The URL can be used to link to this page

Home My WebLink About EQUIPMENT LEASE-PURCHASE AGREEMENT BANCORP FINANCE075H V4 EQUIPMEW ILE. Fhn 5juipment I caso iNggccnicnt the "A l 'Jai�kl 'i" of is mered iniv between Bancorp South Fquipmcnt Fnianc, divisioll (it Rancoij)Soulii li; idw - IxssxmA whose Principal (licivin � o callcci . ic:eatcd a! hV �. - d Ifil 1 and Augusta, Gempia , (to "I es��ec"i, the Oovernin Holt of the ) in consideration of the rental pro\ ided hercm, oni,i tho oth- i 1: Cnal Y" ts Main. Own hereby agmes to lease and rent 1�) hor'.-in' 4gn�' " to i"-,r4c ',"i:11; froin Lesso--' ah IhL machincr\ I Lquipment and t)thc7 porwaral propenv 1"Injuip411ew"; duscgibed in Equipment Na se Schedi.de(sl Miquipment Adiednios") now , ft': , "'�:rca " 1.�-SL�or and Lcsso�-: anti altached heivio 411111 Ockiponnod harcm A MOrwc: ax 1'- °;. ON 11 upu We wnns anti coiRlitions so foritl� ij; ihis - h ipi -'. and ':onditions set fol ill 111V appropl-a'��" Lqu'. inelt 'S'chcduc cite' idonif,ing sWi ol' I and swh odwr EqApnent SC110.iLl-Cs is 1 nc L 0, LONSU and 'Ind a ched li-,rcto ;ind incorporated licrein b c;eronk -, The ShyAwis of Lossor and nl1dL'!' ltli," il: wonunewo mum the exoMon kreof [r, Les�,or and Imssec and MH k :it -Io��c of :,I' and at th, CIIO,C Of Oc-ICII SUCCeedill i'co \tiuch ni-i% 1 wvd as providcd for in Section 36-60- 1 ', k)" the 01 - -fl Cod J e cor !"a Annowd. Vhc runwi zenn of ific Equipment listed in each I qUil �ChCdUiC 'hJli COI %M IN daw ihai dic ronial payinent is due as Iwm in the Fqnpirki. and zhah tornlin at .`,K' J(L-e 01' IhC C,'110ndal Veal ill Which the relval payment i? duo - 'viii all the end k"! 'ach calmly year as pAnAW in the Fqlpniont Schoduiv H acwalancc ugh AvOW 30"WT V tile Of ficiai Codo of Georgia Annotaled. Thi`; -V -,hall 'ho - vli or; 'A ba-sis e. 1111th calic;J1.11ion, by 'pro"idcd �01' 1! A. Roma; Payments. Ple wnt for the n '�Cheduic -h'�il 1'!0 tho N'S Simi Slat�!d OD sUch liquipment Schedule. in inl aHniamn mid WE 11-�: J?1" 'md '1! Jld Jalos 'onh thcreiii- A porthmi ?t each Ntwh rontai minsw K paid t-.. :210 ;1 pavin"I of and eaCh ILHPIIICII( S':hedtik� �:i's for'h appiicah` :i` 1 .wii of eacli rental paymcni: pro-!dcd -onl' iZwkvl w chang: as pn" Kind in Pamgmph i _ 'lie h! Awl Andl k nvabahl�- ll!ri(k ot'llic Lewsse in lawful nioney oi'thc AM An". "Aloui 'not;cc 17' d,'Inalwi. I 'IIc 1 Oft'ice or the Lessor or its assigns tor ai suc othcr zi� [,:ssor wo 011 14 tinf"" kic"grlwo in mOdng, The revep of any Wh w Awr aim w mc _;.i ramaj mvr= W not 1)c- as pyllli'Jll 1116l I ` - 1 i, 111e .1 ',-'! F, i ionor'�J - ""kk:n AH iviltal pa,ajnevos hall he noA b% 16 La"e, "ohnii, ANHOMON, NI OK �v dedihMon Wall, runwits whatsoe�er. The o"Niew:010VI asswe U pns IVII! 11i,-'re I Corrent i \pensc c and shall not !i 1 d,- k 1, "cc in woml 4 any applicable constitmional 'v S""cmicr .i"1111'ation c-5- . on T'.!'. the cramim Wan hukbwdnns by Qssck:. 1. I1iiIil €3tlljl's o" LoasC by Lessee. (al Le;` loo 111LAIdS W "-vith Caicn TL• n. �2011di'ioi" "'nd ck'\• -'flani )*' this Aarcernent Wine the term hocof anc ic no ' v No rot ante u herender. -�.'ssco r'- asollahly believes that fcvally available funds of - ,III nrnollinl N'otlicien" "o lacks I - eunder shaH he blailled- I-essee agi :0i d"I;." ho 0 - -,.-) im:hldo n' its 1'0F "'Wh c titl-in2 flie terni of this Weariou all ran paynnns due howumbr An thk: wakWir year and to do all idler things neccssar y and lawtully jpki\'N;,-! i illve :'u"Ji ;101'liorl cl i�Qjvi QIWONCd tO obtain and linwide for lbrith R pay is k5humms due i'erel,-Idei. In die �:van ihat -,uch portion of the budget dua No Illy Aw reni pay marus two lulow 0 "'s mq appw%& the 1xwcq, at its expo 7 -'C, to ex"!uw t aH revle\%; and a0w, io have the rent paysious rehistatcd art(] appro\ed in the 11 -s in to niolke rmud tell ynnn"s :Or the M wnp of this Agreement until tenuhumd if Wds are legM Awilable Mrshi and hi No rep:ird 1. i 141 dw we of Wc Fqulp'.':-,"m. 11ti Csscnti<li 70 rs pvTa"- F1' ,--' n: and oconondc opwraW. i - i.f-• he C"en no funds, o! insufficient funds . Vfl al'! L' h aliv ,4hat.soever in run calendar vear I& ncrital 11,;e under ih!ti .\prewment. Men it! ,- , ;hall immediabliv nMitv 1'.0 "ss4}r ,)I io, a,'> c't' =1 1hil Aarcownt. all creatc no hinher WhigatkVif I essee as io suc NoWn yon and Wk he nall aw"' �' 0,ki, tO the 1 01' rental payments ['or %vhicl� !Irnd:; shia!; !Iavt: qTnTIAN MIJ. In 5treh C vall, (his :'Narreancill :Hall terillillalt'' k-i-, Ihk ia JL!� of inc . aiond'u '-ea: 14 .\ 17.4;? appropriations it C1. received without penalty Cn exponc 10 Uncon ;inv 1 i i i i d to SuCh to of this Agreaiicn:, Mhial., havk' r ., -':o; 1 l° !!l I I n thiS llalt NO 3k"i0i1 or to nmkQ renal paymews untie] Ag - Co I Awnaves sh2H wow to Ow beneth of twoob or is asignee. I to il'al portion ALrcenicn! whwh -,.,) '' \Cep*t as specifil" provid'd ill dl'.- last paragraph ofih' ' w, Te ova" -of -uc'n We agives to peaccably SUrroidicr pos co-, the kil its; of such toinination, packed f'(%r and Right prepaid and Murcd io an iocz - .',on k t ':'olnmall;li UMN AS, > damanawd by ixwor. L.essor whall have all legal ililCl CLIU I zllikl rcillcd'ios 10 Me n000"l 0 A jul liquipmew. Q Mawilswriding the foregving, Lessee agrees dwl A Wl nt 4 carical this Ngreernent under the promions A q0TamgnWk Q above if an, VInds a: 1ll1lIr rIJIed to it. (W by it, Rw Me acquisition" o: to am: � �ii— il -,',fli ;wl khring the icrin of this Agroewni qw moupy w I, inikkawn of wis to anv other amoionall,v sunilar equipment ot set , - %vill lect t sehe lypo. quarnin and Sur ph er of onch L'a;yWy ami ; t ' Um & K wul W whanzo dicruni Losvow will Wx Met sich Fok wwA hini. hikl '.i: ofalr\ ems"ing pUI tiltl MIA: Fhw QwTviow a "Wod WH he tholivored to Wee by Ac supo& Morcal lowc whal: acco pt nuci v, nk'.n EEtii 11 "klikercd and placed in �-'ood �11lil A. t ' tili.4 "r alit" add ii} this 'At - eement the so ninnher oT cach Acin A 4juipment .Ieze!) aut 10 "I (RIN W Ma" in such dcji\o ,hall not affi, ill t' o'( ihip the do c oNslivory to accelm such Fquipinow nd dobw an cowumd'i Notix;'e in the Corin altachedli as Fxhihit ;,.! defi-":i� u)u,; iv ? ' J 1 €i Le�, witilln ',I) days ofdcli\cry. In the ewnz the Equirmmit i� not acc.epted by Me Lessc� Wilhin 3H days from the date of deli\ery and such acceixan e is tni-ca,"onablY withhoiAl. V f e.ti t . i eSSo1 31 option, shall haw the right 11,� e:mc-A ih s Agreement. RAW to lh:- forlh in this paragmph, upon delivery of do FTAlown w Lcsxue. ? 1-cssw for We balance dUL' and OvVi`l: 10'_ - AIC F',LjJillnl 111. all --otwit'n-tanding iny d,:iect; 'n or 1'ailme of tile F-quipinell". Losscc, '\ ill, mpoli of l i _Ii iil,: 1 of Lessee (whethcr down jla 11101.1!, ki;,po-sit- 3i fuli 11111 price L hccon fuil-v uld liA)IC LludCr this Agreemcm with rc:,pc�i to Ow :Infil su,:h lime- a� lil's. Agi expires by its tems. Lemor shall have r") habihily Ar a% delav in jolhcr, I'miure h\ tile supplier to till tile Purchaw 01 ov 1, condino.-r-, thereof WsL, a it o "A Pay A mcs, duties and expmms oCj)aA iransportation. ai'd o0ier cha7gcs in conneWon \vhh the deliver`,', inmall 1, on. and use ,c.' the Quivinow, 1 _�. , ssor " oilh w purchase and lease LLILlil i Yider !hk A -tibicc" to h, ; ill :011 - .o Lc-. roaonable saliskiciion, o" "he 1ollokv'i! .:onditior, -; o (Isl'a�.:101'% to i �:SsuP, hal l have I" a full warranty t ill ol' ai�: sa t - in `q ed i1\ �Upplwr in t how o f ! o wmw covei g such itom ofl Liipincnl. t Lwow Sall have recowd an Wake describing ouch Awr o: Fqiq1menL A imi supp,!er ill r flic rc Katie price payable lo .,pecl (as l.wswor whall received mi ophlion of cot nsei w Lcsscc w Amm am! �ouhslalicc , io Qum io the effcct that such counsel has evanlin!_ Ilik A, mem a-A Much other documank and maners as he deettled necessary to reach tile s=h mmom. WWI shall include [lie followill i t dw rciprescrawUill and " ananties of 1 cmec conui:ned in ih .u ,r is ani "Al 11 he da1c thereof, Ni As Agreenlem has been duly audRwizcj, cxcctitekl md lasseo and conamm a %and amd hiridbg obligmion ofl-csNee enfor, in K wrms: (at) there aro no lwndng or tivemened actions X ~`oust• adnnjri�tvahve agency or other tribunal or body against Lessee ,01ich n1ak niateri.alk affect imsWIS Know-ii o:ondition or op rations, or which Cotild have any ciffcct "(gull Ike WiW PuAnimnso w wnAR of Ohs Aywenwm: il�.i 1"llero'l portion of' tile rental paylliclits du': twiculider 1.- :�Lmwl from Kend inc, mw w4wit pursimun m Pamgmph 100 a) of the Imental W m u2 t AW of AW as TIMILled, anti the 1 rwawim; reenkohms and rulim- thereunder (tlic "G(KY): ` Mate v\ here lilc EqUiplucilL is located as Set forth herein and is authorized by the Constitution and 3 lae Ns t, I - :h-': Stair ol kieurgia (the '*State") and its own internal ovr acfininistratiFc to inter into To iransictkins witemplated by this Agreement and to carilf ("tit I'l. 01fligation's a: (vi ) such other matters as Lessor may reasonably request. A 00 the dale thercoll no default (as detbied in Paragraph 23 hmok and no :.-venl vvhich vkith noOc or lapse of dino or bmin mvuld become a debtulL shaii hake occurred and be ammuiaig licuumier. and warramies Of imace muiv k€' K An! V Uine VU correct Al all material respects cin the date Memof, : A A inancing stme3i ent. in krin and substance SWiSMAY 10 QMOV in mpect of Awh Fo shall WVS been mcmed and tied in the appnImm ullem- Lasmor shall We r.' eh front Uwe witlen wite v" aempumce of the U Lvsmr NUB We received all other ckwurnems. insmunow. cerlilicates. Opinion', :ind as Lessor way reasonably ret]UeSt. xu. , an of Lesseq. Lossc; w1ovsom, myrim md covenants to Lcs�or that: V3 Qwe has bem duIv authorized by all necessary action on Te pan & Me UYN", wN pmeming body or other appropriate governing bodies and offilimik to cxocwc, delis or' and dhe ierm., of INs Agreement and 11irther represents that id procoitires ha%I.: uccurrcd that are necessary to ensure die entbrceabiiQ of M A.greement. ,nciuding i,:ss c`, i:omphancc voth any applicable public bidding requuenvents. '',- Yids ;\d�u%-emcm constitutes it le valid and bindim obi ign't1i In of I.Cssce. wrillorceabiv in wooSuice alth W lerms and does not connavene any Wase, hAnturn wedit agNanan or Mhoi -qITeLMCnl ;o �h ich Lessee is a pang or by i% hich it i bound, too Swre are no pendent or thrcatCIWLI ZIC11011., or p-(wee-Jings bk.