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c~ OF SAN BERNARD. - REQU'" FOR COUNCIL AC"N
From:
Dean R. Meech
Purchasing Agent
Purchasing
Subject: Amendment to Resolution 84-533
Dept:
Date: May 20. 1985
Synopsis of Previous Council action:
Authorization of installment purchase agreement with Xerox Corporation to
purchase eight copy machines.
Racommended motion:
Rescind Resolution 84-533 and adopt proposed resolution.
Contact person:
Dean R. Meech. Purchasing Agent
Phone:
5085
N/A
Supporting data attached:
FUNDING REQUIREMENTS:
Yes
Ward:
Finance:
Departmental Current COpy
?J~ne AqO~
Amount: $90.648.00
(3 Year Contract)
Source:
Council Notes:
75.0262
Agenda Item N03 J':
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CI. OF SAN BERNARD. - REQU.T FOR COUNCIL A~ON
STAFF REPORT
AMEND RESOLUTION 84-533
The Council on December 17th, 1984 authorized the installment purchase of eight
Xerox machines at a total cost of $79,675.32 for 3 years. The annual interest
rate with Xerox was 12%. This was a negotiated contract through the County of
San Bernardino.
Since the authorization to proceed, the City was able to better the interest rate
offered by Xerox.
The 9.481% interest rate of Security Pacific National Bank is most favorable to
the City. It has taken some time to bring this to its final stage what with the
correspondence between attorneys and Security Pacific National Bank.
The cost at 12% will be for three (3) years lease purchase - 12 quarters paid per
quarter year.
12 Quarters Ea.
Per Year
3 Year Total
- $ 7,771.00
- 31,085.00
- 93,254.00
The cost at 9.481% will be for three, (3) years lease purchase - 12 quarters paid
per quarter year.
12 Quarters Ea.
Per Yea r
3 Year Total
- $ 7,554.00
- 30,216.00
- 90,648.00
The final element needed is for the City Council to name in a Resolution the Sec-
urity Pacific National Bank as the party in the agreement the City is doing bus-
iness with, not the Xerox Corporation. The Security Pacific National Bank will
fund to Xerox and therefore hold title on the machines. It is a formality they
insist on to protect their interest. It is a reasonable request and the last
element needed to close and fund the lease purchase.
It is therefore recommended that the Council adopt the Resolution.
75..0264
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I RESOLUTION NO.
2 RESOLUTION 0;;' THE CITY OF SAN BERNARDINO APPROVING TilE
l',n:r.llTTON OF ^ LEAf;" f'IJI!CHASF. ^GRF.EMr'~NT WITH Sf:CURI1'Y PACIFIC
NATIONAL BANK PERTAINING TO EIGHT XEROX COPY MACHINES AND
REPEALING RESOLUTION NO. 84-533.
4
BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY
5 OF SAN BERNARDINO AS FOLLOWS:
6
SECTION 1. The Mayor of the City of San Bernardino is
7 authorized and directed to execute on behalf of said City, a
8 master lease of personal property with Security Pacific National
9 Bank, Lease Schedule letter dated March 19, 1985, its Amendment,
10 Financing Statement, and Lease Insurance Authorization letter,
II attached hereto, incorporated herein by reference and marked
12 respectively Exhibits A, B, C, D, and E, constituting a lease
13 purchase agreement, pertaining to the use and acquisition of
14 eight Xerox copy machines described as follows: (2) two Xerox
15
Model 1035, (4) four Xerox Model 1045, (1) one Xerox Model 1075,
(1) one Xero~~del 2830.
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SECTION 2. All prior negotiations pertaining to a lease
18 purchase agreement for eight Xerox copiers from Xerox Corporation
...
19 shall not be applicable tc this agreement or of any force and
20 effect.
21
SECTION 3. Resolution No. 84-533 is hereby repealed.
22 I HEREBY CERTIFY that the foregoing resolution was duly
23 adopted by the Mayor and Common Council of the City of San
24
Bernardino at a
meeting thereof,
25
held on the
l
day of
, 1985, by the
26 following vote, to wit:
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AYES: .
Council Members
NAYS:
ABSENT :,
City Clerk
The foregoing resolution is hereby approved this
day of
, 1985.
Mayor of the City of San Bernardino
Approved as to form:
~)hU~
C ty t orney
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f~STCR LEASE OF PERSO~AL p~orrR1Y
Security P.J,-,=i[ic N3lion::ll O.1nk, herein referred to .J~ "Lessor",
hereby lc.J~cs to thc ul1Jcrsi~ncJ "Lessee", .1nJ LC55CC hereby
lC;l:;cs from Lessor th" pcrsor,Jl propeTty (hcn.:i:. c.Jllcd "Cquipr.lcnt.")
described below, upon the tcr~~ Jnd ~ondition~ hcrein.Jftcr set
fo""th:
I,
1. DEFI~1T10~S. For ~ll purposes herein, and for the purpose
of the documen ti executed pursu:m thereto, the fo 110wing terms
sh~ll h~ve the follolling me~nings (stlch'd,qfihitions
equ~lly applicable to both the singui4r;,.nd the
, ,
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thereof or to any gender thereof), \il1..l~~the
othcr\dse:
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(a) Commitment Letter. "Commitment Letter" shal'1l\lltlln
. lener llgreement between Lessor llnd Lessee des;~ing,
Lessor's commitment to Lessee to enter into the '~el!stng
transaction described therein under and pursuant to the
terms and ~onditions of said Commitment Letter and this
~Iaster Lease and the applicable 'Lease Scheduh(Jl~<I
said Commitment Letter shall be deemed incorpot.ted
herein and a p~rt'Qf this Le~se.an4 th~
Ss;lled"le(s).
(b) Equ;pt:lent. "Equipment" shall mean all that, eCluipment
leased to,Lessee pursuant to this L:~se, aS,more fullY'
described in the Le:lse Sche~"le(s) annexed or to be
~nne"ed hereto. '.h;ch must b~ :lnd rem:lin t:lngiblejlersollaJ.
property,;andfo'l" an)' unit or part tl','"'reof, together with
all ::.dditions, ncccssoricz, at.t~chmcnts, coraponont's, :pa.'l"C'
P='~ ts th-;:rcto .:l.:"d right: ?-s to \'iarranty or indcmnit)" froiL
,Wi' sclh:r~ t ~tlppllcrs, m:.:.nllCo.ctu"crs,' tr.:l'nsportcr,s. or
in~t.:J.ll(:r:::; l11'.;:rC~)r.
(c) E(luit'.::l":lt C:~)'1.. tfEquipment CO:HII ::;11;.111 mc'anthe'
,jg;;':"C;'::lL'~, ~L':'.: u[ all E'1I.~~:::.:(.::ot lC~:i~J to l.iJ:.;,5C~ plt'.'~1.l:1:'ft
to th.: tC:-::I:; 'oJr thi:; Ha~~t-c'r Lc:!:;c," ci"t the Jatcrminj~l"',
of ;ll1'l u::it or :l:l:': t~:"':'l',)f :1:; inttiCJ~L''': i;;,t:l,,:,:L~;,~,~.:'
SC;:"~'j.l(:(",) ;ni1'.':,cIl 0:' :.\; t--,,;O ~;J:!1t:X.t:'(! lH:'!"\::'0. ~:t)'r.i:'i!l:
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L'>\Ul;l::-:CI:t Co~t on :H.y l.CJ,SC Scheuulc(::;) in D.ccord:wcc
,,'it:: the ;;~ovi~~ic::::. of Por:l~T.:J.ph " il'...'rcof, to pIt:l\'iJc for
~n~ C1C~:C~: of s~iJ ['lllipmcnt Co~t not rcrlcctcJ thcT~in
or to prcviJc for purch:J.::c return,:, ~11oH~accs or aJju:;t;::'Cll:':
thereon.
(d) LCJ.5C Schedule. 'ILcasc Schedule't sh:ll mean ~ schcJulc
or [qlliplncnt listing, describing and pricing at Equipment
Cost~ the Equipment lensed. or to be le~scd upon Lessor's
3cceptancc of Lessee's request therefor.
(e) nJ.st'?:-- 1,';.:l$C. The tc:,i!',S "t.laster Le:lse of Personal
Property", "Haster Leo.se", and/oT' "Leasel! nnd all ,references
thereto, as used throughout this ins~Tument, all L~ase
Schedules and all documents issued and executed pursuant
hereto or thereto, shall mean this instrument as originally
executed or if later extended. renewed. amended or supple-
mented, then as S~ extended, renewed, amended or supplemented.
(f) Net Proc:eec.s.
