1987 5 AMC Eagle Wagons leasey
'E
July 3, 1990
OWM
BAN/C_ DNB
�j
6 (� BANC ONE LEASING CORPORATION
First Municipal Division
857 Grant Street
i Denver, Colorado 80203
TOWN OF �40� 303 861 -9111
Fax No. 303 861 -1169
Town of Avon
Box 975
Avon, CO 81620
RE: Lease Code 163701, 5 Police Vehicles
Dear Sir /Madam:
Enclosed you will find a Bill of Sale evidencing payment in full in connection with the subject
Agreement.
We appreciate the opportunity of having provided our financing services to you and hope you will call
upon us again should you have any future financing requirement. If you have any questions or need
any additional Information, please let me know.
Sincerely,
FIRST MUNICIPAL DIVISION -
BANC ONE LEASING CORPORATION
0:-,-� L R�,,—,
Nita Troutman
Administrative Assistant
/nt
Enclosure
BILL OF SALE
KNOW ALL MEN BY THESE PRESENTS, that First Municipal Division - Banc One Leasing Corporation, an
Ohio corporation, 857 Grant Street, Denver, Colorado 80203, of the County of Denver, in the State of Colorado, of the
first part, for and in consideration of One Dollar ($1.00) and other good and valuable consideration to it in hand paid
at or before the ensealing or delivery of these presents by Town of Avon, County of Eagle, in the State of Colorado,
of the second part, the receipt whereof is hereby acknowledged, has bargained and sold, and by these presents does
grant and convey unto the said party of the second part, its successors or assigns, the following property, goods and
chattels, to wit:
See Exhibit A to Delivery Order No. One, attached 'hereto and made a part hereof.
located at: Town of Avon, Colorado
TO HAVE AND TO HOLD the same unto the said party of the second part, its successors or assigns,
forever. And the said party of the first part, for itself, its administrators, successors or assigns, covenants and agrees
to and with the said party of the second part, its successors or assigns, to WARRANT and DEFEND the sale of said
property, goods and chattels, hereby made unto the said party of the second part, its successors or assigns against
all and every person or persons whomsoever.
IN WITNESS WHEREOF, the part of the first part has hereunto set its hand and seal, this July 3, 1990. 1
Attest:
13) f/+�-v--Q,\Z�-4 /,\ -, � <� -
Cynt1hia L Frilot
STATE OF COLORADO )
) ss.
County of Denver )
FIRST MUNICIPAL DIVISION -
BANC ONE LEASING CORPORATION
By: 4X2 —
L. Robert Bauers
Executive Vice President
The foregoing instrument was acknowledged before me this July 3, 1990, by L. Robert Bauers as Executive
Vice President of First Municipal Division - Banc One Leasing Corporation.
My commission expires 06/01/91.
Witness my hand and official Seal.
Barbara L. White
Notary Public
EXHIBrr A
TO DELIVERY ORDER NO. ONE
EQUIPMENT DESCRIPTION
Description of Equipment:
Five (5) 1987 AMC Eagle Sport Wagons equipped with:
Sport wagon package
Cold climate group
Suspension package
Skid plates
Rear wiper washer
AM /FM radio
Gauge package
Convenience group
Serial Numbers:
Serial Number (if any)*
2CCCK3851HB702349, 2CCCK385XHB702351, 2CCCK3857HB702355
2CCCK3853HB702353, 2CCCK3850HB702357
*To be added when available
Description of Financed Amount:
Cost of above Equipment
Cost of related charges:
Transportation
Physical modifications (specify)
Other (specify)
Add: Sales or other tax, if applicable
Less: Down payment, if applicable
Net Financed Amount
COL : Avo n
- 10 -
$57,361.75
$
$57,361.75
TO DELIVERY ORDER NO. ONE
EQIIIPMENT DESCRIPTION
Description of Equipment:
Five (5) 1987 AMC Eagle Sport Wagons equipped with:
Sport wagon package
Cold climate group
Suspension package
Skid plates
Rear wiper washer
AM/FM radio
Gauge package
Convenience group
Serial Numbers:
Serial Number (if any)*
2CCCK3851HB702349, 2CCCK385XHB702351, 2CCCK3857HB702355
2CCCK3853HB702353, 2CCCK3850HB702357
*To be added when available
Description of Financed Amount:
Cast of above Equipment
Cost of related charges:
Transportation
Physical modifications (specify)
Other (specify)
Add: Sales or other tax, if applicable
Less: Down payment, if applicable
Net Financed Amount
COL:Avon
- 10 -
$57,361.75
$
$
$
$57,361.75
i
EXHIBIT A
TO DELIVERY ORDER NO. ONE
EQUIPMENT DESCRIPTION
Description of Equipment:
Five (5) 1987 AMC Eagle Sport Wagons equipped with:
Sport wagon package
Cold climate group
Suspension package
Skid plates
Rear wiper washer
AM/FM radio
Gauge package
