CONTACT THE SUPPLIER TO RECEIVE AN
ACCURATE AND COMPLETE STATEMENT OF THOSE
PROMISES AN WARRANTIES INCLUDING ANY DISCLAIMERS AND LIMITATIONS OF SUCH PROMISES AND WARRANTIES
OR ANY REMEDIES IN CONNECTION
THEREWITH; and (e) THE LEASE QUALIFIES AS A STATUTORY “FINANCE LEASE” UNDER SECTION 4-2.5-101 ET
SEQ., C.R.S. ___

Lessee
Initials: X HMO

	 	 	 	 	 	 	 
	PAYMENT SCHEDULE
	No. of Payments	 	Base Payment Amount	 	Tax Amount	 	Total Payment
	36
	 	$785.09	 	$54.56	 	839.65

	 	 	 	 	 	 	 	 	 
	ADVANCE PAYMENTS	 	LEASE TERMS
	$    785.09

	 	Base Payments
	 	36 months
	 	Initial Term
	$      54.56

	 	6.95% Tax Rate
	 	 	36	 	 	Total Payments
	$   165.00

	 	Documentation Fee
	 	 	2	 	 	Advance Payment (#)
	$        . 00

	 	Security Deposit
	 	 	34	 	 	Payments remaining after advance
	$        . 00

	 	Other	 	 	 	 	 	 
	$1,844.30

	 	TOTAL ADVANCE
	 	$	23,555.00	 	 	Amount Financed
	 

	 	 	 	 	 	 	 	 

 

			
	*	 	ADVANCE PAYMENTS. The Advance Rental Payments and Security Deposit shall not accrue
interest, may be commingled with Lessor’s other monies, and shall be applied by Lessor, in its
sole discretion, against the various amounts owing by Lessee to Lessor under this Schedule or
any other present or future agreement between those parties. Lessee hereby grants Lessor a
security interest in the Advance Rental Payments and Security Deposit to secure the payment and
performance of Lessee’s indebtedness, liabilities and other obligations to Lessor under the
foregoing agreements.

	 	 	 
	LESSOR

	 	LESSEE
	 

	 	 

This agreement shall not be effective until executed by the Lessee and accepted by an authorized
representative of Lessor at its principal place of business.

	 	 	 	 	 	 	 	 	 	 	 
	Landmark Financial Corporation	 	Z -Axis Corporation
	 
	 	 	 	 	 	 	 	 	 	 
	By/Signature:

	 	/s/ Peter Sutherland
	 	 	 	By/Signature
	 	/s/ Heidi M. O’Neil	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Title:

	 	PRESIDENT
	 	Date: 9/20/04
	 	Title
	 	DIRECTOR OF FINANCE
	 	Date: 9/8/04

 

 

MASTER EXHIBIT “A” MADE HERETO A PART OF

MASTER AGREEMENT NO.: 30115

SCHEDULE NO.: 01

 

LESSEE: Z-Axis Corporation

5445 DTC Parkway Suite 450

Englewood, CO 80111

FEDERAL TAX ID#: 84-0910490

	 	 	 	 	 	 	 	 	 	 	 
	VENDOR NAME

	 	ADDRESS
	 	CITY
	 	 	 	STATE
	 	ZIP
	Canon Business Solutions

	 	 7002 South Revere Parkway
	 	Centennial
	 	 	 	CO
	 	 80112
	 
	 	 	 	 	 	 	 	 	 	 
	EQUIPMENT DESCRIPTION
	 	ADDRESS
	 	CITY
	 	COUNTY
	 	STATE
	 	ZIP
	Canon Image runner 3200 Digital

	 	 5445 DTC Parkway Suite 450
	 	Englewood
	 	Arapahoe	 	CO
	 	 80111
	Copier/Printer with feeder, Cassette
	 	 	 	 	 	 	 	 	 	 
	Feeding
Unit, Stapling Unit and Scanning Unit
	 	 	 	 	 	 	 	 	 	 

Together with all present and future accessions, accessories, additions, attachments,
modifications, replacements and substitutions thereto and all insurance and other proceeds of any
of the foregoing.

