HomeMy WebLinkAboutTEXTRON FINANCIAL GOLF COURSE EQUIPMENT LEASE
DEC. 30. 2004
9:49AM
5 P H & B
NO. 857
P.4/16
Lending help beyond expectations.
TAX"EXEMPT EQIDPMENT LEASE Lease No. TEl - 01-00006
This Leue is entclYGd 1\'110 IS otlhc d;\~ act tbnh below 1ly the p!lltillll identlfled below.
1. LEASE Subjact'l/:) the tenTlli hereor, 1...alsor lcalll:S \Q L.dseo, lInl11..casce 1CQStl; fl'01ll L<lI\SOT the equipl1lent lIntl Olher pen;onal propeny Logl.'lher with all
IIccessloll&, rClllllAlllmellts :wla~EOrles (oonelltlvc1)' ~SQUIPMENT") $lli fO'l\h 01\ 4IlY Schedllle! or Scbcdule(s) whioh 1113)' b~ oxecutcd from time to time
by the pania hllrela ~nd Ic1emihed as II Schedule of lhis Lea,c (Ind~'\Iidu.ny s "Schedule" and cOllecti"ely the '"511hl!Jlhllo(&)''), All Scluxlulc; shall be
Uu:arpo",lcd by rct<<encc herein lll,d 11'11& L.e:ao and .11 So~ulos which may be ~8Cutcd )l\Il1uant bel'llto shill constitute II sill8le IOlSe of Equipment.
2. SEL.OCT10N, DELIVllRY AND ACCurANCE l..6.'tUe will !IeIcct t1ld take c1cllv8l)' or all EQUIPMENT Jcued herc:under dite:!tly frolll
the EQUIPMENT'S 'Vendor, SIld 1'1 IOClltiot\$ o8~ upon by the Venc!or and \..t!IIllcC. U1ssce shall inllpec:t \.i1c EQUlPMEN1' allhe plAce ofclcltvery. Ind
upon lIcceptancc: llXeclll~ pnd dcllvtT to Loaor a CcrtitiCll\8 of Ai:cllpCllnce with rlI5po:t 10 each shlpmom of EQ\JIPM ENT. For all purpaSI!ll under thi.
L.ea5a, EQUlPMBNT will be oOIl!idmd 8CllepUld \IllCn ClIcelltlon oftha CcnifloaLll of Acc:eplopec.
3. TERMS AND REN1'ALS _ The rental term of the EQUIPMBNT shall bo II provllled in 1he applicsblo Schwule and ,".U commentC on lilc dllle Lcuee
exceuLfi the <.:erUticate ot' Acoep\llllC$ thel'l!tbr, and ~i:pl as RCt farth in StlO\lon 6. below. IlIall tennlnBte upon payment 0" all at the J'QIlI specUicd In
S~Qn I] to an~ Schedule 10 I"is lcal;e. ~ee aarOCll to JlllY renlln tblllllDOunt .nd zt the th1lll!l set fonh in Section II to :my Sohedulc to this ~e. ReI1t
shall be paid \0 ~r, but if tni~ Letie or l'I!nl:alfi due hel"ClUnder shsll be a~igned. lhml rent sblll1 be paid in aceorclAno~ with Ihe provisiOl\1 or SllClion 17
below. In\e:tS\ shAll bll paid OTI cqeh delinquent insllll1mcnt or rBllt snd other ~lII1\$ from tbll due elate unlil paid lit the 11lU: cor l.DllSor'sthllll prevailing lato
p:lymenl eha"c. or the hl,hesl 'tile leplly p8111\i&li'blo. whioMver ~ 1_. !.esSllllllg)'CQll that u.etpl as set faith in Section <I below, its cblil!Alioll to pay renl
an4 any other ~ payable htll'lNnder. and the ne\1tlJ of I,.cssot thereto Ira ablow\\! and lIIlCOnditiontll and are Dol 5ubjoollO an)' ablltemlllll, reduction,
setofF. dwcn5e, cQunllll'llloim, or reeouplnen1 (oollcctlvely "Abatem\ll1lS'') for iny rooson wbatlOCVCT. Eltcepl Sll olMrwiaB Cj(prt!SSly provided herein. this
l..eue shall nol teflnill~\C IlOl' ,hall thl! resplCtivt obl1gllLiollS of Lessor or l.alLec be arreole4 by T'IlIl&OTl ol any defllC\ in, or dlllZlagc 10, or IIDY log~ or
QesmlcliClll ofth= EQU1PMIDlr (rom any oauae ..,bal.9Oever, or lhe Inrorlilrence with the Uge ibt:Teot ror any rcDSOfl wbllnocvcr.