In any sale b~,Lessor of the Equipment
or an)' \...lit or pa:-t thereof, "Net Proceeds" shall mean the
awo~nt received in cash upon the sale thereof,. less all
expenses incur~ed by or for Lessor in connection wit~ such
sole, in:.:luding rcconditionin,g and removal expenses, repalr
costs and comrais$ions, reasonable ::ttorneys t fees and less
all :.;U;:1S ~CCT\';CJ and unp3id to Lessor, pu!"su::mt to this
~l~~~cr LCGsc, to tIle date of such sale.
2.
COtlcuT;-cntly hcreh'ith ::md/or fro~ tir.'.c to
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tl..,~ hcr:::a~:c;-, TC'1L:L':.:t tr.c l<'::l:~C of Equipr.lcnt purSu~llt h~rcto.
l':.D:-. t;,'.' Ll'.'O:-:l~Jlc rl'~')C\; :ll',; :.zcccpt.::mcc: of ':JnY sue:. Teq:;2$: bj'
Lc::.:::,,: U::":'~'; ,-L..' '.:...:~::,::; 0: ;.; c..n;;;;::ti;,cat Lcttc!', OT o~;;cn\'i$c, in
'r..h,.:;:.~' 0:' in r>:':':-~I :u,,! \':,,";n L<.::;:;nr':;; rc..:cipt of ~ooJ, m::lrk";:':;;Jbl~
J:h: ;.::".~:i.n:,~'.'~ ~.:.:-~,~ ill .:l:;~ t(1 the [quiP::"i1l, ~:!.iJ Eq;~iI'!:':"'I~t ~l:,:l:
be >_':; .','.:,.l 1'1::-:: 1::;1.
[0 t!l~' tc:'~: or tll.i~ ~l::~t~r LCJS~. All itC~i~ ~:
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Scl~cJul~~ ~11;Jl1 be ~c;I.lratc ~nJ con~ccutivcly nu~LcrcJ and sh~11
be for ;).r.~ollnt:; 5.:1ti~,f:.c~ory to I.c~::;or. It is UflJC:::.tcoJ OJ'ld
3~rccJ th.Jt unit:; of ::'\l:ipmcnt may be r.lJintain{;d or lcc:It.::-c.! at
different bU5incss lcc:ltions, ~ay bc :c!~c:lulc~ at JifEcrcnt ti~c~,
m~y be lcascJ for different pcric2s, may require diffcrcnt rcn~J.l
ToteS and on account of any such differences, such units shall,
at the discretion of Lessor, be lensed pursuant to a separate
L~J.se SchcJulc hereto, notwithstanding that said units arc co~bine~
in one request for le3sc or may coexist at one sinsle location.
3. RE~!T. 'The tot:J.l rent paY3ble hc-reunder, including in-~erest
shall be the ag~reg~te rent of and as set forth on each and every
Lc~;c S:hcdule executed pursuant hereto. ~e~see.promises LO pay
Lessor s~i~ rent including interest as indicated OJ: the. Lease
Schedule(s).
4. LEASE SCHEDULE ADJUSnlENTS, Lessor may make adjustments for
the benefit of Lessee to the Equipment Cost and total rental
listed on any Lease Schedule pursuant to the provisions of
Section l(c) hereinabove and/or Section 13 hereinbelow. Periodic
rental payments shall also be propor~ionately adjuste~, so tha: t~e
adjusted total rental will be paid in fcc' by the end of the Leas.
Schedule term. Lessor will give Lessee notice of ~ny such adjust-
ment within'ten (10) days thereof.
S. TER~1. The term or each Lease Sc)'ledule shall 'be and continue
for the ti~c the~ein provided, or fvr any renewals or ~xtensions
thc~cof unl~s~ caTlle; tcr:..inatcd pursuant to the provisions of
P=,ro.~T:l.phs 13. .:.1, cr.22 herein.
6. ECUIP:'IE>:T SE!..ECTIO:-l AND ORDERING. Lessee h:l.s selected the
qu~ntity and :upplicrs or tIle Equipment leascd hcrcunder. Lessee
sl~_ll cn~urc th~[ 0.11 Equip:;\c::t is properly invoiccJ to Lessor.
Lc~~or ~h~ll :~~~rt :!~~ ~cri~l 11u~bcr, dcscrilltive ~Jtcri~t!.
Equip;~~nt Cost, ~;IJ ~tllcr relevant m~[tcrs on ~n ap!'TOpri~tc lC~:2
~~1:(,\!lJ.l,~. LL':'_;,i:~ :;:i.\LI. :':GT
L1:\]:~E FOlt, NOl~ ~ij,\LL TIi:: V:\i..rr:IT'.
O~ 'i'illS L:,\.~:L, o:~ ....., U:..\SC :~r.;I:::;UU: Dr. AFFEC':-::D p,y :\~:y Di::L,\Y 1.'<
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h~\'~~ ;-.0 duty to in~'.pl'c~ th~ Equipl;lcnt. If the [quir~c:1t i:; not
rrc~:rly itl~t~ll~J. ~O~.; llOt ollcr3tc a~ rc~r~~c;.:cJ or warr~lltcj
by ~~y :;Ui'plicr or i~ uns~ti~f~ctory for any rca~on, Lc~:cc sh~ll
make ;l:1)' c1:.i:::. on account thereof solely ar;3in:;t ~aiJ. ::;uI'~iic:-.
LES3:E lIer-COY ASSUmS TIIC RISKS, nUr-DC:IS AND OOLIr.AT!O:IS TO MI'I
SU!'p:'leR O~ ACCOUNT Or- NONACCEPTANCE OF THE EQUrr,ID'T A~D/OR
CANC:LLAT!ON OF TilE LEASE "NO UPON TilE OCCURRENCE OF SUCII EVENT
LESS,JR \lILL ASSIGN, WITHOUT RECOURSE OR \~ARRANTY, ITS RIGHTS A:m
TITLE TO SAID PURCHASE Or-DER AND ANY INVOICES TO LESSEE.
7. l1SE AND ~IAI~TE;..J.r\NCE. Lessee agrees to use the Equipment in a
care:ul and proper manner, and to comply with and conform to all
fcc~~3l, state, municipal, and other laws, ordinances and regula.
tio~5 applic3b~e in any way to the possession, use or maintenance
of t~e Equipment and to comply with and observe all condi~ions o~
coverage of any policy of insurance maintained thereon.by Lessee,
.all operation and maintenance instruction~ and manuals and
custo~ary t.ade practices applicable to the Equipment. .The Equip~ent
shall enly be used by qualified (and if r:quired by law or
re~~2ation, duly lice~sed) employees of' Lessee. Subject to the
fore;o.ng, Lessee shall be entitled to unlimited use of the
Equ:?~cnt and to operate the Equipment at any time and for any
per~~d of ti~e at the convenience of Lessee and Lessee may use
the zquipment for such p~rposcs and functions as it may dec~
ncc~5s~ry or convenient.
8. CLAI~S ACA!~ST SUPPLIERS. Lessor authori:es an~ appoint~
Lessee to e~rorcc, in its own name, aI1Y claim worranty, ng~cemcn:
or ~cprcsent~:ion wtlich m~y be ma~e against ony supplier of said
Equ:.?::-:cnt. r,UT LES:.orr ~lAK[S NO EXPRESS OR U1PLIED N.-\Rrv\NTIES AS
'IO .":.:~)' ~1.'\T7r!"', \.,'ji.\TS0LV:':'i~, I:-;CLUDl~~C) \\'ITiiCUT LD1IT.-\T:(j~, Tji,:;'
r.:':~;'::;l OF 0;, [::;:;):\C:..\~iLI7Y OF AN'; SUCll ~:'.\D:. ht,\;:i\;\~:TY, AGi\E;':~lC';7
or: ?':jlr.::';~:i.;..-\T;C:~. ~:.1 O:::"[CI" OI~ u;.:rI7~!E~S or TllL: r.(UIr~lE:\':- SII.'.J.L
f{::;.:~~!i: LI~:::"~::~. CF j't;;: ui::"!G.\Tll)~j TO Pl\Y :-',::::1. o:~ cr ;\~~y 07l:i.:!i 0;;.
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9. !:l~~.~:.:~~~~i2?~,-::TY. LE~:SGP.. :;CT m: I ~:\~ "filE ~1/\.':::L\Ci'U;t:':::
OR SGO'rLlER or "\~;Y or TI,[ CQUlrm,,'iT ~OR t\ DL\l.r,1l I~ SI:,IlL:,R
[C:U!['~::::T. lIAS i\01' ~::\rJr: A~,D OOl:S :-107 ~I,\K[ /\~.'.' ~.I:rR[S[NT.\TIO~I.
