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02-07-1986 3Ford Buses Toyota Pkup LeaseC N B - ; COLORADO NATIONAL LEASING, INC. January 7, 1986 Bill James Town of Avon P.O. Box 975 Avon, CO 81620 Dear Mr. James: Enclosed please find a Bill of Sale for the vehicles on Lease -#88202 and Lease #88203. On Lease #88202 is a 1983 Toyota Pickup Vin # JT4RN48SOD0060744 and on Lease #88203 is three buses; 1983 Ford Bus Vin# 1FDKE30L9DHA40585, 1983 Ford Bus Vin #1FDKE30L4DHA3894O and 1983 Ford Bus Vin# 1FDKE30L6DHA40589. These Colorado titles have assigned to the Town of Avon. It has been a pleasure doing business with you. If we can be of service in the future, give us a call. Sincerely, zv Arlene York COLORADO NATIONAL LEASING, INC. encl. Building 51, Suite 150 14142 Denver West Parkway Golden, Colorado 80401 (303) 278 -7750 BILL OF SALE KNOW ALL MEN BY THESE PRESENTS, that the undersigned for valuable consideration does hereby grant, sell, transfer, and deliver unto Town of Avon (Purchaser) (Grantee) the following described equipment: 1983 Ford Bus #1FDKE30L9DHA40585, 1983 Ford Bus #1FDKE30L4DHA38940 1983 Ford Bus #1FDKE30L6DHA40589 Lease # 88203 To have and to hold all and singular the said goods and chattels to said Grantee, his - successors and assigns. The undersigned cove- nants with said Grantee that undersigned is the lawful owner of said chattels; that they-are free from all encumbrances; that undersigned has a good right to sell the same; that undersigned will warrant and defend same against the lawful claims and demands of all persons._ - Except for the foregoing warranties_ =and representations -, _ said goods -and _chattels - ==AS- IS.• Grantee takes WITNESS, the hand and seal-of the seller, _this - -7 7-. day of State ofY���Lz -li ) COLORADO NATIONAL LEASING, INC. as. County of ) BY,.._�-.;� Subscribed and s wqrn to be - re see this da of , 19',, Notary//Public my Commission expires Title. Bldg. 51, Suite 150 Address 14142 Denver West Pkwy. St. - P.O. BOX - RR# Golden City Colorado 80401 State Sip Code 1 (47 BILL OF SALE KNOW ALL MEN BY THESE PRESENTS, that the undersigned for valuable consideration does hereby grant, sell, transfer, and deliver unto Town of Avon (Purchaser) (Grantee) the following described equipment: 1983 Toyota Pickup ##JT4RN48SOD0060744 Lease ##88202 To have and to hold all and singular the said goods and chattels to said Grantee, his - successors and assigns. The undersigned cove- nants with said Grantee that undersigned is the lawful owner of said chattels; that they -are free from all encumbrances; that undersigned has a good right to sell the same; that undersigned will warrant and defend same against the lawful claims and demands of all persons._ - Except for the foregoing warranties: and representations -; G_rantee takes said goods --and chattels---"AS IS.• _ _ - = WITNESS; the hand and seal- of the seller, _this -'` day of State ofLaz a ,j ) COLORADO NATIONAL LEASING, INC. ) as. County of ; ) By r Subscribed and swot to be re me this�da of , 197 rotary �bblic My Commission expires /7-71' �� /��hj Title � �,�.��.� rk't Bldg. 51, Suite 150 Address_ 14142 Denver West Pkwy. R. - P.O.Box - RR# Golden City Colorado 80401 State Sip Code NCNB INC ; 1 COLORADO NATIONAL LEASING, INC. BUILDING 51, SUITE 150 • 14142 DENVER WEST PARKWAY • GOLDEN, CO 80401 • (303) 278 -7750 December 21, 1982 Mr. Bill James Town of Avon P. 0. Box D Avon, Colorado 81620 Dear Bill: In reference to our Equipment Lease Agreement #88203, Colorado National Leasing, Inc. agrees to allow the Town of Avon to locate or store the equipment at Beaver Creek, Colorado and use the equipment for any town function or operation within the terms and conditions of the Lease Agreement. Sincerely, Ronald J. Z Vice President RJZ /chl PETER COSGRIFF JOHN W. DUNN ROBERT H. S. FRENCH STEPHEN C. WEST TIMOTHY H. BERRY DAVID H. MILLER ARTHUR A.ASPLANALP, JR. JOHN B. WOOD LAW OFFICES COSGRIFF, DUNN & FRENCH, P. C. P. O. BOX 340 VAIL, COLORADO 81658 (303) 476 -7552 December 28, 1982 Colorado National Leasing, Inc. 14142 Denver West Parkway Bldg. 51, Suite 150 Golden, Colorado 80401 Re: Equipment Lease Agreement Gentlemen: LEADVILLE OFFICE: P.O. BOX II LEADVILLE, COLORADO 80461 (303) 486 -IBBS BRECKENRIDGE OFFICE. P. O. BOX 588 BRECKENRIDGE, COLORADO 80424 (303) 453 -2901 We have acted as counsel to The Town of Avon in connection with the execution and delivery of an Equipment Lease Agreement, including the Equipment Lease Schedules, Exhibits and Certificates attached thereto dated December 28, 1982, between Colorado National Leasing, Inc., a Colorado corporation, and The Town of Avon, pursuant to which the Town of Avon has agreed to lease the equipment referred to in the Equipment Lease Agreement on the terms therein contained. in rendering this opinion, we have examined copies of the Equipment Lease Agreement, and the Equipment Lease Schedules as well as such other documents, records, certifi- cates and legal matters as we have deemed relevant and necessary as a basis for our opinion hereinafter set forth. Based on the foregoing, it is our opinion that: 1. The Town of Avon has all requisite power and authority to lease the property which is the subject of the Equipment Lease Agreement and has all requisite power and authority to enter into such Equipment Lease Agreement, each Equipment Lease Schedule and the Certificate of Acceptance attached thereto. 2. The Equipment Lease Agreement and each Equip- ment Lease Schedule has been duly authorized, executed and delivered by the Town of Avon and constitute the legal, valid and binding obligations of the Town of Avon, enforceable against the Town of Avon in accordance with their respective terms. Colorado itional Leasing, Inc. December 28, 1982 3. The execution, delivery and performance by the Town of Avon of the Equipment Lease Agreement, each Equipment Lease Schedule and the Certificate of Acceptance will not violate or contravene any provision of the existing Colorado or federal law or any order of any court or govern- mental agency having jurisdiction, the Town's Charter, or any mortgage, indenture, security agreement or other instru- ment to which the Town of Avon is a party or by which it, or any of its property is bound. Yours very truly, COSGRIFF, DUNN & FRENCH, P. C. By John W. Dunn JWD: kem Town of Avon December 9, 1982 TO: Richard D. Blodgett, Town Manager FROM: William D. James, Finance Direc SUBJECT: ORDINANCE NO. #82 -28, AUTHORIZING EXECUTION OF CERTAIN EQUIPMENT LEASE AGREEMENTS At the November 23, 1982 Council Meeting, Ordinance No. #82 -28 was approved subject to clarification of some items within the Lease Agreement. Items to be clarified were: 1) Page 4, item 18 Old Language: 18. INTEREST. Should Lessee fail to pay any part of the rent herein reserved or any other sum required by Lessee to be paid to Lessor, within 10 days after the due date thereof, Lessee shall pay to the Lessor interest on such delinquent payment from the due date until paid at the rate of 18 %. New Language: Added "per annum" after 18 %. 2) Page 4, item 19 Old Language: 19. OPTION. Provided Lessee is not in default in the performance of its obligations hereunder, Lessee shall have the option, at any time after to purchase the Equipment for an amount equal to the Agreed Option Price thereof set forth in Exhibit B at the date of the last full rental payment, plus interest on such Agreed Option Price at the rate set forth in Exhibit B from the date of the last full rental payment until the date of payment for the Equipment. Such option to purchase the Equipment shall be exercised by the payment of the Agreed Option Price plus interest as herein provided to Lessor at Lessor's office in Golden, Colorado. If Lessee exercises the option to purchase the Equip- ment, title thereto shall thereupon become vested in Lessee and Lessor will thereupon execute and deliver to Lessee a bill of sale transferring such Equipment to Lessee "AS -IS- WHERE -IS ", WITHOUT WARRANT'?, EXPRESS OR IMPLIED, WITH RESPECT TO ANY Richard D. Blodgett Ordinance No. #82 -28 December 9, 1982 Page Two MATTER WHATSOEVER. New Language: Added "February 28, 1983" in the blank space. 3) Equipment Lease Schedule, Section D, Location of Equipment: D. LOCATION: The above described equipment shall be located at Town of Avon, Avon, Colorado and shall not be removed therefrom without the prior written consent of Lessor. In discussing this section with Colorado National Leasing, the intent is only to identify the base of operation for equipment. I informed them that the buses would have a base of operation in Eagle -Vail which they have no problem with. Therefore, I see no need to change this section. Recommendation: WDJ:lp Approval of Ordinance No. #82 -28 Authorizing Execution of Certain Equipment Lease Agreements with the following changes to be incorporated into the Agreements: 1) Page 4, item 18. Add "per annum" after 189. 2) Page 4, item 19. Add "February 28, 1983" in the blank space. COLORADO NATIONAL LEASING, INC. BUILDING 51, SUITE 150 • 14142 DENVER WEST PARKWAY • GOLDEN, CO 80401 • (303) 278 -7750 January 10, 1983 Mr. Bill James Town of Avon P. 0. Box D Avon, Colorado 81620 Dear Mr. James: Enclosed are your copies of the following leases: Lease #88201 for one new P2327 Ojhkosh (snowplow) Lease #88202 for one new 1983 Toyota 4 W.D. Pickup Lease #88203 for three 1983 ElDorado Falcon Buses We appreciate your business and if you have any questions, please do not hesitate to call. Sincerely, Ronald J. Zimmerman Vice President RJZ /chl Enclosures p am TOWTJ OF AVON ORDINANCE No. ;` 312 - 3 SERIES OF 1982 AN ORDINANCE AUTHORIZING EXECUTION OF CERTAIN EQUIPMENT LEASE AGREEMENTS BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO: Section 1. Those certain Equipment Lease Agreements, together with their Exhibits A, B, and C, copies of which agreements are attached hereto as Addenda I, II and III, and the terms of each are hereby approved, and the acquisition of the municipal properties described therein are hereby authorized. Section 2. The Mayor and Town Clerk are hereby authorized and directed to execute each of said Equipment Lease Agreements. INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED POSTED, THIS 23._d day of , 1982 and a public hearing on this Ordinance shall be held at the regular meeting of the Town Council of the Town of Avon, Colorado, on the 21st day of Dece Abe:_ 1982 at 12:00 noonin the Municipal Building of the Town of Avon, Cclorado. Allan R. Nottingham j ayor �,TTE T: \1 ,,1Y � c -� ✓� �` l� mac. Patricia J.(/Doyle, T7 n Clerk INTRODUCED, PASSED ON SECOND READING, APPROVED AND ORDERED POSTED THIS 21st DAY OF Dece� -ibex , 1982. Allan R. N ttingh , Mayor i Patricia J. Q yle, Town Clerk STATE OF COLORADO ) COUNTY OF EAGLE ) SS TOWN OF AVON ) NOTICE IS HEREBY GIVEN OF A PUBLIC HEARING BEFORE THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO, AT 12 :00 NOON ON THE 21ST DAY OF DECEMBER, 1982 AT THE MUNICIPAL BUILDING, 400 BENCHMARK ROAD, AVON, COLORADO FOR THE PURPOSE OF CONSIDERING THE ADOPTION OF ORDINANCE N0. #82 -28, SERIES OF 1982: AN ORDINANCE AUTHORIZING EXECUTION OF CERTAIN EQUIPMENT LEASE AGREEMENTS A copy of said Ordinance is attached hereto and is also on file at the office of the Town Clerk and may be inspected during regular business hours. Following this hearing, the Council may consider final passage of the Ordinance. This notice given and passed by order of the Town Council of the Town of Avon, Colorado. Dated this 14th day of December, 1982. TOWN OF AVON, COLORADO Patricia J. o le, Town erk POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE TOWN OF AVON ON THE 14TH OF DECEMBER, 1982: THE MAIN ENTRANCE OF THE POST OFFICE, THE MAIN ENTRANCE TO CITY MARKET, THE PESTER GAS STATION; AND THE MAIN LOBBY OF THE MUNICIPAL BUILDING M1 ADDENDUM III EQUIPNIE'HT LEASE AGRB'1,,v11-,'NT The Lease is made this _�_� day o1 - 19_1_�-between Colorado National Leasing, Inc., a Colorado corporation ( "i essor ") , and the Town of Avon ( "Lessee "). In consideration of the mutual covenants and promises herein set forth, the parties agree as follows: 1. LEASE. Lessor hereby leases to Lessee, and Lessee ti,E2rehy leases and hires from Lessor, the property, machinery and equipment ( "Equipment ") described in the Equipment i)escription (Exhibit A attached hereto and made a part 2. 'TERM. This Lease shall commence on the date hereof and unless :sooner terminated as provided herein, shall expire _ _ year(s) from the date of first delivery of any iteirl of the Equipment. 3. RI'gl'. Rent for the Equipment small be in the amount set forth in the Equipment Lease Schedule (Exhibit B attached hereto and made a part hereof). Lessee shall pay Lessor such rent in the amounts and at the times set forth on Exhibit B at the office of Lessor in Golden, Colorado, or to such other person and /or at such other place as Lessor nay from time to time uesignate in writing. 