`,I'ore any courl. ad 0 inintsirau apowy is odwr body "Tich may materially alket Lassew financial condition or �:ould ha%c any ClAct whalsoever qxon We valklity, per6wmance. or -'Cr-1 ofihir Aurccrnoni. �Jl -N.t 111' , � i= i t 0i- is roquired in k:onneoion i%ith the MCCU110D illId dclpei-N 1}1' this Apwmenl. is not in &iault (nor has any CACIII OCCUITCd ' 1i Ch.. Wili ial)Se of Ono. or Kiii, Anuid conminn: a dehuhi under ally agreement o!. in.si! to %, hich 1-e,Scc 1vany or all%' of its assets i's bound WITJ1 :0Uld D.IVC 4 v-, upon the validity, perjorniancc, or cnfiorceabilit� of' the terms of this A!�;rccnlent. rf There arc no outstanding or unpaid 'Lidgments at ains "c i _4- , t Las- c. Lc � cc has furnished 4) I I COP 01 CUrl 111 '�ialcnlclns and ::,\ccpl for transactions Llircc!IN related 14), or specifically contemplated hy. 111"s A"gn"enicni and act vto! ,rans, uon� ftt oj disciOsed in NAriting to Lessor. since the daws k? sucli financial ,,(alc'nents, OIL!re Ova Mn !b changes in the financial condition and operation; from Av shown in vuji Mancial swoments thwugh the date hereof "M YmOd We an, ellbut haboavor upon To Qvdiq4 perAwnumcc. or onforceabilitv of itcrr ofdir Ai- and rjai fact or condition relating to the filliank Jl�"ra i� ..'ti? maiL -al or busi1i11s OperalRain Ah"ce "Mi has = been rehned, in Wrifin to i,ess.- shail !'Llrnish io iNswo withAv 0 1 , days of the close of is calemlar VCMdUHnu the term oftims Agroeincin audito] Anancial siawmendand such odwr finvowmi state"wnts as the Lcoo? mav re jue�i [in to durini O d or t--. t'.. t urnished 1 !c lky MN ' dim d Avacn ieni. An y firunicial statement ! ,, 'urnkhc Lcsso7 `}1' ,ssu-,: ("Other audiod or mmuch shall be prepared i'.j -CClUdanCe 11cwPlAacavinong principles oonsimently applied and fairli present he 1non;.ni'd, �:,md and :vsuh, Mycarops of Assee al the daies and Ar the periods indicated ,hnvin. m ionsw is nvit losing the Lquipment Rv the 1 puturs and does no; v nun to any consumer use within the iriein oll avolicabi, ON& law. I ; l.asswc acknowledges and agrecs that the rental ha 5, Uson asynnmg i10 the inwrc*�l P01 01 each rental PavIll""W i!- exclup; 003n laderai Kim, iaxamm. Onva "Hl do oi rctfrani frorn doinp A things :10(.-as�ar xppropri:ac in"'Im: tin.a f!_ portion otAhe renal palweni is excnipt I . rom I ojerai iaxm.io--�. includblo i t lnn*: cd to - L:xocunng and Filing all informaiArn Y wc F. !c,7I in' Paragmph AM, of the Code and Ancly paying. to the extent W' a%aikiblc )ated 4 to Wood States pursuant to Nragmph 140f) i Vic Onciple vomon of the Allreernem. Men added P, die anunint of dab, Mrsuant its Article 100 Section IV. Pampralt i of Te Consritwior; o! M or' lia, Alc>:hy ONCON 10%of!h asso!�scd value of all M Ph: Agrocins, and the equipment comeniplated v bv Raw, has na ivc hich faile d to rccck 0 tile approval ol' t';>i \ ot,,-rs , 4 i.;2ms,:e:'A` prcC -Cfifll I'M11 year 'clkinowicdt:as that the repramentations, co\ a:ld v-:,Ir - "c - , for!"-, 7 - -,,I I -, -j a ation or dis Agwcmw and 151 : xaor nmy pasm :.Pinken Or the 11reavii of such reprcscmations. �-ONLT:Olt -niki vtim%o a! m ackno"Iedues that lynor has agreed its cw Kno lins 111e C'ndiliOn thdi -,.1 ;:erlaiii cxcinplion fr(1nn oxj And _.,,, ,. .., `s *! )t' thc ( odc, is . Said exception K Aiwi to covin comhtinim rc`Iatlnl" to S USC Of dl e EqQnciii and to Lesseel issuance of lix-excinra MitatiOnS. h! i 111i3[ regard. covonams and marrams that: (a) The Ap6prnem will not he used. chrectly or AMC!, in a trail,; oi busin'�'sS carrued on hy Any PMOVI MCI 111,311 al OVCF11111CIIIal unit, except dell'' Duch 11 e zl: a nic-rilb"r li th janerai puhAn ,r) porlion of Me remal papnovs payalAc homumWE 6, M 1v mcmK. K"IN or huhmak by pnTcrty Lmed (w to he used in a trade or business carricd on by a person ofl"er :hail ' _'.)vcrnmcnial unit, mcclm A such Use as a rnendwr or A prlhlik it Ir� pa il" iv"pccl ol' uclh proper >: or A i wYll be de6ved trom pa nionix, whethn or mi. to On= in ieVm of pnTcrty (w borrowed rnouey used or w he used Ar a Inkic or hominess aaKed on b anZ posm other than A jawernmenial unit. ic) N portion of the - IVOCCCLIS of the A wdl bc' iicd idirccn!y indircctiv i to ',l._ or finmec hvins to persons other than gover units 1"'Ic . -\ im: III is hcreby desQnawd as it qualifio.] +ax-exeinpi o hugation loo rpos I_cssel: rca-,onahl� anticipates that the amount d IIIdifi-ck! 3.1 ;.- exempt ohlig,oion 1% ismed hy Lessee flogether with LlUalified taVewnirl isSUcd 1_1�_ ally entim Rom NAU Once derives in issuing authority or any entity xhich has substantia! contrul Subordinala 'ntity iIeriving its issuing authoriv from if,c or ajl� subordinate eadi; suhkci to subsian6ai control by Lesseel during OIC CUrient �:aicndar yoir -Simili :K4 ONCe"! SMA"Sum" N. TAP "gramaLPapem"; l5notughmncy,. Ljon o! dic l"quilln"Clif o%t, 11 ar F.1i'lipmLlit Schedule hereto by Losses hereunder and salis"'Icti(!n olfiil! ':ondilions ?ii Crie =ii :0. W And I.:aNC'-j_)UrChaSc Of SUCK F(lifil)IIICTIZ !)-V provid;Ld ;':I Pamgmph 5 MmE vile io such l"quipi and any and all additions, or ; %\d; m in Lessee and [or PLII Of laws governing immon and k'ondifi('md Acc M P) to Equipment shall he deemed to he in Lessee: prm ided. ho-wc\ Cr_ ','hat t i t in thn o!' ie-r-11 nanim or ON kurcernent or (if an l7quipment Schodu o which omr ml, i 1: ak:�:'o'vdanc:- %%ith 1' - irugraph 4 11creof. ol (ii` upon till" o"curre"'c" "! ' F" 0'_ Defauh liar, undo. mi as km ' g as sudi avoin of Default is conthming Win +:1.,._ upw %vttoi cSskL imniodiatcl%, vest in 1-cssor or its as i+, ..I 1he 1"quipilicil" 'Zubject to this A ii dnki ,hail per onifl ln1 i w43av rVI be k4cmed lw be "'Iffixed to or a par" Of 01" r.-'A_ osIafc vvhi"+. '! iv MaICA m4whMamh, dial dic Equyncrit or any part thereof ma I)c - . , r bc' i:'. ;Y, nannn phy sic aQ Alved or attached v rod propmy or a, buildi,ig thcv_-oz, ina,+ ai me to Me requke Umsce to AWAL and Assay A& Mail 011d OR Or W' ao Amem in Me IVuQwnt by any present or jUlLre iand• yrd. o"rim OF Lance agmes a, keep cach item of Equipment at all iinics 1' cc and cloir ftom all 6 CLII:ns, le% i, : 'Ind process odor tan dwse in favor of I assor puNuarn to Has Ammemem L essee will mit atternpi 0 sell, assign. imnsRs. sublease, imm, part with pose"hwo of- Coriccal, nIongaVe. encunmr. or oherwise disIme of any or the FqutnwW or the inmsi therek ( ,iemmt any I it:n . anachimmi. WA or mectition of any of its creditorN to hccomv o*i thereon i if all Such !i, 1, �har�gc. lainl or encurnbra lice should arise at am 'inn. �diail prompfll, its iol.cn cti1m1^n take much action at nray be necessary 10 duly diSChJrgQ Saule) , PFOVidcd. Lcssce liw dclivcr pos.session of anN itern of Fquipmem 03, the n1J [ILI IaCtUrcr ('IF supph;�r 1,hvr,�of tor tcsturi) oflwr - com service, or , sunilar purposes or to any person o� tpany I'm ;eli Inailuellance, or overhaul work on such itern (it' F+611111011 or nhcrationt , or or add;iiont io such itern of Equipmem to the extent required or perrim"al by ar, provisiorl 11IN Agreement. Lessee. at its cxperise. will protect ird 6fle to j imu"Mcm. T lAwAnon. Vie FqJpmov shall be delkercd to the iocaiwn �,pccii`icd in, Ott: ,Ippiicabic E�,Uiptliom Sehedulc : and shall not be removed from such iocation the Pnor Xru4"l conv of Pf Qv: R,pairs, LeSS.: Sllafl USe the Equipment in a (:a-reful shail Comply %luh all orcinanees and reguinhim rchiting un arld shall pay I![ c:osts. ciamiN_ dank ages� !c:ct and out o; its 110s'sesSion. use or maintenance, L-Cso.-C. 11 il� Nhall keep in gothi rcrair and furnish all parts. niocliani',111� 111d ','S rCkjUIFt.-,d MOON 1. lhsvi 1 wssce zwrces to pay', promptly when due, 1JI as7� -srneni:-, hc;m,c and ItiistI` <itl )t} !et:N. mew (including sales, use, excise- personal pRqwrt>, ad Worenn marrip. docuni.:ntarw and other !axes; and all other goverrunental charia S. fv-cs. imes i penaltic:'+ whaisoe wil"1,11'r 11,ivable lv4 Le"Sor or I-esSec. oil (IF reljlim�.: to hc 1'.quipmen". or the mvntrsiiip. posession, operation. use (IF disposinni thercol. aw tin or VMS, to dus Agreement lot the rent w other paymorts hereunder texcludme mes on or iwamn i11 wwo of : oNs and oxcluding any sales or use tax rur".-d'ic to amplin or by 111C Les"Or oil the 'Ietluisi'lion oftlic Cio , ,\hlch :I�:Jit undl�.Ir Ti tle 4, of (lie Official Codo of WmWia ♦Annowed_ a, nniarhi"i. against Ous taxes �ollectcc by the Li:ssor from the on dirk: penodi5. rent _:)d lo and flit_' promptly kvidi the appropriaic any: < utd ii4 I r"mirod lo k: 00 wh .:sped thereii-) (sendin'! copies thereof' to Les,( I "I" kv a m-mv ONwr Xmich rewurement md SmAh Wor "Ah all HOrmnAw ra by o "Ah-I it tin Met such Whig. 4 lessee tails to pay sak chary> ami <i.`„ y> dt-W". ti,h.dl nol he oblillatcl to pay W clha;y, a:id pays Too. to Mcr gmennuellml chaiges for I,, ;2sponsiikk� wr Whiv purnuin lo Wo forcmk , shall reimburse Lessor ,hore4or wkwo 5 da•, ancr ,iell } _tnd U anw,mus vidor this paragraph (tither than interest) payaoi: a, 1 eson shali he Compmaj w an - a&, tax" 'iii l a that such Imyrnetits 561 be At wi amoun Wah. "hw. 7edu,% 6%. 1!) div inctano taN liability or BMW of Lessor ifam a a romh to' such "} v Eii n t shall equ:il the after-lax Cost of the 1,11:. E. by fl)t: I _ -FedQralFaxanon, the Nnor Ulm, cmt�i% iPk,*0Mt_' laxation, 'Ili':Ics, pumon of rental pqrrients will fit: �:xcinpt f N it) fh ., evem 1314 taming authority SUCCCSSl'Ull\' imposes tax ireatment. under this A.-.reonoit or any odwr lease ()f the Lessor Which, in the opi"on of twool's CMUSel. W hi of ta irealment under this Allreel ent. which differs Cron. thc ta\ treatment 1:7 ill;.