EGP Inc (Fire Dept Copier)RWE1IDE BANK
660 U.S. Highway 1
North Palm Beach, FL 33408
Phone: 561-842-1454; Fax: 561-842-1676
Susan.Brady@riversidenb.com
October 18, 2006
City of Okeechobee Fire Dept.
Attn: Fire Chief Herb Smith
55 SE Third Avenue
Okeechobee, FL 34974
RE: Municipal Lease Agreement #142 -1
KM -2050 Copier, S/N J3089100
Dear Chief Smith:
Thank you for allowing Riverside National Bank to provide the financing on and be a part of
your new equipment acquisition. You are a valued customer and we hope to meet all of your
financing needs in the future. If you have any questions about the transaction just closed,
please call me.
Enclosed for your records is a copy of the executed Lease documents. Also enclosed is the
invoice for payment due November 15, 2006, along with an amortization schedule.
We are returning the original Form 8038 -GC, which we relied upon for funding your
transaction, to you for filing with the Internal Revenue Service. Also, if you have not already
done so, please call your insurance agent and have Riverside National Bank added as the loss
payee and additional insured to your policy.
Again, we appreciate your business and we would value any input you give us about our
service. I hope to hear from you soon.
Sincerely,
Susan Brady
Leasing Coordinator
Enclosures
Member FDIC
Cr
LENDER
EEO /AA/M /F /DN
DE llN7
LEASING COMPANY
P.O. Box 2078
Fort Pierce, FL 34954
561- 840 -8537; Fax 561- 842 -1676
Scott.Burnett@riversidenb.com
TO: City of Okeechobee Fire Dept.
55 SE Third Avenue
Okeechobee, FL 34974
Re: KM -2050 Copier, S/N J3089100
SALESP
ERSON
LEASE NUMBER
Scott Burnett
# 142 -1
INVOICE NO: 00142 -1 -1
DATE: October 18, 2006
QUANTITY
DESCRIPTION
UNIT PRICE
AMOUNT
1
Lease Payment
$123.00
$123.00
Documentation Fee
$150.00
Sales/Use Tax
$0.00
SUBTOTAL
$273.00
TOTAL DUE
$273.00
DUE DATE: November 15, 2006
Make all checks payable to: Riverside Leasing Company
5% late fee charged after December 15, 2006
We may report information about your account to credit bureaus. Late payments, missed payments, or other
defaults on your account may be reflected in your credit report.
If you have any questions concerning this invoice, contact us at above phone number.
THANK YOU FOR YOUR BUSINESS!
CITY OF OKEECHOBEE FIRE DEPT. - MUNICIPAL LEASE AGREEMENT - LEASE #142 -1
Loan Calculator
Enter Values
Loan Amount
$ 6,212.12
Annual Interest Rate
6.999%
Loan Period in Years
5
Number of Payments Per Year
12
Start Date of Loan
10/15/2006
Optional Extra Payments
Lender Name:
Riverside National Bank
Loan Summary
Scheduled Payment
Scheduled Number of Payments
Actual Number of Payments
Total Early Payments
Total Interest
123.00
60
60
$ 1,168.15
Pmt Payment Beginning Scheduled Extra Total Ending
No. Date Balance Payment Payment Payment Principal Interest Balance
1 11/15/2006 $ 6,212.12 $ 123.00 $ - $ 123.00 $ 86.77 $ 36.23 $ 6,125.35
2 12/15/2006 6,125.35 123.00 123.00 87.28 35.73 6,038.07
3 1/15/2007 6,038.07 123.00 123.00 87.79 35.22 5,950.28
4 2/15/2007 5,950.28 123.00 - 123.00 88.30 34.71 5,861.98
5 3/15/2007 5,861.98 123.00 123.00 88.81 34.19 5,773.17
6 4/15/2007 5,773.17 123.00 123.00 89.33 33.67 5,683.84
7 5/15/2007 5,683.84 123.00 123.00 89.85 33.15 5,593.98
8 8/15/2007 5,593.98 123.00 123.00 90.38 32.63 5,503.60
9 7/15/2007 5,503.60 123.00 123.00 90.90 32.10 5,412.70
10 8/15/2007 5,412.70 123.00 123.00 91.43 31.57 5,321.26
11 0/15/2007 5,321.26 123.00 123.00 91.97 31.04 5,229.30
12 10/15/2007 5,229.30 123.00 123.00 92.50 30.50 5,136.79
13 11/15/2007 5,136.79 123.00 123.00 93.04 29.96 5,043.75
14 12/15/2007 5,043.75 123.00 123.00 93.59 29.42 4,950.16
15 1115/2008 4,950.16 123.00 123.00 94.13 28.87 4,856.03
16 2/15/2008 4,856.03 123.00 123.00 94.68 28.32 4,761.35
17 3/15/2008 4,761.35 123.00 123.00 95.23 27.77 4,666.11
18 4/15/2008 4,666.11 123.00 123.00 95.79 27.22 4,570.32
19 51/15/2008 4,570.32 123.00 123.00 96.35 26.66 4,473.98
20 6/15/2008 4,473.98 123.00 123.00 96.91 26.09 4,377.07
21 7/15/2008 4,377.07 123.00 123.00 97.48 25.53 4,279.59
22 8115/2008 4,279.59 123.00 123.00 98.04 24.96 4,181.55
23 9115/2008 4,181.55 123.00 123.00 98.62 24.39 4,082.93
24 10115/2008 4,082.93 123.00 123.00 99.19 23.81 3,983.74
25 11/15/2008 3,983.74 123.00 123.00 99.77 23.24 3,883.97
26 12(15/2008 3,883.97 123.00 123.00 100.35 22.65 3,783.62
27 1/15/2009 3,783.62 123.00 123.00 100.94 22.07 3,682.68
28 2(15/2009 3,682.68 123.00 123.00 101.53 21.48 3,581.16
29 3(15/2009 3,581.16 123.00 123.00 102.12 20.89 3,479.04
30 4/15/2009 3,479.04 123.00 123.00 102.71 20.29 3,376.33
31 5/15/2009 3,376.33 123.00 123.00 103.31 19.69 3,273.01
32 6/15/2009 3,273.01 123.00 123.00 103.91 19.09 3,169.10
33 7/15/2009 3,169.10 123.00 123.00 104.52 18.48 3,064.58
34 8/15/2009 3,064.58 123.00 123.00 105.13 17.87 2,959.45
35 9(15/2009 2,959.45 123.00 123.00 105.74 17.26 2,853.71
36 10115/2009 2,853.71 123.00 123.00 106.36 16.64 2,747.35
37 11115/2009 2,747.35 123.00 123.00 106.98 16.02 2,640.36
38 12/15/2009 2,640.36 123.00 123.00 107.60 15.40 2,532.76
39 1/15/2010 2,532.76 123.00 123.00 108.23 14.77 2,424.53
40 2115/2010 2,424.53 123.00 123.00 108.86 14.14 2,315.66
41 3/15/2010 2,315.66 123.00 123.00 109.50 13.51 2,206.17
42 4/15/2010 2,206.17 123.00 123.00 110.14 12.87 2,096.03
43 5/15/2010 2,096.03 123.00 123.00 110.78 12.23 1,985.25
44 6/15/2010 1,985.25 123.00 123.00 111.43 11.58 1,873.82
45 7/15/2010 1,873.82 123.00 123.00 112.08 10.93 1,761.75
46 8/15/2010 1,761.75 123.00 123.00 112.73 10.28 1,649.02
47 9/15/2010 1,649.02 123.00 123.00 113.39 9.62 1,535.63
48 10/15/2010 1,535.63 123.00 123.00 114.05 8.96 1,421.59
49 11/15/2010 1,421.59 123.00 123.00 114.71 8.29 1,306.87
50 12/15/2010 1,306.87 123.00 123.00 115.38 7.62 1,191.49
Not to be used for pay -off.
