Copier Lease City Hall Main 5/05-5/10Lease Service Center 3/30/2009 9:16 AM PAGE 2/005 Fax Server
(Page 2 of 5)
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CUSTOMER
INFORMATION
SUPPLIER
INFORMATION
LEASE AGREEMENT
7D OUR VALUED CUSTOMER This Lease has been written in Frain Ergfah'. When we use the wonfs you and your in the tease, we mean you,
our customer, wt>idr is to Lie idIad below. When we use the wads we, us, and our in the Lie we rrean the Lanny, CIT Technology
Rnarxmg Services, be Our addess's P.O. Box 1638. Livingston. NJ 07039.
Lessee Name
City of Okeechobee
Billing Street Address/City /County/State/Zip
55 SE Third Ave. Okeechobee, Okeechobee F1 34974
Equipment Location (if different from above) Lessee Phone No.
(863 X763 -3372
Supplier Name
E.G.P., Inc.
Street Address/City /County /Stata&Zip i4,,, w 11A�iHu(aiaa �`®Iet�4ly /5A10,
EQUIPMENT Quantity rr Make/Model
DESCRIPTION
60
no box is checked or if more than one box is checked, the Fair Market Value Purchase
Lease Payment
Fixed Price Purchase Option of
of the Total Cash Price
You agree to pay at the time you sign this Lease:
A) Total Advance Lease Payment (Mos.)
B) Sales/Use Tax on Advance Lease Payment
C) One -time DoaJmentation Fee 75.00
D)TotalofA +B +C
If more than one Lease Payment is required in advance, the additional
amount will be applied at the end of the initial or any renewal term.
END OF LEASE
PURCHASE
OPTION
TERM AND
LEASE
PAYMENT
SCHEDULE
INSURANCE
AND TAXES
TERMS AND
CONDITIONS
Check one applicable box. If
Option wit apply
t i Fair Market Value Purchase Option
O Fixed Price Purchase Option of
Initial Lease Term (Months)
Additional Provisions
Print Name Title
SEE SCHEDULE A
PERSONAL GUARANTY
Date Print Name Title
Approval 3 (1S b) Z.,
Lease #IOA 'Ca697bt,Qov
Custu,ter# f
Tax ID
"SUPPLIER
Supplier Phone No.
772) 461-1201
Serial Number
PLUS
APPLICABLE
TAXES
PLUS
APPLICABLE
TAXES
You are required to provide and maintain insurance related to the Equipment, and to pay any property, use. and other taxes related
to this Lease or the Equipment. (See Sections 4 and 6 on the back of this Lease.) If you are tax -exempt, you agree to furnish us with
satisfactory evidence of your exemption.
BY SIGNING THIS LEASE: (1) YOU ACKNOWLEDGE THAT YOU HAVE READ AND UNDERSTAND THE TERMS AND CONDITIONS ON THE FRONT
AND BACK OF THIS LEASE: (II) YOU AGREE THAT THIS LEASE IS A NET LEASE THAT YOU CANNOT TERMINATE OR CANCEL, YOU HAVE AN
UNCONDITIONAL OBUGATION TO MAKE ALL PAYMENTS DUE UNDER THIS LEASE, AND YOU CANNOT WITHHOLD, SET OFF OR REDUCE SUCH
PAYMENTS FOR ANY REASON; (it) YOU WILL USE THE EQUIPMENT ONLY FOR BUSINESS PURPOSES; [iv) YOU WARRANT THAT THE PERSON
SIGNING THIS LEASE FOR YOU HAS THE AUTHORITY TO DO SO AND TO GRANT THE POWER OF ATTORNEY SET FORTH IN SECTION 7 OF THIS
LEASE; (v) YOU CONFIRM THAT YOU DECIDED TO ENTER INTO THIS LEASE RATHER THAN PURCHASE THE EQUIPMENT FOR THE TOTAL CASH
PRICE; AND (v1) YOU AGREE THAT THIS LEASE WILL BE GOVERNED BY THE LAWS OF THE STATE OF NEW JERSEY AND YOU CONSENT TO
THE JURJSO$CT ON OF ANY LOCAL, STATE, OR FEDERAL COURT LOCATED WITHIN NEW JERSEY. YOU AND WE EXPRESSLY WAIVE ANY
RIGHTS TO A TRIAL BY JURY.