	 	 	 	 	 	 	 	 	 	 	 
	Lessor/Creditor: Landmark financial Corporation	 	Lessee/Debtor: Z- Axis Corporation	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By/Signature:

	 	/s/ Peter Sutherland
	 	 	 	By/Signature
	 	/s/ Heidi M. O’Neil	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Title:

	 	PRESIDENT
	 	Date: 9/20/04
	 	Title:
	 	DIRECTOR OF FINANCE
	 	Date: 9/8/04

 

 

	 	 	 
	

	 	Master Lease No.: 30115
	 

	 	MASTER LEASE AGREEMENT

 

			
	Lessor

	 	Lessee
	Landmark Financial Corporation

	 	Z-Axis Corporation
	6950 E. Belleview Avenue, Suite 320

	 	5445 DTC Parkway Suite 450
	Englewood, CO 80111

	 	Greenwood Village, CO 80111-3143

 

1. LEASE. Lessee shall lease from Lessor and Lessor shall lease to Lessee the Equipment,
machinery and other property described in any present or future
Schedule to this Master Lease Agreement (“Schedule”). Such Schedule shall constitute the original
Lease Agreements and shall incorporate all of the terms and
conditions set forth herein. Hereinafter, all of the Equipment, machinery and other property
described in the relevant Schedule to this Master Lease
Agreement and all accessions, accessories, additions, modifications, replacements and substitutions
to such Equipment, machinery and other property shall
be referred to collectively as the “Equipment”.

2. NON-CANCELABLE. This Master Lease Agreement and any Schedule shall become effective only upon
Lessor’s execution thereof whereupon Lessee’s
obligations to Lessor and Lessor’s obligations to Lessee there
under shall become 

NON-CANCELABLE
other than as expressly provided therein. Hereinafter,
this Master Lease Agreement, any Schedule, and any addenda, amendments, extensions, modifications,
replacements or substitutions to any of the foregoing
shall be referred to collectively as a “Lease”.

3. TERM. The Initial Term (“Initial Term”) of any Lease shall be as described in the relevant
Schedule and commence on the earlier of Lessor’s payment of the
purchase price in the amount expressly stated in the relevant Schedule for the relevant Equipment
to the supplier thereof (which Lessee hereby authorizes and
instructs Lessor to pay) or the execution of the relevant Delivery and Acceptance Certificate (as
defined below). Hereinafter, the Initial Term and any
subsequent Term of the Lease as described in the relevant Schedule shall be referred to
collectively as the “Term” of such Lease.

4. BASE RENTAL PAYMENT, OTHER PAYMENTS AND TAX BENEFITS. Lessee shall pay Lessor the Base Rental
Payments and reasonably estimated taxes
(collectively “Base Rental Payments”) on the due date for payment described in any Schedule during
the Term of the relevant Lease. To the extent not included
in the Base Rental Payments described in any Schedule, Lessee shall pay all ad valorem, personal
property, real property, sales, use, excise, stamp,
documentary, registration, income, and other taxes, licenses, fees, assessments, fines, penalties,
and other charges imposed on the Lease and the ownership,
possession, use or lease of the Equipment or otherwise pertaining to Lessee’s business activities,
financial condition, or assets during the Term of the Lease
(except for taxes imposed on Lessor’s income and not otherwise provided for herein). Nothing
contained herein shall prevent Lessee from contesting any of
the foregoing taxes or assessments following the prompt payment thereof. All amounts payable to
Lessor under the Lease shall be paid to Lessor in currency
of the United States of America at Lessor’s address set forth above or any other address which
Lessor may provide Lessee with written notice of from time to
time.

5. DELIVERY AND ACCEPTANCE. Upon its receipt of the Equipment described in any Schedule, Lessee
shall execute and provide Lessor with a Delivery and
Acceptance Certificate (“Delivery and Acceptance Certificate”) in a form reasonably acceptable to
Lessor who acknowledges the delivery and Lessee’s
acceptance of the relevant Equipment without any reservations of any kind. Lessee shall not assert
against Lessor any claim, defense, setoff or counterclaim
of any kind if the supplier fails to deliver, or causes a delay in the delivery of, the Equipment
or if the Equipment is defective, nonconforming or otherwise
unsatisfactory for any reason. The occurrence of any of the foregoing factors shall not affect the
validity of the Lease or the payment and performance of
Lessee’s indebtedness, liabilities and obligations hereunder in any manner.