CITY OF OKEECHOBEE FIRE DEPT. - MUNICIPAL LEASE AGREEMENT - LEASE #142 -1
Pmt Payment Beginning Scheduled Extra Total Ending
No. Date Balance Payment Payment Payment Principal Interest Balance
51 1/15/2011 1,191.49 123.00 123.00 116.06 6.95 1,075.43
52 2/15/2011 1,075.43 123.00 123.00 116.73 6.27 958.70
53 3/15/2011 958.70 123.00 123.00 117.41 5.59 841.29
54 4/15/2011 841.29 123.00 123.00 118.10 4.91 723.19
55 5/15/2011 723.19 123.00 123.00 118.79 4.22 604.41
56 6/15/2011 604.41 123.00 123.00 119.48 3.53 484.93
57 7/15/2011 484.93 123.00 123.00 120.18 2.83 364.75
58 8/15/2011 364.75 123.00 123.00 120.88 2.13 243.87
59 9/15/2011 243.87 123.00 123.00 121.58 1.42 122.29
60 10/15/2011 122.29 123.00 122.29 121.58 0.71 0.00
Not to be used for pay -off.
RIVELSIDE
NATIONAL IL, BANK
GOVERNMENTAL LESSEE INFORMATION
FULL
LEGAL NAME City of Okeechobee
MUNICIPAL LEASE NO.
I ya- -/
BILLING ADDRESS
55 SE Third Ave.
CITY
Okeechobee
COUNTY
pkeechobee
STATE
F1
ZIP
34974
SEND INVOICE TO
ATTENTION OF
PHONE
(863) .763 -4423
EQUIPMENT DESCRIPTION
EQUIPMENT LOCATION
IF NOT SAME AS ABOVE
CITY
11 (COUNTY
STATE
ZIP
QUANTITY
MAKE, MODEL NO. SERIAL NO.
t�pleeU41010
can s em
ax Roar
MUNICIPAL
LEASE AGREEMENT
LEASE COMMENCEMENT
DATE
I o 16/4 (4
MUNICIPAL LEASE NO.
I ya- -/
SELLERNENDOR INFORMATION
SELLERNENDOR COMPANY NAME
EGP Inc
ADDRESS
1420 W Washington St
CITY
Orlando
STATE
FL
ZIP
32805
SALES Rokaw
772)461-1201 PHONE
NUMBER & AMOUNT OF LEASE PAYMENTS
The original tens of this lease shall be 60
plus such renewals or extensions as may be agreed upon from time to time.
The monthly rental payments (exclusive of applicable sales or property taxes if any)
shall be as follows:
months
$123.00
per month for the first 60
(Plus applicable sales taxes, if any)
months.
per month for the following months.
(Plus applicable sales taxes, if any)
Self Insured Yes No APR qX
Lessor is authorized to insert detailed description adding model and serial numbers, accessones and parts.
Non - Cancelable Lease. This lease cannot be canceled or terminated except as expressly provided herein.
The undersigned Lessor hereby agrees to lease to the undersigned Lessee, and Lessee hereby agrees to lease and rent from the Lessor, the equipment and personal property
above described (or in the schedule, if any, annexed) with all replacement parts, repairs, additions, and accessories incorporated therein and/or affixed thereto (collectively referred
to as the "Equipment" and/or "Prciperty") subject to the terms and conditions stated below and on the reverse side hereof.
1. TERM and PAYMENTS:ACCEPTANCE OF PROPERTY. Subject to the con-
ditions hereinafter stated and on the reverse side hereof, this lease shall be for the
term above stated, commencing'iwith delivery of the Equipment described above to
Lessee or to an agent of Lessee, which shall be evidenced by Lessee's execution
of a Certificate of Acknowledgement and Acceptance of Leased Equipment made a
part of this Agreement, as further proof of such commencement. Upon delivery of
the Certificate of Acknowledgement and Acceptance, Lessee has no right to
revoke, reject or repudiate the Equipment. Lessee agrees to pay the total rental for
the term, which shall be the total amount of all rental payments stated above. All
monthly payments of rental shall be payable on the commencement date of this
lease and on the same day of each month thereafter and sent to the address
directed by Lessor, or its successors or assigns. Provided however, that neither the
Lessee nor any political subdivision thereof shall be obligated to pay any sums due
to Lessor,hereunder from ad valorem taxes. The rental payments hereunder shall
be absolute and unconditional without abatement, set -off, or counterclaim.
Lessee intends the rental payments hereunder to be absolutely net to• Lessor, and
Lessee shall comply with the laws with respect to, and shall pay all taxes, license
and registration fees, and similar charges imposed on the ownership, possession,
or use of the Equipment during the term of this lease and shall pay all taxes
imposed on Lessor or Lessee with respect to the rental, payments and leasing of
the Equipment, except Federal or State net income taxes imposed on Lessor.
