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HomeMy Public PortalAbout2005 08/18 Toro FinancingLessee: Date: 'naming MCCALL, CITY OF August 18, 2005 Master lease # 4375425 Lease Schedule# 4375425-002 Thank you for letting us help you finance your new Toro equipment. We appreciate your business. To complete your lease, PLEASE SIGN THE ENCLOSED DOCUMENTS AND RETURN TO US AS FOLLOWS: ✓ Master Lease Schedule, signed by: AN OFFICER OF THE COMPANY ✓ Completed Bill To/Ship form ✓ Completed Insurance Letter. ✓ Important: Include your advance payment in the amount shown on the attached invoice. (Please include the remittance portion of the invoice.) V. Delivery and Acceptance document, signed by: AN OFFICER OF THE COMPANY ✓ Payment Amendment, signed by: AN OFFICER OF THE COMPANY ✓ Fiscal Funding Addendum signed by: AN OFFICER OF THE COMPANY ✓ Please provide us with a copy of your Tax Exempt Certificate. Please return original, ink -signed documents in the enclosed envelope. General Electric Capital Corporation Attention. Contracts Department 3000 Lakeside Drive Bannockburn, IL 60015-0828 If you have any questions, please do not hesitate to call. We look forward to our leasing relationship with you, and will be happy to assist you in any way possible. Sincerely, General Electric Capital Corporation Equipment Model & Description 1 TURFCO WIDE SPIN Lease Schedule # 4375425-002 Master Lease Agreement # 4375425 Serial Number Contracted Hours (FMV Only) 0.600 601-900 901-1200 Equipment Location (if different from Billing Address) E TURF EQUIPMENT & IRRIGATION,INC Name 8169 SOUTH STATE STREET Address MIDVALE City UT State 84047 Zip "Master Agreement" shall mean the above referenced Master Lease Agreement "Schedule" shall mean this Lease Schedule. "Lease" shall mean this Schedule and the Master Agreement. YOU HAVE SELECTED THE EQUIPMENT. THE SUPPLIER AND ITS REPRESENTATNES ARE NOT OUR AGENTS AND ARE NOT AUTHORIZED TO MODM1r THE TERMS OF THIS LEASE. YOU ARE AWARE OF THE NAME OF THE MANUFACTURER OF EACH ITEM OF EQUIPMENT AND YOU WILL CONTACT EACH MANUFACTURER FOR A DESCRIPTION OF YOUR WARRANTY RIGHTS. WE MAKE NO WARRANTIES TO YOU, EXPRESS OR IM PLIED, AS TO THE MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, SIR -ABILITY, OR OTHERWISE. WE PROVIDE THE EQUFMENT TO YOU AS -IS. WE SHALL NOT BE LIABLE FOR CONSEQUENTIAL OR SPECIAL DAMAGES. YOUR PAYMENT OBLIGATIONS ARE ABSOLUTE AND UNCONDITIONAL AND ARE NOT SUBJECT TO CANCELLATION, REDUCTION OR SETOFF FOR ANY REASON WHATSO- EVER. BOTH PARTIES AGREE TO WANE ALL RIGHTS TO A JURY TRIAL. THIS LEASE SHALL BE GOVERNED BY THE LAWS OF 11.1.0100. YOU CONSENT TO THE JURISDICTION AND VENUE OF FEDERAL AND STATE COURTS IN ILUNOE. ALL OF THE TERMS AND CONDITIONS SET FORTH IN THE MASTER AGREEMENT ARE HEREBY INCORPORATED INTO THIS SCHEDULE. BY SIGNING THIS SCHEDULE, YOU AGREE TO THE TERMS OF THIS SCHEDULE AND THE MASTER AGREEMENT. ORAL AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT ARE NOT ENFORCEABLE. TO PROTECT YOU AND US FROM MSUN- DERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS WE REACH COVERING SUCH MATTERS ARE CONTAINED IN THIS WRITING, WHICH IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN US, EXCEPT AS WE MAY LATER AGREE IN WRITING TO MODIFY IT. General Electric Capital Corporation 3000 Lakeside Dr, Bannockburn, IL 60015 By: Name: Title: Date: Page 1 of 1 Equipment Purchase Price $8,629.00 Sales Tax $0.00 Total Purchase Price $8,629.00 Lease Payment SEE AMENDMENT (plus applicable taxes) Term 60 months `LEASE RATE FAeron 0.041084 Billing Period: Monthly The following additional payments are due on the date this Agreement is signed by you: SECURITY DEPOSIT $ 0.00 ADVANCE PAYMENT $354.51 Applied to: © first ❑ last (plus applicable taxes) DOCUMENT FEE $250.00 (included on first invoice) MCCALL, CITY OF Full Legal Name D/B/A 218 E PARK ST Billing Address MC CALL City Contact Name By: X ID State 208-634-4852 Phone c 83638 Zip Email Address Signature of Authorized Signer Name: K;(.1 `Li,,„ArS Please Print Title: ifY \n.yr)r Date: g.o,5_05 Date of Signature Fed Tax ID Q a- Visit us at www.torofinancing.com Toro 1122(a) Sched 04/02 PLEASE COMPLETE AND RETURN WITH SIGNED LEASE AGREEMENT NAME ADDRESS CITY, ST ZIP ATTENTION NAME ADDRESS CITY, ST ZIP ATTENTION Lease Agreement No. 4375425-002 SHIP TO: (\-S i\Nt-"Sa cCA BILL TO: (If different than SHIP TO address) FEDERAL TAX ID # CONTACT NAME: PHONE NUMBER: e- --\-)Qt.Yr . VERIFICATION INFORMATION: Caoq - 487(1 BEST TIME TO REACH: Please Complete and Return with Signed Lease Agreement * * *send a copy of this to your insurance provider * * * Lease Application Number: 4375425-002 Lessee Name: MCCALL, CITY OF Address: 216 E PARK ST City, State, Zip: MC CALL, ID, 83638 Agency Name: Agent: Address: City, State, Zip: Telephone Number: Agency Name: Agent: Address: City, State, Zip: Telephone Number: PROPERTY INSURANCE CARRIER INFORMATION ICRP N0.rTwc1l 0� ` \ar�i✓� 6�r?c�l� i aao c Risk Ca(0( q3 t,e).5 CD.os) H5-9 — 1 b 78 LIABILITY INSURANCE CARRIER INFORMATION �cki"P 4CAttfr.[1 Cot pAPA:1-119" ✓harti,n L. j Cletwie,rl Rivet Cc(c�w�l1 Zd} 3 bob I b 74 IMPORTANT Under the terms and conditions of your Lease Agreement, you are required to carry adequate insurance coverage on the leased equipment. Make sure that your agent understands that you are financing or leasing the equipment and that your policy conforms with the following: 1. Property or physical damage coverage for the replacement cost value of the Equipment or the stipulated casualty value, whichever is higher. Maximum Deductible: $10,000.00 2. General Liability Coverage: for all FMV Leases and $1 Leases over $500,000. Amounts of - $1,000,000 per occurrence combined single limit (or $5,000,000 with respect to registered Equipment) unless stipulated otherwise. Maximum Deductible: $10,000.00 3. Additional InsurecVLoss Payee Endorsement naming "General Electric Capital Corporation and its successors and assigns". "Claims -Made Policies" are NOT acceptable. 4. Fifteen (15) Days written notice of cancellation, non -renewal or amendment, 5. Equipment listed on, or schedule attached to, the evidence of insurance. Insurance Inquires should be made to Customer Service at 1-800-533-9917. Please send an ACORD FORM 27 (sample attached) or ACORD FORM 28 evidencing adequate insurance coverage to: General Electric Capital Corporation Attention: Contracts Department 3000 Lakeside Drive, Suite 200N Bannockburn, IL 60015-0828 Fax: 800-786-0456 Lessor: GE Capital Corporation / VFS PO Box 828 Deerfield, IL 60015 Equipment DELIVERY AND ACCEPTANCE NOTICE Lease Agreement No. 4375425-002 Lessee: MCCALL, CITY OF QUANTITY DESCRIPTION 1 TURFCO WIDE SPIN L essee pay essor at essor, or at p e as Lessor may hereafter designate, such amounts as set forth on such Lessee's individual lease schedule in connection with the Lease number set forth above commencing upon delivery of the leased equipment and on the first day of each consecutive month thereafter for a period of time as set forth in such Lessee's individual lease s chedule. shall L the office of L such other lac ACCEPTANCE NOTICE As evidenced by this Equipment Acceptance Notice, we acknowledge receipt, in good condition and satisfactory installation of all of the items described above and certify that Lessor has fully and