\';Ai:.fL\):'fY. OR COvE>;:\~n, EXPRESS OR r:.;PLIED, \\1Tl: RESPECT TO TUl:
DES!Ci:, DUR;\OILlTY, FlTilESS FOR USE, SUITAOILITY OR HEP,ClIA:ITlp.rLl,',
OF TilE CQUlr~IC~T IN ANY Rr:SPr:CT. AND AS BCTI'IH!-l USSOR AND USSCE,
ALL EQUIP~IE:IT SHALL Br: ACCEPTED AND LEASr:O BY Lr:SSH "WIIERr: IS",
",\: IS" AND "[OTH ALL FAULTS", AND Lr:SSOR SHALL NOT BE :'.CSPOXSlnLE
FOR AXY PATENT OR L,~TENT DEFECTS TIlr:REIN. LESSEE AGREES TO
SETTLE SUCH CLAIHS DIRECTLY WITH THE SUPPLIERS AND WILL NOT ASSERT
AXY SUCH CLA I~lS ACA n:ST LESSOR,
lO.'~. ,Title in or to said ~quipment shall not pass to Lessee,
exc~pt in ~ccordan~e with the teTms, conditions and provisions of
this Le3se and pursuant to the rights herein expressly granted
to Lessee. Lessor and Lessee do nc~ inten~ nor admit that this
Le3se is intended as security. but to the extent (at any time or
froc time to ~irne), if any, that this Lease is asserted to be or
have been in~ended as security, Lessee and Lessor intend and
agree that Lessee he~eby grants a securi~y interest to Lessor in
the equip~ent leased hereby, the proceeds of any sale, assign~e~t,
le~se, or s~blense thereof, and any other rights Lessee may h~ve
in OT to said equipment or proceeds. At the expense of LesseeJ
Lesse~ agrees to cooperate with Lessor in execu~ing su~h financins
st~tc~cnts or other documcnt~ticn required by law, the U.C.C. or
othcn:ise to pre teet Le~sor's title and rights to said Equlpr..cnt
an~ Lessee irrcvoc~bly authori:cs Lessor to file finallcins st~:e-
ments :;i;~cJ only by LC5S0r in all jurisdictioT\ whcrc permitted
by l~\:.
11. ,.\:.7;:R,\Ti\'J":'~. L..::~~:!.:~ s11;.111 notify l.C:;:Jor .:l::J sl1;l11 f.1.1h.,: .111
altcf:Jtion:;;. f;;oll~ri";.Jtj)jl~, aJJit''''Il:; 0r ~tt.:lc:::;ll::~lt~ dc~::',c..:
;l'.:-(:.::....~;l:..: b'/ a:::: L.<'~'r;~l, st,;t~ Qr l\.h:al ~~O\:,,;~':,:'~cn:.:.:ll j,~~l'll"::: Ci.H
.:,e "':';;:::'~:-:'.:2~: ~:.,,:.~':;I;:L'~':; 0: tliL' Cquip':ll'nt. Lc~,:;l.:C i:; r.cr..:'b~'
!:l':C.; ~~:.-: i"i)" .:.: d~ ..l'!\' '- '.".c, ~o ...1" o~!::.:-:- ;dt,-':':;:'~'::.:'
r....;..1: ~';';~:~ull:'. :J.J.;:: .',;;--.; l1:' .~:~::(h~:':;l:-:', t.:. t1.. ['I;:i;l-,::L'::: ~;0 1..:-::;:
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.:!.:.:; t~;..; vJ,lu~ or the' W ~<;~jllC~:..i of the [qL:ip;:,cnt i:.:. r;ct rcd;.:ce.J
tllcrcby. Lcs~cc sh~l_ i10t ~ltcr, remove, (lef~cc, destroy or
pC.:~;:1:1L':1tly CO\'C'~ In)" 1~:1;:t:r~ll.::uJ'(:rI3 n~l7':.cjll;..lte. ~cri;)~ nU::jt:~r
or otl:er si~ilJr distinzuishing Ilumhcr or mark on the Equipment.
Except ~s otherwise ~grccd by 1.cs~OTt nIl alterations, modi~!catic~:,
ncditions and at'tachmcnts of whatsoever kind or noture made to
the Equipment sholl ir.1mcdi3tcly be subj ect to 011 be terms of
this Lc:1se.
12. LABELS. If Lessor supplies Lessee with labels, plotes or
other markin~s showing Lessor's interest in the Equipment, Lessee
shall offix o3d keep the same oifixed te each seporotely ploced
,or housed component thereof in a prominent place thereon.
13. LOSS P!D DA~tAGc. Less-ee sholl assume and beor risk of IDSS
and domoge (includin; any gove~nmental requisition, condemnation
or confiscation) to the :quipment and all component parts thereof
from any and every cause whatsoever, whether or not covered by
insurance. No loss or damage to the Equipment or any com~onent
pa~t thereof shall i:::~'cir an)" obligation: of lessee unde~ this
Leose, which shall continue in full force and effect except as
hereinafter expressly provided. lessee shall repa'r or cause to
be repaired all d~~c~ci to the E'~iprnc~t. In the event .,h3t all
or po.rt of the Equipment shall, as a result of any cause whatso-
ever, become lost, stolen, destroyed. at rendered irreparably
u7!~:ablc or d~c~gcd, ~s dctcrrnincJ b:" L~~w~~J tl1cn Lessee sh311
"lthi~ ten (10) d~ys aftor it shall h3ve made such ~ctermin~~ic~,
fully infor~ Lessor in reg3rJ thereto and sh~ll pay Lessor the
r':.!f:oinir.z I"c:1t.:!.1.:; ut.:e as of t;.~ date of payme:1t thereof, nnJ. all
r-..:::::.:;;.l:.; JnJ ut;l~r $1:::.:, r~st due' 0\" b~co,n:ing Ju~ to anJ inclu.lil::-:
:.:~~~: ~:;\:;;::""l::: ":'~1:";1 in re::.pcct . [ ::'UC:l [qui~;!;:~'nt.. Upon p.:.::m~!1~
or ::':lic: ,::Jl;;~.",l:,!::;, t!l'.: !,'~:lSI.:" :::C~~{:Jlllc :;:;hall tL'n:lll:ltc J::; to ~~:li~l
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CU:;:;;:":;:-:;~f'.:~ at 5u..:l. til\l~ a$ all:: ri~;:::.; p:l~:':' to
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~ j':"...':' lJ;,: ~ ~ L~ ,,~": :1:..; JI.': ~'''l.'r~',l ihJ:;,;I.:":":':'lLlI: ..>C Lillo: [qU~;'!l,:;~: t..::
Ll.""::'c:-. or- ::~ O:!;t~~',:i..:-~ hCrl'i.!l pr0\'i~k~l. LC'.;,;\~\~ ."It :.:': ~.':~1::::,'
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a::;rcC's to :mJ 5h311 kL'CP th<.: I::qul{1I:lCnt J.J..:quo.tcl/ insured. '-lith
rc:.>:,~-.~l:'.i~,l~ i:l~'llr..:r~ :-,~ti~-,Ll\.:~cry to Lc:;:.or, .:In...! ~;liJ ia:;u:':l!":c,:
shJ~l protl.'ct ~lll intcrc:,;:" or LC'~;$or :tnJ hI.' for su<.:!l ris!.:s.
ir:.~lu..!i:1" t1lC li;loilitr or Lcs::;or (or pu~;l ic li~bi.liti' and prc;,,:rtj'
d.:lm~gc. and !-~ in sHch amounts o.nJ ror~ a:.; Lcs:;or 1:':.:1)' require. S.:l:~
in:.;urJncc shall name lessor as Dn insurcJ or .:J.JJitional insurc~ an~
sholl not be excess ever otllcr CQVCT.:J.ge but sholl be primo.ry
insur~ncc up to and including the st.:1tcd polic')' limits. S::J.id
in$UTJnCC sh.:J.ll cover th~ interest of botll the Lessor and Lessee in
the EquipmcIlt, or as the case m:J.Y bc, shall protC'ct both the Les~or
and Lessee in respect to all risks arising out of the condition,
delivery, instol1ation, maintenance, use or opcrotions of the Equip=~nt
All su:h insurance shall provide for ten (lO?' days prior 'iTi tten
notice t~ Lessor of cancellation, restriction, or reduction of
coverage. All policies or certificates oi insurance shall be
delivered to Lessor. Said insurance shall be in such amounts as
Lessor ma)" require. The proc.:-eds of said loss or d.:unage insurance
shall be payable to Lessor, but Lessor shall remit all such insurance
proceeds to Lessee at such time as Lessee either (i) pTovides
Lessor satisfactory proof that the damage has been repaire' and
the Equipment has been restored to good working ord.r and condition
or (ii) has p~id to Lessor the amounts o~heTwise du~ to Lessor on
loss of SUC~l Equipment.