The Equipment identified herein shall be purchased from such vendors as are
selected by Lessee; provided, however that upon execution hereof Lessee shall
thereby represent and warrant to Lessor that Lessee has executed a binding oblig-
ation to purchase the Property. Such Property shall be delivered to the Lessee free
and clear of all liens and encumbrances or interests of any party therein except the
interests of the Lessee and Lessor hereunder. The Lessee shall at all times keep
the Property free of any liens or encumbrances. Lessor shall not pay any monies
to the vendor or the Lessee for payment to the vendor until Lessee certifies to the
Lessor that Lessee has accepted the Equipment hereunder.
Lessor shall at all times retain tithe to the Equipment. All documents of title and evi-
dences of delivery shall be delivered to the Lessor. Lessee will not change or
remove any tags, insignia, or lettering which is on the Equipment at the time of
delivery thereof or which is thereafter placed thereon indicating Lessor's ownership
thereof, and at any time during the lease term, upon request of Lessor, will affix to
the Equipment in a prominent place, labels, plates, or other marking supplied by
Lessor stating that the Equipment is owned by Lessor. Lessee shall at its expense
protect and defend Lessor's title against all persons claiming against or through
Lessee, at all times keeping the Equipment free from any legal process or encum-
brance whatsoever, including but not limited to liens, attachments, levies and exe-
cutions, and shall give Lessor immediate written notice thereof and shall indemnify
Lessor from any loss caused thereby. Lessee shall not so affix the Equipment to
realty so as to change its nature to real property and agrees that the Equipment
shall remain personal property at all times regardless of how attached or installed.
Lessee shall keep the Equipment at the location shown above, and shall not
remove the Equipment without the consent of the Lessor.
2. TAXES. While subject to this lease and in addition to the payments to be
made pursuant to Paragraph (1) hereof, Lessee agrees to indemnify and hold
Lessor harmless from and against and to pay Lessor, as additional rent, on
demand an amount equal to all license, assessments, sale, use, real or personal
property, gross receipts or other taxes„ levies, imposts, duties or charges, if any,
whether imposed at the inception or during the lease term, together with any penal-
ties, fines or interest thereon imposed against or on Lessor, or the Equipment by
any governmental authority upon or with respect to the Equipment or the purchase,
ownership, rental, possession, operation, return or sale of, or receipt of payments
for the Equipment, except any Federal or State income taxes, if any, payable by
Lessor. Lessee may contest any such taxes prior to payment with due diligence
and by appropriate proceedings provided such contest does not involve any
adverse risks to Lessor's interest hereunder.
•
3. LESSEE'S COVENANTS and REPRESENTATIONS. Lessee covenants and
represents as follows:
(a) Lessee is a governmental entity and political subdivision of the state of
Florida, duly created and existing pursuant to the laws of the State of Florida, and
has the full power and authority to enter into this Agreement and has taken all
appropriate steps to authorize the acquisition of the Property pursuant to this
Agreement and upon execution hereof by Lessee, this Agreement shall constitute
a legal, valid and binding obligation of Lessee, enforceable in accordance with its
terms.
(b) All payments hereunder have been, and will be duly authorized and paid
when due out of funds then on hand and legally available for such purpose. Lessee
will to the extent permitted by State law and other terms and conditions of this
Agreement, include in its budget request for each successive fiscal period during
the Term of this Agreement a sufficient amount to permit Lessee to discharge all its
obligations hereunder and Lessee has budgeted and available for the current fiscal
period sufficient funds to comply with its obligations hereunder.
(c) There are no pending or threatened lawsuits or administrative or other
proceedings contesting the authority for, authorization or performance of, or the
expenditure of funds pursuant td this Agreement.
(d) Information supplied and statements made by Lessee in any financial
statement or current budget prior to or contemporaneously with this Agreement are
true and correct.
(e) Lessee has an immediate need for, and expects to make immediate use
of, substantially all the Property, which need is not temporary or expected to dimin-
ish in the foreseeable future, and Lessee will not give priority or parity in the appro-
priation of funds to the acquisition or use of any substitute property for purposes or
functions similar to the Property s or for the procurement of services from a third
party which services are substitute for the utilization of the Property by the Lessee.
(1) There are no circumstances presently affecting the Lessee that could
reasonably be expected to alter its foreseeable need for the property or adversely
affect its ability or willingness to budget funds for the payment of sums due hereunder.
(g) Lessee's right to terminate this Agreement as specified in Paragraph 11
hereof was not an independently bargained for consideration, but was concluded
solely for the purpose of complying with the requirements of the laws of the State in
which Lessee is located.
(h) Lessee has on hand and legally available, funds from sources other than ad
valorem taxes sufficient to make all payments due under this Agreement during the cur-
rent fiscal year of Lessee.Nothing n this lease shall be construed to constitute a pledge
of ad valorem taxes. Lessee has On-hand legally available funds from sources other
than ad valorem taxes sufficient td make all payments due under this Agreement during
the current fiscal year of lessee; and, lessee pledges to make future payments over the
lease term out of other budgeted sourcesof non- advalorem tax revenues:
(i) The Lessee has revie its projected revenues and its expenses and rea-
sonably expects that it shall hay on hand and legally available, funds from sources
other than ad valorem taxes s lent so to timely make all payments as they
become due under this Agreement during the Term hereof.
0) Lessee shall make appropriations for payments for each fiscal period or
periods only from sources of funds which are legally available to make payments
under this Agreement, and from Sources of funds other than ad valorem taxes.
(k) M required public bidding procedures regarding the award of this Agreement
and the selection and acquisition of the Property have been complied with by Lessee.
4. USE and LICENSES. Lessee shall pay and discharge all operating expenses
and shall cause the Property to ba operated by competent persons. Only Lessee shall
use the Property only for its proper purposes and will not install, use, operate or main-
tain the Property improperly, carelessly, or in violation of any applicable law, ordinance,
rule or regulation of govemmenta authority or in violation of any policy of insurance
required pursuant to Paragraph 8 hereof, or in a manner contrary to the nature of the
Property or the use contemplated by its manufacturer. Lessee shall keep the Property
at the location stated on the certificate of Acceptance executed by Lessee upon deliv-
ery of the Property, until Lessor in writing permits its removal, and the Property shall be
used solely in the conduct of the lessee's operations. Lessee shall obtain, at its
expense, all registrations, permits and licenses, if any, required by law for the installa-
tion and operation of the Property License plates used on the Property shall be issued
to and in the name of the Lessee. If a certification of title is issuable with respect to the
Property, it shall be delivered to the Lessee showing title to be in the Lessee.