Convenience group
Serial Numbers:
Serial Number (if any)*
2CCCK3851HB702349, 2CCCK385XHB702351, 2CCCK3857HB702355
2CCCK3853HB702353, 2CCCK3850HB702357
*To be added when available
Description of Financed Amount:
Cost of above Equipment
Cost of related charges:
Transportation
Physical modifications (specify)
Other (specify)
Add: Sales or other tax, if applicable
Less: Down payment, if applicable
Net Financed Amount
COL : Avo n
- 10 -
$57,361.75
$
$
$
$57,361.75
c
857 Grant Street
Denver, Colorado 80203
303/861 -9111
1- 800 -621 -9454
February 25, 1987
Mr. William James
Town Manager
Town of Avon
P.O. Box 975
Avon, Colorado 81620
RE: Lease Purchase Agreement for AMC Police wagons
Dear Bill:
FIRST
MUNICIPAL
LEASING
CORPORATION
Enclosed is a completely executed copy of the above referenced Agreement. Thank you
for your completeness in executing the required documentation and returning it to our
office on such a timely basis. All documents appear to be in order and we have received
evidence of insurance from your insurance carrier. The Town will have forty -seven (47)
remaining payments and upon receipt of the final lease payment, unencumbered title to
the equipment will vest in the Town of Avon. All future invoices will be provided thirty
(30) days prior to due date.
It was a pleasure to meet with both you and Steve last week, and we certainly look
forward to the opportunity of providing our financial services again in the future. After
receipt from Bob Bundy of the invoice and MSO's, we will continue to process the
transaction and anticipate payment by March 6th. We look forward to working with you
again in the future.
Sincerely,
FIRST MUNICIPAL LEASING CORPORATION
L X�'
Chris R. 4ngs
Assistant Vice President
CRY:blw
Enclosure
FIRST MUNICIPAL LEASING CORPORATION
857 Grant Street
Denver, Colorado 80203
SELLER
AGREEMENT
NAME AND ADDRESS OF BUYER: Town of Avon
P.O. Box 975
Avon, CO 81620
FIRST MUNICIPAL LEASING CORPORATION (Seller), upon the terms and
conditions contained herein, purchases from the specified vendor or manufacturer, the
property now or hereafter described on behalf of Buyer on Exhibit A to one or more
Delivery Orders attached hereto (the Equipment), and simultaneously hereby conveys
title to the Equipment to the Buyer for and in consideration of the terms and conditions
contained herein.
AGREEMENT TERM. This Agreement shall be effective as of the date of
execution and shall continue in effect until all Payments specified in each Delivery Order
and all other amounts owed by the Buyer hereunder have been paid or until such earlier
date on which this Agreement is terminated in accordance with its terms. The
Agreement Term of each Delivery Order shall terminate when all Payments provided on
Exhibit B of the Delivery Order have been paid.
PAYMENTS. The Payments under each Delivery Order shall commence as of
the date of acceptance of the Equipment described therein by the Buyer as evidenced by
return of a Receipt Certificate (Exhibit C to each Delivery Order). A portion of each
Payment is paid as and represents payment of interest and Exhibit B of the Delivery
Order sets forth the interest component of each Payment. All Payments shall be made
payable to the Seller or Seller's assignee at the address designated on periodic invoices
submitted for payment hereunder.
Notwithstanding any dispute between Buyer and Seller, Buyer shall make all payments
when due and shall not withhold any payments or portions thereof pending final resolution
of such dispute. Buyer hereby covenants it will not assert any right of setoff or
counterclaim against its obligation to make the payments provided for and that it will
take such action as is necessary under the laws applicable to Buyer to budget for, seek
appropriation for, and include and maintain funds sufficient and available to discharge its
obligations to meet all Payments due during the Agreement Term pursuant to provisions
of this Agreement.
TERMINATION OPTION. Buyer shall have the option to terminate payment
for the Equipment described in any Delivery Order on specified Payment dates upon
payment of an amount equal to the Termination Value on such date as set forth on
Exhibit B of the Delivery Order. Buyer shall give notice of its intention to exercise its
purchase option at least thirty (30) days prior to the date upon which such right will be
exercised.
