Fort Walton Beach Resolution — 2008-02-Golf Club Equipment-Bank of America — reading text

5  SAMPLE: PLEASE DO NOT EXECUTE DISBURSEMENT REQUEST NO. Schedule No. 008) Re: Master Equipment Lease/Purchase Agreement dated as .of April 3, 2002 by and between . Banc of America Leasing & Capital,"LLC and City of Fort Walton Beach, as Lessee I . . ( the " Lease") In accordance with the terms of the Acquisition Fund Agreement, dated as of January 11, 2008 ( the " Acquisition Fund Agreement") by and among Bane of America Public Capital Corp Lessor"), City of Fort Walto~ Beach (" Lessee") and Bank of America, N. A., ( the " Acquisition Fund Custodian"), ed. hereby "requests the undersigJ? the Acquisition Fund Custodi~n pay the following persons the following amounts from the Acquisition Fund created under the Acquisition Fund Agreement (the" Acquisition Fund") for the following purposes. ' Payee' s Name and Address Invoice Dollar Amount Purpose Number The undersigned hereby certifies as follows: i). An obligation in' the stated amount has been in~urred by Lessee, and the same is a proper charge against the Acquisition Fund for costs relating to the Equipment identified in the Lease, and has not . been paid. Attached hereto is the original invoice with respect to such obligation. ii) undersigned, as Authorized Representative, has no notice of any vendor' s, The mechanic' s or other liens or rights to liens, chattel mortgages, conditional sales contracts or security interest which should be satisfied or discharged before such payment is made. iii) This requisition contains no item representing payment on account, or any retained percentages which Lessee is, at the date hereof, entitled to retain. iv) The Equipment is insured in accordance with the Lease.. v) No Event of Default, and no event which with na~ice or lapse of time, or both, would become an Event of Default, .under the Lease has occurred and is continuing. at the date hereof. 004. 217182. 2 6  f' vi) The disbursement shall occur during the Acquisition Period set forth in the Schedule applicable to such Equipment. vii) N~ materi~l adverse change in Lessee' s or any guarantor' s financial condition shall have occurred since the date of the Lease. Dated: City of Fort Walton Beach as Lessee under the Lease By: Authorized Representative Disbursement of funds from the Acquisition Fund in.accordance with the foregoing Disbursement Request hereby is authorized Bane of America Public Capital Corp as Lessor under the -Lease By: Title: 7 004. 217182. 2  J Schedule of Property No. 008 . Re: Master Equipment Lease/ Purchase Agreement, dated as of April 3, 2002 ( the " Master Equipment Lease "), between Bane of America Leasing & Capital, LLC, and City of Fort Walton Beach, as Les'see 1. Defined Terms; Lease.; Bane of America Public Capital Corp as Lessor. Unless otherwise defined herein, all tenns used herein have the meanings ascribed to them in the above- referenced Master Equipment Lease. This Schedule constitutes a " Lease" for all purposes under the Master Equipment Lease, and is by and between Lessee aJ;ld Bane of America Public Capital Corp, a. Kansas corporation ( ULessor")~ an affiliate of Banc of America Leasing & Capital, LLC ( UBALC'). For all:.purposes under or with respect to this Schedule and any documents or instruments executed and delivered in connection herewith, each reference to " Lessor" contained herein and in the Master Equipment Lease s~ all be deemed to be a reference to Bane of America Public Capital Corp, as Lessor hereunder. Lessee acknowledges and agrees that the occurrence of an Event of Default under any Lease with Lessor or BALC shall constitute an Event of Default under all Leases subject to the Master Equipment Lease. 