5. MAINTENANCE. Lessor shall not be obligated to make any repairs or replace-
ments to the Property. At its own expense, Lessee shall service, repair and maintain the
Properly in as good condition, repair, appearance and working order as when delivered
to Lessee hereunder, ordinary weer and tear from proper use alone excepted, and shall
replace any and all parts thereof Which may from time to time become worn out, lost,
stolen, destroyed or damaged beyond repair or rendered unfit for intended use, for any
reason whatsoever, all of which replacements shall be free and clear of all liens, encum-
brances and claims of others, and shall become part of this Property and subject to this
Agreement. Lessor may, at its option, discharge such costs, expenses and insurance
premiums necessary for the repair, maintenance, and preservation of the Property and
at sums so expended shall be due from Lessee in addition to rental payments hereunder.
6. ALTERATIONS.
(a) Lessee may, at its own expense, install or place in or on, or attach or affix
to, the Property, such equipment or accessories as may be necessary or convenient
CERTIFICATE OF ACKNOWLEDGEMENT AND ACCEPTANCE OF LEASED EQUIPMENT
Le
with Les
thereof as sa
ee•yacknowl .. . •t•ft.- -.•n. - 1 L
the'Equipmentl and accepts the Equipment after full in
ctory fo - rposes of the lease.
SIGNATURE X
TITLE
DELIV $ ACCEPTANCE DATE:
to use the Property for its intended purposes provided that such equipment or acces-
sories do not impair the value or utility of the Property. In that event all such equip-
ment or accessories shall become the property of Lessor together with the Property.
(b) Without the written consent of Lessor, Lessee shall not make any other
alterations, modifications or improvements to the Property except as required or per-
mitted hereunder. Any other alterations, modifications or improvements to the
Property shall immediately become part of the Property, subject to the provisions
hereof. Without the prior written consent of Lessor, Lessee shall not affix or attach
any of the Property to any real property. The Property shall remain
personal property regardless of whether it becomes affixed or attached to real prop-
erty or permanently rests upon any real property or any improvement thereon.
7. DAMAGE TO OR DESTRUCTION OF PROPERTY. Lessee shall bear the
entire risk of loss, damage, theft, or destruction of the Property from any and every
cause whatsoever and no loss, damage, theft, or destruction of the Property shall
release Lessee from the obligation to pay the full amount of the rental payments or
from any other obligation under this Agreement.
(a) In the event that all or any part of the Property is lost, stolen, destroyed or
damaged beyond repair, Lessee shall replace the same with like Property in good
repair of like value at Lessee's sole cost and expense as soon thereafter as possible,
but in no event later than 60 days after such occurrence, and any such replacement
shall become subject to this agreement. Insurance proceeds received by Lessor with
respect to any such casualty shall be paid to Lessee if such Property is replaced by
Lessee as required hereunder.
8. INSURANCE. Lessee shall, for the term of this Agreement, at its own expense,
maintain comprehensive liability insurance with respect to the Property insuring
against such risks and in such amounts as are reasonably required by Lessor from
time to time. In addition, Lessee shall, for the term of this Agreement, at its own
expense maintain casualty insurance with respect to the Properly, insuring against
customary risks with coverage at all times not less than the remaining Principal
Balance determined as of the end of Lessee's preceding fiscal year. All insurance
policies shall be with insurers authorized to do business in the state where the
Property is located and shall name both Lessor and Lessee as insured as their
respective interests may appear. Insurance proceeds from casualty losses shall be
payable to the Lessee and, at the option of the Lessee, shall be applied to either (a)
the replacement, repair or restoration of the Property or, (b) payment of Balance Due
Lessor (as defined hereafter). Lessee shall, upon request, deliver to Lessor evidence
of the required coverages together with premium receipts. In the event Lessee fails,
for any reason, to comply with the requirement of this Paragraph, Lessee shall
indemnify and save harmless, and, at Lessee's sole expense, defend Lessor and its
agents, employees, officers and directors and the Property against all risk of loss not
covered by insurance.
9. INDEMNIFICATION. Lessee shall indemnify and save harmless Lessor and its
agents, employees, officers and directors from and, at Lessee's expenses, defend
Lessor and its agents, employees, officers and directors against all liability, obliga-
tions, losses, damages, penalties, claims, actions, costs and expenses (including but
not limited to reasonable attomeys' fees) of whatsoever kind or nature which in any
way relate to or arise out of this Agreement or the ownership, rental, possession,
operation, condition, sale or return of the Property whether caused in whole or in part
by Lessor's fault. All amounts which become due from Lessee under this Paragraph
9 shall be credited with any amounts received by the Lessor from insurance provided
by the Lessee and shall be payable by the Lessee within thirty (30) days following
demand therefore by Lessor and Lessee's obligations under this Paragraph 9 shall
survive the termination or expiration of this agreement.
10. NO REPRESENTATION OR WARRANTIES BY LESSOR. Lessee requests
Lessor to purchase the Equipment from a seller (the 'Seller -) and arrange for deliv-
ery to Lessee at Lessee's expense, which shall be deemed complete upon Lessee's
acceptance. Lessor shall have no responsibility for delay or failure of Seller to deliver
the Equipment. THE LESSEE ACKNOWLEDGES THAT LESSEE HAS SELECTED
THE EQUIPMENT LEASED HEREUNDER PRIOR TO HAVING REQUESTED THE
LESSOR TO PURCHASE THE SAME FOR LEASING TO THE LESSEE, AND
LESSEE AGREES THAT THE LESSOR HAS MADE AND MAKES NO REPRE-
SENTATIONS OR WARRANTIES OF ANY KIND OR NATURE, DIRECTLY OR
INDIRECTLY, EXPRESS OR IMPLIED AS TO ANY MATTER WHATSOEVER,
INCLUDING THE SUITABIUTY OF SUCH EQUIPMENT, ITS DURABILITY, ITS FIT-
NESS FOR ANY PARTICULAR PURPOSE, ITS MERCHANTABILITY, ITS CONDI-
TION, CAPACITY AND/OR ITS QUALITY, AND AS BETWEEN LESSEE AND
LESSOR AND LESSOR'S ASSIGNEES, LESSEE LEASES THE EQUIPMENT "AS
IS" AND "WITH ALL FAULTS ". LESSOR AND LESSOR'S ASSIGNEE SHALL
,HBO E SIGNATORY AFFIRMS AT HE/SHE IS A DULY AUTHORIZED OFFICIAL
OF THE GOVERNMENTAL LESSEE ABOVE.