CIT Technology ing Services. Inc. City of Okeech bee
Lessor L essee
Authorized Si a tank et `,)a cam'
Date
THIS PERSONAL GUARANTY CREATES SPECIRC LEGAL OBUJGATlONS When we use the wads you and your in Iris Personal Guaranty, we mean the Financing Services,
Inconsideration of as ent ri g inb he lease agreement Identlled above (lease), you fir m drone tr and trtewmby gtareit ee 0 e. our successors and assigns
the prompt payrnent and perfarhance at all obligators of the Customer kienetied above I Leered) under the Lease. Yaw agree that Vts Is a Guaranty of payment and
rid of conemon, and that we can proceed directly against you wihout felt proceeding agaist the Lessee or against the equipment covered try the lease. You waive
all defenses and notices, ndudii Ihoee of protest presenbnaH and demand. Yee! agree that we can renew, extend or °Cherwse moldy to terms of the Lease and
you wil be bound by such changes. C the Lessee dermas hider the lease, you wiz irredatey poAtrm at oNigations of the Lessee under to Lee= including, but
not orated b, paying an amounts due under he Lease. You we pay to us a1 expanses (Incc:k grog attorneys' bee incurred by as in enlacing our rights against you or
the Lessee. Ties e a mrI.b1 goraNy which will not be digdiargaf or affected by you' death and ell bind yar hers and representatives Yau wane any
rights to seek repeylrrd tae Its Laces in he erverd you rust pay us if rrhora than one personal guaranla has signed V be Personal Ouaraty, each of you agree
bat you lability is jo and several. You authorize us awry dour ebbs to obbn aedd bureau reports regerdrhg you personal credit and male dhhe aedri bowies
that we determ ne are s
THIS PERSONAL GU =IS IS GOVERNED BY THE LAws OF THE STATE OF NEW JERSEY. YOU CONSENT To THE JURISDICTION OF ANY LOCAL,
STATE, OR FEDERAL COURT LOCATED WITHIN NEW JERSEY. YOU EXPRESSLY WANE ANY RIGHT TO A TRIAL BY JURY.
Personal Guarantor (no title) Personal Guarantor (no title)
Print Name Date
Social Security Number Phone No.
l
Print Name Date
Home Street Address/City/Stale/Zip Home Street Address/City/State/Zip
Social Security Number Phone No.
Lease Service Center 3/30/2009 9:16 AM PAGE
(Page 3 of 5)
1. LEASE; DELIVERY AND ACCEPTANCE. You agree to lease the equipment
described on the front of this lease agreement (collectively 'Equipment') an the Lamm
and conditions shown on the front and back of this lease CLease"), n you have entered
into any purchase or supply contract Contract) with any Supplier. you assign
to us your rights under such Supply Contract, but none of your obligations (other than
the obligation to pay for the Equipment if it is accepted by you as stated below and you
timely deliver to us such documents and assurances as we request). 11 you have rot
entered into a Supply Contract, you authorize us to enter into a Supply Contact on your
behalf. You will arrange for the delivery of the Equipment to yew. When you receive the
Equipment you agree to Inspect it to determine if tt Ls in good working order. This Leese
will begin on the data when the Equipment is delivered to you. The Equipment will be
deemed Irrevocably accepted by you upon the earlier of: a) the delivery to us of a
signed Delivery and Acceptance Certificate (if requested by us); or b) 10 days after
delivery of the Equipment to you if you previously have not given written notice to ue of
your no nen-acceptance. The first Lease Payment is due on or before the date the
Equipment is delivered to you. a the Equipment has been accepted by you in
accordance with this Section 1, the remaining Lease Payments will be due m the day
of each subsequent month (or such other time period slated on the front of this Leese)
specified by us. You will matte all payments required under this tease to us al such
address as we may specify in writing. You authorize us to adjust the Lease Payment by
not more than 15% if the actual Total Cash Price (which is all amounts we have paid in
connection with the purchase, delivery and installation of the Equipment inducting any
trade -up and buyout amounts) dlffers from the estimated Total Cash Price. 0 any base
Payment or other amen( payable to us is not paid within 10 days of its due date, you
will pay us a late charge not to exceed 7% of each late payment (or such teaser rate as
is the maximum rate allowable under applicable law).