15. TAXeS. Lessee shall bo Tesponsible for the timely payment and
discll~rze of all license or rcgis:ration fees, assessments, sales
anJ u:c t~XCS, rcnt~l t~xcs) gross recci?ts taxcs1 person:ll prc?e~:y
t:!.:,:c:::;; ':i'.d ot:lcr t~:'~c: ;~v'..; 0:- l:c:rc~[tcr ir.:poscd by .:.r.y fedcr:!.l, st:tt.~
OT lcc~l ~OVC;::-:i:::::::': U!"'<JfI t:l(> Equii: .::'nt 01' upon the o~:ncr:;;hipl lc:!.s:';'Ig.
pUT'::',~,:r.:-, ro::;~c::>~iGn O~. U~~ th<.::,c\J[ (\,nl.:thcr tb~ S.:llf.~ be :!.:$sc:;scd
tv L,,:;:,::-:,v, ,,:., :',::,~~.:,:). L:.::::;.;,:',~ ::':::..1:1 P~lY .:n.; Ji:.::~:,.~.:::':.' .1t lC'~:;ttc':-:
(10) JJ~::':; L~'~.iJ:-'': J.;,,:li.li,.;Ul:l:CY dny '::':IJ :111 Sli..:h [l'\:S, .J:=.scS$l1lc-r:t::;.
;::.n': ::::;.~-: ":~:":'''::: t.,' ::p: pr'Ji":I" 1l".'':;;:',' J.ut!:\';.i:y, u:11o.:~:-:' (;:l:('n;~~~::
rl,\:~l:":~! by ~~1'.. 0-:- ...l:!:l':".::::'l_' d~r'.:'.:tL'J
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U;':"'1l notice: to L(~:::or, 1:1:I~:. il~ I.l.':'::;cc':; ljl>:: n:1;:;C 3nd at
LCS5CC'S cxpcn:,;c cor.tc:::.t or protc:;t o.ny such tax.es. Lc:.;scc ::;1~J11.
i:-. j.JJitio::. be rcspo:1$iLlc to Lcs:;or for the p3/"l7lCnt ant! di~ch::lr:.:c
cr ~~)' pcrl~ltics or interest. Nuthin~ llcr~in 511~11 be con5tru~d t:
require Lessee to be so respollsiblc for any feJer31 or st3te t:xc:.
or pJ.y~cnts in lieu thereof, imposed upon or measured by the net
income of Lessor or, except ns provided hcrcinnbovc, any pen~lties
or interest resulting from Lessor's failurq to timely remit such
tilX p:tYJncnts.
16. LIE):S .'''0 E):CmmRANCES. Lessee will at all times protect and
defend, ~t its 0"'- cost and expense, the Lessor's interest in the
EG.uiIJ::Jcnt and keep the Equipment f~ee and cle~r from all claims,
liens and processes and other encumbrances, except (i) the rights
of Lessor and Lessee hereunder, (ii) liens for taxes either not
yet due or being contested in good faith a~> by appropriate
proceedings, so lon~ as such proceedings do not involve any danger
of the s,le, forfeiture or loss of the Equi~~ent. and (iii) inchoat!
~Jteria1men's, me~hanic's, ~,~kmen's, repairmen's, employees or
--
other like liens arising in the ordinary course of business and
not delinoyent, and (iv) liens and encumbrances arising from the
acts or omissions of Les~or ,-:hich are nct other\ii:se the responsibU.:.ty
of Lessee hereunder.
17. liiUE:'I~lTY. Lessee assumes liability ,for and hereby' agrees
(h'hl!thcr aT not Lessor is othendsc insured thereon) to indemnify I
pr~:cct, s~ve and keep h:rmlcss Lessor and its 3gcnts and employees
free. and ag~i!l:t any ~nd all liabilities, oblig~tions, losses,
~J:~~2~S. penalties, clai@s, t~x ~:~ims oc:ions, suits and proce~di::;~
i:~'.:l:.JJir:" lC~::Jl c~:pcn~cs J;n~: rClsonablc ;lttorney~' fces. of l\hJ.t~~.:~:
C'.'.:r ~;~r."': anJ ;:;J:.-..:r:.:, i;;:i:_~~J 01\, incuj",cJ Lr or .JSS~TtC'J .:tt;lin~;:
L~s~or bcc:u=~ oi tll~ ~JllUfJ(~ll~Cr, pllrch~s~, tY3nsport:ttion
:":'(:'~:l::. :
" o~:
C::;cl\.:J:;:~~ aiJ:.:..:l1litc nl' strict 1i.:::.1i1io;:y Li'l
tijr:, c":.:'r~;,::' ,l:- u\~~,:r~:i~;(:) U:'I.' 0r rej('ct:I.)r. llf th~ [~ill~i~mL':I:'
(;;:-':~:hl;;:'.'., ..;~".,'::t L:li~::;. :'.. Lltl'JH :"::l,:ctL..'l" Jo.:~."':'L'::"', \,.~,.--t~;I.':'
c:" II:': ...!:"('-.':'::::~'!': u L~;:;~;~':' ,_::" Lo.::;:I.'('I, ;1::.: :IL;" (,;:
~ ~~;. :':: ~ " ::
tr:~J~~,;lr:. or (\);l:'rl:':il~ in~'rlJ\~I".':::I".'lIt.
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IS. U:SSOr-'S ~rf-.rO~~~r: OrTI0~~. ShoulJ L~~scc f<!il to mal:c J.n:.
p:ly~:nt or to J~ any -t:~ provi.lcJ by thi~ ~c~~c. tl:cn Lcs~or S!l~::
h:l.\'c :~c ril:ht (but not the: obli~3tion). without notice to Lessee
of its intention to do so and witllout releasinc Lessee from any
oblis~tiOl\ llcrcunJcT, to make 6r to do the same, to make advances
to prcscn'c the Equipment or L~$sor I s in',.cTcst thereto, and to pay,
purcl135c) contest or compromise any insul;:ncc pTc~ium, encumbr3ILce,
charg,c, tox lien 0; other sum "hich in the judgement of Less'or
appears to affect the Equipment or the interest of Lcz!~r theTeto~
a"~ in exercising Jny such right~J Lessor ffi3Y incur any liability
anc expend whatever amounts in its -bsolute discretion it may deem
necess,ry therefor. All sums so incurred or expended by Lessor
sh,ll be due and payable by Lessee within ten (10) days of notice
thereof.
19. ASS IG~~ll!Nl. Any tTilnsfer t .. ssignment J sublease J conveyance
or pledge of Lessee's intere~t in and to tt~~ Lease or the Equip~en:,
whether by operation of law or ctherwise, without the prior written
consent of LessorJ shall be void. LessoTJ its successors and
assigns, may assign this Lease and/or gr":nt security 'interests
therein or in the Equipment, in whole or in part, without notlce
to Lessee.
20. su!'\.nE~:DER Of EOU!P~lE?':T. Unless Lessee exercis"es its option to
purC!l~SC under POT~graph 25 hereof, at Lessor's request, upon
cxpir~tion or ~~~licr tC:~lin~tion of this Le~sl, or any rcne~al or
cxtcnsio~ . ~-~of with respect to the E~uipmcnt, Lessee sh~ll TC:U~~
the s~~c to LC~~OT in good rep~ir, co~~itio;l ~Ilj workinz orJcr,
0:-": 1:-::: rj' '.':C:l:" ~,!.J. -;'(:~T ,"c':5ul :.:n;::. fron rTOpcr ll~C thl.~T:...'of :!.10n"
e::CI.:r:....:.,: (.:) l..:;: d("l~.';c:.~. or ~:;.' ::.:.:::...' .:li: Lc~s..::..."S co::.t .1n..: ~xpcr.:.:;c
~.;o JUc;, ;11:!.i.:c .1:; L,~:;::;or :.;11::.11 ::;rcci[;.' \.;ithin the ~olliltr ''';l~l.'e $:li~
~'''~'l....''\ i~; ~v,,:::::'..:,i. (J;" (:;) iii' l.::;L~:::~'. t!h:
1\'1 t;~in t;~2:~:l:'.:-::
\,;:','r':.: :':;;li~! :C.i';~i\:,.:;l~ i:, h,:;:~c,!.1: Ll':':;:..,:c.:' ":c.:,,~ J.nd ('xr('::s.:
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de;tin.lti(}:: Jc:...i.:-'.n:1tc.J by Lc:',~or. LI..'::;::;("': :oklll Lc rc:,p"~n:;ib~<.:. :J.t
it~ e~:lcnsc. for the prO[lCr anJ aJcqlJ~~C packin~ ~nJ crotin~ of
the [quipl:,,:cnt. "hic!1 sklll incluJc, if llC'ce:.;:.o.ry to preserve ,:my
~arr~ntics or 3zrcc:~cnt~ in respect to the E4Uil)l~cnt, the SUI)Crvi:.~:~
~Ild/or hJnJlillg of s~iJ pachin~ ~nJ ~r3tin~ by rnJnuf~cturcr's
rcprc:.cntJ.ti\"c:s. "Nothing hcrein shall prevent Lessor from :lbandoni:-:;
any or all of tIle Equipmcl1t in place upon the expiration of Lease
terms \\'ithout anr li:tbility therefor to Lessee.
