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HomeMy Public PortalAbout2011.10.20 John Deere FinancialCITY OF MCCALL 216 E PARK ST.. MCCALL. iD 83638 DEERE CREDIT, INC. 6400 NW 86T" ST, PO BOX 6600, JOHNSTON, IA 50131-6600 This Master Lease -Purchase Agreement ("Master Agreement) is entered into between Deere Credit, Inc., as Lessor ("we", "us" or 'bur'), and the lessee identified above ("you" or "your"). "Schedule" shall mean any Lease Schedule signed by you and us, which incorporates the terms of this Master Agreement. "Lease" shall mean this Master Agreement and any Schedule. 1. Lease Term; Payments. You agree to lease from us the property ("Equipment') described in each Schedule for the Lease Term. The Lease Term will begin on the Lease Term Start Date and end on the Lease Term End Date. All attachments and accessories itemized on the Schedule and all replacements, parts and repairs to the Equipment shall form part of the Equipment. A Schedule is not accepted by us until we sign it, even if you have made a payment to us. You agree to remit to us the Lease Payments indicated in the Schedule and all other amounts when due and payable each Billing Period, even if we do not send you a bill or an invoice. Except as otherwise provided in Section 2 of this Master Agreement, YOUR PAYMENT OBLIGATIONS ARE ABSOLUTE AND UNCONDITIONAL, AND ARE NOT SUBJECT TO CANCELLATION, REDUCTION OR SETOFF FOR ANY REASON WHATSOEVER. For any payment which is not received by its due date, you agree to pay a late charge equal to 5% of the past due amount (not to exceed the maximum amount permitted by law) as reasonable collection costs, plus interest from the due date until paid at a rate of 1.5% per month, but in no event more than the maximum lawful rate. 2. Non -Appropriation of Funds. You intend to remit to us all Lease Payments and other payments for the full Lease Term if funds are legally available. In the event you are not granted an appropriation of funds at any time during the Lease Term for the Equipment or for equipment which is functionally similar to the Equipment and operating funds are not otherwise available to you to remit Lease Payments and other payments due and to become due under the Lease, and there is no other legal procedure or available funds by or with which payment can be made to us, and the non - appropriation did not result from an act or omission by you, you shall have the right to return the Equipment in accordance with Section 8 of this Master Agreement and terminate the Lease on the last day of the fiscal period for which appropriations were received without penalty or expense to you, except as to the portion of the Lease Payments for which funds shall have been appropriated and budgeted. At least thirty (30) days prior to the end of your fiscal period, your chief executive officer (or legal counsel) shall certify in writing that (a) funds have not been appropriated for the fiscal period, (b) such non -appropriation did not result from any act or failure to act by you, and (c) you have exhausted all funds legally available to pay Lease Payments. If you terminate the Lease because of a non - appropriation of funds, you may not, to the extent permitted by applicable law, purchase, lease, or rent, during the subsequent fiscal period, equipment performing the same functions as, or functions taking the place of, those performed by the Equipment. This Section 2 shall not permit you to terminate the Lease in order to acquire any other equipment or to allocate funds directly or indirectly to perform essentially the application for which the Equipment is intended. 3. Taxes. Although you may be exempt from the payment of certain taxes, you agree to pay us when invoiced (a) all sales, use, rental, gross receipts and all other taxes which may be imposed on the Equipment or its use, and (b) all taxes and governmental charges associated with the ownership, use or possession of the Equipment including, but not limited to, personal property and ad valorem taxes ('Taxes"). Taxes do not include those measured by our net income. If applicable law requires tax returns or reports to be filed by you, you agree to promptly file such tax returns and reports and deliver copies to us. You agree to keep and make available to us all tax returns and reports for Taxes paid by you. 4. Security Interest; Missing Information. You shall have title to the Equipment immediately upon delivery and shall be the owner of the Equipment. You (a) grant us a security interest in the Equipment (and all proceeds) to secure all of your obligations under the Lease, and (b) authorize us to file financing statements naming you as debtor. You agree to keep the Equipment free and dear of all liens and encumbrances, except those in our favor, and promptly notify us if a lien or encumbrance is placed or threatened against the Equipment. You irrevocably authorize us, at any time, to (1) insert or correct information on Schedules, including your correct legal name, serial numbers and Equipment descriptions; (2) submit notices and proofs of loss for any required insurance; and (3) endorse your name on remittances for insurance and Equipment sale or lease proceeds. 