2. NO WARRANTIES. !Wit we leasing the Equipment to you "AS.IIS YOU ACKNOWLEDGE
THAT WE 130 NOT MANUFACTURE THE EQUIPMENT, WE 00 NOT REPRESENT THE
MANUFACTURER OR THE SUPPUER, AND YOU HAVE SELECTtED THE EQUIPMENT
AND SUPPLER BASED UPON YOUR OWN JUDGMENT. WE MAKE NO WARRANTIES,
EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF AERCHANTABLRY OR FRNFSS
FORA PARTiCUL.AR PURPOSE OR OTHERWISE. YOU AGREE THAT REGARDLESS OF
CAUSE, WE ARE NOT RESPONSBLE FOR AND YOU YELL NOT MAKE ANY CLAIM
AGAINST US FOR ANY DAMAGES, Wi4ETHER CONSEQUENTIAL, DIRECT, SPECIAL.
OR INDIRECT YOU AGREE THAT NEITHER SUPPLER NOR ANY SALESPERSON,
EMPLOYEE OR AGENT OF SUPPLER IS OUR AGENT OR HAS ANY AUTHORITY TO
SPEAK FOR US OR TO BIND US IN ANY WAY. We taster to you for the term of this Lease
any warrardles made by the menufatuier or Suppler under a Supply Contract.
1 EQUIPMENT LOCATION; USE AND REPAIR; RETURN. You we keep and use the
Equipment only at the Equipment Location shown on the front of this Lease. You may not
move the Equipment without our prior written consent At your own cost end expense, you
we keep the Equipment ellgde for any manufacturer's certification, in compliance wet all
applcable laws and in good condition, except for ordinary wear and tea. You wil not
make any alterations, additions or replacements to the Equipment without our prior written
consent. AS alteatkrn, additions and replacements w11 become part of the Equipment and
our property et ne 0031 or expense to us. We may inspect the Equipment at envy reasonable
time. Unless you purchase the Equipment in accordance with thus Lassa, wiltin 10 days
of the exp or earlier lamination of this Lease you will irtrnedatefy deliver the
Equipment to us In good condition and repair, except for oreflitary wear and tee, to any
pace In the United Slates that we tell you, and upon our request. you will provide us with
e certifiketim from the manufacture or authorized representative as to the Equipments
condition. You will pay all expenses of dainetelling, crating and shipping, and you will
Insure the Equipment for its full replacement value during shipping.
go 4. TAXES AND FEES. You will pay when due, either directly or to us upon our demand,
all taxes, fines and penalties relating to this Lease or the Equipment that am now or h the
future assessed or levied by any state, local or other government authority. We will file an
personal property, use a other tax returns (uriess we notify you otherwise in wiling) and
you agree to pay us a fee ke making such filigs. We do not have to contest any uses.
fines or penalties. You will pay estimated property taxes with each Lease Payment or
annually, as invoiced.
5. LOSS OR DAMAGE. As between you and us, you are responsible for any loss. theft or
destnidion of. or damage to the Equpmert (coledivey 'Loss") from any cause at all
whether or not inured, until it is delivered to us al the end of this Lease. You are required
to make al Lease Payments even 0 there la a Loss. You must notify us in writing
immediately of any Loss. Then, at ow opton, you wig either (e) repair the Equiprtnent so that
it ®ix good amc1tion and working order, eligible for any manufacturer's car tion. or (b)
pay us the amounts specified in Section 9(b) below.
6. INSURANCE_' You MI provide and maintain at your expense (e) properly insurance
against the to theft or destruction of, or damage to the Equipment for its full replacement
value. naming us as less payee. and (b) public liability and third party propery insurance.