6. DISCLAIMER OF WARRANTIES, CLAIMS AND LIMITATION OF REMEDIES. Lessee hereby acknowledges with
respect to each Lease that: (a) Lessor is leasing to
Lessee and Lessee is leasing from Lessor the Equipment “AS IS” and “WITH ALL FAULTS” and Lessor
makes no express or implied representations or warranties
with respect to the Equipment of any kind including, but not limited to, those pertaining to title,
condition, design, capacity, MERCHANTABILITY, FITNESS FOR
ANY PARTICULAR PURPOSE, or absence of infringement upon any patents, copyrights, trademarks,
licenses, or other intellectual property rights; provided,
however, that Lessor has not provided any third party with any liens, security interests,
encumbrances or claims against the Equipment; (b) by executing the
Delivery and Acceptance Certificate, Lessee shall acknowledge that it has inspected the Equipment
and determined that the Equipment is in good condition
and acceptable in all respects; (c) Lessee’s only recourse shall be against the supplier or
manufacturer of the Equipment and not against Lessor if the
Equipment is not properly installed, does not operate as represented or warranted by the supplier
or manufacturer, or is unsatisfactory for any reason. Lessor
hereby assigns to Lessee any warranties made by the supplier or the
manufacturer of the Equipment
so long as Lessee is not in default upon its obligations
under the Lease; (d) REGARDLESS OF ANY PROBLEMS WITH RESPECT TO
THE EQUIPMENT, LESSEE SHALL PAY THE
VARIOUS AMOUNTS OWING AND PERFORM ITS
OTHER OBLIGATIONS UNDER THE LEASE WITHOUT SETOFF OR ABATEMENT OF ANY KIND AND LESSEE SHALL HAVE NO
REMEDY AGAINST LESSOR FOR ANY
CONSEQUENTIAL OR INCIDENTAL DAMAGES IN CONNECTION THEREWITH; and (e) the Equipments being leased
to Lessee solely for commercial or business
(and not for personal, family, household, or agricultural) purposes.

INITIALS: HMO

7. TITLE, ABSENCE OF LIENS, SECURITY INTERESTS, ENCUMBRANCES, CLAIMS AND FILINGS. With respect to
each Lease, Lessor is and shall remain the sole
owner of the Equipment under all conditions. Lessee acknowledges that the Equipment is and shall
remain personal property at all times despite its affixation
to any real property. Lessee shall keep the Equipment and the Lease free and clear of all liens,
levies, encumbrances and claims of any kind (besides those
belonging to or created by Lessor) and shall defend Lessor’s rights, title and interests in and to
the Equipment and the Lease against any unauthorized liens,
levies, encumbrances or claims besides those created by Lessor (collectively “Unauthorized Claims”)
at Lessee’s expense. Lessee shall immediately provide
Lessor with written notice of any actual or threatened Unauthorized Claims. Lessee, at its
expense, shall take all actions and execute, file and record all
financing statements, title and registration materials, and other documents that may be necessary
to establish, maintain, and preserve Lessor’s rights, title
and interests in the Equipment and provide any third parties with notice thereof.

8. DISPOSITION OF EQUIPMENT. With respect to each Lease, Lessee shall not assign, convey, lease,
sell or transfer any of the Equipment to any third party
without the prior written consent of Lessor, which may be withheld in its sole discretion. Any
unauthorized assignments, conveyances, leases, sales or
transfers by the Lessee of the Equipment shall be void abinitio in all respects.

	 	 	 
	PAGE 1 of 4	 	INITIALS: HMO

 

 

Master Lease No.: 30115

17. REMEDIES. If there is a default under any Lease, Lessor shall be entitled to exercise
one or more of the following remedies without presentment,
dishonor, notice or demand of any kind (all of which are hereby waived by Lessee): (a) to cancel
the Lease; (b) to accelerate the payment of the un-accrued
amounts owing under the Lease; (c) to collect the following amounts with or without resorting to
judicial process: (i) all un-accrued amounts payable under
the Lease as of the earlier of the date on which those amounts are paid to Lessor or judgment is
entered in Lessor’s favor therefore and, if the Equipment has
not been returned to Lessor, Lessor’s estimated residual value for the Equipment both discounted to
their present value as of the earlier of the date on which
those amounts are paid to Lessor or judgment is entered in Lessor’s favor therefore by a factor of
six percent (6%) per annum; (ii) all late charges and default
interest (in the amounts and at the rates described in Section 22 below) on any amounts not paid to
Lessor when due under the Lease or any judgment for
damages arising hereunder; (iii) all of Lessor’s incidental damages and other reasonable amounts
expended in the repossession, repair, preparation and
advertising for sale or lease, resale, release, or other disposition of the Equipment or the
enforcement of Lessor’s rights hereunder; and (iv) all other amounts
recoverable by Lessor under the Lease or applicable law; (d) to enter Lessee’s or any third party’s
premises and take possession of the Equipment; (e) to
require Lessee to deliver and make available to Lessor the Equipment at the location described in
Section 9 of this Master Lease Agreement or such other
location stipulated by Lessor; (f) at Lessor’s option, to sell, release or otherwise dispose of the
Equipment under such terms and conditions as may be
acceptable to Lessor in its discretion. In the event that Lessor elects to sell or release the
Equipment, Lessor shall provide Lessee with a setoff against
Lessee’s outstanding obligations to Lessor under the Lease for the net sale proceeds actually
received by Lessor or the net payments payable to Lessor under
the replacement Lease during the mandatory Term of the Lease discounted to their present value as
of the commencement date of the replacement Lease by a
factor of six percent (6%) per annum; provided, however, that Lessor shall not be accountable to
Lessee or any third party for any profits made upon the sale,
release or other disposition of the Equipment under any circumstances; (g) to set off the Security
Deposit, any Advance Rental Payments, or other amounts
payable to Lessor by Lessee against any amounts due from Lessee; and (h) to exercise all other
rights available to Lessor under the Lease, any other
Agreement, or applicable law. Lessor’s rights are cumulative and may be exercised together,
separately, and in any order. In the event that Lessor seeks to
recover the Equipment, Lessee waives the posting of any bond, which might otherwise be required
under applicable law.

