Okaloosa County BOCC — January 7, 2014 — Kansas-Final -Payment — reading text

service, upgrade, modification or overhaul of the Equipment or an item of the Equipment to achieve such condition and upon demand, Obligor shall prompily reimburse Obligee jor all amounts reasonably expended in connection with the foregoing. (d} Storage: Upon written request by the Obligee, the Obligor shall provide free storage for the Equipment or-any item of the Equipment for a period not to exceed 60 days after the expiration of its Contract Term before retuming it fo the Obligee. The Obligor shall arrange for the insurance described to continue in full force and effect with respect to such item during its storage period and the Obligee shall reimburse the Obligor on demand for the incremental premium cost of providing such insurance. X. Miscetlaneous Section 10.03. Notices. All notices shall be sufficiently given and shail be deemed givan when delivered or mailed by registered mail, postage prepaid, to the parties at their respective places of business as first set forth herein or as the parties shall designate hereatter in wating, Section 10.02, Ginding Effect. Obligor acknovdedges this Contract is not binding upon the Obligee or its assignees unless the Conditions to Funding listed on the Documentation Instructions have been met to Obligee’s satisfaction, and Obligee has executed the Contract. Therealter, this Contract shalt inure to ihe benefit of and shall be itinding upon Obligee and Obligor and their respective successors and assigns. Section 10.03. Severabilily. in the event any provision of this Contract shall be held invalid or unenforceable by any court af competent jurisdiction, such holding shell not invalidate or render unenforceable any other provision hereof. Section 10.04, Amendments, Addenda, Changes of Modifications. This Contract may be amended, added to, changed or modified by wrilien Contac! duly executed by Obligee and Obligar. Furthermore, Obligee reserves the right to charge Obligar a fee, to be determined at that time, as cornpensation to Obligee for the additional administrative expense resulting from such amendment, addenda. change or modification. Section 10.05. Execution in Counterparts. This Contract may be simultaneously execuled in several counterparts, each of which shall be an original and aif of which shall constitute but one and the same mstrument. Section 10.06, Captions The captions or headings in this Contract do not define, limit or describe the scope or intent of any provisions or sections of this Contract. Section 10.07. Master Contract. This Contract can be uthzed as a Master Contract. This means that the Obligee and the Obligar may agree to ihe financing of additional Equipment under this Contract at some point in the future by executing one or more Additional Schadules to Exnibit A, Exhibit 8, Exhibit C and Exhibit D as well as other exhibits af documents that may be required by Obligee. Additional Schedules will be consecutively numbered on each of the exhibits which make up the Additional Schedule and ail the terms and conditions of the Contract shall govern each Additional Schedule. Section 16,08, Entire Writing. This Contract constitutes the entire writing between Obligee and Obligor. No waiver, consent, modification or change of terms of this Contract shall bind either partly unless in weiling and signed by both parties, and then such waiver, consent, modification of change shail be effective only in the specific instance and for the specific purpose given. There are no understandings, Contracts, representations, conditions, ar warranties, express or implied, which are not specified herein regarding this Contract or the Equipment financed hereunder. Any tecms and conditions of any purchase order of other documents submitted by Obligor in connection with this Contract which are in addition to or inconsistent with ihe terms and conditions of this Contract will not be binding on Obligee and