2. Equipment. The following items of Equipment are hereby included under this Schedule of the Master. Equipment Lease. Description Location GROUNDS MAINTENANCE EQUIPMENT INCLUDING MOWERS, 1955 Lewis Turner Blvd. CANOPIES AND TRACTOR TO BE FURTHER DESCRffiED UPON Fort Walton Beach, FL 32547 DISBURSEMENT( S) 3. Payment Schedule. Rental Payment~. The Rental Payments shall.be in such amounts and payable on such dates as. set forth in the Rental Payment Schedule attached to this Sc~ edule as Exhibit A. Rental Payments shall commence on the date on which the Equipment listed in this Schedule is accepted by Lessee, as indicated in an Acceptance Certificate substantially in the form of Exhibit B to the Master Equipment Lease or the date on which sufficient moneys to purchase the Equipment are deposited for that purpose with an Acquisition Fund Custodian, whichever is earlier. Purchase Price Schedule. The Purchase Price on each Rental Payment date f~r the Equipment listed in this Schedule shall be the amount set forth for such Rental Payment date in the Purchase Price" column of the Rental Payment Schedule attac~ ed to this Schedule. The PUrchase Price is . in addition to all Rental Payments then due. under this Schedule ( including the Rental Payment shown on the sam~ line in the Rental Payment Schedule). 4. Representations~ Warranties and Covenants. Lessee h~reby represents, warrants and covenants as follows:' a) That'its representati~ns, warranties and covenants set forth in the Master Equipment Lease are true and correct as though m.ad~ on the date of commencement of Rental Payments on this Schedule. 004.237866. 4 A~l  Les~ee .further represents and warrants that no material adverse change in' Lessee' s financial condition has 1 occufred' since the date of the Master Equipment Lease. 5. The Lease. The terms and provisions of the Master Equipment Lease ( other than to' the extent that they relate solely to other Schedules or Equipment listed on other Schedules) are hereby incorporated into this Sc~ edule by reference and made a part The maximum Lease Term, subject to hereof.. monthly appropriat~on, is sixty ( 60) months. 6. .' Acquisition Amount. The Acquisition Amount for the Equipment described in this Schedule, to be deposited in the Acquisition Fund is $ 248, 589. 29. 7. Acquisition Period. The Acquisition Period applicable to this Schedule s.hall end at the conclusion of the 12th month following the date hereof. D'ated: January 11, 2008. Lessor: Lessee: Bane of America Public Capital Corp City of Fort Walton Beach 2059 Northlake Parkway, 4th Floor . 107 Miracle Strip Parkway . Tucker, GA 30084 Fort Walton Beach, FL 32548 Attention: Contract Administration Attention: City Clerk By: f~}~ By: ~,&~ Laura Pntchen Title: Title: (~ mn"~ AssIstant \ hcef-Jr~$ h~~/'~' Seal) Atte~t: By: t Title: 004.237866. 4 A-2  Exhibit A Rental Payment Schedule Rental Payment Rental Payment Interest Portion Principal Date Amount 3. 53% Portion Purchase Price* 01/ 11/ 08 0. 00 0. 00 0. 00 248, 589. 29 01/ 15/ 08 4, 609. 84 97. 50 4, 512. 34 244, 076. 95 02/ 15/ 08 4, 512. 34 717. 99 3, 794. 35 240,282. 60 03/ 15/ 08 4, 512. 34 706. 83 3, 805. 51 236, 477. 09 04/ 15/ 08 4, 512. 34 695. 63 3, 816. 70 232, 660. 39 05/ 15/ 08 4, 512. 34 684. 41 3, 827. 93 228, 832.46 06/ 15/ 08 4, 512. 34 673. 15 3, 839. 19 224, 993. 26 07/ 15/ 08 4, 512. 34 661. 85 3, 850. 49 221, 142. 78 08/ 15/ 08 4, 512. 34 650. 52 3, 861. 81 217, 280. 97 09/ 15/ 08 4, 512. 34 639. 16 3, 873. 17 213, 407. 79 10/ 15/ 08 4, 512. 34 627. 77 3, 884. 57 209, 523. 23 11/ 15/ 08 4, 512. 34 616. 34 3, 895. 99 205, 627. 23 12/ 15/ 08 4, 512. 34 604. 88 3, 907. 45 201, 719. 78 01/ 15/ 09 4, 512. 34 593. 39 3, 918. 95 197, 800. 83 02/ 15/ 09 4, 512. 34 581. 86 3, 930.48 . 193, 870. 35 03/ 15/ 09 4, 512. 34 570. 30 3, 942. 04 . 189, 928. 31