HomeMy WebLinkAboutAssociates Commercial Corporation
Augusta Richmond GA
DOCUMENT NAME: f:\~'CX\~ c.an('(1e\c..t.D-l Cc:::r-~'\Ci:ttC:Y)
DOCUMENT TYPE: ~X~
YEAR: C\'l
BOX NUMBER: 0 C)
FILE NUMBER: \~C)au
NUMBER OF PAGES: \l
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, ' . ASSOCIATES COMMERCIAL CORPORATION
A SUBSIDIARY OF ASSOCIATES CORPORATION OF NORTH AMERICA
February 13,1997
Ms, Lena J. Bonner
Purchasing Agent
Augusta-Richmond County
530 Greene Street
Room 806 Municipal Bldg.
Augusta, GA 30911-0000
Subject:
Lease Purchase Agreement #24813
Dear Ms. Bonner:
Enclosed please find a complete copy of the original documentation for your record.
I would like to thank you for doing business with Associates Commercial Corporation. AI~you
have any suggestions for improving our service, please let us know at 1-800-421-4779. Thank you
again.
Sincerely,
n~~~~~
Documentation Specialist ~)
Enclosures
Executive Offices: 300 E, Carpenter Freeway, Irving, Texas 75062, 972,652,3313
Mailing Address: P,O. Box 650363, Dallas, Texas 75265-0363
VENDOR .: 03974
1J1ats ~tf( ~~ @JF ~JiIaJ"'-.. ~~ .
ASSO.CIATES CO'1~ERCIAL CORJt
,f5ta~ 4 REMITTANCE STATEMENT
1/06/96
560 560 863 001
3~663.4~
.00
3,863.45
PAYABLE AT
FIRST UNION BANK OF AUGUSTA
AUGUSTA, GEORGIA
Tj1)IJi @jI"(t? ~~ Ci)JF ~JCIf.lJ"".
COMPTAOUER'S OFFICE
AUGUSTA, GA.
64,115
611
156494
CHECK NUMBER
DATE
AMOUNT
156494
12/13/96
$3,,863.45
..*.*3863 DOLLARS AND ~5 CEN~S
PAY
TO THE
ORDER OF
ASSOCIATES
300 E JOHN
FREEWAY
IRVING
COMMERCIAL CORP
CARPENTER
THE CITY C~~~USTA
~~T
TX 75062
III . 5 b I. q 1.111 I: 0 b . .0 b L 5 51: 2 0 5 5 ~ 0 . 0 ~ 8 ? b bill
~
EQUIPMENT LEASE-PURCHASE AGREEMENT
Lessee: (Name and Address)
Augusta-Richmond County
530 Greene Street Room 806 Municipal Bldg.
Augusta, GA 30911-0000
Lessor agrees to lease to Lessee and Lessee agrees to lease from
Lessor the Equipment described in any Schedule A now or hereafter
attached hereto ("Equipmenr) in accordance with the following terms
and conditions of this Equipment Lease-Purchase Agreement ("L.ease"),
1, TERM. This Lease will become effective upon the execution hereof
by Lessor. The term of this Lease will commence on the date the
Equipment is accepted pursuant to Section 3 hereunder and, unless
earlier terminated as expressly provided for in this Lease, will continue
until the expiration date (the "Expiration Date") set forth in Schedule A
attached hereto (the "Lease Term"),
2. RENT. Lessee agrees to pay to Lessor or its assignee the Lease
Payments, including the interest portion, equal to the amounts specified
in Schedule A, The Lease Payments will be payable without notice or
demand at the office of Lessor (or such other place as Lessor or its
assignee may from time to time designate in writing), and will
commence on the first Lease Payment Date as set forth in Schedule A
and thereafter on the subsequent dates set forth in Schedule A. Any
payments received later than ten (10) days from the due date will bear
interest at the highest lawful rate from the due date, Except as
specifically provided in Section 6 hereof, the obligation of Lessee to
make the Lease Payments hereunder and perform all of its other
obligations hereunder will be absolute and unconditional in all events and
will not be subject to any setoff, defense, counterclaim, or recoupment
fO( any reason whatsoever including, without limitation, any failure of the
Equipment to be delivered 0( installed, any defects, malfunctions,
breakdowns or infirmities in the Equipment or any accident,
condemnation or unforeseen circumstances. Lessee reasonably
believes that funds can be obtained sufficient to make all Lease
Payments during the Lease Term and hereby covenants that it will
do all things lawfully within its power to obtain, maintain and properly
request and pursue funds from which the Lease Payments may be
made, including making provisions for such payments to thB extent
necessary in each budget submitted for the purpose of obtaining
funding, using its bona fide best efforts to have such portion of the
budget approved and exhausting all available administrative reviBWS and
appeals in the event such portion of the budget is not approved, It is
, 'Lessee's intent to make Lease Payments for the full Lease Term if funds
are legally available therefor and in that regard Lessee represents that
the use of the Equipment is essential to its proper, efficient and
economic operation, Lessor and Lessee understand and intend that the
obligation of Lessee to pay Lease Payments hereunder shall constitute a
current expense of Lessee and shall not in any way be construed to be a
debt of Lessee in contravention of any applicable constitutional or
staMory limitation or requirement concerning the creation of
indebtedness by Lessee, nor shall anything contained herein constitute
a pledge of the general tax revenues, funds or monies of Lessee,
3, DELNERY AND ACCEPTANCE. Lessee, 0( if Lessee so requests,
Lessor, will cause the Equipment to be delivered to Lessee at the
location specified in Schedule A ("Equipment Location"), Lessee will
pay all transportation and other costs, if any, incurred in connection with
the delivery and installation of the Equipment Lessee will accept the
Equipment as soon as it has been delivered and inspected. Lessee will
evidence its acceptance of the Equipment by executing and delivering to
Lessor a Delivery and Acceptance Certificate (in the form provided by
Lessor) upon delivery of the Equipment
4. DISClAIMER OF WARRANTIES. Lessee acknowledges and
agrees that the Equipment is of a size, design and capacity selected by
Lessee, that Lessor is neither a manufacturer nor a vendor of such
equipment, that LESSOR LEASES AND LESSEE TAKES 'THE
EQUIPMENT AND EACH PART THEREOF "AS-IS" AND THAT
LESSOR HAS NOT MADE, AND DOES NOT HEREBY MAKE, ANY
625689 Rev. 8-90
Lease No, 24813
Lessor: (Name and Address)
Associates Commercial Corporation
300 E. John Carpenter Freeway
Irving, TX 75062
REPRESENTATION, WARRANTY, OR COVENANT, EXPRESS OR
IMPLIED, WITH RESPECT TO THE MERCHANTABILITY
CONDITION, QUALITY, DURABILITY, DESIGN, OPERATION:
FITNESS FOR USE, OR SUITABILITY OF THE EQUIPMENT IN ANY
RESPECT WHATSOEVER OR IN CONNECTION WITH OR FOR THE
PURPOSES AND USES OF LESSEE, OR AS TO THE ABSENCE OF
LATENT OR OTHER DEFECTS, WHETHER OR NOT
DISCOVERABLE, OR AS TO THE ABSENCE OF ANY
INFRINGEMENT OF ANY PATENT, TRADEMARK OR COPYRIGHT.