18. ESSENCE OF TIME. Lessee and Lessor agree that time is of the essence with respect to the
performance of their respective obligations under each Lease.

19. INDEMNITY. With respect to each Lease, Lessor shall not assume or be responsible for the
performance of any of Lessee’s obligations, with respect to the
Equipment under any circumstances. Lessee shall immediately provide Lessor with written notice of
and indemnify and hold Lessor and its shareholders,
directors, officers, employees, and agents (collectively “Indemnified Parties”) harmless from all
claims, damages, liabilities (including reasonable attorneys’
fees and legal expenses), causes of action, actions, suits and other legal proceedings of any kind
(collectively “Claims”) pertaining to its business operations
or assets or the ownership, lease, possession, or use of the Equipment (including, but not limited
to, Lessor’s performance of Lessee’s obligations with
respect to the Equipment) except for those Claims arising solely from Lessor’s gross negligence or
willful misconduct. Lessee, upon the request of Lessor,
shall hire legal counsel reasonably acceptable to the Indemnified Parties to defend the Indemnified
Parties from such Claims, and pay the attorneys’ fees, legal
expenses and other costs incurred in connection therewith. In the alternative and at Lessor’s
option, the Indemnified Parties shall be entitled to employ their
own legal counsel to defend such Claims and Lessee shall pay all reasonable costs, fees (including
attorneys’ fees) and expenses associated therewith.

20. FURTHER ASSURANCES. With respect to each Lease, Lessee, at its expense, shall execute all
additional documents and take all additional actions as
Lessor may deem reasonably necessary or advisable to establish, maintain, protect or preserve
Lessor’s rights, title and interest in the Equipment or otherwise
carry out the intent and purposes of the Lease.

21. POWER OF ATTORNEY. With respect to each Lease, Lessee hereby appoints Lessor as its
attorney-in-fact to: (a) take any actions necessary to complete,
or correct any mistake contained in, the Lease or any related financing statements or other
documents including, but not limited to, completing the quantity,
serial numbers or other description of the Equipment, filling in any blank spaces, inserting any
missing dates or other information, or correcting any
erroneous words or phrases; (b) during the continuance of any event of default hereunder, assert,
pursue, litigate and settle any insurance or other claims for
any Loss or Damage and collect any insurance or other proceeds pertaining to the Equipment
(including, but not limited to, endorsing Lessee’s name on all
instruments and other remittances payable to Lessee with respect to the Equipment or any insurance
or other proceeds thereof); and (c) during the
continuance of any event of default hereunder, take any action or execute any document required to
be taken or executed by Lessee under the Lease or any
related documents or otherwise deemed reasonably necessary or advisable by Lessor in its sole
discretion with respect to the Equipment or the Lease.
Lessor’s performance of such actions or execution of such documents shall be taken or not taken in
its sole discretion and shall not relieve Lessee from any
obligation or cure any default under the Lease. The powers of attorney described in this paragraph
are coupled with an interest and are irrevocable, shall
survive Lessee’s death, and shall not be affected by Lessee’s disability in any manner.

22. DEFAULT INTEREST. With respect to each Lease, Lessee shall pay Lessor a late charge at the
lower of five percent (5%) of the delinquent amounts or the
highest rate permitted by law on any amount payable to Lessor there under that is not paid when
due. In addition, Lessee shall pay Lessor interest on any
amounts payable to Lessor that are more than thirty (30) days delinquent at the lower of
twenty-four percent (24%) per annum or the highest rate permitted
by law.

23. REIMBURSEMENT OF AMOUNTS EXPENDED BY LESSOR. With respect to each Lease, Lessee shall
reimburse Lessor, upon demand, for all reasonable
amounts (including, but not limited to, reasonable attorneys’ fees, legal expenses and court costs,
travel expenses, long distance telephone charges, and
filing and registration fees) expended by Lessor in: (a) the drafting, negotiating and execution of
the Lease and all documents, instruments and Agreements
executed in connection therewith; and (b) the performance of any action required to be taken by
Lessee under the Lease, the protection of Lessor’s rights in
the Equipment, the provision of notice to any third party regarding Lessor’s rights in the
Equipment, or the exercise of any right or remedy belonging to
Lessor under the Lease or any related Agreement, together with Default Interest thereon from the
date of payment (during the continuance of an event of
default hereunder) or from the thirtieth (30th) day following Lessor’s provision of notice to
Lessee of such payment (in the absence of an event of default
hereunder) until the date of reimbursement.