4. NON-APPROPR1ATJON- I the event no fIl"* or iMufficicDt t\Jnds are awroprlatsd and budlleled or are oLherfiise IlnQvalbble by an)' mll:\n.q
WhatSOlWCf in Ill}' ti~1 period rOl' rml due hcreunc1er. Lessee -.;il\ IIlllnc:dia\A!ly notifY l..es$or or lIS utl~J1ee of' '\JOh OCCU1TOl1CC and rhi8 Lease shall
tennlnale on the last c1ay of the tiacal ~or1 f'oT ....hlch appropriations were received wilhouI p~11Y or expense to L.ea~ of any 1cin4 whalGoevor, except o~
to the partlonK of 1M l1ll1tA11IllymetIU hemn agreed upon for ",hie" funds shall hIve been IPIlTOpriated and budgeted or ate othel'wise aVlli1.able. In tit\} ovcm
of LI\lch tmttlnlltion, l.ewle oSrea to pc8l:C:\bly IiUrrender poIlleuiclD 01' the EQUIPMENT 10 lJ:s90r O11lhe dale of lonmill:lrian and tbut Los9ClT ~hl\H have all
Icpl and c9ulublr rigbl$ :1M relnGdill& \0 13lce posswo;Cln of lhe BQUI'PMSNT. Upon such lmlltnllion, and 111 I1ny\imc \htmllnllt'. Llt5sor '1llI)' enter any
p1t;ll\~ wuh 01' wltmlllt legal proce$ll wnert tho EQUJPMENT may be and IAK" poSACl;sion lhereof. (~S!ce lIgTel!ll 11w1: (l) IIllY funds 8ull\nnzcd ar
appropriated tClIt (or tile l'ellUlI or ~quisilion of this Equipment or (unctj.,n1lly silnilll' ec.tulpment In any t'isc~lllpproprlation pcnod sl\:lll bu cpplied \II the
p.ymen15 or rent hereunder unlilsuch iUr4 .rc allauatod, (il) It ha:I not lD cIa1A! :lCId will 1\01 in the tirt\.lrc mgruo 1C1 give priority or p;u;IY 10 lhe ;lpplioqt;on <II'
such Funds to the IilIISlI, hire. or scqU'ishion oJ" olher fUnotionally ~imilar CLluipmt!nt; ond (iii) il will UIO Its bm clTorts '" oblnin llulhorization and
:tJ1prcprilllon o(Sllch funds IQclucli,,~ wilhoUlllroilalioll, the lnolusionln iLS budge!. fot Cllch tii~al.ppt'Opri311on perind during tht! tenD h~1lQ1'. a raqlWSt (or
9deq~lC funds ICl mte\ I~ obligalio", IIIlder this Lease In rull. Thill p10vifiklll ~hal1 nol be con51Nod to liS 10 permil1..es9OC 10 lerminale Ihill LaKt in ordllr La
acquire cimil1r or eompetiti1/~ equipmetll from a\lOlhef pony or manufbtIUIW 0110 alloCAle funds lo dirtll:UY or indil'ClOlly perform c:8,\l1nti11l1y the &Rme
funclicllS for which tin. EQUlPMBNT Is intended. Les$ee warrantS thaI II has .c1aqUlllC i\lnd~ to lnee! it" obllgalions ilorC:llnder durill8 illl curre01 Oscal
IWWpriulon pedor1.)
S. AUTHORITY AND ^lI'fHOR1ZAT10N _ L.eslec rllpl\!&eIlW, covenlJlI& IInd wv.n_lllS, arid ir l<<i'lC&ted by l..cssor ",,111 deliver an opinion of
CltlUMJ;e!to the e1Tee1 that: (I) tASte is a f\llly C01\i\ilVlcd poliliC\!1 s\lbc!i'viaion or llgent.ly qI the Sute Indicated below; (Ii) lhe eJlcc\\l\OIl. dalivery llnd
performance boY LCSll~ of this J,.easc hive bCCII duly Moori;zecl by all neoes5lry action on the part of the lAssoo; ana (Iii) thb l..c3se IIOnAlTulC$ a leg,,1
lialid and binding obl1ptioll or lhe Lel)~ lllforccab\e In si;COrdallDc with ilS IcnnK. Lessee 1I~ 1hDt: (x) it 'Win do OT' C91lSC 10 he cIollQ all thllli' ncc:"sW)'
\j) ~c and keq:llhe l.Bpc in flJll t'ol'oe and e/'ftllli (y) It h;u CltllnpUW with all bicldlns requlremnnlJl whore nece.l~1Y ~nd by d\le no\ific~lon preo;cntc:d
tbis Lease fhr approvClI and adoption IS II v:tlld ob1iption on it. part; and (z) it h-. S\lfficient lIpptopriatlon or othu funds available 10 pay 1I11111l1OUnt& duo
hereuades' for \M C\ll'Te(\t fillCl\1 period,
6. PURCHASE OPTION _ UPOll dllrty (30) days' lInor writlCn notice nom Lessee 10 ~r, sncl -provided tho L5co Ilt such t\tTlll or lit lIny\ime
I~ft01', I~ nOI in det'Pull h4reullder. Lessee s}taU ha~e tne right to purchase all bilL !IC1lleil1o lhan all tho EQUlPM ENT on the 1,m4e Pa)'lTlcot d.atcA $lll rol1h
m Secti011l1 to lhe IIpplieable Schedule by IlIY!Ug to L.esior 011 ~h cl'ilte. the l.el2so Paymont then dUll togelhcr witll the Conolllding Payment illlOUTlL ~
forth opposite s~h dall!. Upon ~lIridllction by lAsee of ~lICh JlIlTClwe conditions, l...""r willl'lllQ8.C in security inlc:rct\ tn the EQUIPMliN1' 10 t..ame llnd
will 'Wrt1lnllO \.csSec that the! EQUIPMEN'T is (rea;md ,lear of any lillN eTellted by Lestor.