21. EVE~TS OF DEFAULT, The OCCUTronce of any of the following
events shJIl, at thc option of Lessor, constitute an event of
dC!J.ult under this LC3SC:
(a) .The nonp"Ylnent by Lessee of any rental payment when due, or
the nonpayment by Lessee of any other sum required hereunder to
be paid by Lessee, which nonpayment continuos for a period of ten
(10) days following written notice ther~of from Lessor. ,
(b) The failure of Lessee to ?erform any other term, covenant or
condition of this Lease which is not cured within ten (10) daY$
aftor "ritten nodce thereof from Lessor,.
.'
(c) The failure of Lossee to meet Lessee's bond or other material
credit obligations "hen required under the instrument(s) evidencing
such obligations.
(cl) The deteroination th~t any of Lessee's representations or
W~Tr~nties made herein or on any statement OT certificate at any
gi\"cn tii:lC in ~iTitin~ pursu::1nt heroto or in connection here'iith
a~c f~l~c or ~i~lc~~in2 in any material respect.
2:. R[~IEDIES. Shculd ~ny eVC!lt of default occur and be continuin~1
Lcs~or m~y without Tct~king po~scssion of the leased property, holJ
Lc~:cc li;:;.ulc fOT all rents J.nd other ::;U::1S Hhich sholl bccorr:c due'
:!:~r~~ftc~ ~~~~~ ~,1~ Lcr~;~ or tl:i~ lCJ~~ anJ m3Y Tcco~cr sue:, S~~~
f;-~:~ Lc::;~.;:~ (r'~.:r~ ::il;:t:: to t...l:-L'~" ~:; th~r ucco:;:c Ju',; or at any til~~C'
t::~rC:~L-:'';:- (:.;,;:";~.~:t ~: :111." ;l,,'1 iC:Jhlc ::;t:tt\l:'C'~ of lir::it:lti ::). or
Ll':';:,jU:- ::;:::: rc::;:,,' C;.':: I.L'~:;',0r. inJ....'pcnJ..;:lt CiJl\t~';:':~ur;:., or bj'
r..:=,:',,: ;"!..
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of :'~"': !:':l:i;':::l'~: (\-:i!~,' 'I!. liJbility ti~ !L':',:,ec t!l'.':"::'Jr, .....,hich i::::
h~rc~~ c~prc~~1y \~oiveJl ~nJ eitl1ur:
(:11 1~~tJ~:1 I)OS~cs~i0~1 0~ tll~ [L!llip~cnt ;l~ll tC"~ill~tc thi~ LCJ~e
by Sivi!\S Lcs~ce tCI~ (10) Jay~ writtcll noticc to thJt effcct, in
"hid\ c\'cnt Lessee shJl1 be liable for 311 rcnt::. ~IHl olther sun:::
nccrucJ 3nJ unp~id prior to such termination.
(b) LC:1:';c the Equipment to 3 third p:lrty for the account of Lessee
and recover from Lessee any deficiency between the rents provided
for herein os the)' foll due ond those received from such third potty.
(cl S ell such Equipment at public Or private sole, in which event
Lc~:.;ce sh311 be li~ble to Lessor in the amount, if any, by which
the ~et Proceeds of sale shall be less th~n the plesent v~lue of
'the then bal"onc,e of rentols and inter~st due on the f.quipment.
Lessor's pursuit ~~d enforcement of anyone or more remedy shall net
be deemed an elec~ion or waiver by Lessor of an)' other re~ed)'. Any
~et Preceeds received by Lessor in excess of all rem~ining rents
and other amounts due Lessor hereunder sho'l be received for the
account of Lessee but Lessor shall have no liabilit)' for in~erest
'thereon. Lessor shall not be entitled to recover a greater amount
in dornages thon Lessor could have ~oined by receipt 'of Lessee's full,
ti~cly and complete periorm~nce of its obligations pursuant to the
tcr~s or this Le~~c. In addition, Lessor shall attempt in good
faith to mitigate its da~ages, but Lessor shall not be obligated to
scl! or re-lease the EquipmQ~t and in the event of ~ny such sale
Lc:;:;.or iilO;: bill ur;on ~:~~ pUTciw.se any, of the EqL:i~;;l':-nt. Any sale 0:'
Tc-lc~~c m~y be held ot SUC!l place OT p13cct as are selected by
wit~ or ~ithout 11~vinz tIle Eql1ip:ncnt pTc~cnt. tn~ such sale or rc-
lc~~c, ~~~' be 3t ~;;n~\::~~~ or rct~i11 ill bul~. or i:l p3rc~1~. Ti~2
0..: (,~;J:.:~it;J.;''':: U~- I.:;":'\';~I ul the t('r::l~ ~nJ CO:1~!: ~i'..l;~S of the LC::J~,c J:'~'
h~';f.'::.;: J~',:l.;:'L;": t,,,; ll' (,.' ~!:\..' ('~-,~~l't\CC. Lc:;~or ;:1;,:. J."::C:~;lt ;-':15:: d~;.::
rL;...~.-'~~:~ ',:;~:;L!;_:~ :.:l,',.:::':lr~ :'~I\.': .:':;:' u( thi~', Ll';l:;.' ;2:),\ h.:t:\l;l;~
h:l~';~d~: Ji:;: :-t.:l':~;"::' ..i;,::\~'; ~),' L,':~~t)r h\':'l:Uil\!..::
E:\L:\'ilt ~,,' ~~:rr,,:, ',.
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LnC':.\7!O\ .
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Th',: leel:' >::":1 0 r
tile CqUi;i:'::l.-':l::' $h;l:l LL' =:1~ ltl:fcin:..:tc':_
::;ct
f (}..:.~, ;1 n._!
L\.'~.~',l'l' :;1.,.11 not
remove s.J:! r::u i ill::cn:' the rc r '0::1
\...~tl~O,l::' tl'"..' pri0r ~,rittC:i con;';~nt of Lc::;sor.
2.1. O:Sr[CTIO~; i\Y LESSOR.. Lessor, its og.cnts or employees, sh~11
Dt ~nr anJ ~ll rcason~blc tilacs during business hours have the rich:
to enter into nnd upon the premises ",here any Equipment m:J.Y be
)oCJtcd fOT the purpose of inspecting the $:J.mc OT observing its use.
inter::.':.;;: :it tl.:::: T:ltr..: 0:
pcn:":l'l.t (
25. PURCfl..\~" OPTlO~. Upon Lessee's repayment of all rents and other
su;ns provid~d for in :lny Lease Schedule and upon the termination
of the Lco$c term or any renewal thereof. n11 the right, ~itle and
intc;est of L~ssor in and to the Equipment set forth in its Le~se
Schedule sha.ll vest in and become the property of said Lessee upon
payment vf One Dollar (Sl.Ov) and said Lessor covenants that it "ill
thereupon execute to Lessee, a Bi~l of ~ale of all its ~ight,
interest in and to ~he Equipment under said Lease Schedule as evidence
of said transfer of title. Anything in this Master Lease to the
contrary notwithsta~ding, all replaceme~ts, equipment, repairs or
--
accessories made to or placed in or upon said Equipment shall beco~e
a component part thereof and title thereto shall be immediately
vested in Lessor and shall be included under the terms hereof.. All
2dv~nccs m~dc by Lessor to pre~~Tve said Equip~ent or the interest
of Lessor therein, including attorney~s fees, or to pay insurnnce
pYc~iu~ for insurance thereof or to disch~rge and pay any t~xes,
1 ieJ:s or cncu;;;oT::!nccs th.-::' ;;:\.m ~h:.111 be aJci~d to the UriF:lid bl.llJl1ce
0: rcr~:~ls d1,,;~ hcrcund.'_'r and s11:.11 be Tcp~Y:lbl: by Lessee to lcs.:;c:-
i;:-,::i2ci.:1tcly uron d,:;!);::.n,.l, :lIlJ, if not paid upon ~crr.;)nJ, ::.:111 bc.:n
1 n
~) pc':: .:tnnU::1
ton
t.::;::.. ~ p.:-: ic.