24. WAIVER OF STATUTORY RIGHTS. With respect to each Lease, Lessee hereby waives all of its rights
and remedies set forth in Sections 4-2.5-508 through
522, C.R.S. or any similar statute to the greatest extent permitted
by law.

25. SURVIVAL. All of the representations, warranties, waivers, indemnifications and hold harmless
and other obligations described in any Lease shall survive
the expiration or cancellation of such Lease.

26. ASSIGNMENT. Lessee shall not be entitled to assign any of its rights, remedies or obligations
described in any Lease without the prior written consent of
Lessor, which may be withheld by Lessor in its sole discretion. Any unauthorized assignments shall
be void abinitio in all respects. Lessor shall be entitled to
assign some or all of its rights and remedies described in any Lease without notice to or the prior
consent of Lessee in any manner. The assignee shall not
assume any of Lessor’s obligations under the Lease and Lessee hereby waives and shall not assert
against such assignee any claims, defenses, setoffs or
counterclaims that Lessee may now or hereafter possess against Lessor with respect to the Lease or
otherwise. Lessor shall be entitled to provide any
regulatory agency or prospective or actual assignee, lender, or participant with any information
provided to or generated by Lessor in connection with Lessee,
any guarantor, the Equipment, or the Lease; provided, however, that Lessor shall obtain its
standard confidentiality Agreement from any actual or prospective
assignee, lender or participant.

	 	 	 
	PAGE 3 of 4	 	INITIALS: HMO

 

 

	 	 	 
	

	 	DELIVERY & ACCEPTANCE CERTIFICATE
	 

	 	Master Lease No.: 3011501

 

	 	 	 
	LESSOR

	 	LESSEE
	Landmark Financial Corporation

	 	Z-Axis Corporation
	6950 E. Belleview Avenue, Suite 320

	 	5445 DTC Parkway Suite 450
	EnglewoodCO80111

	 	Englewood, CO 80111

 

	 	 	 	 	 	 	 	 	 	 	 
	VENDOR NAME

	 	ADDRESS
	 	CITY
	 	 	 	STATE
	 	ZIP
	Canon Business Solutions

	 	7002 South Revere Parkway
	 	Centennial
	 	 	 	CO
	 	80112
	 
	 	 	 	 	 	 	 	 	 	 
	EQUIPMENT DESCRIPTION

	 	ADDRESS
	 	CITY
	 	COUNTY
	 	STATE
	 	ZIP
	Canon Image runner 3200 Digital

	 	5445 DTC Parkway Suite 450
	 	Englewood
	 	 	 	CO
	 	80111
	Copier/Printer with feeder, Cassette
	 	 	 	 	 	 	 	 	 	 
	Feeding Unit, Stapling Unit and Scanning
	 	 	 	 	 	 	 	 	 	 
	Unit
	 	 	 	 	 	 	 	 	 	 

Lessee hereby acknowledges the receipt, in good condition, of all of the Equipment (as
defined in the Lease described below) and unconditionally accepts the same in accordance with all
of the terms and conditions of that certain Master Equipment Lease Agreement No. 30115 and
Schedule No. 3011501 between Lessor and Lessee dated 9/20, 04 (collectively, the “Lease”).

Lessee acknowledges that: (a) lessee has selected both the equipment and the supplier
thereof; (b) lessor is not the manufacturer or supplier of the equipment and has
acquired
the equipment specifically for leasing such equipment to lessee at lessee’s request in connection
with this lease; (c) lessee has been provided with a copy of the purchase contract
for the equipment before executing the lease; (d) prior to executing
the lease, lessee was advised by lessor that lessee is entitled to
any promises and warranties provided to the lessor in connection with the
equipment by the supplier thereof and is entitled to contact the
supplier to receive an accurate and complete statement of those
promises and warranties including any disclaimers and limitations of such promises and warranties or any
remedies in connection therewith; and (e) the lease qualifies as a statutory “finance lease” under
article section 4-2.5-101 etseq., C.r.s.