OR AS TO ANY OBLIGATION BASED ON STRICT LIABILITY IN
TORT OR ANY OTHER REPRESENTATION, WARRANTY, OR
COVENANT OF ANY KIND OR CHARACTER, EXPRESS OR
IMPLIED, WITH RESPECT THERETO, IT BEING AGREED THAT ALL
RISKS INCIDENT THERETO ARE TO BE BORNE BY LESSEE AND
LESSOR SHALL NOT BE OBLIGATED OR LIABLE FOR ACTUAL
INCIDENTAL, CONSEQUENTIAL, OR OTHER DAMAGES OF OR TO
LESSEE OR ANY OTHER PERSON OR ENTITY ARISING OUT OF
OR IN CONNECTION WITH THE USE OR PERFORMANCE OF THE
EQUIPMENT AND THE MAINTENANCE THEREOF, Lessor hereby
assigns to Lessee during the Lease Term, so long as no Event of
Default has occurred hereunder and is continuing, all manufacturer'!;
warranties, if any, expressed or implied with respect to the Equipment,
and Lessor authorizes Lessee to obtain the customary services
furnished in connection with such warranties at Lessee's expense,
Lessee's sole remedy for the breach of any such manufacturer's
warranty shall be against the manufacturer of the Equipment, and not
against Lessor, Lessee expressly acknowledges that Lessor makes,
and has made, no representations or warranties whatsoever as to the
existence or the availability of such warranties of the manufacturer of the
Equipment
5. RETURN OF EQUIPMENT, Unless Lessee shall have exercised
its purchase option as provided in Section 20 hereof, upon the expiration
of earlier termination of this Lease pursuant to the terms hereof, Lessee
shall, at its sole expense but at Lessor's option, return the Equipment to
Lessor to any location in the continental United States designated by
Lessor,
6, NON-APPROPRIATION OF FUNDS; NON-SUBSTITU-
TION. Notwithstanding anything contained in this Lease to the contrary,
in the event no funds 0( insufficient funds are appropriated and
budgeted or are otherwise unavailable by any means whatsoever in any
fiscal period for Lease Payments due under this Lease, Lessee will
immediately notify Lessor or its assignee in writing of such occurrence
and this. Lease shall terminate on the last day of the fiscal period for
which appropriations have been received or made without penalty or
expense to Lessee, except as to (i) the portions of Lease Payments
herein agreed upon for which funds shall have been appropriated and
budgeted 0( are otherwise available and (ii) Lessee's other obligations
and liabilities under this Lease relating to, or accruing or arising prior to,
such termination, In the event of such termination, Lessee agrees to
peaceably surrender possession of the Equipment to Lessor or its
assignee on the date of such termination in the manner set forth in
Section 5 hereof and Lessor will have all legal and equitable rights and
remedies to take possession of the Equipment. Notwithstanding the
foregoing, Lessee agrees (i) that it will not cancel this Lease and this
Lease shall not terminate under the provisions of this Section if any
funds are appropriated to it, or by it, for the acquisition, retention or
operation of the Equipment or other equipment or services performing
functions similar to the functions of the Equipment for the fiscal period in
which such termination would have otherwise occurred or for the next
succeeding fiscal period, and (ii) that it will not during the Lease Term
give priority in the application of funds to any other functionally similar
equipment or to services performing functions similar to the functions of
the Equipment This section will not be construed so as to permit
Lessee to terminate this LE-ase in or,der to purchase, lease, rent or
otherwise acquire the use of any other equipmer.'~ or services performi
functions similar to the functions of th<;, Equipm.ilnt. "
terminates pursuant to this Section, Lessee a r g the fisca
period immediately following in which such termination
occurs it will ase, lease, rent or otherwise acquire the use of
7, REPRESENTATIONS, COVENANTS AND WARRANTIES,
Lessee represents, covenants and warrants as of the date hereof and at
all times during the Lease Term that (i) Lessee is a state or a fully
constiMed political subdivision thereof, or its obligations hereunder
constiMe obligations issued on behalf of a state or a political subdivision
thereof, such that any interest derived under this Lease will qualify
forexemption from Federal income taxes under section 103 of the
Internal Revenue Code of 1986, as amended (the "Code"), and that it
will do or cause to be done all things necessary to preserve and keep in
full force and effect (a) its existence and (b) this Lease; (ii) the
execution, delivery and performance by the Lessee of this Lease a~d all
documents executed in connection herewith, including, without
limitation, Schedule A hereto and the Delivery and Acceptance
Certificate referred to in Section 3 hereof (the Lease together with all
such documents shall be collectively referred to herein as the "Lease
Documents") have been duly authorized by all necessary action on the
part of the Lessee; (iii) the Lease Documents each constiMe a legal,
valid and binding obligation of the Lessee enforceable in accordance
with their respective terms; (iv) no additional governmental orders,
permissions, consents, approvals or authorizations are required to be
obtained and no registrations or declarations are required to be filed in
connection with the execution and delivery of the Lease Documents; (v)
Lessee has sufficient appropriations or other funds available to pay all
Lease Payments and other amounts due hereunder for the current fiscal
period; (vi) the use of the Equipment by the Lessee is essential to and
will be limited to the performance by Lessee of one or more
governmental functions of Lessee consistent with the permissible scope
of Lessee's authority; (vii) no portion of the Equipment will be used
directly or indirectly in any trade or business carried on by any person
other than Lessee; and (viii) no portion of the Equipment will be used by
an organization described in section 501 (c) (3) of the Code and (ix) this
Lease does not constiMe an arbitrage obligation within the meaning of
section 148 of the Code and is not federally guaranteed within the
meaning of section 149(b) of the Code,
Lessee shall deliver to Lessor an opinion of Lessee's counsel in form
and substance as set forth herein or as otherwise acceptable to Lessor,
In the event that a question arises as to Lessee's qualification as a
political subdivision, Lessee agrees to execute a power of attorney
authorizing Lessor to make application to the Internal Revenue Service
for a letter ruling with respect to the issue,
8, TITLE TO EQUIPMENT, Upon acceptance of the Equipment by
Lessee hereunder, title to the Equipment will vest in Lessee subject to
Lessor's rights under this Lease; provided, however, that (i) in the event
of termination of this Lease pursuant to Section 6 hereof, (ii) upon the
occurrence of an Event of Default hereunder, and as long as such Event
of Default is continuing, or (iii) in the event that the purchase option has
not been exercised prior to the Expiration Date, title will immediately vest
in Lessor or its assignee without any action by Lessee and Lessee shall
immediately surrender possession of the Equipment to Lessor or its
assignee in the manner set forth in Section 5 hereof,
9, USE; REPAIRS, Lessee will use the Equipment in a careful manner
for the use contemplated by the manufacturer of the Equipment
Lessee shall comply with all laws, ordinances, insurance policies and
regulations relating to the possession, use, operation or maintenance of
the Equipment Lessee, at its expense, will keep the Equipment in good
working order and repair and furnish all parts, mechanisms and devices
required therefor.