5. Equipment Maintenance. Operation and Use. You agree to (a) not move the Equipment to another county or state without notifying us within 30 days; (b) operate and maintain the Equipment in accordance with all (1) laws, ordinances and regulations, (2) manuals and other instructions issued by the manufacturer(s) and supplier(s), and (3) insurance policy terms and requirements; (c) perform (at your expense) all maintenance and repairs necessary to keep the Equipment in as good a condition as when delivered to you, reasonable wear excepted; (d) not install any accessory or device on the Equipment which affects the value, useful life or the originally intended function or use of the Equipment in any way, unless it can be removed without damaging the Equipment; (e) allow us and our agent(s) to inspect the Equipment and all of your records related to its use, maintenance and repair, at any reasonable time, (I) keep any metering device installed on the Equipment connected and in good working condition at all times; (g) affix and maintain, in a prominent place on the Equipment, any labels, plates or other markings we may provide to you; and (h) not permit the Equipment to be used by, or to be in the possession of, anyone other than you or your employees. 6. Insurance. You agree, at your cost, to (a) keep the Equipment insured against all risks of physical damage for no less than the Principal Balance (as indicated in the Amortization Schedule attached to and made a part of the Schedule), naming us as sole loss payee; and (b) maintain public liability insurance, covering personal injury and property damage for not less than $1,000,000 per occurrence, naming us as additional insured. All insurance must be with companies and policies acceptable to us. Your obligation to insure the Equipment continues until you return the Equipment to us and we accept it. Each insurance policy must provide that (A) our interest in the policy will not be invalidated by any act, omission, breach or neglect of anyone other than us; and (B) the insurer will give us at least 30 days' prior written notice before any cancellation of, or material change to, the policy. Unless you provide us with evidence of the required insurance coverages, we may purchase insurance, at your expense, to protect our interests in the Equipment. This insurance may not (1) protect your interests; or (2) pay any claim that you make or any claim that is made against you in connection with the Equipment. You may later cancel any insurance purchased by us, but only after providing us with evidence that you have obtained the insurance required by the Lease. The cost of the insurance may be more than the cost of insurance you may be able to obtain on your own. 7. Loss or Damage. Until the Equipment is returned to us in satisfactory condition, you are responsible for all risk of loss and damage, loss, theft, destruction or seizure of the Equipment (an "Event of Loss"). You must promptly notify us of any Event of Loss. If the Equipment can be repaired or replaced, you agree to promptly repair or replace the Equipment, at your cost, and the terms of the Lease will continue to apply. If the Equipment cannot be repaired or replaced, you agree to immediately pay us the pro rata portion of the Principal Balance, as determined by us as of the day before such Event of Loss occurred_ Upon receipt of the pro rata portion of the Principal Balance, we will transfer to you (or the insurance company) all of our right, title and interest in such item(s) of Equipment (each, an "Item") AS -IS, WHERE -IS, WITHOUT ANY WARRANTY AS TO CONDITION OR VALUE. All insurance proceeds must be paid directly to us, and we may apply any excess insurance proceeds to any other amounts you owe us. 8. Return of Equipment. If a Schedule is terminated for any reason including, but not limited to, a non -appropriation of funds pursuant to Section 2 of this Master Agreement, you agree to return all Equipment to the place designated by us, at your expense and in satisfactory condition, along with all use, maintenance and repair records. Equipment is in satisfactory condition if it is in as good a condition as when the Equipment was delivered to you, reasonable wear excepted, and conforms to the standards of any Maintenance Addendum incorporated into the Lease. 