wif nat apply to this Contract. Obliges and Obligor hve caused this Contract to be executed in their names by their duly authorized representatives listed below. oe ; ; 4 a é Pia Pp : Dedtrah MA she) Signature ¢ ff ty gg ignature . . me “i hk ian Kents Clase Marsha Jarvis, Nice President Typed Name and Tite Typed Name and Title OKALO éA\dounry BOARD OF Cay KANSAS STATE BANK OF MANHATTAN REFERENCE: PURCHASING'S ONLINE CONTRACTS PRINTED/ATTACHED BY: BCC FINANCE Schedule (01) EXHIBIT A DESCRIPTION OF EQUIPMENT RE: Government Obligation Contract dated as of December 7, 2010, between’ (Obligee) and Okaloosa County Board of Gommissioners (Obligor) Below is a detailed description of all the items of Equipment including quantity, model number and number where applicable: Four (4) New Volvo G930 Motor Graders, SN: 501935, 501938, 501939 & 501936 As set forth under the terms of the Contract, Obligor grants to Obligee a first lien position on the Additional Collateral described below: Four (4) New 2010 Volvo G930 Motor Graders, SN: 501699, 501710, 501711 & 301712 This Additional Collateral was financed under a Lease with Option to Purchase Contract dated as of June 10, 2010 with Kansas State Bank of Manhattan (Lessor) and Okaloosa County Board of Commissioners (Lessee) and is subject to a lien created therein and currently held by Obligee. Location of Equipment: Chloe (lwaly Lblic ( carbs Leper Santen fe REFERENCE: PURCHASING'S ONLINE CONTRACTS PRINTED/ATTACHED BY: BCC FINANCE Schedule (01) EXHIBIT B PAYMENT SCHEDULE (Obliges} and Okaloosa oe unty Board of Commissioners (Obligar) Date of First Payment: January 15, 20 Original Balance: $635,803.00 Total Number of Payments: Thirty-Seven (37) Number of Payments Per Year: Twelve (12) Pmt Due Contract Applied to Applied to “Purchase No. Date Payment Interest Principal Option Price 1 16-Jan-14 $6,248.61 $2,220.01 $4,028.60 Not Available 2 15-Feb-11 $6,248.61 $2,205.95 $4,042.66 Not Available 3 15-Mar-11 $6,248.61 $2,191.83 $4,056.78 Not Available 4 15-Apr-11 36,248.61 $2,177.67 $4,070.94 $628,338.37 § 18-May-11 $6,248.61 $2,163.45 $4,085.16 $623,967.44 6 15-Jun-11 $6,248.61 $2,149.19 $4,099.42 $619,583.45 7 15-Jul-11 $6,248.61 $2,134.87 $4,113.74 $615,186.36 8 16-Aug-11 $6,248.61 $2,120.51 $4,128.10 $610,776.13 9 18-Sep-11 $6,248.64 $2,106.10 $4,142.51 $606,352.72 10 15-Oct-11 $6,248.64 $2,091.63 $4,156.98 $601,916.09 11 15-Nov-11 $6,248.61 $2,077.12 $4,171.49 $597,466.21 12 15-Dec-1141 $6,248.61 $2,062.55 $4,186.06 $593,003.03 13 16-Jan-12 $6,248.61 $2,047.93 $4,200.68 $588,526.51 14 15-Feb-12 $6,248.61 $2,033.27 $4,215.34 $584,036.61 15 15-Mar-12 $6,248.61 $2,018.55 34,230.06 $579,533.30 16 15-Apr-12 $6,248.61 $2,003.78 $4,244 83 $575,016.53 47 15-May-12 $6,248.61 $1,988.96 $4,259.65 $570,486.26 18 18-Jun-12 $6,248.61 $1,974.08 $4,274.53 $565,942.45 19 15-Jul-12 $6,248.61 $1,959.16 $4,289.45 $561,385.06 20 15-Aug-12 $6,248.61 $1,944.18 $4,304.43 $556,814.06 21 15-Sep-12 $6,248.61 $1,929.15 $4,319.46 $552,229.40 22 16-Oct-12 $6,248.61 $1,914.07 $4,334.54 $547,631.04 23 15-Nov-12 $6,248.61 $1,898.93 $4,349.68 $543,018.93 24 15-Dec-12 $6,248.61 $1,883.75 $4,364.86 $538,303.04 25 15-Jan-13 $6,248.64 $1,868.51 $4,380.10 $533,753.33 26 15-Feb-13 $6,248.61 $1,853.21 $4,395.40 $529,099.75 a7 15-Mar-13 $6,248.61 $1,837.87 $4,410.74 $524,432.27 28 15-Apr-13 $6,248.61 $1,822.46 $4,426.15 $519,750.84 29 15-May-13 $6,248 61 $1,807.04 $4,441.60 $515,055.42 30 18-Jun-13 $6,248.61 $1,791.50 $4,457.11 $510,345.97 3t 45-Jul-13 $6,248.61 $1,775.94 $4,472.67 $505,622.44 32 15-Aug-13 $6,248.61 $1,760.32 $4,488.29 $500,884.80 ° REFERENCE: PURCHASING'S ONLINE CONTRACTS PRINTED/ATTACHED BY: BCC FINANCE : Schedule (01} EXHIBIT B PAYMENT SCHEDULE (Continued) RE: Government Obligation Contract dated as of December 7, 2010, between Kans; {Gbligee) and Okaloosa County Board of Commissioners (Obligor) Pmt Due Contract Applied to Applied to No. Date Payment Interest Principal 33 15-Sep-13 $6,248.61 $1,744.65 $4,503.96 34 16-Oct-13 $6,248.64 $1,728.92 $4,519.69 $491, 367. 