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EQUIPMENT LOAN AGREEMENT <br />BETWEEN THE CITY OF ORONO AND THE CITY OF LONG LAKE FOR USE BY <br />THE LONG LAKE FIRE DEPARTMENT <br /> <br /> <br />This agreement (“Agreement”) is made and entered into by and between the City of <br />Orono, Minnesota (the “Lender”) and the City of Long Lake, Minnesota (the “Borrower”). <br /> <br />1. Loaned Equipment. In exchange for good and valuable consideration, the sufficiency and <br />receipt of which is hereby acknowledged, the Lender agrees to loan the following equipment (the <br />“Equipment”) to the Borrower: <br /> <br /> Vehicle Vin Description <br />a. CMD 1GSKLED6NR301737 2022 Chevy Tahoe <br /> <br />2. Fees. No fee shall be paid by the Borrower for the use of the Equipment. <br /> <br />3. Term. The Borrower shall be entitled to use the Equipment until December 31st, 2025 or <br />until the Lender recalls the Equipment or the Borrower returns the Equipment, whichever date is <br />the earliest. The Lender may recall the Equipment at any time with 180 days notice. The Lender <br />and any officer, employee or agent of the Lender may not be held liable for recalling the <br />Equipment. <br /> <br />4. Return of Equipment. The Borrower is responsible for examining the Equipment prior to <br />receiving it from the Lender and must return the Equipment in the same condition in which it <br />was received, except normal wear and tear. Any Equipment using fuel or other fluids must be <br />returned with the same level of fuel that the Equipment had when loaned to the Borrower. <br /> <br />5. Routine Maintenance. The Borrower is responsible for any routine maintenance required to <br />operate the Equipment while in the Borrower’s possession. Routine maintenance would include <br />fuel, lubricants, fluids, repair of a flat tire, and other items that are typically incidental to the use <br />of the Equipment. <br /> <br />6. Trained Personnel. The Borrower agrees that only trained personnel shall be allowed to <br />operate the Equipment. <br /> <br />7. Transportation. The Borrower shall be responsible for transporting the Equipment to and <br />from the Borrower’s location. <br /> <br />8. Storage. Borrower shall store the Equipment in a safe place while in the Borrower’s <br />possession. <br /> <br />9. Insurance. The Borrower agrees to maintain the appropriate automobile, property and <br />liability coverages with the League of Minnesota Cities Insurance Trust under standard LMCIT <br />liability coverage forms. The Borrower shall add the Lender as an “additional insured” to the <br />Borrower’s liability coverage for purposes of this Agreement. The Borrower’s coverage shall be