,. NATURE Of THIS AGREEMENT _ ~r Ind 1.esltee o.gtee 1hut il ;s thtir Inlrntlon ll\llt lhe InlCl'CS\ af Lasor ill the 'EQUiPMENT is :1.\ II
sOCIlred party,lIJId thaI lA~r noithc:t IuIi 1\01' will havo ~ny equi1y in the EQUIPMEI'IT. The partlee 1I81'<< that the aur~ I'Ilnt due hc;orC\lnqlll' CClnstitule.c
the pureh:tse pri,o oflhc BQUIPMENT 141ge';ber wilh Ibe intcl'llSt on the ul\llmotlOoAd 31nD\.1nt thereof over the term orthi& I.rme. \h:lt the illS\allmcnts Clf ratl
Ci)flI;til\lle prim:ipalll!ld intoreIJ!., e: sel fonh on Section II or Ute appliuble Schcclulc over' thl! term o1'1he LeallLt, thallhe concluding pllYlnenl IllnollnU shawn
tl\el'l!l'ln reprl!!lClll tbe unpaid principal amo\lllt of the p~haae ptico of the EQUIPMENT toel!thllr with appl~ublc premium an the pl)'l1l4!nl datl!llto which
Ibe)' re181e and that upon tho due IInd pU~llllayrneaL of till! illitlllhnmlt of ren1 anel allleT STIIQunt& due l\e\'CUl'lder and tbe por/'Qrman~ of l.cIlsee'E
obli~8Ii()ns under this LaM, \.Qsstlr'. l\e'.)urlLY inlel'esl in the EQ'UlPMENT shell bo releaeec1. IAgee will III 1111 limes 1=Tote<< ~nll dcCend, II ill: Qwn IIOst and
expen!e. ~ar', intctest In tlu! E.QU1PMENT ag:ainst all ,laitm. liens and leg.1 pro~gelI of efll4il0\'S ot" L\$tlle and olher pe1':KlIl!:. and kaep tho
EQUIPM ENT 1~1!6 and olear 0'( 0111 ,uch cl;til1l5. liens and llroeCllRel:. L.cllsee gh:dl nolo witl,nul LC89OT"~ prior written c ansan!. J1llR with possession or cnnlml
of tho-EQUIPMENT ClT !lell. pledge, tnangaae or otherwise c:ncul11l)Cl' lhe eQUIPMENT Dr :lny JlIIl' thereof 01 usign or onC\llJ\bet' .ny Inl~ under thIs
UDle.
&, DlSCLA1MER OF W^RRANTV _ l..e$Sor 1lllI)'. or lII3Y not, lie the mallufaCtwel' or vondor of thl BqUiplnetlt. Withoul :2fl'ec:ring ~~r's
liability) If llny. as 1T\:lIlufllcturer 01 vandar of the EquIJlment, tbe ~;II1.icS 8@.!'llI! WI LESSOR IN ITS CAl'M:1TY OF LESSOR. MAKES NO
REPRESENTATION Olt WARRANTY. EITHER EXPfl,ESS OR IMPUSD, AS TO THB DES1ClN OR CONDITIO,.., OF nfS EQUIPMENT. ITS
001-0 II) 1986-0 I.oOS..oQ006
7S~ 'J'gl\ &.empt EqllipllIcnt t...l:W\
Page 1 o!l
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DEC. 30. 2004
9:49AM
5 P H & B
NO. 857
P.5/16
MEItCHANT....BlUTY OR P1TNESS FOR ANV PAR.TlCULAR PURPOSE, OR. ANY OTH1:R R.EPRES.BNTATION OR WAAAANn' Of ANY KINO.
'NATURE OR DESClUI'TIO'N WITH RESPECT TO 'l1iB EQUIPMENT.
9, INSURANCE. During the term of th!li t..cau. J..essec sholl, at ita <<pense, cff'a:t an ""II Risk" P~ insurance policy covering the
EQUU'MENT. Suoh peliey slWl be In form ll1Id amount and withil1!lllTCl'll acceptable: to \..eIl1OT. The NI Riik PnlJlC!tY InlNnmec polley sl1alll1lmle the
Lessor IS lo!~ p~ snd stiRn provide (i) tor no \c:st tbDn dl1TIy (30) da~ prior written notice err CAncdlatiDll ofnon-renowullO ~or; (ii) that such policy
s~n not be 1\l"f:l~c1ated IgalnS\ 'L.:s!lor or lIS ~igm COT .ny vioblion ai :in)' \erm of t~ polie)' or Lewcc'lI IlppllClltiDJl thCl\'lIbI'e, atIll (iii) 9llch insurance
pnm3IY Insurance and any other insurance oovariQg l..e\Isor or its l\S.\igllS shllll be SllCQndlry and eK~ of such polley, The polio)' shall be maintained and
In Ilmount J1(lt 1m than the e:Urrellt rep\.aumCnt oa" orlbc BQUIPMENT.
10. W$S OR DAIYIAGE TO EQUIPMENT.
5. Les!ee hCIllby a8NmelllPa entire risk 01' 3n)' loss, lhe1\, Gamage 10 or dcatr\lclion of the: EQUIPMENT, or 311)' p3rt !he~. from nny cause (hctoinllrler
Mto&S or Damage"). In the event or loss \0 Ihe EQUIPMENT, I..esscc shall pTOlllptl)' !'Cpa" salnB to the :Ipprcprlale iR5Ur.sncc compouiei, to Lc~o1", and to
al\ aoncr;med g.ovcmmentRl DllOllCiG, ~ shall not be relieved /'rom ill (lbli8atiolll to pay tel'Il or 10 perform any Olller of its Ob1iglltiollB under lhi~ \..ctue
by rea,&On ora"y Loti Dr ~11\1I1J1l; all of Lessce'~ C1bligtltiON allll11 eontlnuc in full ferae: ADd eflilat netwithstllnding llUch Lou Dr Damase.
b. In tlta ""ent (If auy Lass or ~ae. LaesU,l,t tile 1I0lc option of lAeor, aball eithc:c:
(i) pron1plly Npair the EQUIPMBNT ancll'laCG it in llood 1'Ilpair IInd world", condition in aecOTCbnIlEl wI\h lhll stancUiJdll aet fbrth in Sectian IS. below;
Of
(ij) pay Lessar the Stipllbtad 1.4s! Value, IlK hereinnfter doflnc:d, wtithiu ShLI:)' (60) clays of noilficacion by IAaor milt L:uor hIlS elccled \Xl rcc:cllle: the
Slloulalcd l.OIIS Value mhCt'thnn require renairof tbe EOUIPMSNT.
