ASCEND CREDIT CORPORATION GRAND SLAM LEASE AGREEMENT # GS-587
U.S. Version GS Lease - 30 Month Term
Legal Business Name (Lessee): SoftTek Technologies, Inc.
D.B.A. (if any): SoftTek, Inc.
Lessee Address: 14471 Chambers Road, Suite 105 Tustin, CA 92780
Equipment Location (if different from above):
This Lease Agreement ("Lease") is entered into by and between Ascend Credit Corporation ("ACC"), a
California Corporation, and Lessee. Lessee and ACC may, from time to time, enter into similar Lease
agreements for the Lease of equipment which collectively with this Lease are Leases ("Leases").
LEASE: ACC agrees to Lease to Lessee, and Lessee agrees to Lease from ACC, the equipment referenced
LEASE COMMENCEMENT DATE: The Lease Commencement Date shall be the date the Equipment is
shipped by Ascend Communications, Inc acend") or its authorized reseller ("Reseller") as evidenced by a
shipping document provided by Ascend or Reseller related to the Equipment.
LEASE TERM: Lessee will pay Lease payments on a prorated monthly basis for the period beginning 90 days
after the Lease Commencement Date until the next 15th day of the calendar month and thereafter for each
consecutive month of the Lease Term. After the initalm, and until Lessee returns the Equipment to ACC, the
Lease shall continue on a month-to-month basis, unless Lessee has notified ACC of its intent to purchase the
equipment by paying the herin Market Value (FMV) of the Equipment. The FMV of the Equipment shall be
equal to the value of the Equipment installed and in use, with consideration given to the age, condition, utility and
replacement costs for the Equipment.
WARRANTIES. ACC MAKES NO REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS
OR IMPLIED, WITH RESPECT TO ANY OF THE EQUIPMENT, ITS MERCHANTABILITY, OR ITS
FITNESS FOR A PARTICULAR PURPOSE. ACC SHALL NOT BE LIABLE TO LESSEE OR ANY
OTHER PERSON FOR DIRECT, INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL
DAMAGES ARISING FROM LESSEE'S USE OF T