4. USE. Lessee shall use the Equipment in a careful and proper manner and shall comply with all applicable governmental laws, ordinances and regulations in any way relating to the possession, use or maintenance of the Equipment. It at any time during the term hereof Lessor supplies Lessee with labels, plates or other markings, stating that the .l quipment is owned by Lessor, Lessee small affix the same to a prominent place on the Equipment. 5. LESSEE'S INSPECTION; WARRANTY DISCLAIMER. (a) Lessee shall inspect the Equipment within rorty -eight (48) hours after receipt thereof. Unless Lessee within such period of time gives written notice to Lessor, specifying any defect in or other proper objection to the J.;quipment, Lessee agrees that it shall be conclusively presumed, as between Lessor and Lessee, that Lessee has Tully inspected and acknowledged that the Equipment is in good condition and repair, and that Lessee is satisfied with and has accepted the Equipment in such good condition and repair. At or prior to expiration of such inspection period, Lessee shall execute and deliver to Lessor the Certificate of Acceptance. Exhibit C attached hereto and made a part hereof). (b) Lessor hereby assigns to :Lessee for and during the term of this Lease all manufacturer's warranties and guarantees, express or implied, with respect to the Equipment, to the extent such warranties and guarantees are assignable. Lessee acknowledges that it selected each item of Equipment based on its own analysis and investigation from vendors chosen by Lessee and further acknowledges that Lessor made no representations or c, ,7arranties in connection with the Equipment or vendors. LESSOR MAKES NO WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO THE EQUIPMENT AND EXPRESSLY DISCLAI�AS ANY WARRANTY REGARDING THE mERCHANTABILI`1`Y OF THE EQUIPMENT, .ITS FITNESS FOR A PAR'T'ICULAR PURPOSE, ITS DESIGN, CONDITION OR WORKMANSHIP AND THE ENFORCL;ABILITY OF ANY WARRANTY OR GUARANTEE OF THE MANUFAC'T'URER OE' THE EQUIPMENT. -1- I1► 6. LE,SS01-1, L LCI1 LON. Lessor shal_.t at any and all cimF_s during bL1:;1r1eS3 hours have the right to enter into and upon tine pr,�rni t2s :niece tine Equipment may be located for the purpose of in_;,pucting the same or observing its use. 7. ALTEtzA'PIOL�-S. Without the prior written consent of Lessor, Lessee shall riot make any alterations, additions or improvements to the Equipment. 8. REPAIRS. Lessee, at its own cost and expense, shall keep the Equipment in good repair and condition and snail bear all expenses of the maintenance and operation of t t I ie Equipment. 9. INSURANCE; LOSS AND DAMAGE; AGREED OPTION PRICE. Lessee shall keep the Equipment insured against all risks of ions or damage by fire and such other risks as are covered by endorsement commonly known as supplemental or extended coverage for the greater of the fair market value thereof_ or the "Agreed Option Price" set forth in Exhibit B attached hereto with respect to the Equipment. Lessee shall_ also carry public liability and property damage insurance covering the Equipment in amounts not less than $200,000 in respect of bodily injury or death to any person, not less than $500,000 in respect of any one accident, and not less than $100,000 in respect of property damage. All such li.,= lb:ility insut--anc e shall insure both Lr�ssor and Lessee and ilt such property damage insurance shall name Lessor as lost; payee as its interest may appear. Lessee may effect such coverayes under its blanket policies. No loss or damage to the Equipment or any part thereof shall impair any obligation of thte Lessee under this Lease which shall continue in full force and effect. In the event of loss or damage of any kind whatever to any item of Equipment, the proceeds of such insurance shall be applied to any item of Equipment: (a) To place the same in good repair, condition and working order, or replace the same with like Equipment in good repair, condition and working order; or (b) If, in the reasonable judgment of Lessor, the Equipment is determined. to be lost, stolen, destroyed or uamaged beyond repair, Lessee shall pay Lessor therefor in cash, to the extent the insurance.proceeds paid to Lessor may be insufficient, the Agreed Option Price set forth in Exhibit B determined as of the date of the last full rental payment made by Lessee, plus interest on such Agreed Option Price at the rate set forth in Exhibit B from the date of the last full rental payment until the date of payment for the Equipment. Upon such payment this Lease shall terminate with respect to the Equipment so paid for and Lessor will thereupon execute and deliver to Lessee a bill of sale transferring such Equipment to Lessee "AS -IS- WHERE -IS," WITHOUT WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO ANY MATTER WHATSOEVER. 1_0. SURRENDER. Except as provided in paragraph 20 hereof, upon the expiration or earlier termination of this Lease, Lessee shall (unless Lessee has purchased the Equipment pursuant to paragraphs 9 or 19 hereof) return the same to Lessor in good repair, condition and working order, ordinary wear and tear resulting from proper use thereof excepted, by delivering, at Lessee's sole cost and expense, possession of the Equipment to Lessor at such place as Lessor may designate. 11. TAXES AND LIENS. (a) Lessee agrees to pay and to indemnify and hold -2- .Lessor haCml':;: rrOlil a1L license, salC2s, use?, pet "sonaL property or oLhor taxes together with any penal. ties, fines or interest thf.�reon i.mpose(i or levied with respect to the Equipment or the ownership, delivery, lease, possession, use, operation, sale or the disposition thereof, or upon the rentals or earninys arising therefrom. (b) Lessee shall not directly or indirectly create, incur, assume or suffer to exist any security interest, .lien or encumbrance on or with respect to any item of Equipment or any interest therein- Lessee shall promptly, at its expense, take such action as may be necessary to discharge any such security interest, lien or encumbrance as and when the same shall arise. 12. LESSOR'S PAYMENT. In case of the failure of the Lessee to procure or maintain insurance on the Equipment, pay taxes on or with respect to the Equipment or maintain the Equipment free and clear of any security interests, liens and encumbrances, as herein specified, Lessor shall have the right, but not be obligated, to effect such insurance, to pay such taxes and discharge such security interest, liens and encumbrances and the cost thereof shall be r�_ payable to Lessor with the next installment of rent. 13. DEFAULT. If the Lessee shall fail to pay the rent dui, and payable under Exhibit B attched hereto within ten (10) days after the same is due and payable, or if the l.,e�sec shall iaiL to observe, keep or perform any other provision of this Lease for a period of ten (10) days after receipt of written notice thereof, Lessor shall have the right to exercise any one or more of the following remedies: (a) To terminate this Lease and to sue for and recover all rents and other payments then accrued and unpaid hereunder and all .rents and other payments which will accrue during the then current fiscal year of Lessee. (b) To retain all rentals and to take possession of any or all items or Equipment, without further demand or notice and without any court order or other process of law, and either to remove the same or to lease the same to others. 14. TERMINATION FOR NON - APPROPRIATION. Notwithstanding anything herein to the contrary, if .Lessee does not appropriate funds for any fiscal year of Lessee during the term hereof sufficient to pay the amounts due hereunder in such fiscal year and Lessee has exhausted all funds legally available for payments due under this Lease, Lessee :nay, by written notice given to Lessor no later -than ten (10) days after adoption of the budget for such fiscal year, thereupon terminate this Lease. Upon such termination, Lessee shall return the Equipment to Lessor in accordance with paragraph 10 hereof and pay all rents and other payments due to Lessor for periods prior to the date the Equipment is so returned to Lessor. 15. ASSIGNMENT. Without the prior written consent of Lessor, Lessee shall neither assign, transfer, pledge or hypothecate this Lease, the Equipment or any part thereof, or any interest therein, nor sublet any item of Equipment. It is understood that Lessor contemplates assigning this Lease or interests in the Equipment and that Lessor's assignee may also assign the same. All rights of Lessor hereunder may be assigned, transferred, or otherwise disposed of, either in whole or in part, without notice to Lessee; provided, however that no assignment of this Lease or any interest therein shall be made except subject to the rights granted to the Lessee by virtue of this Lease; and provided further that no assignee of Lessor shall be -3- obligated to perform any duty, coverlarit or condition required to be performed by Lessor under the terms of this Lease. 16. PERSUNAI, PROPERTY. The Equipment is, and shall at all times be and remain, personal property notwithstanding that the Equipment may be affixed or attached to, or imbedded in, or permanently resting upon, real property or any building thereon, or attached in any manner to what is permanent as by means of cement, plaster, nails, bolts, screws or otherwise. 17. INDEMNITY; LIMITS OF LIABILITY. Lessee hereby assumes liability for and agrees to indemnify and hold Lessor harmless from and against any and all debts, liabilities, obligations, claims and expenses, including court costs and attorney's fees, incurred by or asserted against Lessor in connection with, arising out of or incident to the ownership, delivery, lease, possession, use, operation, condition, sale or other disposition of any item of Equipment. Lessor is not responsible for any repairs or service to the Equipment or any defects therein. Lessor shall not be liable for any consequential, incidental or special damages of any character as a result of or arising out of the lease of the Equipment, or any item thereof, including loss of profits, property damage or lost production, wh(�Lhor suffered by i_,essee or any other_ person. 18. INT'ERES'T. Should Lessee fail to pay any part of the rent herein reserved or any other sum required by :Lessee to be paid to Lessor, within 10 days after the due date Lher.eof, Lessee shall pay to the Lessor interest on such uelinquen't payment from the due date until paid at the .rate of 1$ per':', per annum. 19. OP'T'ION. Provided Lessee is riot in default in the performance of its obligations hereunder, Lessee shall have the option, at any time after February 28, 1983 to purchase the Equipment for an amount equal to the Agreed option Price thereof set forth in Exhibit B at the date of the last full rental payment, plus interest on such Agreed option .Price at the rate set forth in Exhibit B from the date of the last full rental payment until the date of payment for the Equipment. Such option to purchase the Equipment shall be exercised by the payment of the Agreed u ption Price plus interest as herein provided to Lessor at Lessor's office in Golden, Colorado. If Lessee exercises the option to purchase the Equipment, title thereto shall thereupon become vested in Lessee and Lessor will thereupon (axe cute and deliver to Lessee a bill of sale transferring such Equipment to Lessee "AS -IS- WHERE -IS ", WITHOUT WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO ANY MATTER WHATSOEVER. 20. EXPIRATION. If Lessee shall comply with all provisions of this Lease on its part to be kept and performed, then upon the expiration of this Lease, all right, title and interest of Lessor in the Equipment subject to this Lease small vest in and become the property of Lessee, and Lessor sale transferring such Equipment to :Lessee, "AS-IS-WHERE-IS", WITHOUTT WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO ANY MATTER WHATSOEVER. 21. TAX EXE_IPTION. The "Rent ", "Interest ", "Agreed Option Price" and other computations set forth in this Lease and exhibits attached hereto have been fixed and computed upon the assumption that the amount designated as "Interest" will be exempt trom federal income taxation and (if so noted on Exhibit B) state income taxation in the hands of the Lessor and its assignees. If it is determined that such -4- ANIL "interest" payments are not so exempt, then the items of "Rent ", "Interest ", "i°yreed Option Price" and related computations payable by the Lessee to Lessor hereunder shall be adjusted so as to provide Lessor with the amount of such items as shall equal, on an after taxi basis, the amount thereof set .forth in this Lease and Exhibits attached hereto. The method and timing of the payment of such adjustment shall be as mutually agreed upon promptly following notice to Lessee of the need .tor such adjustment. 