c. "Stlpltbtcd Loss Value"~ ahall be (I) :m alnount equal to the total Ilf all l'C!Ilt and allY olher 1I1tlOlInta, it any, dlle wllh respect 10 the lfOlSlI of the
EQUIPMENT lIS at the dJl~ of PIl)IIllW orthe Stipulated 1.0/:5 Value plus (ill till! concludlnB paymcm amoUI11 shown on SlIhedule 11 for Sll~ pll)'menl d6lC
d, Lessor AhAlI pa)' Iny iI1S\1~nC4 prcccccls received pUllI\llntlo Seetion 9, abDvQ, to IfItiil'y SllY obUl:'lluon of1..eiseo to ~ h~ and romit lbe
bilaDcll, ihny, to J..tossce,
11, PAYMENT Of TAXES BV LESSEE. In Ddditiou to rent. l.al:ce shall plt)' prcnnpll)' ill ~UIl, lISU~S1nene; and othor SClyemmlllllal ohlrgcs
levied or asees,ad \Ijlon L.e~'f, lntarcsl. In the EQUIPMENT, upon the Ulie Of operation thCl'oot. or on thl ClUllin~ aNing tqcrd"r<mt. and lIS additIonal
suma duo, shMIl promplly JI'lIy or reimbune tblllea&ori~1r III tuCl, Wl!Ill1nl!\11S line! other tOl/ernmomaJ chargl.'lll (lncludinl fee5l'orlitling nnd rCIPltnltion of
the EQUIPMENT) levied Dr al~ .~inst and paid b)' ~ Lasol' on accounl of itS Interos:t In the EQUIPMENT or Jovied or asSO!l8cd a~in.t the
EQU\PM.ENT or any pan thereof, for thD U&C or ~n th~f. or tho le;lSill8 thereof, to the Lesliee. or tho tenl "~n provided fM, or the earnings
arl9in~ thcref'ro\TI. uolusi"e howevl!l' ah~ tallCS bued 011 nellnllGme of L.es6Or,
12. POSSESSION AND USE 01' EQUIPMENT. Lessor eovC!1l11lU \0 LcAsee that as 10M as tAsee shall not be In del':l141t tmOl!\' !hI' LeaRe.
LeuC1l may jlOSllCSS alld lI,e the EQU1PMENT in aeoordanQte willl tbia ~e.
13. I'ERfORMANC~ OF OBL.IGA'fIONS OF LESSEE. BY L.ESSOR - If I.essoe ,Mil IlriI m promptl)' p~ DI1Y of its obli~ljOn5 uncler thia
Lc:w. lA,cr 1\'111)'. al any tlmc l~fta, pr.rllJnn the pme wllhallt th..-reby WAiving the dllGlllll. and LlnY dCpeJlSl! Dr liabili1Y incumd b)l L.enot", tog<<her
with \.r:9see's \Mil prevllilinlllare paymen( cb~lI or the hlShen IlIwful nile. whiC:MVDl' is IC!~. IhaU hI: payable by Losaec as ~tjonlll tllI\t hQr~nQer.
14, lNliPEcrJON. l.cs~'Or or tu IJt:Illa ~h.1I M"C the righl r,'Dl1l time 10 time lIurinl!. TCQ.f,Onablo blllrillCl5s l10urs to enter llpOll L.ossoo', premlClls. or
elacwhel'l!. for the purpose of confirming the Cll.i~e, aoodilion. and proper malllllmanc:e or Ihe EQUIPM liNT,
I S, OPERATION, MA1NTeNANC& AND MODIFICATION. Lmce shoU ClpenliB. pOSMi, llnd mWt1311l tbe: EQUIPMENT and &IIY reeo~
opert;llnln~ Ih~rclo in compliallce ...Itb all bpplloable Fo:dor.1l, StaUllnd IllC1lll~ws Gnd fCiUlstiom. Lc:!IM:e shall nol make any IJ\3lc:Oalah-enlialU to tlla
EQUIPMENT Wilhoul the plior wriUtlll c:4me11t af~. LeIscc, ahlll 111lS own c:cpem.e.. InAinl\lhl and kea:p \ho EQUlPMSNT In goocl arder and npair in
accordsnec: with tho manllrac\UN1's publisMclllUJ1Ualland ather inStl'UCltions, All pam, ~oriell sod athar JlCI$Onal prop(lfty whie:h aN added or bo:ome
I~chod to Ihe EQUIPMENT IIhBII illlmedlDIc1y become the pTOpertY or I..cs&or alllCl c061, aM shall be cleetned inClorporated in the EQUIPMIiNT and a~bject
InlhBl_.,ofthi~ IAI\l'e.
16. INDEMNlTY. I.AMe shall inclemni{y l.Caor IInd save, protect, det'erul. :lncl hold Lc&50r I\aym!Clt froln an)' and all Iiabilhy, II'lSS, carnage.
c:q:erue (including lopl ~erJ&cs Ind NlIS0J\3ble altomeyE' t'eeB), caulCl\ or Qctloll, sum. claims or judgment~ ari!itlg t'Tom Uljl1ry to pllI'iOI1 01' propctt)l or
m11ltips ftolll or !;lased \Ijlon Lessor's intercel in the EQUJPMENT, or tbe III:L\llII or s11cgad selectiDn, concrol, w:e. operation, nulintenl1nee.. pD'"..aClSlllolI,
dellvCl)" or tr;mSpOTtIIlioa of ~ or all of UlD EQUIPM eNT or Ihelr lllcati'l1l or condition 01' from l.L~eo'. f:lillll'9 10 qualify as 3J\ ageno)' or political
s\Jbdi-yis1011llf tho Stille Identified belcw within the: It1lllll1;Di or Sect{on 103 of the: Inlernal ~Vllnue Code af 19&6, U amenlle!.\; Jnd $b.1I, .t ~ree's own
1lO51 and ell.pm9C, defend lID)' ond :\11 suitt whlll!l lTU)' be bl"Cl\l3ht llgainst. l..es!lo\', either alone 01 in colliun01.lon with 0\blltB. upon 31\)' au.ch liability or
elJimtll\.