Lessee hereby acknowledges that:

	 	1.	 	Lessor is leasing to Lessee and Lessee is leasing from Lessor the Equipment “AS IS” and
“WITH ALL FAULTS” and Lessor makes no express or implied
representations or warranties with respect to the Equipment including, but not limited to,
those pertaining to title, condition, design, capacity,
MERCHANTABILITY or FITNESS FOR ANY PARTICULAR PURPOSE; provided, however, that Lessor has not
provided any liens, security interests,
encumbrances or claims against the Equipment to any third party;
	 
	 	2.	 	Lessee has been provided with the opportunity to inspect the Equipment and has
inspected the Equipment and determined that it is in good condition
and acceptable in all respects;
	 
	 	3.	 	If the Equipment is not properly installed, does not operate as represented or
warranted by the supplier or manufacturer, or is unsatisfactory for any
reason; Lessee’s only recourse shall be against the supplier or manufacturer of the Equipment
and not against Lessor;
	 
	 	4.	 	REGARDLESS OF ANY PROBLEMS WITH RESPECT TO THE EQUIPMENT, LESSEE SHALL PAY THE VARIOUS
AMOUNTS OWING AND PERFORM ITS OTHER
OBLIGATIONS UNDER THE LEASE WITHOUT SETOFF OR ABATEMENT OF ANY KIND AND LESSEE SHALL HAVE NO
REMEDY AGAINST LESSOR FOR ANY
CONSEQUENTIAL OR INCIDENTAL DAMAGES IN CONNECTION THEREWITH; and
	 
	 	5.	 	The Equipment is being leased to Lessee solely for commercial or business (and not for
personal, family, household, or agricultural) purposes.

TO LESSEE: DO NOT SIGN THIS DELIVERY AND ACCEPTANCE CERTIFICATE UNTIL YOU HAVE ACTUALLY
RECEIVED ALL OF THE EQUIPMENT SET FORTH ON EXHIBIT A ATTACHED HERETO.

	 	 	 	 	 	 	 
	 	 	Z-Axis Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By/Signature:
	 	/s/ Heidi M. O’Neil	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:
	 	DIRECTOR OF FINANCE
	 	Date: 9/9/04

 

 

	 	 	 
	

	 	Master Lease No.: 3011501 
	 

	 	PURCHASE SUPPLEMENT

 

	 	 	 
	Lessor

	 	Lessee
	Landmark Financial Corporation

	 	Z–Axis Corporation
	6950 E. Belleview Avenue, Suite 320

	 	5445 DTC Parkway Suite 450
	Englewood, CO 80111

	 	Englewood, CO 80111

 

Lessee hereby agrees that this instrument is a Supplement to the above referenced Business Lease
Agreement, which is hereby incorporated therein by reference and acknowledges receipt of a copy of
said Supplement.

TERMS

In connection with the above referenced Business Lease Agreement covering the Equipment
described below, Lessee has the option to purchase the Equipment described below at the end of the
Initial Lease Term for $1.00 contingent upon the Lessee having fully complied with all terms and
conditions of the Lease.

EQUIPMENT DESCRIPTION

Canon Imagerunner 3200 Digital Copier/Printer with feeder, Cassette Feeding Unit, Stapling Unit and
Scanning Unit

	 	 	 
	Accepted In Its Corporate Offices.

	 	This Agreement shall not be
effective until executed by the
Lessor and accepted by an
authorized representative of the
Lessor at its principle place of
business.
	 
	 	 
	Lessor

	 	Lessee
	Landmark Financial Corporation

	 	Z–Axis Corporation
	 

	 	 	 	 	 	 	 	 	 	 	 
	Signature:

	 	/s/ Peter Sutherland
	 	 	 	Signature:
	 	/s/ Heidi M. O’neil	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Printed Name:

	 	PETER SUTHERLAND	 	 	 	Printed Name:
	 	HEIDI M. O’NEIL	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	Title:

	 	PRESIDENT
	 	Date: 9/20/04
	 	Title:
	 	DIRECTOR OF FINANCE
	 	Date: 9/8/04

 

 

	 	 	 
	

	 	Master Lease No.: 3011501
	 

	 	SECRETARY’S CERTIFICATE OF DIRECTORS’ RESOLUTIONS
	 

	 	AND INCUMBENCY FOR CORPORATE LESSEE

 

	 	 	 
	Lessor

	 	Lessee
	Landmark Financial Corporation

	 	Z–Axis Corporation
	6950 E. Belleview Avenue, Suite 320

	 	5445 DTC Parkway Suite 450
	Englewood, CO. 80111

	 	Englewood, CO 80111

 

WHEREAS, Z-Axis Corporation (“Lessee”) desires to enter into certain
Equipment Lease(s) and/or other financing arrangements with Landmark
Financial Corporation (“Lessor”) pursuant to which it is contemplated that
Lessor may Lease certain Equipment and/or extend other financing
arrangements to Lessee;