22. FINANCIAL S'T'A'T'EMEN'T'S. Lessee shall. furnish to Lessor, within sixty (60) days after the end of each fiscal quarter of Lessee, financial statements of Lessee which shall include a balance sheet and statement of revenue and expense of Lessee for the quarter and the year to date and such other information and reports as Lessor shall reasonably request. All such financial statements shall be certified to be true and correct by the appropriate officer of Lessee. 23. CLAIMS. Lessor hereby appoints and constitutes Lessee as its agent and attorney -in -fact during the term of this Lease to assert and enforce, at the sole cost and expense of the Lessee, whatever claims and rights the Lessor may have as owner of the Equipment against any vendors, manufacturers, suppliers or contractors in respect thereof. 24. NuN-01AIV1,1R. No waiver of any of the Lessee's obligations under this Lease shall be deemed to take place unless such waiver has been made in writing and signed by the Lessor. Failure to exercise any remedy which Lessor may have under this Lease or any other acquiescence by the Lessor in any default by the Lessee shall not constitute a waiver of any obligation of Lessee hereunder, including the obligation as to which Lessee is in default. 25. CUNCURREN'T' REf4EDIES. No right or remedy conferred upon or -reserved to the Lessor in this 'Lease is exclusive of any other right or remedy provided or permitted herein by law or equity; but each shall be cumulative of any other_ right'or remedy given hereunder, or now or hereafter existing at law or in equity or by statute or otherwise, and may be enforced concurrently therewith, or from time to time. 26. MODIFICATION. This Lease constitutes the entire agreement between Lessor and Lessee and shall not be amended, altered or modified except in a writing signed by the parties hereto. 27. NOTICES. All notices required or permitted hereunder shall be sufficient if delivered personally or mailed to the parties at the address hereafter set forth or at such other address as either party may designate in writing from time to time. Any such notice shall be effective 48 hours after it has been deposited in the United states mail, duly addressed and with postage prepaid. 28. GOVERNING LAW. This Lease and other instruments or documents executed by the parties hereto, and the rights and duties of the parties hereto, shall be construed and enforced in accordance with the laws of the State of Colorado. 29. TIME. Time is of the essence of this Lease and each and all of its provisions. 30. SEVERABILITY. If any provision in this Lease or the application of such provision to any person or -5- AML IN WITNESS WHEREOP, the parties hereto have executed this Lease the day and year first above written. LESSOR: COLORADO NATIONAL LEASING, INC. By /VL9--� Bldg. 51, Suite 150 14142 Denver West Pkwy. Golden, CO 80401 LESSER: B y ATTACHMENTS: Resolution No. �,1,?�' of the E 7 O0 OF '(Equipment Description (Exhibit A) yE�quipment Lease Schedule (Exhibit B) jCertificate of Acceptance (Exhibit C) Opinion of Counsel A" CERTIFICA'T'E OF ACCEPTANCE The undersigned hereby certifies that it has received, inspected, approved and hereby accepts delivery of the following equipment upon the terms and conditions set forth herein and in that Equipment Lease Agreement dated 712FI(YL between the undersigned and Colorado National Leasing, Inc., a Colorado corporation: 1. Description of Equipment 3 - 1983 E1Dorado Falcon Buses 2. Cost. The cost of the equipment is $ 89,325 The undersigned further certified that the foregoing equipment is in good order and condition, and con- forms to the specifications applicable thereto. The execution of this Certificate will in no way relieve or decrease the responsibility of the manufacturer of the equipment for any warranties it has made with respect to the same. The undersigned hereby requests Colorado National Leasing, Inc. to process.,payment in the amount of $ 89,325 to the vendor. 7� Dated: TOWN OF AVON By T Lessee r-N, EQUIPMENT LEASE SCFIEDULL A. EQUIPMENT LEASED: 3 - ElDorado Falcon Buses B. TERM: Unless sooner terminated as set forth in the Lease, the term of this Lease respecting each item of equipment listed on this schedule on shall commence on /1 3 and shall expire on C. RENT: As rent for said equipment, Lessee shall pay Lessor the sum of $ 105{378.49 , payable in installments as follows: 36 monthly installments of $2,927.18 commencing on / 8 which said installments of rental include interest at a rate of 11,75 per annum on the Agreed Option Price. D. LOCATION: The above described equipment shall be located at Town of Avon, Avon, Colorado and shall not be removed therefrom without the prior written consent of Lessor. /Ar Z� APPROVED AND AGREED TO THIS J�DAY OF,7jCCc�Z 1 as a schedule to that certain Lease dated the - y o f " ,, e�� _19�� COLORA 0 7 A LEASING, INC. By '1'I LESSOR TOWN OF AVOI1l B y� LESSEE T SAMPLE OPINION OF COUM►1?L Colorado National Leasing, Inc. 14142 Denver West Parkway Bldg. 51, Suite 150 Golden, Colorado 80401 Re: Equipment Lease Agreement Gentlemen: We have acted as counsel to in connection with the execution and delivery of an Equipment Lease Agreement, including the Equipment Lease Schedules, Exhibits and Certificates attached thereto, dated , 1.91'8 , between Colorado National Leasing, Inc., a Colorado—cor- poration, and pursuant to which has agreed to lease the equipment referred to in the Equipment Lease Agreement on the terms therein contained. In rendering this opinion, we have examined copies of the Equipment Lease- Agreement, and the Equipment Lease Schedules as well as such other documents, records, certificates and legal matters as we have deemed relevant and necessary as a basis for our opinion hereinafter set forth. Based on the foregoing, it is our opinion that: 1• has all requisite power and authority to lease the property which is the subject of the uq a it pmen t Lease Agreement and has all requisite power and authority to enter into such Equipment Lease Agreement, each Equipment Lease Schedule and the Certificate of Acceptance attached thereto. 2. The Equipment Lease Agreement and each Equipment Lease Schedule has been duly authorized, executed and delivered by and constitute the legal, valid and binding obligations of , enforceable against in accordance with their respective terms. 3. The execution, delivery and performance by of the Equipment Lease Agreement, each Equipment Lease Schedule and the Certificate of Acceptance will not violate or contravene any provision of the existing Colorado or federal. law or any order of any court or governmental agency having jurisdiction, the Charter, or any mortgage, indenture, security agreement or other instrument to which perty, is bound. is a party or by which it, or any of its pro- Very truly yours, LFAFF P PPP0o FYPTPTT P. F OUTPVFHT LEASE SCHEME PAY"FNT PENT DESTGNATFD RFDHCTTOV OF PALAVCF nF ACREM, NO. ------- PAYMFMT ------- TNTFREFT ---------- PRTMCTPAL ------------ PRTFCTPAL ---------- OPTTON PRTCF ------------ TrTTTAL PALAVCF i•'9, 325.00 qp,Pqp.no I 2,027.1 P 867-76 2,059.42 87,05-5P 90, 645.1'11 2 2,927.0 P43.0 2,08?.53 P5,1p?.05 P4.,774.111 2,927.0 p1g.55 2,107-67 P3,074.hl S6,01.ln ?,927.1P 795.44 2,191-74 pn,94P.CP P5,775-77 5 2,027.0 771.?4 2,155.411 74,786.0 Pl,4h7.P1 E 2,927.1P 7117.2? ?,179.95 76,606.PP 79,101.75 7 2,927.0 723.13 2,201.05 Mun2A4 76,76.96 P 2,927-12 699.03 2,228.15 72,174.6P 7P,392.P2 0 2,927.0 674.92 2,252.5 69,022.13 71,y5n.p in 2,OP7.lP 65OA2 2,276.76 07,646.06 69,50.4 11 P,927.lP Q6.71 P,300.47 65,345.59 rMPMP 12 2,0?7.1P 602.61 2,7?4.57 01,021.02 64,6?0.40 17 ?,9 p7.1p 57P.50 2,34P.64 60172.35 62,14.05 11 p'?P7.14 594.40 2,372.74 5P,299.57 99'(96.pp JP p,927.IF 5 70.10 P,396.P8 qn,mm 97,141.96 16 2,9?7.lP 906.19 2,420.99 5?,441.69 5h,6o8.31 17 2,927.1P 482.09 2.445.09 51,076.6n 92.055.92 1p P,9 ?7.lP 457.00 2,09.20 4P,967.4n 19,40.79 IT 2, 927.10 473,pr 2,1!93,7n 46,074.10 Wpph.op ?0 P,QP7.IP 404.''7 2,91731 4?,55n.6q 41,2P6.71 21 2,P?7.15 7P5.67 2,54I.51 41,019.14 41,698.96 22 2327.14 0 1 M 2,569.62 3P,449,07 79,012.Pe 2? 2,927.14 71706 2,PP9.72 39,859.F5 0,14P.M 2,927.1P 117.16 2,r13.p2 pjwnp p,mm 2,07-1P P59.25 2,6?7.9l 10,60P.09 30,q6p.1p 26 2,927.lP 267.15 2,662.n3 27,946.06 2P,241.1? 27 MY .& 211.04 2,6P6.14 29,259.9? 25,901.0 24 2,027-1P 216.94 2,710-24 22,549.CP PP,742.PP P9 P,9P7.1P 192M 2,774.35 19,819.34 10,965.0 Tr 2,q?7.1P I6 P.73 2,758.45 17,056.P9 17,169-79 71 2,9?7.IP 144.6? 2,78 ?.55 1•,274.34 11,254.P1 P2 P,027.0 120.7 2,W.66 11,467.68, 11,921.7 2,07.0 96.47 W10.76 P,616.91 P,669.10 4,927.1P 72.?l 2,454.87 5,782.05 5,794-14 75 2,07-0 aq.pl 2,878-97 2,003.04 2,90P.1i11 or P,927.1P 24.10 P,qog.op, .00 .00 S 580.6 ODOMETER MILEAGE STATEMENT Federal regulations require you t `ate the odometer mileage upon transfer of ownersh_ An inaccurate or untruthful statement may make you liable for damages to your tr aree, for attorney fees and for civil or criminal p ilties, pursuant to Sections 409, 412 and 413 of the Motor Vehicle Information and Cost Savings Act of 1972 (PUBLIC L 92 -513 as amended by PUB L 94.364) and /or CRS 42 -6- 201 -208 Part 2, 1973. This form is designed to comply with both Federal and Colorado requirements. I STATE THAT THE ODOMETER MILEAGE ON THE VEHICLE DESCRIBED BELOW NOW READS TRANSFEROR'S NAME SELLER PRINT MILES /KILOMETERS. ODOMETER RE DING CHECK ONE BOX ONLY: ❑ 1). I hereby certify that to the best of my knowledge the odometer reading as stated above reflects the actual mileage of the vehicle described below. ❑ 2). I hereby certify that to the best of my knowledge the odometer reading as stated above reflects the amount of mileage in excess of designed mechanical odometer limit of 99,999 miles /kilometers of the vehicle described below. ❑ 3). I hereby certify that to the best of my knowledge the odometer reading as stated above is not the actual mileage of vehicle described below and should not be relied upon. MAKE MODEL BODY TYPE VEHICLE IDENTIFICATION NO. YEAR DEALER STOCK NO. CHECK ONE BOX ONLY: ❑ 1). I hereby certify that the odometer of said vehicle was not altered, set back or disconnected while in my possession and have no knowledge of anyone else doing so. E 2). I hereby certify that the odometer was altered for repair or replacement purposes while in my possession and that the mileage registered on the repaired or replacement odometer was identical to that before such service. El 3). I hereby certify that the repaired or replacement odometer was incapable of registering the same mileage that it was reset to zero and that the mileage on the original odometer or the odometer before repair was miles /kilometers. I purchased (acquired or leased) the motor vehicle described above on or about STATE OF COLORADO )ss. COUNTY OF ). Subscribed and sworn to before me this day of , 19 My commission expires NOTARY PUBLI I hereby certify that I have received a copy of the above odometer (mileage) statement. TRANSFEREE'S SIGNATURE (BUYER PREVIOUS OWNER'S DISCLOSURE ACKNOWLEDGEMENT I hereby certify that I have received the previous owner's odometer (mileage) disclosure. S 580.6 ODOMETER MILEAGE STATEMENT Federal regulations require you t " --ate the odometer mileage upon transfer of ownersh An inaccurate or untruthful statement may make you liable for damages to your ti eree, for attorney fees and for civil or criminal 6 ,alties, pursuant to Sections 409, 412 and 413 of the Motor Vehicle Information and lost Savings Act of 1972 (PUBLIC L 92 -513 as amended by PUB L 94.364) and /or CRS 42- 6- 201 -208 Part 2, 1973. This form is designed to comply with both Federal and Colorado requirements. I STATE THAT THE ODOMETER MILEAGE ON THE VEHICLE DESCRIBED BELOW NOW READS TRANSFEROR'S NAME SELLER PRINT MILES /KILOMETERS. ODOMETER READING CHECK ONE BOX ONLY: ❑ 1). I hereby certify that to the best of my knowledge the odometer reading as stated above reflects the actual mileage of the vehicle described below. a 2). I hereby certify that to the best of my knowledge the odometer reading as stated above reflects the amount of mileage in excess of designed mechanical odometer limit of 99,999 miles /kilometers of the vehicle described below. ❑ 3). I hereby certify that to the best of my knowledge the odometer reading as stated above is not the actual mileage of vehicle described below and should not be relied upon. MAKE MODEL BODY TYPE VEHICLE IDENTIFICATION NO. YE R DEALER ST 0. CHECK ONE BOX ONLY: ❑ 1). I hereby certify that the odometer of said vehicle was not altered, set back or disconnected while in my possession and have no knowledge of anyone else doing so. ❑ 2). I