17. ASSIGNMENT AND SUBLEASE. Leuee sbulll\Ct $ell, tnJllsfer. a!l8itn, plecllle: or sublaaJle, ilS interBAt in the L.e:t,e or the EQUIPMENT, wimollt
without 1hc prior lalriltetl c:cnsent oft..essor. !..Issar I~y euign thiA L..c:w: Gnd its ri&hts herwndcr in whole or in pltlt. without l..eiSoc:'l e:OJl8Qllt.
l8.EVEN7S OF DiFAULT. The aCelllY\lnce of Qny of \II! follawillJ shall, 51 tho option of Lessol' and without any notico other thin provided
hertin. COIlEi!tutt an ll\ICllt of default undl;!' thi~ lAasC: .
t. Lessee fails 10 pay A~ I'tll'I1llT other SU\tlS dllc ngreund8l' :\nil AUCh (pllure shall continue for ten (J 0) 4ay',
b, Leme fnila to perl'OIlJl ~D)' other covenanl herein and suoh faihn't continues ferr fifteen (1 S) dDyll ..fter wTinen notice thercofby ~ or I.cuec.
o. Lossee files II pelition in b:mkrllptl:)' OJ' fllr rem-pnizotion Dr CoT an .",ngol~nt p~tsUanllo tbe U.S. Pedenl Banlc.rllp~y Act, or DO)' SImilar J..aw.
d A l'Cl:ei\l(ll', 1T\J81Ct or liquldllOT (or other simlllr offioill) is appolnled fat 01181:CS pDJ&e.ls1c:L Of chorge of L.cssee, ftubstantl~11y all of IlZ 8S~ or illY
EQUIPMENT.
G. Les8oo's itUert."It in '"y ElQlI1PMENT i! levied upon or ~tt3Chcd In any prolleedlnll, and sueh ll~QtS~ is not vac:a:iQd or dl~h3rzM wilhln ninlltY (90)
days thc:reDfier.
f. Lessse ultcl'l'Ipts to sell. UlIT\!\fer, ene:umber, sublct Of plll\ with l'Cl:ll:eSSion of ony EQUIPMENT wimClll\ lA9or'; plioI' written conPCnt.
19 REMEDlES 0' LESSOR-
a, ~ the pCll\ln'C1\I)C: of 1111)' evtlnl ofdefalllt. Dr ~l OilY time thel'~aft1lr, l.es~or, 81 i~ 'llle option may lllltTQi!;e aDe Qr mere of the followinS reme44es.
(i) l.ccsor tnIly lermillS\e this ~SlJ upon writtea notice III L.cs!ee, without PfIljudicc: to :lll)l other remedi\!l1 hcreullder, ,
(Ii) l..e!\!Of lit Iny tilne may Imtcr any premisetllll1'Ul or withoutlej!lIl prl)Cl$S where 1M 8QUIPMENT may be and llIke PO$SellslO\l tl1ereof wlthollt sucb
~don oollSllwung "Iemlinotion (11th\! L.oose unleK l.~or lltltlli.s l.es!;ee In writinr. otsWlh cIfeot; or
(iii) Pto<<lld by lIptlTOllriAle :u~tion either :II bw Dr In equity 1() enfo~ peTfoJU1lll'lCG by 1.M~ of the applicable CQVllllan18 of tlJia L.e:al;ll 01" U1leOovor
cllllltlSeJ for bl'llllCh Ih_l'.
OOl.o191986-0I.OOS~6
7590 TIa EltclIlpt Equipment l.ea$Q
p~c 2 of3
DI::.C.30.Z004
':::l:~0RM
S P H 8< B
r~o. 857
P.6/16
b. \...esAor\ UJXlO default hereundet, ~n alEg bit enlltled to rvcover Q~ liquidllled dalJll\gl!S for tllD Iou of the b:rIJ;l~ln snd nOl as a penAlty an IImOllnt equal to
Ihe StlpUIAled 1.0$8 Valull ot Ihe EQUlPM BNT, as dcdined In Seclion 10 IIbove. l1$ of tbe ckttll I'll' the eV~ll of dau\I]t pll.l8 IntCl'2S\ at Lessor's then I;UlTellt
lllta pAyment charlie from 11Ie dalll of dcftnlltto tbe c\Jle of pl)'mem. After I'IlpDSnSAlon of lhe EQUIPMENT by t.cuor. Leuor shall al'lcmpt to nrltlS:llG
~ee'a dalblllC!lllg lIarelnuft01' provldul. LeKSOf, In i<<s 5llle dl~rcliQn, ,~1I 3C1I ar rolllll&O t'he EQUIPMENT in a public oc pnvallllranSllCltion 11 whioh
Lc:sIOf l"lI)' be Iho T>urcha.1;Cl' and Lecsor lJIay usc Lessee'. prani9l:C fot the I~llqalng wilhout li:lbili\)' fllt tcIlts. CO$tl;, d1!tnagl:l. or 01h<<will8. The procoeds
of Nell we or leal;e, If IllY. sball he Ipplied first:
(i) 10 all of the 1.es.wr's cQ.Sts, ~11!.ea and 3pt/llei! inCl\lrred in tlll:ing. relDovinll. holding, repallinS and selling or lep~ll& the EQUIPMENT: t~en
(ii) 10 the event 1101 pre"ioll91y paid by Leuee, to pay 1.1!lI~r nny cIuln:aees then rtllnalnilli unpaid hcrCllnder. tbon
(iii) 10 l'I!imbulJe l.e!cee auy S\Icb IlUms prevlollsly pai<! by l.tli~e as damage! hereunder.