::"". l::';':.;':;~;T. :1:::: :1;;:,'l:I~L', rl"lL:_~'C', tv be P:l;"J b: LC~;~',l.:e rllr:;u.:.,t'
:;,; tl)~~~, L;,;;t:;.: ;';':l;~ n(~~ : .Ji,l \::..'il ,1l1L' (L':,CC'r;~ .:J,", '-'::~l'!;.!L'J in r,1ra~:r;:rh
."1,~,J; h'_'rL:in:..:L,")\",:) ':01\.111 b....':lr ;ll!,!:tlC:\,ll i:d.I.::".;,::,t ;ll t1..;- :.:n.:;i....~:.
r ~ ~ ,,' (,~
L;: ',,-',! Cj"l:;
1:.:\'ij~:: 305 J:1Y:",
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27. 1!:-_.\:1:~:r.':;. Sl...'ctic.t, h,-'~'Jif,:;: hc:-ci:~ .1[C u:C'J for cO;1';cnicnt.:c
only .:lnJ skill not oth\.'r:;i~c of(cct the pruvi~i0r1: or thi:; Leo:;c.
Z::. E:-i:'.CT n~ ~"',\I\'I~. ;';0 r:1i 1:.JfC or JeL::.. 0:1. tht: ro.rt of Lc:;:;or
ill tl\1.: exercise of ~ny power. rigllt or privilc~c hereunJer S}lall
operate .:IS ~ waiver tilercor, nor sh~ll any single or pjrtiol
exercise of any suel1 power, right OT ~rivilcgc preclude other or
further exercise thcrcof:or any other rigl1t, power or privilege.
All rigllts ~nd remedies existing unJcr this M3stor Le3sc arc
cumulative to, ~nd not exclusive of. any rights or rem~dies
otherwise aV.1ilablc.
29. S\JRVIV,\L OF \t!ARP\.-\NTIES. All agreements, rcpTese:ltJ.tions and
waTranties of Lessee made herein shall survive the termination of
this ~l~ster Le3se and allY Le:lze Schedule.
30. APPLICABLE LAN. This Master Lease, the Lease Schedules and
all documents issued or executed pursuant hereto and the rights
and obligations of the parties thereunder and hereunder shall be
governed by the laws of the State of California. If any provision
of ~his Le~se or any remedy provided herein be invalid under any
applicable law, such provision shall be inapplicable and deemed
omitted, but the remaining provisions of this Lease s~all be and
re~~in effective in accoTdance with their terms. TH!S ~~STER LEASE
~!AY O;\LY Be MinDED OR ~IODIflED BY AN INSTRU1.IENT IN WRITll'G SIG::ED
BY 11 DULY Au.nO:U:ED RE?"ESE:nATIVE OF THE PARn' TO ~E CHARGED
rl~E~[;:'Y. LESSe:.: U~:DI:::'S:.-\lms ';;-;D AGREeS THAT NEITHER THE SUPPLIER
NO:~ A~~,{ S.~L~S;.L.:..~ IS A>J AGE:~1 OF LESSOR, A1\D NO SUCH SUPPLIER OR
S,-\U::S:.:"\:\ IS AUTi-!ORIZED TO ALTER, A~.lC<D OR ADD TO ANY TER.~l OR
CC:-:JIT;C:! or: TilIS ;.l.\STC!t LL\St. A?;D NO ".;?l~:SE:iT.\TIO~ AS 70 THL:
EC:'j[:::,;:::-:T or~ ,\\". 0";';1;';:: ~!.\Ti-=!: Wi' A::\' SU:"PLI:'~ Oi~ Sr\Lt~:.L-\>: SlL\L:' 1;.
A~'r;' ~':i\\' :\r::;-,I..":'I" Li:~::::j:~' S DL;TY TO 2i\Y Rr::'~T ,\:w p[::ror'...\\ ITS ';liiE!~
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l"':1~~l' (Uil'.,tilHt..':; c!",:.tt('l P;J.ill:T, nIJ sccurit, intcr'.::,;t therein tn;lj'
.
ccu:~tcri'Jrt. \,']\lc:: :-::::y lJ~' ~'!.... idl'l\ti fil.'u by l.C::;;:;'OI.
be Cl"C':ltt'.1 l.'~:ccpt th;-I)ll~:l\ :.1:..: tr;':Il:-,fcr or po~-.::.c~;:..jQ;1 of thl' o:-i~:i,;.ll
3:. ~,('-:'jC:-:~. All cC';rc~i1':;:1l!cnCCt p;l}'lllcnt:. a:1J/GI nv:'i.ccs 'l~cu.;:ircJ
or pcr~ittcJ to be givel1 sllall be in writing, onJ may be pcr~~nolly
SCl"\'cJ or s'cnt b)"Unitcll $t....tes mail \"ith postage prepaid and
properlyaJJrcssed. For the purposes hereof, the aJdresses of t.he
p~rtics hereto (until notice oE a chango thereof is served as
prodded in the preceding ,entence) shall bo as follows:
LESSOR:
SECUI:IW PACIFIC K\TIOX-'IL B!I,~K
clo SECURITY PACIFIC L~~l~G OCRfO~\TIO~
P,O. Il9x 77ZZ
Son Froncisco, C~ 941Z0
LESSEE:
CITY OF SAN BERNARDINO
250 hcst Cluster Street
San Bernardino, California
33. REPOSSESSION. LESSEE ACKNO~LEDGES THAT. PURSUANT TO PA~~GRAPH 22
HEREOF, LESSOR HAS BEEN GIVEN THE IUGHT TO REPOSSESS THE EQUIP~IE:n
. .
SHOULD LESSEE BECO,lE IN DEFAULT OF liS OBLIGATIONS HEREUNDER. LESSEE
HEREBY I~AIVES THE RIGHi, IF ANY, TO REQUIRE "ESSOR TO G~VE LESSEE
NOTICE AND A JUDICIAL HEARING PRIOR TO EXERCISING SUCH RIGHT OF
/
REPOSSESSION.
. Dated os or:
~larch 19. 1985
SECURITY PACIFIC LEASING CORiORATION
"Attorney-In-Fact" For
SECURITY PACIFIC NATIONAL BANK
"LESSOR"
CITY OF SAN BERNARDINO
"LESSEE"
Bl'
By
Title
Title
Contr:l('t Adrr:jlli~-,tr:ltor
Lc~sc No. 3927
Bl'
Title
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SECURffY PACIFIC NATIONAL BANK
l
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EXECUT1'IE OFF ICE S FOUR EMBAACAOr R(l (:[ NT( R SlHT~ 1200 . SAN FRANCISCO. CA 94111 . POBOX 7722 {941 201 . (415) 445-4482
March 19, 1985
CITY OF SAN BERNARDINO
250 West Cluster Street
San Bernardino, California 92408
Attention: Mr. Dean Meech
Purchasing Agent
Gentlemen:
We are pleased to inform you that, pursuant to your request, we
are agreeable to entering into a leasing transaction with you in
accordance with the terms of the Master Lease and other documen-
tation enclosed herewith and upon the following additional terms
and conditions. The capitalized terms used herein have the same
meanings as set forth in the Master Lease.
Lessee:
SECURITY PACIFIC NATIONAL BANK
CITY OF SAN BERNARDINO
Eight (8) Used Xerox copiers
Lessor reserves the right to approve
any and all items of Equipment prior
to any scheduling under this leasing
line.
Lessor:
EauiDment:
Cost of Eauioment:
This commitment specifically excludes
any item or items of Equipment with
a unit cost of less than $100.00.
Estimated at: $79,000.00
Lessor has approved the leasing
line hereunder for the full estimated
cost. However, in the event of
cost overruns, Lessor reserves the
right to exclude undelivered and
unaccepted items of Equipment in
order to stay within the estimated
Cost, or to include such items and
to adjust the Rentals and rental
rates on this overrun.
EXHI3:T B
. .
.~
;;;iiiiiiOI..
SECURITY
PACIFIC
NATIONAL
BANK
.