- I.e-sor hereto at the incaPtion of Wil Agreement or which ,,!TeCtivo LICIfic", ;,I in,: Lossor the use or benet 01 sUCII ta\ lrea( a-> eontcnlplated. inJuding, but no Wided a the taxabilit\ of the inio portion of (11C renlzd pw, nn�:ws Caused by the non-appllicability of KA Section 103(a) or the demal under Colic Scciion 2(15(b). o!'a Jtiduction 1 o; - :i ponion of Werest expense of Invor. the affil mal wt?; p a.1s defined in (4de Act% 155ha) 4 which Lessor is a member, or any separate mollbe 01111C al 121 01' %vilich I,Cssor is a nlell then Lessee agrees to pay rents with an nitl.,rest fa ctor stitlai to the rnaxim ral c or inicrem which. under applicabic law. tessor is rlern to ch'ar"ge- rctroactl,% Cly 1ronn, tt'fccti\ date (if imposition of the change, of tay Ii ,hrough the term of A. Agrconnin thmn; which the change of tax (rcati is hnposcd %kith credit living jAven Ar rentoll pali:noits ha ;in� �4 alread\ been made b Lence diaring Ow 1wi in Wch be change is imposed. and subsequenfly thereto, as rental payments would oth, r hoconle due, umillhe end of the WaNe ienm Any retroactive payments of roil Lludo this para , raph shail he due and ;myable at fhe Ale that Lessor gbcs notice to Levee ot'imposition tat` ih�-- chaique o! 'tax t . I I mcnT. Le"ve agrees to pay its pin-rala share of attorney's I - eev; bat ma\ be hicun by nss,or in the event iCgal action or administrative 'action is talk - en k% the Li :ssor suur;, 1%- ii%:aimeni imended to be taken by Lessor Under this Agrec or any other lease "Tich in the oiii of Lessor's counsel will be doo of tile iax 11 Under Illi." Agreement whadwr Alch amon is nuiccessU or no. Lessee's pro-nata share shall he _ietcrjmnmi I)y ihe Out the Wor's original co of the Fquipment hen- to 111�. total ori�_- Cos; ?f 1c; l a.�ed for all other sinlilar lea es of the LevOr IIIVOIVIII�'! SHnj!Jr Of fact 01 law. I !he :lot); iiii' i-,:ss')r is successibi in sum the tax treatmml AnciaWd 4- A %W by L shS reWnd in) Wee the iota! aniount of increased. inierl.'st tas hereinalwfve j1ro\ t,thwh, has Wcn Imid by Lessco and rental payrnerlis for "he it-a sc tcr-,Ii -41ad ?%, ill, a pccified in the Equipment Schedules. nw of ElApnong lns; Les�sQc may posses', ,Iuld use ihce 1:' ln:n :n- vith pro% that any such use is in conl'orniivv -k J; i1<jT11Cable lawc roulawnk adinances, ain insurance ImMles and a y "anandes Cif" tale mmiubcan or in the F.qu;p; Lessee will not use or (--,p:ratc wher W in a i and IN the use contemplated by file inanufaeturc- or suppii,�i thcreof, o 31 i'ihli. m-, Mor Clam the LessLe's aw a horized 2olts or dl 1 oi Let sol`s dgcni shall We the rQhI upon reasunawk pnor nows ni Vc !,"ee and thwin the 1. s ugular bumns hours in input die 1"quiptilcili ...: lit` !)ICn'.lsL:s of IhL i-assew in' fl 9 kItlip:1 N. located. Lcs-,cc Sliall rrompily nolii' 'i C-ssor tit :?t= k",tT � V- Jialli!e ill location 01 tile EqUipilICIII, :111V res 1roin tile use or opci 9111 'CO a lnalorial!-, ! )al! item of F and ajlly ;'l J,_11.,4t,j 911 , .A F?,r ( Va=,; 14. j1IIJI,wicy. LC.SSCC acknowledges and agrees that: im each item of the Equipment is of a size, di;iium. Lc';nacisl and nianutitclurc select ed b, l_eno,:: dint the l'quip ment. ami .'deft a`ot 'ipmou 0wroull is for its purpose; Such kind; ,._'S•. ii• iii .liL �1i�iilt:l3ic'tUl`i "s' 1�l fh. L'.Ciail'Iit,,,, ,�r ;! Cl.,:ta:i + �'t'�r'i i�, Q 1 assor shall have nee obli gation to accept ant item o f th I gtiillnlent from any seller ihcreoi until dint hon of Fqui meat is accepted In Lessee; and t e 1 the An ceoing nonvilhsfaml Lessee shall indcmiiifi Lesso and hold l_ s�or llani lc<�; fr om and ;li? any and all iosses and liab ilities which nuly arTs t -'onl l,e<see'S fililUre fir any 7:, to ac,:ej)l an. itctli of the F.LIUip llletlt. `. Nlauit::rancc. Wacc will pay for aml provide all utilities L:onsUnled 1 0v or required for t;le E quirmiclit or ➢JSc thereof.. including, but ilot Ihnited to, water gas, ejoctrical ;'sower. oil, ga ghie. ;it d lubricants. Lessee. at its side expense, at all tirnQs duritl`;.T, the terin of this A greement, A udi nmita Wn the EgUlpInCrIt and all additions, atta chiilcnt4 and itccossions thereto in mood opermin!g order, repair. condition, an app earance, and keep the same protected from tilt: Ietncnts, ordinai : :V;:ar an tear rchiltlllg Worn authorized use thereof alone txeepted aild shall make all Ilct�,:s arti repairs and replacements to the Equipment. lf' the mani. fitcturer of be FMuiprilelll hai voyided Ltssce with a standard maintenance schedtIe. SUCII Schedule will € nSti tit C: rlailai111U111 Maintenance cornplii1 we aIld l swe upon reti wm. "iii hwnbh L.tssor whii lkl1i:iirr mdei'.cc o *: uch :omplitancc. In furtherance of the inainienance +:7i ?lie EgUipin ill, Lessee ag ccS_ if requested by l_.esmir, to enter Into and maintain iii force a Niaintcriance Agreement with the Illanufacturer or it person (who illay be a SU pplicr! atlt?rovcd by the manufacture,' pro viding Wr the niahnenance of the E:quipmel1t for specified iU'111S Of l =quit silent). In rile event t :s, 4 e i, IegUOStcil to enter into such a Pd airriem ilce Agr Lessee agrees to do all thin Win it p(mer 10 cause each %laintellan Ag- reement to he c omplied whh in all respects by i,essce, rind the ether party thereto; and Lessor he reby authorises ysu,:h other Mart\ tilcrei+i to a[xept tie direction of Lessee in respect to such N'I iiI1 , Q Ail MaintL31:1 c,: and s ervice charges. whether pursuaIlt to such Nlaiil':enance Agreeiilent or othonk'i *e, �Jhall be `odic hV I essee. 10. A_Ne itiol y and Re It rs Lessee shall not. without the prior `:4''ltlell _`on4tnl: of l e`so- (which may he "ithlleld mi or ""hoot cause), make any" repair or alWration to or Install lift acc20"' mi. 'equipment. or dct iee 011 the Equipment or any component thereof whic interferc,, 'pith the nomad and satisfactory operation or mai ntenance iheico f, or crates it safety ha /ard, o %Nhich mi result in the creation of inechanic or maicrialmall'S iici1 with r;:`I)c.ct therct o.:`;li pars a nd anachmeras (whether neu or re placed) at any tilde i nmallod in o affixed to the liquipment � :onstitiite accessions t and Mull lie the liropertt' of l cssor (excopt it erns tl'ilich are lurnislled or affixed by Lessee and mats be rmioVcd without iii an , t'<'<ay 1f fcelint! or ,'tl piimmg the original intended function or use Of the FAjUlp )lent 01 111' LclnlpOnctl( thcreol' and are readd -v r:tl ovabie by Lessee without causing material c aniage to the L''quipincnt), f " Disclaimer of 1Wr'arranttes. Exc%Og of Liability LESSOR, NOT BEING THE 9 NIANUFACTURFK OF THE HQUIPN4ENT NOR TFIF NVIANLTACTURF. NGFNT, MAKF,'i NO FX1 OR IN11TIF-D %VARR_NNTY OF ANN Kl\D ),VJlA'FS0FVFR W11 TO 11111 lQUIWITNT, INCLUDING BUT NOT LINUTED To: THE NIFITUIANTAHILITY OFTHE ITOUPWINT OR ITS FITNESS IFOR ANY PAR'FWt,,T,i PURPOSK FIT IDFSIGNN 01Z CONDITION OF TIW FQL1117NIENT. THE QI AITFY OR CAPACHT OF TIT lit JI'll"JENT: TIIL PI RFORNAANCE OF 'ITF •QUIPkIEW KIF WORKNMANSHIP OR NI.-NIT.RJAL 114 DIF F(QUIPN4ENT: C_'0\1PLiAN(_+,' (-)I T11F. FOU11 kvrm THE REQUIRIVIINNTS 0F ANY LAW, RULF. SPECH'ICATION OR (WNTRACT PERTAINING THERETO: PA TENT INFRINGFMF'N OR LATENT DI-TECTS. ;NS T0 LF SSE F. LESSOR I.I-.ASI?S THE EQ17IP\-1FN AS IS." Lossoi shall leave !io ) Afli`,alion tc- illy item of EcIthpilMl. thmi any supplier diercx-,f Ull that item tit' louilsincni is aci:cptcd b-, Lessee- Lessor hereby assigns to Lessee. for and during, the term of :Jpphcabic I'actory warrantie& it any, eMwess or implied. issued rospect to the Equipment and vit,:h component ihrco1_. and Lessee will beAlbrogated to ifarly, aginq Te manutacturer or suppliC-1 Of the I-,LlLliplllCllt tOr bl Of Warranty 0V representantmi A wspect thereto. Lessor authorizes Lessee to obtain the customary services l'urnished, in . :ornwciion wifli such v, and U arantees at Loss Q's xpense, Lessor `;o criforce in its own name ally warranty, rent-csentatic!n or , :)ther tJaini enforccabic agairmi the manufacturer. Lessor assurnes tit) re for shipnwni� delivery, ,n-;l aHu1i0l ". nnlintcnance arii all cohns or Lessee with reipect iticrciu. wh1 :thcr Wr delay, or odici Aall be made agahist supplier. Lessor. at its option- may provide ill is purchase Order that supplier agrees that any of such claims may Ine made by IlLessec directly a'.aillst suppiicrs, File obligation of Lessee to pay the rental payinons shall not be abated. minaired or rcduccd by raison of any Jahns or we ixece mi respect to F_quipnievi, condition. duality. workmanship. ?Aire, shipment, installation, deNcts or olerwise. Now ith-.tariding the forqgomg, 1 .d o bli g ,, a ti ons t pay the rentals or otherwise UlldCT_ this LCaSQ qhall be and are abmime and unamAdonal. All proceed,; of idly SUCh warrant): recovery 1roin the inanul'actUrer or supplier -of the En,lipmenl. shall he Pro used to repair the affected Equipment. In no event YOM! Lessor be liable to Lessec IN loss of anticipatory proPts or all- other direct. indirc�:t, �1K'Cial or ill ial dalllages. is. B t ' Loss, All risk of loss theft. daniaoc or destruction to each i1cill of Equipment shall be honic fly' Lessee, No such loss. theft. dalllagc or desirlicuon of HIC liquipuicni. in whlc s in part Jail impair the obligations of Ly"ce tinder Ohs Agwonem, Ai ! if which shall umnirnue V trill Gve and elka and Le see, at Lessor's option. shall either: (a) place the affected Equipment in good repair, condition and working order; il ropinco the sanie v, like F,quipmont in good repair, xondition and workim Order ( 011 doctinivIllatl0l', establishing clear title therein in Lesson. OT im pay w Wsor an amount equal it) the purchase (lawn price as prescribed A) lmmgraph 21 le the net ally nmt of the recovery. if :lily, actually rocek-.'ed by Lessor horn insuanwe owheryy .isc i61 Stich loss, thC11, damage or (lest n let ioll. , `j_ InSLU Lessec shall keep the liquipment insured against ioss, ilieft, dam.qze or destruction frOnl C%CF% :ZUISC Wha1SoCVCr tk')] not JCSs then full replacement ',':Mlle lhemok and , 41,0 1 1 carry, poblic Wkility and property' Wage insurance coveriri� ilit: Equiprincrit and its uSc 1 with e )nipanies appro)yed by the Lessor. All Stich insurance shall be in the print nanies of Lessor and lessee. with Lcssor and Lessee named as hiss payees. as their -interests may appear. shall provide that Lessor S hall receive not les than 0 days' notice orally Ierinination, cancellation or alteration oi thc, tours thereof and that the coverage afforded Lessor shall not lYe rescitldcd, inapair;d or Walidated Q any act or neglect of` Lessee, and otlleriyise shall be iii lorni and amount and %V11,11 etrlllp Irlies approved by Lesser. Lessee shall pay the lire€lmalis therefor and delivery said noit ics, or duplicates thereof o r ce ofcoveraltc t crewider.. to t.t'ti all. t h T.lc proceeds of ha /ard ill,uraricc shall. tit the option of Lessor, he applied toNvard tlic repair or repheellleni of 't_quiptnent or the payment of the eblbMitvis of Lessee heieundci. as set firth in Pame mph is The proceeds of any public liability or property damage insurance :hall he paiyaNe first to ! , ssor to the extent of Its liability. Ir any, and the balance to Lessee. lessee hereby appoints 1 css }r as Less .'s a uorney-itl- fact to i1lal e claim for. receive l aymen! tit'. Jill ext, ilr ,,ndt"nse all douinlons. checks or drafts for loss or damage under any `elide ptilic L% 'h. Lhon e and Taxes. In addition it) other payments to be made pursuant to this Agreement. Less,.,, .shall pay f.essor, as additional payment, on demand. an amount eclual W all tleens�, :i , � lllei ?