fleeing us as an additional insured You will give us certificates or otter evidence of such
insurance when requested. Such insurance cull be in a form, amount and with companies
acceptable to us, end will provide that we wit be given 30 days advance notice of any
cancellation or material change of such insurance_ ff you do not give us evidence of
insurance acceptable to us, we have the right but not the obligation, to obtain insurance
covering our interest in the Equipment for the term of this Lease inducting renewal or
extension& from an insurer of our dsu inducing an insurer that is our affiliate. We may
add the costs of acquiring and reintaining such insurance. and our fees for our services
in pacing end maintaining such insurance (collectively, 'Insurance Charge) to the
amounts due from you under this Lease. You will pay the Insurance Charge in equal
Installments allocated to the remaining Lease Payments. If we purchase insurance, you
win cooperate with our insurance agent with respect to the placerreYnt of insurance and the
processing of claims. Nothing in this Lease wit create an insurance relatio ship of any type
between us and any other person You acknowledge that we are nol required to secure or
maintain any immense, and we will not be liable to you 0 we terminate any rnsuranco
coverage that we arrange. If we replace or renew any insurance coverage. we are not
obligated to provide replacement err renewal coverage underthe same terns, costs, timlts,
or conditions as the previous coverage.
7. TfTLE; RECORDING. We am the owner of and will hold title to the Equipment. You win
keep the Equipment free of all lens and encumbrances. Unless the Purchase Option price
shown on the front of this lease is 11.00. you agree that this transaction is a bue lease.
However, if this transaction is deemed to be a lease intended for security, you grant us a
purchase money warily interest in the Equipment (ndisE g any uepsoanenb. subslibrtcns,
additions, attachments and proceeds). You w11 delver to em signed Ihattthg statements or
other doasnents we request to protect our interest in the Equipment YOU AUTHOR/2E
US TO FILE A COPY OF THIS LEASE AS A FINANCING STATEMENT AND APPOINT
US OR OUR DESIGNEE AS YOUR ATTORNEY -IN -FACT TO EXECUTE AND/OR
FILE. AT ANY TiME, FINANCING STATEMENTS COVERING THE EQUIPM ENT.
8. DEFAULT. Each of the foltovdng is a 'Default' under this Lease: (a) you fail to pay
1
3/005 Fax Server
any Lease Payment or any other payment within 10 days of Its due date; (Wean do rot
perform any of your other obllgatlons under this Leese or In any other agreement with
us or with any of our affileteas and this faikee continues for 10 days after wile have notified
you of it; (c) you become Insolvent, you d or aro dissolved, you assign your
assets for the benefit of your creditors, you sell, transfer or otherwise dlspose of all or
substantially all of your assets, or you enter (voluntarily or involunta0y) any blankly ppl1ccyy or
reorgan®tian proceeding; (d) without our iris-written consent, you merge or cored
with any other entity end you ere not the survivor of such merger or OonSotdation; (a) any
guareitor of this Lease dies, does nol perform Its obligations under the guaranty, or
becomes subject to one of the events listed in clause (c) above.
9. REMEDIES. If a Default occurs, we may do one or more of the following: (a) we may
cancel or terminate this Lease or any or all other agreements that we have entered into
wen you: (b) we may require you t0 immediately pay us, as compensation for loss of
our bargain and nol as a penalte a sum equal to (i) the present value of an unpaid
Lease Payments for the remainder of the term plus the present value of our anticipated
residual Interest in the Equipment, each discounted at S% per year, compounded
monthly. plus (i) all other amounts due or that become due under this Leese; (c) we
may require you to deliver the Equipment to us as set forth n Section 3; (d) we or our
agent may peacefully repossess the Equipment without court order and you will not
make any daims against us tar damages or trespass or any other reason; and (e) we
may exercise any other Ogle or remedy available at taw or in equity. You agree to pay
all of our costs of enforcing our eights against you, including reasonable attorneys'
fees. If we take possession of the Equipment, we may eel or otherwise d of it
with or without notice, at a public or private sale, and apply the net proceeds (after we
have deducted all costs related to the sate or disposson of the Equipment) to the
amounts that you arm us. You agree that if notice d sales required by taw to be given,
10 days' notice shall constitute reasonable notice. You will remain responsible for any
amounts that are due after we have appled such net proceeds.
10. FINANCE LEASE STATUS.You agree that F Article 2A -Leases of the tlnnorm
Commercial Code apples to this Lease, this Lease wit be considered a'finance lease
es that farm is defined in Article 2A By signing this Lease, you agree that either (a) you
have reviewed, approved, and received, a copy of the Supply Contract or (b) that we
have informed you of the Identity of the Suppler, that you may have rights under the
Supply Contract, and that you may contact the Supplier fora description of those rights.