9. Default. You will be in default if: (a) you fail to remit to us any Lease Payment or other payment when due; (b) you breach any other provision of the Lease and such default continues for 10 days; (c) a default occurs under any other agreement between you and us (or any of our affiliates); or (d) you fail to maintain the insurance required by Section 6. Time is of the essence under the Lease. 10. Remedies. If a default occurs, we may do one or more of the following: (a) recover from you, AS LIQUIDATED DAMAGES FOR LOSS OF BARGAIN AND NOT AS A PENALTY, the Principal Balance as of the date of such default; (b) declare any other agreements between you and us in default; (c) terminate any of your rights (but none of your obligations) under any Lease and any other agreement between you and us; (d) require you to return the Equipment in the manner outlined in Section 8, or take possession of the Eauioment: (e) lease or sell the Eauiomenl or anv portion thereof at a Dublic or DCI TAX EXEMPT MLPA (MUNI) 04/2005 Page 1 of 2 App111593 ADDITIONAL TERMS AND CONDITIONS OF AGREEMENT private sale; (f) apply the net proceeds we receive from any sale, lease or other disposition of the Equipment (after deducting all of our costs and expenses) to your obligations under the Lease, with you remaining liable for any deficiency, (g) charge you for expenses incurred in connection with the enforcement of our remedies including, without limitation, repossession, repair and collection costs, attorneys' fees and court costs; (h) exercise any other remedy available at law or in equity; and (i) take on your behalf (at your expense) any action required by the Lease which you fail to take. These remedies are cumulative, are in addition to any other remedies provided for by law, and may be exercised concurrently or separately. Any failure or delay by us to exercise any right shall not operate as a waiver of any other right or future right. 11. Assignment. You will not assign, pledge or otherwise transfer any of your rights or interests in the Lease or any Equipment without our prior written consent. Any assignment without our consent will be void. We may assign the Lease or our interest in the Equipment at any time without notice to you and without your consent. We may provide information about you to any prospective assignee or participant. You agree not to assert against our assignee any claims, offsets or defenses which you may have against us. 12. Representations and Warranties. You represent and warrant to us, as of the date of this Master Agreement and of each Schedule, and covenant to us so long as the Lease is in effect, that: (a) you are a State, or a political subdivision thereof, for purposes of Section 103 of the Internal Revenue Code of 1986, as amended (the "Code"); (b) any documents required to be delivered in connection with the Lease (collectively, the "Documents") have been duly authorized by you in accordance with all applicable laws, rules, ordinances, and regulations; (c) the Documents are valid, legal, binding agreements, enforceable in accordance with their terms and the person(s) signing the Documents have the authority to do so, are acting with the full authorization of your governing body, and hold the offices indicated below their signatures; (d) the Equipment is essential to the immediate performance of a governmental or proprietary function by you within the scope of your authority and shall be used during the Lease Term only by you and only to perform such function, (e) you intend to use the Equipment for the entire Lease Term and shall take all necessary action to include in your annual budget any funds required to fulfill your obligations each fiscal period during the Lease Term; (f) you have complied fully with all applicable law governing open meetings, public bidding and appropriations, required in connection with the Lease and the debt under applicable state law; (g) your obligations to remit Lease Payments and other amounts due and to become due under the Lease constitute a current expense and not a debt under applicable state law; (h) all financial information you have provided is true and a reasonable representation of your financial condition; (i) you shall not do or cause to be done any act which shall cause, or by omission of any act allow the interest portion of any Lease Payment to become includible in our gross income for Federal income taxation purposes under the Code, 0) you shall maintain a complete and accurate account of all assignments of the Lease in the form