Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Res 58-11
INDEX TO LEGAL DOCUMENI'S BANK-QUALIFIED NON - ESCROW Master Lease Agreement, Lease No. 02649, dated May 20, 2004; ON FILE Exhibit A - Equipment Schedule No. 03; Acceptance Certificate; Payment Schedule; Exhibit B -1 - Tax Agreement and Arbitrage Certificate; Exhibit C - Resolution of Governing Body; Exhibit U - Incumbency Certificate; Exhibit E - Opinion of Counsel; Exhibit F — Omitted Intentionally; Exhibit G -1 Confirmation of Outside Insurance.; Exhibit G -2 Questionnaire for Self- Insurance to Lease and Addendum; Form 8038 -G. 12/1120.1 H3Q.xesc.n0arev.sro0toic r -:.QTM%J-r1D T .4ZT'f.V A'R MAST ..-: ER LEASE AfGRA"ME, NT ' -I=, ASE UMBER.02649 -and entered jnto%Y*alid 414 -Lr Ius MKMP.. ASE $UT+'ttp.0 Sf LEASJN G and CITY OF)YELRAY IRtACOV FL a". In s diiabo.0 4thc ftkittil to . 6itii iit the parties hi tefo agrt e'as follows: • ARildl T. kkr Acceptahce, C iddlii "AUct cbeadle-c fil* kAS161116 eW, cale .. means duliveryiii;stilMou and 9 III 'MCI' means IbufMaster' Ukie Agf*eeinent and'all Eolptnefti I to al L &ieriije we -Men ge a fteiiii 6f Vrdpefljr d6chwain UiPii1dit s riteans each Equiprtierit grad] Equipikof in -F*Ip,6oiit chddtik. fbrup schedule ixiWa6dby t�ig6f gdlziiei�-Witff Idigtdwith "the Escrbi4 ..Escrow Kj Itt. A agenuuM&Ihiescrow Agti-inidtif.. CrOWA lr�' 7 giftmehf'.6 Ih&'Eki6�4 A -�ubgtmti y m, fotm of 'ExIAbit F Uriw, i a& ' ;' liesseeaiid�tttr+• 1scroviA�cniupoirth8 "fiistfuridiri�ofati• to `- ow desdri _Iidn di.TsGai e rind Df 1,es. efi if prom, J see* r e •Purc Hise pnce;o the re la qWzbent -Oroup'6r,-i 6fd &sb�beg iii -;t4� is - f ptovid ..:-!jnt6reW�ih66it6porU6ftd aRer, -Nyrhent, esigna:Wdasanddi ia,inaPayrwentS6661 vac puen Sbiicdulo'itlatiiig-th6icto,-.i;Mai •fogctlier s6alr: gh s Sep a"m t e c 6titractbetween Lt"s W and Lessee relating to such Equipmed6roup. t, atememit;Va 'respectloeacfi' i�ikll-kddlk-sodesignai tespect. to each E ui inept Gry the: eridd'dsiiitl 'Which "?bo related Lease is in' effeot'a�5 s eeifea m Section:" 6:icd re1 09 6y or -con, emnation awards paid with -re tiny quilirdont'retriaming" e P yfixnf -die col Wtiok e f. -therefi bmof-all &penseginobtfed ifi. t� mo p r-.6,-pniitioV iiiiiiiig'6i Iliil,6W.6f adgeb-,, Las I appll vem See 6 goveming fIff" eimm,ty`fibm-, Wucsi6d "o b tding-itsop&fd'm'gimd/orcaj *Rppop iat6 nimiqformy Fiscal Year giaciiht fbr*th6 cuanued p rfofiriancc by Ixssoi ffal' secpp ti`ai�bid666eor tesolutidn cificany pr6bibifmg wsbe .0 obfi6fions und& this 'evidenced-by iM passage = iforiniii "its obli atibns'iiiidcr`ttiis ' ent "with.res' ect'tt3 t " '•'rnt:rit ..inid ;. ibin -usin =rn "' iori ' s.to'-pa`an� -RentO Pe fi g P YtP g. Y eY p Y y : yyet •• KK -tom - ..., . > -• ... - .'•ty�aNnnnfc ir.ii�iY�i'rro-i•ft�ic Am•nPMPr�t Tf5P9 (tPCf Af151S'PlI:NIC(`SIt vi , Aflft 4n CIfhC7.niv.nt Flci hi YPOIC • ^:•.••::: -. - •• _ -. ... . ' Payrtieet Bate" means h da iipon•virbich -` -RoicalP*heti't is due ind pajiAlans prowidedd in g l�ayiiteiit Sehe�ule;': - e "' "the' ehdiiule`�� Reiitai• �a • • e i 'ed • °i ' `e . 5chcda e;••- - ' • Peyizieni Scliedui irieatts s of. P yrx, t t§ -attach tri °ati •Z3qu pin Rt l - . ;; "Priiteipat" rnearis cite poart►oti.of say' Ttcntal Payment designated ds•and•compnsuig pniicipal•as provided iii a Payiikfi Seri dwe:�: !')�rcpa}nrierit`Price "'means ilie bbiodmt so desiaririted'iind set forth -oppa"sife'a Payrrretitl�ate'in a Payment cuchetTiile ` caymL, the aririoufit for which Lessee may purchase the`felated Egiripntent Group as "of Stich Pdriv f•Date after rriakiiig #he'Rental 1Iaymenf r3rze'on sircll,:: •;: ;: .'. ' Refital -Pa heffi means each' ,a 'at dd' frofn l e ie to Lessor dh a S 'irientDatb: n P Y� Y, " ' i r "iir ,tb " bidis. p -6 ficattoiis'end/o'::...'c}ias' : `t o 1►ic e'e a 'or etedan ui taentfroiii `. efiilot'': Spec Ccapons earls sp r pur a oirlerpiu5an 1 w h Tess s d y $q p V ., taf mm is •tioiiitttonw 'iYt hick "ss t °iris" "Y'. S e earls to br I.e ee s st tciJ.. ,• • .. !'Vendor ";rtieans -each of'iht Pzietiiifaoiirrcts ` or veudsirs from .which Lessee;has.o lered'ar with ;vrhich •Le §see lies -roiitracfe- %r -ttw. .-nmufacturd ,aelivery anr3l4 i&Wlaflbit'bf i id EgtiipmmC- . , . - Seriinii :'t_2_;'ti.ziiifsif4: , . • - _ , Exhibit A , Equipmcrit S�cEtedulaiiclUilitig foitti of t�cccptance Cerdfii ate and %ttii of Paytnerit SchBdule,: F.xl3ihitFt -1 ` : FotmofTaic` AgreeiYieft fiaArbifmge 'Certificate(NonEseinw): ,.P:x1,i(�lrf",51; _ Formof.) tesalu6attiifthe' G9i�emingBody 'Dfizsseeretating= to-eabti%�se '(Non - Escrow): '' _ . '::.Fxbihit D -Form of hlcuittboiiey Cet tifotite unto eatit ofl'icer 6r repeesettmtive afLessee executing this ilgreemeitt ctP atry Lciis "e...:' :' ' - Exhibit L:' Form of Oh ini6ri rif Tridependeut'Coiiti'sei t6 Lessee:. ;- fxhihif f7s' :•Uinititied Intentional) r" a� y�' F.xi,tttt .r_ i : .' Foin iiff.'bnfiiiii ittott of �drside Tn'btirance. ,Porth of Self Trtstirame and Aa dertdum'Co'FtjaipnierirSclicdule RetaNng to Self- irist>ranCc: _'AR17CL1EfY: „:LlEi1S>~ 0 jE iJiPIVI)'NT Q - ti fie - :.-% Qiti9 'n qr : ' P . T'tici iu ffi $ddition of an 44ffie� nit GriiuN L'e.Rse sliall.pravide L&Wr With- a desdription of'. the equirsiiierif'prop osed to be subject fo a i case�reretmder ;including the cost and dor of such equipntei the expected dbiivety'date and ;the *6i'ed ledse`terms for'stiali i'quilizYSiztt;' "and'sctch iitlter lnfomaatiori ;as'tlte Lessor'tnay require,. :`If I kOV, •itt -its'. sole -discretion; 7 i3etcimidesrtltb'priiposed eguipbetit'ray %subjectz rt' L ease he ttridei;'t casor sltgll fuiitisEi to Lessee's proposed'LViPhlent, thedule relating to'tiie Equipme6f'dm4 -for &xeclutl6dby Lessee ariltilde I essor,= =By ezccittign hei eof Lessor`kiss'rttade`iio' commithiciitt6lease ' any equipineiif to Lessee. Akthn 2:2_ - ,IrIkhnrcement:;Lessair s1 1t.}i %".= •obligiititiaa to•make'any dishdrsemeritto'aVendor or ieimbiuse %ssee'fot att y ont -aiade t:6 a. Vendor for an Equiplbt '0 6up (or','ifthe csorow procediiie desdf b M idSeclio'h 2.4 hereof i"' , filiae d, ctifistnt to a disbumemcnt Sy the'Fscioiv Ag6tit) until five (5) business days afar t, essor has t$Ceived ail d€ iltelbllinving iii foirii and sabstitiiee satisfebtoFy to 7 essot` • = (a) a completed . Equipmett Sc&i{tile'exeeutetC by tes see'; {b) ab Acceptance erti caie iri ' the `for'm"induded with Eiihibii A •beretd;" (c) a -: ,• resalddon or:ev'idence of other official:acticifi #aken by ar iitt bdmlf of th&I.essec td'tttxthisriic the scquisitidn of the'Egtsipment{'iroup ari the :: tdifris )iieavided -iu such date'in the -form of Exlnbif B}1 (as' applic6lti) _ti{icheil:liereto; "(e) evidence of irlsae vvith`tespeCt t6 the Equiptrient Gtnii}i :iri cofnpliancc tvith'Article :Vil of this'i4greepiert; (fj' ; ' :'.`.:' :': :Vendor'iiTVoice(S)' aitd,'or bill(s)"'of sale rclafirig .ta'tite Equipment GrAtr(S;',"aiid:if'sac Invoices ° fish beetf paid by I es5ee; evidence bf payment ieef ff tbure'sucto t itYi paynieitfi' : iegiiircd by the'Codd,,- ,U)'fln*iding statements executed ' Lessee as:dbbtor and/or th brlgi'ri'al';cettificafe of'tidd or tuaniif tt&of's`6ei cate'tti:orIgiu eiiid :title applit atioa, .if any,:fcir any'Equipiment' which W1*' nofsuclt'£+git3;iinent f3m'op end is subject to &fflficate of tiilelavvs;`(h).a donGpletcd'and cxocntcd'Farm- 8438-G „or 803&OC;aS •' applicable; :or'evidence of filing d�eredf witki- ;h6,SddO4ry 0iTreasitrp;'(r� aiiopinioti'oi counsel to the Les'yee Substantially m thb fotW) -of •Lxhibit-E heieto'•acrd ef'd itiettts dr ireins reasonibly'regitired by T es'sor, t1tU , ;_ j..ac :r - Pnvrte�i inrt antl'i is ; :1essbr hereby leases the Egitipmeiti to Eessee;'anti .Lesser hereby ledges "@te EquilStcfent From ?::: • :Lessor ; -:uObh the-tenns and conditions ;set forth "liefcitt::'d:es5ce shall'have'gtiidt iise rind onjoynatut of and peaceably have snd hold .:.Egtrilttiient -Givup &ringtherelatw.t; eke yji�j,�kt 6ptU expressly set forth in•this'Agree beryt.;:. , ;ce tioiri 2:44; .�- rdvr <E`t�if'i` 5i ' '.Tf Lessor amid tie sm Wa-that the cost of-atiEgiiiptnent Group is td bd Tidid lit an Facr&i ~Accorarit ` ', (a) Lessor rid Lessee shat] execute aii:Escrovi+ Agieeifieitt''substantisily ate the 'kiii'of FxWbh -F; (b) Lessor'aiid LCSsde `slfall eiika a an :Egtfilfrnetit Scl,'edule relatingrt6 sit h ;Irquipmenrls mV; and. (c) bessor•strall- ,*bait a idhount equal ko'tlid •cost bi th'c Equipoaa<nt'Gtoap': ' 'by'i essor iii#o the'Escidw Aisdbaitt:siiall eonslitttte a loan from nto'teEsciw Accotmt : All• amoiiritt depae Lessor fii Lessee iv}i'ich ` shalt be repaid by the Rental• Payments diie under the i elated L ease: Snarioui:FL-icy: tOCCkW.oiroaca r' >li ::termination under Secfion'.i2.2; »rn : Lcia�sitr,.n6 Lquipziicnt Schedula "shall be executed a'fkt m'ny Non.= Apprbpriat<oa of Evdnt'of ::." i?efault Each ixase auith respect'to an•�) 4Wpment Grottjr stall be in effect for a Lease'Ternt conunt hCing upon the'Lbase'Dme`and ending': ' �asprovide<linSectioii'3`2,: .. _ .. .. •. ••• . „rs.� z_i_'_ T =:, •••cMjgtin� j� - i�„a,; :: $e sole 'event.afNox�illSpropriation; fhis'A r t t t aria c eb Lease he'reuddei shall fecitlinatc in whole.;•iitit'iibt id part, -as to all Equiprrictit efleeEive iipoft'tlie Iasi -day W.the fiscal .Year -for which funds were'approptiattdiia ihe-mannet and subjecttothe terms specified in:tbis Article.':>ressee may effeci such•t6rniinatidri.iiy giving Lessor a writteffriotice•of to bination'anil by ,;payiti io Lessor ;any •Rental Payrneids'aud tiflier amounts which diie-and have riot been paid at "or,before-the fetid of its then ctrrrettt :Piscal•Ycaf.':Lessee shall endeavor fn give riotioe ti£ such•termination fiot le§s than ninety (901 days piiorto the etid•ditheFiscal Yeat'fOf vaM appropriations verb, made; atiii shall riatify ssar 6f :any anticipafed tetitSination:: la the'event of teiti]tnaticin of this'AgtE niehY'as jtrowidcd in'this Seedoin; Lessee shall otiiiiply with fhe-lnstrucdons reer ived :frofri l..essor iii•stceordance wifffsedtion •12.3, :• _,::' ctti►►+ z ' Otte+ rs Ti +r irlafinfi:-AJPorii iiiiinatian`of this Agreement as'providea:in Section 3 2; i essee shall riot be'respsiiis ble`for • :`'..:::.= .r: the gtayattcitt'of any additional Rental• l aytheitts'cottting due in sttccetxiirig Fiseal Yeats; bU if.Lessee:l>ax•fmt �otrtplicd tirifh-the instiuctioiW ^. • ••received from 1:. CSSOriti 'sixdrdancc;wttii•,5cctioii i2,3, rho 'terltutlatum`sbaU'neWerthelt; §s Uc effective; btlf L�ee"shali }io t+esponsible'for fire ; ;::�' paytiie nt of damages in aCt ainount't gtral rk the' atiibfrtif of the Rental Payments'tiiat'viould tbeteatier have come ddi if this Agreeiri f -had :t►ot btsen'tertEtinated ariii•`6ebicfi are aitritittialild to.iiie nUitilier' of dtsSs atb rvihicii•Lt ssee failsio cooly iO Lessar's instntctioits:artd for .. :; arty' othei - loss' siifferedliyLtjssaf: e' s• nrestilttifT: cssee' sfai[ utc. tdtakesucliactionsasregisirexl .:�•' • i5e4�t!' iL� 4 a l`arriitii$6on •iniLl se'r�r„ ;.:The Leaso Term with respcottb'anyd..ease will teiannatei Upon` the occurrence of ttie -f sd,6fdte - folloiviiig r 4eitis'.(a) the- termiui bn of.tbisiAgt+eetneut by i essae in accofciatii a ix+ith`5ecfiofi 3:2;' (b) the payment of ilie Prepayment Price �}+ L esdee jsiusuartG;t6.Ariicie'V. 6)-O Evertf of Defaulrby Lcsstc and Lessor's ell ction'to'tefuliriate such Lease pufsiianfto Article ME :`r' :' `:'• ;:;, ;` (d) the paynieittlry'l essee of all'l a tihaCPayaiettts diid all btiier amounts authorized or i6quir0d io bo paid by Lessee pursuant to such Lease:.':::.:: _•-' .:Alt'Tl:CL1��V.• :� T "' :ertinn •a_t _'`itpntai A eniB Lessor and T essee Caiifiriri their' Yindersth odiri and it relent fhiit: a all ay intents due iiticicr'the' Agreement are to be made only'frat�i:- e5§ee�s' legally 'abailable•and•appriipiiewd revenues-from soiiibes'eithei ` thtin'id valdr6M1 ;-ar ; s�ther taxes, {b) that Lessee shall not be'olih$afed to pay any sums due iindet the Agreeinent frrim the proceeds of id val6rerii or other = taxes; :and (c )'that Lessee "s'cantiac'tual obligaiicins'to regiiest Am6d'approlmations from whit h'payments duc uriddi the AgrCement :'.:: •" _ y bt; made ;doed-not cMsutute '-Rii- ind'elstedttess';oi_ Lessee within tltc' ne?ni »g of aily'cbnstitiTtional'or siahttory provision or .. Limitatioii;::The Lesseeagrees td pay�lie ReitaC.P'a}�tiiiitts ifiue as specified in tlie'Paymen �-t StbcduLe in EXliibit A; :� portion of each Mental Payment:is paid as interest as 5peci -ed'in ti: rTayiiiiait Scliedule'of eacli ]ease;:apd:tiie'firs ' t 13enrtI I'aymetit wi33 irialude Fnieicst accruing:.;.: ':inding: Dat. %Les §or utbhid #o ldr ie'd'date df R 'Exhibit A.• ill ••' fion'tho e ;Rental t'ayttic»ts shall be'pald to'I:e"4f, %& to °swi t&iguee(s) LcssWlias assigfied'as'Stiptilat: d in Afficle X1;'at'sueh places as Lessor br .: '.such assignees) stray frnm'time tb`iftiio desigftW by wtitteri notice 16- see:: Leis 31ia11•pay the-Rental Payments= -law&tl iiiondy bf , the i hMd St #Tes of America irorti xizifneys 'l6gally'available'tberefor. fi*�Knn d... i rant f e bligaticins'of Lessee, :inclti g its'otiIigaiiisti'bo'pay' the Rental T'ayments dtid "iti 4y- Fiscal Year isf a'' Lease Term,-shall constitute a cuir>rnf *e&e of essee for suchfiscal Year atid'shail riot'donstitute'an.indebtcdncss fif Ltixsec•within the -meaning bf the Cot'istittition 9nd'4*rvof did 'State:.Nothing•Here n4ball:b:'=' itrite- i jileifige•bylesseb-of any tax`eaor'other ibbneys (other ' '.than tnoneys'iawfuNy �ppropriated�froin 'tiiiie ".to•:iiriie 6y'or�foi?' rite• b' ene5f: of :%ssce'foi"ihi's'Agt�tieirient and the =Net Proceeds`bf #He :• yuipi tit) to tfire payment of itiiy ten al)Yeyiiieiit bi aiher aniwrtt coming"dticltei . ' :: 7 be:Lessee's obli anon ' niake;Rental Pa' meats sltall'be absoitTte atiii tErictnHitiBnal: ; ..:: ` . _,' �:�Rt �t �ilTiljiHAt>bt Rettfiil�;l+�vrnenta.;: g �o Y Also, any otherpayinents regtiiied'liereiiiidetihall lse-absoluw artd riaeoriitifiorigl :'%essee:shall make these payrnentsNxhen due and shaft not :withhold tiny bf these•payhietits *ctitig :lin4iefiolirtion'of any disputes: hT Lnsset: shalt not assert any right of sit. iyfl or'eofabitlaitts',: ii nst'.its Dolt oti #cf make these lressee's obli on to make iteirtal P trietits'iir othef ebts shall'not be abated throu r' • acciderik uioreseen :citeuYtsa:fne .b rh ' inent -to perform ;tts desired, :damage br desttuaron •to -tha "F,i�iiptnent, los "s'of •:�. - :passessiaii'of the Equipineni at btiao( aence of rite Equip at.- The Usiei: all be obligateo to-tontiriue to mak6"payrimnts required of it this Agr6c6itat if title•fd;•ot teritpb'rafy Uk* tit the Equipment tit any part thiKeof shall betaken udder exercise of the power of eminent : alrzoN To PiLPA X j>_hCry f e5see slial(have'the tipbdn'td ptt pay its obligations tu►der any I ease'iti whole lint no[ in part' on any , - S�itinn :_ii'. •a tin t'n'RrP Payment Date for the thou applicablePrcpayhtent 'i'rice' {vvhich'shalt include 6repayinenflee) as act forth ib tlic relaWPayment ebeddle;'.'; ;provided tiiei•e A ati6n'df veht ofDeatlt 7 p - ,' "Hnn:!is -t ierri�P .iF tT ;i;nu; Lessee stiall;f;i4e tY6tice to' Lessor of itroilariti& to-cxeicisd its optiC�ti'aoi'less t3iati thirty( days irior . `..to the Payriient Date -6th whicWtiie aptioii:wil•1'tie exe oiled iid'sball pey'tt5 Lessia`tibt lafer than Stich l?'ayrtietii Date' an amoittit'egGal �to ail :. -'`.ltOW Pitymeti &`atid'ani yy' other iiinoititts'thetiClne •or past due iiiii3er tkfe'reliited :L'e'ase (imchtding the Rental Paymenf due'vtt the PtiyrriettG : : i)atc oti which;the optioi5 shall be 'ei%c]ive }'aird't3tE'appiieable Piepaytiiciif i'n oe'setforth •in 1}ie related Paymehf Scitetlt %• In`iiie event roar ' ;•: Sant ]iibit�:ud- eaalOCrresraoasf� • . r .q :. • ..' ' . :'� . • `r .. ..all scich aitsoisnts ate itat'recetvddby'L6ssor on subH :i'ayriientDatc; stic}i iiofice lryLessee dfezei else of'sltail be void'i d.the-re lafed'I shdll cottfurueiri full'foine-md effect: Lease vtth rt"'speEt to sash Egi»ptnent f'irotip stiaU tetiitinate'and Lssee•sfil( eaite ei[titled to ucl gijtaet Group -AS IS; wFBtE a :is, w"OUT wARRAN 11ES; X1'1 55 ()It" IiViPLLED ;INCI:UIaiNG R�ARRANTIES OF MER.CHANiAMi'1'Y OR, TITNESS `'FOR'ANY•1;Ak tCOI,AR'l?URPOSEOR�: FIBN E5S`.FOR:THE•L)Sb°'GONTEMPtATED EY'1.ESS'EE;•.except'that Stich Equipment .Group sha11 riot be stibjcct f4 arty Flea or eiicttniliiaiice created by or'aiisirig titrbugti i(ir.' :::: ARTiCU"VI.- -121 RE6ENl` ATIi? .WARl2A- NTIE9A*ls&COVEri1ANTS': fiect3ain fi.7 _ Ytpiti e�entxfiDug �n� Dtra.: is ritas SSi sr. '.i essee'rcprese►its and tvsrtarits as of the Agt eeiiiant Dare and as of each %case :.: ]7ateas follows: .,(a); : LeSseeisiistate=ot`politiCa{ i the iibiiivisian6f ` {lie'SiatevvitfutYiiie l'• . • • - ng of'Seciian °1.43 {cj of the �odc drily organized and existing :: , , :,: �' :'.��:,'� :under 41ie Constitution and laws of]die Stdte,'•aQ k anthorized'irrtdt i'the-Cotisti8tflon.and'laws of the State to'entcilnto this - Agreetitent, each T east and: rite" tratisaetiiin 's:ct6iitCiiipla#ecl here)iy artd thereby; atid•ts '- -*rfmin"all of its -obligations untla1his-A etnertt and each Lxasc: r" (b): • `.;,The, ezecutiari• aittt' clelnpTy -0f this Agreement anii'eai h I ease Have been' iiitt adiliorized Will access' 'action:" Y . Y ary of i es'see s govemirig Body atiil`sucFi action is ra.e6inpTiani e w ith all pttblio bidding afid 'other Stabs and federal larrrs applidable'to this Agieeirtent; :each ` `;.. "I-se and the'acquisition'andfi ai 4rtk6 >✓quigrcjentby (c) ' : ;Tills Agreement have . eetf duly -cxecute3 aril delivered by and ciinst uifies the valid and litiiding obligation `of • lessee;' cliff orceabieagaitistT: essi✓ eridhcc6iilancert�th�flieirtcsji @ctiveterttts:• .. ' (d) .. ''; Thd 67tecitfion 'delii; ery slid perfoniiafiCe'tif this i4gceement and' h'Lcase b +lessee stiall'not'(i)'violate atiy State'or federal'law local la'w`or oiiiitianw or any oi`d dr, wiit,•injtiticfion; decree, ar r6girtatiori cif auy aoiiit'ot�otitergovtmmentai agency or .. •; body applicable`to Lessee; or (ii)'COnflict'Witli or r esiilf iii the breach or violation of airy term ¢rprbvision of, or constitute a •defad(t udder, ally ' note, bond; trios tgage; indenture; agreemall; deed of ttiict,:leasa'or other abtigation:t6 which Lessee is boturd.:. -•", .::• : • .. • :: :.- ;::::) :.'(e) ' •. ' ete'is i10 action; sirit,:pr5ceeding; Clairii inquiry br uiviAtgafictis,:at lWO–r m egWty,'befbra orby a6y coiiit;'regulaior3 agency,'- ,: , publiobiiaEil'oi'tiodypetidirtg or;lo`ilie'best ofLessee's knowledge;tltreateined tigair`rst or a##'ectirig%s'see,:challetigng fes&ee's• •;guttiority �;:::- ':'�.:;� ' .to enter'into`tliiS Agroernetit or`$ity Lba§CWany Ether Mtton Wheririti-an"ttn�avara6le rulingof finduigwoulil adversely "::tiffecLtlie" :'; enforceabilOof'this-Agi eembiit of, -L: (t) No lease ,'leatal:'agieeirieiit, :3case piiEcltase •ag ent,:payrneirt gcecitt °rit nr cobhtict for' rchase'to'�vtucti' . . pu I.essi�e has bt en: al' party' 'f aYry-iinie.6iing the past- tet�.(It?)'years fins been Ymivated.by•I.essitie'h`s.a" i sti tbf instiffici6i5t funds- being'apprgprlsletl it arty Fiscal'Yeaf, Rio cvettt has declare$ Vvliich wbtiid t arisiitsie art t vt itf t:f ziefavlt urrilei any debt, tt vettuc biinti or obligatiott'which'i i ssee . ; "has ics►Ced tlttiing'llie}5ast ten�(]i?)�y�eaits: • • .. : . (g) :' I esscc or Lessee`s'govi titiin bbd' ~lfas risted' and%r' aken '' ` R Y prof atfier 7awiiil `rir~tidns tiecessaty to prdvide riab*s st6kient'to pay alI Retrial Pagi►ienTs'during lire dttrrerit'Eiscal I'eai; and Stich moneys will lie app}ied id ISaymeittof ail Rental Payriicnts dtte and payable :. !; durigg°sudh cu#tnti Fiscal Year ;Iesseeli{,sanimrnet�iateaeed. for;.: anil'expecis "tatngltciirutiedia it&o�:tlte-E upmen uilticltnee istibEletn'o q fi p rary- oi•:ez ienfad `•' , :• : ; ; :" to diminish' dtiiiitg tiie ajipliclb16 I use �'cnii :''Lessee pre9fttly intends to'coEit ape :kilt Lem'Itereunde'r'for its entire UM to pay•'. ` ': - pav all Rental Payments'relating ;tliefeto.' Sp_g tinn,F (i'� %p�8c of T.SRaPN' - ;I:es.�ec gees that so'lang.ms ally �it1al'•Pa�yirieiits oi'.n$ ter aiiiounts' Sue' utriter 'this'Agreeincirfreiiinin i :mod; ... -_ -�• _ .,:• ... a T.es •ce •s1Y •L) s all' ni >f�•itiistal :use''o•'erafe`.`'. oi�tnaititain�the�F. c) uipareitf :•tirptopeHy;•'carcle'ssty, -in' Vitilatlott �of.sii �•dpplicabte' lets' br '•• _ irgtttaiiori or in :a manner, caiittary ,:to_Qrat:oontetFsplated by this'Agteetheuty :I:essee strait obtain anti mairifxin' all pciitrits rirtil' licenses . ; . ;: . .. trecessary fdr'the instKllation' ai►d'operatiori df the £giriptt�oht `. l tssee shall ridgy avif}ioiat pridr written bonserrt df Less -affx or install :• .:'.:.' .:. any sccesi*',- 'tgtrip&:ent or'deviEe an atSy:6f ttie .Equipment if such addf6otT•avoiild:afiange or impair'tht: �frtig nally intenddd itiztions, ' :'value of use of Stich Rgiiipttieitt.•: - b ' Lessee' v' - sYt«tI . •.