TSjE e pTYPE NAME)
r /PG G
WITNESS
SIGNATURE
PRINT NAME 8 TITLE
OF WITNESS
in
en7c).#1-1717A
NOT BE LIABLE TO LESSEE FOR ANY LOSS, DAMAGE, OR EXPENSE OF ANY
KIND OR NATURE CAUSED DIRECTLY OR INDIRECTLY BY ANY ADJUSTMENT
THERETO, OR BY AN INTERRUPTION OF SERVICE OR LOSS OF USE THERE-
OF, OR FOR ANY LOSS OF BUSINESS OR DAMAGE WHATSOEVER, OR FOR
CONSEQUENTIAL OR ANY INCIDENTAL DAMAGES HOWSOEVER CAUSED.
LESSOR MAKES NO REPRESENTATION OR WARRANTY EXPRESS OR
IMPLIED AS TO THE EQUIPMENT, ITS FITNESS FOR ANY PARTICULAR PUR-
POSE, ITS MERCHANTABILITY OR ANY OTHER MATTER, NOR SHALL ANY
SUCH REPRESENTATION OF WARRANTY BY THE SELLER TO THE LESSEE
BE BINDING ON THE LESSOR NOR SHALL ANY SUCH BREACH RELIEVE
LESSEE OF OR IN ANY WAY REDUCE ANY OF THE LESSEE'S OBLIGATIONS
TO LESSOR AS SET FORTH HEREIN. THIS DISCLAIMER OF REPRESENTA-
TIONS AND WARRANTIES AND LIMITATION OF LIABILITY SHALL APPLY
WITH EQUAL FORCE AND EFFECT TO ANY CLAIMS OF ANY THIRD PARTY
AGAINST LESSOR OR LESSOR'S ASSIGNEE. If the Equipment is not properly
installed, does not operate as represented or warranted by Seller or is unsatisfactory
for any reason, Lessee Shall make any claim or account thereof solely against the
Seller and shall nevertheless pay Lessor all rent payable under this lease. No repre-
sentation or warranty as to the Equipment or any other matter by the Seller or manu-
facturer to the Lessee shall be binding on the Lessor nor shall any breach by the
Seller or manufacturer relieve Lessee of, or in any way reduce, any of the Lessee's
obligations to the Lesson as set forth herein. Lessor hereby assigns to Lessee, solely
for the purpose of making and prosecuting any such claim, any rights it may have
against the Seller for breach of warranty or representation respecting the Equipment.
Lessee understands and agrees that neither the Seller nor any agent of the Seller is
an agent of Lessor and that neither the Seller nor its agent is authorized to waive or
alter any term or condition of this lease.
11. TERMINATION FOR GOVERNMENTAL NON - APPROPRIATIONS.
Lessee is a bona fide governmental entity of the State of Florida with Lessee's fiscal
year ending on of each calendar year. If Lessee does not
appropriate sufficient funds to continue making the payments required under this
agreement for any of Lessee's fiscal years subsequent to the one in which the
Agreement is executed and entered into, then this Agreement shall be terminated
effective upon expiration of the fiscal year in which sufficient funds to continue satis-
faction of Lessee's obligation under this Agreement were last appropriated by Lessee
and Lessee shall not, in this sole event, be obligated to make any further rental pay-
ments due beyond said fiscal year. Lessee warrants that the necessary funds shall
have been appropriated for all of the Property for Lessee's fiscal year during which the
execution by Lessee of this Agreement occurred. Lessee shall give Lessor immediate
notice of Lessee's intent to terminate this Lease under this Section 11 which notice
shall contain the termination date (which shall be the end of the last of Lessee's fiscal
year for which appropriation for the Property were made) and shall advise the Lessor
of the location or locations where the Equipment may be found on the Termination
Date. In the event of an early termination of this Agreement under this Section, al
obligations of the Lessee to make rental payments which would otherwise be due
hereunder after the termination Date shall cease and the Termination Procedure (see
Section 13 hereof entitled "Termination") shall apply to the Property as to which this
Agreement is terminated. Lessee agrees: (i) not to terminate this Agreement under
this Section 11 if any funds are appropriated to it for the fiscal year next succeeding
the fiscal year of termination, for either (a) the acquisition (by purchase or lease) of
other functionally similar equipment or (b) the procurement of services from a third
party, which services are functionally similar to the utilization of the Property by the
Lessee, (i) to expressly nclude in the Lessee's proposed budget appropriations each
entry for payments due tinder this Agreement, and (iii) to comply with all other
covenants and representations, as set forth in paragraph 3 above. Lessee agrees that
due to the nature of the equipment which is the subject of this lease, compliance by
Lessee with this non - substitution clause will not impose a penalty or undue hardship
upon lessee, and will not materially affect lessee's ability to perform its public functions."
12. DEFAULT AND LESSOR'S REMEDIES.
(a) The occurrence of one or more of the following events shall constitute
and Event of default, whether occurring voluntarily or involuntarily, by operation
of law or pursuant to any order of any court or governmental agency.
(1) Lessee's failure to make any payment hereunder when due;
(2) Lessee's failure to comply with any other covenant, condition or agree
ment of Lessee hereunder for a period of ten (10) days after notice in
writing thereof;
(3) Any representation or warranty made by Lessee hereunder shall be
untrue in any material respect as of the date made;
(4) Lessee shall make, permit or suffer any unauthorized assignment,
transfer or other disposition of this agreement or any interest herein,
or any part of the Property or any interest therein.