€ ,tiles, use, real or per sonae property, Tgx receipts or other assconients', taxes, ;_ , millosts. duties and charges. it any together with any pciialtl s, rules or interest. theretln Snipos.:d aglinst or on Lessor. Lessee or th Equipment by a ny `vovernnlcntal authority uptin or M O. respect a) the Etlurpnient or the purchase, ownership, posscssion, operation, return Or calf: of, or receipt Of payllieilts for.. the FgLlil)ll)Clll, except any Federal or State income taxes, it acne, patiable 1 � Lessor. Lessee may contest any such taxes prior io payment provided such ontest doe, not involve any risk of sale. forfeiture or loss of the l--eluipment ( any interest therein. . PI-pa Purchase. At the end cif the lease terin for kkluipmem coy ercd by tell Equipment Schedu c, provided all rental payments have been niade under such F.Clulpillent Schedule and there is n o default or event which with the giving of notice or lapse of €inie, or bt?th, Could 1 ;?eCk)n_IV a defaldt Under the Agreement. aln1 int _'rest of L ,;' stir t1 ills f'.tllupment. Subject to smell l'„Slipincnt Schedule shrill be transferred to the Lessee t rcieased. Pro\ ided all ronial paynitnt, under this :\grcenaent are paid to date, Lessee may prepay Or l_tlnipment under ail Equip ni ;`+chedlik' and purchase the interest of Lessor in the Fquipnicilt at the erld of any mouth durum! the te.ls . tennil bti payment cif: ,o the outstanding principal balance due under the. Am ortization Schedule allaiched to the a,zplicablc. Equipment Schedule (or any substitute amolcization schedule in effect ill aecordain, t,. G%; h Par3g m 12 f plus accrued interest to date, «� :fie' ttg2 of ally required inspections, eyarninaIions. or certifications of the l'quipincm: and `c lilt' coo of any repair,. modifications, or adjustments rapired a s a resuh or the in,pe cut'''s, o\aill at' <`ns. or certifications referred to i (h) above. '- iuch option Shall be exercisable by vanten not cc to Lessor not less than 30 days prior zo the prepatiincnt porthatit'. date.. The c hWng shall be held on the.: specif pre purchase d ote, or on the Elect folfowin =s business day if such dray is a Saturday, Stnlday or ier al holiday, at lilt' Principal t)tflces or Lesser, ait 11'hich tine I cssor shall deliver io Lessee a release of any interest oI tile Lessor in the I quipincnt subiect to such F ctuip iricnt schedule to Lessee. Upon payment in full of all amounts due with respect to all Equipimmi identified in , i particular F quipment Scheduk and release o any interest by the Lessor of its interest in such Equipment it;) the Le,�ec. this AgIVOlncin shall tcni xvith respect to such Equipment for vhich payment has been made rn filll (belt shall remain in force with respect to any other f1luipmtnt identified in 'Inothcr I`quipirent Schedule for which payment in hill has not been Iliadc1. Swcurity interest. To secure all of its obfii~ations hereunder l:esscc _rants it) I.cssor a first and phor sccur# interest In any and all tight and interest cif L.esse ` In the E:iquiprn nt.. the rlgret.•man and payments due tinder thi.:� Agreement. agrces that this Agreement may be filed as "s tmancin. s- uttenie t evidencing such security inter and agrees to cxec'inc and deliver all tinancing ,tatein ins and o dwr instruments necessary or appropri ue it) evidericc such security interest. Lessee Further aM=rees that the Uniform Commercial Code o f the State of tieor ?ia shall tipple as bowen the ladies hereto and assignees of Lessor. j. Default. The Lessee shall be in cie.fault under this Agreement upon tic occurrenci. of any o ilic Mos ng ei enis: tal nonpaNment "ten due or within 6 days thereafter ofan., installimcnt of'rent or odiLr suns o n ! retundcr: fb) bi - each of any taller covenant or atgmemtnt in this Agreement and the , XIMinliailt:.: Of `.dell brOacli for a perio of Ill eonsc.(:lillye days ft)'Jcv,?n <g 7 , cs ce receipt of` wriil4n nofic�° tlae ,'i ?i" from, Lessor: Y t c if any representation or w anwity made by t_es,cc or by zany agent or represent of lessee herein or in any documeIlt or eerlifieate furnished LessoI in conIle.ction Ilcrcic'ith or ri. rsuant her:`.t } proves to he inc o r rect at a thme hi any materhil iestwt: {ell i f I.i:ssce ,hall dissolve or become insolvent or bankrupt. commit any act of i?tnlltrlumm inmki.e any assignment tot° the bencht of, or enter into :Ill IiFr {frig mem or ompti5i on t'tlll creditors. uspcnd or terminate the transaction of its usual business or consent to file appointment ?'a onsice or receiver (if if trustee or receiver shall be appointed for Lessee or for a sub,tantiatl par! tat it property, or if bankruptcy, reorganization arran4.cni ,ter similar ;irOCL.4 A nl_ , 11 =`' 'N, +nstiluted b�, or a,_ Lessee: y t:ci It a my order. ;udglll rit or decree shrill be enterzd a.rainst 1 e sce bti a court of onmpetcnt jurisdiknon and such order. iud!ment or decree shall continue unpaid or inwads0ed for any period in �. \coss of ts(i consecutive days without a stay o ewcution, or it a wN oi' o rder of fiuwhmcm o::;cutimi a }r other legal prot:ess shall be issued in connection with any action :r pr()c" ag nsl Lessee or its property whereby any of the Equipnient or and substantial part or v swe's prTeny 1ilay be liken or restrained, t) I Lessee shaH default In the perlorniailce of ally" obligation or in the payment of ant still) chw it? the Lessor smil any other lease, con tract. agreement, aninigcment or undent tnchny, 12 +g) It anv indebtedness of Lessee for borrowed nicncv shall become due and payable by a, ccicration of the maturity date therc <if:. or (h t L.cssor. in the exercise of reasonable judgment., ;hall determine that Lessee is generally not paying its debts as such debts became dale. in addition., Lessee ,hal i -'ivc Lessor days' written notice p rior to the filing of any voluntary petition of bankruptcy, written notice upon Commenlement cat an involuntary bankruptcy proceeding. or written notice prior to taking lily' action with respect to the Equipment in bankruptcy proceedings, and shall include in said written notics the v mue of the Anticipated proceedings and a copy of any relevant pleadings with respect thereto, Faiitirc to give said written notice w ithin the tim as specified shall constitute ail ,',cnt of default here and shall Cause till immediate termination of tl -, is Agreement as to all itCrns of Equipment, Said delault and termination, however, shall not constitute an eiectior€ of rcinedics and Lcsso s hall retail its ri to such other remedies as may be set forth in this Agreci ne 14. Rcniedies. Upon the occurrence of any event o f default: and at any time thereafter, Lcssor, actin `done and ;r through its ai eiit , m ay, Wlthotit any Other 'lt >IiL�. : Cr ISe Disc or inorc of the ft�l` A %ing remodies a Lessor in its sole discretion shall elect: (a) declare the unpaid principal balance plus accrued interest tci (late tinder this Agreement to be immediately due and payable without notice_ or demand, (b) terminate this Agreement as to any or all items of equipment. ic.) without notice, demand_. liability or legal process,, enter into any premises of or under control or jurisdiction of Lessee or any agent of• Lessee where the leased Equipment may be, or is believed to be by Lessor. and repossess all or any iteni thereof, disconnecting and separating ail or :s;o much thereof as may be required to disconnect or separ `aisle from any other property. 1_.:ssce hen.!by expressly waiving all further rights to possession of the E:quil - mient atld all claims for injuries suffered through or loss caused by such repossession.. M i cause Lessee. at its expense, promptly to return the F'.quipment icy Lcssor. at Awh pkwe as L•. sor may designate, in the condition set forth above: (ct usc� hold, soli, ]case or otherw dispose of the EQpmettt or any Item thereof (ni the premises of Lessee or at any other location without affecting the obhgati[ of Lessee as provided in ihis - ; y Agrc ine! ( r' sell or lease [tic Equipment or any part thereof`, at public aucti or by private sax salc or teaso at smell firne or times and u p on such terms i fs Lessor may doerillinc, fl'cc and clear c& any rights oC I_Gtisen And, rf nonce thereof is rcqun'ed by law, any notice in wvriting of :Ind' such .sale or lease by I essor io 1_essce not less than 10 da prier to die date thereof shall constilut ' rc�lso zi blc notice thtrc ?f. (g) proceed by appropriate action either at law or in equity" to enforce performanc by Lessee of the apphcablc covenants of this Agreement or to recover damagcs t'clr the breach thereof; 0 1 , 13 (ht c\crcise any and all rights accruing to lessor under ally applicable law upon I default by Lessee-, fit addition, Lessor shall be entitled to recover Immediately as liquidated damages: t:)r the loss of a bargain and not as a penalty, a suns equal to tale at,?I;re< -ate of the t 11 all unpaid rant or (ether stalls which are due.. and Ilayaable: tIl? to the date the Equipment is ra:9urned to or re p ossessed b y lessor, ( it) all\' expense, paid or incurred by Lessor in connection with the reposscsslo holdill,l, repair and subsequent sale, lease or ether disposi ion cif• the F,quipment. including g attorne 1' I es and legai expenses, and fill) the purchase option price as prescribed in Paragraph 21 hereof, less the net amount ell` the recovery, it' any, actually received by Lessor from insurance or otherwise. Additionally, the measure of- liquidated darnages as set firth