00 35 15-Nov-13 $6,248.61 $1,713.14 $4,535.47 $486,586.76 36 15-Dec-13 $6,248.61 $1,697.31 $4,551.30 $481,792.23 37 15-Jan-14 $483,232.00 $1,681.43 $481,550.57 $0.00 Okaloosa County Board of Commissioner: A Signatui Lleyne Horry De rmeser Typed Name and Title "Assumes all Contract Payments due to date are paid REFERENCE: PURCHASING'S ONLINE CONTRACTS _ PRINTED/ATTACHED BY: BCC FINANCE Schedule (01) EXHIBIT C CERTIFICATE OF ACCEPTANCE RE: Government Obligation Contract dated as of December 7, 2010, between Kansas State (Obligee) and Okaloosa County Board of Commissioners {Obligor) |, the undersigned, hereby certify that | am a duly qualified representative of Obligor an authority by the Governing Body of Obligor to sign this Certificate of Acceptance with respe' ig the ibove referenced Contract. | hereby certify that: 1. The Equipment described on Exhibit A has been delivered and installed in accordance with Obligor's specifications. 2. Obfigor has conducted such inspection and/or testing of the Equipment as it deems necessary and appropriate and hereby acknowledges that it accepts the Equipment for all purposes. 3. Obligor has appropriated and/or taken other lawful actions necessary to provide moneys sufficient to pay all Contract Payments required to be paid under the Contract during the current Budget Year of Obligor, and such moneys will be applied in payment of all Contract Payments due and payable during such current Budget Year. 4, Obligor has obtained insurance coverage as required under the Contract from an insurer qualified to do business in the State. 5. No event or condition that constitutes or would constitute an Event of Default exists.as of the date hereof. 6 The governing body of Obligor has approved the authorization, execution and delivery of this Contract on its behalf by the authorized representative of Obligor who signed the Contract. 7. Please list the Source of Funds (Fund Item in Budget) for the Contract Payments that come due under Exhibit B of this Contract. General Fund lf the above Source of Funds js solely a grant type fund, then the Obligor, by signing below, hereby authorizes the General Fund of the Obligor as a backup source of funds from which the Contract Payments can be made. 1, Okaloosa County/ Board of Commissioners, To — L ima Signature | iA Yue he refs Chas verann Typed Name and Title REFERENCE: PURCHASING'S ONLINE CONTRACTS PRINTED/ATTACHED BY: BCC FINANCE Schedule (01) EXHIBIT D OBLIGOR RESOLUTION RE: Government Obligation Contract dated as of December 7, 2010, between Kansas State Bank of M {Obligee) and Okaloosa County Board of Commissioners (Obligor) A a dul cw, id of the Governing Body of the Obligor (as defined in the Contract) held on Aus 148, the following resolution was introduced and adopted: BE IT RESOLVED by the Governing Body of Obligor as follows: 1. Determination of Need. The Governing Body of Obligor has determined that a true and very real need exists for the acquisition of the Equipment described on Exhibit A of the Government Obligation Contract dated as of December 7, 2010, between Okaloosa County Board of Commissioners (Obligor) and Kansas State Bank of Manhattan (Obligee). 2. Approval and Authorization. The Governing Body of Obligor has determined that the Contract, substantially in the form presented to this meeting, is in the best interests of the Obligor for the acquisition of such Equipment, and the Governing Body hereby approves the entering into of the Contract by the Obligor and hereby designates and authorizes the following person(s) to execute and deliver the Contract on Obligor’s behalf with such changes thereto as such person(s) deem(s) appropriate, and any related documents, including any Escrow Contract, necessary to the consummation of the transaction contemplated by the Contract. Authorized individual(s): {Printed or Typed Narne and Title of individual(s) authorized to-execute the Contract) 3.