(5) Lessee becomes insolvent or admits in writing its inability to pay its
debts as they mature or applies for, consents to, or acquiesces in the
appointment of a trustee, receiver or custodian for the Lessee or sub-
stantial part of its property, or in the absence of such application, con-
sent or acquiescence, a trustee, receiver or custodian is appointed for
Lessee or a substantial part of its Property and is not discharged with-
in sixty (60) days; or any bankruptcy or insolvency law, or any dissolu-
tion or liquidation proceeding, is instituted by or against Lessee and, if
instituted against Lessee, is consented to or acquiesced in by Lessee
or is not dismissed within 60 days.
(b) Upon the occurrence of any Event of Default specified herein Lessor
may in its sole discretion exercise any or all of the following remedies in addi-
tion to any other remedies existing under law or in equity:
(1) Accelerate all payments remaining due for the entire term of this
Agreement, and enforce this Agreement by appropriate action to col-
lect from general revenues of Lessee not arising from ad valorem tax-
ation and which are otherwise legally available therefore amounts
due or to become due hereunder, by acceleration or otherwise.
(2) Terminate this Agreement, in which event, upon demand by Lessor the
following procedure (the 'Remedy Procedures') shall apply:
(a) LESSEE RIGHT OF DISPOSITION. Lessee shall (i) immediately
cease any use of the Property and cause the Property to be stored
in an appropriate place, (ii) use its best efforts at Lessee's
expense to dispose of the Property within 60 days from receipt of
such written demand for an amount which shall approximate the
equipment's 'Fair Market Value' (as defined hereafter) as deter-
mined by a qualified appraiser. The proceeds from the sale of the
equipment shall be forwarded directly to Lessor and applied to the
Balance Due Lessor. If the proceeds are less than the Balance
Due Lessor, the lessee shall pay the deficiency to Lessor. If the
proceeds exceed Balance Due Lessor, Lessee shall keep the
overage.
(b) DELIVERY TO LESSOR. If Lessee fails or refuses to dispose of
the Property within that 60 day period, the Lessee shall, at its
expense, cause possession of the Property together with all docu-
ments necessary to transfer legal and beneficial title thereto and
possession thereof to Lessor and to evidence the termination of all
of Lessee's interest in the Property to be delivered at Lessor's
direction consistent with the terms hereof. Lessor may then dis-
pose of Property and the proceeds from the sale of the Property
shall be applied to the Balance Due Lessor. If the proceeds are
less than the Balance Due Lessor, the Lessee shall pay the defi-
ciency to Lessor.
The term 'Balance Due Lessor" shall mean the sum of all pay
ments remaining due for the entire term of this Agreement.
(c) Notwithstanding a return of the Property to the Lessor hereunder,
Lessee shall remain liable to Lessor for any damages caused Lessor as a result
of any breach of the provisions of this Agreement relating to matters other than
rent payments; provided, however, that Lessor may recover any such amounts
only from general revenues of Lessee which do not arise from ad valorem taxes
and are otherwise legally available therefor, to the extent available.
13. TERMINATION PROCEDURE. Lessee shall, upon any termination hereof
pursuant to Paragraph 11 hereof deliver the Property to Lessor unencumbered
and certified in writing by a factory trained technician, qualified on the equipment
under lease, to be in at least as good condition and repair as when delivered to
Lessee, ordinary wear and tear resulting from proper use alone excepted, by load-
ing the Property, at Lessee's sole expense, on such carrier, or delivering the
Property to such location, as Lessor shall provide or designate at or within a rea-
sonable distance from the general location of the Property. If Lessee fails to deliv-
er the Property to Lessor, as provided in this Paragraph 13, on or before the date
of termination of this Agreement, Lessee shall pay to Lessor upon demand, for
the period from the date of termination of this Agreement to the date Lessor either
obtains possession of the Property or collects the Balance Due Lessor, monthly
rental in the amount set forth above.
In the event Lessor is entitled under the provisions of this Lease to obtain possession
of the Property due to a voluntary relinquishment thereof by Lessee, Lessee agrees
to (i) fully cooperate with Lessor in all respects in effecting a timely and orderly rede-
livery of the Property to Lessor; (ii) at Lessee's expense to assemble and appropri-
ately package the Property for shipment and to make the Property so assembled and
packaged available at one or more locations within the State of Florida, arranging
with Lessor a convenient time for Lessor's pickup of that Property; (iii) execute and
deliver to Lessor, or at Lessor's directions, all documents necessary to transfer legal
and beneficial title to the Property in possession thereof to Lessor and to evidence
the termination of all of Lessee's interests in the Property.
14. ASSIGNMENT AND SUBLEASE.
(a) Without the prior written consent of Lessor, Lessee shall not (i) assign,
transfer, pledge or hypothecate or otherwise dispose of this Agreement, the
Property, or any part thereof or any interest there, (ii) sublet the Property or any
part thereof, or (iii) permit the Property to be used for any purpose not permitted
by Paragraph 4 hereof.
(b) Lessor shalt be entitled with or without notice to, or the consent of,
Lessee to sell, assign or transfer all or any part of its right, title and interest in,
to and under this Agreement (including, without limitation, those with respect to
the Property and all payments of any kind due or which are to become due to
Lessor hereunder) and any such purchaser(s), assignee(s) or transferee(s) shall
thereafter (jointly, if more than one) be deemed to be the Lessor hereunder,
except that Lessor and Lessee agree and acknowledge that any such purchas-
er(s), assignee(s) or transferee(s) will have made no representation or warranty,
and therefore will assume no obligation, with respect to the title, merchantability,
condition. quality or fitness of the Property for any particular purpose, or for the
enforcement of any warranties or service agreement made or assigned to
Lessee by the initial Lessor names herein. Upon Lessee's receipt of written
notice i1f Lessor's sale, assignment or transfer of all or any part of its interest
hereunder, Lessee agrees to attom to and recognize any such purchaser(s),
assignee(s), or transferee(S) (jointly if more than one) as the Lessor(s) under
this Agreement. Upon assignment, Lessor is thereby relieved of any further
obligations. Upon written request Lessee agrees to execute and deliver such
certificates or other instruments as may reasonably be requested, including, but
not limited to, a separate acknowledgement of assignment and attornment cer-
tificate in the customary form as to any purchaser's, assignee's or transferee's
right, title and interest in, to and under this Agreement, and with respect to the
Property and the Payments thereafter due and payable pursuant to this Agreement.
15. PERSONAL PROPERTY. The property is and shall at all times be and remain
personal property, as described in Paragraph 6 (b).