Deliverv and Takedown:
Equipment Location:
Base Term of Lease:
Interest Rate:
Rentals:
Property Taxes:
Treatment of Lease:
Purchase Aqreement:
.
.
2
March, 1985
San Bernardino, California
Three (3) Years
9.75 percent
Lessee will be required to make
twelve (12) equal consecutive
quarterly rental payments, each in
advance, at $94.81 per $1,000 of
Equipment Cost. Should the proposed
leased Equipment not be accepted by
Lessee and the Lease Schedule not
executed prior to the Expiration Date,
referred to below, Lessor reserves
the right to extend its commitment
with respect to any portion of this
transaction beyond the Expiration
Date and/or to adjust the rentals.
Lessor intends to report for assess-
ments all property located in Cali-
fornia. Lessee shall reimburse
Lessor (or upon Lessor's request,
pay directly,) such California
property taxes, including (except
where caused solely by Lessor's
acts or omissions) any penalties,
interest and costs of Lessor asso-
ciated therewith.
Lessor and Lessee expressly decline
to make the election (and Lessee
will not take any action which could
be deemed to constitute an election)
to have the Special Rule for Leases
provided by Section 168 (f)(8) of
the Internal Revenue Code of 1954,
as amended, applied to this trans-
action.
At the expiration of the three (3)
year lease term, Lessee agrees to
purchase all of Lessor's right,
title and interest in and to the
Equipment for one dollar ($1.00).
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SECURITY
PACIFIC
NATIONAL
BANK
Insurance:
Lease Schedules:
_'i~_
.
Financial statements:
Tax status:
Opinion of Counsel:
,
I
,
,
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.
.
3
To be provided Lessor in accordance
with the enclosed Lease Insurance
Authorization Letter, prior to fund-
ing.
A $10,000 minimum Equipment Cost
requirement will apply on all lease
scheduling under this commitment.
Should Lessee request scheduling
for amounts between $5,000 and
$10,000, a $150.00 scheduling fee will
be due and payable upon execution
of the Lease Schedule.
Annual report to include Fund Balances
is to be mailed to Security Pacific
National Bank within 120 days from
fiscal year end as well as such
other information.as the Lessor may
from time to time reasonably request.
This Commitment Letter is subject
to Lessee being qualified as a govern-
mental entity of "political sub-
division" within the meaning of
section 103 (a) of the Internal
Revenue Code of 1954, as amended,
and that this transaction will con-
stitute an obligation of the Lessee
within the meaning of said Section.
Lessee agrees to cooperate with
Lessor in providing evidence as
deemed necessary or desirable by
Lessor to substantiate such tax
status.
Lessee shall provide Lessor with
an opinion from Lessee's counsel
stating that the Master Lease of
Personal Property was duly authorized,
executed and delivered by Lessee
and that the leasing transaction is
a valid and binding obligation of
City of San Bernardino in accordance
with its terms.
Such opinion shall also affirm that
the Lessee qualifies as a governmental
entity within the meaning of Section
103 (a) of the Internal Revenue
...
.-
.~
....."
-""',,"~-7~7".--'
SECURliY
PACIFIC
NATIONAL
BANK
opinion of Counsel:
(continued)
Commitment Fee:
.
Lessee Representation:
Documentation:
.
.
4
Code of 1954, as amended, and that
this transaction constitutes an
obligation of the Lessee within the
meaning of said Section.
Counsel shall also opine that all
necessary filings have been made in
order to comply with fraudulent
conveyance or other credit protection
laws, including laws complying with
Bulk Sale, if any, in the State of
California in connection with the
sale and leaseback of the subject
Equipment.
Said opinion shall be delivered
to Lessor prior to the commencement
of said Lease and said opinion must
be acceptable to Lessor's counsel.
A $1,484.00 commitment fee is hereby
due upon receipt of this letter.
This fee is based upon the estimated
total Cost of Equipment to be leased
hereunder and will be applied to
the first rental payment(s) on a
pro rata basis as Equipment is
leased.. If the lease line is not
utilized, fully or in part, any
portion of the commitment fee not
applied to rentals will be retained
by Lessor in consideration of its
work and commitment hereunder.
Lessee hereby warrants that this
transaction does not violate any
terms or conditions of any material
credit agreement or any other agree-
ments or instrument to which Lessee
is a party.
The following additional documents
are necessary to this transaction:
a) Master Lease of Personal
Property
(original and one copy)
b) Amendment to Master Lease of
Personal Property
(original and one copy)
c) Resolution
(original and one copy)
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SECURITY
PACIFIC
NATIONAL
BANK
.
.
.
5
Documentation:
(continued)
d) Information Form (one copy)
e) UCC-l Financing statement
(one)
f) Lease Insurance Authorization
Letter (two copies)
g) Commitment Fee Billing Invoice
h) Opinion of Counsel
Please execute items a through f
above and return them to Lessor,
along with items g and h, as soon
as possible. Upon Lessor's accep-
tance, copies will be returned for
Lessee's files.
The form, substance and enforceability of all instruments required
by Lessor in completing the transaction proposed in this Commitment
Letter must be satisfactory to Lessor's legal counsel. Lessee
agrees to give Lessor such evidence of.compliance with the con-
ditions of the Commitment Letter as such legal counsel may require.
Expenses incurred for or attributable to any significant amount
of lease negotiation, tailoring, or redrafting shall be for the
account of the Lessee.
Expiration Date of
This Commitment:
Lessor's obligation to acquire
and fund Equipment hereunder, term-
inates and expires on Karch 31,1985.
If the Equipment has not been delivered at the above described
Location and accepted by Lessee on Lessor's forms prior to the
above Expiration Date, or there is, prior to said Expiration Date,
in Lessor's opinion, an adverse change in Lessee's financial con-
dition since the date shown on the latest financial statement(s)
which Lessee has furnished Lessor, then, at Lessor's option; Lessor
may terminate its obligations under this Commitment Letter as to
any Equipment which has not theretofore been accepted by Lessee
on Lessor's forms.
This will be a non-cancelable net lease transaction whereby main-
tenance, insurance, full indemnification, property taxes, documen-
tation costs and all items of a similar nature will be for Lessee's
account.
It is understood that Lessor's obligations are contained only
in this Commitment Letter and any amendment to it in writing,
signed by Lessor's authorized officer. The provisions hereof
supersede all prior and contemporaneous discussions, lease appli-
cations and proposals with respect to the transaction described
herein.
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SECURITY
PACIFIC
NATIONAL
BANK
.
.
.
6
If Lessee agrees to enter into the leasing transaction and obtain
Lessor's firm commitment on the terms set forth in this Letter
and in the Master Lease, Lessee must indicate Lessee's acceptance
by executing and delivering to Lessor, at Lessor's office in San
Francisco, California, the enclosed copy of this Letter within
ten (10) days from the date of this letter.
Please be assured of our desire to give you the best and most
efficient leasing service.
Very truly yours,
SECURITY PACIFIC LEASING CORPORATION
"Attorney-in-Fact" for
SECURITY PACIFIC NATIONAL BANK
ACCEPTANCE:
Lessee hereby agrees to enter into the leasinq transaction described
herein on the terms and conditions and with the agreements and
covenants as set forth herein and aqrees that this commitment
Letter shall constitute part of the Master Lease.
CITY OF SAN BERNARDINO
Date
By
Title
By
Title
Enclosures
JJW/lsj
cc: Roger Sprague/SPLC
;, ';,';--'F~f::l'-rr"'i:,..,l,p:~J'T','i'~>:r~~(;
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MASTER
ANEJ>;ml. TO
LEASE OF PERSONAL
.
PROPERTY
Reference is made to that certain Master Lease of Personal Property
dated as of
March 19
, 19~ by and between _CITY OF
SAN BERNARDINO
("Lessee") and
SECURITY PACIFIC NATIONAL
BANK
("Lessor").
1. Section l(a), Definitions: Equipment is hereby amended to
specifically include in the definition of equipment items of
personal property sold by "Lessee" to "Lessor" and leased back to
"Lessee" by "Lessor't.
2. Section 6: Equipment Selection and Ordering is hereby amended to
provide, in addition to the provisions existing therein, that
"Lessee" is f.amiliar with the condition and usefulness of any Equip-
ment sold by "Lessee" to "Lessor" and . "that "Lessee's. execution of a
bill of sale, satisfactory to "Lessor," and .Lease Schedule shall, for
purposed hereof, by "Lessee's" acceptance and certification as to
said Equipment.