hereinabove shall be applicable to fix the damages accruing for the unexpired portion of the lease term if this Agreement is not assumed by the Lessee in a bankniptcy proceeding. Should Lessor, however, estimate its actual damages to exceed the fOrcgoing. Lessor may, at its option, recover its actual damattcs in lieu of or in addition thereto. v None of the remedies of Lessor under this Agreement are intended to be exclusive, but cash shall be cunlultuive and in addition to any other remedy referred to herein or otherwise available to Lessor at law or in equity. Lessee agrees to pay Lessor all attorneys* fees and all costs and expenses incurred by Lessor in connection \yith the cnforcetllent (lf tile lei of the. _1y�rec.nlenl or ally rioht or remedy hereunder. Any repossession car subsequent scale car lease by the lessor of .ally item of' Equipment shall not bar an action fOr a deficicney as herein provided and the brinlring of an action or the entry of a judgment against the [ essec shall not bar the.. Lessor "� Iii -Ail to repossess any or all it ins o Fquipnlent. Lessee 4yaa a y in(! all rights to ilCotico and ` f41 l iudiclal lit' :irin +t! with respect to the rep ossession of the Fquip :nt by lessor In tic' ;it c?t tl a li herculldcr by Lessee. ? . Revorts. Lessee shall all 211 llle(llatcf..' n(?11f1 l_es.cir of ally maierlalle defccu improper, w lilaitl +�l :iiollt,l'� tcI11 ol1, OUlpillQ11t, the ItatUCe of the defect or illalfunctim, the name and address ocfile tem of Equipmml, and such other IntO17111:111; as May be known, i t ptly" act% s. Lessor of :all i( ?i "CCti ll` pet's. 111 }fete 4, :Islet tl(?ctilllell s °.\hat�oe\ ;" i `D L'Nsec 111 comlectioll with ally claim or denlaild ;11\ "oivl 1_* or relatlil 14) 11iat 'rlf1114 11 :i111'411�. l lianutacitird Il' operation. else, or ftiilctl oxlip- (t an\ licill M himpnli nt ill. with llabllit"... an aid ill the in \`c�11a jtlom and dcld'11sc Of all such la:inls sell., in tllti c:\ ot'dama� c t'rE1n1 third persons liable tllcrcfelr ; shall attach to any item of t;quipment; and tdl reimburse 1_cssor, upon demand, for all attorneys' fees. court costs, and other 14 tees, costs, and expenses incurred by Lessor in connection with the foregoing. F?. "urthc Visurancec.. lessee will pr omptly CXCCtltc and dclti to Lessor such Wrther dog un-. jt� and take such further action as Lessor may rcasonably reque „ t in order to nl0 ffectiV- -'k earrY out the intent and purposes hereof. 27 Obligation 1.iticonditional Lesser' hereby ar s that l es obligation to pay all rov and a ier amounts owing hereunder shall he abs ;dme and ununidkional under all cirt:umstanc::4. i hi LInc-oment Illay [lot he cancelled or terminat except as exp , ssiy” provided tit rein Relatii.an lti1i Wanks The relationship of Lei sor and Lessee is that off L essor and Lome only. and nothing contained herein shall be deeme or construed ssor and l,c„ee. or by any third is q or by any court. as creakig the r elationships oi - emplo and elllployee, principal l alb! ;agc.,t. partnership, or joint venture. N cQ All no6cev dealaands and requems which may or are required to be givon to another party hereunder sliall be to writing, and each shall be de n ed to hate been properly. "v en "Ten smad pvr4 on an executive officer of tll` part` to titimn, such notice is to he `even, or .t•ll n sent i ?Umagc prepaid b� tlrst Mass mail. or eertth tl. return receipt recluested, tip depoot dlereo in a duly constituted United States Post Office or branch thereof located in ') ;w of the Slates tit' the [_!nited States of America in a scaled eil'.elope addressed as noioW If ki the Lessiir: B.zni. :(q,South F,yuiptnent Finance, <, dig ision =-yf Bancorptiotath Bank P, It 1fiN I iOQ'7 5 Mond Ax enuc I faI n cshuI NIS 39404 - 509 Attention: N s. FlaainQ D. Tcmple, President If to the Lessee: Au 'ustal. ( ieorgiaa 53t) Greene tits o. Room 105 lu <,11,1sta.. Ci,,k 30901 A duplicate "Orly of each notice. certificate or either commUll cation given under this Agreement to and, party thereunder shall also be given to any other parties indicated in this Paragraph. The t_.esmir and Lessee, by notice given hereunder, dcsi Hate any further or difteretit addresses and to which ;ulampient notices. eertificaoes or other communications Wall he sent. ;ti. t tinscros. Tic consent or approval by any party to or of avy act by the outer party recinking such consent 01' approval sliall not be deemed to �vaaive or render unnec.essar�• consent 15 to or approval elf any subsequent similar act. No custom or practice of thy: parties shall constitute a waiver of any party's rights to insist upon strict compliance with the terns hereof. 1. FrItircty of Agreement. This Agreement contains the entire agreement between Lessor and Lessee, and supersedes all prior agreements and understandings relating to the subject matter hereof. 'slit other agreement shall be effective to change, modify, or terminate this Agreement in whole or in part unless such agreement is in writing and duly signed by the party against whom entorcenment of such change, modification, or teriiination is sought. No representations, inducements, promises. t }r agreements, oral or otherwise., which are not embodied licrt:in shall be of anv° force or effect. '. Ls)untgEparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original for all purposes, and all of'which shall constitute-, collectively. one agreement, brit, in making proof hereof:. it shall never be necessary to exhibit more than one such rc ?tlntervart. . Alll4Mdnients and Addendums. This Agreement may b4 .inicnded or any of its t rots inodil lvd only 1 ?v written consent of Lessee and Lessor or Its assi ize. In the c\ cm Lcssee dosire: to buy other \= liill?meni, the parties iilay e xecute an addendum to this A,orcement with respect to such 001cP QtltlYpinnt. by ti} e \ecutini.? a Purchase Order for such cquipment: (Iii c;xecutili. an .icw.eptlllce c,rt►ti: ate of the equipment and 610 obtaining new opinions and other ,tIrnortin" doc.tl.DIC111116011 as required c permitted by this Ag reement- For purposes ol i <�ll t !nllf" tlb�etltl lit transact concerning other equipment as an ?titc�.T �ttct i.C`tltx<Fi t. tilt lc}il%)� *'lti�� st iali b: cistislili 1'ed , sinule transaction or IeLal and I?int�ing agreement: 11 (a) This Atoreement, which provides basic terns and conditions, (b) An executed Purchase Order and acceptance certificate, and i..1 tichcdu.es, -:ahibits, and other attachments to sueh cdOCIMIellls that I?ertain it,) file Ccluipnlellt described In the delivery Order, and supporting docnnicniatit�n stic h "I*, CA ortnion o .:ouns, and Insurance certificates. '. cverahility Provision-, If any provision of this Aureeinerlt is held to be illetaa':., 111v011 or iincm`olccablc under present or future laws effective during the I rni f this slrielllent, suc11 provision shall be fully severable: this ALrecnicnt shall be c onstrued and :unforced is it' such illeig -A. invalitd, or unenforceable provision had never conlpriseLi ;I part cif this • 0 1'ectlleiit: and !he r. provisions elf this Aorecntent shall remain in full urci: and effect and shall not be .;t cctcd by the illegal, invalid, or unenforceal ?le provision or b, its severance 1*wn 1111s A }lent. l�urtherniore, In lieu of each such illegal_ Invalid, or tinoniklreeablc provIsPI n the snail be added automatically as a part of* this Agreement a provision as siniflar 111 i rms icy Invalid. or tincnforceable provision as may be possible and "he ic valitd, ;r1cf e11f <.�ri�. ~1blt�. Po-son, Bou lid bv A `T" `n ' ]t. ]'he cond tc rnti, prl:'lit�21 and Lilt elltiniti contailicd Iii tlws orc:Qnieni shall apply w. Inure to the. benefit of, and he binfnne Upon l.e.`sscc, aild Its ticie «i?r�, a� !g a and sirvants. The I.csse'e has nO iiirtre!si In illy I'tltnpmetlt 16 tither than the possession and use thereof during the lease terns and cannot pledge, mortgage, or grant a Security interest in the Equipment or any iteni of Equipment. The conditions, tr'rnis, provisions, and covenants contained in this Agreement shall apply to, inure to the benefit of, and be binding upon Lessor. and its successors, assigns, agents, and servants. and, where the context so requires. anN person accepting an assignment of the rights of Lessor hereunder, and their respective Successors. assigns, agenB, and servants, and with respect to any indemnification provisions hereof, Lessor and any holder of obligations of Lessor issued in connection with this Agreement, and their respective successors, assigns, agents, and servants. shall each be entitled to indemnification hereunder without regard to the actions of any other person hereunder. 30. A -;ign►llcnt. (a) Without Lessor's prior consent. Lessee shall not either (i ) assign, transfer. pledge, hypothecate, grant any security interest in or otherwise dispose of this grcerlient or the, l:quipnient or anv interest in this Agreement or said L-'quipmellt, Or (ii) lease or len the Equipment or permit it to be use by anyone other than Lessee or Lcssee's employees. Lessor slay. withou the consent of I- assee. ass ign Its rights, title a intcrt st it, and to this Agreemcni. and al+ altachmenis hereto including the Purchase Ordcrist, to variou :sila'.nec::'in` estors or 'heir agents or trustees, and/or grant ttr assign a sc curity i nteres, it} thi" t the T'_quipmem in "hole or in p art assn is assigilvt n } m\ reassign His �� reels }e2:• ,�, ��"fe <► } }etli. Lessee agrees 11mi Wis A greement m ay become a part of �a p ool oi contract obligations iii. Lessor", oplion. acci t_%s�or or is as;si niees Inay assign or filrth:r ss gri either t cmirc po (Tr t fraciionahzcd interest t.lercin.. Fach suc assignee sha hat "� all or the right. tit Le sor unifier this L'ie'Iliziit. 