( ) ' rd ide L'esstft� ae P ccss at all i'eastiiiaiilc times bu ertaaiine atid�iatpeft :rho �Et�itipzrient afid ' `avide. i:esaor v+itltrstt'ch :'.::: _� • � i' �' �'; 1n access io`tire l;gaipiiienE as mtiy be reosot5ably' necessary to•'perfotrii rfiaintiAh a :fin 'the'EgWpinent in- the•event of failure by Leas w to . . ~perfot'rti'its�obiigritibtts ltereurider.' s . r` : , ' � • (c) ;i s 6'shall not directly pr:itLiiireCil• . Y, y,: create, incur,'assurne V suffer tti ;exist arty ddrtgage;.pledge, lien, eliargb; Chouiitlirance of otherclairii; tNit( iiespecr7ottie:$ gtiigirtetit;otherthan-tfidt*i� _tiveri- ofL6iirandi. essee- avb ercin'providdd.'•L.esseeshallPro PdY, at'its bW i "b'XpdAd Ake such actioas' S`on's lid sec dtil : l p • y sbs y to'dischitgc''or re�rntive dtiy snch'elauri if the same shall arise at arryiitric.: ; :' ' ,- I.e'ssee`sttail �i eirriiituSC Lessor #'o'r a ••" eicpetise'incimed by I:esstir iii order m c3iscbarge "o'r i'etnove tiny such "ciaitti:: •: (d) ..: ;The liecson ar'e>xtitq `ui, cliargc'vf preparing' I.tssec's budget will 3tichtda'iri `tire' budget trgiiest foracli Fiscal• Year'#he Reiita!' `Payments tviliecotYt6 iftie dtrritq; siich`l fiscal Fear• wind 1�111 use ail fensonable and lavefiii.i»eans'ttvailablc to 5ectiib rite ` appropriatioi ' mPaoynmeyenftosr'iss gh*oIrF�eirtntitti*.eYitetaal s .fSuni ctdoen*i =wftTou'c p r a l y ; as... eke e ciaiuiltr' Paytientsc6ming 'due,}crein'apeworm farRe. itog 6t wnwkttjly co m L sseeaelrnoiledge'hat f 63 AgreeaietiE Blocs' riot `cntistitiitb sui h: a;irommoitirient : io�vever, Lessee reasanabiy bilieve5 thrit fwfleys in aii'siriotutt ivf6cient to makC'all , . s�tazaot :Pi•sd:;�xitiwiraarrna;it' ' `. :$ - ... - . : - Wcntal:}'s",' enfs tali aod:v� ill lau-fiilt' lie' a ° in 'riated'aiid inade aiiailaliiFi fo' eixriit Lessee's catiflnr►ed`utilizatidn of the F' VW me#it'iit-'tlte ;•'.: ':`.:'.? ::: - ` Ym Y . PP„ P P �3 p " nerfutrtia'ncerif itS e4aential:funntions duriiie'tti6 k6nlieah7e Lrace Terihi_ : •' ::: - 'than the'Fgitipnieri an8 thatthe'Rdintal'I'aytneiifs WNTot be directly or 9it8ii t1}+'secor6 by of didVed'frofh atiyp$yments of any IYO tit any ftintt�odief thadlzssee's geneial piiilitise fund -acrd tivrt:lhe Rental Paymentsvaitl nothe'direcfly or indired'tly sedutbd'by`df'derived frotiS '• ` :'::i any -OmLt dfaity type other tliari front`tlie l; essee 's'legally'availgble'nciu >ad ve(orenY revenues.:: ?(lpori Lessdx's rcic)iust; Lessee shall.)iroiyde'i essdr Nvitlr curri;nt An ' statements; buiigets; and Proof bf apptapci9ti6ry'#or'ttic'.. -` .: : • :.' ensuing *j9 -dal Year'iind4Uhh other fiff6cial .itlfoiriiati6n'relating to tlae ability bfl:essee to continue this'Agreement and "be reasonably requested liy Ixssirr: :.. (g) lkssoe shall prowiptlyimd duly vi'— teuiid ;de1ivei to`X essot such fuillier dacuinenss; instruments'atid assuiarices nad'take'suctl',',';'. `,' , •. : ;furtlter actiofi :5s'Lessor tiiay':frbrn time -ta time :reasonably requesC;in order to'tatty clue the :iatrait •at#d.purpose of dus Agreement and :establish and - protect tho rights sedzeriaeilie's ditki ci'cif intonded to by deatbd "J' 'fa6 ' of Lefssor herouriddr.': • • .' N..4tin st t'Vsirrgrili ¢gnu• veriantC, ` ; lily -' (a) :Irzcorpordfivrt'of at medt afid i4rbiridge CertiJtcate. - is of bacti I Se Date affil vVith "reaped eachZease' Lessee' nia`kes .•' eacli'ofthe' representations , -watrau&As id �;ovetiriiifkC'6nti ifidd in the Tait Agteemeitt and'Arbitrage Certific%Wdeli OW with`.:;::respecf •. ,..w such 'Lease: :By this'iti fetende-'6 ii h'siuli'Taiz Agreement anti Arbitrage Cettificafe s'ida&porated irr and made'a'paft bf:titis Agbetnent ;', ;''•:: -:- ;'(b) ' : :Ever:t wf �clzcrbJfity: ;:IFLdssor'eithdr= (i);rbceives notice; iri afiy forrri^ "from the In #emal Revedue'5etvies :or'it ?"reasonably' ' ' :' •.ilcterniiries; bitsedvn an vpiniori of independenttax c.�itiusel •seiecteci:byt Lessor; that Lessor iiray not exclude'atiy'Itiferest paid'rmde:rany ; -; =:, . -Lease i its 'Federal'.gross incum ((.-th at5'SV66FTaaability "), the T caste shall pay do Lessor ►ipoa'demand(x) a i4wi oiiiit�rhiah; with:::: respect Rcnral:Paytiieuts pGri vit5ti'sly paid 4nd'tiildng:mio- acwkmt,all penaltie8;.•ftt &; •d#terest and addifidm io tax'(inCliidirig °all'fedeial;';.'•:; state acid liicdi taxes rnse d to Lessorits'aftif t yied (nsuning•t6(at1% d ., :bighestiiib4nal taxrate and` taldugii )16'ksouxtt`th:ctimeaiiccei .• bf ;lteiUfY ents and teinvesttnent at theaettax yield rate ap' ' fbt; transaction evidenced ' by' twhIeak'fhi neigh l}re ciatc''iif -Wth viretit'and (y)'as'additi"l Rental. Payments to Lessor oti each succetsdirig t Payrhent Date such amount r r li�tc. v>! �•:r�svz�rl� a iiI r�:a� Loss'� and Prn 'e nrarrrb . ` ssEi_ its; %iltt'lity }��:Tns :'Lessee s}iatl, aCits own expense, )itdciiire'rifidmtint'a'in coiittnuotielyt'in effect flaring cacti ;• Lease Term: (a) p.Aw liability insurance for deafK'df'iDIUMS' bopttsotis,:or dattiagc to pr6l5crty arising out•ef or in' any'ivay eoiitf icted.in' - = : the:134A Ent sttfUdient to pt#rtect I:essar:aadlar assigns from 'liability iflIAit ,events; with •a covetiige of hot' less' titan' Sr o00,00ti per ' �' . ocdiirietrce riiiless'sprxified tiiffererrily rt. file related Etluipinent Schcdule,•:and -(ti) "insuzairt d' against'such hazards as Lessor Wray require, .. •' including; liiittiot'tirnited to alt- risk'easualty snd•Oaperty insaafi* m an agrutint'egtial to tho greater° of the full xeplacciiient cost of the • r '., :l�ilitiprneiit b'r'the applicatilrr lrrtpayirieiit Price df each'E ui bt�t - :SCCiinit 7 ;.]Ytixicetrat tttn�t tt�aftnn`irici► ;;; :I'trequited by Mate lave •L" i 6 serail carry workers' cxympensat(oit insurance caveruig' :all employees .6n, id near or-about Jfie:.tVApmei,f,� and upon - re#est,';sltall Ai ish Id LeAbr- 'c`ertificates evidending such"OftaA, • �iiuoirgho�ttheLea§e'Texm .. ' �Certien7:4-ineiirgnrn' �dir4i:efiieiitx:• (a) IrtsManire' i?ullcles r :'All:instuarice'piiticed cegiiired ley this Articlo sl5a[t lie fallen oiit slid iriaintaineil' i#h itisur`atice;' c6iripaiiies' acxeptatile i6 T c�sor'atitl shalt ixyixiaiti a rim 4isian Ali t thirty `(30j daj%s prior fir ally ;� ang in the covemge the 1uistit eC must pros ide t ripen `native totheitidvtcd` parties.:34ojndijfafice` shall be` subjecttoairyco"iesurad-ceclause • Each' insurance policy shall • name Lessortia8/orits'' assigns'as fiii:additiorfai insured paity:atY3 loss payee g saidtes§ of liny'breseh :of.wiif titji or'otber act or o"ssioh-of Less6•and shaU :* , ,. _ -: ••include' i:lender's foss payable eitdorseiiietif ioi tfie benefit'of Lessor ai�iUar is'iis' sign's: :: Prior to tfie•delivery bf Equiliment,:Lessec s15aH. °::: •: °';:. ` : - 'dcposit:Witii -1 essor evideacd saiisfactbry;to Lessor d oh'•i&utance-and;•priof tb the-expiratioii ttieieot shall .ptnvide'Leswr evidenbb of ` all rencvralst�replacements thereof. -(b) , Seflartmmece W - qseirisuraricebp, ,e y i. Egpimn `deu' 'fptidsei as ldc i rritiiritairied for thatpa#pose'whicli-snustbo f Mydeschbed iri aletj;6 1. iivccetl'to° or•in form •sues ble to Lessor. •- ;(c) :::Eviderfce'dj Iruurarrce: ;'Lessee sliult- tietivfx to Lessor upon &icc�pCtce of ,airy Equipirietit evidence' of insuiattce which'eomplies with :}Yiis:tltiticle' VII'uDith r�espectlo:sticii quipifietit 'to•tbe•satislacti&.xsfI: for;: inal udiirg,- witho #it'litivfsfion;:the•eoifirmnfi n-.0f' _ i eeo'tgihtr with Ce ifcaeq Invraehn'vailabe, rtQietornuefaisiike dif-, ., insrtr td'iri Addendmn-ta' Equip"md n' *S* i' liife'ftcluting to Self- die el KI I M tt permitted,by applWbld`laav3s:of the State; as bet'we eii Liesgor -nd Lessee, Lasee assumes ail'nsks ;arid - likiouties from any =1 ise whatsoever; .ivhetlier ni not t dvcred by iadiant e; f6i lots 6rdamage to any Equipment and fdi•in,}ufy •bo -or death of anyperson'or dimage'th- t+ny`prbper#y:::VJt Iher or not Wil. by'itist'arariee; Lessee hereby assumes resp68sibility for 8nd agrtts' :to indeinttify i.essor from all :3iaiiilities.obfigatioris;' fosses, iiatbages, •p iSsltic3;: ciaims,'actions, costs and expenses ;. including teasohable aizbrrieys' fees, iufptiseitl on; ti ~_-_ Atl�nce of the Datpagd Ce oblig .f�vlacm�eiit d' lis 69 or- tax substitoid and Wi Cliff OW eSSQ r t'�I er• {$ en. I tn� ��je �" 3in,_ _� . y ` asp o c D it, d,e sAecr iy Z ?1ia V- �prr,�t uiai2e�°I�e thir airk niaceure � - - '4tijpy p use Ct _ it rte. �Zg AZ�or � � _, _• _ .�la�� * �� � �•��i�ti � �f � .�. • . ._ ''a =+}1 Cl in IL I t5 czi sessea cF t� np Ciie -4t t = - _ = �' a s _rte ;sue �-z e�r i�%�$ 34��.ci . : !�der'rs c t� ti'�t Sty, ncc �r�t; ` _ s, _ +' ssj Via` 406e •���- _ . _. = _--,_ _ � � � �� • -� � � ��i =� of ��► r., � . ta V#ft �s�.�` =sir , ���� _� •t, �ct �� o��e Vs-���7 -�`� vzqtt , � alt i 4�;� _ ?io SSOr ith � �' aa��� � • _, tom..+ .� Atit Iowa �, a ' r ' igatioil -bbl w6fifori6d .. ~ 'OR MPECT TO THE � ' / WrM —' / ' Ak^ ' - iiiin and rest" ftixxev "hmuff nb 'd of fif! iktA ' gteembnt nor T. (c) fauure-tciphfotm6rabideliy�khy6ofiditLoN:;igt'e*e'nie'nt;or'*66vbni�t'for-,: -0 Iftihe prior wits expLratian.-,.-,- � . | / fo"' and Whivii'are-fiertby a&eW to be the Prepaynient Price applicable -10 poci Lesgtfi �shull !Llso havd-the cvont"of default to exercise -py 6ther right, -remedy or .y pppropri '. ' ~ _rb_h ` p---,—_____r,'_-'__''—'_—_'— _ all . -Con� tat kertinm .1 2A 'With jri*eetfo�W / ^~=" . � _. he ' ,ornmw / ' , _ ' — . � i'^ ~ Rental —'~---' ------- ! | — ' / Si+r p;.`12.at =.iei g g¢: 'Lessor sli$ll Irave'ttie7ighE td ftxjtliie-late payinerif cbarge foF each Rental or any 'o er an unf siu 7i r uncle . _ .. .. , __ ��_�._: ,n �� -._ rr i� -. a_._ _.:i _`_a;- --._mot �_.L- �- --� sEui"_ 2._ La.:.:. •....._....:x;...',1.;di'.....1 .«.....«.......•'i't.•::: i�K•.ti:.:: :.. .., _. tki : ICU lif •iViXSCit T.AiVEdtjS i lk6vfsiblV y ' : 'oti ev' ' A4 writlefi Yiotiees to`tie gm frunder this A gt eeirient §ball lie given ry tnai] %the pi+tty eiitifled theteio &tits address , ? specified beueath e7c s s afore ar at•such address as the ma.. `rovide i0ife other parties hereto in writingTwift-tidie'fo'tiine.. :.. I��y . �• y P �. • Anyitinli riotice-siiall -be'dediiieil3ohave ticeti`redeiv«f 72 bouts after deposit iii •.ttie United. States mail in rejistdiia'or coMfied fomti; with pb'stl%e'fully'pyepaid; or; if giveni byother >rteiiii`s;.tclleritielitere8 at the -at dress- 'specifrcd fir -this Section 13:1: ; :::.:: , : - • ..:: :: ;'„ .` ; ; DI 31,!'RiadWzYIf= .• ;.Ibis Agrcement Anti eacb:Lkase iti:i'eriridet.:s}iall be binding upoirkA shat{ itttiie fd the bw6fit'df T essor and Lessee and their respective``sucoes'sc5rs an8 `assigns: ,.Specifically,'as i[sed hereiii'tfat tcttn- "Lessor" nreafi§ any'p'etson or entity ttr'vvltoin ; .: :: Lessor iias rlehticf rdivfisid its o I&i tal Paymeiit8 under' °any Loose: y j of this'Agreettserit ni anyZcasc shall �e held invalidkr uneiforoeable by iny cdtirt Snrc mi •1 iV •event 56isinfi • � • of cornpetenf jurisdiction;" "such hiiidii�ig''Sha11 D'oCinvati� ate of ienaer aiie#ifoi'ceable atiy:ather prbvision'htaf : :� �iect±nn �Q�4:. Vfitii# Agri p'jryt Adm�:. T his. Agriemenf �cdtistitU6 the =W agreement of the parties'with rl*i E`to'the'stibject: - `fid supersedes lliriorni= ceripoiaeous wtitingg; :undestandings : agreements, • 8olditaSaon docmea; and inattcr'•Nereof a •repres6dihtions;: express or'itiiplied:r ;This A�,idi fenf -mtty ,-be - amended or nioilifie'd .bfily`by written docuttteEttS duly authorized, xxecuted deTiveredby Lessor and Lessee. _ capfiorisor "tieaaings in #bns•Agreenieni are for Wivcnience'ritily and m no way deCnie;+litni# or iICSCriIie the : :.' scope or intent ofanyprovisiou's, :Articles;:ections aP Glaa§es hereof. :,SrrEidri .l3_ _ ' +ririfler' Aacnz7jl¢py'�rtr7:t`iir [tia '- ►tYit�it c., :Lessit Add L..'e— ee"inmC' that' they will,•'fnDm "filitle'to fitlle;.eitediife, • acknowledge -and deliver;. or: causcto° b -e•exceuted,.acknowledged:attd iieliirif d, aiic supptemcM hcrcto and'spchhaher iristtuui�its'as•'. 3riay reasoiiality be'requiied'far'ccitrecEitig iuiy isiadegttate'or incorreot iescripiim'bfU& Equipment hereby leased or.intcnded so to be; dr for otherriv&� oa=ryittgtrut the oXpi esseci inteiitiott oFthis Agreement r' ' :: -' S ;tiryf+:i 1'1_ %(:awern:n�s aav; • tits i 'g'ree`rrieri4 shall b 'govetnctl by and eoristtued in-ACcordaiicimith the lativs'of the State, ' an6etitiotf' of: the: Parties liereto to cottiiisly �v th-any applicfi e- usury' laws; accoidiitgiy, it is agieed •#Ixat,'.' notwihstnd.a ds 't aai tito: a•Lse her'ctsiiddFie0ire the piyr efif or iezinit =lfie COc ecfidn of Into rest or any arr nliinf 4-#k-Oh iure of Interest or #`ees iri execss'i f tht maltiiniftrr : -ainounh peiini ted by applicable •laW.`'.Any sticir ;exce'ss'lribetrsi or-fees snarl` ftt'st':tid- Applied -to •xeduce Principal, and whoti `nb Friucipiil remains;: refiiridedto'I:ii ee, I i deteimirittij -• he er ttie InWb* peid oi':payablB ezet eds tits iafgiiest IaWlul rate; #he'tohaf- amount bf.Interest '. shall be Spie 8d through tlie.appiicitble l e 7 ci m''so that ihfr Interesf'is ritiifotuii t-kaiitiglr'such term, "' rr„ 73A:'Tps P }`• Ptit orltifirii!n- Sanyo ; this ..: ...... .: .. : r • _.E- - A :fdiliare or decay of lessor f tha provisions of tins - llbreeineitt bi any I.cese strait irr': •;.: - :.:..: , :' :ao way be consfrited tti'be aivaiver of sticlr picfvisibt%- • '. ,r, ' tWait%e� nf' 1- irry'Trial • � � • . �ciirila''13:11t :D1�L'I'Eii`' � � ••'; IkEMAINDER •OF PACE Lt f MI7rN i` ONAl i'YBL:ANKI j ol .. •:,�::: rte.. 1. F .. • ` s��e• 7oo-i:t}:eq•�eic:tiAcrrc�:oivasu . r - • - •• • .. ::�7�CU'ITOIt PAC)✓ (iii~ Mri�fi't'FR'LF,AS)C A•GRiC�MEN'I' ,. -- , . •LEAS); htiJD'IRFCZ 02Gd9'"'.' iN W[TiVI:SS`1tVHEAI"Cl1a, lessor ']ias.iauseit- tteAci to tece�ue'n'p'ntio by ihs dri)y authorzed 'ol5ce; atd c T assec'Itas caused this Agieetrient to be czectited in•its tYmne by its "duly' thorized off cer: CITY:OFDELPA'YaEA Cf4,FL "- - SC3NTRICIS i?AsllvcCORPt)XiA':TIfJf�f,, I eMe, Name• Je P' Nartie: Michael wets .• :Title yoi ?ideT 'Seotttary Date• Addt�essi ]OO NW First Averiue : _; ; ; • Address: 29 VJ; �usttuehafma:eeque; Suite 400 To"Gril MD 21204; :.: ' ..:: ;:,'• ' Telc hone: 561/ 243 - 7124 :: `.'.: `; = :: _,' ' : :; .: " ' `Te1' -h- brie, 4107367 -6644 p P lFttcstttule r.56if143 -7166 • Facttititile::410/307- 6702' This is counterpart Nn. l of serially numbet�ed, manually executed eounterparts'of r " this d6Cnn1CnL To the extent that this Lease Agmement constitutes chaticl paper under the Uniform Commercial Cale, a security interest in this (xasc Asreomcnt may be created through the transfer and possession of CountetpartNo. l only. Without the mod to transfer possession of any other original or counterpart or copy of this Lease Agreement or any original or counterpart or copy of any exhibits, addenda, schedules, certificates, riders or other documents and instruments executed -and delivered in connection with this Lease Agreement. .1 i • -ti Y•V2601:Y4&NotDOC /m:NDWa . EXHIBIT A EQUIPMENT SCHEDULE' NO. 03 TO T SE pie 649 v-n �r.�i, —rev. nirrs� The following Equipment comprises an Equipment Group which is the subject of the Master Lease Agreement dated as of May 20, 2004 (the "Agreement ") between the undersigned Lessor and Lessee. The Agreement is incorporated herein in its entirety, and Lessee hereby reaffirms each of its representations, warranties and covenants contained in the Agreement. Lessee warrants that no Non - Appropriation and no Event of Default, or event which, with the passage of time or the giving of notice or both, would constitute an Event of Default, has occurred under the Agreement. An Acceptance Certificate and Payment Schedule are attached to this Equipment Schedule and by reference are made a part hereof. The terms capitalized in this Equipment Schedule but not defined herein shall have the meanings assigned to them in the Agreement. EQUIPMENT GROUP The cost of the Equipment Group to be funded by Lessee under this Lease is $825,000.60 (the "Acquisition Cost "). The Equipment Group consists of the following Equipment which has been or shall be purchased: POLICE AND FIRE SAFETY HARDWARE AND SOFTWARE PER MULTIPLE INVOICES FROM SUNGARD PUBLIC SECTOR The Police Department's computer upgrades will integrate their separate systems including data entry, CAD (dispatch),. mobile data, field reporting, records and parking citations. The Fire Department's new system will include computer aided dispatch and field management reporting The Equipment Group is or will be located at the following address(es). Prior to relocation of the Equipment Group or any portion thereof during the Lease Term, Lessee will provide written notice to Lessor: CITY OF DELRAY Lessee By! h i `` Name: Nelson S. McDuffie Title: Mayor Date: Address: 100 NW ? Avenue Delmy Beach, FL 33444 Telephone: 561/243 -7010 Facsimile: 561/243 -7166' 121)121 t:Hp- NESe.noc(rev.sroo/cic MULTIPLE LOCATIONS SUNTRUST EQUIPMENT FINANCE & LEASING CORP., Lessor Name: GregoryFaherty Title: Vice President Date: Address: 300 East Joppa Road, 7th Floor Towson, MD 21286 Telephone: 410/307 -6648 Facsimile: 410/307 -6668 Lease No.: 02649 Equipment Schedule: 03 ACCEPTANCE CERTIFICATE the above referenced Equipment Schedule and Lease, that: 1. The Equipment described below has been delivered and installed in accordance with Lessee's specifications, is in good working order and is fully operational. and has been fully accepted by Lessee on or before the date indicated below: POLICE AND FIRE SAFETY HARDWARE AND SOFTWARE PER MULTIPLE INVOICES FROM SUNGARI) PUBLIC SECTOR The Police Department's computer upgrades will integrate their separate systems including data entry, CAD (dispatch), mobile data, field reporting, records and parking citations. The Fire Department's new system will include computer aided dispatch and field management. reporting 2. Attached are (a) evidence of insurance with respect to the Equipment in compliance with Article. VII of the Agreement; (b) Vendor invoice(s) and/or bill(s) of sale relating to the Equipment, and if such invoices have been paid by Lessee, evidence of payment thereof (evidence of official intent to reimburse such payment as required by the Code having been delivered separately by Lessee); and (c) financing statements executed by Lessee as debtor and /or the original certificate of title or manufacturer's certificate of origin and title application, if any, for any Equipment which is subject to certificate of title laws. 3. Rental Payments shall be 'due and payable by Lessee on the dates and in the amounts indicated on the Payment Schedule attached to the Equipment. Schedule. Lessee has appropriated and/or taken other lawful actions necessary to provide moneys sufficient to pay all Rental Payments required to be paid under the Lease during the current Fiscal Year of Lessee. Such moneys will be applied in payment of all such Rental Payments due and payable during such current Fiscal Year. Lessee anticipates that sufficient funds shall be available to make all Rental Payments due in subsequent Fiscal Years. 