10, ALTERATIONS, Lessee will not make any alterations, additions
or improvements to the Equipment without Lessor's prior written
consent unless such alterations, additions or improvements may be
readily removed without damage to the Equipment
11, LOCATION; INSPEcTION, 'rre ~quiPment wi not be removed
from or, if the Equipment consi!its of rolling stock, its permanent base
will not be changed from the Equipment Location without Lessor's prior
written consent which will not be unreasonably withheld, Lessor will be
entitled to enter upon the Equipment Location or elsewhere during
reasonable business hours to inspect the Equipment or obseNe its use
and operation,
12, LIENS AND TAXES, Lessee shall keep the Equipment free and
clear of all levies, liens and encumbrances except those created under
this Lease, Lessee shall pay, when due, all charges and taxes (local.
state and federal) which may now or hereafter be imposed upon the
ownership, leasing, rental, sale, purchase, possession or use of the
Equipment, excluding however, all taxes on or measured by Lessor's
income, If Lessee fails to pay said charges, or taxes when due, Lessor
may, but need not, pay said charges or taxes and, in such event,
Lessee shall reimburse Lessor therefor on demand, with interest at the
maximum rate permitted by law from the date of such payment by
Lessor to the date of reimbursement by Lessee,
13, RISK OF LOSS; DAMAGE; DESTRUCTION, Lessee assumes
all risk of loss of or damage to the Equipment from any cause
whatsoever, and no such loss of or damage to the Equipment nor defect
therein nor unfitness or obsolescence thereof shall relieve Lessee of the
obiigation to make Lease Payments or to perform any other obligation
under this Lease, In the event of damage to any item of Equipment,
Lessee will immediately place the same in good repair with the proceeds
of any insurance recovery applied to the cost of such repair. If Lessor
determines that any item of Equipment is lost, stolen, destroyed or
damaged beyond repair, Lessee, at the option of Lessor. 'Hill either (a)
replace the same with like equipment in good repair, or (b) on the next
Lease Payment Date, pay Lessor: (i) all amounts then owed by Lessee
to Lessor under this Lease, including the Lease Payment due on such
date, and (ii) an amount equal to the applicable Concluding Payment set
forth in Schedule A opposite such Lease Payment Date, In the event
that Lessee is obligated to make such payment pursuant to
subparagraph (b) above with respect to less than all of the Equipment,
Lessor will provide Lessee with the pro rata amount of the Lease
Payment and the Concluding Payment to be made by Lessee with
respect to the Equipment which as suffered the event of loss.
14, PERSONAL PROPERTY, The Equiprnent is and 'Hill remain
personal property and will not be deemed to be affixed or attached to
real estate or any building thereon, If requested by Lessor, Lessee 'Hill,
at Lesser' expense, furnish a waiver of any interest in the Equipment
from an):y having an interest in any such real estate or building,
15, INSuRANCE,
during the Lease Term, fire and extended coverage, public liabil' nd,
property damage insurance with respect to the Equipment' such {,
amounts, covering such risks, and with such insurers shall be,t
satisfactory to Lessor, or, with Lessor's prior written t. may selft
insure against any or all such risks, In no event will Insurance limits
be less than the amount of the then applicable C ding Payment with
respect to such Equipment Each insurance 'y will name Lessee as
an insured and Lessor or its assigns as an editional insured, and will
contain a clause requiring the insurer to !Ve Lessor or its assigns at
least thirty (30) days prior written noti of any alteration in the terms of
such policy or the cancellation eof. The proceeds of any such
policies will be payable to L and Lessor or its assigns as their
interests may appear, Upq acceptance of the Equipment and upon
each insurance renewal e, Lessee will deliver to Lessor a certificate
evidencing such ins nee, In the event that Lessee has been
permitted to self-' ure, Lessee will furnish Lessor with a fetter or
certificate to s effect In the event of any loss, damage, injury or
accident inv 'ng the Equipment, Lessee will promptly provide Lessor
with notice thereof and make available to Lessor all information
and d umentation relating thereto and shall permit Lessor to participate
an perate with Lessee in making any claim for insurance in respect
Augusta-Richmond County is self-insure
r. hold 'LeSsor han:nbss fr~~ any iind all claims, actions ings,
expenses, damages 'br liabilitil.ls, including attome' ees and court
costs, arising in connection with the E' nt, including, but not
limited to, its selection, purchase, d' , installation, possession, use,
operation, rejection, or re and the recovery of claims under
insurance policies th The indemnification provided under this
Section shall nue in full force and effect notwithstanding the full
paym all obligations under this Lease or the termination of the
17, ASSIGNMENT. Without Lessor's prior written consent, Lessee
will not either (i) assign, transfer, pledge, hypothecate, grant any
security interest in or otherwise dispose of this Lease or the
Equipment or any interest in this Lease or the Equipment or (ii) sublet or
lend the Equipment or permit it to be used by anyone other than Lessee
or Lessee's employees, Lessor may assign its rights, title and interest
in and to the Lease Documents, the Equipment anellor grant or assign a
security interest in this Lease and the Equipment, in whole or in part,
and Lessee's rights will be subordinated thereto,. Any such assignees
shall have all of the rights of Lessor under this Lease, Subject to the
foregoing, this Lease inures to the benefit of and is binding upon the
successors and assigns of the parties hereto. Lessee covenants and
agrees not to assert against the assignee any claims or defenses by
way of abatement setoff, counterclaim, recoupment or the like which
Lessee may have against Lessor, Upon assignment of Lessor's
interests herein, Lessor will cause written notice of such assignment to
be sent to Lessee which will be sufficient if it discloses the name of the
assignee and address to which further payments hereunder should be
made, No further action will be required by Lessor or by Lessee to
evidence the assignment, but Lessee will acknowledga such
assignments in writing if so requested. Lessee shall retain all notices of
assignment and maintain a book-entry record (as referred to in Section
21) which identifies each owner of Lessor's interest in the Lease. Upon
Lessee's receipt of written notice of Lessor's assignment of all or any
part of its interest in the Lease, Lessee agrees to attom to and recognize
any such assignee as the owner of Lessor's interest in this Lease, and