1... »: :_hall recognize and achlowledge each such as igninent alid "or sccuritt intcre't. Subj."ci to ill,' ttcrei onlg. this A zi ement inures to the bt'Ilck of and is bind&& upon till' Heirs .Xcculors. ;ltti ? }iltistt'ati?r successors and assQnccs of the p arties henno. A his ''t'mrnemcnt and any interest het'eiii twit' be mmsf::r Milli` Ihn,ugh „ t wk MA SYMAU a oscrilictt b� Section 14 o t _ode, as the smile rnay be anwnded front lime to tnnc. Durim." tile term of this Agreement. Lessee s hall keep a :o►llplel and a ccurate ','cord of ati .iss- ,,2nimmis and Mi ler Irai MAs ill ttlrm and su bstance' ilcccssar} lo colill with Section 1 49i.z t of the Code. t. pills assignment of lessor's inte herenl, i error W c mBe nAlien nonco of -tuch assi`.?nillent to be sent tit Lessee and. Upon '._eeell)t Of SUCK notice ti. i +sly "nI}1Cl'tt, i esse, .ball, f J j ac}iilowledge the same its writing u) ,t ssor: Gild iii) ''ectlroi the .JSmy ?in =l, in l_ "s_-:eL` " book cntr\ system" as that terns is defined hi Su Mn i-t aj of file ('ode. \o filrth'r a>..iion ls. tit: recltlir:d by Lessor or by Lessee to e\idencc ti ll assi,£,nnit:nl. No such stii shall become: c leclit'e witho recordation of the assignment in said "hook entry stem. ('tllllUlali \'c Ri2llts. No \ shvr by l,esstlr o il'any dvfauh sh ell be deemed hi be a tt";il`,n of in E. i7t #l:,'r then c,listing or subsequ d etauh, nil's` shall anx such tA'ai\er M l i;szt�i' be dci "?lCd 11 ' }e ;::i 'cOutinllin'" \i'ak cr, No delay or o ►nission h� Lc-,"Or iii 11:'':ltiill :III\' ''IL_'hI, pmveJ ,`It'it _'', o : I llledt h ereunder. or at law or in equity, or othetAvi:se shall inipair any such t s' hL 'u o: c_.nsirued as a ,vai thercof or any acquteseenct therein, no steal; any 'W pamid exercise 4 an\ right pmelude Tither or tudwr exercise thereof: or the exercise or alit filer ri die. All ri <glit ;hall be cull }ulahve of and in addition to al' other rights. and may be . \eri:ised Win I_n } }c lo) iJn }e, and as often as may he deemed expedient by 1. i:svor. 1 a. Oov, jung _a \\ . 1_he substantive laws or the State of Georgia shall govern the vas dity, construction, en6weement, and interpretation of this :Agreement, the r ights and remedies 17 of the parties hereunder, and the ownership rights in and to the Equipment. . Rialit to Perform Covenants, if Lessee shall fail to make any payment or perform any act required to he made or pertormed by Lessee hereunder, Lessor. without waiving or releasing; anti obligation or default on the pail of Lessee, may (but will be under no obligation to) at any tine thereafter make Such payment or perform such act for the account and at tile expense of Lessee, and mav take all such action as may be necessary therefore. All stain, so paid by Lessor and Al expenses (incll,ldillg, without limitation, reasonable attorney. fCCS ) SO incurred. togcther with intc:rc•t thereon from thin. (,late of payment or incurring at tile highest rate permitted by applicable la will be paid by Lessee to Lessor on demand.. 40. Survi val. Lessee's obliygations contained in this Agreement shall survive the ternnination or c.ancc llaatlon o f this Agreement or the expiration of the term ol'any `chedule. 41 Special S11I.Mlations. Any amendment to standard languagc will be sett Barth in Fxhlbit A attached hereto i °Special Stipulations" 42. 'iaximum Illt4r`,t Rate. Nothing; contained in this Agreement shall require the Lessee to pale interest it al rate e \ceeding the Maximum Permissible R ate. if t amount of interest payable to the Lessor for any period would otherwise exceed the Maximulll Permissible ltnotillt for such period, such amount shall be automatically reduced to the Maxillluln Permissible ;Xrnount for such period. and the amount of interest payable to the Lessor for any sllbseeluellt period. to the extend less than the Maxilmila 1 Aniouni for such subsequent period. shall. i > the extent, be increased by the amount of - such reduction. They Lessee shall gl\ c the Lessor notice of any la «. oI chan4-e in late' that may result in such reduction or ,ticr aaSe 1 rOmpil" _after becoming a \tare Of such law or changc. "Maximuill Pe:rnll,sibi Amoull':" means, ','itll respect to interest oil ally amount for ant' period. thy' 111a \iil1t1111 amount of interest 111a1 clad be paay lble. With respect to such amount for ;itch period twithout c,ausillg the rate. 01 1'11t::rc l em su b aalllcxmt f ar uch period to exceed the Maxillaulrl Permissible Rate. "Niaxitill1111 P rlills"ible Rati" ni atn: the rate of interest oil an amount that of eki:CdCd COL110. under l ON. =V in ci:,il or criminal penalty being imposed on the Lessor or result in tile_ Lessor's heillt" urlaablo To ti111'orcc p,mem or repayment of all or p art of the rental pa due udder this Aareetllenl. H1:1 portions allocable to interest due or to become du: tai? sta;'h a niOunt, .. i:lfecnvc D ate. This kgreemelit shall bec ome etfecilve upon execlilloll by all of the part h `ret o Tii,, partic have caused this Agreement to be eNeculcd by th.11 l €iii' authorized : 'presenlali\ e;s air of the !_iaV' and tear first ab ove Written. I_I SS OR : LESSEE: Baail%, mp`ii3m&l I"qu pineilt 9 inane-, a divi�.11l €1 Augusta. {iCt ?r4Tla >f fklll, orpso' 11.1 Bank 4 � N B\: Title.- - -. '� fitla: /� TlEs1. 6� 60 ill W1 5KAOd 6575B 70471-002 RESOLUTION AUTHORIZING AND APPROVING EXECUTION OF AN EQUIIPMENT LEASE - PURCHASE AGREENTENT WITH BANCORPSOUTH EQUIPMENT FINANCE, A DIVISION OF BANCORPSOUTH BANK FOR THE PURPOSE OF LEASE - PURCHASING CERTAIN EQUIPMENT Will RE AS, the A 1V60 ST14 -? lGfill JWP CodM%' LO�f/rt/I S� overnin Body (the -- - "Governing Body ") of Atrwgusta, Georgia (the „ Lessee "), acting for and on the behali' of the Lessee: hereby finds. determines and adjudicates as follows: 1. The Lessee desires to enter into an Equipment Lease-Purchase Agreement with the Exhibits attached thereto in substantially the: same form as attached hereto as Exhibit =1" (the "Agreement ") with BancorpSouth Equipment Finance, a division of BancorpSouth Bank (the "Lessor ") for the purpose ofpresently purchasing the equipment as described therein for the total cost specified therein (collectively the "Equipment and to purchase such other equipment from time to time in the future upon appropriate approval; ?. The Lessee is authorized pursuant to Section 36 -60 -13 of the Official Code. of Georgia .-Annotated, as amended.. to acquire equipment and furniture by Lease. - Purchase agreement and pay interest thereon by contract for a terni of one ( I ) year. with renewable one (1) year terms: 3. It is in the best interest of the residents served by Lessee that the Lessee acquire the Equipment pursuant to and in accordance with the teens of the Agreement; and 4. It is necessary for the Lessee to approve and authorize the Agreement and enter same:, on the minutes of the Governing Body pursuant to Section 36 -10 -1 ofthe Official Code cif Georgia Annotateii. `. The lessee desires to designate the Agreement as a qualified tax - exempt obligation of Lessee for purposes of Section 265(b)(3) of the Internal Revenue Code of 1986 (tile. "Code "). NOVA . THERF?FORE. ILL IT RESOLVED by this Governing Body for and on behalf of the Lessee as 1`611ows: Section 1. The :`lgreclncnt and Exhibits attached thereto in substantially the sank forni as attached hereto as Exhibit "4" by and between the Lessor and the Lessee is hereby approved and "Authorized Officer ") is hereby authorized and directed to e \ecute said Ai;rccment on behalf of the Lessee. Section ). I'hc Agreement is being issued in calendar year deJW and shall be entered on the minutes of the Governing Body. Section 3. Neither any portion of the gross proceeds of the Agreement nor the 1?quipmc11t identified to t:he .Agreement shall be used (directly or indirectly) in a trade or business carried on by any person other than a governmental unit, except for such use as a member of the general public. Section 4 \o portion of the rental payments identified in the Agreement (a) is secured, directly or indirectly. by property used or to be used in a trade or business carried on by a person Other than a , overnmental unit. except for such use as a member of the general public, or by payments in respect of such property; or (b) is to be derived from payments (whether or not to Lessee) in respect of property or borrowed monev used or to be used for a trade or business carried oil by any person ether than a governmental unit. :section 5. No portion of the gross proceeds of the Agreement are used (directly or indirectly) to make or finance loans to persons other than governmental units. `section 6, The principle portion of the Agreement, when added to the amount of debt incurred by Lessee pursuant to article IX, Section Its, Paragraph I of the Constitution of Geor <oia, does not exceed 1 W4 of the assessed value of all taxable property of Lessee, Section 'The. Agreement and the equipment contemplated to be Financed has not been the subject of a referendum which failed to receive the approval of the voters of LeSSeeli €T** jurisdiction within the immediately preceding four years. Section S. Lessee hereby designates the Agreement as a qualified tax - exempt obligation for purposes of Section 265(b) of the Cade. Section Q. In calendar year ?pfd, Lessee has designated S of tax - exempt obligations (including the Agreement) as qualified tax - exempt obligations. Including the. Agreement herein so designated. Lessee will not designate more than 510,000,000 of obligations issued during calendar year .idle Y.___ as qualified tax - exempt obligations. Section 10. Lessee reasonably anticipates that the total amount of tax - exempt obligations (other than private acti\ ity bonds) to be issued by Lessee during calendar year will not exceed IS1U.000,000. Section 11. For purposes of this resolution, the amount of Tax - exempt obligations stated as either issued or designated as qualified tax - exempt obligations includes tax - exempt obligations issued by all entities deriving their issuing authority from Lessee or by an entity subject to substantial control by Lessee, as provided in Section 265(b)(3)(I:) of the Code. Section 12, The authorized (:officer is further authorized for and on behalf' of the Governing Bodv and the. Lessee to do all things necessary in furtherance of tite obligations of the Lessee pursuant to the Agreement, including execution and delivery of all other documents necessary. or appropriate to carry out the transactions contemplated thereby in accordance with the terms and provisions thereof. Following the reading of the foregoinLy resolution. 6AWISSMAW 11010A) moved that the fore resolution be ado ptek &lVAtIC9,4W29,14 3A2, i, j seconded the motion for its adoption. The put the question to a roll call vote and. the result was as 6011ows: L l,, Av& ;-ssmxta LTAA.)