4.. Lessee.hereby authorizes and directs Lessor to fund the. Acquisition Cost of the Equipment by paying, or directing the payment by the Escrow Agent (if applicable) of; the invoice prices to the Vendor(s), in each case as set forth above, or by reimbursing Lessee in the event such invoice prices have been previously paid by Lessee. X 5. Final Acceptance Certificate. This Acceptance Certificate constitutes final acceptance of all of the Equipment identified in the Equipment Schedule described above. Lessee certifies that upon payment in accordance with paragraph 4 above, or direction to the Escrow Agent (if applicable) to make payment, Lessor shall have fully and satisfactorily performed all of its covenants and obligations under the Lease. [CHECK BOX IF APPLICABLE.] CITY OF DELRAY BEACH, Lessee Name: Nelson S. McDuffie Title: Mayor iW O)I:BQ- NESC.D00rev.5/00 /0k Lease No.: 02649 Equipment Schedule: 03 PAYMENT SCREDULE interest or income accruing betwcen the Funding Date and the date on which interest begins to accrue in accordance with the Payment Schedule more fully set forth below. The Annual Interest Rate applicable to the Equipment Group shall be 1.8546 %. Lessee will make Rental Payments each consisting of Principal and Interest as set forth below for a term of 84 months. The first Rental Payment is due on January 6, 2011 and subsequent payments are due monthly on. like date thereafter. Payment Payment Payment Principal Interest Prepayment Number Date Amount Component Component Price* 1 1/6/2012 10,480.31 9,205.28 1,275.03 823,952.67 2 2/6/2012 10,480.31 9,219.51 1,260.80 814,640.96 3 3/6/2012 10,480.31 9,233.76 1,246.55 805,314.87 4 4/6/2012 10,480.31 9,248.03 1,23228 795,974.36 5 5/6/2012 10,480.31 9,262.32 1,217.99 786,619.42 6 6/612012 10,480.31 9,276.63 1,203.68 777,250.02 7 7/6/2012 10,480.31 9,290.97 1,189.34 767,866.14 8 8/6/2012 10,480.31 9,305.33 1,174.98 758,467.75 9 9/6/2012 10,480.31 9,319.71 1,160.60 749,054.84 10 1016/2012 10,480.31 9,334.12 1,146.19 739,627.39 11 11/612012 10,480.31 9,348.54 1,131.77 730,185.37 12 12/6/2012 10,480.31 9,362.99 1,117.32 720,728.75 13 1/6/2013 10,480.31 9,377.46 1,102.85 711,257.51 14 2/6/2013 10,480.31 9,391.95 1,088.36 701,771.64 15 3/6/2013 10,480.31 9,406.47 1,073.84 692,271.11 16 4/6/2013 10,480.31 9,421.00 1;059.31 682,755.8.9 17 5/6/2013 10,480.31 9,435.57 1,044.74 673,225.97 18 6/6/2013 10,480.31 9,450.15 1,030.16 663,681.32 19 7/6/2013 10,480.31 9,464.75 1,015.56 654,121.92 20 8/612013 10,480.31 9,479.38 1,000.93 644;547.75 21 9/612013 10,480.31 9,494.03 986.28 634,958.78 22 10/6/2013 10,480.31 9,508.70 971.61 625,354.98 23 11/6/2013 10,480.31 9,523.40 956.91 615,736.35 24 12/6/2013 10,480.31 9,538.12 942.19 606,102.86 25 1/6/2014 10,480.31 9,552.86 927.45 596,454.47 26 2/6/2014 10,480.31 9,567.62 912.69 586,791.16 27 3/6/2014 10,480.31 9;582.41 897.90 577,112.94 28 4/6/2014 10,480.31 9,597.22 883.09 567,419.75 29 5/6/2014 10,480.31 9,612.05 868.26 557,711.58 30 6/6/2014 10,480.31 9,626.91 853.40 547,988.40 31 7/6/2014 10,480.31 9,641.78 838.53 538,250.19 32 8/6/2014 10,480.31 9,656.69 823.62 528,496.94 33 9/6/2014 10,480.31 9,671.61 808.70 518,728.62 34 10/6/2014 10,480.31 9,686.56 793.75 508,945.19 35 11/6/2014 10,480.31 9,701.53 778.78 499,146.65 12!!201 l:BQ- NESC.D OChm.5/001cic Lease No.: 02649 Equipment Schedule: 03 Payment Payment Payment Principal Interest Prepayment Number Date Amount Component Component Price* 36 12/6/2014 10,48031 9,716.52 763.79 489,332.96 37 116/2015 10,480.31 9,731.54 748.77 479,504.11 38 2/6/2015 10,480.31 9,746.58 733.73 469,660.06 39 3/6/2015 10,480.31 9,761.64 718.67 459,800.80 40 4/6/2015 10,480.31 9,776.73 703.58 449,926.31 41 5/6/2015 10,480.31 9,791.84 688.47 440,036.56 42 616/2015 10,480.31 9,806.97 673.34 430,131.51 43 7/6/2015 10,480.31 9,822.13 658.18 420,211.17 44 8/6/2015 10,480.31 9,837.31 643.00 410,275.48 45 9/6/2015 10,480.31 9,852.51 627.80 400,324.45 46 10/6/2015 10,480.31 9,867.74 612.57 390,358.03 47 11/6/2015 10,480.31 9,882.99 597.32 380,376.21 48 12/6/2015 10,480.31 9,898.26 582.05 370,378.97 49 1/6/2016 10,480.31 9,913.56 566.75 360,366.27 50 2/6/2016 10,480.31 9,928.88 551.43 350,338.10 51 3/6/2016 10,480.31 9,944,23 536.08 340,294.43 52 4/6/2016 10,480.31 9,959.60 520.71 330,235.24 53 5/6/2016 10,480.31 9,974.99 505.32 320,160.50 54 616/2016 10,480.31 9,990.40 489.91 310,070.19 55 7/6/2016 10,480.31 10,005.84 474.47 299,964.29 56 8/6/2016 10,480.31 10,021.31 459.00 289,842.77 57 9/6/2016 10,480.31 10,036.80 443.51 279,705.60 58 10/6/2016 10,480.31 10,052.31 428.00 269,552.77 59 11/6/2016 10,480.31' 10,067.84 412.47 259,384.25 60 1216/2016 10,480.31 10,083.40 396.91 249,200.02 61 1/6/2017 10,480.31 10,098.99 381.32 239,000.04 62 2/6/2017 10,480.31 10,114.59 365.72 228,784.30 63 3/612017 10,480.31 10,130.23 350.08 218,552.77 64 4/612017 10,480.31 10,145.88 334.43 208,305.43 65 5/612017 10,480.31 10,161.56 318.75 198,042.24 66 6/6/2017 10,480.31 10,177.27 303.04 187,763.20 67 7/6!2017 10,480.31 10,193.00 287.31 177,468.28 68 8/6/2017 10,480.31 10,208.75 271.56 167,157.44 69 9/6/2017 10,480.31 10,224.53 255.78 156,830.67 70 10/6/2017 10,480.31 10,240.33 239.98 146,487:94 71 11/6/2017 10,480.31 10,256.16 224.15 136,129.21 72 12/6/2017 10, 480.31 10, 272.01 208.30 125, 754.4 9 73 1/6/2018 10,480.31 10,287.88 192.43 115,363.73 74 2/6/2018 10,480.31 10,303.78 176.53 104,956.91 75 3/6/2018 10,480.31 10,319.71 160.60 94,534.01 76 416/2018 10,480.31 10,335.66 144.65 84,094.99 77 5/6/2018 10,480.31 10,351.63 128.68 73,639.85 12/11201 1;HQ•NHSCJ)OClrov. 5100 /ck 5 Lease No.: 02649 Equipment Schedule: 03 Payment Payment Payment Principal Interest Prepayment Number pate Amount Component Component Price* 78 6/6/2018 10,480.31 10,367.63 112.68 63,168.55 79 7/6/2018 10,480.31 10,383.65 96.66 52,681.06 80 8/6/2018 10,480.31 10,399.70 80.61 42,177.37 81 916/2018 10,480.31 10,415.77 64.54 31,657.44 82 10/6/2018 10,480.31 10,431.87 48.44 21,121.25 83 11/6/2018 10,480.31 10,447.99 32.32 10,568.78 84 12/6/2018 10 480.31 10,464.10 16.21 0.00 _ Totals 880,346.04 825,000.00 55,346.04 CITY OF DELRAY BEACH, Lessee Name: Nelson S. McDuffie Title: Mayor Date: * After payment of Rental Payment due on such date. 12 /1 /2011:AQ- NESCD0Grev.5/00%1c 6 [Non Escrow] EXHIBIT B -1 Lease Number: 02649 Equipment Schedule: 03 This TAX AGREEMENT AND ARBITRAGE CERTIFICATE (this "Certificate") is issued by .CITY OF DELRAY BEACH ( "Lessee ") in favor of SUNTRUST EQUIPMENT FINANCE & LEASING CORP. ( "Lessor ") in connection with that certain Master Lease Agreement dated as of May 20, 2004 (the "Agreement "), by and between Lessor and Lessee. The terms capitalized herein but not defined herein shall have the meanings assigned to them in the Agreement. Section 1. In General. 1.1 This Certificate is executed for the purpose of establishing the reasonable expectations of Lessee as to future events regarding the financing of certain equipment (the "Equipment ") to.ber acquired by Lessor and leased to Lessee pursuant to and in accordance with the Equipment Schedule referenced above (the "Equipment Schedule ") executed under the Agreement (together with all related documents executed pursuant thereto and contemporaneously herewith, the "Financing Documents "). As described in the Financing Documents, Lessor shall apply $825.000.00 (the "Principal Amount ") toward the acquisition -of the Equipment and Lessee shall make Rental Payments under the terms and conditions as set forth in the Financing Documents. 1.2. The individual executing this Certificate on behalf of Lessee.is an officer of Lessee delegated with the responsibility of reviewing and executing the Financing Documents, pursuant to the resolution or other official action of Lessee adopted with respect to the Financing Documents, a copy of which has been delivered to Lessor. 1.3. The Financing Documents are. being entered into for the purpose of providing funds for financing the cost of acquiring, equipping and installing the Equipment which is essential to the governmental functions of Lessee, which Equipment is described in the Equipment Schedule. The Principal Amount will be disbursed by Lessor on or promptly after the date of issuance of the Financing Documents to acquire the Equipment. 1.4 Lessee will timely file for each payment schedule issued under the Lease a Form 8038 -0 (or,, if the invoice price of the Equipment under such schedule is less than $100,000, a Form 8038 -GC) relating to such Lease with the Internal Revenue Service in accordance with Section 149(e) of the Internal Revenue Code of 1986, as amended (the "Code "). 1.5. Lessee has not issued, and reasonably anticipates that it and its subordinate entities, if any, will not issue, tax - exempt obligations (including the Lease) in the amount of more than $10,000,000 during the current calendar year. Lessee hereby designates the Lease as a "qualified tax - exempt obligation" within the meaning of Section 265(b)(3) of the Code and agrees that it and its subordinate entities, if any, will not designate more than $10,000,000 of their obligations as "qualified tax- exempt obligations" during the current calendar year. Section 2: Non - Arbitrage Certifications. 2.1. The Rental Payments due under the Financing Documents will be made with monies retained in Lessee's general operating fund (or an account or subaccount therein). No sinking, debt service, reserve or similar fund or account will be created or maintained for the. payment of the Rental Payments due under the Financing Documents or pledged as security therefor. 2.2. There have been and will be issued .no obligations by or on behalf of Lessee that would be deemed to be (i) issued or sold within fifteen (15) days before or after the date of issuance of the Financing Documents, (ii) issued or sold pursuant to a common plan of financing with the Financing Documents and (iii). paid out of substantially the same source.of funds as, or deemed to have substantially the same claim to be paid out of substantially the same source of funds as, the Financing Documents. 2.3. Lessee does not and will not have on hand any funds that are or will be restricted, segregated, legally required or otherwise intended to be used, directly or indirectly, as a substitute, replacement or separate source of financing for the Equipment. 2.4. No portion of the Principal Amount is being used by Lessee to acquire investments which produce a yield materially higher than the yield realized by Lessor from Rental Payments received under the Financing Documents. 2.5. The Principal Amount does not exceed the amount necessary for the governmental purpose for which the Financing Documents were entered into. Such funds are expected to be needed and fully expended for payment of the costs of acquiring, equipping and installing the Equipment. 2.6. Lessee does not expect to convey, sublease or otherwise dispose of the Equipment, in whole or in part, at a date which is earlier than the final Payment Date under the Financing Documents. Section 3. _Disbursement of Funds: Reimbursement to Lessee. 3.1 It is contemplated that the entire Principal Amount will be used to pay the acquisition cost of Equipment to the vendors or manufacturers thereof, provided that, if applicable, a portion of the principal amount may be paid to Lessee as reimbursement for acquisition cost payments already made by it so long as the conditions set forth in Section 3.2 below are satisfied. 3.2. Lessee shall not request that it be reimbursed for Equipment acquisition cost payments already made by it unless each of the following conditions have been satisfied: 1Rl1/201 l:B0- wscj30Groe Slooki, (a) Lessee adopted a resolution or otherwise declared its official intent in accordance with Treasury Regulation § 1.150 -2 (the "Declaration of Official Intent "), wherein Lessee expressed its intent to be reimbursed from the proceeds of a borrowing for all or a portion of the cost of the Equipment, which expenditure was paid to the Vendor not earlier than sixty (60) days before Lessee adopted the Declaration of Official Intent; (c) The entire payment with respect to which reimbursement is being sought is a capital expenditure, being a cost of a type properly chargeable to a capital account under general federal income tax principles; and (d) Lessee will use any reimbursement payment for general operating expenses and not in a manner which could be construed as an artifice or device under Treasury Regulation § 1.148 -10 to avoid, in whole or in part, arbitrage yield restrictions or arbitrage rebate requirements. Section 4. Use and Investment of Funds: Temporary Period. 4.1. Lessee has incurred or will incur, within six months from the date of issuance of the Financing. Documents, binding obligations to pay an amount equal to at least five percent (5 %) of the Principal Amount toward the costs of the Equipment. An obligation is not binding if it is subject to contingencies within Lessee's control. The ordering and acceptance of the items of Equipment will proceed with due diligence to the date of final acceptance of the Equipment. 4.2. An amount equal to at least eighty -five percent (85 1/o) of the Principal Amount will be expended to pay the cost of the Equipment by the end of the three -year period commencing on the date of this Certificate. No portion of the Principal Amount will be used to acquire investments that do not carry out the governmental purpose of the Financing Documents and that have a substantially guaranteed yield of four (4) years or more. 4.3. (a) Lessee covenants and agrees that it will rebate an amount equal to excess earnings on the Principal Amount to the Internal Revenue Service if required by, and in accordance with, Section 148(f) of the Code, and make the annual determinations and maintain the records required by and otherwise comply with the regulations applicable thereto. (b)Lessee reasonably expects to cause the Equipment to be acquired and placed in service within one (1) month of the date of issuance of the Financing Documents. If the entire Principal Amount has not been expended on the Equipment by the date that is the six-month anniversary of the issuance ofthe- Financing Documents, Lessee will provide evidence to Lessor that the rebate amount has, been calculated and paid to the Internal Revenue Service in accordance with Section 148(f) of the Code. (c) Lessee. hereby covenants that (i) Lessee is a governmental unit with general tax powers; (ii) the Lease is not a "private activity bond" under Section 141 of the Code; (iii) at least ninety -five percent (95%) of the Principal Amount is used for the governmental activities of Lessee; and (iv) the aggregate principal amount of all tax- exempt obligations (including the Lease) issued by Lessee and its subordinate entities, if any; during the current calendar year is not reasonably expected to exceed. $5,000,000. Accordingly,_ the rebate requirements of Section 148(f) of the Code are treated as being met, in lieu of the spending exceptions set forth in paragraph (b) above. Section 5. No Private Use: No Consumer Loan. 5.1. Lessee will not exceed the private use restrictions set forth in. Section 141 of the Code. Specifically, Lessee will not permit more than ten (10 %) of the Principal Amount to be used for a Private Business Use (as defined herein) if; in addition, the payment of more than ten percent (10 6/o) of the Principal Amount, plus interest earned thereon is, directly or indirectly, secured by (i) any interest in.propertyused or to be used for a Private Business Use or (ii) any interest in payments in respect of such property or derived from any payment in respect of property or borrowed money used or to be used for a Private Business Use. In addition, if both (A) more than five percent. (S%) of the Principal Amount is used as described above with respect to Private Business Use and (B) more than five percent (5 %) of the Principal Amount plus interest earned thereon is secured by Private Business Use property or payments as described above, then the excess over such five percent (5 1%) (the "Excess Private Use Portion's will be used for a Private Business Use related- to the governmental use of the Equipment. Any such Excess Private Use Portion of the Principal Amount will not cxcecd the portion of the Principal Amount -used for the governmental use. of the particular project to which such Excess. Private Use Portion is related. For purposes of this paragraph 5.1, `Private. Business Use" means use of bond proceeds or bond financed- pro perty directly or indirectly in. a trade or business carried. on by a natural person or in any activity carved on by a person other than a natural person, excluding, however, use by a state or local governmental unit and excluding use as a member of the general public. 5.2. No part of the Principal Amount or interest earned thereon will be used, directly or indirectly, to make or finance any loans to non- governmental entities or to any governmental agencies other than Lessee. Section 6. No Federal Guarantee. 6.1. Payment of the principal or interest due under the Financing Documents is not directly or indirectly guaranteed; in whole or in part, by the United States or an agency or instrumentality thereof•. 6.2. No portion. of the Principal Amount or interest earned thereon shall be (j) used in making .loans the payment of principal or interest of which are to be guaranteed,_ in whole or in part, by the United States or any agency or instrumentality thereot or (ii) invested, directly or indirectly, in federally insured deposits or accounts if such investment would cause the financing under the Financing Documents to be "federally guaranteed" within the meaning of Section 149(b) of the Code. 12fi12011 ;BQ.NESC.r0C1rev.51001Wc 8 Section 7. Miscellaneous. 7.1. Lessee shall keep a complete and accurate record of all owners or assignees of the Financing Documents in form and substance satisfactory to comply with the registration requirements of Section 149(a) of the Code unless Lessor or its assignee agrees to act as thereon for a period of five years after payment in full under the Financing Documents. 7.3. To the best of the undersigned's Imowledge, information and belief, the above expectations are reasonable and there are. no other facts, estimates or circumstances that would materially change the expectations expressed herein. IN WITNESS WHEREOF, this Tax Agreement and Arbitrage Certificate has been executed on behalf of Lessee as of December 6, 2011. DELRAY t By: k .,w-� - t Name; Nelson S.1vMbDuffie Title: Mayor 12/1 /2011:BQ- 14MCDOC/rev.5Po0kic [Non - Escrow] -- RESOLUTION -N& R -5 EXHIBIT C Lease Number: 02649 Equipment Schedule: 03 At a duly called meeting of the governing body of Lessee held in accordance with all applicable legal requirements, including open meeting laws, on the 6hday of December , 2011, the following resolution was introduced and adopted: RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A MASTER LEASE AGREEMENT, EQUIPMENT SCHEDULE NO. 03 AND RELATED INSTRUMENTS, AND DETERMINING OTHER MATTERS IN CONNECTION THEREWITH. WHEREAS, the governing body of CITY OF DELRAY BEACH ("Lessee") desires to obtain certain equipment (the "Equipment ") described in Equipment Schedule No. 03 to the Master Lease Agreement (collectively, the "Lease") with SUNTRUST EQUIPMENT FINANCE & LEASING CORP., the form of which_ has been available for review by the governing body of Lessee prior to this meeting; and WHEREAS, the Equipment is essential for the Lessee to perform its .governmental functions; and V-44EREAS, the funds made available under the Lease will be applied to the acquisition of the Equipment in accordance with such Lease; and WHEREAS, Lessee has taken the necessary steps, including those relating to any applicable legal bidding requirements, to arrange for the acquisition of the }equipment; and WHEREAS; Lessee proposes to enter into the Lease with SUNTRUST EQU PMENT FINANCE & LEASING CORP. substantially in the form presented to this meeting. NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF.LESSEE AS FOLLOWS: Section 1. It is hereby found and determined that the terms of the Lease in the form presented to this meeting and incorporated in this resolution are in the best interests of Lessee for the acquisition of the Equipment. Section 2. The Lease and the acquisition and financing of the Equipment under the terms and conditions as described in the Lease are hereby approved. The Mayor of Lessee and any other officer of Lessee who shall have power to execute contracts. on behalf of Lessee be, and each of them hereby is, authorized to execute, acknowledge and deliver the Lease with any changes, insertions and omissions therein as may be approved by the officers who execute the Lease, such approval to be conclusively evidenced by such execution and-delivery of the, Lease. The City Clerk of the Lessee and any other officer of Lessee who shall have power to do so be, and each of them hereby is, authorized to affix the official seal of Lessee to the Lease and attest the same. Section 3. The proper officers of Lessee be, and each of them hereby is, authorized and directed to execute and deliver any and all papers, instruments, opinions, certificates, affidavits and other documents and to do or cause to be done any and all other acts and things necessary or proper for carrying out this resolution and the Lease. Section 4. Pursuant to Section 265(6) of the Internal Revenue Code of 1986, as amended (the "Code"), Lessee hereby specifically designates the Lease as a "qualified tax- exempt obligation" for purposes of Section 265(b)(3) ofthe Code. The undersigned further certifies that the above resolution has not been repealed or amended and remains in full force and effect and further certifies that the Lease executed on behalf of Lessee is the same as presented at such meeting of the governing body of Lessee, excepting only such. changes, insertions and omissions as shall have been approved by the officers who execut&i e. same. Date: 121112011:BQ- MSC,DOGrox 5/pOkie CITY,OF, DELRAY Lessee By.t4, ~<...1,. Name: Nelson S. M Title: Mayor. Atteste By :t,`s Name: 3 Title: 10 EXHIBIT I) Lease No.: 02649 Equipment Schedule: 03 INCUMBENCY CERTIFICATE I do hereby certify that) am the duly elected or appointed and acting City Clerk of CITY OF DELRAY BEACH a political subdivision duly organized and existing under the laws of the State of Florida, that I have custody of the records of such entity, and that, as of the date hereof, the individuals named below are the duly elected or appointed officers of such entity holding the offices set forth opposite their respective names. I further certify that (i) the signatures set opposite their respective names and. titles are their true and authentic - signatures and (ii) such officers have the authority on behalf of such entity to enter into that certain Master Lease Agreement dated as of May 20, 2004 between such.entity and SUNTRUST EOUIPMENT FINANCE & LEASING CORP_ NAME Nelson S. McDuffie Mayor TITLE IN WITNESS WHEREOF, I have duly executed this certificate as of this day of December, 2011. Title: C 1 G.eLK. 1211 12011:DQ•NESC.D0Chev.5 /00lek I I WRITER'S DIRECT LINE: 6611243 -7091 1 1 . BEACH . 