COL:Avon
- 1 -
ASSIGNABILITY. Seller may assign its right and interest in and to this
Agreement, the Payments and Equipment, and its assignee shall have full benefit of all
the covenants made by Buyer and all rights and remedies of Seller contained herein;
provided that no such assignment shall be effective as against Buyer unless and until
Buyer receives a copy of the assignment or written notice thereof stating the name and
address of the assignee and its taxpayer identification number. Buyer shall acknowledge
any assignment so made upon request by Seller. During the Agreement Term, Buyer shall
keep a complete and accurate record of all assignments of which it is given notice in
form necessary to comply with Section 103 (j) of the Internal Revenue Code of 1954, as
amended, and the U.S. Treasury Regulations, existing or proposed, from time to time
promulgated thereunder. Buyer shall not have the right to assign its rights, duties and
obligations under this Agreement either in part or in whole without prior written consent
of Seller or its assignee.
BILLING INSTRUCTIONS. Buyer requests that Seller or its assignee send its
invoices for payment as set forth in each Delivery Order attached hereto.
COVENANTS OF BUYER. Buyer represents, covenants and warrants that it is
a public body corporate and politic and is authorized by the constitution and laws of the
State where it is located to enter into this Agreement and to carry out its obligations
hereunder. Buyer has duly authorized the execution and delivery of this Agreement, and
agrees that it will do or cause to be done all things necessary to preserve and keep it in
full force and effect. Buyer further represents, covenants and warrants that all
procedures have been met so that this Agreement is enforceable, that Buyer has
sufficient appropriations or other funds available to pay all amounts due hereunder for its
current fiscal year, and that Buyer has complied with all bidding requirements where
necessary.
SECURITY AGREEMENT. To secure the payment of Payments due under each
Delivery Order, and any and all liabilities, direct, indirect, absolute, contingent, due or
to become due now existing or hereafter arising of the Buyer to the Seller, the
undersigned Buyer grants to the Seller as the Secured Party a security interest in and to
all Equipment described in the Delivery Order, together with all additions, attachments,
accessions, substitutions and proceeds with respect thereto. Buyer agrees, if requested
by Seller or its assignee, to execute and deliver to Seller or its assignee financing
statements or other similar instruments furnished by Seller or its assignee.
LIENS. Buyer shall not directly or indirectly, create, incur, assume or suffer
to exist any mortgage, pledge, lien, charge, encumbrance or claim in or with respect to
the Equipment, except with respect to the respective rights of Seller and Buyer as herein
provided. Buyer shall promptly, at its own expense, take such actions as may be
necessary to duly discharge any such mortgage, pledge, lien, charge, encumbrance or
claim not excepted above if the same shall arise at any time.
TITLE TO EQUIPMENT. Title to the Equipment and any and all additions,
repairs, replacements or modifications thereto shall be in the name of Buyer and Seller
shall have no right, title or interest in the Equipment or any additions, repairs,
replacements or modifications thereto except as expressly set forth in this Agreement.
NOTICES. All notices to be given under this Agreement shall be made in
writing and mailed to the other party by registered mail at its address set forth herein or
at such address as the party may provide in writing from time to time. Any such notice
shall be deemed to have been received two days subsequent to mailing.
COL : Avo n
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MISCELLANEOUS. The waiver by Seller of Buyer's breach of any term,
covenant or condition hereof shall not be a waiver of any subsequent breach of the same
or any other term, covenant or condition. This Agreement, together with the Delivery
Orders and Exhibits hereto, constitutes the entire agreement between the parties and
shall not be modified, amended, altered or changed except in writing. This Agreement
shall be governed by the laws of the State where the Equipment is located and any
provision of this Agreement found to be prohibited by law shall be ineffective to the
extent of such prohibition without invalidating the remainder of this Agreement.
Buyer shall deliver to Seller an opinion of its counsel addressed to Seller in
substantially the form attached.
NONAPPROPRIATION. It is Buyer's intent to pay Payments for the full
Agreement Term as scheduled on Exhibit B of each Delivery Order and in this regard
Buyer represents that the use of the Equipment is essential to its operations and that the
functions performed by the Equipment will not be transferred to other equipment. The
essential uses of and anticipated funding sources for Equipment described in each
Delivery Order are described by buyer on Exhibit D of the Delivery Order. However, if
the Buyer is not allotted funds for any successive fiscal period to continue paying the
scheduled payments for the Equipment described in any Delivery Order and it has no
funds for such payment from other sources, Buyer may terminate this Agreement with
respect to such Equipment at the end of the then current fiscal period, and Buyer shall
not, in this sole event, be obligated to make any Payments with respect to such
Equipment beyond the end of the then current fiscal period, in which event Seller shall
have and may exercise all rights of a secured party to take possession of the Equipment.