WHEREAS, Lessee deems the foregoing Lease(s) and other financing
arrangements with Lessor to be in its best interest;

NOW, THEREFORE, it is
hereby:

RESOLVED, that any of the Officers or authorized management personnel of Lessee, and each of them,
are hereby authorized, directed and empowered, either jointly or severally, for and on behalf of
and in the name of Lessee to enter into such Lease(s) and other financing arrangements with Lessor
and any other party at this time or at any other time, as they, or any of them, may see fit; and
it is further

RESOLVED, that said Officers, and each of them, are hereby authorized, directed and empowered,
either jointly or severally, for and on behalf of and in the name of Lessee, to Lease any
Equipment with Lessor and grant security interests in, mortgage or pledge any or all of the
property and assets of Lessee, real, personal, or mixed, tangible or intangible, to Lessor or any
third party as security; and it is further

RESOLVED, that said Officers, and each of them, are hereby authorized, directed and empowered to
make, execute and deliver to Lessor or any third party, either jointly or severally, for and on
behalf of and in the name of Lessee, any and all Leases, instruments, Agreements, financing
statements, and other documents with or in favor of Lessor and any and all amendments,
supplements, modifications, extensions, restatements, renewals or replacements thereof; and it is
further

RESOLVED, that all action heretofore taken and all documentation heretofore delivered by any of
said Officers, or by any individual who currently holds or has held any of said offices, in
furtherance of the foregoing is hereby ratified, adopted, approved and confirmed and declared to
be binding and enforceable obligations of Lessee in accordance with the respective terms and
provisions thereof; and it is further

RESOLVED, that the authorizations herein set forth shall remain in full force and effect until
written notice of their modification or discontinuance shall be given to and actually received by
Lessor at its address designated in the documents mentioned above, but no such modification or
discontinuance shall affect the validity of the acts of any person authorized to so act by these
resolutions performed prior to the receipt of such notice by Lessor.

I, HEIDI

O’NEIL do hereby certify that I am the DIRECTOR OF FINANCE of Lessee which is duly
organized and validly existing under the
laws of the State of CO and licensed to conduct business in each applicable jurisdiction; that I
am the keeper of the corporate records and the seal of Lessee; that the foregoing is a true and
correct copy of resolutions duly adopted and ratified at a special meeting of the Board of
Directors of Lessee, duly convened and held in accordance with its Bylaws and the laws of said
State on the 9th day of September, 2004 as taken and transcribed by me from the minutes of said
meeting and compared by me with the original of said resolutions recorded in said minutes; that
the same have not in any way been modified, repealed or rescinded but are in full force and
effect; and that the foregoing resolutions are not inconsistent with the Certificate of
Incorporation and Bylaws of Lessee.

I further certify that the following are all of the Officers of Lessee and that the signatures
placed next to their names are genuine and authentic in all respects:

	 	 	 	 	 
	OFFICERS

	 	PRINTED NAMES
	 	(MINIMUM OF 2 SIGNATURES REQUIRED)
	 
	President

	 	STEPHANIE KELSO
	 	/s/ Stephanie Kelso
	 
	 	 	 	 
	Vice President
	 	 	 	 
	 

	 	 
	 	 
	 
	 	 	 	 
	 

	 	 	 	/s/ Stephanie Kelso
	 

	 	 

	 	 

	 
	 	 	 	 
	DIRECTOR OF FINANCE

	 	HEIDI O’NEIL
	 	/s/ Heidi O’neil
	 

	 	 	 	 
	 
	 	 	 	 
	General Manager

	 	 	 	 
	 

	 	 	 	 

WITNESS, my hand and the seal of Lessee on this 9th day of September, 2004.
Corporate Seal

	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Heidi O’neil
	 	 	 	Title: 
	DIRECTOR OF FINANCE
	 

	 	 	 	 	 	 	 	 

I,
STEPHANIE the President of Lessee do hereby certify that HEIDI O’NEIL is the duly
appointed and incumbent DIRECTOR OF FINANCE of Lessee.

	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Stephanie Kelso
	 	 	 	Title: 
	President
	 

	 	 	 	 	 	 	 	 

 

 

iLien Coverpage

Date Printed: 9/9/2004

Debtor:

Z-Axis Corporation

5445 DTC Parkway

Suite 450

Englewood, CO 80111

Equipment
Lease #: 3011501

iLien File #: 11374137

UDS #: 6375675

Order Confirmation #: 2969104

UserlD: 46763

Number of Collateral Pages Attached: 0

Transaction Type: Original

Jurisdiction: CO, Secretary of State

 

 

