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Home My Public Portal About2-Lease Schedule No. 3LEASE SCHEDULE NO. 3 to Master Lease Purchase Agreement Dated April 21, 2017 This Lease Schedule (this "Lease Schedule") relates to the Master Equipment Lease Purchase Agreement dated as of March 2, 2017 (the "Agreement") between the undersigned Lessor and Lessee, together with the terms and conditions of the Agreement incorporated herein by reference, constitutes a Lease. Unless otherwise defined herein, capitalized terms will have the same meaning ascribed to them in the Agreement. All terms and conditions of the Master Lease are incorporated herein by reference. 1. Equipment Description. As used in the Lease, "Equipment" means all of the property described in Exhibit 1 attached to this Lease Schedule and all attachments, additions, accessions, parts, repairs, improvements, replacements and substitutions thereto. 2. Purchase Price. The Purchase Price for the Equipment is $44,008.20, which amount will be deposited in an account (the "Project Account") pursuant to a pay proceeds direction dated the date hereof from Lessee to Lessor. 3. Rental Payments; Lease Term. The Rental Payments to be paid by Lessee to Lessor, the Lease Date of this Lease and the Lease Term of this Lease are set forth on the Payment Schedule attached to this Lease Schedule as Exhibit 2. 4. Project Account. (a) Disbursements from the Project Account shall be made for the purpose of paying the costs of acquiring the Equipment. No disbursement from the Project Account shall be made unless and until (i) Lessor has approved a requisition from Lessee in the form of Disbursement Request attached hereto as Exhibit 3, stating each amount to be paid and the name of the person, firm or corporation to whom payment thereof is due and with supporting invoices attached thereto, and (ii) Lessor has received evidence of insurance required by the Agreement in form and substance satisfactory to Lessor. Each such requisition shall be signed by an authorized representative of Lessee. When the Equipment is delivered, installed and accepted, Lessee shall promptly execute and deliver to Lessor an Acceptance Certificate for the Equipment. (b) Any portion of the this Lease Schedule on deposit in the Project Account not applied to costs of the Equipment and remaining on the date on which Lessee executes a final Acceptance Certificate, shall be applied by Lessor on any Payment Date to all or a portion of the Rental Payment due and owing in the succeeding twelve (12) months and any remaining amounts shall be applied by Lessor pro rata to the principal portions of the Rental Payments remaining outstanding hereunder. (c) Proceeds of this Lease Schedule on deposit in the Project Account upon an Event of Default shall be paid to Lessor and applied to the outstanding obligations of Lessee under the Lease. 5. Essential Use; Current Intent of Lessee. Lessee represents that (a) the use of the Equipment is essential to Lessee's proper, efficient and economic functioning or to the services that Lessee provides to its citizens, (b) the Equipment will be used by Lessee only for the purpose of performing its governmental or proprietary functions consistent with the permissible scope of its WCSR 39666698v3 IN WITNESS WHEREOF, Lessor has caused this Lease Schedule to be executed in its corporate name by its duly authorized officer, and Lessee has caused this Lease Schedule to be executed in its name by its duly authorized officer. VILLAGE OF KEY BISCAYNE, FLORIDA CITY NATIONAL BANK OF FLORIDA Lessee By: itle: John C. Gilbert 'illage Manager Add ess Village Hall, Suite 210 88 West McIntyre Street Key Biscayne, FL 33149 Telephone: (305) 365-5514 E-mail address: jgilbert c@i keybiscayne.fLgov Lessor By: Name: Lance A5'lsworth Title: Senior Vice President Address: 25 West Flagler Street Miami, FL 33130 Attn: Michael Powers Senior Vice President Telephone: (410) 458-5747 E-mail address: mike.powers@cncapitalfmance.com [Signature Page to Lease Schedule No. 3] Exhibit 1 Equipment Description The Equipment subject to this Lease includes the following vehicles to be used in Lessee's code enforcement operations: • Two (2) 2017 Ford C -Max (P5A) SPEC #22 • One (1) 2017 Ford Y2 Ton Extended Cab Pickup Truck Special Service Vehicle Exhibit 2 Payment Schedule Interest (at 1.53% per Outstanding Prepayment Payment Date Rental Payment annum) Principal Balance Price* 4/21/2017 $44,008.20 n/a 4/21/2018 $11,426.07 $673.33 $10,752.74 33,255.46 n/a 4/21/2019 11,426.07 508.81 10,917.26 22,338.20 $22,338.20 4/21/2020 11,426.07 341.77 11,084.30 11,253.90 11,253.90 4/21/2021 11,426.07 172.17 11,253.90 Total $45,704.28 $1,696.08 $44,008.20 *After payment of Rental Payment on corresponding Payment Date.