1 G R 1 f) A q�mericaCity December 7, 2011 SunTrust Equipment Finance & Leasing Corp. 199.3 2001 300 East Joppa Road, 7th Floor Towson, Maryland 21286 Subject: Master Lease Agreement dated as of May 20, 2004 (the "Agreement") by and between SUNTRUST EQUIPMENT FINANCE & LEASING CORP. ( "Lessor ") and CITY OF DELRAY BEACH ( "Lessee ") Ladies and Gentlemen: We have acted as counsel to Lessee with respect to the Agreement described above and various related matters, and in this capacity have reviewed a duplicate original or certified copy thereof and Equipment Schedule No. 03 executed pursuant thereto (together with the Agreement, the "Lease "). The terms capitalized in this opinion but not defined herein shall have the meanings assigned to them in the Lease. Based upon the examination of these and such other documents as we have deemed relevant, it is our opinion that: 1. Lessee is a political subdivision of the State of Florida (the "State ") within the meaning of Section 103(c) of the Internal Revenue Code of 1986, as amended, and is duly organized, existing and operating under the Constitution and laws of the State. 2. Lessee is authorized and has the power under applicable law to enter into the Lease, and to carry out its obligations thereunder and the transactions contemplated thereby. 3. The Lease has been duly authorized, executed and delivered by and on behalf of Lessee, and is a legal, valid and binding obligation of Lessee enforceable in accordance with its terms, except as enforcement thereof may be limited by bankruptcy, insolvency and other similar laws affecting the enforcement of creditors' rights generally and by general equitable principles. SunTrust Equipment & Leasing Corp. December 7, 2011 Page 2 4. To the best of my knowledge, the authorization and execution of the Lease and all other proceedings of Lessee relating to the transactions contemplated thereby have been performed in accordance with all applicable open meeting, public records, public bidding and all other laws, rules and regulations of the State. 5. The execution of the Lease and the appropriation of moneys to pay the Rental Payments coming due thereunder do not and will not result in the violation of any constitutional, statutory or other limitation relating to the manner, form or amount of indebtedness which may be incurred by Lessee. 6. There is no litigation, action, suit or proceeding pending or before any court, administrative agency, arbitrator or governmental body that challenges the organization or existence of Lessee, the authority of Lessee or its officers or its employees to enter into the Lease, the proper authorization and /or execution of the Lease or the documents contemplated thereby, the appropriation of moneys to make Rental Payments under the Lease for the current Fiscal Year of Lessee, or the ability of Lessee otherwise to perform its obligations under the Lease and the transactions contemplated thereby. To the best of our knowledge, no such litigation, action, suit or proceeding is threatened. 7. Resolution No. 58-11 of the governing body of Lessee was duly and validly adopted by such governing body on December 6, 2011 and such resolution has not been amended, modified, supplemented or repealed and remains in full force and effect. This opinion may be relied upon by the addressee hereof and its successors and assignees of interests in the Lease, but only with regard to matters specifically set forth herein. Sincerely, OFFICE OF THE CITY ATTORNEY CITY OF DELRAY BEACH, FLORIDA R. Brian Shutt, Esq. City Attorney EXHIBIT G -1 Lease No.: 02649 Equipment Schedule: 03 P.O. Box 530065, Orlando, FL 32.853 Attn: Peter Arts, Plastridge Agency Phone: 561- 395 -1433 Fax: 561- 395 -4755 Insurance Agent Name. & Address Phone Number and Fax Number Gentlemen: CITY OF DELRAY BEACH has entered into a Master Lease Agreement dated as of May 20, 2004 with SUNTRUST EQUIPMENT FINANCE & LEASING CORP. In accordance with the Agreement, Lessee certifies that it has instructed the insurance agent named above to issue: a. All Risk Physical Damage Insurance on the leased Equipment evidenced by a Certificate of insurance and Long Form Loss Payable Clause naming SunTrust Equipment Finance & Leasing Corp. and/or its assigns as Loss Payee. b. Public Liability Insurance evidenced by a Certificate of Insurance. The Coverage Required is $825,000.00 The following minimum coverage is required: Liability: $ 500,000.00 per person Liability - Bodily Injury: $1,000,000.00 aggregate Liability - Property Damage: $1,000,000.00 property damage liability PROPERTY: POLICE AND FIRE SAFETY HARDWARE. AND SOFTWARE PER MULTIPLE INVOICES FROM SUNGARD PUBLIC SECTOR The Police Department's computer upgrades will integrate their separate systems including data entry, CAD (dispatch), mobile data, field reporting, records and parking citations. The Fire Department's new system will include computer aided dispatch and held management reporting LOCATION: 100 NW 1ST AVENUE DELRAY BEACH, FL 3344 Upon issuance of the coverage outlined above, please mail a certificate of insurance to SunTrust Equipment Finance & Leasing Corp., 300 East Joppa Road, 7t' Floor, Towson, Maryland. 21286. Your courtesy in issuing and forwarding the requested certificate at your earliest convenience will be appreciated. Very truly yours, CITY OF DELRAY 1 (19ACH,\- By: '%� ! t;� Name: Nelson S. Title: Mayor Date: 121MO)1:B¢- NCSC.D0rh01 /001dC 13 EXMrr G-2 Equipment Schedule: 03 QUESTIONNAIRE FOR SELF- INSURANCE TO IYUSTER LEASE AGREEMENT In connection will) the Master Lease Agreement (the "Agreement."), dated as of May 20, 2004, made and entered into by and between SUNTRUST EQUIPMENT FINANCE & LEASING COIF., as Lessor (the "f esso>"), and the lessee identified below, as Lessee (the "Lessee "), Lessee warrants and represents to Lessor the following information. The temrs capitalized herein but not defined herein skull have the meanings.assigned to them in the Agreement. 1, $ropertyrrrstfrartce. a. Lessee is self - insured ��gilqge or destruction to the Equipment. Si NO (circle one) �/ �0 Ifyes, the dollar amour innif for property damage to The Equipment under lit_e Lessee's self- insurance program is C b. The Lessee maintains an umbrella insurance policy for claims in excess of Lessee's self- insurance limits fbr property damage to the Equipment as m,3r- ove. (`— NO (circle one) ifycs, the umbrella poli%Lp vtdes coverage for all risk.property damage. YES NO (circle one) Ifyes, the dollar limit YES damage to the Equipment under such wnbrella policy is 5,_�. 2._ Lfabflfly.fit wane. a. Lessee is self- insured for liability for injury or death: of any person or damage or loss of property arising out of or relating to the condition oroperatio Equipment. YES I . NO (circle one) If yes, the dollar 11mitfoNuoWliability claims under the Lessee's self-insurance program is $ -)-00Y-/0a- b. The Lessee.mantfains ella insurance policy for claims in excess ofLessee's self - insurance limits for liability including injury, or de of pe . ns or damage to property as indicated above. NO • (circle one) Ifyes, the umbrella policy rovides coverage for liabilities for injury and death to persons as well as damage or loss of property arising out of relaq to the condition or operation of the Equipmea Y13S NO (circle one) I OLG If yes, tine dollar t of the umbrella policy's Ihidts for such liability coverage is $ !� _ SeFflrtstn arrce i-und. a. Lessee maintains a self. e fiord. fis i` NO (circle one) Ifyes, please complete the l awing. Monies is the self-insurance ftntd s3i �ject to annual appropriation F 3s J NO (circle one) The total amount maintained in Ure�eltt-"t"nsuranee fund to cover Lessee's self-insurance liabilities is $ b. Amounts paid from. the Lessee's selfjusyfaco are subject to limitations for each claim. YES (circle one) If yes, the dollar amount of limit per claim is $ un�zouaQ xascr�o�,sv.s oaa� 14 a. If Lessee does not maintain a self - insurance fund, please complete the foliowltxg Lessee obtains funds to pay claims for which it has self - insured front the following sources: b.. The lbuitatious on the anounts payable for claims from the above sources are as follows: 4_ to jots .. — PC) l l P ' ` ' �- a. The following entity or ofttcer bas authority to authorize payment for claim: V� b. lathe event the entity or cer n ed in the prior response denies payment of a claim, does ihe claimant have recourse to -mother adauiuistrad Meer, agene or the courts? YES NO (circle one) If yes, to Z:imn d e claimant have recourse? S. Cuffiicates of9'nsurance. Attached hcreto are copies of certificates of insurance with respects policies maintained by Lessee. IN WrINESS WHEREOF, Lessee has caused this Questiomtaire to be executed as a supplement to the representations of Lessee in the Agreement by its duly authorized officer. 1 GTI'1r 9F DnRAY DFACH, Lessee Attachment iannmitaQ -Nsc v0V— .5.V4'e- is Nance: Nelson S. McDuffie Tltie: Mayor Date: Telephone: 561/243-7010 Facsimile: 561/243 -7166 i SUNTRUST EQUIPMENT FINANCE & LEASING CORP. ADDE • EQUIPMENT SCHEDULE NO. i � � �_LY]si.��- \Jt��n .n��e✓t ►���nw:nrv�l�ixrr�flif� THIS ADDENDUM is made as of December 6, 2011, between SUNTRUST EQUIPMENT FINANCE & LEASING CORP. (the "Lessor ") and CITY OF DELRAY BEACH (the "Lessee "). Recitals A. Lessor and Lessee have entered into a Master Lease Agreement dated as of May 20, 2004 (the "Agreement "). B. Lessee desires to lease equipment described in Equipment Schedule No. 03 to the Agreement (the "Equipment ") and Lessee has requested that Lessor lease such Equipment to Lessee. C. With respect to Equipment Schedule No. 03, Lessee has requested that Lessor permit it to provide self - insurance for liability claims and property damage. D. Lessor is willing to grant Lessee's request subject to the following terms and conditions. NOW, THEREFORE,, in consideration of the premises and mutual covenants and agreements contained herein and in the Agreement, it is hereby agreed as follows: 1. The terms capitalized in this Addendum but not defined herein shall have the meanings assigned to them in the Agreement. 2. Lessee hereby represents and warrants that all representations and warranties contained in the Agreement are true and correct as of the date hereof and that neither a Non - Appropriation nor any Event. of Default or event which, with the passage of time or giving of notice or both, would constitute an Event of Default has occurred under the Agreement. 3. All other terms and conditions of the Agreement not specific_ ally amended by this Addendum shall remain in .full force and affect and are hereby ratified and confirmed by Lessee. 4. Lessee represents and warrants that all representations and warranties contained in the Questionnaire for Self- Insurance to Master Lease Agreement (the "Questionnaire ") are true and correct as of the date hereof. 5. Lessor acknowledges receipt of the Questionnaire and, in reliance upon the information provided therein, agrees that Lessee may satisfy the requirements of Sections 7.1 through 7.3 of the Agreement with respect to Equipment Schedule No. 02 through self- insurance. 6. By written. notice to Lessee, Lessor may revoke its agreement relative to Equipment Schedule No. 03 to accept self-insurance in lieu of the insurance required by Section 7.1 through 7.3 of the Agreement at any time during the related Lease Term when Lessor deems itself insecure with respect to such.self-4nsurance. Within thirty (30) days of receipt of notice from Lessor, Lessee agrees to obtain insurance in compliance with Section 7.1, 7.2 and 73 of the Agreement and provide evidence thereof to Lessor. IN WITNESS WHEREOF, the parties by their duly authorized officers have executed this Addendum as of the date and year first above written. CITY OF DELRAY BEACH, Lessee 1 Name: Nelson S. McDuffie ,i Title: Mayor tf Date: 12n12011:BQ- NESC.D0Grca51001c1c 16 SUNTRUST EQUIPMENT FINANCE & LEASING CORP., Lessor By: Name: Gregory Faherty Title: Vice President Date: 03��G Information Return for Tax - Exempt Governmental Obligations Fnrm V ► Under Internal Revenue Code section 149(e) OMB No. 1545 -0720 (Rev. May 2010) ► See separate instructions. Department of the Treasury Caution: If the issue price is under $100,000, use Form 8038 -GC. Internal Revenue Service A -1 tssuor g name City of Delray Beach 59 6000308 3 Number and street (or P.O. box if mail Is not delivered to street address) Room /suite 4 Report number (For IRS Use Only) 100 NW 1st Avenue 125 5 City, town, or post office, state, and ZIP code 6 Date of issue Delray Beach, FL 33444 December 6, 2011 7 Name of issue 8 CUSIP number Master Lease Agreement No. 02649, Equipment Schedule No, 003 9 Name and title of officer of the issuer or other person whom the IRS may call for more information 10 Telephone number of officer or other person Rebecca S. O'Connor, Treasurer ( 561 } 243 -7120 FMM Tvne of Issue (enter the issue price) See instructions and attach schedule 11 Education . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Health and hospital . . . . . . . . . . . . . . . . . . . . . . . . 13 Transportation . . . . . . . . . . . . . . . . . . . . . . . . . 14 Public safety . . . . . . . . . . . . . . . . . ......_..__ 15 Environment (including sewage bonds) . . . . . . . . . . . . . . . . . 16 Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 17 Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Other. Describe ► 19 If obligations are TANS or RANs, check only box 19a . . . . . . . . . . . . ► ❑ If obligations are BANS, check only box 19b . . . . . . . . . . . . . . . ► ❑ 20 If obligations are in the form of a lease or installment sale, check box . . . . . . . ► 11 12 13 14 15 825,000 00 ..._.__._... 16 17 18 Description of Obligations. Complete for the entire issue for which this form is bein g filed. (a) Final maturity date (b) Issue price (c) Stated redemption price at maturity fd) Weighted average maturity (e) Yield 21 December 6, 2018 $ 825,000.00 $ 3.6173 vears 1.8546 % Uses of Proceeds of Bond Issue includin underwriters' discount 22 Proceeds used for accrued interest . . . . . . . . . . . . . . . . . . 23 Issue price of entire issue (enter amount from line 21, column (b)) . . . . . 24 Proceeds used for bond issuance costs (including underwriters' discount) . 24 25 Proceeds used for credit enhancement . . . . . . . . . . , 25 26 Proceeds allocated to reasonably required reserve or replacement fund , . 26 27 Proceeds used to currently refund prior issues , , , , . , . , , 27 28 Proceeds used to advance refund prior issues . . . . . . . . . 28 29 Total (add lines 24 through 28) . . . . . . . . . . . . . . . . . . . . 30 Nonrefunding proceeds of the Issue subtract line 29 from line 23 and enter amount here 22 23 29 30 Descri tion of Refunded Bonds (Complete this part only for refunding bonds. 31 Enter the remaining weighted average maturity of the bonds to be currently refunded . . . ► NIA years 32 Enter the remaining weighted average maturity of the bonds to be advance refunded . . . ► NIA years 33 Enter the last date on which the refunded bonds will be called (MM /DD/YYYY) . . . . . 0- NIA 34 Enter the date(s) the refunded bonds were issued ► (MM /DD/YYY1) For Privacy Act and Paperwork Reduction Act Notice, see separate instructions. cat. No. 63773s Form 8038 -G (Rev. 5 -2010) Form 8038 -G (Rev. 5 -2010) 35 Enter the amount of the state volume cap allocated to the issue under section 141(b)(5) . . . 36a Enter the amount of gross proceeds invested or to be invested in a guaranteed investment contract Page 2 6 Enter the final maturity date of the GIC ► 37 Pooled financings: a Proceeds of this issue that are to be used to make loans to other governmental units . . . . . . . . . . . . . . . . . . . . . . . . 37a b If this issue is a loan made from the proceeds of another tax - exempt issue, check box ► ❑ and enter the name of the issuer ► and the date of the issue ► 38 If the issuer has designated the issue under section 265(b)(3)(B)(i)(III) (small issuer exception), check box . . . . IMP- 39 If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check box . . . . . . . . . . . . . ► ❑ 40 If the issuer has identified a hedge, check box . . . . . . . . . . . . . . . . . . . . . . . . ► ❑ Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge Signature and belief, they are true, correct, and complete. I further declare that I consent to the IRS's disclosure of the Issuer's return Information, as necessary and to process this return, to the person that I have authorized above. Consent ' Nelson S. McDuffie, Mayor Signature of issuer's authorized representative Date p Type or print name and title Preparer's Date Preparer's SSN or PTIN Paid signature Check if Preparer's self-employed ❑ Firm's name (or EIN Use Only yours if self - employed), Form 8038 ^G (Rev. 5-2010) SUNTRUST EQUIPMENT FINANCE & LEASING CORP. DISBURSEMENT AUTHORIZATION December 6, 2011 SunTrust Equipment Finance & Leasing Corp. 300 Fast Joppa Road, 7'I' Floor Towson, MD 21286 Gentlemen: In connection with the certain Equipment Schedule No. 03 between SUNTRUST EQUIPMENT FINANCE & LEASING CORP. ( "Lessor") and CITY OF DELRAY BEACH ( "Lessee "), pursuant to that certain Master Lease Agreement dated as of May 20, 2004, between Lessor and Lessee (the "Lease "), Lessee hereby authorizes and directs Lessor to pay for the equipment, covered under the above referenced Schedule, VIA WIRE TRANSFER as follows: Destination Information: Bank Name Bank ABA Number Account Number Account Name Attention Dollar Value Reference TOTAL DISBURSEMENTS: Bank of America 026009593 1451029661 City of Delray Beach Becky O'Connor 561-243-7120 $825,000.00 Reimbursement on Software /Hardware $825,000.00 Lessee acknowledges delivery, acceptance and good working order of all the Equipment. Lessee warrants that payment to the persons of the amounts described above constitutes full and final payment to all persons necessary so that the Equipment is fully paid for and shall be owned by Lessor free of all liens and encumbrances. CITY OF DELRAY BEACH Name: Nelson S. McDuff PAY PROCEEDS / DISBURSEMENT (11/99) Intemal Revenue Code 1031 - ADDED 1108 leet Page I of 2 MEMORANDUM Mayor and City Commissioners Rebecca S. O'Connor, Treasurer UGH: David T. Harden, City Manager December 1, 2011 ?CT: AGENDA ITEM 8.T. -REGULAR COMMISSION MEETING OF DECEMBER 6.2011 RESOLUTION NO. 58-1 VADDENDUM TO THE LEASE PURCHASE AGREEMENT /SUNTRUST LEASING BEFORE COMMISSION ve Resolution No. 58 -11 authorizing the execution and delivery of a Master Lease Agreement vent Schedule No. 03 in the amount of $825,000, and related instruments, and determining other in connection with this equipment lease. Schedule No. 03 is an amendment to an existing Lease agreement dated May 20, 2004 with SunTrust Leasing Corporation and will provide ng for the reimbursement of Public Safety hardware and software expenses totaling $825,000 at a 'l.855% for an 84 month term. Terms of the amendment provide for payments to be made in and a 1% penalty for pre - payment. 'GROUND vember 17, 2011 the City Finance Department received bids from various financial institutions above referenced financing ( "Lease Agreement Amendment "). Banks were requested to submit ids based on a principal of $825,000, a tax exempt bank qualified rate and an 84 month fixed rate 'he Lease Agreement Amendment will provide funding to reimburse, in part, the cost of Police -e hardware and software. ity received responses from BB &T Bank, Bank of America Public Capital Corporation and ast Leasing Corporation. SunTrust Leasing Corporation came in with the lowest bid. BB &T Bank iminated dui;' to inconsistencies with their bid causing several revisions corning in after the ie. Please see the table below: ink Rate Terms Interest Misc. Total Cost of Cost Cost Borrowing .nk of America 2.17% Monthly in $64,989 $0 $64,989 month - Arrears; 2% webapp/ AgendaIntranet /Bluesheet.aspx ?ItemID= 5186 &MeetingID =363 12/9/2011 Coversheet Page 2 of 2 RECOMMENDATION Recommend approval of Resolution No. 58 -11 authorizing Master Lease Agreement Schedule No. 3 along with other related instruments with SunTrust Leasing Corporation (the low bidder) as outlined above. http: // itwebapp /AgendaIntranetBluesheet .aspx ?ItemID = 5186 &MeetinglD =363 12/9/2011 pre - payment penalty SunTrust 1.855% Monthly in $55,359 $2,500 $57,859 84 month - Arrears; l % pre - payment penalty RECOMMENDATION Recommend approval of Resolution No. 58 -11 authorizing Master Lease Agreement Schedule No. 3 along with other related instruments with SunTrust Leasing Corporation (the low bidder) as outlined above. http: // itwebapp /AgendaIntranetBluesheet .aspx ?ItemID = 5186 &MeetinglD =363 12/9/2011 CITY OF DELRAY BEACH INDEX TO LEGAL DOCUMENTS BANIC- QUALIFIED NON - ESCROW Master Lease Agreement, Lease No. 02649, dated May 20, 2004; ON FILE Exhibit A - Equipment Schedule No. 03; Acceptance Certificate; Payment Schedule; Exhibit B -1 - Tax Agreement and Arbitrage Certificate; Exhibit C - Resolution of Governing Body; Exhibit D - Incumbency Certificate; Exhibit E - Opinion of Counsel; Exhibit F — Omitted Intentionally; Exhibit G -1 Confirmation of Outside Insurance; Exhibit G -2 Questionnaire for Self - Insurance to Lease and Addendum; Form 8038 -G. 12/1/201 I :BQ- NESC.D OGrev.5 /00le1c % -PbRA ON MASTER LEAst Armit Nr.. A This AUMIVLFASF, -.6f )Aij li �miiae pad e�*tW Wo--V'atd - LEA!ANG C06611AIION is -�Lftd CM OFDELR AY RkAdl FL SUARUSi a., bfthe 66-6iT"t&kct&i1I r�6 c�sidcralt-bn matial. S. PC delivered by Umcvifs-okf 6fid -94�ipffiimt dcliedule-iD6� ';.;-dalivery,iisWbHou and kceo 'fft- C"- imt thigWaswtt�se Wgfiernerit dfid'all Agredftfi ir -meft-W iftmal Rei-Vimm"" . ameicW, j6godikr wiW- . T-rtl�Wy -REghWafis 'pro- I'd W UU)PI, 2*d'd'$V d6atb this Akna&IWA ma-singe,114 Schdb e up . om eac groyp q0pftnt k- --&aoufii isabMiAl�,I:�igd? fiid -UgOd-,�Ath-dw Eser6W-Agmt I;uft�t Caun. jVemis-ft kuipfi2m w4um dn row grb6fijn�'. OW `6- f -a-, c*otpomfio . N. -i�danysu cessattscrowagen mder e acrowAgmetbon -)36dow or, '6�ft-d ib djn-S&tib�2.4.:-,, - Ii—a jiiuji4 :ies� '-pit ta-se, sm. S -pk -up 6' -Secabn -ig I�d- e`of 'the filaXd'EqWpment'.