(jv) A~ sw-plus &hall be tdaincd by J.euor. wsce shrill pay I..esSOl' an)' defiolency in (i) and (it) withIn llftl (10) clays of wrinen request tor SlIIlle:.
0, No remedy of I..emlr hereunder thall be C!lCllllWlvc af /lny other NtTItdy Jlmvk\f<l h~n or by law. Each 9hllll bel ClwnutatiVl! and i1l addldon to every
(llh~ l'llIl'lolly. A wlliv&r of d.rault shall not be a wsiver of ImY olher ar /l\Ibsequent dafault.
d. Arr; cel1llllL on Ibe torm. ohny other a~ncnr exMllcd between the p311iu (incl\ldlng any c:ntity COnl1'01I\lCl by, eontrClllinp; orundcr common IXlTllrol
with L~) m~y be declare<! by l.c!ssof 10 be I deI'Dult undCll' lhe tern~ of thi~ LeolCe or Qndcr tbe lenns of any Olher IgRlClnOl\t between lAsl:ee llnd LC880t.
Anv ddllllll under lhe tcmu otthls l.e1l$O may be: dccll\1llf.l bv laccr 10 be a c1c~l!lt under tile lemI' or aRY Ol/lof lSNC!Tlenl betWeCll Lessce and J..e.ror.
20. FURTHER ASSUAANCE - La&ce shAll dUr1ll1 tho lenn hereunder hereof 1!ll0CUlC and deliver tel I..HEor suell INtI\Imc:DU and wuranCCll as
tc.s!lt'lT rensnn:lbly dlleln~ n~ for tbc protcetion ot ~or'c I'ilhu hereundDT. '
21. NOTICRS _ ....11 notices sh.U be in wnting and dccl1led delivered when posted in the U,S. Mails ~lttcrecl or CBrti!i~, return receipt rtlqlleSllX1,
to \.llC!IlIP or LeS$ClC! al1hi:!lr J'ellPBCllve addrc:n shawn abo'Ve or at In)' Illlei' addross ~It known to the sender.
22. SEVERABILITV. If any pl'Ovbion hemD i! invalid IIndmr Iny applloable IllW, sllQh provision sbllll be ilUlppliCllble and dC=lncd omlned.. iNI
the remaining prtl'\lisions hereof,lnoluding defaull remcdjc&, sh:\1I ~ giVCll en'cet In ac:oordance wl\h the rmmife&t intent wereof'.
23. ENTIRE AGRE5:MENT, NO ACENC\', TITLES. This instrull1l1UI, incllldina all Ippt;ndICQII. COl\ltltuteS the tOtill: Agreement between the
pllrtiCll. No tenn or provision of this l.cMe ltI3)' bo cbansal. ....iyed. amendo:l Of Icm,I~lcd el<Gept by a Wl'lUtn lI!!reement signed by both JWl.iot. II is
Cllpl"Cllsly agreed tIu1t no 11l8nllfact\lrer Dr other lhini pal'ly is wthorixed to ac:t u an :\\.Il!lll or on behalf of the L.a.ll\Or. The tltll!li of the SectlOn5 ofthi, t.l!ase
IU'C f'OI' tonvll1ience only and WlI nat define or limit &11)' of tile temI~ or provIsions h=f.
:14. Flll/ANCING STATEMENTS. Al l.enor'9 reqllttll, I.es:lee will join Lessor in l!llolCUtlng .ny neeClSllry or appropri.\e flcanoing Stalen'JllIlts.
A phOIOSr:whic copy oHhis t..cuc ma,y be r.Jed u a i'\nll\oiJl~ SUltamcntllnder tbo UnifQT1n Co""llO'll:ial Code.
2S. JURISDICTION, APPLICABLE LAW. Any, displlte aMOS 0111 qf this Laa~e not otherwisl! !c:t1led amicabl)' eh1U be sdjwlieGted In Ibe
court! Ilf !tOCTlII jurl~icrion and the laws of the State indill.1tW below.
26. TrrU:-Ti\ll.! 10 IhQ EQUIPMBNT !ltall pass 10 and vesl In ~ee upon lhll eOmmtlllClllncm of th" Limn of the ~e. I.G&6or, however. shall
rC\llin 11 AeQurity int0rc81 in the EQUIPMENT Ilntill.el,ec: shlltl have madll ~n I~e pJymenls required berwndc:r and sMlllJaVll bpI an<! perfonncd all tile
ogn:cmontB n ha~ modo herein, notwithaW'l~ng thl! poeseslilon and U$II oFtlle EQUIPMENT by l.esliCC 11& hem" pn>vldcd. l.e:uee hem,y gl1l.nli a g~
Interl!S\ ill Ihe Equlpmelll described in the Schedules heretcl :md ilS pl'tlCeods Kl wecun: the parl'ortnllncc :\nd p3ymcnl of llll obligations And Indebtadoc:llc, of
whalC\lCl' kind Ind whenever c~. cither dil'C."l:t or Indirect, IlbtolUll or eonllngenl, prh\lll1)' or S\l101ldary, d\Jc 01' 10 booomc due and wheth<< now elUstlnt
Dr \1~f1c:r "rlting ond M'M01IVel' ctVideneed or allquircc!. ....belher joinl or seveNl. or joilll ond seYCI'3I. of ~tll! owing tCll.e~or (includint but not limired
10 aU of l.r$see's oblill81icnsunder dris Lea!e) or any otkcr affiliate of l..859or (In ofwhioh ma)l be herelmll\er eollec:tively rcfcrro:lrn as Ihe "Obliglltioftll");
and t.ecscc h~)I agr= that the QlltlI)l tICl which IAsor is otIlillcd 10 purcbll'JC lnoncy flriorily for i" scc:vrlty in1are.'11 in such Eq\lipment Will be:
deterl/1ined by reftrenee to tb1t total TtlIIt8lllll1OlInt Qwilll, if lU\)', with respect to sueh Equipment under tha ral&vlllU SlIOOdulc al me time of Iny such
dolllrminallon.