hereby certify that the odometer was altered for repair or replacement purposes while in my possession and that the mileage registered on the repaired or replacement odometer was identical to that before such service. ❑ 3). I hereby certify that the repaired or replacement odometer was incapable of registering the same mileage that it was reset to zero and that the mileage on the original odometer or the odometer before repair was miles /kilometers. I purchased (acquired or leased) the motor vehicle described above on or about STATE OF COLORADO )ss. COUNTY OF ). Subscribed and sworn to before me this day of My commission expires NOTARY PUBLIC 19 I hereby certify that I have received a copy of the above odometer (mileage) statement. TRANSFEREE'S SIG .T RE (BUYER) PREVIOUS OWNER'S DISCLOSURE ACKNOWLEDGEMENT hereby certify that I have received the previous owner's odometer (mileage) disclosure. S 580.6 ODOMETER MILEAGE STATEMENT Federal regulations require you t ate the odometer mileage upon transfer of owner'h_ An inaccurate or untruthful statement may make you liable for damages to your tr eree, for attorney fees and for civil or criminal V _.alties, pursuant to Sections 409, 412 and 413 of the Motor Vehicle Information and Cost Savings Act of 1972 (PUBLIC L 92 -513 as amended by PUB L 94.364) and /or CRS 42 -6- 201 -208 Part 2, 1973. This form is designed to comply with both Federal and Colorado requirements. I TR tJSFEROR'S NAME (SELLER) PRINT STATE THAT THE ODOMETER MILEAGE ON THE VEHICLE DESCRIBED BELOW NOW READS MILES /KILOMETERS. ODOMETER READING CHECK ONE BOX ONLY: ❑ 1). I hereby certify that to the best of my knowledge the odometer reading as stated above reflects the actual mileage of the vehicle described below. ❑ 2). I hereby certify that to the best of my knowledge the odometer reading as stated above reflects the amount of mileage in excess of designed mechanical odometer limit of 99,999 miles /kilometers of the vehicle described below. F-1 3). I hereby certify that to the best of my knowledge the odometer reading as stated above is not the actual mileage of vehicle described below and should not be relied upon. MAKE MODEL BODY TYPE VEHICLE IDENTIFICATION NO. YEAR DEALER STOCK 0. CHECK ONE BOX ONLY: ❑ 1). I hereby certify that the odometer of said vehicle was not altered, set back or disconnected while in my possession and have no knowledge of anyone else doing so. (—j2). I hereby certify that the odometer was altered for repair or replacement purposes while in my possession and that the mileage (� registered on the repaired or replacement odometer was identical to that before such service. ❑ 3). I hereby certify that the repaired or replacement odometer was incapable of registering the same mileage that it was reset to zero and that the mileage on the original odometer or the odometer before repair was miles /kilometers. I purchased (acquired or leased) the motor vehicle described above on or about TRANSFEROR'S STREET ADDRESS SELLER CITY STATE ZIP CODE DATE OF ST TE14ENT TRANSFEROR'S SIGNATURE SELLER STATE OF COLORADO )ss. COUNTY OF ). Subscribed and sworn to before me this day of , 19 My commission expires NOTARY PUBLIC I TRANSFEREE'S SIGNATURE (BUYER) hereby certify that I have received a copy of the above odometer (mileage) statement. PREVIOUS OWNER'S DISCLOSURE ACKNOWLEDGEMENT hereby certify that I have received the previous owner's odometer (mileage) disclosure. PURCHASE ORDEF- TO F-- 4C5j' Co 30912 I Three —1 I c , rl Fom NP-R73 The 'c- Drawing Bwrd Inc., Box 505, Dallas, Texas ❑NOT FOR RESALE ❑FOR RESALE TAX NUMBER AUT H 0 R tz E: QL-el E NAT4 R E OUR PURCHASE ORDER NUMBER MUST APPEAR ON ALL INVOICES, SHIPPING PAPERS, AND PACKAGES PURCHASE ORDEP- TO SHIP TO 46�57 fob --lf 4 A 3' @ Fo— NP R73 The = Drawing Board !n�., Bez 5C5, Dz11— Tezes ❑NOT FOR RESALE ❑FOR RESALE f _ TAX NUMBER - AUTHORIZED SIGNATURE OUR PURCHASE ORDER NUMBER MUST APPEAR ON ALL INVOICES, SHIPPING PAPERS. AND PACKAGES Intermountain Co(- h 4657 Cobalt Colorado Springs, Colorado 80918 Denver #595 -3790 BUYERS ORDER AND INVOICE Date SALESMAN STOCK NO. Address Yr. & Make City & Stoll Modal Body Phone No. Color Driver's Lic. No. Permit No. Serial Date of Birth Source No. C y I STD AT yt R M PB PS ELEC AC ALL USED CARS SOLD "AS IS" WITH NO WARRANTY EXPRESSED OR IMPLIED AI I TRANSArTInNS ARE SUR]ECT To SELLER SECURING FINANCING APPROVAL ON ANY DEFERRED BALANCE Selling Price Trade -In Trade In TOTAL Yr. & Make Model Body Dealer Prep. & Handling Serial Mileage TOTAL No. Cyl s':- 11 T -, r; I ca ❑s e t I Used Car Allowance RTD Balance Owed ! "` State Tax City Tax C A s., I C H E C K Equity TOTAL Deposit with Order CASH ON DELIV. TOTAL DOWN PAYM'T AMOUNT TO FINANCE Signature of Purchaser Delivery of the automobile is to be taken within days. Failure to do so shall be a breach of this agreement and the seller may retain as liquidated damages therefor, the cash and all other considerations paid by purchaser. Seller receives checks and drafts, given in whole or part payment, conditionally only. Seller reserves title to motor vehicle until check or draft is paid by bank on which drawn. Any breach of contract by the buyer shall be sufficient cause for seller to declare contract void andlor to seek any redress for damages seller may deem buyer has committed by virtue of said breach of contract. Buyer guarantees to deliver clear, good title to his traded car. Buyer authorizes seller to supply and charge for collision insurance in contract in event there is no such insurance transferable or forth- coming from buyer. Buyer acknowledges receipt of a copy of this order. All promises, verbal understandings, or agreements of any kind pertaining to this purchase not specified herein are not binding on the seller. I, the purchaser, state that I ani over eighteen years of age and have legal right to transact business, I hereby acknowledge I have received evidence necessary for transfer of car title. Seller does not guarantee delivery date on new car. Buyer further authorizes seller to make payoff on his trade and to endorse his name to any rebate checks on his behalf. Buyer authorizes seller to correct and/or alter figures herein where amount owing on trade is Incorrect and/or where errors of arithmetic occur, and to change any and/or all figures affected therein, Including payments accordingly. Buyer acknowledges he/she supplied informatlqn regarding balance owing on the trade -in. Buyer authorizes seller to correct typographical errors herein. CUSTOMER UNDERSTANDS CAR IS SOLD "AS IS ". THIS MOTOR VEHICLE IS SOLD AS IS WITHOUT ANY WARRANTY, EITHER EXPRESS OR- IMPLIED. THE PURCHASER WILL BEAR THE ENTIRE EXPENSE OF REPAIRING OR CORRECTING ANY DEFECTS THAT PRESENTLY EXIST OR THAT MAY OCCUR IN THE VEHICLE. BUYER'S SIGNATURE BUYER'S SIGNATURE MANAGER'S SIGNATURE THIS ORDER MUST BE SIGNED BY AN OFFICIAL OF THE COMPANY Reorder from: A B & C ENTERPRISES . Drawer 10035, Denver, Colo. 80210 781.1788 Intermountain Cc 1h 4657 Cobalt Colorado Springs, Colorado 80918 Denver 4595 -3790 SALESMAN BUYERS ORDER AND INVOICE STOCK NO. I Date Address Yr. & Make City & State w. Model Body , Phone No Color Driver's Lic. No. Permit No. Serial Date of Birth Source No. Cyl. STD AT IV R PSI PS EL EC AC ALL USED CARS SOLD "AS IS" WITH NO WARRANTY EXPRESSED OR IMPLIED All 1 rvAucArTlnui ARF s11RIFrT Tn SELLER SECURING FINANCING APPROVAL ON ANY DEFERRED BALANCE Reorder from: A B & C ENTERPRISES • Drawer 10035, Denver, Colo. 80210 781.1788 Signature of Purchaser Selling Price Trade -In Trade In TOTAL Yr. & Make Model Body Dealer Prep. & Handling Serial Mileage TOTAL N° Cyl. S r H PS F � E Used Car Allowance RTD %% State Tax Balance Owed City Tax C A S. i c E c Equity TOTAL Deposit with Order CASH ON DELIV. TOTAL DOWN PAYM'T AMOUNT TO FINANCE Delivery of the automobile is to be taken within days. Failure to do so shall be a breach of this agreement and the seller may retain as liquidated damages therefor, the cash and all other considerations paid by purchaser. Seller receives checks and drafts, given in whole or part payment, conditionally only. Seller reserves title to motor vehicle until check or draft is paid by bank on which drawn. Any breach of contract by the buyer shall be sufficient cause for seller to declare contract void and/or to seek any redress for damages seller may deem buyer has committed by virtue of said breach of contract. Buyer guarantees to deliver clear, good title to his traded car. Buyer authorizes seller to supply and charge for collision insurance in contract in event there is no such insurance transferable or forth- coming from buyer. Buyer acknowledges receipt of a copy of this order. All promises, verbal understandings, or agreements of any kind pertaining to this purchase not specified herein are not binding on the seller. 1, the purchaser, state that I ant over eighteen years of age and have legal right to transact business. I hereby acknowledge I have received evidence necessary for transfer of car title. Seller does not guarantee delivery date on new car. Buyer further authorizes seller to make payoff on his trade and to endorse his name to any rebate checks on his behalf. Buyer authorizes seller to correct and /or alter figures herein where amount owing on trade is Incorrect andlor where errors of arithmetic occur, and to change any and/or all figures affected therein, Including payments accordingly. Buyer acknowledges he/she supplied informatign regarding balance owing on the trade -in. Buyer authorizes seller to correct typographical errors herein. CUSTOMER. UNDERSTANDS CAR IS SOLD "AS IS ". THIS MOTOR VEHICLE IS SOLD AS IS WITHOUT ANY WARRANTY, EITHER EXPRESS OR IMPPPPiCiED,,THE PURCHASER WILL BEAR THE ENTIRE EXPENSE 0F_ REPAIRING OR CORRECTING ANY DEFECTS THAT PRESENTLY EXIST ..OR THAT MAY OCCUR IN THE VEHICLE. BUYER'S SIGNATURE BUYER'S SIGNATURE MANAGER'S SIGNATURE THIS ORDER MUST BE SIGNED BY AN OFFICIAL OF THE COMPANY - - - - -. .. - _ - - Reorder from: A B & C ENTERPRISES • Drawer 10035, Denver, Colo. 80210 781.1788 Signature of Purchaser Intermountain Cob -h 4657 Cobalt Colorado Springs, Colorado 80918 Denver #595 -3790 Purchaser f SALESMAN BUYERS ORDER AND INVOICE STOCK NO, I Date Address Yr. & Make City & State Model Body Phone No. Color Driver's L.c. No. Permit No. Serial Dots of Birth Source No, Cyl, 5TD AT - yt R M PB P5 EL EC AC ALL USED CARS SOLD "AS IS" WITH NO WARRANTY EXPRESSED OR IMPLIED ALL TRANSACTIONS ARE SUBJECT TO SELLER SECURING FINANCING APPROVAL ON ANY DEFERRED BALANCE Selling Price Trade -In Trade In TOTAL Yr. & Make Model Body Dealer Prep. & Handling Serial Mileage TOTAL i No. cyl sr,. n vs r_E Used Car Allowance RTD - i Balance Owed State Tax City Tax C A S I C E C K Equity TOTA L Deposit with Order CASH ON DELIV. TOTAL DOWN PAYM'T AMOUNT TO FINANCE Signature of Purchaser Delivery of the automobile is to be taken within days. Failure to do so shall be a breach of this agreement and the seller may retain as liquidated damages therefor, the cash and all other considerations paid by purchaser. Seller receives checks and drafts, given in whole or part payment, conditionally only. Seller reserves title to motor vehicle until check or draft is paid by bank on which drawn. Any breach of contract by the buyer shall be sufficient cause for seller to declare contract void and/or to seek any redress for damages seller may deem buyer has committed by virtue of said breach of contract. Buyer guarantees to deliver clear, good title to his traded car. Buyer authorizes seller to supply and charge for collision insurance in contract in event there is no such Insurance transferable or forth- coming from buyer Buyer acknowledges receipt of a copy of this order. All promises, verbal understandings, or agreements of any kind pertaining to this purchase not specified herein are not binding on the seller. I, the purchaser, state that I ani over eighteen years of age and have legal right to transact business. I hereby acknowledge I have received evidence necessary for transfer of car title. Seller does not guarantee delivery date on new car. Buyer further authorizes seller to make payoff on his trade and to endorse his name to any rebate checks on his behalf. Buyer authorizes seller to correct and /or alter figures herein where amount owing on trade is Incorrect and /or where errors of arithmetic occur, and to change any and /or all figures affected therein, including payments accordingly. Buyer acknowledges he/she supplied informatign regarding balance owing on the trade -in. Buyer authorizes seller to correct typographical errors herein. CUSTOMER UNDERSTANDS CAR IS SOLD "AS IS ". THIS MOTOR VEHICLE IS SOLD AS IS WITHOUT ANY WARRANTY, EITHER EXPRESS OR- IMPLIED. THE PURCHASER WILL BEAR THE ENTIRE EXPENSE OF REPAIRING OR CORRECTING ANY DEFECTS THAT PRESENTLY EXIST