-Om -ifthi pT4)1:em(bS& -d0sc&66 iii -1.4 Aini n'*xdst iig PrbvI e In a. ...... ---Ih6ia4 th6poffibt Of i Rmthl` is and 6�n "ent c; f g1tembfit "a tht Sd"dld ielaihig iihidi AbOber A, i x ft-A see relWng to sueb Equi]�rnmf Group. qffite' a'SCOEirkta tweark an es date*so empa hi fbiMitidl�W�rfiei ch W', the"' d w kes��-to edic, I ti Uasd*TdftW'- thems -Wi tespect.tw.cw -Equ 0 Ith Oi6,ap,-fbe--peri idiiiiAg-'�;ikite re�t'd*d't*e,-a,se-i6* ilf Insectl6i mu ide&,- ma i* 6i affis -putd. t6. 60 t6i�rri6i piyfn e. M.- V.:' Vietwf Iberefibm of pill c6U&Hoit "Not-4 kicoll� bi tb -fa i Kid 6f Ldigee' usisici 6 6 love mim,&, -61r, ff�o dkf� i bi i6it�li ftgdfid/or cioiwl fdhdi;-t'6- fct any #iscal Y-Cat gilmieftt fbithd cb�tWtd peifbimand6 by Lessettfan und& this Ak$-Mi" e,ift" t-AS" evidenced -by d* resaladdii -specificWlyprdhibift Lds�-t F. f W" PayMent .'.for -which - Wsee miy purclia," -thwieliid� -Aquipffik ech- Payment 15ate-aftenTiAing the ReuW Payment. ue oil -so ut 'd Odtsi& Id om if any equl�r&ikto Us=. ja on any fl uY p the-terms and conditima -q 'heW ':Ugs6c "Uhavc-qtfidt i*6 vnd enjoym6nt of and peaceably have and hold and depogiWd'liy'L-essorintD;fttSCiD*:A�6�ShaliCOWtiMet-idan from Lessor td Lessee -i�lf6ti- ~` ^ r• ' • •r: •J. �y� 5,�yy� �;�y{�� .�. 'fir '�• • d'llt MM i'14�1�1 ` I'RiMi 3_i .• Pe tllie Agtdemeht :Date iltitiFaie a ilie'st of (aI fetrliifialitiii (rider Seotioh 3 :2'nr (6) - -tennination under Sectdon:17.2 -61,ne er,•no Equiptiient Schedule's shhll b'e 0xeciifed aiEer afiy`Tton- 'Appropziatioin Ot-EV pi'o'i Defauik' Each Lesi;e with respeo't -to an• Ecjnipme it Oro* mall be in:eif'ect for a •Lbifid-Term commehdng tipdrf the Lease'Date' dnd'etlding' • :asprtrvirleclin3ection'3:2: _ _ .. -. . -' ' SPI'tt�jii 3_� •Tm1tL$l�uh- t�e §a % ;ii 'evctif.of NotY= atlon' this-A aiC and e�di LeasZ'he�emide� sixal] ic�fiiiate 'in . whole;- but'nat id part, as to all Egnipnierit ef£rotive ki}Sori'die lasi'day of the fi" sal Ytw -for which funds were' apptopriat#A -ui the trimmer :and satiject to the ter W specified MA Ids "cle :: t:easee may effect soch•teriri o:n by gi�ino •Lessor a wntted toticb-of terntilikdon'taid by ,;paying fo Ilessor:atiy Rerihl Payrinaits`arid'nffierJ mioutits which rive 'dbe •abd have not been paid avor, before- the -end of its then current :l:iscal.Year."Lessee s]iall eadeavoY to give liofice•tif-suah •termination •not Iess Man'trinety (90) days priorlo the erid'of the 'Fiscal Year'for : which-approprations wer -made,": l shal ifofy'Ressar oi.fmy anticipated tetTAnafon: , In the'event of tmtchbf this'Agreeisitint as provided in`this Se coon; Lessee shall oi►iiipIy with ihe'insttvctions received froiti l essbr iii aci ortlance zvith'fiecdon 12 3.: ' :.• • ::. ; .:: - Seetiiiiti •33: 1ktrc t tit' lib iie9t - '*- VpotI`ji nation: of this Agreetriesit w*ptovidee ,iri Section 3 2, % i ssee•3ha11 iiot'be'respimsibia'#or . thepayri bId'of any additional Rental Payriients'coming duo is sticcetdtng Fiscal Yeats bttGif T essee has'fiat e— mrplied Ah-the ins ttuctiotiti ' '` � • ieseivi =d froth R:essoryti acet5rdariCoiivitii :Sextiisii' 1�,3, the' terntivatioia 'shall'novertiieless be effeetive,•but L'essce"shall lia'f+espaaisi'ble'for the .: payriieni'of daiiiages iri 'an •atii66i egiitii -j;6 the of" Rental Payments@Tat Woitld thereafter have cbiiid die if"' }kgreemetif" "had :" :tot beentatiaed and vbici n of days atlet •altich Lessee failsia turd' ply "uvith iessor's it>shuCtionsttd for ., = : ' ;'`.• `iisy- othciloss' 3itfferedliyirssof: as' aiie&d iiifiiedke' siailt�etotakeSubiiktionsasregttiierl ..: ; .::'J,' : - :.':•r':, :. :.'; ;: : Sj{j�.,'�;� (' grriiiriatinn'iif i:rsiap it print;e use Term with raspect to ariy 3.ease tvili u ' thcs'idf e fiof • , : •folfoivirig:evaritis:.(a) the -•%ritiittati6n ofthis:AgreetiYentby'Lessee inaccori •Iasii;e�vsith'Secfiofi-3 :2,•' (h) the paymait of the Prt�saytntxtt Pr•ti�'` � � -� : :• :'. : by l:e�stti jrinsuaiitfir( iiis Ie rV; (c) su Eveftt ofb''t&a&by such Lease pursuant to Article Xll•,=or ' :: (d) thb payitienttsy i essee•ofe it ecita[Payuicnts diid al] other amounts a hOrizad ar recjiiireii to be paid by i.rx -cc pursuant to such Lease:: ARtTICi fk .4i 1VT'A1G iPA _ •=:4ec4inn'it,.1 r" RLiii9t Pa�m�ntrt :;I;eSs9r sad i.essat; COfifirm their tkrderstanding titid �greeiiteitt ihaY;(a) :ail p<tip Ws due- uiidei-the' Agreement are to be trade only'frol7i :Lessee sr legally `av ble and appioplia#ed revenu6s •from svunces'citlier ihsn' ed vafdzeiti or ' ' •other taxes, (b) ihaf Lessee shaflKiofbc zibligstdd tb .psy'xny sums' fine under the A *eknent from thb prodeeds of ail valorem[ or other +• ", taxes; :and (c)'that Lessee "s'contiactital olillgiitib »s to request amitW u&r6piiations from which`payments slue under the Agreement _ • .'Anay bye- made`.does -riot cotLstitufe ttii :inde#sted>tess pf lressee wititiri -th6'meanitig pf'ati}+ _cbnsdttfifohii vt sfatutbry,piovision or litnitatioli :. :TheLissee Cecs to pay ilia enCd[.Pii}itiieitts due as specitiad in the-Paymen't Schedule in Eit}iiliit A: A ► portion of each Rteatul Payment is ptiid as inteiest as _ §pacified "iti ti1'ayiiieal't Schedule of eecli lease; :aitl tiie'firs't kdt►tal Payment wits include lrtietest'tfCCriring froinVad >:unding —i . •Lessor is iinth #a -IM6rt the 'due -dab-- of the- 'tn•st-Ri a tfti*- PdyiYieiit iii the •Payin, Schedtfle'in Exht'bit Ae .,All Reiitaf hym6ts shall be pal to' estsdi; :o "t8 `suClz assign b(s) i essbs•'bas hssigtuied'ss stiptflatt d iu Aicncle RT, at such places as R essoc oic %such lJi41 Stex(tesl Atbezic fie -W irionedesigtiaf6 available tltereticd rte3;essee :• i essez �iis11•ptiy tite'Reatal Pagmenfs'w�i{h Jawful mon+tiy Hof : %.'' :.: .F- Seeltnn a. -_ .0 W n •ii XM tc �obligdticins'bf Ukse sncIIk its'otili�atitiii`to pay the iteirtei Payiiiimts dua'iti ad y 'Fiscal Year bf a: . '-n t1 Y Lease Tenn; shall Co pstitute a cull alit eicpefesa of iicssce for such Fiscal Year aiul'sliall clot'do6stiEatie' en Rndebtcditics's'bfLessee vihhin f#le rocaninji f the Coxist1wLion and la'O —hf thd'Staie :: Nothing -hdrtin .sball.aiffstitdi6:ii plotige•by-Lesseb•of any taxb or'citiW ttfci%6ys (other :than moneys lawAilty spprojiriated= fraiii'tune to•7uiid by'ar.fbr'ilie'tie OfIf'.6f7:ecsee'fof ihisAgrooment Wid ibiNet Proceeds biflie - . ..- , lrgnipiYitnit) td'the-ptiymentnf afijrRentiii:}Yt�,m� b'c other atiiotint ao�mg" "flue "hcreayiidei. •: '•`.' - ' .- . . � •, ;:'::: � :: =' : .:.. ,,.. • ::: '.- ..SC HnfI4A' TTnrnndl�tL c,��w�; ixssee's'obfigafion :to'�ake RemaT Paymeuts's}tall be'absoittbc atld uncontlitlib ' •also, any otlur payments'recltiire 'liereiitidei shall be'ebWate ataui tsncotfiditiontiL: Lessee shall make these payments V� heti'dtie and shall iiot • :withhold stky 4 these payinettts'PiAdiiig .fin aiiestidutiott'of arty disputes. jlte l,essde shadt not assert any right of set off' ' o r-coittbirlaint �pinst tslobiigtiori id make these'p$yne:�sees obligation to nake Rental Payiedts'or 6k&ayments shalinot bd A6 d accidetit;`.'iitioreseeri citiriiinsianses; :failure :til iitie'EgiliptnwA -p pet•forin As desired, Aamage•br destructi n,io-the'F.gtiipancA f0 s'of' :'. :`• . :'-_ :; :.possession of the Equigtiieni or obsoiesioeittceiif thti Equipment' :I'lie Lt;s --shill tie obllgatbd to•Contiime to•rimlre`payrhents regttirr>d ofit : r : by this Agr{ahwt if title 16; .at tdtiipoiaiy use' of, the Bquip meat of any part thafiif shall be takbn uiide'r- exercise of the jiOWer of emintxit _ : _ ►SP.1 tli.ri 4 i': -f1�it;nir t'n Prwn� ,' essec'dtiatf lr2ve Ihi dn-to ' 'its bb' oios under'an lAse'iri whore but itot in . ont sit pttpaY- y Imo.. Yr.. Payment mate for the then apptieaiil,e PiepaymenfPride (vvhich'sttall includdti pecpayirienffoe) as set %rth iri tkie relayedPayrtientEcheiltile;': provided il}ere has been no Non Appeopttiatidin'of l vedt ofDefaiflk . :f • ���n* .�.�': � � ;p*��� ter' ��++`..- I�`ssee sh'all;gi�e »6ticcto'Lacsor•of its'ifttelitibri #o •t�cticise i>s dp66ti' »ot less `thasi thirty (�Il� days prior , r: ,to the Pgiiiitit Date •oh which•" :optitin:i+in`ll tie eiieaeised sad -shall payto %esstii'rlot late r than such l'agaie i Date' dti ainoiitit'egttBl'tti all 1326 at Psyinenls'idd'Bi6 other ai6,buiitiriileu d le e-or pni due tittil&- t itliktcd 3:easi; jint hiding the !rental Payment dt 0-6ii the PayitiCnt Date on which'flie iiyitioi3 shall lie ffeCtivb }`and the appfieabla •Pi�tpayuferit Pace act IoM in the -related Payment Scheilnla• • In'ilie event 64'. :.v�anebttt:i+ynaoauctraG.oioem 4" :i, ;r'. ;f" :i .r Wiz. '.r•� .,w.z...• ... _. s.�.• .. ..: ..a... , ..�.. {�. : :. •z. .. r... r .z. .., it :' :fir•• .. ... : :I.: �•. :. z. . •.. .. ot'reaeived iiy' s�or ari,su61i - Faymeiit'Date; thch notice byT.essee of eiiercise of s]tali'be otlid did fire rely d7;ease':. rree•ttt58 effect: •1 • , F• � - i.� ccni ;.e tij `prpaf': _�7pac► Yeceipt'o£ttae Prepaytnefit'tidc'iti'gtiod such Egttiprt but Grbtip sliall'fetatinatd'snd Unmoe.&WI bodditie entitled 10 t, a rdli'lrijiiipttieiit Group' AS IS; WIIETtE RAN' aES ; - 1!55 Ok -. �[f'La�D :iNCL,-UD NC, WARRA'Iv -m of 1VlER HANTAwLITY' op, FITNESS :' •: , , :: , Ii AR 'PURPUSE 13R Ft1 N 3S `.F�bR : ]ii8 Slr'GON'T1 :AT ED 13Y tf.SSEE, •.excdpt' that'stich Equipment '. jc ct fa arty lien of i riotunlirance created by or aiisitig Ut'rdugit Lessor. l'R SEIVTi1 TI1�i�iS; i'1fAs`U:i VTIES kW W VENi#NT l' a t�dn^d rr9nd =ntf pn, - Lessee'mpres'etits and `rvarra'cts'as'of tbeAgedineni i>ate aad'ss of �eacb -Leese ..= ate ot` paliticaTsitiadivisioti of the SFat vc`ititin'ttie 4rieaiting ef'Sectlon 1U3(cj of ttte ibodc dilly tlil x g.. • .. �.. : an(l laws bf the Stnte;•ati is auhtorized'itnderthe Cofistittifion.anil'Iaws of the State to •enwlnto this •A i it ausaction's :csiitetfip�f«l �tit:ietijr' and thereby;'tittd• toperFarat "all of ifs obligations •tutder't6is'A�rexmerst •affil each ,.. "'' ui. eit3 '8elvery'oit•t�is•J1;grcEineiit �aitiT•eacii ��,e>*se�Jieve beett`iiufy authnrizcd'by''alY rte'cessary'2ididn:iif J:oS'see's teF� at fidti is in.c0iitpliance public bidding ait'd'other' iiitd federal lar s applicable iatitis 9gieeiit�att, t ach ion -inn i`inarieing vl the quiltririettt by LesseE. - . •::: ::::.:: :: ,; ; : " ,: ::: • . . :crit xnti'eacki`.Lease have �beetf duly•executed'siid rle`livCCtd by acid ;otmsiluites t1iC valid and bidding obigstiaii'of irist T:essee ii« ccoiilancetfritht licirre3iectiveter►iis: o ;'deliuet�%Arid per ormatwe of this Agreement and 'iii • Lease -W1 see'slial[ nor(i)'wdlat�e at►y or %deral•law; State iEi ; or orddi vv[i »t teticlio ' ^ 6&&-, or rd Iatidit' df a * couit"of other governmenm ageitty or • . ; body : ' r (ii)"cortiIiat'tivitii orresttif id fife breach or violation of aiiy term'pr provision of, or constitute a'' deftitilt' under, -any i »dentin iie;'dgr ireiit; deed tif'fiticy:lease br other obligaiioti i6 whkb Lessee is b6mid, ekiotC,'�irit,: prbc''eet3iitj� Ciaitri inquiry' or inve�tigaticrn',.�t law br in agility; before ar bq atiy catiit; •tegalatory figeTa:} +,'. :eztdingo fCic lieu siiLessec s icnowledge;threateacd against o'r afFecting Les' see, :chaileztging)ressee's authority i r xnettt or airy Lease gt arty oilier avtion Wherein anmiTavoisble Wiling Or finding would adversely : •fiffeat tfie' : ; ::.::: �gteetnerit at 5ity Y _ ttal: agreennenf, leas piiECitase agt ent,''pagtriart agrecirterit or Cohhad for purcltase'ftl'whiah tdsee'W beett'0 n.the palstteri'.[1t) }' jeaifs Has be'eii'teintinatod by'%ssee`as a nas►i7t df insufficicrit funds beit►g alspaopriated irr' arty . t hai'd&b iM ;tivFiicN wna7ld ctiristitutc ari evt itf of defettit itnrter arty debt, revenue btinci or obligation'which%es ^see lastteu ;In)yeais' `' mcefs'goveiitingbody has appaopnated'and % r faker oilier ii%f&l a6tioits•tiecegsaty torprdrnd" r � • • ey s - • vfficieal: "to e tiabii s z ' xs dutiug-'die-cttr 6tFW"A Yeai; and stitch moneys will ba appiied iii aymeittnf ail R6iital Payriicnts titre acrd payabtr SCSI ji'iar,• ' ' r' ximtnediiifeiieeii far;.aiiill� tatitake iio�bricdiAfie'i�e of,:theEqupxteiit vvlrich•rieeii is tioltemporary''ot:cticpecfecl • � " •applicable T:Fas "e'`Tertit:: Tx3see pnesernly infinds •W' cotitiape :eadh T.eage-fier+�tudei'' fox' if9 irit'rlre Lease•Terin• grid to • "'` is r�latid 'tfieieta ^ .. r its of r Js :I;esace agfees that sb•']oatg Js itny iti21•Patyidoiits tfr n{her itntaaiirs'tloe itt�der this'A f greeaie6 #i�6ttinin AMA iristtill; :tree; ojierater.oi noairitain fho Equiptneiiottapivperljr; earelc'ssly, ia' Viotadon of.an}+ applicable' law' Vii• .r; une� �coiitrary o.'>fiat tontetriplated by this •Agreeetiietit:: I:ossee shall ttbtnin •maitifaitt' all �peimits •arid 1ice3rseA '• �lation'iiiid opet`atiotC of the £gi»ptrtent'. Lessee shall ridgy t4itiiout the ptidr written bonsent of 1:essoi; affix'or install tent at'device on gtiy.o£ttid:)3quipmentif such addition�Wd:etiange or-Impair-the ntigunally intenddd fimHoM r Provideressi. s'at-all*reasoiali tirnles 1v'exariiWMa'is * • ,•tthv -Egri P "rAWt and jt�nvide Lessor' it$ ?' 5abrlt': r= ' Mt as -ritay ttiainteaiaitce :Go the-Equiprnent in•'the'•cveat of failure by -LCSSt e'to : herietrndet:' - _ not, diteetvO.- indiiiW- -Y,: create, incur 'adaunw •bf kff T ;etttst ally attortgage; pledge;' lien; chat ^ etiitilitancE or e; eri ttto'tlie tgupittent; •tither: thim the teioeb tive rights of Lessor and IA066 •as-hercin' provided::' i ass shah ptbinptly; . w-S1 if ia6s* s may be iiects'saty duly to'ditchatge- Vi 8tttove Any such -dhini if the same shaD arise ai Mytiti E..:' Lessor fo"r any eicjit use Inditxed by Lesser in- order to discbir it or i 6nove aiiysuch °olairii '; ; ' ` ' rt'entity'iii.eliArge Qf psepetirtg Lessee's budget wiU'itichtSe'itt`tlre'bndget t far �acli Fiscal Year'#lie l3eutitl i.'.:.- ue dicingsiich` iscAl'Yc f; aiid tivi71 tie all reasonabio acid lavviiil i»eahs'available bo sectiic the' '•; appropriation, - i'eai,siriFiaerif iu'payliital;Payiiients aiming' duetliereht" 7essoY :ackndwledge9•thbtappmpriation forRci1 iraital fnridioil wiuCit Isee'carintit oonttt3ctaatiq cotritiiititself itz iidvatice'to perform. i:essce actmowledges'thaErhis' oustifute suCli cotniiiitrisertt :' �iowtoef,'LeSSee rea3bttably belteves'Urdt iiiditeys in as situottht ivtTiciettt to iiitalce''al! )43' , _.. _s. -, ..... ...� ._. _..r'._, -... .... _ ..... ..._ -...• .e.`.'':' ._. _......�_ _. ter'. die:; %r r'.:.:::ra'' �.' ... �. .:i+ .. . _ - - t :Bcntal Pa~ cats caYi slid'�v7i la�vfiill' lie a• ropnutti d aiidinide availAld 6 chait lessee's ccsti6riaoeduitrtia tiori'rif the pmeiit`in tl>d; i Y6i Y PP, P ' perfouYil'anncii 6f its'essential functions daring t>id applieatiIe T.r�lse Teiinfi � :••'` • r j .. �(e) ;: Lessee' shal lassure#hat'it�.obligation•'tb` pay'' Ji�iffall' tayriientsfs• no' E:di�etlyoYiriditti;ctlysociueil liysnyiiiiere "siia'piYyperry",�nther f ` .. ••= �thap'#fie'Lquriprinerif; and thattiie 'itental•P�y�ii�ifEs'wtil:nutbe dmectly or'iiir7icectlyseaiub� by o� deri��rd•froiii �fypsycnents of atiytypa or ;. any fci»tlotfie'tthati.Les�ee's geujeitil piiii'•Qtise fend •and tkiiat the iteiutal Paymentsvvill itotbi;'directly or indirectly sedured'lry' "or iierived &ain • �y piyiztbnis r�itts'tjf type ather't>;ati f'ro'rYffEte ;<, es5i�i ;'s'legallYavailgble'bnir -acl tialbrem reveiSiies.:-:. • • : •- .. r' r .. , • : •r -•' •,:: ; _' = •: ' •::; :''. :(t) ••:y�.Jpon L;eisoz's regt�cst; J�`ste sYiall.prbthde •Lessor v'viti� aunt fiir$iictial sttaiemerns; budgeYS;` an8 p►Hoi bf aFprapklatibn •for'tf�c': = eiistti�tg PitiC81 Xeer`and iich othei fittaricia1:i�if ti6ir r'dl9ft to the'abifity bf J;essec to contiriuii finis- Agreement'and caeh,Lca5e as'i'i►ay -bet ibly14ested by ]:essrtr: - (g) :'l essee 'shad promptly'iind 2Tuiy �eaitcttite'�ii3 de'liverxo' rstich f& 66f doW&enU; instniment,wid assurances tfiid'takersucli': • :; furtiieractia !IIsIisdoriiiay'.frc'm•timeI&nine ' inas6 Aftbly-reque9tin•order:ttl'"`d'ut'thc:inteui• mid 4nuposeofthisAgroementaad16'r, :establish and protect the dgbts_ltid temedieg ig'e Odor' intended to iracteit' in'favor'ofLessorhezetrAder. �tate'1: R�p i '- .pif9�;rinjy!'W�rilnfips elndd'nyni,an '`.r •? :: _r :r: (a) - ltieoiporaii'on'nf Tax'�igfpemc�itarrdi4t+�itrzr e• Cerlifi 'cate.�•M4eacl{I:cascbate aiid vi &'res pest eath~%ase,'••�,esset 'makes' each'iif the- representations ,- �v2'rrtautid4 and cbvttnaft cWthifle it the Iii A�eenrent and'Arbitrage Certificate'�e]ivc�il wiflz'. ; "Vecr #o much L ease::Jiy' this'it fetent e`each-such' ti Agt rent and Arliidiage b6tt cute is'i&6iporated in and made'a,p�tf bf:fhis•Agreemetrt vent'of P azabitity' 'J %- ussor'eithtr (i).it fives n6tioe,• iri airy focrri;:'ii oiir the Intetr�ai Revtatie Service'or v�'teetsonably` • -'ask tiiines, ha.5ed rot► an :opigioff of independenfW cadnsel 'Wccted.by Ldssbr,-that Lessor may not exalude'atiy'Jiiierest paid tuider uiury : r ;' :- Lease lirid4fs Fedeial •gross inctri>e (each ail "lrVest'of Taiiabitity'�;tht'Lesseo shall pay'to lressorupitrii'derimand (zj ail arisCtiiitwhicb; with•.:' :`r, respeEt to liEniai.Paytnerits previa»'slfi pain atid'takiiig :into' accoum.ail penalties;:irnes; .iiitetest and addifibns fo tax-(iiueliidirig all -fedeiil; state iricl lcstaiI taxis", ou #liTntecrestdite'tluaµgh file irate of`sdch'et+eii #); :will:resto ne to J.essor its'after -tax yield (usstimingtax at flie : : r ° :' '.ttigitesttt5srrginal tail mateatid' takiuxgiirioaceottttt 'thefittte6i'ieetipttif . - Rdiital�Pa�niieats and reinvestiiuent at the 'afltt•tax yield mto)'ba' r lilt tYatLSa6tiori eVident:ed by guCli I.ease'diioiigh dtie daft "df soot everlt'an' (Y)'as `additiarial Reistal.l'ayznenis fo I.essbr ari estbb succeeding fidymemt Date t dch tunouitt ag Will' itraiittain`socti after =lax yield to ] ott, j.• ;`;' AR MMt VIJ :� I+ISTJItA,`uC ANb iiisK:oF SS' :Cectiiin 7:r.: r.inbljjj� hd PTnn :ternranc ;Yresste shell; arlisb vm'i;Rpeuise, procdre-etid muii a[n oodbigiamiyirt t fl`eci during eaoli `.' %are Tent.- (dj'p"d liability insurltmce for dWfi'dt injuiidg to p6tsbtTs, hz daiiiage tb preiperty arising out of or iti anyway coiniected•to : the Pquipaiealt aitfbdient tb protect' Lmo`r•an or assigns froutt'liability iti:all gveiits; iith ~a cr�verage •bf.itn #'le"s`s`than 51;000,4ob'per ' : : ' occtnizna� tttiiess sptcificii diffetr~tttly rn 1ie reTateil J�quipfnent Schedtile;:asid (b�iiisiiiaitde against sucfii haiairds as Lessor toffy require,• including;liut not' lirniW to';, a11- i k'casnel -'' and u�svraa at alt attsobnt' to the aver' of the full to laadient cost' df rite '.:`• -' ty PertY' ce; equal We P .. ..::lrquiptiieril; oi'the a}iplicatili:•Prejiayitietiat ifrii:e 6feaCh`EcjuipntcidGrbng :� •• : '.: '� - ..: • - .:• ; � :. �SeM inn •7:Z:':Wflilt�4: TAY'.'. i. iHlljten! tatiAii `ImiiraitE�::���'rocjllired by'S`tafC :'laW,.LeSSCb 3� t�rkjr WdrkeB' •CUlrip6►161t1D11 lI3SlU'anCC GOGLYItig ' -f '•, �r ' ' :all employeea��oit; iri,uear or•about•:thc:)rgailfinent;`aitd upon- regiiest,':shnll�firrrtish tri •I.es'sbir'certificabes evidencing such ' coverage•` -•� -; •:::;:':r;: tiiutingF►oatihe'l ease" awe iSeetiAn7i4::X•ea 'rnSiiehr "r ttt:AnPs$Pniti '� • • : ;; : _ - _ (a) Irrsttrmide Pullr ies: `All:insurance'pglibie fegiiired'by this Article slialljiie taken oGt aricl r#rairitaiueil iVitli 'ir�i�irauce comgianfes~ "acceptalile to i essbr '•arid shall •OonW i 9 yiro4is164''tiia't thirt OO) tge m the coverage the °uisu ei mat provide W ttth `notice to •tlie•itis md'*ks. _ Ito- IngUAficirshailbfe' u jtet to ally* coins #Mbe clause: •Each' insurance policy sltall•naYne iJesfio'r andloP ifa' assigns ' as nil aHdiEianal insured peity. 6 •toss (idyee regal dltm •at 8ity'bi eaol pf iivat ratitq" of other act or otixissian ~of i e sec zltud sl>a1I include' ii _ldid6t i:loss' paiyablo'eitdbt aeiYUetif f& rile Benefit -of Lessor W&Ot is to the delider'y of EquiptnMA, _Lei s6a1L . - 'deposit:iHifliiesear evidence s'atisfaebtrry fa lessor of such'itisufance'and,'•prvor ;o the •expiradori thereof; >;ball ptttvide'Lra�or evident;b of all renecvals'ot'tplacerzuenfs thereof ::= :.:' ::: :'.: ; :: ":: =' " :; ::: ::: r• - ; :. ; :. • :..:: ` r,: ,::r -(b) ?,Se f liisrrrunee. With Lessbw'S prior' cdh9m l essec'a>ay self insiiie=the� lrquiipmanE fly means of en'arlegaaie'irisiitaiice'fiuid set asida iia iiii iritaiaed for that poiposeW, hieii_-Ii uitlre #'oily described io It let6er deliveier7'to'.J.ess6r•itt form •ic iEpfable to iesior. •- -;(c) . ' Eviderlce'tif IPrstortPrce::`Lessee s1i$lI• deliver to I:es Wvpoi; acaepta&d if tay.Fgtriptii& tr dderide-of insurance whibb'earioplies' with,}ttis :Aiticic':VJI ti<ifih -respect fo:sciali P iupituelit'to • the •sari 6d6ir.:bf l es9or; :inCindiirg;'withnut liroita#ion;:the eotr6rmtdtilon:af ' iry3'iit�ancb iui the _faritz &Exhibit G 1 sitac)te8 hMtto'tngetbdr with Certificates ti lnsuiaiioa,.wheh evadable; or- e•Questiotirniire'Sctf Self-" :' Insuratioc'aGtif Ad�eitdam to Egaipineni'Seiteiiiilelteiating to Self- Instirande'iii fire term of Exltibit r', -Z attachrci fi&cto.