TO THE EXTENT PERMITTED BY APPUCABLE LAW, YOU WAIVE ANY AND ALL
RIGHTS AND REMEDIES CONFERRED UPON A LESSEE BY ARTICLE 2A.
11. ASSIGNMENT. YOU MAY NOT ASSIGN, SELL, TRANSFER OR SUBLEASE THE
EQUIPMENT OR YOUR INTEREST IN THIS LEASE. We may, without notdying you,
sag, assign. or transfer this Lease and our rights in the Equipment You agree that the
new owner IOU have the same rights and benefits that we have now under this Lease
but not our obligations. The rights of the new owner will not be subject to any claim,
defense or setoff that you may have against us.
12. PURCHASE OPTION; AUTOMATIC RENEWAL if no Default exists under this
Lease, you will have the option at the end of the Initial or any renewal term to purchase
all (but not less than alt) of the Equipment at the Purchase Option price ahowm on the
front of this Lease, plus any applicable takes. Unless the Purchase Option price is
11.00, you must glue us at least 90 days written notice before the end of the Mist lease
term, or any renewal term. That you will purchase the Equipment or that you ail return
the Equipment to us. If you do not give us such written notice or if you do not purchase
or deliver the Equipment in accordance with the terms of this Lease, this Lease will
automaticalty renew for successive 3 month renewal terms. During such renewal
term(s) the Lease Payment will remain the same. We may cancel an automatic renewal
term by sending you written notice 10 days prior to such renewal term. Y the Fair
Market Value Purchase Option has been selected, we veil use our reasonable judgment
to determine the Equipments in use and in place fain market value. 11 you do not agree
with our determination of the Equipments lair market value, the fair market value an
use and n place) well be determined al your expense by an independent appraiser
selected by us. Upon payment of the Neches* Option price, we shall transfer our interest
in the Equipme1 to you AS IS, WHERE IS" without any representation or warranty
whatsoever and this Lease will terminate.
13. INDEMNIFICATION. You are responsible for any losses, damages, penalties. claims,
suits and actions (collectively 'Claims"), whether based on a theory of strict (lability or
utherwiae caused by or related to (a) the manufacture, kntaltation, ownershp, use,
base, possession, or delivery of the Equipment or (b) any defects in the Equipment
You agree to reimburse us for and if we request to defend us against, any Claims.
14. CREDIT INFORMATION. YOU AUTHORIZE US OR ANY OF OUR AFFILIATES TO
OBTAIN CREDIT BUREAU ORTS, AND MAKE OTHER CREDIT INQUIRIES THAT
WE DETERMINE ARE N. ON YOUR WRITTEN REQUEST, WE WILL
INFORM YOU WHETHER WE HAVE REQUESTED A CONSUMER CREDIT REPORT
AND THE NAME AND 'ADDRESS OF ANY CONSUMER CREDIT REPORTING
AGENCY THAT FURNISHED A REPORT. YOU ACKNOWLEDGE THAT WITHOUT
FURTHER NOTICE WE MAY USE OR REQUEST ADORIONAL CREDIT BUREAU
REPORTS TO UPOATE OUR INFORMATION 50 LONG AS YOUR OBLIGATIONS TO
US ARE OUTSTANDING.
13, MISCELLANEOUS. You agree that the terms and conditions contained in
this Lease make up the entire agreement between you and us regarding the
lease of the Equipment. This Lease is not lending on us until we sign it. Any
change in any of the terms and conditions of this Lease must be in writing and
signed by us. You agree, however, that we are authorized, without notice
to you, to supply missing Information or correct obvious errors In this
Lease. If we delay or fail to enforce any of our rights under this Leese, we will
still be entitled to enforce those rights at a later time. All notices shall be
given in writing by the party sending the notice and shell be effective when
deposited In the U.S. Mall, addressed to the party receiving the notice at its
address shown on the front of this Lease (or to any other address specified
by that party In writing) with postage prepaid. All of ow rights and indemnities
will survive the termination of this Lease. It is the express intent of the parties
not to violate any applicable usury laws or 10 exceed the maximum amount of
time price differential or Interest, ■s applicable, permitted to be charged or
collected by applicable law, and any such excess payment will be applied to
Leese Payments in inverse order of maturity, and any remaining excess will
be refunded to you. If you do not perform any of your obligations under this
Lease, we have the right, but not the obligation, to take any action or pay any
amounts that we believe ere necessary to protect our interests. You agree to
reimburse us Immediately upon our demand for any such amounts that we
pay. If more than one Leeaee has signed this Lease, each of you agrees that
your liability is joint and several.