OR THAT MAY OCCUR IN THE VEHICLE. BUYER'S SIGNATURE BUYER'S SIGNATURE MANAGER'S SIGNATURE THIS ORDER MUST BE SIGNED BY AN OFFICIAL OF THE COMPANY 781.1788 i i - i Signature of Purchaser Delivery of the automobile is to be taken within days. Failure to do so shall be a breach of this agreement and the seller may retain as liquidated damages therefor, the cash and all other considerations paid by purchaser. Seller receives checks and drafts, given in whole or part payment, conditionally only. Seller reserves title to motor vehicle until check or draft is paid by bank on which drawn. Any breach of contract by the buyer shall be sufficient cause for seller to declare contract void and/or to seek any redress for damages seller may deem buyer has committed by virtue of said breach of contract. Buyer guarantees to deliver clear, good title to his traded car. Buyer authorizes seller to supply and charge for collision insurance in contract in event there is no such Insurance transferable or forth- coming from buyer Buyer acknowledges receipt of a copy of this order. All promises, verbal understandings, or agreements of any kind pertaining to this purchase not specified herein are not binding on the seller. I, the purchaser, state that I ani over eighteen years of age and have legal right to transact business. I hereby acknowledge I have received evidence necessary for transfer of car title. Seller does not guarantee delivery date on new car. Buyer further authorizes seller to make payoff on his trade and to endorse his name to any rebate checks on his behalf. Buyer authorizes seller to correct and /or alter figures herein where amount owing on trade is Incorrect and /or where errors of arithmetic occur, and to change any and /or all figures affected therein, including payments accordingly. Buyer acknowledges he/she supplied informatign regarding balance owing on the trade -in. Buyer authorizes seller to correct typographical errors herein. CUSTOMER UNDERSTANDS CAR IS SOLD "AS IS ". THIS MOTOR VEHICLE IS SOLD AS IS WITHOUT ANY WARRANTY, EITHER EXPRESS OR- IMPLIED. THE PURCHASER WILL BEAR THE ENTIRE EXPENSE OF REPAIRING OR CORRECTING ANY DEFECTS THAT PRESENTLY EXIST OR THAT MAY OCCUR IN THE VEHICLE. BUYER'S SIGNATURE BUYER'S SIGNATURE MANAGER'S SIGNATURE THIS ORDER MUST BE SIGNED BY AN OFFICIAL OF THE COMPANY 781.1788 i ADDENDUM I EQUIPMENT LEASE AGRE-EML;NT The Lease is. made this tea_ day of 191?)- ,between Colorado National Leasing, Inc., a Colorado corporation ( "Lessor ") , and the - - - - Town of Avon _ - -- - ("Lessee"). In consideration of the mutual covenants and promises herein set forth, the parties agree as follows: 1. LEASE. Lessor hereby leases to Lessee, and Lessee hereby leases and hires from Lessor, the property, machinery and equipment ( "Equipment ") described in the Equipment Description (Exhibit- A attached hereto and made a part hereof) . 2. TE1*1. This Lease shall commence on the date hereof_ and unless sooner terminated as provided herein, shall expire I year(s) from the data of first delivery of any item of the Equipment. 3. RENT. Rent for the Equipment shall be in the amount set forth in the Equipment Lease Schedule (Exhibit B attached hereto and made a part hereof) . Lessee shall. pay Lessor such rent in the amounts and at the times set forth on Exhibit B at the office of Lessor in Golden, Colorado, or to such other pr -arson and /or at such other place as Lessor - may from time- I ; time designate. in writing. 4. USE. Lessee shall use the Equipment in a careful and proper manner and shall comply with all applicable governmental laws, ordinances and regulations in any way relating to the possession, use or maintenance of the Equipment. If at any time during the term hereof Lessor supplies Lessee with labels, plates or other markings, stating that the Equipment is owned by Lessor, Lessee shall affix the same to a prominent place on the Equipment. 5. LESSEE'S INSPEC`1'ION; WARRANTY DISCLAIMER. (a) Lessee shall inspect the Equipment within forty -eight (48) hours after receipt thereof. Unless Lessee within such period of time gives written notice to Lessor, specifying any defect in or other proper objection to the Equipment, LE�ssee agrees that it shall be conclusively presumed, as between Lessor and Lessee, that Lessee has fully inspected and acknowledged that the Equipment is in good condition and repair, and that Lessee is satisfied with and has accepted the Equipment in such good condition and repair. At or prior to expiration of such inspection period, Lessee shall execute and deliver to Lessor the Certificate of Acceptance. Exhibit C attached hereto and made a part hereof). (b) Lessor hereby assigns to Lessee for and during the term of this Lease all manufacturer's warranties and guarantees, express or implied, with respect to the Equipment, to the extent such warranties and guarantees are assignable. Lessee acknowledges that it selected each item of Equipment based on its own analysis and investigation from vendors chosen by Lessee and further acknowledges that Lessor made no representations or warranties in connection with the Equipment or vendors. LESSOR MAKES NO WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO THE EQUIPMENT AND EXPRESSLY DISCLAIMS ANY WARRAN'T'Y REGARDING THE MERCHANTABILITY OF THE EQUIPMENT, ITS FI'T'NESS FOR A PARTICULAR PURPOSE, ITS DESIGN, CONDITION OR WORKMANSHIP AND THE ENFORCEABILI'T'Y OF ANY WARRAN'T'Y OR GUARANTEE OF THE' MANUFACTURER OF THE EQUIPMENT. -1- .r � J 6. LESSOR'S INSPECTION. Lessor shall at any and all times_ during business hours have the right to enter into and upon the premises where the Equipment may be located for the purpose of inspecting the same or observing its use. 7. ALTERATIONS. Without the prior written consent of Lessor, Lessee shall not'make any alterations, additions or improvements to the Equipment. 8. REPAIRS. Lessee, at its own cost and expense, shall keep the Equipment in good repair and condition and shall bear all expenses of the maintenance and operation of the Equipment. 9. INSURANCE; LOSS AND DAMAGE; AGREED OPTION PRICE. Lessee shall keep the Equipment insured against all risks of loss or damage by fire and such other risks as are covered by endorsement commonly known as supplemental or extended coverage for the greater of,the fair market value thereof or the "Agreed Option Price" set forth in Exhibit B attached hereto with respect to the Equipment. Lessee shall also carry public liability and property damage insurance covering the Equipment in amounts not less than $200,000 in respect of bodily injury or death to any person, not less than $500,000 in respect of any one accident, and not less than $100,000 in respect of property damage. All such liability insurance shall insure both Lessor and Lessee and all such property damage insurance shall name Lessor as loss payee as its interest may appear. Lessee may effect such coverages under its blanket policies. No loss or damage to the Equipment or any part thereof shall impair any obligation of the Lessee under this Lease which shall continue in full force and effect. In the event of loss or damage of any kind whatever to any item of Equipment, the proceeds of such insurance shall be applied to any item of Equipment: (a) To place the same in good repair, condition and working order, or replace the same with like Equipment in good repair, condition and working order; or (b) If, in the reasonable judgment of Lessor, the Equipment is determined to be lost, stolen, destroyed or damaged beyond repair, Lessee shall pay Lessor therefor in cash, to the extent the insurance proceeds paid to Lessor may be insufficient, the Agreed Option Price set forth in Exhibit B determined as of the date of the last full rental payment made by Lessee, plus interest on such Agreed Option Price at the rate set forth in Exhibit B from the date of the last full rental payment until the date of payment for the Equipment. Upon such payment this Lease shall terminate with respect to the Equipment so paid for and Lessor will thereupon execute and deliver to Lessee a bill of sale transferring such Equipment to Lessee "AS -IS- WHERE -IS," WITHOUT WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO ANY MATTER WHATSOEVER. 10. SURRENDER. Except as provided in paragraph 20 hereof, upon the expiration or earlier termination of this Lease, Lessee shall (unless Lessee has purchased the Equipment pursuant to paragraphs 9 or 19 hereof) return the same to Lessor in good repair, condition and working order, ordinary wear and tear resulting from proper use thereof excepted, by delivering, at Lessee's sole cost and expense, possession of the Equipment to Lessor at such place as Lessor may designate. 11. TAXES AND LIENS. (a) Lessee agrees to pay and to indemnify and hold -2- 4r Lessor harmless from all license, sales, use, personal property or other taxes together with any penalties, fines or interest thereon imposed or levied with respect to the Equipment or the ownership, delivery, lease, possession, use, operation, sale or the disposition thereof, or upon the rentals or earnings arising therefrom. (b) Lessee shall not directly or indirectly create, incur, assume or suffer to exist any security interest, lien or encumbrance on or with respect to any item of Equipment or any interest therein. Lessee shall promptly, at its expense, take such action as may be necessary to discharge any such security interest, lien or encumbrance as and when the same shall arise. 12. LESSOR'S PAYMENT. In case of the failure of the Lessee to procure or maintain insurance on the Equipment, pay taxes on or with respect to the Equipment or maintain the Equipment free and clear of any security interests, liens and encumbrances, as herein specified, Lessor shall have the right, but not be obligated, to effect such insurance, to pay such taxes and discharge such security interest, liens and encumbrances and the cost thereof shall be repayable to Lessor with the next installment of rent. 13. DEFAULT. If the Lessee shall tail to pay the rent due and payable under Exhibit B attched hereto within ten (10) days after the same is due and payable, or if the Lessee shall fail to observe, keep or perform any other provision of this Lease for a period of ten (10) days after receipt of written notice thereof, Lessor shall have the right to exercise any one or more of the following remedies: (a) To terminate this Lease and to sue for and recover all rents and other payments then accrued and unpaid hereunder and all rents and other payments which will accrue during the then current fiscal year of Lessee. (b) To retain all rentals and to take possession of any or all items or Equipment, without further demand or notice and without any court order or other process of law, and either to remove the same or to lease the same'to others. 14. TERMINATION FOR NON- APPROPRIATION. Notwithstanding anything herein to the contrary, if Lessee does not appropriate funds for any fiscal year of Lessee during the term hereof sufficient;to pay the amounts due hereunder in such fiscal year and Lessee has exhausted all funds legally available for payments due under this Lease, Lessee may, by written notice given to Lessor no later than ten (10) days after adoption of the budget for such fiscal year, thereupon terminate this Lease. Upon such termination, Lessee shall return the Equipment to Lessor in accordance with paragraph 10 hereof and pay all rents and other payments due to Lessor for periods prior to the date the Equipment is so returned to Lessor. 15. ASSIGNMENT. Without the prior written consent of Lessor, Lessee shall neither assign, transfer, pledge or hypothecate this Lease, the Equipment or any part thereof, or any interest therein, nor sublet any item of Equipment. It is understood that Lessor contemplates assigning this Lease or interests in the Equipment and that Lessor's assignee may also assign the same. All rights of Lessor hereunder may be assigned, transferred, or otherwise disposed of, either in whole or in part, without notice to Lessee; provided, however that no assignment of this Lease or any interest therein shall be made except subject to the rights granted to the Lessee by virtue of this Lease; and provided further that no assignee of Lessor shall be -3- 4 obligated to perform any duty, covenant or condition required to be performed by Lessor under the terms of this Lease. 16. PERSONAL PROPERTY. The Equipment is, and shall at all times be and remain, personal property notwithstanding that the Equipment may be affixed or attached to, or imbedded in, or permanently resting upon, real property or any building thereon, or attached in any manner to what is permanent as by means of cement, plaster, nails, bolts, screws or otherwise. 