•as applicable::' •'• :: Secf m 7,4;;Jihk of Luz To4he extent anithEa: by opplicaiildltivit'df tbt: State; ss betvoeers iiessor amd Lessee; Lessee assumes ill iislyd - • _ � aiid'liitliilitics from any - cause whatsoever; .whether oir nrn covered by if+sitiancae; %t< lbws nr datriage to any Equip�riitnt and for'injrrey 3n or .•• •.:�_• • _ = deatl�'vi: attypetson`csr riamuige'fo anYpropetiy::- Wh'eHtiet•or not robcred byi'instiraifde; Zes §ee hereby assumes resptitiSibilily for and agrtes• . - . :Eo andeinrtify i -error from ail•' Iialiilitie. 4;. dbiigsEions;' losse" s,- datfiages, •pcggltiees;;�claim"s,'�Ctians, costs and expeuseg;.incl►tding reesobalaie : - - • et'tnrtieya'�ecs,•atripbseii on;•itfctitfed:bj�'ds.iissbited against i,essor that•relitEe��to'or,irrise'outof this'AgXeemeut,•inCluding butnotJitnifed to; • • :•! ._ • �; {a) the s6lcetitin, matro�actniie ; °puncliasc;'a'cCeptanCe�ar rejection of EgtiiptnertEof'tlie i3wyieuship of tito'>ugaipinent; -((li} the iieiivery; lam;• � � - :._ posses' sion;- riiairiteuancc;''► tsa',•: boaditiot;'reiuuii�oY•opeiatictn of She'Bquiptuent,:.(c)`tlie • asnditictn''Af the °Egnipatent'sold 'ihr'bt9efvvis�= •:' - -= :disposed 6f after' posseission bjr s ,(d)* the xcsi A act iii Ltriisee its o_ fiieets; ti- tnplbyees aaa agerrts; (e) a Breach of Lessee of any'bt i - - •. 'fib � - _ . S /r4Gi4W:P1•Hq- ecaCDOG,rr :DlodaA - 'rt• ;•ff. 'r : • caiieziadti -O -obligetiobs :hd , iulor, • loss; •eost of expense iAvolAng,a'lleged :ftbage Ito fhi;' en«rbYuiien�t i elut#ti "t6':t1 _EgtupmeYittthcluding,:burttot 1 "tmited to► ins+esngation;:re'MiOval 'ciciunip'oiui Ceriiediai'oosb,ifi3.(g) any•5fria- Nbility uniier'the:lawsor judicial decisions b£ any state"ar the `Ciriited Sfstes:'This °�frbvi8ion shall sari ivesie teitinisiatioe'oftliis Agmecnen`t .; s - idwi%y i 4U ctf �i?tinn Yif rn'rrt,ime�5't::i essee slitAl proviiie'acomplete vvril#en report'to I ESSUF iiaSrYrediately it}ioit �ttyloss; theft; :::: "' : ` _ r: ;? damage or destroctibtl'of afly F4 prneat and of any accident ft ol,& p n jEq u(cpwea' : Lessor may inspect the �quipiiient at arty ditto and', frgmitiirieatetimeGuriggregularlaiisuiesshotiis :Ifa11tikiy of the Eq) 4tid6ntis• sttIw;l ost, destroyedordartiaged 'i;eyetidieptrir C DariiagffEgiiiptnent "),:Lessee 1ia11withiti >bi y'(30�'days etlee such abe t Cith'er {a)'tepiat a the sitme of Y essee's sale eyspetisewith''.: . i equiptrierlt'lraving substatttiailq aiiiailai'Spati�catiotis'atig bfegnAliot`greatet valirc'td'dte Dattrageit)gilaipmctat iutmediately pribt'to the tit7ie � �' :° • � ; • =•. -' bf the loss iSCCOlierice; such'replarxtnettt *iptnent iot1 subject to Lessor's ipprovat; whi;rei"'srich replaceitient tquipmenl'sha1t }ie :: ,:.: • : :: ', ...: substiiuterl in the applicable I.ea §e aAff theother relaied'iloCvmenls by atspropriate endoisemettt or amendment; o'r (b) pa}i the applicable ' : :.;: , . fTrepayatent Price of the Damaged E§WO ierA dtei vied as set forth itf the ielaiod Equipment Schedule. Lessee shall notify Lessor of '.Which routse of action it Will Make wMiuTtfteeia;(1•S }-days afterthe los "s orcurfencit':Il, v0itttin forty= 5ve'(4� days of thi''Idss bceurt ; (a) I.e §see`faiis notify izss6i; �h) l esseeand Lessor Fai3 to eitee au arineoidriieit't'trf the applicable Equipment 5chodule t6*16e the " Damaged Fquipiiient attd add the "feplacirricnttgtfiptinentirr (c) Lessee has'fail6d'' payfire gplicablioPnepayment Price, then Lessoritiay,:. " at its 'sOle'discietiort; deCteic i}ie ttlioable Prephyineift Pricy of this Damagedgttipune5rt;.to be itnmtdiately due'and payable ;The Net Proc ds of in'stieaitre Ividi ii sEiectto the Damaged Equipment'shalt be strode aVeilable b3' Lessor'to be applied to'discbarge Lessee' - - •' oblisatiiiti .puderilris-5ectioii.s ;;; .. ::kifi `1✓ ya O'i'HLR f} i,1(GA'I U] S'iDF LESSEE' - q yetis;, ll.:ll78iakt'>iahce of tnpnt :Lieswe shall notify i 3sdr'iii Wntiiig prior to inovitig the E iiipmeiit to'ariothec adclttsi;s`uticl �+ ' shall otherwise keep the Equipment•`ati3ie iiddres's'spteifred in the related FgLV ' Sclie6le:' Zessee Shall, ai'its`own expense; inaidain _ : the'Estutptnerit iti:pmper wo'rking=Arder and all. iiaake'all necessary tets'airs idd replsi�ments- t6 keep dio EijuSpttieait-in such dmdition' • °.'`. including obrripllance•,wii3i.-State •and `federal saws. ° Aa�'iuid :all replaceiriCrii';parts'lirttast be . free of emurnbraitecs'stsil liens: All •snch'' :: ieplacefira t•patis and'acetssories's afl :be :tle�med'to ;be incorpt5lated'_ f&iiediaWy"into and to cnristitutc pn integeal;pbrt C*5i •tif the .lrquipmerL land' aqsuch; shtsllbe' sitbjeet' ititlieter .'tiisof'this'Agieenteut: =' �j�' - • ;'�Srs#t�t: 2 ;'f��: Lessee shalt :liay`all la'xes`ais9 other charges which "she assessed bt let+ied against the Equipment; •dte letttal i'ayiinents `• , :E c '•. or any part there6f bf iuhicli Ise'WiMdir —6i6gtheT.easn'1`e* rovhethex assessed aSaiusfl es'see or'Le4soi,'e3:cept as eicpirssly1it55itedby ''• dais section:: Lessee •shall .pay 'all�titillfies "strd':other charges -intiurted- in':the bpctgtiarr; tttaintenance; use; :ticcuparicy and t5pkee --` f the..... Equ4iii nit, %etrd all-gpediai :assessaiehts':aiid :Cl aibes;laOklly•made -•by airy •go'veivriiehtil- body-tliat -may be secured bq =a tiers olr be _iquitptiient':::1 essei shall ales be Yegiiaiid •t v psiy' tarty fedoras; state or local incosiae; ;sitccessiott; tiaitsfer, franc)}ise; :profit, •excess profit, , • . :capital stoc7c; gross receipts; ;:ctiip6iafe ;'ar bthcr similar tax payable• by • Lessor; its ;successors or assigns,: utiless such'tax -is -Made as •a substihtte'fdr Wray sae; assesstr5erii:isr charge which is the•obiigaiiun of Lessee futtiet'this Section.: ��nw it .:: dva n a If>;esseti`stEaill'# il'to'petfoM- 16q of its'ob gatidits'ufider ibis Article; Lessor tiiay take sncfi action 'to enre'sricti ' faiture; inctudingtlie acivanot'aieFif of itio»ey, "sari I essee shall be obligated bo tray all s'U advances on deittaritl nth interest at thrt sate of '` s 18 %per itntiitttt'of the ttta7titiQUm'rate peiiitted by lsw, whichever is less; 3ro�the da6e of fife advauce to tbv dale of repayment ' .. Crnfinsr9:1: • :a'id '; Du i4g the - Lei ' -Term; adunership acid -legal tit16'af a3l.j:quiprneiit ions all ii plat:ezire ,'- iltiistitd666g; x0paiis slid . .tnodificition'tball be its Less& find •igsee shalt take' all action necessary 10" vest -suclr bVnerslup' and title in Lessee.' Lessor does'not awn .the P.ijtiipiitestt' and- by ;this'AgteoiriexaY sad each Lease is riiere]y fititrttcuag•i$t aoquitioa gf such' egttipnt>ent for i essee. • i esstnr'has not :• . . been in the cbairi of title'of the Eilitipttieitt, tides iki b0e:614 cOf fttol or have .possess &-of the > gitipittetit aatl h0iao:control bvar the Lessee _ .,' 7ir the' Lessee's operation; thsd;:st6rsrge oi•'iilaio6cii$nic of the F.quigment: • - : -J' •' provisiaia's ieferbncing lessor having "a secur`aty inteiest'm the Ertttipliiectt atei�ereliy'c8ncelieii aiidl _ :shall.tiot-Nave'any force are ef:' ;.liessbr •atid:fessee agree that the•Agcreettitnt does not tesult in the icreation of any'lien; charge,: ` poti security'io'oher-icun s ti file Equipment or any outer asset of Lcss'ee. Se�Hnn.9'Z::Arlia t, tiij}ti t$�Fd L fi ttioa: essee wiU not; without the -pnot pvriach consent tSf l essbr,'•.af, is :or' install "any accessory r' ex([ilpitaatt or.devicc on.atty`of.the'.l ; quipmeri! ifs ucN`addition vcdIl chaiagc of irfipait'tlte miginaliy intended value; fhmcdon of rise of the •: ':Equiptnetit,:= _ - - • ceettmi'9.iI:PEi ca' a1� 1 Prnp�s!ty, ;1�iegaiprzieac as'ettiii shall'at'sIl fifties be siidse�Yisrt ; : ' offal and clot fur flutes: ... .J. _ _ .. pets prgPtYty" . -'' title tn_t: Sploi+tinir of t? ent''. jt V'eiidor and a11.d � etit'•bave.'beea`select • :. It--a Egta pni` by f essec: ' Lessor strait tia"ve n6 respons3ility in cotaneotion yvith: the: sblei�aui.d� tht'liquipment,:the; bYdCYUag'Of tJte Egiiipmctit;'.its suitability foe the nsc •inteadetl :- i l: Lessee; rise acceptance by ay W* 8r'its aalet sops esentalive of qtly rider sutftuittied, or airy delay or fatlttrc by s A—V. di & its'sales representative fobte=iufachhre, deliver ar'instalf atiy Equipirieiit for use by Lessee' : et+:r.e t n_7 y¢i,;ini'�'wgre;iiit; :w orliereliy assigns t8 ie"sseo for•an8 darutgthi relat6d I:easc Term, all of its idif if,:'if smy; ali . Vendor's tics „g►rawniees :artil p eitt'tridetiinity'prdtection, er(p �te or implied issued on anoplicabie to an14uipptemt .proup,:tiiici' :. ee my obin tio cusonaty i *C- d•fuiniihM in'obihteed6h *itt•such warntis Less dad gusiittttees at Lessee's ezpetase.. L essor laas'tto • .: �• S/ N. ilDOlfiiaQ•M1CflOtlleY.i�rt{:5�� .Iir - - •'� •''_ . ze a15yVeAdur's:waitaniie5'dr` obligations: oft behalf ofitself of 3:e�ssee: _ �iaatgturei''ii# VYar'r�tt� ::" iSEE ACKNOVi►1. EDGES :7 iAT :Tf E'}?QUIPN1Elq 1`."Is Ol"' D _M.413L1FACTiiRE : SE[ LCi'SD 'BY : I:ESSEE '' : _ L1rSSFI;' AG`1W0 WL)uDC'rES -71 * T -ff ; LEAD' 11M TTiOUT A S15'CA%7Ci~'pF L1iSSOR; i'[ S AC3 S OR ENipLOYEES.'.LF5SOR 1S NOT A :-MAN-MAC3i7RLR 4F YT Olt : A DEi4I R::IIV Sr1MILi4R EQUIPMRi!1T, `ATgD 33OES •RIOT 1NSP)~C."i' -TJfE' EQUIPN8l1 B1 FORE' ::.:::'• - XSSI?E..LESSOTL 1 A : .'. RItANTY 'OR R P.RESENTAI ION, ETTIIER EXPRESS Olt D&LIE}; aAS'q'O 3SIGN, :CdNDi1'1i713; TQUAi.1T)r :bURABII.M,-MTABII,1'I'i ;'MERCHANT-AJBKM OR'FTlMEE S EOR'AN-Y URPOS)B OLi FT'£1;T9S9 fbRMM USE CONTEMPLATED BY MMEE•OF THE EQUM& NT,.OR ANY MM ".= °': - :• [ON OR WARRANTY•.WITH MPECI':TO THE F4MPWNT.' ;1N NO EVENT 'SHALL USSOR'BE LIABLE ;IIOENTAZ; i OR' OhTSEQiJEN iiAL': DA1vIACiFsS''.I1+T'.'G�O?�iNP.0 ITON I WTIH -OR •ARISING 'OUT OP THIS :ASSIGNM�N,f Ai�i3�'S(Ji4I,�A$INO` ': %' .• . •- -s� �*��nrai #,h,'y J i�9+1M_'� Lt�iSS61, Vi}IQ]Olrt L.eS9e6's cbiu�t,'in� j+ assign's�iicl fieassign �It bf Les§ fir's rigt�t,`titls �a'rid/or uiierest -;' Eemetif or aby Le�sse, idciaditig;:liuf riotlimited to, the Reiital.l'ayfnettfssnd other ar'nbitftts- payableby'L -tole andtAl sor'a uptxte ©t; id 3ivlidle `or ui.Tiart "w one rir'more dssigMees rn svlia "ss "tgiiee(s) by Lessor at any time. ..No such assignment swl lalnst Lessee• unless ;�iid.tithtil: writiieit ntftice of t6ie'as�ig�4inent is',pf+'ovi8ed to •Lessee: ; Wlicsn• ptesemed with •a aotiae of ': �' �' ' ee �vt11 tidkttoduledgc in ihrrit[ng reeeipt.of'st ch•riotice fof'the bbiie6t of Lessor and My assignee:•:'Lessee-khall kcep.a orals retroid of all 'sack assigtiincitis. • �•: `••, ..� ;. ,.: • : � • ;::� -".•.: ' _ .: `. • ".: ' - :: � - :. • • • • ".- - • - : � ;� .. ; :.:. • ...,, ,• -:. '•, c�Ia�iinPnt •9+,'R,pQari� v l Rep : Tieithei tlu`s'•.gteemtrit ntir'ny tease or'aY►y lquipment at�ay' be 'assigned, �Mterred, pledged of tt>rSitgBged by'Lessee ' .EVENTS OF'MACiU AI &i Mhftl)MS: - deti,ta of DPfatiit Dom- ;Elie' booiiircke of anq of tiic'follawiiig CVetits shall consti trite $vtxit'oF Default ittiaer this ich-I else......•..;_.., r'; :'.::.::•:: : ^. ,.. : .::...::..::...•;••.:: :•...: :r.i':`.':' ::,.' fafiure to jxay, � 3lltii'tthi (IO): followtiag the due'darte ttieieoly airy Rental 3'ayiiterit rir iitlier'aiirdtint'regniretl tb be-"'.'."'; �'•' her than by reason oTidorrAppropriation), . ' • .. - i fa7are tti'mhintaiis'"susu'ranW_ requiieii by A iticie VI[. e'crrce]5tioii•ofrhe abbve:olSirses'(a} & (b },Lessee's faiittre•tid pdrform di•abideby ally coridiGon ,�ggreerrient'arcovenaitiEfor ;;:' _ � U)' days ai3er wriit t nonce by'Les'so'r to Lessee specityiir'e*vh lnihite and "esting ibef it be remedied, uftlless Lessor-' : ' ring ta•ari eictension-tif :iitiie'ph5ar tarns expiration: - . • deteht5inati6iitluit gtiy iepresirlttation br'wacraitty itnaiialty ssee iii' is'Agr6i6h tit Was untrue'in 8d9 iui►tenal res}iect f this Agiibewent Dr army ikulpiuent tiirenc�•of an• Bveot'of Taxability. � ' � '' - J ' ng of a•petitioii'iti bahkriijiiiry'•by of tigaitisi I est ee; �feiiliita' by i;es'st a prarriptiy'' & lift a* of. - 1► eonstquetict s'tvouZd i»ipaif tliid ability of Lessee tti 2 i °on'fto governtitental functions at`assigmnent by Lesatt' . r ` ;dfiors, or the gitry Y' L,esiedinto air agreement or,Wrlpausitioa•with•etbditbrs, or the approval try•a caarf bf coinpeterit'. :*. . = - --i y'adjusti7de6t aT indeb'tbtliib'ss 6f Le4see,`.cit• #'ae dissoltitioti or liqulijation cst'- Lessee. -� :. • � -:: , ; ,' :::: •:: '•. • ....::' • • . • . , . :PSltrrlipa'iin ' rtitYfsa'It ��� #lie�eiieut'of itidault•fiy Lessee "under'the Agrceint:nt, Lesso'r's sole"iertiedies slial►be�bo sue' f•: _ iensatory datitiige's;:Whid I esisee agrees to pay and whiclt"are hereby agreed to be the Prepayment Price applicable-tt: preceding Reiifal- PAyrriisn "t due tints; as set forth on•thb - kyiitent:Schedule, plies any•Restal Payinetits -accrued —Acid—i. 9aiis ddfaiilt,:pttitvideil ttlat aa'the EVent that Lessee voluntarily tetutffs the Equipment to Lessor to•a•loeation " ecifietl ; : ssee's soleiisk; cost and a0case fdd•dn the c6ndition'required by Sdcti6ii.9.1 of the Agrecraeiit; Lessor shall not have ; edies againsi'T.essee::;h es8tir shall plso hawi'the- righfi LA-if evM'of default to exercise any other right, -remedy or '.inay'be :avai[ahle'.fo °ii; 3hlcliidiW withtrut •liinitatioti " ' idfif' ' by appropriate •courE:acti6n •to rftpiie :specific [` any pibvision':bf i ie;sAgreeitiettt:other thud Lessee's Cbvenaiat •to'xetuin posse§sioft'-of atnd•title to -)he Egtiipriaerit; : ' ' shall 'not :bt• sfibjFct to i;Kfoiter bit by specific perfotnIancd:: ;Le ii' AM I •rimAin- able •for all -legat'feeflind -othr gss;'mchtdidg c6tiit iiiit tB;anCitrrBd bi Lessor in the etifoites rrietft•of its remedies underthe Agieemetit'except k the r a by the 'Coastitrytl6o'ged laws' of the Statd df Florida: ::: ;: = -_ `'; ".: _ ' - : • :; ; . • : _- : :.'..: ' i. i rri:nMjNj� ebj:: eji;kv -df VecRgeIs Utpr -Wit# respect {vAny prtivisioit of Limo Agreemeftt require i�'I:csi to portion of t ;"Equipment'to Lessor or to transfer title to •iilt rir.asiSy pliitio>i of the c4uipmettit to'L6aor, Lessee' agrees ' o'so:'Iti flip eve; ttt 'ttiat:Levsee;fails• tot -refuses to- ietum:dt fr`aiisferthe•Equipment orsitte'thereto voluntarily ;es 1s6r a#olinowleiiges tbat'e'34gieeinerii does riot aiid shall fitut't:ictite a I Fin Lessor to•ii voltiatatiiy dispossess L;dsseb'. .: ;session of all itr airy itetii bf the i;' d mierttr -in lieu of sU& tlgltt'I:ejsoi` shall be entitled to and Lessee agrees to pay 'than.g8 vilaei or diately,•hut-onl • froiIr'mi's'•1ega1ly$vailable -ani appropiatea Yi, ue §•from sources plher • '_.` ,:: .: Frepayriient 12zici apFlicBlile'lo` the 3mmediately:preceditfiReaw Pxjrpierit'due date; as set Earth on the'I'Aym ref''..:= MY Rental Pay a6iiiacortteditid iinpgid as bf *c. dati of sucE'payintut':.;':. �.:' right td ttqtfifo-liote p-gyrne"r R ch'a-rigo'l-bi each Ren iid or any 6thii abunt, elf, is is not pSid 10 days to the lesser of Sb/.Vf;�i&'J&Wp.'Wpn49 j. er d6nigbAW&en ma. a party 'ciid thekbat its iLd ess*' - .AdWi1j, _'Aiiz --All writtefii(iilceiW��rrxind IsA" cified hereto in wrjfin'S"ftrft1hYWtd'&fik - ysUch . ii . ou . de; . -tWl -be'd 66ft" 'n to= after deosit-Ini".6e unite States rnaH in regist 'oicdiified forffi;-Wlth gia" iiis Aodii&611vand each' Uas'e tbieivider'601 foo'bMi9 din"' 'Upon iW shall inure fbItbe ;see -and theif t*cciiWSiicaai6a und ..fka •1is6d jW4tf0he. t6rM.1'essor" niia"t ady V*i err entity to:`A6iii. �G isor-Ifis p6dits si Tigbtig ii&ift ReWid Payt.fte' vndet--any &a-' sk.. X ieF held nfid6 •11, Wd ev6fit Any-povisloti. ' Of this AgirLefficrit fit'anyLeaseiha wmp,t,,tjurigdi6ti,,-,:bmebrht)ldinj sW1 not invAli&fe'&r render ufiedhrcehble afty other provision hbid6f*'.'.", 44ml IA.% PMit •his Agreeaaept coti§6tvtes the entire agreement of the patti6svith respet ttor thdsuiJect ::agr4iOnents. - %fiditation - doi6 h6': 'iMd -supersedes all•-Itior writingi;,undwt =_'diAO; or ThsAir6 *cmay:b6 amended or written docunefiig duly saiecrifed a deliv�by Lemor and Leas ...... ad-, .713 taptions'br gsin& . i,�grccnenl xt f dr ience 'O&y acid in no way de i�inoj limit or did �gedidft & Otai,6s hereof. )Pd Or intent of any 6 fba *6Y -411 W,4i`f iiKA.j-kkagjhkTvi.. Amiatg `J'iS*6f &fd. ssee 9gM time', &Xdc and cutAAo1mowIc*d"d ciiiitM;tucbLZpplemchWhmt6kW*Wch.ftrffiteit%trutdd*mti'egs.-: knowledge hv-&;,Dr.tAnDf&"t6 c ly resso degbrip '1:01MCM hereby leased or.irrtendI Soto other is e i riyirig out the T iii ilgi4hidihill Wjb*mod by and Vadsteuedin &4&datw With diclaWs4t�� Y'At ba6es Hereto -to'cMvY-V' 'Buyapp lebble. UPary. laws, acco Aingly, ;it isag rtwitbstandiqg'0y'rkbv1s.i&8 x* jh'i4 'Equiprnifit -ScWiiie - in- ifo mun' ddf'r- cone In !n JW'.-lie". applied -to-=duce ftn4A tiicl Wfi66n6T!d6itiiiil . mains, refiitided to S;essce; - 3ri'deieYininitig whstlier" 1he'lntefest paid �ir payable exceeds th6 bightdt lawful rate;-the total amount 6f Interest,:- ftou '.PP L 6f l essor fo err a etiy oi=tiio provisiow of tTris - or airy 1,6ase shill ire's way be t(tvaiver Of stick '. - J• ::IL�tECiJit6i4 PACE OF iViA.STI&RIFAiSR;ilG1 1VC�1V7` ,i :`• lV ..: E LY MER D 9 - LltrA„S _ 7. it+ Wi71v1E.SS GvHERUF; Lessor ]ias caused flii Atrieti to' 6e e�teCiit®a `m its caiporcafe rite by its duly aufhtir5zad'o' ice d I cssoe'has catts«4 this Ageemefit6 be exeaited iii•its n�ctnt by' its cliily authorized bffcer: - CITY:O)RDi iItAYBLAL' ,•Fi. ': _ -J " %� S�'!iS ASI�'VGGORPOJ2A�"I+Q;�1,. :Name- Je P ' ` " ~Name: iVfichael wets .Titles yo'r Date r titaiue' • r 'Addt'esk-2911V: Sus u&3ftA :Averiutt,'•Stitt 440 = r' Addc�ess' -] 00 NW First A 4 TSeIta� b6acb.,Jz .33'444 +26 8 `fowsori;.TuJD '21204 - 4- -7]26= `ref hotiei'910l3b7 -6694 -Telepi►dme: 561/3 3 Op ;Ta6§ittimiie ':.561lZ43 7166 aGSitiriie ; 4i0/347 -6702e _• This is counterpart No. -I of 2 serially numbered, manually ttxecuicd counterparts' of i this document. 7'o the extent that this Leasc A�ement constitutes chattel paper ` "tinder the Uniform Commercial Code, a security intemst in this Lease Agreement _ Tmy be coated through the transfer and possession of Counterpart No. (only, ?' without rho aced to transfer possession of any other original or counterpart or copy of this Lease Agreement or any original orcotmterpart or copy of any exhibits, addenda, schedules, cerGficatcs, riders or other documents and instruments executed 'and delivered in connection with this Lease Agreement. •r «r• •� - . - f '• _ A0 ,• iris /770AU1:F4�t'�'�rJnY:M09g1! -i - 'r' a • ,! • i . y. ���I�A iiri•F('r EXHIBIT A EQUIPMENT SCHEDULE NO. 03 TO LEASE NO. 02649 following Equipment comprises an Equipment Group which is the subject of the Master Lease Agreement dated as of May "Agreement") between the undersigned Lessor and Lessee. The Agreement is incorporated herein in its entirety, and Lessee ms each of its representations, warranties and covenants contained in the Agreement. Lessee warrants that no Non - and no Event of Default, or event which, with the passage of time or the giving of notice or both, would constitute an Event > occurred under the Agreement. An Acceptance Certificate and Payment Schedule are attached to this Equipment Schedule ce are made a part hereof. The terms capitalized in this Equipment Schedule but not defined herein shall have the meanings :m in the Agreement. EQUIPMENT GROUP cost of the Equipment Group to be funded by Lessee under this Lease is $825,000.00 (the "Acquisition Cost "). The oup consists of the following Equipment which has been or shall be purchased: POLICE AND FIRE SAFETY HARDWARE AND SOFTWARE PER MULTIPLE INVOICES FROM SUNGARD PUBLIC SECTOR )epartment's computer upgrades will integrate their separate systems including data entry, CAD (dispatch), mobile porting, records and parking citations. The Fire Department's new system will include computer aided dispatch and field management reporting Equipment Group is or will be located at the following address(es). Prior to relocation of the Equipment Group or any during the Lease Term, Lessee will provide written notice to Lessor: LRAY BEACH, i S. McDuffie 0 NW V Avenue dray Beach, FL 33444 1/243 -7010 51/243 -7166 Xfmv.sioacic MULTIPLE LOCATIONS SUNTRUST EQUIPMENT FINANCE & LEASING CORP., Lessor By: Name: Gregory Faherty Title: Vice President Date: Address: 300 East Joppa Road, 7th Floor Towson, MD 21286 Telephone: 410/307 -6648 Facsimile: 410/307 -6668 Lease No.: 02649 Equipment Schedule: 03 ACCEPTANCE CERTIFICATE I, the undersigned, hereby certify that I am the duly qualified and acting officer of the Lessee identified below and, with respect to the above referenced Equipment Schedule and Lease, that: 1. The Equipment described below has been delivered and installed in accordance with Lessee's specifications, is in good working order and is fully operational and has been fully accepted by Lessee on or before the date indicated below: POLICE AND FIRE SAFETY HARDWARE AND SOF'T'WARE PER MULTIPLE INVOICES FROM SUNGARD PUBLIC SECTOR The Police Department's computer upgrades will integrate their separate systems including data entry, CAD (dispatch), mobile data, field reporting, records and parldng citations. The Fire Department's new system will include computer aided dispatch and field management reporting 2. Attached are (a) evidence of insurance with respect to the Equipment in compliance with Article VII of the Agreement; (b) Vendor invoice(s) and /or bill(s) of sale relating to the Equipment, and if such invoices have been paid by Lessee, evidence of payment thereof (evidence of official intent to reimburse such payment as required by the Code having been delivered separately by Lessee); and (c) financing statements executed by Lessee as debtor and /or the original certificate of title or manufacturer's certificate of origin and title application, if any, for any Equipment which is subject to certificate of title laws. 3. Rental Payments shall be due and payable by Lessee on the dates and in the amounts indicated on the Payment Schedule attached to the Equipment Schedule. Lessee has appropriated and/or taken other lawful actions necessary to provide moneys sufficient to pay all Rental Payments required to be paid under the Lease during the current Fiscal Year of Lessee. Such moneys will be applied in payment of all such Rental Payments due and payable during such current Fiscal Year. Lessee anticipates that sufficient funds shall be available to make all Rental Payments due in subsequent Fiscal Years. 