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HomeMy WebLinkAboutC2016-357 - 8/12/2016 - NA Zo ► Lo © l'10 rv' ;' LOAN AGREEMENT FOR MOTOR VEHICLE STATE OF TEXAS § COUNTY OF NUECES § THIS LOAN AGREEMENT is entered into effective the Sed day of b {- , 2016, by and between the Corpus Christi Police Department, Law Enforcement Agency (hereinafter called "Lender") and Nueces County, for the benefit of the Nueces County District Attorney's Office, County Agency (hereinafter called Borrower). W1TNESSETH: WHEREAS, Lender, Law Enforcement Agency obtained titled to 2006 Mercedes-Benz R350 station wagon pursuant to property forfeiture under Texas Code of Criminal Procedure Article 59.06; and WHEREAS, Borrower, a County Agency has requested loan of the 2006 Mercedes- Benz R350 station wagon pursuant to Texas Code of Criminal Procedure Article 59.06. NOW, THEREFORE, in consideration of the mutual covenants hereinafter contained and other good and valuable consideration, Borrower and Lender do hereby agree as follows: Article I. Vehicle on Loan 2006 Mercedes-Benz R350 station wagon (hereinafter called "Motor Vehicle") The asset forfeiture cause number is 2014-DCV- 5978-D. The CCPD police report number is 1410290137. Estimated fair market value $5,569 Article 11. Borrower's Obligations In consideration of Lender loaning the above described motor vehicle, Borrower accepts full responsibility and agrees: 1. to ensure that the Motor Vehicle is used in a proper manner and only driven by persons that have a valid driver's license; 2. to report to the nearest law enforcement agency and inform the Lender within 48 (forty eight) hours of any damage to or loss of the Motor Vehicle; 3. to maintain, service, and repair the Motor Vehicle at Borrower's expense; Page 1 of 3 2016-357 8/12/16 Nueces County INDEXED 4. to ensure that the Motor Vehicle has a valid State of Texas registration sticker; 5. to be responsible for all fees, fines, charges or taxes assessed against the Motor Vehicle by any government authority; 6. to keep the Motor Vehicle free of all seizures, confiscations, priorities, liens, charges, and encumbrances; 7. to ensure that the Motor Vehicle is only used for official business of the Nueces County District Attorney's Office; 8. to yield the Motor Vehicle to the Borrower in good mechanical condition on the expiration of the agreement, with exception for normal wear and tear of the same; and 9. to keep the Motor Vehicle comprehensively insured throughout the duration of this agreement. Article Ill. Insurance At all times during the term of this loan agreement, Borrower will obtain and maintain, at Borrower's expense, any automobile insurance coverage for the Motor Vehicle that is required by law. Additionally, the Certificate must state that the City of Corpus Christi Risk Manager will be given at least thirty (30) days' notice, by certified mail, of cancellation, material change in the coverage's or intent not to renew any of the policy(s). The City of Corpus Christi must be named as an Additional Insured on the automobile insurance policy(s) by endorsement and a waiver of subrogation by endorsement is required. Borrower shall provide copies of the policy(s) or evidence of insurance to City of Corpus Christi Risk Manager. City of Corpus Christi Attn: Risk Manager P.O. Box 9277 Corpus Christi, TX 78469-9277 Article IV. Duration Agreement shall commence on execution and continue for one year. The agreement automatically renews for one year unless terminated or revoked. Article V.Termination This agreement shall continue for as long as the Borrower uses the Motor Vehicle for official business. Either party may terminate this agreement at their convenience with Page 2of3 written notice. Upon receipt of written notice, borrower must return the Motor Vehicle before the seventh day after the date notices is received. Additionally, this loan may be revoked at any time by the Corpus Christi City Council. Upon receipt of written notice, borrower must return the Motor Vehicle before the seventh day after the date notices is received. Upon termination or revocation of the loan agreement, the Motor Vehicle may be sold by Lender and the proceeds distributed 80 °I° to the Corpus Christi Police Department and 20% to the Nueces County District Attorney pursuant to the Local Agreement for Asset Forfeiture Cases. IN WITNESS WHEREOF, the parties to this agreement hereby enter into this agreement as dated below. • Nueces County - .: ;ATTEST: (-) :— ...... Gi<cvas•-c4) Samuel L. Ne. , Jr. ................ Kara Sands County Ju ge County Ci k Date: 3 2449 tp Date: /30.01(4* Corpus Christi Police Department Nueces County District Attorney's Office 1 / Mike Markle Mark Skurka Chief of Police District Attorney Date: Date: APPROVED AS TO LEGAL FORM: I -(1—(6 Buck Brice (Date) Assistant City Attorney For City Attorney Page 3 of 3