-soij-at, t Voted: Voted: Voted: Voted: Voted: Voted: 'Llie motion having received the affirmative vote of all members present, the declared the motion carried and the resolution adoptcd this the da o AOL a c-, ( 0 ' a x - officer offit Title A441 Ano-O 24 ATT s (SEAL) AUGUSTA LAW DEPARTMENT DAVID S. COPENHAVER Mayor ALVIN MASON Mayor Pro Tem )REW G. MACKENZIE General Counsel Augusta Law Department WAYNE BROWN KENNETH S. BRAY StaffAttomeys Augusta Law Department Matt Aitken Corey Johnson Joe Bowles Alvin Mason Bill Lockett Joe Jackson Jerry Brigham Jimmy Smith J. R. Hatney Don Grantham Frederick L. Russell Administrator BancorpSouth Equipment Finance, a division of BancorpSouth Bank P. O. Box 15097 Hattiesburg, MS 39404 -5097 Re: Lease - Purchase of Equipment by Augusta, Georgia Schedule No. 002 to Master Lease No. 6575B Ladies and Gentlemen: Pursuant to your request, we hereby render the following opinion regarding the Equipment Lease- Purchase Agreement (the "Agreement ") between Augusta, Georgia (the "Lessee ") and the A [fff)?- 2 c, 6W6. 0 69 iW V,6W t iss tic "Governing Body ") and BancorpSouth Equipment Finance, a division of BancorpSouth Bank (the "Lessor ") dated -Tab /L, We have acted as counsel to the Lessee and the Governing Body with respect to certain legal matters pertaining to the Agreement, and to the transactions contemplated thereby. - We are familiar with the Agreement and we have examined such agreements, schedulcS, statements, certificates, records, including.:. minutes of the Governing Body of the Lessee and other instruments of public officials. Lessee, and other persons as Nve have considered necessary or proper as a basis for the opinions hereinafter stated. Based on such examination, 'we are of the opinion that: I. Lessee and the Governing Body have full power, authority and legal right to execute, deliver and perform the terms of the Agreement. The Agreement has been duly Atthori•red by all iecessary action on the part of Lessee and the Governing Body and any other governing authority and does not require the approval of, or the giving of notice to any other federal, state, local, or foreign governmental authority and does not contravene any law binding on l...essee or the Governing Body or contravene any indenture, credit agreement or other agreement to which Lessee or the Governing Body is it party or by which it is bound. 2. The Agreement has been duly authorized, executed and delivered and conslimes a valid and binding obligation of Lcssec and the Governing; Body enforceable in accordance with its terms. ` 3. All required procedures for execution of the Agreement, including competitive bidding, i!' applicable, have been complied with, and all rentals will be paid out of funds which at legally available for such purposes. 4. With respect to the tax - exempt status of the interest portion of rental payments under llic Agreement, under present law: (a) The Agreement is conditional sales agreement which qualifies as an obligation for purposes of Section 103(a) of the Internal Revenue Code of 1986, as amended (the "Code), and Treasury Regulations and ruling hereunder. (b) The interest portion of the rental payments under the terms of the Agreement is exempt from federal income taxation pursuant to Section 103(a) of the Code and the Treasury Regulations and rulings thereunder. 5. There are no pending or threatened actions or proceedings before any court, administrative agency or other tribunal or body against lessee or the Governing Body which may materially affect lessee's or the Governing Body's financial condition or operations, or which could have any effect whatsoever upon the validity, performance or enforceability of the terms of the Agreement or any action taken or to be taken in connection with Lessee's obligations contemplated in the Agreement. 6. At origination, the Agreement complied in all material respects with all requirements of federal, state and local laws, including, without limitation, laws relating to usury or the origination of the Agreement. 7. The principle portion of the Agreement, when added to the amount of debt incurred by Lessee pursuant to Article IX, Section IV, Paragraph I of the Constitution of Georgia, does not exceed 10% of the assessed value of all taxable property of Lessee. 8. The Agreement and the equipment contemplated to be financed has not been the subject of a referendum which failed to receive the approval of the voters of Lessee's jurisdiction within the immediately preceding four years. This opinion is being furnished to you in connection with the above - referenced transaction and the opinions expressed herein are for the sole benefit of , and may be relied upon by the Lessor and its assigns and are not to be delivered to or relied upon by any other party without our prior written consent, Sincerely, A evw)d el Andrew G. MacKenzie General Counsel I 038- Information Return for Tax-Exempt Governmental Obligations 8G I r Novem ibor ODD! 10 Under Internal Revenue Code section 149(e) 1 s 4 7 V I . I? I ► See separate Instructions, LA 0 T"' ;;ca�l�,, I Caution. ff `iv : price is und(�r s 7©0. 000 o-se Fcjr, 8038-G,' I ksver5 narne Aulasusta. Georgia 3 N and stre , , or P !�1 box Of mail ic, not ddiv(_�.rerj !c) c� j r�s I sir e,_( 530 Greene Street, Room 10 y. poi t off e, iv ZIP c',kde Augusta. GA 30901 7 Narn(- o' i 8 CUSIP nLrnb( 9 Namc. all title:_ of 0!fi;er ar logefl wpre�sertalivo whom he IRS may call for more informarion 10 _Type_ of Issue (check applicable box(es) and enter the issue price) See- instructions and attach, schedule F duc3tion Ae lth and nost ital L P Tr a L_ nsportaton . . . . . . PubItc Satety, . . . . . . . . . . . . . . . Enviroornent (including bonds) . . . . . . Lj 1 i tilities . . . .. . YJ Other, Describe. 1* 2 - CAT MOTOR GRADERS If obfigations, are. TANS or RANs, &-eck box 0► If abligations are BA Ns, check box 1 0,- Li If obligations are in Uie ft_mn of A lease or installment sale, check box . . . . op EJ 113_,_Description of ObliqaLtLqns CoT _p fete for the entire issue for which this form is (C) Skawd r(!.d( (d) `Nt i( N'd (a) f`nal rnal'ully da�c t (t)) t.,Suc. plux Pf'cr� at :M?,AAAy avora9c nMuratv 21 If Amended Return, check nere M f" 2 Issuer's employer identification number : 58-2204274 Ryirn/suilti 4 kr POrt M=) Ur 3 isslie M K�Uses of Proceeds of Bond Issue (including underwriters discount) 22 Pfoceeds used fei aiccri 'itd interest . . . 22 Ij 23 !isue pncf of rtire !S5L3C,- amount from line 21 column (b)) . . . . . . . . 24 . . Proceed!� used fOr boob issuance costs (including undervinters' discount) 24 25 Proceeds used for ( l. enhancernenz . . . 25 �z J, 26 Pr,rxceeo�; ailocated t f' ro easonably requ�red reserve or replacem fund [Jz�__ 27 k tj s Proceec 'cc! ip correntty refund prior issue's . . . . . . . . 27 sr 28 Procceds u-,ied to aalvance re-fund prior issues i 28 29 lbtai (add iines 24 through ?z3, . . . . . . . . . . . . . . . 29 30 Nonreft.Mdlilq prctC,oedl� of the issue (subtract line 29 from line 23 and enter amount here) 30 1 De scripttan of Refunded Bonds (Complete this part only for refunding bonds.) 31 V ntcr Eh.,' rernaming weightod avera( e maturity of the bonds to be currently MfUnded 32 EnteF tl remaining vieghted average maturq of the bonds to be advance refunded Illy' 33 Enter the !ast date on vvhich 010 r0fUnded bonds Will be called 34 rote; the ditn(s) the re4unded bonds vvere issued 0 Miscel - laneo , u s 35 FnIt: r tar t !M(I'Unt C)f *0 Mate'' VOiLO'ne (7a;_) allocated to the issLj(,. under 15e;Ction 141(b)(5, 35 36a 'nfcry 7h(,- - crti ,unt o' grz,_ oT to tx Inoestf, M a QUWWiteed invva!rnpnl _ Isee 36a i b FnV t 1he final matuffity diatie! of the guarantered invGstnlow contract 00 37 finamlinqs: a Pfoce_ :if this issue that are lo be Osed I make loans to clhof govemmunull units. b i1 this [4 stjc i< a front the proceeds of , inother tax- exempt issue_ , check box It F' anti entei ou--, name - .r and the date of Ihe issue, ►' 38 H fl* :t sue; has d-, ignated thi 1_ SE Llnd( r soction 265(b)(3)(B)(i)(111) (small issuor check hox 39 1 ;hid i'i5uor lids (7,ff'(AeO 10 IN71 , V 0 i3etMity it fi(__!LJ of arbilrage rebate, check box . . . . . . . f 40 f f 010 i5 Alff h,!'� a I odQe, check box [ b- A r."-quiv, i d - ,e ulat exarifned This rt-tuw and :w�_ ',(Jwdufu�� 't�A d ic btn' of my kri Aj mid bdwf, Sign Here For Paperwork Reduction Act Notice, see page 2 of the Instructions. 8038-G fri: beino filed (e� Yiet.,Jll 6575B 70471-002 SPECIAL STIPULATIONS LESSOR: BancorpSouth Equipment Finance, a division of BancorpSouth Bank P.O. Box 1 5097 302 Second Avenue I lattiesburg, MS 39404-5097 B y: �j wh&V Title: Date: " I'10 — fl LESSEE: Augusta,, Georgia 5 3 0 .�() Greene Street, Room 105 Augusta, GA 30901 By: Alf Date: 7 Ll //0 I —NONE— EQUIPMENT LEASE SCHEDULE Lease Schedule Number 002 This Lca,e Schedule Nip. 1102 to the Equipment Lease- Purchase Agreement dated as of 11c /& , _ p (the "Agreement between BancorpSouth Equipment Finance, a division of BancorpSouth Bank, a Mississippi Corporation (the "Lessor") and Augusta, Georoia (the. , Lessee"). acting by and through the Governing Body of the Lessee, is made as of this date. I. Description of the Equipment. The quantity, item, manufacturer, and model and serial number of the Equipment subject to the Agreement are as appear on l-xhibit "B -l" attached hereto and made a Dart hereof. ?. Location of the F.quinment. The Equipment is to be located and delivered to Lessee's prenusesat .2316_ _ - - 7 - on *cinp R.64`D _ Aa6les 3o3;o G.____ -__- C)r =inal Rental Terni. The term of the Agreement shall be one t 1 l year. which renewable for ' succeeding one (I } year terms except if terminated by Lessee. 4. Rental Pavmenis. The Lessee agrees to pay the Lessor the original cost of $416.824.00 for the Equipment hereof` described in Exhibit "B- I" attached hereto. upon the terms, and at the times as provided in the Payment :=Amortization Schedule, attached hereto as Exhibit "B - and made a part hereof. with an interest rate. of 3.45 percent per annum as provided thereby. The principle portion of the Agreement, when added to the amount of debt incurred by l.c.ssee pursuant to Article I1, Section IV, Paragraph I of the Constitution of Georgia, does not exceed 10"o of the assessed value of all taxable property of I..essee. 