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Home My WebLink AboutContracts & Agreements_16-1998_CCv0001.pdf a Ford Motor Credit Company The American Road I P.O.Box 1736 D*wbO+n.WwhiPn 48121-1739 The Honorable William Cunningham July 2, 1998 City of Redlands Police Department 35 Cajon Street, Suite 30 Redlands, CA 92373 Subject: Lease-Purchase Agreement g ment Number 39672 Dear Mayor Cunningham: The Lease-Purchase Agreement documents for the equipment being acquired from Robert H. Loud Ford are enclosed. Please review the following documents for accuracy and execute where indicated: • Schedule A-111, Page 1 • Delivery and Acceptance Certificate(s)- Please indicate the date the equipment was accepted by you. • Temporary Insurance Form- Please complete. 8038-G - Please review and execute where indicated. We will forward the Original to the IRS and return a copy with the agreement for you records. Please return all documents with original signatures by July 17, 1998 to Ford Motor Credit Company at the address below. If documents can not be returned by this date, please call 1-800- 241-4199 (ext. 173). Overnight/Express Delivery to: U.S. Regular Mail FMCC Building MD 7500, Commercial Lending, The American Road, Ste 2478 FMCC Building MD 7500 Dearbom, MI 48126 P. O. Box 1739 Dearbom, MI 48121-1739 ATTN: Dawn Mitchell ATTN: Dawn Mitchell Included with the documents should be a check to Ford Motor Credit Company in the amount of$65,016.61 for the first payment. Your account number is 3967203, please refer to this number should you require any assistance. I will have the documents executed by Ford Motor Credit Company and return a copy to you. If you have any questions, please call me at(800) 241-4199. Sincerely, Enclosures Dawn Mitchell Municipal Financing Page 1 SCHEDULE A-111 - EQUIPMENT LEASE-PURCHASE AGREEMENT Lease No. 39672 This Equipment Schedule dated as of 718!1998, Is being executed by Ford Motor Credit Company{"Lessor"), and City of Redlands('Lessee"), as a supplement to, and is hereby attached to and made a part of that certain Equipment Lease- Purchase Agreement dated as of 9120/95 ("Lease"), between Lessor and Lessee. Lessor hereby leases to Lessee under and pursuant to the Lease, and Lessee hereby accepts and leases from Lessor under and pursuant to the Lease,subject to and upon the terms and conditions set forth in the Lease and upon the terms set forth below, and following items of Equipment: QUANTITY J DESCRIPTION(MANUFACTURER, MODEL AND SERIAL NO.) SUPPLIER (8) 1995 Ford Croom Victoria Police Sedans SN#2FAFP71 W1 WX157571, Robert H. Loud 2FAFP71 W3ZX157572, 2FAFP71 W5WX157573, Ford 2FAFP71W7WX157574, 2FAFP71W9WX157575, 2FAFP71WOWX157576, 2FAFP71W2WX157577, 2FAFP71 W4WX157578 Includes State Sales Tax at 7.75% EQUIPMENT LOCATION: City of Redlands Police Department 35 Cajon Street, Suite 30 Redlands, CA 92373 Initial Term: 36 Months Commencement Date: 7/8/1998 Periodic Rent: 2 Consecutive Annual Payments of$65,016.61 each (including interest), followed by one final payment of$65,016.79 due under this Lease-Purchase Agreement. The Periodic Rent Payment also include any applicable sales/use tax due and payable on the Lease Payment Dates, set forth in Schedule A-ill, Page 2. EXECUTED as of the date first herein set forth. LESSEE: City of Redlands LESSOR: Ford Motor Credit Company Police Department By: By: illi m Cunni cm W. Paul Rau Title: Mayor Title: Manager, Municipal Finance ATTEST. OPINION OF COUNSEL orr:e Poyz `ity Clerk The opinions expressed i he Opinion of Counsel dated 9120/95 provided to Lessor shall apply to the Lease as amended and Lessor may rely upon such opinion as if it were addressed and had been delivered to Lessor on the date hereof. Attorney for Lessee Daniel McHugh INVOICE