sufficient to comply with book entry requirements of Section 149(a) of the Code and the regulations prescribed thereunder from time to time; and (k) you shall comply with the information reporting requirements of Section 149(e) of the Code. Such compliance shall include, but not be limited to, the execution of 8038-G or 8038-GC Information 13. Indemnity. You are responsible for all losses, damage, claims, infringement claims, injuries to or the death of an individual, and attorneys' fees and costs ("Claims"), incurred or asserted by any person, in any manner related to the Equipment or the lease thereof, including its use, condition or possession. To the extent permitted under applicable law, you agree to defend and indemnify us, and hold us harmless, against all Claims, although we reserve the right to control the defense and to select or approve defense counsel. You agree to not bring any action for Claims against us. You will promptly notify us of all Claims made. Your liability under this Section is not limited to the amounts of insurance required under the Lease. This indemnity continues beyond the termination of a Schedule, for acts or omissions, which occurred during the Lease Term. 14. Time Price. You understand that the Equipment may be purchased for cash or it may be purchased pursuant to the terms of the Lease for a Time Price equal to the sum of (1) all Lease Payments due and to become due thereunder, and (2) the Documentation Fees. By executing the Lease, you have chosen to purchase the Equipment for that Time Price. You and we intend to comply with all applicable laws. In no event will we charge or collect any amounts in excess of those allowed by applicable law. In the event any amount in excess of that allowed by law is charged or recovered, any such charge will be deemed limited by the amount legally allowed and any amount received by us in excess of that legally allowed will be applied by us to the payment of amounts legally allowed under the Lease, or refunded to you. 15. Miscellaneous. WE HAVE NOT MADE, AND DO NOT MAKE, ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE EQUIPMENT'S MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, SUITABILITY, OR OTHERWISE. WE ARE NOT LIABLE FOR CONSEQUENTIAL OR SPECIAL DAMAGES. You acknowledge that no supplier or dealer of the Equipment is an agent of ours, or authorized to act for or bind us. You agree not to withhold any amount you owe us if you believe you have a claim against us, or any Equipment supplier(s) or manufacturer(s), but to pursue that claim independently_ Any claim you have against us must be made within two years after the event that caused it. All notices must be in writing and will be deemed given 5 days after mailing to the intended recipient at its address indicated above, unless changed by a notice given in accordance with this Section_ Each Lease supersedes and replaces all prior understandings and communications (oral or written) concerning the subject matter thereof. No part of any Lease can be amended, waived or terminated except by a writing signed by both you and us. Any part of this Master Agreement may be signed in separate counterparts that, together, will constitute one document. If a court finds any part of this Master Agreement to be invalid or unenforceable, the remainder of this Master Agreement will remain in effect. You permit us to monitor and record telephone conversations between you and us. All of our rights under each Lease shall remain in effect after the expiration of the Lease Term or termination of the Schedule. we • • W •mHV VI'i•.:L VLL•YL Li•4L7 •, el1V. 216 T 7By 6400 NW $6 ST, PO BOX 6600 .CALL, fD 638 JOHNSTON, IA 50131-6600 �Y • By DON BA. EY, MAYOR Date. A Title: Date: DCI TAX EXEMPT MLPA (MUNI) 04/2005 Page 2 cf 2 App111593 020-0057501-000 0057501 Lessee: CITY OF MCCALL DBA MCCALL GOLF CLUB (NaMe & Adtitess) 216 E PARK ST, , MCCALL, ID 83638 1 DEERE CREDIT, INC. 6400 NW 86" ST, PO BOX 10/01/2011 1 10/01/2012 01 1 10/01/2011 IA 50131-6600 $0.00 $9,431.56 $0.00 0 Monthly 0 Quarterly 2 Semi -Annual 0 Annual $17,000.00 1 $1,00 "Master Agreement" shall mean the above referenced Master Lease -Purchase Agreement. "Schedule" shall mean this Lease Schedule. "Lease" shall mean this Schedule and the Master Agreement- All of the terms and conditions set forth in the Master Agreement and any amendment, addendum, schedule or attachment thereto or hereto including, but not limited to, the Maintenance Addendum are hereby incorporated into and made a part of this Schedule. Lease Payments. You agree to remit the Lease Payments (and you; (4) you received the written warranty applicable to the Equipment and applicable sales, use