Lessee shall thereafter make such payments, including without limitation
such Lease Payments, as are indicated in the notice of assignment, to
such assignee,
18, EVENT OF DEFAULT. The term "Event of Default," as used
herein, means the occurrence of anyone or more of the following
events: (i) Lessee fails to make any Lease Payment (or any other
payment) as it becomes due in accordance with the terms of this Lease,
and any such failure continues for ten (10) days after the due date
thereof; (ii) Lessee fails to perform or observe any other covenant,
condition, or agreement to be performed or observed by it hereunder
and such failure is not cured within twenty (20) days after written notice
thereof by Lessor; (iii) the discovery by Lessor that any statement,
representation, or warranty made by Lessee in this Lease or in any
writing ever delivered by Lessee pursuant hereto or in connection
herewith was false, misleading, or erroneous in any material respect; (iv)
Lessee becomes insolvent, or is unable to pay its debts as they become
due, or makes an assignment for the benefit of creditors, applies or
consents to the appointment of a receiver, trustee, conservator or
liquidator of Lessee or of any of its assets, or a petition for relief is filed
by Lessee under any bankruptcy, insolvency, reorganization or similar
laws, or a petition in, or a proceeding under, any bankruptcy, insolvency,
reorganization or similar laws is filed or instiMed against Lessee and is
not dismissed or fully stayed within twenty (20) days after the filing or
institution thereof; ,
fails to perform or observe any covenant, ", greement to be
~ performed by it under an t or obligation with Lessor or
an affilia and any applicable grace period or notice with
. , or (vi) an attachment,
levy or execution is threatened or levied upon or against the Equipment
19, REMEDIES, Upon the occurrence of any Event of Default, and
as long as such Event of Default is continuing, Lessor may, at its option,
exercise anyone or more of the following remedies: (i) by written notice
to Lessee, declare an amount equal to all amounts then due under the
Lease, and all remaining LeaSE! Payments due during the fiscal year of
Lessee in which the default occurs to b8 immediately due and payable,
whereupon the same shall become immediately due and payable; (ii) by
written notice to Lessee, request Lessee to (and Lessee agrees that it
will), at Lesse'e's expeme, promptly retum the Equipment to Lessor in
the manner set forth in Section 5 hereof, or Lessor, at its option, may
enter upon the premises where the Equipment is located and take
immediate possession of and remove the same, (iii) sell or lease the
Equipment or sublease it for the account of Lessee, holding Lessee
liable for all Lease Payments and other payments due to the effective
date of such selling, leasing or subleasing and for the difference
between the purchase price, rental and other amounts paid by the
purchaser, lessee or sublessee pursuant to such sale, lease or sublease
and the amounts otherwise payable by Lessee hereunder; and (iv)
exercise any other right, remedy or privilege which may be available to it
under applicable laws of the state where the Equipment is then located
or any other applicable law or proceed by appropriate court action to
enforce the terms of this Lease or to recover damages for the breach of
this Lease or to rescind this Lease as to any or all of the Equipment. In
addition, Lessee will remain liable for all covenants and indemnities
under this Lease and for all legal fees and other costs and expenses,
including court costs, incurred by Lessor with respect to the
enforcement of any of the remedies listed above or any other remedy
available to Lessor.
20, PURCHASE OPTION, Upon thirty (30) days prior written notice
from Lessee, and provided that there is no Event of Default, or an event
which with notice or lapse of time, or both, could become an Event of
Default, then existing, Lessee will have the right to purchase the
Equipment on any Lease Payment date set forth in Schedule A hereto
by paying to Lessor, on such date, the Lease Payment then due
together with the Concluding Payment amount set forth in Schedule A
opposite such date. Upon satisfaction by Lessee of such purchase
conditions, Lessor will transfer any and all of its right, title and interest in
the Equipment to Lessee AS IS, WITHOUT WARRANTY, EXPRESS
OR IMPLIED, except Lessor will warrant that the Equipment is free and
clear of any liens created by Lessor.
21. TAX ASSUMPTION; COVENANTS, The parties assume that
Lessor can exclude from Federal gross income the interest portion of
each Lease Payment set forth in Schedule A under the column
captioned "Interest Portion."
Lessee covenants that it will (i) register this Lease and transfers
thereof in accordance with section 149(a) of the Code and the
regulations thereunder, (ii) timely file a statement with respect to this
Lease in the required form in accordance with section 149( e) of the
Code, (iii) not permit the property financed by this Lease to be directly or
indirectly used for a private business use within the meaning of section
141 of the Code, (iv) not take any action which results, directly or
indirectly, in the interest portion of any Lease Payment not being
excludable from Federal gross income pursuant to section 103 of the
Code and will take any reasonable action necessary to prevent such
result, and (v) not take any action which results in this Lease becoming,
and will take any reasonable action to prevent this Lease from becoming
(a) an arbitrage obligation within the meaning of section 148 of the Code
or (b) federally guaranteed within the meaning of section 149 of the
Code,
Notwithstanding the earlier termination or expiration of this Lease,
the obligations provided for in this Section 21 shall survive such earlier
termination or expiration.
22. NOTICES. All notices to be given under this Lease shall be made
in writing and mailed by certified mail, retum receipt requested, to the
other party at its address set forth herein or at such address as the
party may provide in writing from time to time, Any such notice shall be
deemed to have been received five days subsequent to mailing,
23. SECTION HEADINGS. All section headings contained herein are
for the convenience of reference only and are not intended to define or
limit the scope of any provision of this Lease,
24, GOVERNING LA.W, T-his Lease shall be construed in accordance
with, and governed by, t 1e laws of the state of the Equipment Location,
l
25. DELIVERY OF RELA.TED DOCUMENTS, Lessee will execute or
provide, as requested by Lessor, such other documents and information
as are reasonably necessary with respect to the transaction
contemplated by this Lease,
26, ENTIRE AGREEMENT; WAIVER, The Lease Documents
'. ' .