IN WITNESS WHEREOF, LlIe l..e!Itlor lIlId l.e&9cc have eaoh Inll$ad Ihls ~I to be: duly e~c(\ulcd.
This LealIc is ~oell\Cld U Clr )).f'to~t.:J'.'o..p f'~ I 20~.
LESSOR: LESSEE:
Name: Te."Ctron Financial Corporation NQl1o: Cln OF AUGUSTA, GEORGIA
I1y:
NDme:
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$Ff :~
Tille:
Documentation Manager
Tille:
Augusta GA 30906
An Aleno)' or politiesl Subdivision of
[hI! State of GEORGIA
530 GREEN ST.
AUGUSTA,OA 30911
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Add~:
Addrw: 1451 Marvin Griffin Road
....
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OOl-oJ9l986-0Hl05.00006
'l5!1O Tax E~llITIpt liqllipmenl J..cue
0_ 1, '71 ~,. -,tJ~ ;f>1B'?~'
lJ"1.{O~~~~ O~ <Jr
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FEB-24-200S 13:55 EZ GO-CRED IT
706 7% 4572 P.03/03
,pareo by: E-Z.GO Textron ! r. 1 0 A n e L y S ; i 2{24/05 W 12;52B~
Payment AmortiEatlon ~8port Fil. NBme~ cSe.IAC
stomer: VP - A~9usta "uniolpaL - Addendum A
terut Rete: S,5000r. (Monthly)
Pri nc:ipa l Accrllcd Accrue.d
'er 1'10/01 paYIllf#nt Principal Interest Batanc::e Internt Il'It Bill.nee Net a~llmce
._____--~ ___--___________ ~_______M______- ~--------------- ---------------- ---------------- ---------------- -------*--------
0 1/1S 0.00 0.00 0.00 156,!Se.96 0,00 0.00 156,358.96
1 2/15 3,135.00 2,418,35 716.65 153,940.61 716.65 C.OO 153,940.6'1
2 3115 3,135.00 2,429.44 '705.56 151,51'.17 10S. 56 0.00 151,511.1"
3 "'/15 3,135.00 2,440.57 694.43 149,010.59 694.43 0.00 149,070.'>,}
4 S/1S 3,U;i.OO 2,451.76 683.24 1'6,618.83 683.24 0.00 146,618.83
5 6/15 3,135.00 2,463.00 672.00 144,15;.&3 Q72.00 0.00 1410,155.83
6 7/15 3,135.00 2,47'4.29 660.71 141,681.5S 660.71 0,00 141,681.5$
7 8/15 3,135.00 2,415.63 649.37 139,195.92 !i49.37 0.00 139,195.92
8 9/1 S 3,135.00 2,497.02 631.98 U~,Q9a.90 637.98 0.00 136,698.90
9 10/15 3,135.00 2,50&.46 626.54 134,190.44 6:il6.54 0.00 134,190.~4
'0 1'/15 3,135.00 2,519.96 615.04 131,610.48 615.04 0.00 131,670.48
11 12/15 3,13~.OO 2,531.51 603.49 129,138.97 603.1.9 0,00 129,138.97
---------------- ---------------- ----..---------- ----------------
005 12/05 3..,48~.OO 27,219.99 "7 , 26~1. 01 7,265.01
12 1/15 3,135.00 2,543.11 591.89 126,595.86 591.89 0.00 126,595.86
13 2/15 3,135.00 2,554.17 580.23 124,041.09 S80.23 0.00 '~4,041.Q9
14 3/15 3,135.00 2,566.48 S68.52 1a1,474.61 568.52 0.00 121,474,61
1S 4/15 3,135.00 2,578.24 5S6.'76 118,896.37 556.76 O.CO 1 ~8,896, 37
16 5/15 3,135..00 2,590.06 544.94 116,306,31 544.94 0.00 116,306.31
17 6J15 3,135.00 2,601.93 533.07 113,704.38 533 . 07 0.00 113,704.3&
18 7/1' 3,135.00 2,613.86 521 . 14 1'11,090.52 521.14 0.00 111/090.S~
19 8/15 3,13).00 2,625.84 S09. 16 1ca,464.69 509.16 0.00 108,464.69
20 9/15 3,"5.00 2,631.&7 497.13 105,826.82 497. 13 0.00 105,826.82
21 10/15 3,135.00 2,649.96 4BS.Cl4 103,176.86 485.04 0.00 103,176. e6
22 11/15 3,135.00 2,662.11 472.89 100,514.75 471!.89 0.00 100,514. '75
23 12/15 3,'135.00 2,6'/'4.31 460.69 97,840.44 460.69 0.00 91,640.44
----~----------~ ----.--------~-- ~-------~------- _M__.~----------
2006 12/06 37,620.00 31,298.53 6,321.47 6,32."'7
24 1/1$ "3,135.00 2,686.56 1,48 . 44 95,153.88 448.44 0.00 95,153.138
25 2/15 95,590.00 95,153.88 436.1;1 -0.00 436.12 0.00 -0.00
-----------~--~- ---------------- --~------------- ----------------
2007 2/07 98,725.00 97,840.44 884.56 884,56
=~=~.~;~:=~;~=== a.~_.S~~..=;; ~e~5.;=~==~;~=== .-====~~~-;=~=~
To1;.~~ 170,1'130.00 '\56,35B.% 14,471.04 14,471.04
V0~o tt= ll~J1
VersIon 6.3d
P..g* 1
serial ~; aoo-uc
TOTAL P.03
~
FEB-24-2005 13:54
EZ GO-CREDIT
5 P H g B
70S 796 4572 F' . 02/03
NU.~t ~.~/1~
DEC.se.za04 $15eAM
TEXTRON VH\J/\ N{~j~\t.