17. INDEMNITY; LIMITS OF LIABILI`T'Y. Lessee hereby assumes liability for and agrees to indemnify and hold Lessor harmless from and against any and all debts, liabilities, obligations, claims and expenses, including court costs and attorney's fees, incurred by or asserted against Lessor in connection with, arising out of or incident to the ownership, delivery, lease, possession, use, operation, condition, sale or other disposition of any item of Equipment. Lessor is not responsible for any repairs or service to the Equipment or any defects therein. Lessor shall not be liable for any consequential, incidental or special damages of any character as a result of or arising out of the lease of the Equipment, or any item thereof, including loss of profits, property damage or lost production, whether suffered by Lessee or any other person. 18. INTEREST. Should Lessee fail to pay any part of the rent herein reserved or any other sum required by Lessee to be paid to Lessor, within 10 days after the due date thereof, Lessee shall pay to the Lessor interest on such delinquent payment from the due date until paid at the rate of R;, per annum 19. OPTION. Provided Lessee is not in default in the performance of its obligations hereunder, Lessee shall have the option, at any time after F,,hruary _ to purchase the Equipment for an amount equal to the Agreed Option Price thereof set forth in Exhibit B at the date of the last full rental payment, plus interest on such Agreed Option Price at the rate set forth in Exhibit B from the date of the last full rental payment until the date of payment for the Equipment. Such option to purchase the Equipment shall be exercised by the payment of the Agreed Option Price plus interest as herein provided to Lessor at Lessor's office in Golden, Colorado. If Lessee exercises the option to purchase the Equipment, title thereto shall thereupon become vested in Lessee and Lessor will thereupon execute and deliver to Lessee a bill of sale transferring such Equipment to Lessee "AS -IS- WHERE -IS ", WITHOUT WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO ANY MATTER WHATSOEVER. 20. EXPIRATION. If Lessee shall comply with all provisions of this Lease on its part to be kept and performed, then upon the expiration of this Lease, all right, title and interest of Lessor in the Equipment subject to this Lease shall vest in and become the property of Lessee, and Lessor sale transferring such Equipment to Lessee, "AS -IS- WHERE -IS ", WITHOUT WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO ANY MATTER WHATSOEVER. 21. TAX EXEMPTION. The "Rent ", "Interest ", "Agreed Option Price" and other computations set forth in this Lease and exhibits attached hereto have been fixed and computed upon the assumption that the amount designated as "Interest" will be exempt from federal income taxation and (if so noted on Exhibit B) state income taxation in the hands of the Lessor and its assignees. If it is determined that such -4- n "Interest" payments are not so exempt, then the items of "Rent ", "Interest ", "Agreed Option Price" and related computations payable by the Lessee to Lessor hereunder shall be adjusted so as to provide Lessor with the amount of such items as shall equal, on an aster tax basis, the amount thereof set forth in this Lease and Exhibits attached hereto. The method and timing of the payment of such adjustment shall be as mutually agreed upon promptly following notice to Lessee of the need for such adjustment. 22. FINANCIAL S'T'ATEMENTS. Lessee shall furnish to Lessor, within sixty (60) days after the end of each fiscal quarter of Lessee, financial statements of Lessee which shall include a balance sheet and statement of revenue and expense of Lessee for the quarter and the year to date and such other information and reports as Lessor shall reasonably request. All such financial statements shall be certified to be true and correct by the appropriate officer of Lessee. 23. CLAIMS. Lessor hereby appoints and constitutes Lessee as its agent and attorney -in -fact during the term of this Lease to assert and enforce, at the sole cost and expense of the Lessee, whatever claims and rights the Lessor may have as owner of the Equipment against any vendors, manufacturers, suppliers or contractors in respect thereof. 24. NUN - WAIVER. No waiver of any of the Lessee's obligations under this Lease shall be deemed to take place unless such waiver has been made in writing and signed by the Lessor. Failure to exercise any remedy which Lessor may have under this Lease or any other acquiescence by the Lessor in any default by the Lessee shall not constitute a waiver of any obligation of Lessee hereunder, including the obligation as to which Lessee is in default. 25. CONCURRENT REMEDIES. No right or remedy conferred upon or reserved to the Lessor in this Lease is exclusive of any other right or remedy provided or permitted herein by law or equity; but each shall be cumulative of any other right or remedy given hereunder, or now or hereafter existing at law or in equity or by statute or otherwise, and may be enforced concurrently therewith, or from time to time. 26. MODIFICATION. This Lease constitutes the entire agreement between Lessor and Lessee and shall not be amended, altered or modified except in a writing signed by the parties hereto. 27. NOTICES. All notices required or permitted hereunder shall be sufficient if delivered personally or mailed to the parties at the address hereafter set forth or at such other address as either party may designate in writing from time to time. Any such notice shall be effective 48 hours after it has been deposited in the United States mail, duly addressed and with postage prepaid. 28. GOVERNING LAW. This Lease and other instruments or documents executed by the parties hereto, and the rights and duties of the parties hereto, shall be construed and enforced in accordance with the laws of the State of Colorado. 29. TIME. Time is of the essence of this Lease and each and all of its provisions. 30. SEVERABILITY. If any provision in this Lease or the application of such provision to any person or -5- IN WITNESS WHEREOF, the parties hereto have executed this Lease the day and year first above written. LESSOR: COLORADO NATIONAL LEASING, INC. By Bldg. 51, Suite 150 14142 Denver West Pkwy. Golden, CO 80401 LESSEE: /ecy� D{ ado BY ATTACHMENTS: Resolution No. �,ZZ� of the ILEquipment Description (Exhibit A) ,,Equipment Lease Schedule (Exhibit B) (Certificate of Acceptance (Exhibit C) vOpinion of Counsel CERTIFICATE OF ACCEPTANCE The undersigned hereby certifies that it has received, inspected, approved and hereby accepts delivery of the Following equipment upon the terms and conditions set forth herein and in that Equipment Lease Agreement dated 2jj9g�- between the undersigned and Colorado National Leasing, Inc., a Colorado corporation: 1. Description of Equipment 1 - JT4RN48SOD0060744 new 1983 Toyota 4 W.D. pickup SR -5 w /camper shell 2. Cost: The cost of the equipment is $ 10,500.00 The undersigned further certified that the foregoing equipment is in good order and condition, and con- forms to the specifications applicable thereto. The execution of this Certificate will in no way relieve or decrease the responsibility of the manufacturer of the equipment for any warranties it has made with respect to the same. The undersigned hereby requests Colorado National Leasing, Inc. to process payment in the amount of $10,500.00 to the vendor. i Dated. TOWN OF AVON By Lessee ATTEST: EQUIPMENT LEASE SCHEDULE A. EQUIPMENT LEASED: 1 - JT4RN48SOD0060744 new 1933 Toyota 4 W.D. Pickup SR -5 W /camper shell B. TERM: Unless sooner terminated as set forth in the Lease, the term of this Lease respecting each item of equipment listed on this schedule on shall commence on and shall expire on i C. RENT: As rent for said equipment, Lessee shall pay Lessor the sum of $1 2 , 384 . oo , payable in installments as follows: 36 monthly payments of $344.00 commencing on , which said installments of rental include interest at a rate of 11.7 per annum on the Agreed Option Price. D. LOCATION: The above described equipment shall be located at Town of Avon, Avon, Colorado and shall not be removed therefrom without the prior written consent of Lessor. kj 2� APPROVED AND AGREED TO THIS_ DAY OF e2_19 Z /�v as a schedule to that certain Lease dated the )e a . COLO O NATI LEASING, INC. By LESSOR TOWN OF AVON By LESSEE FYHT"TT P FOUIPP?FNT LFASF SCI!F.PIJL.F PAYMHT FFNT DF`'�TGMATF01 RFPtJCTTON OF' Nn. PAYMFNT TNTF.RF..ST PRTNCTPA1, LFPSF P PP202 PALPL'CF PF ACRFFP PRTNCTPAL, OPTTOM PRICE TTAL PAL.ANCF. 101,,0101,0101 101 Pr,7,,n 1 ?u4.nn 101.P4 2u2. 1r, 1n,2,7.P4 In, 6n5.l17 P ?44.0101 0q.()1 2411 on 1n,n12.P5 10,41.17 ?114 , nn nE . 1 F 247 . P2 n , 76, , n? in, 017!! , �n 4 ?44.no Ec 0 ,1 L1 9, Fog 7' , 10,111.00 qn. '-,2 25? . !!?? 0 260. on (. ?!14,010 9"'.Cn 2,6. 1 Q,nn!!,rn q, 261. 1P 7 Ill 11 , on P,ll . 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Po t! .nn 22.F ?21 717 2, ?2P.7Q r,?It4.Ph ,01 ?ti L! n Q. ?2I.2n 2, 00 ,O1E..1F ?1 ?44.nn 1E.Q7 �27.n 1,67? 57 1, (A,.84 ?? -144.00 1 LI . 14 F6 1 , ?47 . 71 1 , 253. 2? ?. ?2. 6R 1,f'15.('? 1,011F. ?I!. ?4 '�41I.01n P.4n ? ?,,,1 67. 1 C.R1.1"r �5 ?.44. nn 5 6E 'W ?41 . 17 -41 .72 �F ,at!. no P. F-1 ?41.17 no no I re -75 "1 I, livered Price Cessorles CWUW&M l Lis ! fe: Car & Accessories ' z L : ode -In A!!_�"anca, in- :lu 1i +iscount from list price To ;Sale Price / Sal axe % TOTAL Bale Owing on Ti T to Cash Price T CASH PRICE I /OAM MOTOR VEHICLE PURCHASE'"" R 152 West 6th St. Glenwood Springs, Cnlur4d0 81601 --------- - - - - -- DEALER'S NAME AND ADDRESS--------- - - - - -- BU E 'S NAME j IL n Address 1471+2— Ci tate, 8 Count y MOTOR VEHICLE DESCRIPTION ew Demo Year a Make sed Exec 1 / CASH SETTLEMENT Deposit 1. Receipt No. 2. Cash on Delivery Total Items 1 & 2 Remaining Cash Balance Due Remaining Cash Balance due to be financed by Dealer: Yes No. If remaining Cash Balance Due is to be f inanc- ed by Dealer, you are entitled to applicable Turth -in- Lending disclosures before acceptance of this order by dealer. egeusted Delivery / / AM /PM Time TRADE - IN Make I Year I. D. No. License No. Mileage itle No. SALESMAN DATE' A� Cl p W n7 CJ`s e_ . / /O iver's License eage �y REMARKS ►P - �cZs 4, ALL USED CARS SOLD "AS IS" OR "WITH ALL FAULTS" UNLESS SEPARATE AGREEMENT IS FURNISHED BUYER. CAUTION: THIS AGREEMENT CONSISTS OF TWO PAGES. SEE REVERSE SIDE FOR ADDITIONAL TERMS AND CONDITIONS. BUYER(S) HEREBY ACKNOWLEDGE RECEIPT OF A COPY OF THIS AGREEMENT. THIS AGREEMENT SHALL NOT BECOME BINDING UNTIL ACCEPTED BY DEALER OR HIS AUTHORIZED REPRESENTATIVE. BUYER'S SIGNATURE DATE BUYER'S SIGNATURE DATE ACCEPTED BY DEALER -- �� DATE l� �<? } ADDENDUM II EQUIPMENT LEASE AGREE[,IENT The Lease is made this day o1 191�between Colorado National Leasing, Inc., a Colorado corporation ( "Lessor "), and the 'Town of Avon ( "Lessee "). In consideration of the mutual covenants and promises herein set forth, the parties agree as follows: 1. LEASE. Lessor hereby leases to Lessee, and Lessee hereby leases and hires from Lessor, the property, machinery and equipment ( "Equipment ") described in the Equipment Description (Exhibit A attached hereto and made a part hereof). 2. TERM. 'Phis Lease shall commence on the date hereot and unless sooner terminated as provided herein, shall expire 5 year(s) from the date of first delivery of any item of the Equipment. 3. RENT. Rent for the Equipment shall be in the amount set forth in the Equipment Lease .Schedule (Exhibit B attached hereto and made a part hereof). Lessee shall pay Lessor such rent in the amounts and at the times set forth on Exhibit B at the office of Lessor in Golden, Colorado, or to such other person and /or at such other place as Lessor may from time to time designate in writing. 4. USE. Lessee sliall use the Equipment in a careLul and proper manner and shall comply with all applicable governmental laws, ordinances and regulations in any way relating to the possession, use or maintenance of the Equipment. If at any time during the term hereof Lessor supplies Lessee with labels, plates or other markings, stating that the Equipment is owned by Lessor, Lessee shall affix the same to a prominent place on the Equipment. 