constitute the entire agreement ~,the ~<3rties with respect to the
lease of the Equipment, and this Lease shall not be modified, amended,
altered, or changed except with the written consent of Lessee and
Lessor, Any provision of this Lease found to be prohibited by law shall
be ineffective to the extent of such prohibition without invalidating the
remainder of this Lease. The waiver by Lessor of any breach by Lessee
of any term, covenant or condition hereof shall not operate as a waiver
of any subsequent breach thereof,
IN WITNESS WHEREOF, the parties have executed this Agreement as of the)O fi
day of
November
19 C1~
LESSEE:
By:
LESSOR: Associates Commercial Corporation
~d~th
By:
Trtle: Sr. Vice President
OPINION OF COUNSEL
With respect to that certain ~~uipment Lease-Purchase Agreement
("Lease") dated '( Ai 0 lJ-U'l1. '.MA. tJ, I ,'1 C, /P by and between
Lessor and Lessee, I am of the opinion that (i) Lessee is a tax exempt
entity under Section 103 of the Internal Revenue Code of 1986, as
amended; (ii) the execution, delivery and performance by Lessee of
the Lease have been duly authorized by all necessary action on the part
of Lessee; (iii) the Lease constitutes a legal, valid and binding obligation
of Lessee enforceable in accordance with its terms and all statements
contained in the Lease and all related instruments are true; (iv) there are
no suits, proceedings or investigations pending or, to my knowledge,
threatened against or affecting Lessee, at law or in equity, or before or
by any governmental or administrative agency or instrumentality
Counsel for Lessee:
By:
. WALL
COUNTY ATTORNEY
Trtle: '{
which, if adversely determined, would have a material adverse effect on
the transaction contemplated in the Lease or the ability of Lessee to
perform its obligations under the Lease and Lessee is not in default
under any material obligation for the payment of borrowed money, for
the deferred purchase price of property or for the payment of any rent
under any lease agreement which either individually or in the aggregate
would have the same such effect; and (v) all required public bidding
procedures regarding the award of the Lease have been followed by
Lessee and no governmental orders, permissions, consents, approvals
or authorizations are required to be obtained and no registrations or
declarations are required to be filed in connection with the execution and
delivery of the Lease.
Date: '{
NOVEMBER 6, 1996
625689 Rll'i,8-90
!-',l::l..5/I::l<J
SCHEDULE A
EQUIPMENT DESCRIPTIO~i
Leese No. 2411' ~
Th;s Schedule A Is executed by AssocIates Commercia' Corporatlon ("lessor") and Augut;m-
RJchnmnd County, GA ("Lessee"), as 8 supplement to, and is hereby attached to end made I
Pl!~ of thet cartel" Equipment Lease-Purchase Agreement' d.ted liS' of
~t).JP-&,\ M\ lD, 1Q'1.\p (hL.li1811!"), botween Lessor and L.e"ee.
,
Lessor hereby leases to Lessee undf!!r nnd plJrsuant to the Leas;. end Lessee hereby laBses
from Lessor under 8nd pUr!lUBnt tcthe Lease the followIng Item, of Equipment:
. . - . -. -
QUANTITY DiScAFP'iIOH "I'o'1ANUIIACTURiA. Malia "ND 6R1At. No.1 . IUPP\.If"
.
2 N.w 1 9!n' ClL.I~ ellr C.rryllI '" . CII.lD Car. I"e.
41n WlChln;ton RoBel
IS New 1197 V.rlolotl DSC! ca" ear, Auft,l1t3, c:iA aosn.Qoao
!QUIf'MENT lOCATION: The Auguc12 Alct"nClmt Count, GDIf Ce\naI
A1.I4\m8. SA
. .
1
I
Inithal T .rm:
37
Month.
CornmenC9mlilnt Date:
Oecember 31, , 996
Expiration Dlte:
December 31, 1999
PsrlC'Jdic Aent:.3!l Consecutive Montnry Payments of 83,583.45. e8ch lIncluding Interest),
followea by one final payment of $ 57. 7 5Q..Q~ plus any end all other payments due under this
Len! .
DliIted: F"eb~~ il, I!f'?
LESSEE: Augusta-Richmond County,
LESSOR: AJllociates Commercial CDrpar8tlo~
BY: ~~
id J. Smith
TITle: Senior Vice President
'-v
Page 1 of 2
214 :='41 b4'r=> J. '::t'=' (. ""J. -GO J.J.'~-'" "~........... . ."....~ .....-
FF:~..Jt'l i-l ,,:'0-: r1UN 1 C 1 P~L F 1 N~NCE ,
, ASSQCIA TES- COMMERCIAL CORPORATION, MUNICIPAL FINANCING
SCHEDULE A
Lessee: AUGUSTA-RICIHMOND COUNTY, GEORGIA
lease Number: 24813 Amount Funded: $165,730.96
Interest rate: 6.08%
lease lease
Payment Payment Lease Interest Principal Concluding
Number Date Payment Portion Portion Payment
1 31 - Dee-1996 $3,563.45 $0.00 $3,563.45 $162,167.51
2 31 - Jan-1997 $3,563,45 $821.65 $2,741.80 ' $159,425.71
3 31 - Feb-1997 $3,563.45 $807.76 $2,755.69 $156,670.02
4 31 - Mar-1997 $3,563.45 $793.79 $2,769.66 $153,900.36
5 31 - Apr-1997 $3,563.45 $779.76 $2,783.69 $151.116.67
6 31 - May-1997 $3,563.45 $765.66 $2,797.79 $148,318.88
7 31 - Jun-1997 $3,563.45 $751.48 $2,811.97 $145,506.91
8 31 - Jul-1997 $3,563.45 $737.24 $2,826.21 $142,680.70
9 31 - Aug-1997 $3.563.45 $722.92 $2,840.53 $139,840.17
10 31 - Sep-1997 $3,563.45 $708.52 $2,854.93 $136,985.24
11 31 - Oet-1997 $3,563.45 $694.06 $2,869.39 $134,115.85
12 31 - Nov-1997 $3,563.45 $679,52 $2,883.93 $131,231.92
13 31 - Dec-1997 $3,563.45 $664.91 $2,898.54 $128,333.38
14 31 - Jan-1998 $3,563.45 $650.22 $2,913.23 $125,420.15
15 31 - Feb-1998 $3,563.45 $635.46 $2,927.99 $122,492.16
16 31 - Mar-1998 $3,563.45 $620.63 $2,942.82 $119,549.34
17 31 - Apr-1998 $3,563.45 $605.72 $2,957.73 $116,591.61
18 31 - May-1998 $3,563.45 $590.73 $2,972.72 $113,618.89
19 31 - Jun-1998 $3.563.45 $575.67 $2,987.78 $110,631.11
20 31 - Jul-1998 $3,563.45 $560.53 $3,002.92 $107,628.19
21 31 - Aug-1998 $3,563.45 $545.32 $3.018.13 $104,610.06
22 31 - Sep-1998 $3,563.45 $530.02 $3,033.43 $101,576.63
23 31 - Oct-1998 $3,563.45 $514.65 $3,048.80 $98,527.83
24 31 - Nov-1998 $3,563.45 $499.21 $3,064.24 $95,463.59
25 31 - Dee-1998 $3,563.45 $483.68 $3,079.77 $92,383.82
26 31 - Jan-1999 $3.563.45 $468.08 $3,095.37 $89,288.45
27 31 - Feb-1999 $3,563.45 $452.39 $3,111,06 $86,177.39
28 31 - Mar-1999 $3,563.45 $436.63 $3,126.82 $83,050.57
29 31 - Apr-1999 $3,563.45 $420.79 $3.142.66 $79,907.91
30 31 - May-1999 $3,563.45 $404.87 $3,158.58 $76,749.33
31 31 - Jun-1999 $3,563.45 $388.86 $3,174.59 $73,574.74
32 31 - Jul-1999 $3,563.45 $372.78 $3,190.67 $70,384.07
33 31 - Aug-1999 $3,563.45 $356.61 $3,206.84 $67,177.23
34 31 - Sep-1999 $3,563.45 $340.36 $3,223.09 $63,954.14
35 31 - Oct-1999 $3,563.45 $324,03 $3,239.42 $60,714.72
36 31 - Nov-1999 $3,563.45 $307,62 $3,255.83 $57,458.89
37 31 - Dec-1999 $57,750.02 $291.13 $57,458.89 $1.00
T ata Is $186,034.22 $20,303.26 $165,730.96
1/28/9710:57 AM Page 1 of 1
SCHEDULE A
EQUIPMENT DESCRIPTiON
.