Len4iH1 h,lp ~nd .p,auiQIU"
TAX-EXEMPT BQlJJPMENT LBASE
L.... ~o. (l , ..oOOOB
-
S;be"Ale No.. . 01.00008
l"llrcl... Order !'foe ... -
V.tlor Mer,rence ~o.
1.
lJlIU'lptlaxs of 1A...d Elllulrma-("!I:l'olipme$"):
65 !.Z.OO TXT"LBe'T~IC Tap, Windllhitld. Slr\d ad-
=- : ~ ~
,
~
1. · Locailn 011:9111'.-
AUGUSJA MUNICIPM. GC AUGUflTA ~... SQ9Q1
3. TbI. Sclald. " 11IbJICt to tb. folltlwlaa ~d.lMIllnu: .
-
-
SECTlON n TO SCBlDlJU NO. 01..00006
'\17~
T01Il?Mcipa1~ , ~~ 'L~
Total Int&flllt' . 1'1lttt7J ,e>~
Tota1 Pa)lmr:ntl: , _;7DJ!iO:otI
Wcmtbly p~ J)tte: fl~_
Paym- Sch8dt.lle
Speolal matN:tiODl .
~~
See At\lche4 Addc4um A
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--=
LBSSoa:
TEX'I'lWN PINANC1AL CORPORA nON
UlSBBI:
em OP A'UOUBTA, OROl-OlA
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Title: "L Documentation Manuer
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Namo:~~~C)V~ =
Title: ~. .
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, .r. apt Ecu~1IftI L.IUI"~ C........,
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Sent By: AUGUSTA FLEET MANAGEMENT;
7068211899i
Jan-4-Q5 10:08AMi
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Page 2/2
frederick LRussell, In
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,inistrator
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M, r., R!' n,'c, I'Owd.n
Pleet nager
1Q68 road Street ii
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Augu tar rJA 30004 i
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! The Augusta-Richmond CountyCommin, at their regular meetin~ held Tuesday, December 21, 2004
took ,CtlOI'I on the folloW!ng Itoms..: I: '
33. I Approved the ~CQul61tion of On~ (1) Fa Expedition for the AuguililaiReglonal AIrport Fire Department for
$27,387,00, from Bobby JOMS Ford of A uita, G~ia. (lowest blcllpaCkege for aid 04-115). (Approved
by Finance ect"ittH Deeerr!ber 13. 2 ) ,i ,
Approved tho atCqul$iliollOf a 24~onth G If cart Ltue for the Rec~e~oh Department - Augusta Municipal
Golf Col,ll'$(;! Oi~i$ion from E-Z-Go Corpo lion of Augusta. Georgia f4r $13,920.00 (lowest bid offer on Bid
04-147). (APP4ved by Finance Committe Dealmber 13,2004) ii.
Approved the 4lcqul<lon of One (1) ble Organic Screener for ~e'F'Ubllc Works Department - Solid
I Wa$te DivilSion:frgm, Erin ~il'lil So\u of Portland, Maine for $1 ,7.130.00 (Ioweat bid offer on Bid
I 04-14~). (ApP,Ved by Finance ~mmltte December 13,2004) , ! .
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M. Appro\led the ~qul6Jtionof On~(1) Po ble Waste Rec-t'c1er forttPublic Works Departmtlnt - SoUd
WesteOlvlslon!from,P1CMGir:Maqhlnsry mpany of GainNViII.,GlIO~ifl.for$400,a27.00 (lowest bid on Bid
i 0+1....). (ApPrqV6d by FIMnce Oomm December 13.2004) .::
62. I Approv~ ~ ~cqUliltlon of Thr.(3) pact Pickup Trucks for ~iUII,litililS Department- Admlnlstr<Jon
IDlvieien for $17,765.2SeaC+;,ftoitlBObby ()~l5 Ford ofAugusta,G role (lowest bid paokage tor Bid 04-
I- 1~()) (No ~mmendatlonfro~ Finance mmlttee December 13, 1;(4) ,
: If you have af'l~ ql.lestlon$; p!ee$$ contact I,
Yours ttl.lly, Ii,
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.A_rick L. RJW .
Interim AdmjnJ6~lor
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: TilmekaA11eb;llit2rim 0 Aamlnlstntor
lRoMrt'leYerett, (t\t2rim 0 pUTJ Adminisaator
Room 80.1 . Municipal Buildll\!f
BO Greene Sb'eet- AUGUSTA, GA. 30911
(70') 821.2400 - fAX (JOii) 821-1819
WINW.augusmg..gov
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CC: I. Mr. David Pers~ud
I ,Ms.Donna.V\f1lllam&
' Mr. Wlltls eos~
I Mr. .Tom Seck. i
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