Kentucky Agreement to Lease Equipment (with Warranty) by and between The Magdovitz Family Trust and KY
USA Energy, Inc. dated July 18, 2008
KENTUCKY AGREEMENT TO LEASE EQUIPMENT (with Warranty)
THIS AGREEMENT TO LEASE EQUIPMENT (“Lease”) is made and effective this 18
day of July,
2008, by and between THE MAGDOVITZ FAMILY TRUST, Bernie Magdovitz, Trustee , of 901
Harbor Drive, Belleair Beach, Florida, 33786, hereinafter referred to as LESSOR, and KY USA ENERGY,
INC., a Kentucky Corporation, of P. O. Box 3008, London, Kentucky, 40743, hereinafter referred to as
LESSOR desires to lease to LESSEE, and LESSEE desires to lease from LESSOR, certain tangible
NOW, THEREFORE, in consideration of the mutual covenants and promises hereinafter set forth, the
parties hereto agree as follows:
LESSOR hereby leases to LESSEE, and LESSEE hereby leases from LESSOR, the following described
equipment (the “Equipment”): All equipment listed in Attachment #1.
The term of this Lease shall commence on the ____ day of ____________, 2008, and shall expires
forty-two (42) months thereafter.
LESSEE shall be responsible for shipping the Equipment to LESSEE’S premises.
The monthly rent for the Equipment shall be paid in advance in installments of $7,318.91 each month,
beginning on August 1, 2008 and on the first day of each succeeding month throughout the term hereof, at 901
Harbor Drive, Belleair Beach, Florida 33786, or at such other place as LESSOR may designate from time to
time. Any installment payment not made by the tenth (10 th ) day of the month shall be considered overdue and
in addition to LESSOR’S other remedies, LESSOR may levy a late payment charge equal to five percent (5%)
per month on any overdue amount. Rent for any partial month shall be prorated.
LESSEE shall use the Equipment in a careful and proper manner and shall comply with and conform to all