Lease No, 24813
This Schedule A is executed by Associates Commercial Corporation ("Lessor") and Augusta-
Richmond County. GA ("Lessee"), as a supplement to, and is hereby attached to and made a
part of that certain Equipment Lease-Purchase Agreement dated as of
("Lease"), between Lessor and Lessee.
Lessor hereby leases to Lessee under and pursuant to the Lease and Lessee hereby leases
from Lessor under and pursuant to the Lease the following items of Equipment:
QUANTITY DESCRIPTION (MANUFACTURER, MODEL AND SERIAL NO.) SUPPLIER
2 New 1997 Club Car Carryalill Club Car, Inc.
4152 Washington Road
55 New 1997 Various DSG Gas Cars Augusta, GA 30907-0000
EQUIPMENT LOCATION: The Augusta Richmond County Golf Course
Augusta, GA
Initial Term:
37
Months
Commencement Date:
December 31, 1 996
Expiration Date:
December 31, 1999
,'eriodic Rent:.3..6 Consecutive Monthly, Payments of $3.563.45 each (including interest),
followed by one final payment of $ 57. 75..Q...Q2 plus any and all other payments due under this
Lease.
Dated:
LESSEE: Augusta-Richmond County,
GA
LESSOR: Associates Commercial Corporation
BY:
BY:
TITLE:
David J. Smith
TITLE: Senior Vice President
Page 1 of 2
INCUMBENCY CERTIFICATE
"
I do hereby certify that I am the duly elected or appointed and acting Secretary/Clerk
A K' Augusta-Richmond Co. ("Lessee"), a body corporate and politic duly organized and existing
under the laws of the State of?C Georgia that I have custody of the records of Lessee,
and that, as of the date hereof, the individuals named below are the duly elected or appointed
officers of Lessee holding the offices set forth opposite their respective names. I further certify
that (i) the signatures set forth opposite their respective names and titles are their true and
authentic signatures, and (ii) such officers have the authority on behalf of Lessee to enter into
that certain Equipment Lease-Purchase Agreement dated or to be dated'('November 6, ... I q q..!t.-,
between Lessee and Associates Commercial Corporation,
NAME
TITLE
~ Larry E. Sconyers
y:
Mayor
~Charles T. Dillard
(C Operations Administrator
IN WITNESS WHEREOF, I have duly executed this Certificate and affixed the seal of
o-essee hereto this 'f)L day of November , 19---2.Q.
SEAL
~:~S;;;;4il=' GA
TITLE: Secretarv/Clerk
(Per.on who h.. the authority and knowledge that the perlon above i. authorized to lig" the document.,
to_ _ , _ .,J .,j .1-\, L. .......io ~_...,j iI.....~L~"
UNIFORM Co.MMERCIAL CODE - FINANCING STATEMENT - FORM UCC-1 (Aevis~u 1/1/"; 995)
Form must be typed, Read Instruct/ons on back before filling out form,
..,. ".:..-iLlt
!t1...~51'
11'0 BQJl: 11'
--..-
"'~01.1113
THIS ANANCING STATEMENT IS.1'RES,9ITED TO A AUNG OFACER FOR AUNG PURSUANT
TO THE UNIFORM COMMERCIAL CODE, STUE OF GEORGIA.
1 A, Debtor Name and Mailing Addreu: 0 Individual (Lalt. First. Middle Name)
AUGUSTA-RICHMOND COUNTY ~Bullne.. (Legal Business Name)
ROOM 806 MUNICIIPAL BUILDING
AUGUSTA GA 30911
1 B. Enter Social Securhy /Tax 10 , 58- 2 204 274 1 c, [J Check If exempt under Item 6
2A. Debtor Name and Mailing Addresl: 0 Individual (Last, First, Middle Name)
o BUllne.. (Legal Buslne.. Name)
. ; I
. .
. ~.~I::f...l~h
. ~11,,"Ut.h'..
2B, Enler Social Security !Tax 10 ,
3A, Deblor Name and Mailing Addresl:
2C, 0 Check h exempl under Item 6
o Individual (Lalt, First, Middle Name)
o BUllne.. (Legal Business Name)
5, Assignee Name and Mailing Address
o Individual (Lalt, Flrsl, Middle Name)
o Buslne.. (Legal Buslne.. Name)
3B, Enter Social Security /Tax 10 ,
4, Secured Pany Name and Mailing Address:
3C, 0 Check h exempt under Item 6
6, Exceptions for Social Security/Tax 10' - O,C,G,A, 11,g.402(9): Financing Statement IIled 10
perfect a security inlerest In collateral already subject to a security interest In another jurisdictior.
when it Is brought Into this state or when the debto(s location is changed 10 Ihis Slate, or the debto,
IS nol requited to have such a number,
7, 0 Check Only II BOTH: (il Collateral is consumer goods as de lined in O,C,G,A, 11,g.109 anc
(II) the secured obligation II originally $5,000 or lesl, and give maturity date (MONTl-VDAY,
YEAR) or It ate 'None'
ASSOCIATES COMMERCIAL CORP.