16. LESSOR'S RIGHT TO PERFORM FOR LESSEE. If Lessee fails to make any
payment or perform or comply with any of its covenants or obligations hereunder,
Lessor may, but shall not be required to, make such payment or perform or comply
with such covenants and obligations on behalf of Lessee and the amount of any such
payment and the expenses ng but not limited to reasonable attorney's fees)
incurred by Lessor in ng or complying with such covenants and obligations,
as the case may be, together with interest thereon at the highest rate permitted by
applicable law, shall be payable by Lessee upon demand.
17. INTEREST ON DEFAULT. If Lessee fails to pay any payment due under this
Agreement, whether payments of rent under Paragraph 1, payment of taxes under
Paragraph 2, or payment for performance by Lessor of Lessee's obligations, under
Paragraph 16 or otherwise, vrithin fifteen days after the due date thereof, Lessee
agrees to pay Lessor interest on such delinquent payments from the date due until
actually received in immediately available funds to Lessor at the highest lawful rate
permitted by applicable law.
18. NOTICES. Any notices to be given or to be served upon any party hereto, in
connection with this agreement, must be in writing and may be given by certified or
registered mail, and shall be deemed to have been given and received fortyeight (48)
hours after a registered or certified letter containing such notice, postage prepaid, is
deposited in the United States mail, and if given otherwise shall be deemed to have
been given when delivered tc1 and received by the party to whom it is addressed.
Such notice shall be given to the parties at their respective address(es) designated
on the signature page of this Agreement or at such other address as whether party
may hereafter designate in writing.
19. LIMITATION ON PAYMENTS. The interest component of rental payments due
hereunder is not intended to and in no event shall exceed the maximum rate permit-
ted by applicable law and in the event any amount in excess of the maximum rate
permitted is paid by Lessee or collected by Lessor, then Lessee shall be entitled to
receive a credit against any amounts thereafter due hereunder or any of the amount
of such excess, or if no amounts remain due hereunder, the Lessee shall be entitled
to immediate refund of any such excess. Lessee shall not be entitled to interest on
any such amounts refunded.
20. MISCELLANEOUS.
(a) Lessee Shall, whenever requested, advise Lessor of the exact location and
condition of the Property and shall give Lessor immediate notice of any attachment
or other judicial process affecting the Property, and indemnify and save Lessor harm-
less from any loss or damage' aused thereby including without limitation, reasonable
attomey's fees. Lessor may, �fpr the purpose of inspection, at all reasonable times
enter upon any job, building Pr place where the Property and the books and records
of the Lessee with respect hereto are located.
(b) Time is of the essence. No covenant or obligations hereunder to be per-
formed by Lessee may be waived except by the written consent of Lessor and waiver
of any such covenant or obligation or a forbearance to invoke any remedy on any
occasion shall not constitute tb be treated as a waiver of such covenant or obligation
or any other covenant or obligation as to any other occasion and shall not preclude
Lessor from invoking such remedy at any later time prior to the Lessee's cure of the
condition giving rise to such remedy. Lessor's rights hereunder are cumulative and
not altemative.
(c) This Agreement shall be construed and governed in accordance with the
laws of the State in which Lessee is located. Should the Lessee be located in Florida
both Lessor and Lessee hereby agree venue for all legal action regarding this
Agreement shall be in St. Lucie County, Florida.
(d) This Agreement constitutes the entire agreement between the parties and
shall not be modified, waived, discharged, terminated, amended, altered or changed
in any respect except by a written document signed by both Lessor and Lessee.
(e) Any term or provision of this Agreement found to be prohibited by law or
unenforceable shall be ineffective to the extent of such prohibition or unenforceability
without, to the extent reasonably possible, invalidating the remainder of this
Agreement.
(1) The Lessor hereunder shall have the right at any time or times, by notice to
Lessee to designate or appoint any person or entity to act as agent or trustee for
Lessor for any purposes hereunder.
(g) All transportation, drayage, rigging, transit insurance premiums and other
charges payable for delivery of the equipment to and from the premises of Lessee,
and all installation, connect, disconnect and packing charges, shall be paid by
GEN 408 REV 12 -01
Lessee. Lessee will immediately notify Lessor of any change occurring in or to the
Property, of a change in Lessee's address, or in any act or circumstance warranted
or represented by Lessee to Lessor, or if any Event of Default occurs.
(h) Use of the neuter gender herein is for purposes of convenience only and
shall be deemed to mean and include the masculine or feminine gender whenever
and wherever appropriate.
(1) The captions setforth herein are for convenience of reference only and
shall not define or limit any of the terms or provisions hereof.
(j) Except as otherwise provided herein, this Agreement shall be binding upon
and inure to the benefit of the parties hereto and their respective heirs, executors,
administrators, legal representatives, successors and assigns, where permitted by
this Agreement.
21. PREPAYMENT OPTION. Provided Lessee has complied with the terms and
conditions of this Agreement, Lessee shall have the Option to prepay the payments
due during the Term hereof as to all but not less than all of the Property which is then
subject to this Agreement on the date prior to the next payment coming due. Lessor
shall be given written notice by Lessee of Lessee's intention to prepay 60 days prior
to the next payment due. An administrative fee of fifty dollars ($50.00) may be
charged Lessee on any such prepayment.
22. LATE CHARGES. Whenever any payment is not made by Lessee in full within
thirty (30) days of the date due, Lessee agrees to pay to Lessor, not later than one
month thereafter, an amount equal to 5% of the full scheduled payment, but only to
the extent allowed by law. Such amount shall be payable in addition to all amounts
payable by Lessee as a result of exercise of any of the remedies herein provided.
23. SECURITY INTEREST. To secure payment and performance of all obligations
of Lessee to Lessor hereunder, Lessee hereby grants to Lessor a continuing security
interest in the Equipment and proceeds thereof. Lessee shall execute one or more
Uniform Commercial Code financing statements in form satisfactory to Lessor to per-
fect the security interest granted by Lessor to Lessee herein. Lessee shall reimburse
Lessor for any searches, filings, recordings, stamp fees or taxes arising from the fil-
ing or recording of any Uniform Commercial Code financing statement, amendment
or termination, and this contract or any other instrument or statement. Lessee agrees
to procure for Lessor such estoppel certificates, landlord's or mortgagee's waivers or
other similar documents as Lessor may reasonably request. Should Lessee be pro-
hibited (By State Statues, Charter, Local Ordinances, etc.) from granting Lessor a
security interest in the Equipment under lease, then this paragraph shall be null and
void and Lessor shall not receive the aforementioned U.C.C. financing statements.