5. LESSEE'S INSPECTION; WARRANTY DISCLAIMER. (a) Lessee shall inspect the Equipment within forty -eight (48) hours after receipt thereof. Unless Lessee within such period of time gives written notice to Lessor, specifying any defect in or other proper objection to the Equipment, Lessee agrees that it shall be conclusively presumed, as between Lessor and Lessee, that Lessee has fully inspected and acknowledged,that the Equipment is in good condition and repair, and that Lessee is satisfied with and has accepted the Equipment in such good condition and repair. At or prior to expiration of such inspection period, Lessee shall execute and deliver to Lessor the Certificate of Acceptance. Exhibit C attached hereto and made a part hereof). (b) Lessor hereby assigns to Lessee for and during the term of this Lease all manufacturer's warranties and guarantees, express or implied, with respect to the Equipment, to the extent such warranties and guarantees are assignable. Lessee acknowledges that it selected each item of Equipment based on its own analysis and investigation from vendors chosen by Lessee and further acknowledges that Lessor made no representations or warranties in connection with the Equipment or vendors. LESSOR MAKES NO WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO THE EQUIPMENT AND EXPRESSLY DISCLAIMS ANY WARRANTY REGARDING THE MERCHANTABILITY OF THE EQUIPMENT, ITS FITNESS FOR A PARTICULAR PURPOSE, ITS DESIGN, CONDITION OR WORKMANSHIP AND THE ENFORCEABILITY OF ANY WARRANTY OR GUARANTEE OF THE MANUFACTURER OF THE EQUIPMENT. -1- rYr 6. LESSUR'S INSPECTION. Lessor shall at any and all times during business hours have the right to enter into and upon the premises where the Equipment may be located for the purpose of inspecting the same or observing its use. 7. ALTERATIONS. Without the prior written consent of Lessor, Lessee shall not make any alterations, additions or improvements to the Equipment. 8. REPAIRS. Lessee, at its own cost and expense, shall keep the Equipment in good repair and condition and shall bear all expenses of the maintenance and operation of the Equipment. 9. INSURANCE; LOSS AND DAMAGE; AGREED OPTION PRICE. Lessee shall keep the Equipment insured against all risks of loss or damage'by fire and such other risks as are covered by endorsement commonly known as supplemental or extended coverage for the greater of the fair market value thereof or the "Agreed Option Price" set forth in Exhibit B attached hereto with respect to the Equipment. Lessee shall also carry public liability and property damage insurance covering the Equipment in amounts not less than $200,000 in respect of bodily injury or death to any person, not less than $500,000 in respect of any one accident, and not less than $100,000 in respect of property damage. All such liability insurance shall insure both Lessor and Lessee and all such property damage insurance shall name Lessor as loss payee as its interest may appear. Lessee may effect such coverages under its blanket policies. No loss or damage to the Equipment or any part thereof shall impair any obligation of the Lessee under this Lease which shall continue in full force and effect. In the event of loss or damage of any kind whatever to any item of Equipment, the proceeds of such insurance shall be applied to any item of Equipment: (a) To place the same in good repair, condition and working order, or replace the same with like Equipment in good repair, condition and working order; or (b) If, in the reasonable judgment of Lessor, the Equipment is determined to be lost, stolen, destroyed or damaged beyond repair, :Lessee shall pay Lessor therefor in cash, to the extent the insurance proceeds paid to Lessor may be insufficient, the Agreed Option Price set forth in Exhibit B determined as of the date of the last full rental payment made by Lessee, plus interest on such Agreed Option Price at the rate set forth in Exhibit B from the date of the last full rental payment until the date of payment for the Equipment. Upon such payment this Lease shall terminate with respect to the Equipment so paid for and Lessor will thereupon execute and deliver to Lessee a bill of sale transferring such Equipment to Lessee "AS -IS- WHERE -IS," WITHOUT WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO ANY MATTER WHATSOEVER. 10. SURRENDER. Except as provided in paragraph 20 hereof, upon the expiration or earlier termination of this Lease, Lessee shall (unless Lessee has purchased the Equipment pursuant to paragraphs 9 or 19 hereof) return the same to Lessor in good repair, condition and working order, ordinary wear and tear resulting from proper use thereof excepted, by delivering, at Lessee's sole cost and expense, possession of the Equipment to Lessor at such place as Lessor may designate. 11. TAXES AND LIENS. (a) Lessee agrees to pay and to indemnify and hold -2- Lessor harmless from all license, sales, use, personal property or other taxes together with any penalties, fines or interest thereon imposed or levied with respect to the Equipment or the ownership, delivery, lease, possession, use, operation, sale or the disposition thereof, or upon the rentals or earnings arising therefrom. (b) Lessee shall not directly or indirectly create, incur, assume or suffer to exist any security interest, lien or. encumbrance on or with respect to any item of Equipment or any interest therein. Lessee shall promptly, at its expense, take such action as may be necessary to discharge any such security interest, lien or encumbrance as and when the same shall arise. 12. LESSOR'S PAYMENT. In case of the failure of the Lessee to procure or maintain insurance on the Equipment, pay taxes on or with respect to the Equipment or maintain the Equipment free and clear of any security interests, liens and encumbrances, as herein specified, Lessor shall have the right, but not be obligated, to effect such insurance, to pay such taxes and discharge such security interest, liens and encumbrances and the cost thereof shall be repayable to Lessor with the next installment of rent. 13. DEFAULT. If the Lessee shall tail to pay the rent due and payable under Exhibit B attched hereto within ten (10) days after the same is due and payable, or if the Lessee shall Lail to observe, keep or perform any other provision of this Lease for a period of ten (10) days after receipt of written notice thereof, Lessor shall have the right to exercise any one or more of the following remedies: (a) To terminate this Lease and to sue for and recover all rents and other payments then accrued and unpaid hereunder and all rents and other payments which will accrue during the then current fiscal year of Lessee. (b) To retain all rentals and to take possession of any or all items or Equipment, without further demand or notice and without any court order or other process of law, and either to remove the same or to lease the same,to others. 14. TERMINATION FOR NON - APPROPRIATION. Notwithstanding anything herein to the contrary, if Lessee does not appropriate funds for any fiscal year of Lessee during the term hereof sufficient.to pay the amounts due hereunder in such fiscal year and Lessee has exhausted all funds legally available for payments due under this Lease, Lessee may, by written notice given to Lessor no later than ten (10) days after adoption of the budget for such fiscal year, thereupon terminate this Lease. Upon such termination, Lessee shall return the Equipment to Lessor in accordance with paragraph 10 hereof and pay all rents and other payments due to Lessor for periods prior to the date the Equipment is so returned to Lessor. 15. ASSIGNMENT. Without the prior written consent of Lessor, Lessee shall neither assign, transfer, pledge or hypothecate this Lease, the Equipment or any part thereof, or any interest therein, nor sublet any item of Equipment. It is understood that Lessor contemplates assigning this Lease or interests in the Equipment and that Lessor's assignee may also assign the same. All rights of Lessor hereunder may be assigned, transferred, or otherwise disposed of, either in whole or in part, without notice to Lessee; provided, however that no assignment of this Lease or any interest therein shall be made except subject to the rights granted to the Lessee by virtue of this Lease; and provided further that no assignee of Lessor shall be -3- 1J .1 obligated to perform any duty, covenant or condition required to be performed by Lessor: under the terms of this Lease. 16. PERSONAL PROPERTY. The Lquipment is, and shall at all times be and remain, personal property notwithstanding that the Equipment may be affixed or attached to, or imbedded in, or permanently resting upon, real property or any building thereon, or attached in any manner to what is permanent as by means of cement, plaster, nails, bolts, screws or otherwise. 17. INDEMNI'T'Y; LIMIT'S OF LIABILI'T'Y. Lessee hereby assumes liability for and agrees to indemnify and hold Lessor harmless from and against any and all debts, liabilities, obligations, claims and expenses, including court costs and attorney's fees, incurred by or asserted against Lessor in connection with, arising out of or incident to the ownership, delivery, lease, possession, use, operation, condition, sale or other disposition of any item of Equipment. Lessor is not responsible for any repairs or service to the Equipment or any defects therein. Lessor shall not be liable for any consequential, incidental or special damages of any character as a result of or arising out of the lease of the Equipment, or any item thereof, including loss of profits, property damage or lost production, whether suffered by Lessee or any other person. 18. INTEREST. Should Lessee fail to pay any part of the rent herein reserved or any other sum required by Lessee to be paid to Lessor, within 10 days after the due date thereof, Lessee shall pay to the Lessor interest on such delinquent payment from the due date until paid at the rate of 18% per annum 19. OPTION. Provided Lessee is not in default in the performance of its obligations hereunder, Lessee shall have the option, at any time after February 28, 1983 to purchase the Equipment for an amount equal to the Agreed Option Price thereof set forth in Exhibit B at the date of the last full rental payment, plus interest on such Agreed Option Price at the rate set forth in Exhibit B from the date of the last full rental payment until the date of payment for the Equipment. Such option to purchase the Equipment shall be exercised by the payment of the Agreed Option Price plus interest as herein provided to Lessor at Lessor's office in Golden, Colorado. If Lessee exercises the option to purchase the Equipment, title thereto shall thereupon become vested in Lessee and Lessor will thereupon execute and deliver to Lessee a bill of sale transferring such Equipment to Lessee "AS -IS- WHERE -IS ", WITHOUT WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO ANY MATTER WHATSOEVER. 20. EXPIRATION. If Lessee shall comply with all provisions of this Lease on its part to be kept and performed, then upon the expiration of this Lease, all right, title and interest of Lessor in the Equipment subject to this Lease shall vest in and become the property of Lessee, and Lessor sale transferring such Equipment to Lessee, "AS -IS- WHERE -IS ", WITHOUT WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO ANY MATTER WHATSOEVER. 21. TAX EXEMPTION. The "Rent ", "Interest ", "Agreed Option Price" and other computations set forth in this Lease and exhibits attached hereto have been fixed and computed upon the assumption that the amount designated as "Interest" will be exempt from federal income taxation and (if so noted on Exhibit B) state income taxation in the hands of the Lessor and its assignees. If it is determined that such -4- "Interest" payments are not so exempt, then the items of "Rent ", "Interest ", "Agreed Option Price" and related computations payable by the Lessee to Lessor hereunder shall be adjusted so as to provide Lessor with the amount of such items as shall equal, on an after tax basis, the amount thereof set forth in this Lease and Exhibits attached hereto. The method and timing of the payment of such adjustment shall be as mutually agreed upon promptly following notice to Lessee of the need for such adjustment. 22. FINANCIAL STATEMENTS. Lessee shall furnish to Lessor, within sixty (60) days after the end of each fiscal quarter of Lessee, financial statements of Lessee which shall include a balance sheet and statement of revenue and expense of Lessee for the quarter and the year to date and such other information and reports as Lessor shall reasonably request. All such financial statements shall be certified to be true and correct by the appropriate officer of Lessee. 23. CLAIMS. Lessor hereby appoints and constitutes Lessee as its agent and attorney -in -fact during the term of this Lease to assert and enforce, at the sole cost and expense of the Lessee, whatever claims and rights the Lessor may have as owner of the Equipment against any vendors, manufacturers, suppliers or contractors in respect thereof. 24. NON - WAIVER. No waiver of any of the Lessee's obligations under this Lease shall be deemed to take place unless such waiver has been made in writing and signed by the Lessor. Failure to exercise any remedy which Lessor may have under this Lease or any other acquiescence by the Lessor in any default by the Lessee shall not constitute a waiver of any obligation of Lessee hereunder, including the obligation as to which Lessee is in default. 