300 E CARPENTER FREEWAY
IRIVNG TX 75062
o Individual (Last, First. Middle Name)
o Business (Legal Business Name)
8, Check ONLY II 8llpllcable,
A, 0 Collateral on Consignment,
B,O Collateral on Lease,
9A. This IInancing statemenl covers Ihe following types or hems of collaleral:
9C, Enter collateral code(s) from back 01
form thai best describes collatera
covered by thil IIl1ng:
(SEE ATTACHED EQUIPMENT DESCRIPTION)
9B, 0 Products of collateral are also covered,
90, Number of additional sheels
prasented:
10, Check" 8llpllcable and Include reasonable description of lhe real 81late In Item 9A:
A,O Crops growing or to be grown, B,O Mlnerall or the like (Including 011 and gas) or accountl subject to O,C,G,A. 11,g. I 03(5), C,[J Fixture filing pursuant to O,C,G,A, 11,g.313,
1 t, Name of the Record Owner(s) or Record Leaaee(s) (II debtor doe. nO! have an .nterell 01 record In the real estate):
12, County or Countlee In which the affected real eslale Is located (Musl be Identified If filing covers crops, mineral or fixtures):
13, ThlllIatemenlIs filed wifhout tho dllbto(. signature to p9lfect a security Interest In collateral (check only If applicable):
A, 0 already subject to a security Intereslln anOlhor Jurisdiction when h was broughllnto this state or deblo(1 location changed 10 Ihls state;
B, 0 which Is proceeds of tho original collateral described above In which a security Intoresl was perfected;
C, 0 as to which the IIIlng has lapsed;
0,0 acquired after a change ot debtor'l name, Identify or corporale structure; or
E. Odll6crleed IR a s9G~rify agreemenl' reale&18te rnong8ge attached hereto In accordance wilh O.C.G.A, 11'9-402(1).
14, Slgnature(s) of Dobtor(s) 15, Slgnature(s) of Secured Party(ias)
fj;E{;l:ERcm
CORPORATION
16, Return Copy To:
'ASSOCIATES COMMERCIAL CORPORATION
~ruNICIPAL FINANCE - 8 PLAZA
300 E CARPENTER FREEWAY
t TDTVMr.. TY 7'=inr-.?
--,
STATE OF GEORGIA - FINANCING STATEMENT
UCC-1 (REVISED 1/1/1995)
FORM MUST BE TYPED,
READ INSTRUCTIONS ON BACK
I .
DELIVERY AND ACCEPTANCE CERTIFICATE,
, .,
'.
,'he undersigned Lessee hereby acknowledges receipt of the Equipment described below
("Equipment") as fully installed and in good working condition and Lessee hereby accepts the
Equipment after full inspection thereof as satisfactory for all purposes under the Equipment
Lease-Purchase Agreement ("Lease") executed by Lessee and Associates Commercial
Corporation ("Lessor") as of the Lease Date set forth below:
LEASE LEASE SCHEDULE A DELIVERY PURCHASE PURCHASE
DATE NUMBER DATE NUMBER DATE ORDER NO.
24813 11/6/96
EQUIPMENT INFORMATION
QUANTITY DESCRIPTION (MANUFACTURER, MODEL AND SERIAL NO.) SUPPLIER
2 New 1997 Club Car Carryall II Club Car, Inc.
4152 Washington Road
55 New 1997 Various DSG Gas Cars Augusta, GA 30907,0000
LESSEE:
GA
BY:
DATE ACCEPTED: '( November 6, 1996
Fonn 8'038~G
Information Return for Tax-Exempt Governmental Obligations
> Under Internal Revenue Code sectIon 149(e)
) See separate InstructIons.
(Note: Use Form 8038-GC if the issue price is under $100,000,)
OMS No, 1545-0720
, ..
6 Date of issue
If Amended Return, check here> 0
2 Issuer's employer identification number
58-2204274
4 Report number
G19
Reportin
Issuer's name
Augusta-Richmond County
3 Number and street (or P ,0, box if mail is not delivered to street address)
530 Greene Street, Room 806 Municipal Bldg.
5 City, town, or post OffICe, state, and ZIP code
Augusta, GA 30911-0000
7 Name of Issue
8 CUSIP Number
9
10
11
12
13
14
15
16
17
18
Iicable box es and enter the issue
o Education (attach schedule-see instructions) , ' ,
o Health and hospital (attach schedule-see instructions)
o Transportation. , , , , , , , '
~ Public safety , , , , . , , , ,
o Environment (including sewage bonds)
o Housing. , , , , , , , ,
o Utilities , , , , , , , ' , ,
o Other, Describe (see instructions) )
If obligations are tax or other revenue anticipation bonds, check box) 0
If obligations are in the form of a lease or installment sale, check box) 18I
Descri tion of Obli ations
(a) (b)
Maturity date Interest rate
rice
$
9
10
11
12
13
14
15
16
$165730,96
19
20
(d)
Stated redemption
price at maturity
Final maturity. N/A N/A % NJA N/A
Entire issue , $165 730,96 N/A 3 years
Uses of Proceeds of Bond Issue. inr.ludin underwriters' discount
Proceeds used for accrued interest, , . , , , , ' , , , , ,
Issue price of entire issue (enter amount from line 20, column (c)) , , ,
Proceeds used for bond issuance costs (including undelWl"iters' discount) ,
Proceeds used for credit enhancement , , , , , , , , , ,
Proceeds allocated to reasonably required reserve or replacement fund ,
Proceeds used to currently refund prior issues
Proceeds used to advance refund prior issues , , , , , , , ,
Total (add lines 23 through 27) , , . , , , , , , , , , ,
Nonrefunding proceeds of the Issue (subtract line 28 from line 22 and enter amount here) 29
Descri tion of Refunded Bonds complete this part only for refunding bonds)
Enter the remaining weighted average maturity of the bonds to be currently refunded ' )
Enter the remaining weighted average maturity of the bonds to be advance refunded ' )
Enter the last date on which the refunded bonds will be called , , , , , ' )
Enter the date(s) the refunded bonds were issued)
Miscellaneous
Enter the amount of the state volume cap allocated to the issue under section 141 (b )(5) , , , , ,
Enter the amount of the bonds designated by the issuer under section 265(b)(3)(B)(i)(III) (small issuer exception)
Enter the amount 01 groa proceeds Invested or to be invested In a guaranteed investment contract (see instructions)
years
years
(c)
Issue price
21
22
23
24
25
26
27
28
29
23
24
25
26
27
34
35
36a
b
37
b
34
35
36a
38
39
Enter the final maturity date of the guaranteed Investment contract, )
Pooled f1nancings: a Proceeds of this issue that are to be used to make loans to other governmental units
If this issue is a loan made from the proceeds of another tax-exempt issue, check box ) 0 and enter the name of the
issuer ) and the date of the issue )
If the issuer has elected to pay a penalty In lieu of arbitrage rebate, check box . , , , ,) 0
If the issuer has identified a hedge, check box , , . , , , , . . . , , , , ,) 0
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best
of my knowledge a f, they are true, correct, and complete.