5. The Agreement and the equipment contemplated to be financed has not been the subject of a ref`rendum which tailed to receive the approval of the voters of LessecaC jurisdiction within (lie inimediate.ly preceding four years. ��. This Schedule :uid its terms and conditions are hereby incorporated by reference in the Agreement. DATED, this the � day of �� , � - 2- 1 Fs ()R - , L.FSSFF: Ffanca }a l?ti�,trtl3 l .1a1i1?i��ent F inanle, :� dik isiOn tugusta. Geonna of BancorpSouth Bank By: B qG II�� . F1_itle: 7 JV) /Z 44 a N z Z41 EXIIIHITRA Augusta, Georgia Master Lease Nurnbcr: 65756 Schedule Number: 02 CATERPILLAR 140M MOTOR GRADER, SN: 69M0096I CATf-RPILLAR 140M MOTOR GRADER, SN: 139M00962 Prepared by: First Continental Leasing Customer Augusta- Richmond County, Georgia Quote Entered Date: 1/26/10 Interest Rate: 3.4500% (Monthly) I n f o A n a I y s i s Payment Amortization Report 618/2010 4 06.51 PM Fite Name infoa �adx 04 4.Z, j,"R (4 Version 8 Oc Page I "V-xhibit B-2 Principal Accrued Accrued Per Date Payment Principal Interest Balance Interest Int Bal Net Balance - 1 1 15/1 G 0,00 000 0,00 456,824.00 0.00 0,00 456.824.00 81 15/10 4,061) 56 2,74 1,313.37 454,076 81 1,313.37 0.00 454,076,81 9115/10 4,06056 2,755,09 1.305. 451,321,73 1.305,47 0.00 451,321.73 101151'10 4,06056 2,76301 1,297.55 448,558.72 1.297,55 0,00 448.55872 4 11/1511 4,06056 2,770-95 1,28961 445,78777 1,289.61 0,00 445,787,77 5 12/15110 4,060.56 2,778.92 1.281 443.008-85 1.281.64 0,00 443,00885 2010 20,302,78 13,815.15 6,487.64 6,487,64 6 i/151 4,060,56 2.786,91 1,273.65 440.221.94 1,273,65 0.00 440,221 94 21 1 4,060,56 2 794.92 1.265.64 437,427 03 1,265,64 0.00 437,427.03 311 4,060-66 2,802.95 1,257.60 434,624.07 1,257.60 000 434,624,07 4/1511 4,060.56 2,811.01 1,249,54 431 ,813 06 1-249,54 0,00 431,812-06 54 1 4,060.56 2,81909 1.241-46 428,993,96 1,241.46 0.00 428,99a.96 6115111 4,060,56 2,827-20 1.233-36 426,16677 1,233.36 0-00 426.16E 77 4-060.56 2.835 33 1,225.23 423,331 44 1,225.23 000 423,331 44 i 8115/11 4.060,56 4,843.48 1.217,08 420,48796 1 217.08 000 420,487,96 14 9 4.060.56 2851 65 1,208 90 417,63630 1,208.90 000 417,63E,30 15 i Oil 5il 1 4.06056 2,859.85 1,200,70 414,776,45 1.200,70 0,00 414. 7 7C 45 1 6 111 4,06056 2,86807 1.1 92.48 411.90838 1,192.48 0,00 411,90238 7 12, 4,060,56 2,876,32 1,18424 409,032,06 1,184.24 0.00 409,032,06 2011 48.726.68 33,97679 14,749,89 89 I Q 1 1/15,12 4,06056 2.884,59 1,175-97 406.147,47 1,175,97 0.00 406,147,47 19 2i 15112 4 060 56 2. 892.88 1,167,67 403,254-58 1,16767 0,00 403,25458 1!15!12 4,060,56 2,901 20 1,15936 400,35338 1,15936 000 400,353.38 21 4 "15/12 4,06056 2.909. 1.151 397,44384 1,151 000 397.44384 22 51151 4,060,56 2,917.91 1.14265 394 525 94 1,14265 000 394.525,94 23 611 5112 4. 060.56 2,926.29 1. 134.26 391,599,64 1,134.26 000 391,599,64 24 7/1 5'12 4,06056 2. 934.71 1125.85 388.664.93 1,125 85 000 388,66493 5 8/1511 4,060.56 2,943,15 1 117,41 385,721.79 1 -11741 0.00 385,721 79 26 9,1511 4,060 2.951.61 1,108.95 382,770,18 1.108,95 0.00 382,770 18 27 1 Oi 15/12 4,060,56 2 960 09 1 1,100,46 379,81009 1,10046 000 379,81009 2 8 11 15/ 4.06056 2,968,60 1,091 95 376,841,49 1,091.95 0.00 376,841.49 29 1 2,`1 5.1 2 4,060,56 2.977 1 14 1,083,42 373.86435 1,083-42 0-00 373.86435 2012 48,726.68 35167-71 13,558.98 13.558.98 30 i.15i13 4,06056 2, 985.70 1 074,86 370,87865 1,07486 0.00 31 31 2/15/13 4.06056 2-994.28 1,066-28 367,884,37 1,066,28 0.00 367,884.37 Version 8 Oc Page I "V-xhibit B-2 Prepared by first Continental leasing Customer, Augusta- Richmond County, Georgia tan'e 1 28 0 °J` Quote Entered Date: 1126110 Interest Rate, 3.4500% (Monthly) Per 32 34 35 36 37 38 39 40 41 Date 3115/13 4/15113 � i15/13 6;15113 7115/13 8/15;13 9115`13 10/15,'13 11:`15:'13 12115/13 K111 , 1.'15`14 2'15;14 3115114 4/15,'14 5115114 6115'14 7 1 15/14 8115414 9/15/14 10115!14 11'15'14 i21i`.fiY 2014 1- `15.'15 2!15"15 3115;15 4115. ?15 5/15/15 7/15/15 2015 Totals Payment 4,06056 4,06056 4,060.56 4.06056 4,06056 4,06056 4,06056 4.060.56 4,06056 4,060.56 48,726.68 4.060 56 4,06056 4.060, 56 4,060.56 406056 4,060.56 4.060.56 4 060 56 4,060,56 4.060 -56 4.060.56 4,'266.:16 48,726,68 4,060.56 4.060.56 4,060.56 4,060,56 4,06056 4 ".65 - 56 4,06056 2 r 3,uu.. )U Principal 3.002.89 3,011 52 3.020 18 3.028.86 3 037.57 3.046 30 3.055.06 3,06385 3.072.65 3,081,49 36,400, 36 3 090 35 3,099.23 3.10814 3 117.08 3.126.04 3,135.03 3.144.04 3.153.08 3,162.15 3.171 24 3.180.35 3.189.56 J /.b /b.Z3 Info Ana Iysis Payment Amortization Report 1,049.03 1,04038 1,031.69 1,022.99 1,014.25 1,00549 996.71 987 90 979.07 Principal Balance 364,881.48 361,869.96 358,849 78 355,820 91 352.783.34 349,737 04 346,681.97 343,618.13 340,545.47 337,463.98 1 C ,.S[b. SL 970.21 961 32 952.41 943,48 934.52 925.53 91652 907.48 898.41 88932 880.20 871.06 334,373.64 331,274 40 328,166.26 325,049 18 321,923.14 31 8,788 11 315,644.07 312,490.99 309,32885 306,157.61 302,977.26 299.787,76 1 1,000 40 3198.67 86189 296,589.09 3,207 86 852.69 293,381.23 3.217.09 843 -47 290,164.14 3.226.34 83422 286,937.81 3,235.61 824.95 283, 7 02.20 3 244,91, 8 64 280.457 28 3,254.24 806.31 277,20104 2 ;,203.04 196.96 0.00 3UD,4L 3.�V tJ`J,. /ts I, /b 521 456,824.00 b,bJb. 14 b4.au`J.4L Accrued r.uur 01 1.049.03 1, 040.38 1,031 .69 1, 022,99 1,01425 1,30549 996.71 98790 979.07 12,326.32 970.21 961.32 95241 943.48 93452 9255 916.52 907.48 898.41 889.32 880.20 0 "71,06 11.050.46 361.89 852.69 343.47 83422 824.95 31564 806,31 796,96 6.636.14 64,809.42 6/8/2010 4:06:51 PM F=ile Name irfoa iadx Accrued u uu 0.00 000 0.00 0.00 000 0.00 0.00 000 0.00 0.00 000 000 000 0.00 000 000 0.00 0.00 0.00 0.00 11.00 0.00 0.00 0.00 0,00 0.00 0.00 0.00 Net Balance 364.881.48 361, 869.96 358.849.78 355,820.91 352.783 34 349,737 04 346.681 97 343 „618.13 340,54547 337,463.98 334,373.64 -131,27440 328,166.26 325,049 18 321.923.14 318,788 11 315,644.07 312,490.99 309.328.85 306.157.61 302,977.26 299,787.76 296,589 A9 293.381.23 290,164.14 286,937.81 283.7 02.20 280 45 7 28 277,203 04 0.00 Version 8 Oc Page 2 EQUIPMENT ACCEPTANCE NOTICE TO: l3ancorpSouth Equipment Finance, a division ofBancorpSouth Bank RE,: Equipment Lease - Purchase Agreement dated as of _:�.,�/.t c,t / O :Augusta, Georsida (tile "Lessee "), acting by and throuL*h the. 17,6/6, J;0 Az(W /AtD C 40A l tlfS /0l ,___, the Governing Body of the Lessee. hcrebv acknowledge receipt in Rood condition and working; order of the equipment (the "Equipment ") as listed on FAhibit Y-1" attached hereto and made a part hereof and further described in the invoices attached hereto and made a part hereo The E uipment is subject to the tquipment Lease- Purchase Agreement dated as of , "1 A, Z e/ e) between Lessor and Lessee. Lessee certifies to Lessor that the Le -se.e has inspected the Equipment and that the Equipment is acceptable and approves supplier(s) invoices for the Equipment and requests that Lessor make payment of such invoices. Lessee further acknowledges that it selected the Fquipment so received. 1,1:SSI -'F AGREES THAT LESSOR MADE NO REPRESENTATIONS AND WARRANTIES WHATEVER. DIRI CTLY OR INDIRECTLY. EXPRESS OR IMPLIED. AS TO THE SUITABILITY. DURIABILITY, FITNESS FOR USE, MERCHANTABILITY, CONDITION, QUALITY. OR OTHERWISE OF SUCH EQUIPIMENT. LESSEE SPECIFICALLY WAIVES ALL RIGHT TO MAKE ANA' CLAUNI AGAINST LESSOR ITS ASSIGNS FOR BREACH OF ANY WARRANTY, OR TO INTERPOSE OR ASSERT ANY SUCH DEFENSE, COUNTERCLAIM OR SETOF=F. LIStiI :�I : Augusta, Georgia -- >< Date: Gr57''. � � �DI161111 /SS /Q�tJ EXHIBIT C EXHIBIT C -I Augusta, Georgia Master Lease Number: 657.513 Schedule Number: 02 CATERPILLAR 140M MOTOR GRADER, SN: I39M00961 — Z 10I 72 AS5e—+ # CATERPILLAR 140M MOTOR GRADER, SN: 139M00962 Please indicate who fiends are to he released to: Customer (if customer is to be paid, please send copy ol'check where vendor has been paid) vzvendor I/ BancorpSouth Equipment Finance a division of BancorpSouth Bank A D. Box 15097 Hattiesburg, A S 39404 -5097 601 -544 -3252 - 800- 222 -1610 - FA 80(/-322 -1611 June 8, 2010 Augusta, Georgia Rl : 2- CAT 'Motor (Traders Insurance must be maintained on any leased equipment or vehicles. Please forward insurance certiticate for our tiles from your insurance company. We require BancorpSouth Equipment f=inance be listed as loss payee for leased equipment and or vehicles as our interest may appear. Please contact %'Our insurance went to update your coverage and prox ide us the necessary evidence of insurance. )'our prompt attention is needed and appreciated in this matter. If you need further information or have ant question. please contact me at 800 -2 22 -1610. Please list BancorpSouth Equipment finance as loss payee. Thank you, Jessica Cooksey BancorpSouth Equipment Finance P.O. Box 15097 Hattieshur -, his 39404 Phone: (601) 544 -3252 Toll Free: (800) 222 -1610 Fax: (804) 322 -1611 (601) 545 -1830 G E' a x G a A Donna Williams, CGFM Director June 1, 2010 FINANCE DEPARTMENT RISK MANAGEMENT DIVISION Sandra M. Wright, CWCP Risk Management Manager AS OF July 18, 1997 STATEMENT OF LIABILITY COVERAGE AUGUSTA - RICHMOND COUNTY, GEORGIA As Augusta- Richmond County, Georgia is a local government pursuant to the "Home Rule Act ", liability claims are handled in -house through the Risk Management Division of the Finance Department and any settlement awards are paid from available Commission funds. Augusta- Richmond County, Georgia does not carry commercial insurance coverage on its fleet, equipment or machinery. Damages to property are handled in -house through the Risk Management Division of the Finance Department and available funds are used to repair or replace damaged items. Under lease agreements, the Augusta Commission will fulfill its obligation under the lease agreement as if there were insurance to cover the loss. Please be advised that Augusta- Richmond County, Georgia is entitled to the defense of sovereign immunity. Aqln� Donna Williams Director Finance Statement is effective for one year from statement date. Co -� io Date 530 Greene Street, Room 217 Augusta, Georgia 30911 (706) 821 -2301 (Office) (706) 821 -2502 (Fax) W W W.AUGUSTAGA. GO V