and property taxes) on the dates noted above and understand that your rights under the written warranty may be limited; (5) the all other amounts when due to: DEERE CREDIT, INC., P.O. Box 4450, Equipment is unconditionally and irrevocably accepted by you as being suitable Carol Stream, IL 60197-4450. for its intended use; (6) the Equipment is in good condition and repair Purchase Option. You may purchase the Equipment at the end of the (operating and otherwise), (7) the Equipment shall be used only for the purpose Lease Term for $1, provided (1) you are not in default, and (2) we receive indicated herein; (8) all information provided to us by you is true and correct. all amounts you owe us on or before the Lease Term End Date (the You acknowledge and agree that: (1) we did not select, manufacture or "Purchase Option"). Upon exercise of the Purchase Option, we will (a) supply any of the Equipment; (2) we acquired the Equipment at your direction, transfer to you all of our right, title and interest in such Item(s) of Equipment (3) you selected the supplier of the Equipment; (4) you are entitled to all AS -IS, WHERE -IS, WITHOUT ANY WARRANTY AS TO CONDITION OR manufacturer warranties ("Warranty Rights') and we assign all Warranty Rights VALUE, and (b) release our security interest in the Equipment. to you, to the extent assignable; (5) you may request an accurate and complete Representations and Warranties. You represent and warrant to us, as statement of the Warranty Rights, including any disclaimers and limitations, of the date you signed this Schedule, that (1) the Equipment was selected directly from the manufacturer; and (6) you assign to us all your rights (but none by you; (2) the Equipment (including all manufacturer manuals and of your obligations) under all purchase orders, purchase agreements or similar instructions) has been delivered to, and examined by, you; (3) the safe documents relating to the Equipment. You waive all rights and remedies OlDeration and the oroDer servicina of the EaujDment were exDlained to conferred upon a lessee under Article 2A of the Uniform Commercial Code. CLUB 216 E PARK ST MCCALL, ID 83638 By: J� D E', R Date: 2-011 I DCI TAX EXEMPT MLS (MUNI) 11/2005 GOLF 1 DEERE CREDIT, INC. 6400 NW 86" ST, PO BOX 6600 ®_ JOHNSTON, IA 50131-6600 By: Title: Page I of 2 App 111593 Supplier (NaMe&M ess) Make Year PACIFIC POWER PRODUCTS COMPANY 1818. BICKFORD AVE, SNOHOMISH, WA 98290 jjjj=;Vj14ZkdH•- Model Equipment Description SERIES II FRONT MOWER (DEMO) Serial Number TC1545XO40162 Excess Hour .Hour Hoar Meter Limit Charge Payment $5,488.28 Purchase Option $1.00 2009 JD 2011 JD HARD CAB FOR 1545 FRONT MOWER 1545CAB $2,151.76 $1,00 2011 JD 380 SNOW BLOWER 60 INCH 1M00380XVBM090237 $1,791.52 ,R $1.00 Equipment Location 924 FAIRWAY DR, MCCALL, ID, 83638 OUTSIDE city limits: ❑ VALLEY COUNTY BY SIGNING THIS SCHEDULE, YOU AGREE TO ALL OE THE TERMS AND CONDITIONS OF THIS SCHEDULE AND THE MASTER AGREEMENT. CITY OF MCCALL DBA MCCALL GOLF CLUB 216 E PARK ST MCCALL, ID 83638 By: D. AILEY, MAYOR Date: 7t • - By: bEERE -REDIT, INC. 64d0 NW 86' ST, PO BOX 6600 JOHNSTON, IA 50131-6600 Title: Date: DCI TAX EXEMPT MLS (MUNI) 11/2005 Page 2 of 2 App 111593 1 • #' romm 020-0057501-000 0057501 Lessee: CITY OF MCCALL DBA MCCALL GOLF CLUB (Name& Address) 216 E PARK ST, MCCALL, ID 83638 DEERE CREDIT, INC. Lessor. 6400 NW 86ei ST. PO BOX 6600. JOHNSTON. IA 50131-6600 4.85% AMORTIZATION SCHEDULE: Normal Amortization Loan I 10/01 /2011 26,207.00 �w 1 10/01/201 l 17,000.00 0.00 17,000.00 9,207.00 21- 11/01/2011 0.00 _0.00 37.21 37.36 37.21- 9,244.21 3 ' 12/01/2011 37.36- 9,281.57 2011 Totals^ _ 17,000.00 74.57 16,925.43 4 01/01/2012 0.00 37.51 37.51- 9,319.08 5 02/01/2012 0.00 - 37.66 37.66- 9,356.74 6 03/01/2012 0.00 37.82 37.82- 9,394.56 71 04/01/2012 9,431.56 37.97 9,393.59 0.97 8 05/01 /2012 0.00 0.00 - _ 0.00 0.00 _- _ 0.00 0.97 9 _ 06/01 /2012 0.00 0.97 10 _ 07/01 /2012 0.00 0.00 0.00 0.97 I 1 08/01 /2012 0.00 0.00 0.00 097 12 09/01/2012 0.00 0.00 0.00 0.97 13 10/01/2012 1.00 0.03 0.97 0.00 _ 2012 Totals 9,432.56 150.99 9,281.57 Grand Totals 26,432.56 225.56 26,207.00 216 E PARK ST, M- 83638 7 By: 7ByDON EY, MAYOR Date: DEERE CREDIT, INC. 6400 "N.W.86"' STREET, PO BOX 6600 JOHNSTON, IA 50131-6600 Date: DCi AMORTIZATION SCHEDULE 04/2005 Page 2 of." App 111593 020-0057501-000 Lessee- CITY OF MCCALL DBA MCCALL GOLF CLUB Lessor: DEERE CREDIT, INC. LIABILITY INSURANCE on the above referenced Lease Schedule (the "Schedule") to the above referenced Master Lease '- Agreement will be provided by the following insurance agency.