Please
Sign
Here
Date
> ~rry E. Seonye rs"
Type or print name ,and title
MaYl
Form 8038-G (Rev, 5-95)
A\lll~~~...:EnccIlllmIMJ>ml<dl <C<tJ>\lll1Ili1ty C<tJ>rnmmrllit~~n<mml"'<C<ID\lllmlccnn
.
t,
FlOOM 801 'ClTY.couNTY MUNICIPAl BLOG, (11)
AUGUSTA, GEORG1A 30911
Bus. (706) 821,2488
Fax No, (706) 722-59&4
LEE BEARD
ULMER BRIDGES
JERRY BRIGHAM
HENRY H. BRIGHAM
'MLLIAM B, KUHLKE, JR,
'NM, "'MLLlE" H. MAYS, III
J,B. PO'M3..L
MOSES TODD
ROBERTZETTERBERG
LINDA W. BEAZLEY
Administrator, Administration
LARRY E, SCONYERS
Mayor
FREDDIE L. HANDY
Mayor Pro Tam
November 7, 1996
VIA FEDERAL EXPRESS
CHARLES DILLARD
Administrator, Operations
JAMES B. WALL
Attorney
Associates Commercial Corporation
ATTN: NANCY
Municipal Finance Department - 16-PL
300 E. John Carpenter Freeway
Irving, Texas 75062
Reply to:
. P.O. BOX 2125
Augusta, GA 30903
RE: Equipment Lease/Purchase Agreement #24813
Dear Nancy:
This certifies that Augusta-Richmond County is self-
insured for general Liability and is self-insured for property
insurance coverage with self-retention limits of $50,000.00.
Augusta-Richmond County has a fund balance available for its risks
in excess of $1,000,000.00. Augusta-Richmond County is responsible
for insuring the items under the terms of the above referenced
agreement, and agrees to pay all claims or judgments for which it
may be legally obligated under the terms of this agreement.
Respectfully submitted,
,
~~~.D~
LORI S. D'ALESSIO
LSD:hbs
.-c-----!I'-- I; ~ ..
'> "
... 'r... "':) '::
~ . '" '. n.
"~l ~... ..
'----, .
@
Post Office Box 204658
Augusta, Georgia 30917-4658
Telephone 706-863-3000
FAX 706-869-1666
~.
.. .
INVOICE NO.
. 8292
INVOICE DATE -'
05-Feb-97
P.O.# Order # Shipped Via Salesman # Terms Weight Ship Date
10602
LANIER
~ r-;HE AUGUST A RICHMOND COUNTY '1
L GOLF COURSE
o 2023 HIGHLAND AVE.
~ I_AUGUSTA, GA 30904
-~
S
H
I
P
I~E AUGUSTA RICHMOND COUNTY I
GOLF COURSE
2023 HIGHLAND AVE.
AUGUSTA. GA 30904
L' ~
T
o
Item #
PRO-FORMA INVOICE
. Back
Description Shipped Ordered Unit Price
Amount
1997 DS - Electric Club Car Golf Car
WI Power Rib Tires, Number Decals,
Sand Bucket Kit, Sweater Baskets,
Scuffguards, Canopy Tops, Tinted
Windshields
Serial Numbers:
AG9715-567933 thru AG9715-567987
1997 Club Car Carryall II - Gasoline - U
WI Tilt Bed, Light Package
Serial Numbers:
EG9715-568039 and EG9715-568040
Sales Tax Exem t
55
3,013,29
165,730,95
2
0,00
0,00
$165,730,95
· ALL FUNDS TO BE
REMITTED AS STATED
IN U,S, FUNDS,
IMPORTANT
PLEASE REMIT TO;
p. 0, BOX 75659
CHARLOTTE, NC 28275-5659
Miller #23313,J,' Rev 9/96
SUB-TOTAL
OTHER CHARGES
FREIGHT
SALES TAX
TOTAL INVOICE
$165,730,95
)
.
., L.,:
ESSENTIAL USE LETTER
(Sample)
, ~
(Please complete on your l&tterheJdl
Associates Commercial Corporation
300 East Carpenter Freeway
Irving, Texas 75062-2726
Gentlemen:
Re: Equipment Lease-Purchase Proposal Number.
;<~cf/3
I am furnishing the following information to facilitate the credit review process
for the proposed Equipment Lease-Purchase transaction.
A detailed explanation of the use and application of the equipment is as follows:
'% iu lI.Ju ~ ..;. /If{P1l {.t?'/ GfJ 1-1- rev/../"";< , (' qrl
.
rt/) ~ Is
The equipment is essential to the organization for the following reasons~
n ~.J t:V~ ~~""l!'--v,L.....,/ ,.t"..-u "'" v~ 0-1 < f v '..1' eo. r ^ ~, ,4--~., --r
c.wl, ~r~ v/l /~",,/,,611
,-
This equipment replaces previous equipment: No
If yes, the previous equipment was originally purchased in 19
v
Yes
Other equipment being used for the same purpose consists of.
The useful life of th~ equipment in the operation of the department is'
The future plans for the equipment are.
The program/department ,has been in operation for
years,
The source of funds for the payments due under the Eguipment Lease-Purchase
Agreement for the current fiscal year is the /J1t//1C ,,,,... I Golf CcJVr~und(sl.
The fund(s) generates its revenue from'
r~ Ivuh-r ..fo. ft../
6r~/I h~.f , uti' f k,y
,
Sincerely,
Lessee'
By.
Title'
Date'
!S~ TJllJIRM
.. 1 .
-
'y
. . FACT SHEET
Pl:EASE RETURN THIS SHEET WITH THE FINANCIAL STATEMENTS
..
~
PROPOSAL NUMBER: ;;. Lj .r /3
LEGAL NAME OF ENTlTYJ,VJ -h, ,e, (J,/)'<Il^,j {tJ./" Iy
DEPARTMENT USING EQUIPMENT' JflV'lIC ;tJrJ C;~ /..f' (rJI/fl ~
FEDERAL 10 NUMBER: Sf,. ;2..). 0 J.f 2 7 'I
NAME OF COUNTY.
Ii /chmulI J
(01//\ f 'I
STREET ADDRESS:
Please give complete physical street address. 00 not give
addre~ with P.O. Box as expre~ delivery will not deliver
to it.
.-2.30 6r/l/) ,
-.f ,-I." C o v'" Iv
jJl/f~J~, GA
S..f. f' .(C. -f
fJv,ld,'^-~_
3()'j1/
BIWNG AODRESS:
Please indicate any special billing instructions that are
required to avoid late payments and subsequent late
charges.
~3o ~al/") t
_C,-I'1 COV"l ~
/Iv'} vJ~ c;4
.f Ir./~ I
/J/d5
,1~7f)V
l2c1u"",- #/05.
ACCOUNT PAY ABLE:
CONTACT L,-s", S ),.tr',-rrJA.
TEl.EPHONE ,.5)1-,) 31V
SIGNATURES:
Please print or type names exactly as the person will be
signing the document. Signatures are not required here.
AUTHORIZED OFF1CIAL:
Name:
Title:
ATTORNEY SIGNING OPINION OF COUNSEL:
Nan.:
TEl..fPHONE ,.
MAJOR REVENUE SOURCE. Ad /fa/orfN< -r.. t.J
BANK REFERENCE' fJ//iuJ tu",.':-
~/~
~'l ('~.J I
,
hu 1-'&'/r.<4
CONTACT NAME: t~d/"" J.)~I\./""
TELEPHONE ,. (7o~) i2/- 3? 01)
,
IlAc:T.SH-"'M