satisfactorily performed each, every and all covenants and conditions to be performed by it under the Lease Agreement between Lessor and Lessee. We authorize you to pay the supplier for the equipment, supplies, and/or independent maintenance agreement(s). We accept the above -mentioned equipment "as is" programmed or not programmed (if applicable), and waive insofar as Lessor and its assignees are concerned any reservations as to condition, correctness, capability or capacity of the equipment or associated software or the equipment and software in conjunction, and understand that any shortcomings in the equipment, its operation or programming, without reservation, will not be grounds for withholding of any payments due or to become due under the aforementioned lease. The equipment described herein is not being accepted on a trial basis. In the event that decal or metal plates have been supplied, they have been affixed. WE AGREE THAT THE LEASE BETWEEN LESSOR AND LESSEE IS THE ONLY LEASE, SALE OR FINANCE ARRANGEMENT THAT WE HAVE ENTERED INTO FOR THIS EQUIPMENT, AND WE ACKNOWLEDGE THAT THE LESSOR IS NOT AN AGENT OF THE VENDOR (EQUIPMENT SUPPLIER) NOR IS THE VENDOR THE AGENT OF THE LESSOR. BY SIGNING BELOW YOU REPRESENT THAT YOU HAVE AUTHORITY TO ENTER INTO THE LEASE AND BY SO DOING YOU WILL NOT VIOLATE ANY LAW OR AGREEMENT. LESSEE:` M DCCCA`LL, CITY OF BY: X `W"� �t TITLE: X ' `�y o f INSTALLATION DATE: X Lessee's acknowledgement of receipt of equipment AMENDMENT This Amendment amends and supplements that certain Equipment Lease Agreement No. 4375425 002 dated as of 2005 (the "Lease"), by and between GENERAL ELECTRIC CAPITAL CORPORATION ("Lessor, and MCCALL, CITY OF ("Lessee"). All capitalized terns used in this Amendment which are not otherwise defined herein shall have the meanings given to such terms in the Lease. The words "you" and "your" mean the Lessee named above. The words "we", "us", and "our" refer to the Lessor named above. Lessor and Lessee have agreed to amend the Lease as follows: The following terms as they appear in the Section entitled "TRANSACTION TERMS" on the face of the Lease, are replaced with the following: Monthly Payment Schedule Payment # Due Date 1 1-Sep-05 2 1-Oct-05 3 1-Nov-05 4 1-Dec-05 5 1-Jan-06 6 1-Feb-06 7 1-Mar-06 8 1-Apr-06 9 1-May-06 10 1-Jun-06 11 1-Jul-06 12 1-Aug-06 13 1-Sep-06 14 1-Oct 06 15 1-Nov-06 16 1-Dec-06 17 1-Jan-07 18 1-Feb-07 19 1-Mar-07 20 1-Apr-07 21 1-May-07 22 1-Jun-07 23 1-Jul-07 24 1-Aug-07 Except as specifically a mended herein, all other provisions of the Lease shall remain in full force and effect. Amount Due $354.51 $354.51 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $354.51 $354.51 $354.51 $354.51 $354.51 $354.51 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $354.51 $354.51 $354.51 $354.51 Payment # 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 Due Date Amount Due 1-Sep-07 $354.51 1-Oct 07 $354.51 1-Nov-07 $0.00 1-Dec-07 $0.00 1-Jan-08 $0.00 1-Feb-08 $0.00 1-Mar-08 $0.00 1-Apr-08 $0.00 1-May-08 $354.51 1-Jun-08 $354.51 1-Jul-08 $354.51 1-Aug-08 $354.51 1-Sep-08 $354.51 1-Oct 08 $354.51 1-Nov-08 $0.00 1-Dec-08 $0.00 1-Jan-09 $0.00 1-Feb-09 $0.00 1-Mar-09 $0.00 1-Apr-09 $0.00 1-May-09 $354.51 1-Jun-09 $354.51 1-Jul-09 $354.51 1-Aug-09 $354.51 Payment # Due Date Amount Due 49 1-Sep-09 $354.51 50 1-Oct-09 $354.51 51 1-Nov-09 $0.00 52 1-Dec-09 $0.00 53 1-Jan-10 $0.00 54 1-Feb-10 $0.00 55 1-Mar-10 $0.00 56 1-Apr-10 $0.00 57 1-May-10 $354.51 58 1-Jun-10 $354.51 59 1-Jul-10 $354.51 60 1-Aug-10 $354.51 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized representatives as of the date of the Lease. LESSOR: GE CAPITAL CORPORATION