07104
Loose Number
Customer Number
Lessee Namo
City of Okeechobee
Authorized
Sl Hato
Title
Date
DEC704- 2006(MON) 15:04 EGP INC FT. PIERCE
(FAX)17724612710 P.002
ECOA NOTICE
NOTICE: If your application for business credit le denied,
you have the right to a written statement of the specific
reasons far the denial. To obtain the statement. please
contact Credit Disclosure Administrator, Cif Technology
Financing Services, Inc.,4600 Touchton Road East, Bldg.
100, Suite 300, Jacksonville, FL 32246 (888) 248 -2792
within 130 days from tho date you are notified of our decision.
We will send you a written statement of the reasons for the
denial within 30 days of receiving your roquast for the
statement The federal Equal Credit Opportunity Au prohibits
creditors from discriminating against credit applicants on the
basis of race, color, religion. national origin, sex. marital
slalus. age (provided the applicant has the capacity to enter
Info o binding contract); because all or part or the applicant's
Income derives from any public assistance program: or
because the applicant has In good faith exercised any right
under the Consumer Credit Protection Act. The federal
agency that administers compliance with this taw concerning
the creditor is the Federal Trade Commission. Equal Credit
Opportunity, Washington, DC 205811_
TO BE RETAINED BY APPLICANT
(DETACH HERE)
DEUVERY&ACCEPTAN CE
DELIVERY 8 ACCEPTANCE CERTIFICATE
By signing below, you, the Lessee, agree:
A) That all equipment described In the tease identified below
('Equipment') has boon delivered. Inspected, installed. and is
unconditionally and Irrevocably accepied by you as satisfactory for
all purposes of the lease; and
8) Thet we, C1T Technology Financing Semites, inc.. aro
authorized to purchase the Equipment and start billing you
under the lease.
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DEC- 04- 2006 (MON) 15 27 EGP INC FT. PIERCE
Quantity Equipment Model Serial
Description
1 Kyocera Copier 5035
1 Kyocera Doc Feed SRDF2
1 Kyocera Paper Deck PF75
1 Kyocera Finisher DF73
1 Kyocera Att. Kit AK71c
1 Print/ Scan U
Lessee: City of Okeechobee
Ey: JDL
Date:
SCHEDULE A
Title: c :€1 4cLrv\
(FAX) 17724612710 P. 001
Lease Service Center 3/30/2009 9:16 AM PAGE 1/005 Fax Server
CUSTOMER SERVICE DEPARTMENT
Fax Notes:
From: Name: Customer Service
Fax Number:
Voice Phone: 888- 248 -2792
E -mail: Betty
To:
Date and time of transmission: 3/30/2009 9:16:08 AM
Number of pages including this cover sheet: 5
Name: Betty
Company:
Fax Number: 1- 863 763 -1686
Voice Phone:
Convenient 24/7 self- service capabilities
AND
Quick Access to the Information You Need!
Find us at www.QDSontheweb.com
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ANT AMOXI ra TO m1EvT140.900.0069702-
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Ma Addend= is mode a part of the lean apseip ("A t'i) identified
above by and between Okeechobee, City of Cliental and CTT Technology Financing
2e Mon, ho. C7.oaavv'). Capttalizad terns "net and not derma will have the same
meaning gives to thiamin tbeAgreement.
The parties agree that item(e) of Bquipsztent:
&O n:0 setts' Nto.
Fax Board J
01'067
Have been added by the Sepli'er to those item ofBquipruetit'oslgiaaily listed on the
Agreement's Sept/nett Deeorlption•
The parties also agree that tha moat lean ayrn ®t of 3125,31 (®xoluding any
sales tat) will now be 6137,97 (mi:ding sales teas am®ded to reflex the addition of
the Bq seaf safasenotd abavu.
This Addestluza avppl and 497ae0d3 tha A,greatnrat outy to Ike Went and in
the manner Aet forth, sad in a1L othaxrespects tha Agreement will xen n1n In !till ?brae raid
et68ot.
