Okaloosa County BOCC — January 19, 2016 — Master Lease Schedule No 1
Master Lease Schedule No 1 in the January 19, 2016 Okaloosa County BOCC meeting materials. Preserved county-portal original with machine-generated OCR reading text.
Preserved among the January 19, 2016 Okaloosa County Board of County Commissioners meeting materials (IQM2 meeting 1320). The date shown is the verified meeting context, not an independently established creation date for every attachment. The download catalog used Nov 17, 2015; the meeting date was corrected using the agenda/minutes heading and matching source filename.
Original publication
Master Lease Schedule No 1
Date
January 19, 2016
Publisher
Okaloosa County Board of County Commissioners
Where to find it
4
Reference collection
Okaloosa County Board of County Commissioners (IQM2 public portal)
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Master Lease Schedule No 1 — extracted reading text
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MASTER LEASE SCHEDULE No. 01
LESSEE: Okaloosa County
This Mastet Lease Schedule No. 01 (“Lease Schedule”), dated as of January 13, 2016, constitutes an independent lease
incorporating the terms and conditions of the Master Lease Agreement (“Agreement”), dated as of January 11, 2016 by
and between PHILIPS MEDICAL CAPITAL, LLC (“Lessor”) and Lessee. All capitalized terms in this Lease Schedule
shall have the meanings ascribed to them in the Agreement. To the extent that the terms of this Lease Schedule conflict
with the terms of the Agreement, the terms of this Lease Schedule shall control.
Lessee hereby acknowledges and cettifies that (i) the System and each item thereof described below or in any exhibit
attached hereto was selected by the Lessee, (ii) the Lessee has reviewed and approved the purchase order, supply contract
or purchase agreement covering each item of the System, (iii) as between the Lessor and the Lessee, each such item is
of a size, design, capacity and manufacture acceptable to and suitable for Lessee’s need; and (iv) as of the
Commencement Date, each item of the System has been delivered and inspected by Lessee, is in good working order,
repair and condition and that Lessee unconditionally and irrevocably accepts the System and each item thereof for lease
hereunder.
1. System Description: fifteen (15) Philips HeartStart MRX monitors per quote #060938
2. Provider Name & Address: Southeastern Emergency Equipment, PO Box 1097, Youngsville, NC 27596
3. System Location: 714 Essex Road, Fort Walton Beach, FL. 32547
4. Lease Term: thirty six (36) months starting the first day of the first full month after the “Commencement Date” (as
defined below). Nevertheless, the Lease Term shall automatically renew for an additional 12 months upon payment
terms then in effect unless Lessee notifies Lessor not less than one hundred and eighty (180) days and not more than two
hundred and seventy (270) days prior to the last day of the Lease Term (“Term Expiration Date”) that it is going to return
the System and returns the System on Term Expiration Date. Thereafter, the Lease Term shall extend for additional three
(3) month periods until Lessee has returned or purchased the System as provided for hereunder. For the purposes of this
Lease Schedule, the Commencement Date shall mean the earliest to occur of: (i) the date on which the System is
Available for First Use (as hereinafter defined); (ii) the date on which the Lessor shall have received telephonic
confirmation from the Lessee that the System has been accepted; or (iii) execution by Lessee of a Delivery and
Acceptance Certificate. As used herein, “Available for First Use” shall mean that the System is available for first patient
or clinical use. It is agreed that if the appropriate Provider represents to Lessor that a System has been installed and is
available for first patient or clinical use, such representation shall, as between Lessor and Lessee, constitute a definitive
determination that such System is “Available for First Use.”
5. Payments:
(a) Payment: thirty six (36) equal consecutive monthly payments in the amount of $8,504.97 plus all applicable taxes
due on the first day of each month during the Lease Term and the same day of each month thereafter with a final payment
of all sums due and owing hereunder on the Term Expiration Date.
{b) Changes in Payment: The Payment amount is based on an interest rate equivalent to that of Interest Rate Swaps as
quoted by the Federal Reserve that would have a repayment term equivalent to the Lease Term (or Lessor may use an
interpolated rate if a like-term is not available), as reasonably determined by Lessor (“Swap Rate”). The Payment set
forth above was calculated on November 25, 2015, which yielded a Swap Rate of 1.59% (“Existing Swap Rate”). The
Payment shall be adjusted upward by Lessor to reflect any change (i) in the Swap Rate above and the Swap Rate in effect
on the Commencement Date and (ii) in the Projected Valu
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Citation & reuse
Okaloosa County Board of County Commissioners. “Okaloosa County BOCC — January 19, 2016 — Master Lease Schedule No 1.” January 19, 2016. Master Lease Schedule No 1. Crypt of Echoes evidence ID LED-2026-bd1197bbd34e4a64b9c2433fa59b84d0. http://127.0.0.1:58097/evidence/LED-2026-bd1197bbd34e4a64b9c2433fa59b84d0. Accessed [date].
Catalogue citation: Okaloosa County Board of County Commissioners, Master Lease Schedule No 1, meeting materials for January 19, 2016. https://okaloosacountyfl.iqm2.com/Citizens/FileOpen.aspx?Type=4&ID=10457&MeetingID=1320
Preserved county public-record source. Third-party attachments may retain their original rights.