By: Name: Title: 4375425002addendum LESSEE: MCCALL, CITY OF By: Name: 14114. Title: tc\ck y or GE Capital Fiscal Funding Agreement ADDENDUM to Lease Agreement No. 4375425 and/or Purchase Order between GE CAPITAL, CORPORATION (Lessor) and MCCALL, CITY OF(Lessee) Customer PO# : Equipment Quantity Equipment Description 1 TURFCO WIDE SPIN The above described Lessee ("Lessee") warrants that appropriate funds are available to pay rental amounts and other amounts due or to become due under the Lease ("Lease Payments") during its current fiscal period. If during any fiscal period of Lessee its legislative or governing authority does not appropriate sufficient funds to pay all Lease Payments during the succeeding fiscal period, the Lease shall terminate and be cancelled at the end of such current fiscal period, and Lessee shall immediately, upon the expiration of such current fiscal period, surrender possession of the above described equipment (the "Equipment"). The obligation of Lessee to make all Lease Payments for which funds have been appropriated shall survive termination of the Lease due to an act of non -appropriation. Lessee shall provide Manufacturer and Dealer Services, LLC with written notice of any act of non -appropriation and consequent non -availability of funds sixty (60) calendar days prior to the end of the then current fiscal period for which funds are available. During the succeeding fiscal period following termination of the Lease due to an act of non -appropriation, Lessee agrees, to the extent permitted by the laws of its State ("State Laws"), not to purchase, lease, rent, or otherwise acquire property or services to perform the same functions as the leased property, or agrees, to the extent permitted by State Laws, not to permit such functions to be performed by any agency or entity affiliated with or hired by Lessee; however, these restrictions shall not apply to the extent that application would affect the validity of the Lease under State Laws. LESSEE: MCCALL, CITY OF LESSOR: GE CAPITAL CORPORATION BY: �, BY: PRINT NAME: K;, :v..e YS PRINT NAME: TITLE: PAzior TITLE: DATE: �_� S_ 0F, DATE: rev. 9/99 7ce4 Egatitoteat e°mfteute, (4 ?dead. 3651 Overland • Boise, Idaho • 83705 (208)331-0074 FAX (208) 331-0076 oft TORO S Ne6// CUSTOMER'S CODE NUMBER 49504 AUTHORIZED BY SALESMAN Clpisilen5e/'7 o /-re) 614-14 �71) 13438 . H G1.0404- 616Wie,. E I P T O SHIP VIA INVOICE DATE INVOICE COPIES OTHER 1 2 3 4 CREDIT APPROVAL TERMS DATE ENTERED ENTERED BY CUST. ORDER NO. / 36 CUST REQ. NO. PREPAID COLLECT SHIP FROM F.O.B. WHEN TO SHIP B.L. NO. DATE SHIPPED 1T! M Numsg 85004 DESCRIPTION -TarePeo 1,41/,P7 ,5:oiA/ /6.3C) ,less -724.0 7o2b 4113. QV LIST gM O� FILLED BY CONDITIONS OF SALE: It is agreed that title and ownership of above listed merchandise is to remain with Turf Equipment and Irrigation, Inc_ until all such indebtedness and finance charges are fully paid. It is further agreed that if the foregoing account is placed for collection, the puirchaser agrees to pay reasonable attorney fees, costs, and interest. In the event the buyer defaults on payment of this sale, the buyer hereby irrevocably grants to the seller the right to enter at any time, with or without notice, any premises wherein the within described property may be located, to take possession of property. The buyer expressly waives any right or action that may accrue by reason of seller taking possession of property. ILL PAST DUE ACCOUNTS WILY BE CHARGED A FINANCE CHARGE OF 1'2% PER MONTH. THIS IS AN ANNUAL RATE OF 18%. %f I ' /71/' � f- -- / SALES RECEIVED BY X l/` CI /� G`�' ONO.R INVOICE SlJB TOTAL SAC- S,TAX TOTAL 1 /0Z9 ao