4. Lessee hereby authorizes and directs Lessor to frond the Acquisition Cost of the Equipment by paying, or directing the payment by the Escrow Agent (if applicable) of� the invoice prices to the Vendor(s), in each case as set forth above, or by reimbursing Lessee in the event such invoice prices have been previously paid by Lessee. X S. Final Acceptance Certificate. This Acceptance Certificate constitutes final acceptance of all of the Equipment identified in the Equipment Schedule described above. Lessee certifies that upon payment in accordance with paragraph 4 above, or direction to the Escrow Agent (if applicable) to make payment, Lessor shall have fully and satisfactorily performed all of its covenants and obligations under the Lease. [CHECK BOX IF APPLICABLE] CITY OF DELRAY BEACH, Lessee By: Name: Nelson S. McDuffie Title: Mayor Date: iuvzou!BQ.rresc noc/mv sroo %k Lease No.: 02649 Equipment Schedule: 03 PAYMENT SCHEDULE The Funding Date with respect to the above referenced Equipment Group shall be December 6, 2011. Lessor shall retain any interest or income accruing between the Funding Date and the date on which interest begins to accrue in accordance with the Payment Schedule more fully set forth below. The Annual Interest Rate applicable to the Equipment Group shall be 1.8546 %. Lessee will make Rental Payments each consisting of Principal and Interest as set forth below for a term of 84 months. The first Rental Payment is due on January 6, 2011 and subsequent payments are due monthly on like date thereafter. Payment Payment Payment Principal Interest Prepayment Number Date Amount Component Component Price* 1 116/2012 10,4$0.31 9,205.28 1,275.03 823,952.67 2 2/6/2012 10,480.31 9,219.51 1,260.80 814,640.96 3 3/6/2012 10,480.31 9,233.76 1,246.55 805,314.87 4 4/6/2012 10,480.31 9,248.03 1,232.28 795,974.36 5 5/6/2012 10,480.31 9,262.32 1,217.99 786,619.42 6 6/6/2012 10,480.31 9,276.63 1,203.68 777,250.02 7 7/6/2012 10,480.31 9,290.97 1,189.34 767,866.14 8 816/2012 10,480.31 9,305.33 1,174.98 758,467.75 9 9/6/2012 10,480.31 9,319.71 1,160.60 749,054.84 10 10/6/2012 10,480.31 9,334.12 1,146.19 739,627.39 11 11/6/2012 10,480.31 9,348.54 1,131.77 730,185.37 12 12/6/2012 10,480.31 9,362.99 1,117.32 720,728.75 13 116/2013 10,480.31 9,377.46 1,102.85 711,257.51 14 2/6/2013 10,480.31 9,391.95 1,088.36 701,771.64 15 3/6/2013 10,480.31 9,406.47 1,073.84 692,271.11 16 4/6/2013 10,480.31 9,421.00 1,059.31 682,755.89 17 5/6/2013 10,480.31 9,435.57 1,044.74 673,225.97 18 6/6/2013 10,480.31 9,450.15 1,030.16 663,681.32 19 7/6/2013 10,480.31 9,464.75 1,015.56 654,121.92 20 8/6/2013 10,480.31 9,479.38 1,000.93 644,547.75 21 9/6/2013 10,480.31 9,494.03 986.28 634,958.78 22 10/6/2013 10,480.31 9,508.70 971.61 625,354.98 23 11/6/2013 10,480.31 9,523.40 956.91 615,736.35 24 12/6/2013 10,480.31 9,538.12 942.19 606,102.86 25 1/6/2014 10,480.31 9,552.86 927.45 596,454.47 26 2/6/2014 10,480.31 9,567.62 912.69 586,791.16 27 3/6/2014 10,480.31 9,582.41 897.90 577,112.94 28 4/6/2014 10,480.31 9,597.22 883.09 567,419.75 29 5/6/2014 10,480.31 9,612.05 868.26 557,711.58 30 6/6/2014 10,480.31 9,626.91 853.40 547,988.40 31 7/6/2014 10,480.31 9,641.78 838.53 538,250.19 32 8/6/2014 10,480.31 9,656.69 823.62 528,496.94 33 9/6/2014 10,480.31 9,671.61 808.70 518,728.62 34 10/6/2014 10,480.31 9,686.56 793,75 508,945.19 35 11/6/2014 10,480.31 9,701.53 778.78 499,146.65 12/1 /2011:BQ- NESC.DOGrevs/001cIc Lease No.: 02649 Equipment Schedule: 03 PAYMENT SCHEDULE CONTINUED Payment Payment Payment Principal Interest Prepayment Number Date Amount Component Component Price* 36 12/6/2014 10,48031 9,716.52 763.79 489,332.96 37 1/6/2015 10,480.31 9,731.54 748.77 479,504.11 38 2/6/2015 10,480.31 9,746.58 733.73 469,660.06 39 3/6/2015 10,480.31 9,761.64 718.67 459,800.80 40 4/6/2015 10,480.31 9,776.73 70158 449,926.31 41 5/6/2015 10,480.31 9,791.84 688.47 440,036.56 42 6/6/2015 10,480.31 9,806.97 673.34 430,131.51 43 7/6/2015 10,480.31 9,822.13 658.18 420,211.17 44 8/6/2015 10,480.31 9,837.31 643.00 410,275.48 45 9/6/2015 10,480.31 9,852.51 627.80 400,324.45 46 10/6/2015 10,480.31 9,867.74 612.57 390,358.03 47 11/6/2015 10,480.31 9,882.99 597.32 380,376.21 48 12/6/2015 10,480.31 9,898.26 582.05 370,378.97 49 1/6/2016 10,48031 9,913.56 566.75 360,366.27 50 2/6/2016 10,480.31 9,928.88 551.43 350,338.10 51 3/6/2016 10,480.31 9,944.23 536.08 340,294.43 52 4/6/2016 10,480.31 9,959.60 520.71 330,235.24 53 5/612016 10,480.31 9,974.99 505.32 320,160.50 54 6/6/2016 10,480.31 9,990.40 489.91 310,070.19 55 7/6/2016 10,480.31 10,005.84 474.47 299,964.29 56 8/6/2016 10,480.31 10,021.31 459.00 289,842.77 57 9/6/2016 10,480.31 10,036.80 443.51 279,705.60 58 101612016 10,480.31 10,052.31 428.00 269,552.77 59 11/6/2016 10,480.31' 10,067.84 412.47 259,384.25 60 12/6/2016 10,480.31 10,083.40 396.91 249,200.02 61 1/6/2017 10,480.31 10,098.99 381.32 239,000.04 62 2/6/2017 10,480.31 10,114.59 365.72 228,784.30 63 3/6/2017 10,480.31 10,130.23 350.08 218,552.77 64 4/6/2017 10,480.31 10,145.88 334.43 208,305.43 65 5/6/2017 10,480.31 10,161.56 318.75 198,042.24 66 6/6/2017 10,480.31 10,177.27 303.04 187,763.20 67 7/6/2017 10,480.31 10,193.00 287.31 177,468.28 68 8/6/2017 10,480.31 10,208.75 271.56 167,157.44 69 916/2017 10,480.31 10,224.53 255.78 156,830.67 70 10/6/2017 10,480.31 10,240.33 239.98 146,487.94 71 11/6/2017 10,480.31 10,256.16 224.15 136,129.21 72 12/6/2017 10,480.31 10, 272.01 208.30 125, 754.49 73 1/612018 10,480.31 10,287.88 192.43 115, 363.73 74 2/6/2018 10,480.31 10,303.78 176.53 104,956.91 75 3/6/2018 10,480.31 10,319.71 160.60 94,534.01 76 4/6/2018 10,480.31 10,335.66 144.65 84,094.99 77 5/6/2018 10,480.31 10,351.63 128.68 73,639.85 12/1/2011:nQ- Nrsc.noGrm. sromcm Lease No.: 02649 Equipment Schedule: 03 PAYMENT SCHEDULE CONTINUED Payment Payment Payment Principal Interest Prepayment Number pate Amount Component Component Price* 78 6/612018 10,480.31 10,367.63 112.68 63,168.55 79 7/6/2018 10,480.31 10,383.65 96.66 52,681.06 80 8/6/2018 10,480.31 10, 399.70 80.61 42,177.37 81 9/612018 10,480.31 10,415.77 64.54 31,657.44 82 10/6/2018 10,480.31 10,431.87 48.44 21,121.25 83 11/6/2018 10,480.31 10,447.99 32.32 10,568.78 84 12/6/2018 10, 480.31 16.21 0.00 Totals 880,346.04 ___10,464.10 825,000.00 55,346.04 CITY OF DELRAY BEACH, Lessee By: Name: Nelson S. McDuffie Title: Mayor Date: * After payment of Rental Payment due on such date. 12/1 /2011:9Q -NBSC, D0C1rev.5 /00%ic Escrow] TAX AGREEMENT AND ARBITRAGE CERTIFICATE EXHIBIT B -1 Lease Number: 02649 Equipment Schedule: 03 TAX AGREEMENT AND ARBITRAGE CERTIFICATE (this "Certificate ") is issued by CITY OF DELRAY BEACH see ") in favor of SUNTRUST EQUIPMENT FINANCE & LEASING CORP. ( "Lessor ") in connection with that certain Master Agreement dated as of May 20, 2004 (the "Agreement "), by and between Lessor and Lessee. The terms capitalized herein but not Z herein shall have the meanings assigned to them in the Agreement. in I. In General Nis Certificate is executed for the purpose of establishing the reasonable expectations of Lessee as to future events regarding the :ing of certain equipment (the "Equipment ") to be acquired by Lessor and leased to Lessee pursuant to and in accordance with the ment Schedule referenced above (the "Equipment Schedule ") executed under the Agreement (together with all related documents ted pursuant thereto and contemporaneously herewith, the "Financing Documents "). As described in the Financing Documents, r shall apply $825,000.00 (the "Principal Amount") toward the acquisition of the Equipment and Lessee shall make Rental Payments the terms and conditions as set forth in the Financing Documents. Che individual executing this Certificate on behalf of Lessee is an officer of Lessee delegated with the responsibility of reviewing and ting the Financing Documents, pursuant to the resolution or other official action of Lessee adopted with respect to the Financing nents, a copy of which has been delivered to Lessor. [he Financing Documents are being entered into for the purpose of providing funds for financing the cost of acquiring, equipping and ing the Equipment which is essential to the governmental functions of Lessee, which Equipment is described in the Equipment .ule. The Principal Amount will be disbursed by Lessor on or promptly after the date of issuance of the Financing Documents to .-e the Equipment essee will timely file for each payment schedule issued under the Lease a Form 8038 -G (or, if the invoice price of the Equipment such schedule is less than $100,000, a Form 8038 -GC) relating to such Lease with the Internal Revenue Service in lance with Section 149(e) of the Internal Revenue Code of 1986, as amended (the "Code "). Lessee has not issued, and reasonably anticipates that it and its subordinate entities, if any, will not issue, tax- exempt obligations ding the Lease) in the amount of more than $10,000,000 during the current calendar year. Lessee hereby designates the Lease as a fled tax- exempt obligation" within the meaning of Section 265(b)(3) of the Code and agrees that it and its subordinate entities, if any, at designate more than $10,000,000 oftheir obligations as "qualified tax- exempt obligations" during the current calendar year. in 2. Non- Arbitmee Certifications. lie Rental Payments due under the Financing Documents will be made with monies retained in Lessee's general operating find (or an nt or subaccount therein). No sinking, debt service, reserve or similar fund or account will be created or maintained for the payment Rental Payments due under the Financing Documents or pledged as security therefor. There have been and will be issued no obligations by or on behalf of Lessee that would be deemed to be (i) issued or sold within i (15) days before or after the date of issuance of the Financing Documents, (ii) issued or sold pursuant to a common plan of ing with the Financing Documents and (iii) paid out of substantially the same source of fimds as, or deemed to have substantially the -lain to be paid out of substantially the same source of funds as, the Financing Documents. , essee does not and will not have on hand any funds that are or will be restricted, segregated, legally required or otherwise intended to :d, directly or indirectly, as a substitute, replacement or separate source of financing for the Equipment. 10 portion of the Principal Amount is being used by Lessee to acquire investments which produce a yield materially higher than the realized by Lessor from Rental Payments received under the Financing Documents. [be Principal Amount does not exceed the amount necessary for the governmental purpose for which the Financing Documents were d into. Such funds are expected to be needed and fully expended for payment of the costs of acquiring, equipping and installing the ment. , essee does not expect to convey, sublease or otherwise dispose of the Equipment, in whole or in part, at a date which is earlier than ial Payment Date under the Financing Documents. in 3. Disbursement of Funds, Reimbursement to Lessee. It is contemplated that the entire Principal Amount will be used to pay the acquisition cost of Equipment to the vendors or .acturers thereof, provided that, if applicable, a portion of the principal amount may be paid to Lessee as reimbursement for ;ition cost payments already made by it so long as the conditions set forth in Section 3.2 below are satisfied. essee shall not request that it be reimbursed for Equipment acquisition cost payments already made by it unless each of the following ions have been satisfied: :ae- rn:sc.nocnm�.sroo/0ic- (a) Lessee adopted a resolution or otherwise declared its official intent in accordance with Treasury Regulation § 1.150 -2 (the "Declaration of Official Intent"), wherein Lessee expressed its intent to be reimbursed from the proceeds of a borrowing for all or a portion of the cost of the Equipment, which expenditure was paid to the Vendor not earlier than sixty (60) days before Lessee adopted the Declaration of Official Intent; (b) The reimbursement being requested will be made by a written allocation before the later of eighteen (18) months after the expenditure was paid or eighteen (18) months after the items ofEquipment to which such payment relates were placed in service; (c) The entire payment with respect to which reimbursement is being sought is a capital expenditure, being a cost of a type properly chargeable to a capital account under general federal income tax principles; and (d) Lessee will use any reimbursement payment for general operating expenses and not in a manner which could be construed as an artifice or device under Treasury Regulation § 1.148 -10 to avoid, in whole or in part, arbitrage yield restrictions or arbitrage rebate requirements. Section 4. Use and Investment of Funds, Temaorary Period. 4.1. Lessee has incurred or will incur, within six months from the date of issuance of the Financing Documents, binding obligations to pay an amount equal to at least five percent (5 %) of the Principal Amount toward the costs of the Equipment. An obligation is not binding if it is subject to contingencies within Lessee's control. The ordering and acceptance of the items of Equipment will proceed with due diligence to the date of final acceptance of the Equipment. 4.2. An amount equal to at least eighty -five percent (85 %) of the Principal Amount will be expended to pay the cost of the Equipment by the end of the three -year period commencing on the date of this Certificate. No portion of the Principal Amount will be used to acquire investments that do not carry out the governmental purpose of the Financing Documents and that have a substantially guaranteed yield of four (4) years or more. 4.3. (a) Lessee covenants and agrees that it will rebate an amount equal to excess earnings on the Principal Amount to the Internal Revenue Service if required by, and in accordance with, Section 148(f) of the Code, and make the annual determinations and maintain the records required by and otherwise comply with-the regulations applicable thereto. (b)Lessee reasonably expects to cause the Equipment to be acquired and placed in service within one (1) month of the date of issuance of the Financing Documents.. If the entire Principal Amount has not been expended on the Equipment by the date that is the six-month anniversary of the issuance of the Financing Documents, Lessee will provide evidence to Lessor that the rebate amount has been calculated and paid to the Internal Revenue Service in accordance with Section 148(f) of the Code. (c) Lessee hereby covenants that (i) Lessee is a governmental unit with general tax powers; (ii) the Lease is not a "private activity bond" under Section 141 of the Code; (iii) at least ninety -five percent (95 %) of the Principal Amount is used for the governmental activities of Lessee; and (iv) the aggregate principal amount of all tax-exempt obligations (including the Lease) issued by Lessee and its subordinate entities, if any, during the current calendar year is not reasonably expected to exceed $5,000,000. Accordingly, the rebate requirements of Section 148(f) of the Code are treated as being met, in lieu of the spending exceptions set forth in paragraph (b) above. Section 5. No Private Use, No Consumer Loan. 5.1. Lessee will not exceed the private use restrictions set forth in Section 141 of the Code. Specifically, Lessee will not permit more than ten (10 1/6) of the Principal Amount to be used for a Private Business Use (as defined herein) if, in addition, the payment of more than ten percent (10 %) of the Principal Amount plus interest earned thereon is, directly or indirectly, secured by (i) any interest in property, used or to be used for a Private Business Use or (ii) any interest in payments in respect of such property or derived from any payment in respect of property or borrowed money used or to be used for a Private Business Use. In addition, if both (A) more than five percent (5 %) of the Principal Amount is used as described above with respect to Private Business Use and (B) more than five percent (5 1/6) of the Principal Amount plus interest earned thereon is secured by Private Business Use property or payments as described above, then the excess over such five percent (5 %) (the "Excess Private Use Portion ") will be used for a Private Business Use related to the governmental use of the Equipment. Any such Excess Private Use Portion of the Principal Amount will not exceed the portion of the Principal Amount used for the governmental use of the particular project to which such Excess Private Use Portion is related. For purposes of this paragraph 5.1, "Private Business Use" means use of bond proceeds or bond financed- property directly or indirectly in a trade or business carried on by a natural person or in any activity carried on by a person other than a natural person, excluding, however, use by a state or local governmental unit and excluding use as a member of the general public. 5.2. No part of the Principal Amount or interest earned thereon will be used, directly or indirectly, to make or finance any loans to non- governmental entities or to any governmental agencies other than Lessee. Section 6. No Federal Guarantee. 6.1. Payment of the principal or interest due under the Financing Documents is not directly or indirectly guaranteed, in whole or in part, by the United States or an agency or instrumentality thereof. 6.2. No portion of the Principal Amount or interest earned thereon shall be (i) used in making loans the payment of principal or interest of which are to be guaranteed, in whole or in part, by the United States or any agency or instrumentality thereof, or (ii) invested, directly or indirectly, in federally insured deposits or accounts if such investment would cause the financing under the Financing Documents to be "federally guaranteed" within the meaning of Section 149(b) of the Code. 12 11/2011:BQ- NfSC.DOrItev.S/Wcic Section 7. Miscellaneous. 7.1. Lessee shall keep a complete and accurate record of all owners or assignees of the Financing Documents in form and substance satisfactory to comply with the registration requirements of Section 149(a) of the Code unless Lessor or its assignee agrees to act as Lessee's agent for such purpose. 7.2. Lessee shall maintain complete and accurate records establishing the expenditure of the Principal Amount and interest earnings thereon for a period of five years after payment in full under the Financing Documents. 