July 2, 1998 LESSEE: City of Redlands Police Department 35 Cajon Street, Suite 30 Redlands, CA 92373 REMIT PAYMENT TO: FORD MOTOR CREDIT COMPANY MUNICIPAL FINANCING P. O. SOX 1739 - MD7500 DEARBORN, MI 48121 PLEASE RETURN A COPY OF THIS INVOICE WITH YOUR PAYMENT ACCOUNT FIRST DESCRIPTION PAYMENT NUMBER PAYMENT AMOUNT DUE DATE 3987203 718198 (8) 1998 Ford Crown Victoria Police $85,016.61 Sedans SN# 2FAFP71W1VvX157571, 2FAFP71 W3ZX157572, 2FAFP71 W5WX157573, 2FAFP71 W7WX157574, 2FAFP71 W9WX157575, 2FAFP71 WOWX157576, 2FAFP71 W2WX157577, 2FAFP71 W4WX157578 Includes State Sales Tax at 7.75% PLEASE REMIT: $65,016.61 If you have any questions regarding this invoice please call Dawn Mitchell (313) 323-0086. Schedule A-III Page 2 Payment Schedule Lease Number: 39672 Lease Lease Payment Payment Lease Interest Principal Concluding Number Date Payment Portion Portion Payment 1 7 1 8 11998 65,016.61 0.00 65,016.61 120,978.43 2 7 1 8 11999 65,016.61 5,988.43 59,028.18 61,950.25 3 7 1 8 12000 65,016.79 3,066.54 61,950.25 1.00 TOTAL 195,050.01 9,054.97 185,995.04 LESSOR: FORD MOTOR CREDIT COMPANY P. O. Box 1739 Dearborn, MI 48121-1739 DELIVERY AND ACCEPTANCE CERTIFICATE The undersigned Lessee hereby acknowledges receipt of the Equipment described below 'Equipment") as fully installed and in good working condition; and Lessee hereby accepts the Equipment after full inspection thereof as satisfactory for all purposes of the Equipment Lease-Purchase Agreement ("Lease*) executed by Lessee and Lessor. LEASE DATE LEASE SCHEDULE A411 DELIVERY PURCHASE PURCHASE NUMBER DATE NUMBER DATE ORDER NO. 9/20/95 39672 7/8/1998 1 EQUIPMENT INFORMATION QUANTITY DESCRIPTION (MANUFACTURER, MODEL AND SERIAL NO.) SUPPLIER (8) 1998 Ford Crown Victoria Police Sedans SN#2FAFP71WIWX157571, Robert H. Loud 2FAFP71W3ZX157572, 2FAFP71W5WX157573, Ford 2FAFP71W7WX157574, 2FAFP71W9WX157575, 2FAFP71WOWX157576, 2FAFP71W2WX157577, 2FAFP71W4WX157578 Includes State Sales Tax at 7.75% LESSEE: City of Redlands BY: 35 Cajon Street, Suite 30 Redlands, CA 92373 {Tale} DATE ACCEPTED: INSURANCE FACT SHEET We require a Certificate of Insurance or Declaration Page shown in the name of the Municipality listed below. If more than one insurance company is used, indicate each&for what type coverage. Per the Agreement,we require Liability& Physical Damage on all vehicles, Liability& Property Damage on all other equipment& FORD MOTOR CREDIT COMPANY named as Loss Payee or Additional Insured. RETURN TO: Ford Motor Credit Company, P.O. Box 1739, Dearborn, MI 48121- 1739 TRANS NO: 39672-03 UP AGREEMENT NO: 39672 MUNI: City of Redlands ADDRESS: 35 Cajon Street, Suite 10 CITY: Redlands, CA 92373 CONTACT: Kim Braun PHONE: ( 909 ) 798-7679 EQUIP DESC: (8) 1998 Ford Crown Victoria Police Sedans SN#2FAFP71 W1 WX1 57571,2FAFP71 W3ZX1 57572, 2FAFP71W5WX157573, 2FAFP71W7WX157574,2FAFP71W9WX157575,2FAFP711tWOWX157576, 2FAFP7lW2WX157577, 2FAFP71W4WX157578 Includes State Sales Tax at 7.75% INSURANCE COMPANY: The Insurance Company of the State of Pennsylvania ADDRESS: 70 Pine Street CITY: New York STATE: NY— ZIP:— 10270 PHONE- ( 909 ) 793-2373 Davis Graeber Ins. Svc. CONTACT PERSON: Ross Jones POLICY NO: 4296-4727 EXPIRATION DATE: 07/01/99 LIABILITY AMT: $10, 000,000 PROPERTY DAMAGE AMT: PHYSICAL DAMAGE AMT: COMPREHENSIVE DEDUCTIBLE: COLLISION DEDUCTIBLE: INSURANCEC ANY: ADDRESS: EC ANY: CITY: STATE: ZIP: PHONE: CONTACT SON:_� POLICY NO: EXPIRATION DATE: LIABILITY AMT: PROP TY DAMAGE AMT: P PHYSICAL DAMAGE AMT: COMPREHENSIVE DEDUCTIBLE: COLLISION DEDUCTIBLE: SELF-INSURED: IF YOU ARE SELF-INSURED FOR ANY COVEiTAGE, PLEASE PROVIDE THE NAME OF YOUR INSURANCE POOL/FUND. NAME OF INSURANCE POOL FUND: City Of Redlands SELF-INSURED FOR: LIAEPLITY- $ 5 0 0, 0 0 0 CONTINUOUS COVERAGi FROM