UCC FINANCING STATEMENT

FOLLOW INSTRUCTIONS (front and back) CAREFULLY

	 	 	 	 	 	 	 	 	 
	 	A. NAME & PHONE OF CONTACT AT FILER [optional]  	 	 	 
	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 
	 	B. SEND ACKNOWLEDGMENT TO: (Name and Address)	 	 	 
	 	 
	 	 	 	 	 	 	 
	 	 

	 	LFC, INC	 	 	 	 	 
	 	 

	 	P O Box 4877	 	 	 	 	 
	 	 

	 	Englewood, CO 80155	 	 	 	 	 
	 	 

	 	 	CO, Secretary of State	 	 	 	 
	 	 

	 	 	 	 	 	 	THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY

1.
DEBTOR’S EXACT FULL LEGAL NAME -
insert only one debtor name (1a or 1b) - do not
abbreviate or combine names

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	—	 	 	1a. ORGANIZATION’S NAME Z-Axis Corporation	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 

	OR	 	 	1b. INDIVIDUAL’S LAST NAME	 	 	 	 	 	 	FIRST NAME	 	 	 	MIDDLE NAME	 	 	 	 	 	SUFFIX
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	1c. MAILING ADDRESS 5445 DTC Parkway, Suite 450	 	 	 	 	CITY	 	 	 	STATE
	 	 	POSTAL CODE
	 	COUNTRY
	 

	 	 	 	 	 	 	 	 	 	 	 	Englewood	 	 	CO	 	 	80111	 	US
	1d. TAX ID #: SSN OR EIN	 	 	ADD’L INFO RE	 	 	1e. TYPE OF ORGANIZATION	 	1f. JURISDICTION OF ORGANIZATION	 	 	 	1g.
ORGANIZATIONAL ID #, if any
	 	 	 	ORGANIZATION	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	84-0910490	 	 	DEBTOR
	 	 	Corporation	 	Colorado	 	 	 	19871522585	 	 	 	 	 	oNONE

2.
ADDITIONAL DEBTOR’S EXACT FULL LEGAL NAME -
insert only one debtor name (2a or 2b)- do not abbreviate or combine names

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	2a. ORGANIZATION’S NAME	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 

	OR	 	 	2b. INDIVIDUAL’S LAST NAME	 	 	 	 	 	 	FIRST NAME	 	 	 	MIDDLE NAME	 	 	 	 	 	SUFFIX
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2c. MAILING ADDRESS	 	 	 	 	 	 	CITY	 	 	 	STATE
	 	 	POSTAL CODE
	 	COUNTRY
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	2d. TAX ID #: SSN OR EIN	 	 	ADD’L INFO RE	 	 	2e. TYPE OF ORGANIZATION	 	2f. JURISDICTION OF ORGANIZATION	 	 	 	2g.
ORGANIZATIONAL ID #, if any
	 	 	 	ORGANIZATION	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	DEBTOR
	 	 	 	 	 	 	 	 	                              	 	 	 	 	 	oNONE

3. SECURED
PARTY’S NAME (or NAME of TOTAL
ASSIGNEE of ASSIGNOR S/P)- insert only one secured party name (3a or 3b)

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	3a. ORGANIZATION’S NAME LFC, INC.	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 

	OR	 	 	3b. INDIVIDUAL’S LAST NAME	 	 	 	 	 	 	FIRST NAME	 	 	 	MIDDLE NAME	 	 	 	 	 	SUFFIX
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3c. MAILING ADDRESS 6950 E Belleview Ave #320	 	 	 	 	CITY	 	 	 	STATE
	 	 	POSTAL CODE
	 	COUNTRY
	—

	 	 	 	 	 	 	 	 	 	 	 	Englewood	 	 	CO	 	 	80111	 	 

4. This FINANCING STATEMENT covers the following collateral:

1- Canon Imagerunner 3200 Digital Copier/Printer with feeder, Cassette Feeding Unit, Stapling Unit and Scanning Unit

 

5. ALTERNATIVE DESIGNATION [if applicable]: þ LESSEE/LESSOR o
CONSIGNEE/CONSIGNOR o BAILEE/BAILOR o SELLER/BUYER o AG. LIEN
o NON-UCC FILING

 

	 	 	 
	6.
o This FINANCING STATEMENT is to be filed [for record] (or recorded) in the REAL

	 	7. Check to
REQUEST SEARCH REPORT(S) on Debtor(s)
	         ESTATE RECORDS.              Attach Addendum
            [if applicable]

	 	    [ADDITIONAL FEE]  [optional]  o All Debtor  o
Debtor 1  o Debtor 2

 

8. OPTIONAL FILER REFERENCE DATA 3011501

11374137

 

FILING
OFFICE COPY — NATIONAL UCC FINANCING STATEMENT (FORM UCC1) (REV. 07/29/98)

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