24. GOVERNMENTAL PURPOSES. Lessee and Lessor agree that it is the inten-
tion of both parties that the Equipment be used for governmental purposes only and
Lessee represents and warrants that the Equipment is hereby leased solely for gov-
ernmental use.
25. ATTORNEY'S FEES. In the event that either party breaches the terms of this
Lease, the non - breaching party shall recover from the breaching party all costs and
expenses incurred as a result of said breach, including, without limitation, reasonable
attorney's fees, including fees incurred at the trial or appellate levels.
In witness hereof, the undersigned Lessor has duly accepted and executed this
Lease this %V day of , 20 Cr_
By
LESSOR: Riverside National Bank
P.O. Box 2078
Ft. Pierce, FL 34954
772 -466 -1200
(Name)
(Title)
EQUAL HOUSING LENDER
MEMBER F.D.I.C.
RIVERSIDE NATIONAL BANK
DELIVERY AND ACCEPTANCE RECEIPT
LEASE # 14-/
The undersigned Lessee hereby acknowledges receipt of the equipment described below or on an
attached schedule (the "Equipment "), fully installed and in good working condition, and Lessee
hereby accepts the Equipment after full inspection thereof as satisfactory for all purposes of the
Lease executed by Lessee with Riverside National Bank (the "Lessor "). Lessee certifies that
Lessor has fully and satisfactorily performed all covenants and conditions to be performed by
Lessor in accordance with Lessee's directions.
Description and Serial Number(s) of
Equipment Delivered and Accepted:
Qty Description
1 Kyocera Copier 2050, S/N J3089100
1 Kyocera Doc Feed DP -410, S/N L3250938
1 Kyocera Duplex DU -410, S/N D3167820
1 Cabinet A4 9843
1 Scan System NET 115
1 Fax Board NET 116
LESSEE AGREES THAT LESSOR HAS NOT MADE AND MAKES NO
REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE, DIRECTLY
OR INDIRECTLY, EXPRESSED OR IMPLIED, AS TO ITS DURABILITY, ITS
FITNESS FOR ANY PARTICULAR PURPOSE, ITS MERCHANTABILITY, ITS
CONDITION, AND /OR ITS QUALITY, AND AS BETWEEN LESSEE AND LESSOR
OR LESSOR'S ASSIGNEE, LESSEE LEASES THE EQUIPMENT "AS IS" AND
LESSEE AFFIRMS THAT IT HAS NO DEFENSES OF COUNTERCLAIMS AGAINST
LESSOR IN CONNECTION WITH THE LEASE.
Lessee understands that Lessor is relying upon this receipt as a condition for making payment for
the cost of the leased Equipment to the supplier thereof.
LESSEE
CITY OF OKEECHOBEE (FIRE DEPT.)
Date Equipment
Accepted: /DOC 706
B y:
Print Name: Herb Smith
Title: Fire Chief
ADDENDUM AND AMENDMENT TO
MUNICIPAL LEASE AGREEMENT
Lease # ya'/
This Addendum and Amendment to Municipal Lease Agreement is made and entered
into by and between„ Riverside National Bank, a Florida corporation, hereafter referred to as
"LESSOR" and Q' t r7_ O� oK 'FC f/o/3 6� , hereafter referred to as "LESSEE ",
having' its principal plate of business at 55 SE THIRD AVENUE, OKEECHOBEE, FL 34974
1. TERMS AND PAYMENTS: ACCEPTANCE OF PROPERTY. The following sentence is to
replace the fourth sentence in the first paragraph:
The first monthly payment of rental shall be payable thirty (30) days following
the Commencement Date or such later date as Lessor designates in writing, and
subsequent payment due on the same day of each successive rent period thereafter
until the balance of the rent and any additional rent or expenses chargeable to
Lessee under this Lease shall have been paid in full.
26. DOCUMENTATION FEE: As reimbursement for costs associated with this financing, the
undersigned agrees to pay a one -time charge of One Hundred Fifty Dollars ($150.00) for
documentation preparation and overnight delivery fees.
IN WITNESS WHEREOF, the parties hereto have caused this document to be signed and
sealed by their duly authorized officers or representatives.
LESSOR:
RIVERSIDE NATIONAL BANK
By:
Title:
Dated: A`VE0
LESSEE:
City of Okeechobee
By:
di„di
Title: Cffi
Dated: -2,-7 0 6
ESSENTIAL USE LETTER
Riverside National Bank of Florida
P.O. Box 2078
Ft. Pierce, FL 34954
Re: Equipment Lease Agreement Number )`i-I dated as of ? " Z 7 - , 2006
Gentlemen:
This letter is being written with respect to the use of the Equipment (therein so called) to be
leased to the undersigned under the above - referenced Equipment Lease Agreement. The
Equipment will be used by the undersigned for the following purposes:
6?/ 2,
Our source of funds for payments of the rent due under the Lease for the current year is:
bGET-
The undersigned expects to make immediate use of substantially all of the Equipment, which
need is not temporary or expected to diminish in the foreseeable future, and represents that the
use of the Equipment is essential to its proper, efficient and economic operation.
Sincerely,
LESSEE
City of Okeechobee
By:
Title:
PURCHASE OPTION ADDENDUM
Lease # P/97/
This Purchase Option Addendum is made part of the Lease Agreement between Riverside
National Bank, as Lessor, and City of Okeechobee (Fire Dept), as Lessee, dated
Or T /0 , 2006.
If Lessee is not in default under the terms of this lease or any other agreement with Lessor,
Lessor hereby grants to Lessee the option, at the end of the original or any renewal term of the
Lease, upon thirty (30) days prior written notice, to purchase the Equipment in whole, and not in
part, on an as -is, where -is basis for One Hundred Fifty and no /100 Dollars ($150.00).
LESSOR:
RIVERSIDE NATIONAL BANK
By: , txr�C,%—
Print Name: Scott Burnett
Title:
Date:
Vice President
49/// / 0
LESSEE:
CITY OF OKEECHOBEE (FIRE DEPT.)
By:
Print Name:
Title: Fire Chief
Date: IO CCTO
Herb Smith