HomeMy Public PortalAbout3-Lease Schedule No. 4LEASE SCHEDULE NO. 4
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 $956,993.00, 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 39678140v3
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
a[n C. Gilber
'llage Manager
Lessor
13y:
Name: Lance A'ylsworth
Title: Senior Vice President
Address: illage Hall, Suite 210 Address: 25 West Flagler Street
" 88 West McIntyre Street Miami, FL 33130
Key Biscayne, FL 33149 Attn: Michael Powers
Senior Vice President
Telephone: (305) 365-5514
E-mail address: jgilbert a keybiseayne.fl.gov E-mail address: nuke,powers@cncapitalfinance.com
Telephone: (410) 458-5747
[Signature Page 10 Lease Schedule No. d]
Exhibit 1
Equipment Description
The Equipment subject to this Lease includes the following:
One (I) Pierce Enforcer 107' Ascendant based on FSAI6-VEFI2.0 Spec #9 fire truck.