- N me of Age y: icy Phone Number of Agency, Mailing Address of Agency F Number of Agency PHYSICAL DAMAGE INSURANCE on the Schedule will be provided by the following aq ncy: me of Agency: P licy P' one Number of Agency: iling Address of Agency F Number of Agency ***If an insurance certificate is available, it should be provided in place of the above information ADDITIONAL INSURED and LOSS PAYEE: Deere Credit, Inc - It's Successors Wor Assigns PO Box 6600 Johnston, IA 50131-6600 MCC 31638 M Y: 710)0N:B M.. 0 � Office UseOnly Contact Dale(s): Contact Name: Liability Insurance Company Policy #: Liability Insurance Expiration Date Liability Limits: Notes: Physical Damage Insurance Company and Policy # Physical Damage Insurance Expiration Date Insured Value: Notes: Loss Payee Deere Credit, Inc.? n Yes 0Will Be Added Verified By: oc/ /msunxwcsnoz005 Page 1*/ Apno1mm JOHN DEERE FINANCIAL Advance Lease PaII I yment Invoice W01 $17iOOO.00 Billing Address: Updated Billing Information: CITY OF MCCALL GAIL DRAPER 216 E PARK ST MCCALL, ID 83638 Please Note: All future invoices will be sent to the billing address shown unless you update your billing information above. App # Mfg. Model # Serial Number Due Date Rental/Tax Security ,Processing Total Due I Amount Deposit Fees 111593 JD SERIES 11 TC1545X040162 10/ 01/2011 $17,000.00 $0.00 $0.00 $17,000.00 Correspondence Only: Remit Checks Payable'T6: John Deere Credit Attn: Golf & Turf Leasing John Deere Credit PO Box 6600 Attn: Acct. Dept. — ALP Processing Johnston, IA 50131-6600 PO Box 6600 Johnston, IA 50131-6600 Phone.- (888) 777-2560 Fax: (888) 777-2561 TO ENSURE PROPER CREDIT, STAPLE CHECK AND RETURN THIS INVOICE WITH THE LEASE DOCUMENTS. DCI` ADVANCE LEASF PAYMENT INVOICE 1112004 pa""I of 1 App 111593 This amendment (this "Amendment") amends and supplements that certain Master Lease - Purchase Agreement entered into muofthe ox0 day ofOctober, 2011(the "Master Agremment") by and between Deere Credit, Inc. ("Lessor") and City of McCall ("Lessee"). RECITALS WHEREAS, Lessee wishes to amend certain provisions set forth inthe Master Agreement and Lessor is willing to amend said provisions as set forth herein. NOW, THEREFORE, in consideration of the mutual covenants contained in this Amendment and for other good and valuable oonuidestion, the receipt and sufficiency of which is expressly acknowledged, the parties agree as follows: 1. Capitalized terms not defined in this Amendment shall have the meaning given to them in the Master Agreement. 2, Section 13 of the Master Agreement is deleted in its entirety and replaced with the 13. Indemnity. You are responsible for all losoes, dumage, daims, infringement daims, injuries to or the death of an individuo|, and attorneys' haea and costs (^C|aims^), incurred or asserted by any Ve/son, in any manner related to the Equipment or the lease thereof, including its use, condition or possession. To the extent permitted under applicable law, you agree to defend and indemnify uo, and hold us harm|ess, against all C|eims, although we reserve the right to control the defense and toselect orapprove defense counsel. You agree (onot bring any action for Claims against ue, although you reserve the right to bring such claims, to the extent applicable, against the manufacturer of the Equipment. You will promptly notify usofall Claims made. Your liability under this Section io not limited tothe amounts ofinsurance required under the Lease- This indemnity continues beyond the termination of Schedule. for acts or omissions, which occurred during the Lease Term" 3. Each Lease Schedule issued pursuant tothe Master Agreement isamended bydeleting the last sentence of the last paragraph in its entirety and replacing such sentence with the "To the extent permitted under Idaho law, you waive all rights and remedies conferred upon a lessee under Sections 508 — 522 of Article 2A of the Unhbnn Commemia|Codm.^ 4. The provisions ofthis Amendment shall be effective as to all Schedules eo&ynad into on o/after the deha set forth below. All references to the Master Agreement or to a Schedule shall mean such documents as modified bythis Amendment. Except as expressly modified by this Amendment, the terms and conditions of the Master Agreement remain in full force and effect. If there are any conflicts between the provisions of this Amendment and the Master Agreement, the terms ofthis Amendment shall becontrolling- This Amendment may beexecuted inany number Page iof2 of counterparts, each of which shall be an original and all of which, when taken together, shall constitute one and the same document. IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized representatives as of this 10, day of October, 2011. DEERE CREDIT, INC. By: Name: Title: Cl CCALL B Name. r _ Title: Page 2 of 2