3. "Lessee" hereby represents and warrants good and marketable title
(free from any liens or encumbrances) to Equipment to be sold by
"Lessee" to "Lessor" and "Lessee's" rights to transfer said
equipment.
4. Except as herein amended, all terms and conditions and provisions
of said Master Lease of Personal Property remain in full force and
effect.
Dated as of March 19 . 1985 .
SECURITY PACIFIC LEASING CORPORAff5N
"Attorney-in-Fact" for
SECURITY PACIFIC NATIONAL BANK CITY OF SAN BERNARDINO
"Lessor" "Lessee"
~ ~
Title ContrBct Administrator
Title
By
Title
ORIGINAl
rVUIDIT "
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ILUI,uI.l7lJ
UI~livRM (G/\ir..:::;:(!AL CJ&-I'Il~AI';CU..G ~J"An~T-~o..M UCC-I (;((V.
IMPORTANT-Re,:,rnstructions on bock ~re filling out form
1/76)
.
F"
Thj~ FINANCING STATEMENT il presented for filing punuont to the California Uniform Commercial Code.
... ADOI'rIONAL Dtl:lfOR
jlr ANYI
ll....Sl "'...hlE ,.,Ra_II. AN ''''DIVIDUAL,
11"'-. "~C;;I"'L.':CURITVc..R rr:>I'....1 ,#r ...~
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1'~a~'~i~~~n1ino. Cal ifornia I' 0 92'~;i~L'
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1. or_lITQF.:
,.......,. N",MI' r.""T-.-I''''''' ''''DI'''t'lUAll
ClTY Of SAN HEI:NAI<\I1NO
-~-----_.__.._..._- - -- ----,---_._-_._---~----
'D.
...."ILING ALDRL!.!;'
250 W0st Cluster Street
~w.-=~~c::-uD.-;-~s~-------.,--------.j2c (.,~
3. DEBTOR'S TkAOC. NAMES OR Srn..ES lIP ANY'
3A.
1"0
I
"E;DC.RAL TAX NUIooCDEIf
21" C("I:>.
''''TI.
..
4. SECURE:O PARry
..""IE
SEOJRl1Y PACIHC NATIONAL BANK
Post Office P~'X 7722
San Frar.cisco OUT< California
4A. SOCIAL 1o!CUlln .', . UDII.\L 'AI Me.
01 ."IiI. 'lUIS-IT AHD" I,A. NO.
M"ILING ADD"It...
95-2772475
CITT
"'''''.094120
5. ASSoIGNEIE. OF SECURED PARTY '1" ANYI
5A. SOCIAL ncuI'" MO_. '[DUAL TAil liD
01 ..... '..1I1Ii1T 6110 .. .A. NO.
N"Ml"
"""..INO ADDlIE5S
CIT'r
ITAn:
ZIPCODI.
6. This FINANCING STATEMENT covers the fc:lowing types or items of property (inclu';" description of real pr.:>erly on which
'GcClted Gnd owner of record when required by f..,tructlon 4).
Eight (8) Used Xerox Copiers lenseJ p"~su~t to that '.bster Lease of Personal
Property (number 3927) dated as of ~1arch 19, 1985.
Proceeds of Collateral are also covered.
7. Ch..,,,, ~
If APPLICABLE
,
17#1..
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78.
DEBTOR ('l elGNATURI[ NOT REQUIRED IN ACCORDANCE WITH
INO~~;).ON .[J:~';')MI 0(3) 0(4)
O PRODUCTS OF COLLATEItAL
ARE ALSO COVEIED
a. CHtCK [gl
IF A'PLlCAILE
o DEDTOR IS A "n,AN.MITTING UTILITY" IN AC;CORi.. ANC~ WITH ucc I 8105 ,t) '''')
9.
.m, 03/19/85
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10. THIS SPACE fu ' USE OF fiLING OFFICER
(DATE. TINE. FILE NUMBER
AND FILING OFFICER)
~
.IGHATUIIII:C.) OFDEBTOR,_,
CITY OF SAN BER."WU)INO
I\^;.~~
SL:LUiUTY PAClFIC l'\;,n:"'! BANK
1'0,;t Office Box 7720
S:m Fnnci~'co, C~'I.i[on,i~: 9..120
j 2
3
4
I! 5
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I' 7
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" EXHIBIT r
,-
TY"I[ OR "RINT N"'~E:tSI OF' DEBTOR'S'
~
SIGNATURe,., 0" UCUREO "ARTYlInl Contract Administrator
SECURi'fY PACIFlC LEASING r.oRPORATION
"Attorllcy-in- fact'
_"~' ,~"..':"~'}..~E;'\li~J}'d,'(,\CW,l,\;,~^.~!~10~L IW~K
11. R~:UrrJ cory to:
l..~!::~[S$
Cl7Y
sr:,~:-
. .>-
.
.
e
prpe
"
LEASE: t~St.1AANCE AUTHORIZATION LETTER
No:e:; Complete imuf01nce Broker's
name
Addr-.:s..
City, Stale, :Lip
and Phone Number
(If l1gent does no' provide both cover:l:gcs. please
use revent side l"f the ph~ical damage ~rrje:)
To:
Alln:
rhone:
Rc:
CJTY OF S,v; BEln;,\1U11l\O
The INSURANCE REQUIREMENTS lisled below arc rcquired to COver: Eight (8) Used Xerox Cop i c.:rs
11liscquipmentis/willbeloc3tedal ZSO We~t Cluster Street. San Bern;,rc1ino. CA
Evidence of insurancc in the form of a bindcr or cOver lellcr is acccptable until form- I ccnificat.. can be'issued. M3llthis
within five (S) working days to:
SECURITY PACIFIC NATIONAL BANK
'.
(hercinafll:r "Securily Pacific")
"...
A TIN: Insurance Specialist
P.O. Box 7721
San Francisco, California 94120
I. BODILY INJURY AND PROPERTY DAMAGE REQUIREMENTS
A. Sl,ooo,ooo single limit Bodily Injury and Propcny Damage Covcrage. .
B. Endorsement: it is unumlood and agreed Ihat Securily Pacific is included :u an addilional namcd.
insured wi~h respect to the ownership. maintenance or existence of ccrt..ain personal
property le:ued to Ihe named insurcd by Securily Pacific and Ihalthe insurance company
sh.111 be liable under this policy for Ihe full amounl or thc loss up to and including lhe
total limits of liability as sel forth in the declarations without right of contribution from
any conlingent insurance which may be e(fectcd by So':.:rily Pacific. It is 34" understood
thallhe leased cquipmcnt is lcased on a net finance basis, i.e., a non-operating Ic:ue, and
lb31 Security Pacific has no mainlenance or other oblir,tions with respect therelO.
C. Endorscment: It is underslood and agreed that Ihis policy shall not be cancelled nor any reduction or
r,",lnClion of covcrage be cffccted until at least thirty (30) days prior writlcn notice has
been given to: Security Pacific, Atll:lllion: Insurance Specialist, P.O. Box 7722, San
Francisco, California 94120.
ll. PHYSICAL DAMAGE REQUIREMENTS
A. All ?j,k Coverage for not I... than S 79 , 000 - 00
B. Endorsement:" It is understood and agreed thaI Security Pacific is included as an addition:ll named
insured with respect to the owncl'sh;:--. maintenance or existence of ccruin pcrson.3.l
property leased to the named insured by Security}. Oleific 31iJ that the insurance company
shall be liable under this policy for Ihe full amount of the loss up 10 and including the
IOl:lllimits of liability as set forth in the declarations without right of contribution from
any contingent insu:...ncc which may be crfected by SC'.:dty P;Lcific. It is :.ho understood
th~l the lcased cqui:-- nent is Icased on :I. nct rin.ince b3Sis. Le.. a non.operating lease. and
tha.t S~curity Pacific has no maintcn:mcc: or other obli&3tions with respect thereto.
C. E~dorscment: It is understood and agreed that this policy shall not be cancclled nor any reduclion or
restriction of covcr3gc be effected until at IC35t thirty (30) days prior wriuen notice has
t-..!"" given to: Security Pacific. Attention: Insurance Sp~cialist. P.O. Box. 77::':, ~~n
Francis..:o, Calirorni3. 94120
.A standard Ic'ndcr.s toss p:lj'J,blc enJ(.lrscmcnt m::lY be substituted for Item lI(B).
The undersigned Lessee hereby authorizes )'ou to proviJe Security Paci(j~ the above covC'rage:;:
NOTE: [n:cr Lessee's NJmc:
CTTY or SAN DERNARnTN0
By:
Ti:lc:
DJ(c:
~/~~
""SEE TOP'"