7.3. To the best of the undersigned's knowledge, information and belief, the above expectations are reasonable and there are no other facts, estimates or circumstances that would materially change the expectations expressed herein. IN WITNESS WHEREOF, this Tax Agreement and Arbitrage Certificate has been executed on behalf of Lessee as of December 6, 2011. CITY OF DELRAY BEACH, Lessee By: Name: Nelson S. McDuffie Title: Mayor t V1 /2011:BQ- NESC.AOC/rw. 5 100 /dc EXHIBIT C [Non- Escrow] Lease Number: 02649 Equipment Schedule: 03 RESOLUTION NO. 8 -58 -11 RESOLUTION OF GOVERNING BODY At a duly called meeting of the governing body of Lessee held in accordance with all applicable legal requirements, including open meeting laws, on the _6hday of Desgmber , 2011, the following resolution was introduced and adopted: RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A MASTER LEASE AGREEMENT, EQUIPMENT SCHEDULE NO. 03 AND RELATED INSTRUMENTS, AND DETERMINING OTHER MATTERS IN CONNECTION THEREWITH. WHEREAS, the governing body of CITY OF DELRAY BEACH ("Lessee ") desires to obtain certain equipment (the "Equipment!') described in Equipment Schedule No. 03 to the Master Lease Agreement (collectively, the "Lease ") with SUNTRUST EQUIPMENT FINANCE & LEASING CORP., the form of which has been available for review by the governing body of Lessee prior to this meeting; and WHEREAS, the Equipment is essential for the Lessee to perform its governmental functions; and WHEREAS, the funds made available under the Lease will be applied to the acquisition of the Equipment in accordance with such Lease; and WHEREAS, Lessee has taken the necessary steps, including those relating to any applicable legal bidding requirements, to arrange for the acquisition of the Equipment; and WHEREAS, Lessee proposes to enter into the Lease with SUNTRUST EQUIPMENT FINANCE & LEASING CORP. substantially in the form presented to this meeting. NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF LESSEE AS FOLLOWS: Section 1. It is hereby found and determined that the terms of the Lease in the form presented to this meeting and incorporated in this resolution are in the best interests of Lessee for the acquisition of the Equipment. Section 2. The Lease and the acquisition and financing of the Equipment under the terms and conditions as described in the Lease are hereby approved. The Mayor of Lessee and any other officer of Lessee who shall have power to execute contracts on behalf of Lessee be, and each of them hereby is, authorized to execute, acknowledge and deliver the Lease with any changes, insertions and omissions therein as may be approved by the officers who execute the Lease, such approval to be conclusively evidenced by such execution and delivery of the Lease. The City Clerk of the Lessee and any other officer of Lessee who shall have power to do so be, and each of them hereby is, authorized to affix the official seal of Lessee to the Lease and attest the same. Section 3. The proper officers of Lessee be, and each of them hereby is, authorized and directed to execute and deliver any and all papers, instruments, opinions, certificates, affidavits and other documents and to do or cause to be done any and all other acts and things necessary or proper for carrying out this resolution and the Lease. Section 4. Pursuant to Section 265(b) of the Internal Revenue Code of 1986, as amended (the "Code"), Lessee hereby specifically designates the Lease as a "qualified tax- exempt obligation" for purposes of Section 265(b)(3) of the Code. The undersigned further certifies that the above resolution has not been repealed or amended and remains in full force and effect and further certifies that the Lease executed on behalf of Lessee is the same as presented at such meeting of the governing body of Lessee, excepting only such changes, insertions and omissions as shall have been approved by the officers who executed the same. Date: 1211 /2011:BQ•NLSC.DOC/m.5 /00 /cl. 10 CITY OF DELRAY BEACH, Lessee By: Name: Nelson S. McDuffie Title: _Mayor Attested By: Name: _ Title: EXHIBIT D Lease No.: 02649 Equipment Schedule: 03 INCUMBENCY CERTIFICATE to hereby certify that I am the duly elected or appointed and acting City Clerk of CITY OF DELRAY BEACH, a bdivision duly organized and existing under the laws of the State of Florida, that I have custody of the records of such entity, of the date hereof, the individuals named below are the duly elected or appointed officers of such entity holding the offices set ite their respective names. iirther certify that (i) the signatures set opposite their respective names and titles are their true and authentic signatures and (ii) rs have the authority on behalf of such entity to enter into that certain Master Lease Agreement dated as of May 20, 2004 :;h entity and SUNTRUST EQUIPMENT FINANCE & LEASING CORP. NAME McDuffie Mayor TITLE SIGNATURE I WITNESS WHEREOF, I have duly executed this certificate as of this day of December, 2011. By:_ Name: Title: scDOC/re .5/00kto _ 11 CITY OF �URRY _ EN . ..... .... ....... ;1(? ,`.i .. +:•.. r =.' hj! 4E �.i3't.. [ "'r lti. �:; ^.:'i .iR i.:.`ZI-44 CITY x s yy OFFICE rte i 'r;t.. ... . ?!.?il S.: .11.:.'i.. 'rljL %IS j+;:�t.. `'•7 2 ?;.cr:.':.. ..'•3:`.. .t�r_'t-' ?':f. ".. DELRAY BEACH WRITER'S DIRECT LINE: 5611243 -7091 bcftdV D All-America city December 7, 2011 t/ 1 - c 1993 SunTrust Equipment Finance & Leasing Corp. 2001 300 East Joppa Road, 7th Floor Towson, Maryland 21286 Subject: Master Lease Agreement dated as of May 20, 2004 (the "Agreement ") by and between SUNTRUST EQUIPMENT FINANCE & LEASING CORP. ( "Lessor ") and CITY OF DELRAY BEACH ( "Lessee ") Ladies and Gentlemen: We have acted as counsel to Lessee with respect to the Agreement described above and various related matters, and in this capacity have reviewed a duplicate original or certified copy thereof and Equipment Schedule No. 03 executed pursuant thereto (together with the Agreement, the "Lease "). The terms capitalized in this opinion but not defined herein shall have the meanings assigned to them in the Lease. Based upon the examination of these and such other documents as we have deemed relevant, it is our opinion that: Lessee is a political subdivision of the State of Florida (the "State ") within the meaning of Section 103(c) of the Internal Revenue Code of 1986, as amended, and is duly organized, existing and operating under the Constitution and laws of the State. 2. Lessee is authorized and has the power under applicable law to enter into the Lease, and to carry out its obligations thereunder and the transactions contemplated thereby. 3. The Lease has been duly authorized, executed and delivered by and on behalf of Lessee, and is a legal, valid and binding obligation of Lessee enforceable in accordance with its terms, except as enforcement thereof may be limited by bankruptcy, insolvency and other similar laws affecting the enforcement of creditors' rights generally and by general equitable principles. SunTrust Equipment & Leasing Corp. December 7, 2011 Page 2 4. To the best of my knowledge, the authorization and execution of the Lease and all other proceedings of Lessee relating to the transactions contemplated thereby have been performed in accordance with all applicable open meeting, public records, public bidding and all other laws, rules and regulations of the State. 5. The execution of the Lease and the appropriation of moneys to pay the Rental Payments coming due thereunder do not and will not result in the violation of any constitutional, statutory or other limitation relating to the manner, form or amount of indebtedness which may be incurred by Lessee. 6. There is no litigation, action, suit or proceeding pending or before any court, administrative agency, arbitrator or governmental body that challenges the organization or existence of Lessee, the authority of Lessee or its officers or its employees to enter into the Lease, the proper authorization and /or execution of the Lease or the documents contemplated thereby, the appropriation of moneys to make Rental Payments under the Lease for the current Fiscal Year of Lessee, or the ability of Lessee otherwise to perform its obligations under the Lease and the transactions contemplated thereby. To. the best of our knowledge, no such litigation, action, suit or proceeding is threatened. 7. Resolution No. 58 -11 of the governing body of Lessee was duly and validly adopted by such governing body on December 6, 2011 and such resolution has not been amended, modified, supplemented or repealed and remains in full force and effect. This opinion may be. relied upon by the addressee hereof and its successors and assignees of interests in the Lease, but only with regard to matters specifically set forth herein. Sincerely, OFFICE OF THE CITY ATTORNEY CITY OF DELRAY BEACH, FLORIDA By: R. Brian Shutt, Esq. City Attorney EXHIBIT G-1 Lease No.: 02649 Equipment Schedule: 03 Cities. Inc. ranee and Financial Services Jrlando, FL 32853 :ts, Plastridge Agency I5 -1433 15 -4755 it Name & Address and Fax Number ,CRAY BEACH has entered into a Master Lease Agreement dated as of May 20, 2004 with SUNTRUST 'CE & LEASING CORP. In accordance with the Agreement, Lessee certifies that it has instructed the insurance .sue: k Physical Damage Insurance on the leased Equipment evidenced by a Certificate of Insurance and Long Form ayable Clause naming SunTrust Equipment Finance & Leasing Corp. and /or its assigns as Loss Payee. Liability Insurance evidenced by a Certificate of Insurance. 'overage Required is $825,000.00 minimum coverage is required: lity: , $ 500,000.00 per person lity - Bodily Injury: $1,000,000.00 aggregate lity - Property Damage: $1,000,000.00 property damage liability ;AFETY HARDWARE AND SOFTWARE VOICES FROM SUNGARD PUBLIC SECTOR is computer upgrades will integrate their separate systems including data entry, CAD (dispatch), mobile ecords and parking citations. The Fire Department's new system will include computer aided dispatch and >rting dW 1sT AVENUE RAY BEACH, FL 3344 ,overage outlined above, please mail a certificate of insurance to SunTrust Equipment Finance & Leasing Road, 7'' Floor, Towson, Maryland 21286. issuing and forwarding the requested certificate at your earliest convenience will be appreciated. EACH, iffie 13 MM IT G-2 Lease Number. 02649 Equipment Schedule: 03 QMS TIONNAIRE FOR SELF- INSURANCE TO 1VIASTER LEASE AGREEMENT In connection Willi the Master Lease Agreement (the "Agreement"), dated as of May 20, 2004, made and entered into by and between SUNTRUST EQUIPMENT FINAPICE & LEASING CORP., as Lessor (the "Lessor"), and the lessee identified below, as Lessee (the "Lessee "), Lessee warrants and represents to Lessor die following information, The terms capitalized herein but not defined herebt shag have the meanings assigned to them in the Agreement. I. Property Inva mice. Lessee is self - insured a or destruction to the lIqulpment. XES NO (circle ono)!/ lO� If yes, the dollar amours -1 fofr property damage to The Equipment under the Lessee's self- insurance program is $ i�r The Lessee maintains an umbrella insurance policy for claims in excess of Lessee's self-insurance limits for property damage to the Equipment as in ated ove. XES NO (circle one) If yes, the umbrella policy lu vrdes coverage for all risk property damage. (—)MS NO (circle one) Ifyes, the dollar limit t"rep. damage to The Equipment under such umbrella policy is S—K—, 2. Lh91li Y1nsurance. a. Lessee is self-insured for liability for injury or death of any person or damage or loss o£property arising out of or relating to the condition or operatio Equipment. i'ES 'NO (circle one) {/ Ifyes, the dollar limit for t liability claims under the Lessee's self-insurance program i's 20O 4,10 LL b. Tire Lessee mabitains ells inswance policy for claims in excess ofLessee's self - insurance limits for liability including injury or de ofpe its or damage to property as indicated above, 'YENS NO • (circle one) IfyM the umbrella policy rovldea coverage for liabilities for injury and death to persons as well as damage or loss of property arising, out of 9ke ating to the condition or operation of the Equipment. NO (circle one) 3 M' ALL If yes, The dollar t of the umbrella policy's ]'units for such liability coverage is s 3A, se insta'anee Fund a. Lessee maintains a self -'''ppsT e fund. `YFSs NO (circle one) Ifyes, please complete tine i owing. 'Monies in the self-insurance fwid 'ect to annual appropriation, s J NO (circle one) (, The total. amount maintained in the insurance fund to cover Lessee's self - insurance liabilities is $ 17 i-^ "fax b. Amounts paid from the lessee's self -ins nce d are subject to limitations for each claim. YES (circle one) If yes, the dollar amount of limit per claim is lvinou aQ r�se�oc,ev s mete 14 3B. No Se Lff 4gpAtg eFund. a. If Lessee does not maintain a self - insurance fund, please complete. the following: Lessee obtains funds to pay claims for which it has self - insured from the following sources: b. The limitations on the amounts payable for claims from the above sources are as follows: 4. A:rrhority. PIA l ti a. The following entity or oflieer has authority to audrorize pa3mtent for claim: U/� b. In the event the entity o cer n ed in the prior response denies payment of a claim, does the clai pant have recourse to another adnilnistrativ flicer, agent or the courts? YES NO (circle one) If yes, to horn d re claimant have recourse? e o lirsrnanee. Attached hereto are copies of certificates of insurance ^with respcetto policies maintained by Lessee. IN WITNESS 'F4HERtOir, Lessee has caused this Questiotmaire to be executed as a supplement to the representations of Lessee in the Agreement by its duly authorized officer. CITY OF DE, LRAY BEACIII, Lessee Name. Nelson S. McDafe Title: Mayor Date: Telephone: 561J243-7010 Facsimile: 561%143 -7166 Attachment 12nre01 i:aQarFSC.nocf�y. jWC!t 15 SUNTRUST EQUIPMENT FINANCE & LEASING CORP. ADDENDUM TO EQUIPMENT SCHEDULE NO. 03 TO MASTER LEASE AGREEMENT (LEASE NO. 02649) RELATING TO SELF - INSURANCE ADDENDUM is made as of December 6, 2011, between SUNTRUST EQUIPMENT FINANCE & LEASING CORP. (the )r ") and CITY OF DELRAY BEACH (the "Lessee "). Recitals :ssor and Lessee have entered into a Master Lease Agreement dated as of May 20, 2004 (the "Agreement "). essee desires to lease equipment described in Equipment Schedule No. 03 to the Agreement (the "Equipment ") and Lessee has Aed that Lessor lease such Equipment to Lessee. ith respect to Equipment Schedule No. 03, Lessee has requested that Lessor permit it to provide self - insurance for liability claims and rty damage. ssor is willing to grant Lessee's request subject to the following terms and conditions. ', THEREFORE, in consideration of the premises and mutual covenants and agreements contained herein and in the Agreement, it is i agreed as follows: 1. The terms capitalized in this Addendum but not defined herein shall have the meanings assigned to them in the Agreement. 2. Lessee hereby represents and warrants that all representations and warranties contained in the Agreement are true and correct he date hereof and that neither a Non - Appropriation nor any Event of Default or event which, with the passage of time or giving of or both, would constitute an Event of Default has occurred under the Agreement. 3. All other terms and conditions of the Agreement not specifically amended by this Addendum shall remain in full force and and are hereby ratified and confirmed by Lessee. 4. Lessee represents and warrants that all representations and warranties contained in the Questionnaire for Self- Insurance to r Lease Agreement (the "Questionnaire ") are true and correct as of the date hereof 5. Lessor acknowledges receipt of the Questionnaire and, in reliance upon the information provided therein, agrees that Lessee atisfy the requirements of Sections 7.1 through 7.3 of the Agreement with respect to Equipment Schedule No. 02 through self - nce. 6. By written notice to Lessee, Lessor may revoke its agreement relative to Equipment Schedule No. 03 to accept self -i isurance i of the insurance required by Section 7.1 through 7.3 of the Agreement at any time during the related Lease Term when Lessor . itself insecure with respect to such self-insurance. Within thirty (30) days of receipt of notice from Lessor, Lessee agrees to obtain ace in compliance with Section 7.1, 7.2 and 7.3 of the Agreement and provide evidence thereof to Lessor. ITNESS WHEREOF, the parties by their duly authorized officers have executed this Addendum as of the date and year first above OF DELRAY BEACH, SUNTRUST EQUIPMENT FINANCE & LEASING CORP., Lessor Nelson S. McDufLie Mayor :nQ- NESC.DOgmv.s/OOkd. 16 By: Name: Gregory Faherty Title: Vice President Date: Form 8 ®38 G (Rev. May 2010) Department of the Treasury Intemal Revenue Service Information Return for Tax - Exempt Governmental Obligations ► Under Internal Revenue Code section 149(e) OMB No. 1545 -0720 ► See separate instructions. Caution: If the issue price is under $100,000, use Form 8038-GC. Reporting Authority If Amended Return, check here ► LJ 1 Issuer's name 2 Issuer's employer Identification number (E1N) City of Delray Beach 59 6000308 3 Number and street (or P.O. box If mall Is not delivered to street address) Room /suite 4 Report number (For IRS Use Only) 100 NON 1st Avenue 14 825,000 8 City, town, or post office, state, and ZIP code 6 Date of Issue Delray Beach, FL 33444 16 December 6, 2011 7 Name of Issue 8 CUSIP number Master Lease Agreement No. 02649, Equipment Schedule No. 003 18 Proceeds allocated to reasonably required reserve or replacement fund . 9 Name and title of officer of the issuer or other person whom the IRS may call for more Information 10 Telephone number of officer or other persor Rebecca S. O'Connor, Treasurer ( 561 ) 243.7120 22 type of issue tenter the Issue price See Instructions and attach schedule . . . . . . 11 12 13 14 15 16 17 18 19 20 Education . . . . . . . . . . . . . . . . . . . . . . . . . . . Health and hospital . . . . . . . . . . . . . . . . . . . . . . . . Transportation . . . . . . . . . . . . . . . . . . . . . . . . . . Public safety . . . . . . . . . . . . . . . . . . . . . . . . . . . . Environment (Including sewage bonds) . . . . . . . . . . . . . . . . . . . . Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other. Describe ► If obligations are TANS or RANs, check only box 19a . . . . . . . . . . ► ❑ If obligations are BANs, check only box 19b . . . . . . . . . . . . . . . ► ❑ If obligations are in the form of a lease or installment sale, check box . . . . . . . ► ❑✓ 11 23 12 _. 23 13 . . . . . 14 825,000 00 15 25 16 26 17 18 Proceeds allocated to reasonably required reserve or replacement fund . 26 l <. Description of Obligations. Complete for the entire issue for which this form is bein g filed. (a) Final maturity date (b) Issue price (c) Stated redemption price at maturity (d) Weighted average maturity (e) Yield 21 December 6, 2018 $ 825,000.00 $ 3.6173 years 1.8546 % ... Uses of Proceeds of Bond Issue fincludina underwriters' discnunti 22 Proceeds used for accrued interest . . . . . . . . . . . . . . . . . . . . . 22 23 23 Issue price of entire issue (enter amount from line 21, column (b)) . . . . . . 24 Proceeds used for bond issuance costs (including underwriters' discount) 24 25 Proceeds used for credit enhancement . . . . . . . . 26 = 26 Proceeds allocated to reasonably required reserve or replacement fund . 26 <. 27 Proceeds used to currently refund prior issues . . . . . . 27 = _ 28 Proceeds used to advance refund prior issues . . . . . . 28 ... 29 Total (add lines 24 through 28) 29 30 30 Nonrefunding proceeds of the issue subtract line 29 from line 23 and enter amount here Description of Refunded Bonds (Complete this part only for refunding bonds.) 31 Enter the remaining weighted average maturity of the bonds to be currently refunded . . . ► NIA years 32 Enter the remaining weighted average maturity of the bonds to be advance refunded . . . ► NIA years 33 Enter the last date on which the refunded bonds will be called (MM /DDNYYY) . . . . . ► NIA 34 Enter the date(s) the refunded bonds were issued ► (MM/DD/YYYY) For Privacy Act and Paperwork Reduction Act Notice, see separate Instructions. Cat. No. 63773S Form 8038 -G (Rev. 5 -2010) Form 8038 -G (Rev. 5 -2010) Page 2 Miscellaneous 35 Enter the amount of the state volume cap allocated to the issue under section 141(b)(5) . . . 35 36a Enter the amount of gross proceeds invested or to be invested in a guaranteed investment contract (GIC) (see instructions) , , , , , , , , , , , , , , , , , , , , , , , , , 36a b Enter the final maturity date of the GIC ► 37 Pooled financings: a Proceeds of this issue that are to be used to make loans to other governmental units . . . . . . . . . . . . . . . . . . . . . . . . . . 37a b If this issue is a loan made from the proceeds of another tax - exempt Issue, check box ► ❑ and enter the name of the issuer ► and the date of the issue ► 38 If the issuer has designated the issue under section 265(b)(3)(B)(1)(III) (small issuer exception), check box ► 39 If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check box . . . . . . . . . . . . . ► ❑ 40 If the issuer has identified a hedge, check box . . . . . . . . . . . . . . . . . . . . . . . lip- Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge Signature and belief, they are true, correct, and complete. I further declare that I consent to the IRS's disclosure of the issuer's return Information, as necessary and to process this return, to the person that I have authorized above. Consent Nelson S. McDuffie, Mayor Signature of issuer's authorized representative Date ' Type or print name and title Paid Preparers' Date Check If Preparer's SSN or PTIN r signature self -em to ed ❑ Preparer s Use Only Firm's name (or �/ yours If self - employed), EIN address and ZIP code Phone no f ) Form 8038 -G (Rev, 5 -2010)