25. CONCURRENT REMEDIES. No right or remedy conferred upon or reserved to the Lessor in this Lease is exclusive of any other right or remedy provided or permitted herein by law or equity; but each shall be cumulative of any other right or remedy given hereunder, or now or hereafter existing at law or in equity or by statute or otherwise, and may be enforced concurrently therewith, or from time to time. 26. MODIFICATION. This Lease constitutes the entire agreement between Lessor and Lessee and shall not be amended, altered or modified except in a writing signed by the parties hereto. 27. NOTICES. All notices required or permitted hereunder shall be sufficient if delivered personally or mailed to the parties at the address hereafter set forth or at such other address as either party may designate in writing from time to time. Any such notice shall be effective 48 hours after it has been deposited in the United States mail, duly addressed and with postage prepaid. 28. GOVERNING LAW. This Lease and other instruments or documents executed by the parties hereto, and the rights and duties of the parties hereto, shall be construed and enforced in accordance with the laws of the State of Colorado. 29. TIME. Time is of the essence of this Lease and each and all of its provisions. 30. SEVERABILITY. If any provision in this Lease or the application of such provision to any person or circumstance shall be invalid, illegal or unenforceable, the -5- (07 remainder of this Lease or the application of such provision to persons or circumstances other than those to which it is invalid, illegal or unenforceable shall not be affected thereby. IN WITNESS WHEREOF, the parties hereto have executed this Lease the day and year first above written. LESSOR: COLORADO ATIONAL EASING, INC. By Bg. 51, Suite 150 ��0-1-den, 42 Den er West Pkwy. CO 80401 LESSEE: 'TOWN OF AVON By ATTACHMENTS: Resolution No. i O of the r %Gw C; i'Equipment Description (Exhibit A) ,� Equipment Lease Schedule (Exhibit B) Certificate of Acceptance .Opinion of Counsel (Exhibit C) a.-Is CERTIFICATE OF' ACCEPTANCE, The undersigned hereby certities that it has received, inspected, approved and hereby accepts delivery of the following equipment upon the terms and conditions set forth herein and in that Equipment Lease Agreement dated ��-, /`3 7V between the undersigned and Colorado National Leasing, lne., a Colorado corporation: 1. Description of Equipment 1 - New P2327 Oshkosh (snowplow) 2. Cost The cost of the equipment is $121,088.12 . The undersigned further certified that the foregoing equipment is in good order and condition, and con- forms to the specifications applicable thereto. The execution of this Certificate will in no way relieve or decrease the responsibility of the manufacturer of the equipment for any warranties it has made-with respect to the same. The undersigned hereby requests Colorado National Leasing, Inc. to process payment in the amount of $121,088.12 to the vendor. ^� Dated: Z- TOWN OF AVON By Lessee i EQUIPMENT LEASE SCHEDULE I t A. EQUIPMENT LEASED: i 1 - New P2327 Oshkosh (snowplow) i i t i B. TERM: Unless sooner terminated as set forth in the ! Lease, 'the term of this Lease respecting each item of } r equipment listed on this schedule on sha 1 commence on and shall expire on l /9 f . C. RENT: As rent for said equipment, Lessee shall pay t Lessor the sum of 159,180.00 , payable in installments as follows: 60 monthly_ payments of $2, 653.00 commencing on �3 which said installments of renta include interest at a rate of 11.75 per annum on the Agreed Option Price. D. LOCATION: The above described equipment shall be located at Town of Avon, Avon, Colorado and shall not be removed therefrom without the prior written consent of Lessor. 2Y APPROVED AND AGREED TO THIS_DAY OF e_l9� a 2 w� as a schedule,.to that certain Lease dated the da WOMEN COLORADO WATIONAL LASING, INC. By LESSOR T0WN OF AVON By LESSEE PAY 'ENT No. !'JAL PALAt''( F F }'I17PT'l P FCIITPI'FP!T I.EA7, QC F.rtII,F PF1`IT 1,E`'TGt!ATFP RFPI1CTT('t' OF PArrlFVT TNTFRF. °T PRTt':CTPP;I. LFAFF (' °f'?n1 PAL.AI''CF CF AGRFF.P FRTt1C'T PP. 1, nPTT('" PPTCF 1?1,rPP,1? 1 1,, ?1IP.n1 l 1101!.0(1 11n,6�r1! 1,71 7P?, ?( ? ?, on 1, In 1,1' ?Ikon 11 P,2rJ) 1 133,33!,6? P. no 1,307, ?P 1,1!)!0.7? 11f,R1?,11? 130,0111.170 1I P, no 1, 1f 6,,tt7 115, "'46.,PP 11 ,n4 n5 5 2,65 ?.on 1 16r,617 1 tIR7,'�5 1I PC, (1 5LI ll7 1126 nl F. 3, 653,rn 1 1)!LI 1 1,50 °.1F 11 ?, "'rl, ?F !!0,'00,11'7 on 1 , 1 ?11 , n? 1 , 5 ?P. 0c? 1 1n P3?, nn 11,.I IPC; 1111 1,1n =,?1 11 ?,t1G?,cn 9 ?,653.on 1,(W. ,o 1,570.61 107, ^02.no 11n,772.P7 In ?,f57 017 1,r61,5P 1,`91.L? 106:,!!0.06 1!lq,nf, ?,�4 11 ?,F5?.no I,('11r. -76 1,6 1?. ?)1 1011,u0n. 10'1,'I 517 _1? 2, no 1,019,0 1,6? ?.n5 In ?,p6.5.PP 10- ,UP.77 1? 2,653.00 `)00.13 1,603,07 101,211.111 10 ?,P??.74 111 p, no 07P, I,6711.6P. �9,«F.7< 102,040,21 15 2,65,.00 �57,�r 1,6c)5,5r �?7,P111. ?? 1 on, ?3p.1P 16 2, 653.rn 96,124,9? 00.,1117. 65 17 2,(5 ?.00 P7 1,7 ?7. 1? 04, P7,7q 0(,,57' (:? 1P 2,F5 ?,nn P05,r6 1,'797,011 q?,f ?4. P4 94,7?1 OC) 19 2,f.57.or R711,21I 1,779,76 q0 pr- 1.op 02,P1i5,rr ?� 2,65?. (10 1,7nq,5p PO,r51.�1 90,95n,5h ?1 ?,657.rr' X2.61 1, FPO. ?o ? "', ? ?1, 1? 6'n,r %7,'•1 3,653.00 P11,70 l F111.21 .01 P",1r5.nq ? 2,65?.rn 7061,0^, 1,6'62.0? "',5?7,Pn P5,I .n6 y, ?,65?.ro 770.16 1,PP2.P4 P1,61!5,r5 F3,?P7,ut, ?� 3,65 ?.rn Ills ?5 1,903. 7 7111.1Ir P1,?Or,III on 1,924.1!7 77,c76,9l1 79 ,104.6'a 2,65,. no 707.7? 1,45. ?P 75 1'71,65 73,170.07 ?p P, on (06.40 1,060,10 7 ,4n�,F6 75,1 ?P. ?r 2C1 2,65 7,rn 617 6. Cc? 1,gp6.nl 71,01P.64 7 ?,067,x, 3n 2,651,00 645. ?7 2,no7.73 60,010,9? 7n,QP7.P0 31 2,65-�.on FPO .46 2,17 ?p. 174 67,PP? '. 60,009,70 32 2,653.(`0 603.64 2,049.?( 65,p?�,n1 66x,77 ?. ?7 33 2,653,00 582. P3 3,070 17 f,7 762. P14 64, 6 ?8.35 34 2, 653. no 56?.n1 2,r9n.90 �1,671,P5 (,?,118.4.7? ,5 2,65 ?,00 541.20 2,111.00 54,r-;F..n.05 60,?1 ?.71 36 2, 65,. on 520. ,8 2, 132. 6? 57, 1127, 11? C; , 1 ? ?. ?r 2,653.00 499.57 2,15 ?.113 55, ?74.00 55, 913. 1P 3F' 2,653.ro 117R.75 ?, 174 , ?5 53,000,75 5? (sz5,6;, 39 2,653.00 457.911 ?,195.06 50,904,68 11 0. f.5 110 2,653.00 4737.12 2,?15.PP, )l R,6RR.R0 49,175.14 41 2,653.00 416.30 2,236,70 116,452.11 116,09 ?.12 42 2,653.00 ?95.4C) 2,257.51 44,1911, 59 !I 11,5On.61 4? 2,653,00 ?74.67 2,279. ?? 41,916.27 42,270,60 44 2,653.00 ?53.P6 2,209.111 39,617.13 ?9,13 2.179 45 2,653.nn 33 ?.04 2, ?19.96 37,297.17 37,575.0° 46 2,653.00 ?12.23 2,3110.77 ?11,056,40 ?5,199,57 117 2,653.00 291,41 2,361.59 3 11),5911,81 ;2,605.55 48 2,653,00 270.60 2, ?82_.40 30, ?12...41 30, ?9 ?.05 49 2,6:53.00 249.79 2,403.22 27,Pn9.19 27,96 ?.nU 50 2,653.00 ?2P..97 2, 424. 03 251,85.16 25,512.511 51 2,6,53,00 ?08.15 2,444.8.5 2 2,940.31 2,,044.5? 52 2,653.00 187.34 2,465.66 20,474.65 20,550.02 5? 2,653.no 166,r-2 2,1186.4R 17,988.17 18,053.02 54 2,653.00 145.71 2,507,29 15,u8n.PR 15,529.51 55 2,653.00 124,P9 2,528.11 12,952.77 12,987.51 56 2,653.00 1011.08 2,548.92 10, 4n ?. P5 10,1127.n1 57 2,653.00 ;;^ . "6 ;�,1,(��l 11 .I 1I1, I I i II�IlI ►I1 58 2,053.00 62.45 ,'i 2,590.55 , 5,2.4 "?..55 , . l 5,250,50 50 2,65 ?,00 u1.63 2,611.;7 1 SAMPLE OPINION OF COUfoEL Colorado National Leasing, Inc. 14142 Denver West Parkway Bldg. 51, Suite 150 Golden, Colorado 80401 Re: Equipment Lease Agreement Gentlemen: We have acted as counsel to in connection with the execution and delivery of an Equipment Lease Agreement, including the Equipment Lease Schedules, Exhibits and Certificates attached thereto, dated 198_, between Colorado National Leasing, Inc., a Colorado cor- poration, and pursuant to which has agreed to lease the equipment referred to in the Equipment Lease Agreement on the terms therein contained. In rendering this opinion, we have examined copies of the Equipment Lease Agreement, and the Equipment Lease Schedules as well as such other documents, records, certificates and legal matters as we have deemed relevant and necessary as a basis for our opinion hereinafter set forth. Based on the foregoing, it is our opinion that: 1• has all requisite power and authority to lease the property which is the subject of the Equipment Lease Agreement and has all requisite power and authority to enter into such Equipment Lease Agreement, each Equipment Lease- Schedule and the Certificate of Acceptance attached thereto. 2. The Equipment Lease Agreement and each Equipment Lease Schedule has been duly authorized, executed and delivered by and constitute the legal, valid and binding obligations of , enforceable against terms. in accordance with their respective 3. The execution, delivery and performance by of the Equipment Lease Agreement, each Equipment Lease Schedule—'and the Certificate of Acceptance will not violate or contravene any provision of the existing Colorado or federal law or any order of any'bourt or governmental agency having jurisdiction, the Charter, or any mortgage, indenture, security agreement or other instrument to which perty, is bound. is a party or by which it, or any of its pro- Very truly yours, September 24, 1982 To: Richard D. Blodgett, Town Manager From: William D. James, Finance Director Subject: Purchase of Oshkosh Please find attached the purchase order for the new "Oshkosh" at a total cost of $121,088.12. This purchase was authorized by Council on September 14, 1982 with the provision we keep them informed as to the purchase price and financinq. Financing has not been completed as of this date. We have con- tacted a couple of leasing firms, who have quoted a financing rate of close to 150. Amortizing $121,088.12 over five years at 15 %, our monthly cost would be approximately $2,810. I would suggest that we continue to check with leasing companies and Denver East Machinery Company in an effort to reduce the interest rate and the overall cost of the equipment. We will follow -up on this matter for the next Council meeting on October 12, 1982. MMIMMN� G� EL iz Clq CJ Co -P CD 4 P 1w, •N ;j r4 0 r6 Ia cl r-4 0 0 4J' 44 rcl o 1 9 1 . r� r P_ o a rd f:q u U. -P0 C 0 rc 6 t:l a C�l T ul EQ C-4. 0 WI ,14 ol LL r CN 0 P41 0: Lid (N CN (,j O j co C Iw- z 0 Z ■ Ci ell I I •u. Ea ❑ > IL In > Q4 7. d U r (d 4S CC) 4. c CK: o U I r -4 iz Clq CJ Co -P CD 4 P 1w, •N ;j r4 0 r6 Ia cl r-4 0 0 4J' 44 rcl o 1 9 1 . r� r P_ o a rd f:q u U. -P0 C 0 rc 6 t:l a C�l T ul EQ C-4. 0 WI ,14 ol LL r CN 0 P41 0: Lid (N CN (,j O j co C Iw- z 0 Z ■ x HIE CE IVED DEC 23'1 2 11131111: DENVER EAST MACHINERY COMPANY 15507 EAST 18TH AVE. • AURORA, COLORADO 80011 • 303/341 -2020 December 21, 1982 Town of Avon P.O. Box 975 Avon, Colorado 81620 Gentlmen: We are enclosing a letter regarding excise tax on inner tubes and tires, which we ask that you please sign and return to us as soon as possible, in the self- addressed stamped envelope we have furnished. Thank you for your cooperation Sincerely, DENVER EAST MACHINERY COMP Allen J. Pickrell Assistant Administrator to the Sales Administrator INDUSTRIAL, CONSTRUCTION & MINING MACHINERY EXEMPTION CERTIFICATE For use by States, Territories, or political subdivisions thereof, or the District of Columbia. January 12 19 83 ( Date) The undersigned hereby certifies that he is Finance Director of Town of Avon, Colorado (Title of Of fic,er} ,(State, Territory, or political subdivision, or District of Columbia) and that he is authorized to execute this certificate and that the article or. articles specified in the accompanying order or on the reverse side hereof, are purchased from Denver East Marhinery rn..15507 E. 18th Ave., Aurora, CO 80011 for the exclusive use of (Name, of Company) Town of Avon ( Governmental Unit) of Col ora to (State, Territory, or political subdivision, or District of Columbia) It is understood that the exemption from tax in the case of sales of articles under this exemption certificate to the States, Territories, etc. , is limited to the sale of articles purchased for their exclusive use, and it is agreed that if articles purchased tax -free under this exemption cert- icate are used otherwise or are sold to employees or others, such fact must be reported to the manufacturer of the article or articles covered by this certificate. It is also understood that the fraudulent use of this certificate to secure exemption will subject the undersigned and all guilty parties to a fine of not more than $10, 000 or to imprisonment for not more than five years, or both, together with costs of prosecution. ( re) Finance Director This certificate is given for the purchase tax -free of (1 ) One ( Quantity) OTC,Inv. MO. 19742 FSO 2670 ( Title of Officer) OSHKOSH Truck, Model P- 232.7 -2 (44) (Article) Serial No. 10T 2C3BC3D1020831 Engine No. NTC300 11077619 AC - 36