Luxor: MT Technology Financing
Services, Ina.
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Contract Number
9000089702000
Document'Type
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OKEECHOBEE CITY OF
Old Contract Number
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10/27/2005
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DEC-7.04-2006 (MON) 15 :27 EGP INC FT. PIERCE
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CUSTOMER
INFORMATION
Lessee Name
City of Okeechobee
Billing Street Address/City /State/Zip 34974
55 SE Third Ave. Okeechobee 1'
This Addendtun supplements the provisions of the Lease
Agreement Identified by the Lease Number and/or Schedule
Number specified above "Lease You and we make this
Addendum an integral part of the Lease. Capitalized terms
used in this Addendum that are not defined will hnve the
meanings specified in the Lease. If there is any conflict
between the Lease and this Addendum, then this Addendum
will control and prevail.
1. Title. We will hold title to the Equipment. If (a) you
have not terminated this Lease in accordance with Section 16
of this Lease and (b) no Default exists, then upon your
payment to us of all Lease Payments and other amounts duc
under this Lease, nt the end of the term of this Lease, you
will be entitled to our inlet in the Equipment, "AS IS.
WHERE IS, without any warranty or representation from
us, express or implied, other than the absence of any liens by,
through or under us. This Section replaces Section 7 of
this Lcnsc entitled "Title; Security Interest'.
2. Funding Intent. You reasonably believe that funds can
be obtained sufficient to make all 1 rase Payments and other
payments during the term of this Lease. You agree that your
chief executive or administrative officer (or your
administrative office that has the responsibility of preparing
the budget submitted to your governing body, as applicable)
will pmvidc for funding for such payments in your annual
budget request submitted to your governing body. If your
governing body chooses not to appropriate funds for such
payments, you agree that your governing body will evidence
such non appropriation by omitting funds for such payments
due during the applicable fiscal period from the budget that it
adopts. You and we agree that your obligation to make
Lease Payments under this Lease will be your current
expense and will not be interpreted to be a debt in violation
of applicable law or constitutional limitations or
requirements. If a Dcfltult occurs, any judgment obtained
against you will be enforceable solely against revenues
allocated by your governing body for such purpose. Nothing
contained in this Lease will be interpreted as a pledge of
Date
Authorized Slgnat}trq
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(FAX)17724612710 P. 002
State and Local Government
Lease Purchase Addendum (Florida)
Lease
Schedule
Annual Rate of Interest
ya
your general tax revenues, funds or moneys. Regardless of
any other provisions of this Lease, no ad valorem tnxes are
pledged to the payment of any amount due under this Lease.
Also, all amounts due under this Lease will be paid only
from funds arising from sources other than ad valorem
taxation unless one of the following conditions is satisfied:
(i) you are a county and the term of this Lease is sixty (60)
months or less; (ii) you are a school district and the terra of
this Lease is twelve (12) months or less; or (iii) you arc a
municipality and if you are a home rule city, your charter
does not prohibit the payment of amounts due under this
Lease from ad valorem taxation revenues. This Section 2
replaces Section 15 of this Lease entitled "Funding Intent".
3. Non appropriation of Funds. If (a) sufficient funds are
not appropriated and budgeted by your governing body in any
fiscal period for Lease Payments or other payments duc under
this Lease, and (b) you have exhausted all funds legally
available for such payments, than you will give us written
notice and this Lease will terminate as of the last day of your
fiscal period for which funds for Lease Payments are
available. Such termination is without any expanse or penalty,
except for the portions of the Lease Payments and those
expenses associated with your return of the Equipment in
accordance with Section 3 of this Lease for which funds have
been budgeted and appropriated or are otherwise legally
available. Upon such termination, all of your rights and
interests in the Equipment will vest in us. This Section 3
replaces Section 16 of this Lease entitled "Non- appropriation
of Funds
4. Choice of Law. Regardless of tiny conflicting
provisions in this Lease, THIS LEASE WILL BE
GOVERNED BY TILE LAWS OF THE STATE OF
FLORIDA. This Section 4 replaces Section 19 of this
Lease entitled "Governing Law
Lessor CIT Technology Financing Services, Inc.
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