PROPERTY. PHYSICAL:$. TO PLEASE SIGN: ming Mayor ATTEST: MEN 8038-G Information Return for Tax-Exempt Govern i+Pev, EMay 1995) ► Under Internal Revenue Code mental Obligations s soa tme T of,ne Tr. Section 149{e) Fr+�emal'rwcrtue Sin a�c;ry �` SeParate Instructions. �" Note: Ilse Dirt 8038 GC i;!her 5- '?r Re ortin Au#Mori ssue�rzce�$urzGer,�r00,OQQ. x Issuer', Warne � if Amended Return, cheok h Cit: of Redlands ere Or 2 Issuer`s em y cation 3 dumber and S't?a box t m } 95 p!o er rderstifi nurnba aFi F 6000766 • S nOC= e(ivered tC1 Street address) t 35 la'on Street., SRoom/suitel 4 Suite �. ! E ae poll nur`ber or cost office, state, anc >iP code Redlands CA 92373 ( s mate of issue 7 Evame er Issue 8 CUSIP numper type of Issue (check applicable box(es) and enter the issue prices 9 "oucation +attach schedule—sea 1 instructions) Heal" and flosPital lat?ac�`', SCheduie-'e e Instruction 9 is 11 " nstructicns). cans ortation 10 12 P btic safety. `maronment {including sewage bonds) 52 C 14 dousing 15 uttltties _ 14 16 Other. De . . . . . . Describe {see instructions) > 17 l,`"obligations are tax or other revenue anticipation bonds" check box 16 I 18 if ooii attons are in the form of a ,ease or install rrlent sale, check box > Descri tion of Obli at ion- 4fatur(,y date I (bl r (c) (d) +r ter (61 _st rater Issue once Stated redemotion gn ( f9! 19 Final maturity= I once at maturity v( Net interest o ( 7 average maturity raid ( 20 rnilio issue N A %i N A Uses of Proceeds of gond Issue includin • underwriters' discount ears? . °b 21 Proceeds used for accrued interest ) 22 Issue price of entire issue (enter amount from line 20, column (c}) ) 21 23 Proceeds used for bond issuance costs (including underwriters" discount) 23 122 24 Proceeds used for credit enhancement . -- 25 Proceeds allocated to reasonabiy required r6 e ( 24 26 Proceeds used to Currentlys rue or replacement Und 2`S gerund prior issues � ------- 27 Proceeds used to advance refund prior issues 28 28 Total [add lines 23 through 271 . s 27 j 29 Nonrerundin orocee r' ds of the issue (subtract line 28 from line � 28 1 amo Descri tion of Refunded Bonds (Compfete this 2 art onI t for refundrnA} 29 �� -nter f�,� remaining weighted average bonds. i g avera e maturity of the bonds to be currently ,ef E 31 neer tri remaining weighted average m Y " ended 32 9 atunty Of the bonds to be advance r �J�ears tenter -ne last date on which t! ref e'unded > hu ..�tafsl the refunded e refunded fonds Will be called . "years 33 ter � ,, r:.. nded '^olds were issued ► > /A Miscellaneous art , the amount of the state line 3 tr hof Cn€oft a *re he bonds lest �Y.a.t.,o 3tSilSoUCear ted to trte 1sSnt :e dt 341. Gu^C Of r - Ut def SC'CtlGln G�fi6 J}��i(�}{G){Ill)is'Wall SSCfer�+7foeDrich) I 3 U t'r al maturity croc2edn to ?Sitd or" ^e t 1veSteti tt a guaranteed irlves[FT£r t ±' i e iri Oretrac,:sed;rrstr'�tC'jons) :38a[ n�, tv dates r �� guaranteed !nvestrnent contract s: a Proceeds of IS .slue that are t t b I{ ,nis issue i o be used to crake loans to Other governmental units 1 37a l s a loan made From the proceeds of another tax-exempt issue, h issuer I► � eck Dox > r II and enter rt�� 38 if the issuer nal elec€ed to pay a r a ld the date of sPe issue 16-- 39 V name o; rhe if `he i penalty in lieu of arbitrage rebate, check box suer has identified a had e, check box �'" t Under oenaiti + y„ M and t5ei' f es o.perturY,r declare that(ravTt examined this return , . Please are true.correct-and cam e accomoan nedulrs ci statements,and to true des;of my cnow#edge Cit of R ATTE T Sigh i s.utrie Poyzer, City Clerk Herm William E. Cunningham ature f issuer's au zed rear live $ 1998 a or City of Redlands For PaPerwork Reducngn Act htct#Icer, see pa e 1 of the irtst,u nate type or prn,t name and tree