If the provisions of the previous paragraph are utilized by Buyer, Buyer agrees
not to purchase, lease or rent equipment performing functions similar to those performed
by the Equipment, and agrees not to permit functions similar to those performed through
the use of the Equipment to be performed by its own employees or by any agency or
entity affiliated with or hired by Buyer for a period to include the remainder of the then
current fiscal period plus the next succeeding fiscal period; provided, however, that these
restrictions shall not be applicable in the event the Equipment shall be sold by Seller and
Buyer shall pay to Seller an amount equal to (i) the then applicable termination value, (ii)
less the net amount received by Seller or its assignee from the sale of the Equipment.
Should the net amount received from such sale exceed the then applicable termination
value, Seller will refund such excess amount to Buyer.
CARE AND USE OF EQUIPMENT. Buyer, at its own cost and expense, shall
maintain the Equipment in good operating condition, repair and appearance, and protect
same from deterioration other than normal wear and tear; shall use the Equipment in the
regular course of its business only, within its normal capacity, without abuse, and in a
manner contemplated by the manufacturer thereof; shall not make modifications,
alterations or additions to the Equipment (other than normal operating accessories or
controls) without the written consent of Seller, which shall not be unreasonably withheld;
shall not so affix the Equipment to realty so as to change its nature to real property, and
agrees that the Equipment shall remain personal property at all times regardless of how
attached or installed; and shall keep the Equipment on the premises where delivered and
shall not remove the Equipment without the written consent of Seller, which shall not be
unreasonably withheld. All modification, repairs, alterations, additions, replacements,
substitutions, operating accessories and controls shall accrue to the Equipment and
become the property of the Seller. Seller shall have the right during normal hours, to
enter upon the premises where the Equipment is located in order to inspect, observe or
COL:Avon
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otherwise protect Seller's interest and Buyer shall cooperate in affording Seller the
opportunity to do same. For the purpose of assuring Seller that the Equipment will be
properly serviced, Buyer agrees to cause the Equipment to be maintained pursuant to the
manufacturer's standard preventive maintenance contract and /or recommendations.
Buyer agrees that Seller shall not be responsible for any loss or damage whatsoever to
the Equipment, nor shall Seller be responsible for latent defects, wear and tear or
gradual deterioration or loss of service or use of the Equipment or any part thereof.
Seller shall not be liable to Buyer or anyone else for any liability, claim, loss, damage or
expense of any kind or nature caused directly or indirectly by the inadequacy of the
Equipment or any item supplied by the vendor or any other party, any interruption of use
or loss of service or use or performance of any equipment, any loss of business or other
consequence or damage, whether or not resulting from any of the foregoing.
NET AGREEMENT. Buyer intends the payments in this Agreement to be net
to the Seller. Buyer shall comply with all laws and shall pay all taxes, if any, including
but not limited to sales and use taxes, excise taxes, freight and transportation charges,
permits and any similar charges imposed on the ownership, possession, or use of the
Equipment during the term of this Agreement or on the Payments. Buyer shall obtain
necessary gas, water, steam, electricity, light, heat or power, telephone or other utility
service used on or in connection with the Equipment and shall pay all charges, including
installation, for such services during the Agreement Term. Buyer shall pay to Seller all
costs and expenses including attorney's fees, storage, caretaking and repossession
expenses in connection with the enforcement of Seller's rights under this Agreement. In
case any charges, costs, taxes or expenses required to be paid by the Buyer under this
Agreement shall remain unpaid after the due date thereof, the Seller shall have the right
but shall not be obligated to pay the same and to charge such payments to Buyer with
interest at the highest legal rate from the date of said payment, as additional payments,
to be paid with the next Buyer Payment.
BUYER'S RESPONSIBILITIES Buyer shall and does hereby agree to pay or
reimburse to Seller any and all claims, damages, costs and expenses incurred by Seller
arising out of or in connection with the ownership, selection, possession, leasing, renting
operating, control, use, maintenance, delivery and /or return of the Equipment, including
but not limited to, those based on personal injury, property damage and /or death, but
shall be credited with any amounts received by the Seller with respect thereto from
liability insurance provided by Buyer. Said costs and expenses shall include attorney's
fees incurred by Seller in connection with any suits or actions resulting from any such
liability.
WARRANTIES BY THIS AGREEMENT. SELLER MAKES NO WARRANTY OR
REPRESENTATION, BY THE TERMS OF THIS AGREEMENT, EITHER EXPRESS OR
IMPLIED, AS TO THE VALUE, DESIGN, CONDITION, MERCHANTABILITY, FITNESS
FOR PARTICULAR PURPOSE OR FITNESS FOR USE OF ANY OF THE EQUIPMENT OR
AS TO ITS TITLE THERETO OR ANY OTHER REPRESENTATION OR WARRANTY
WITH RESPECT TO THE EQUIPMENT. Seller hereby assigns to Buyer for and during the
Agreement Term all manufacturer's warranties or guaranties, express or implied, issued
on or applicable to the Equipment and Seller authorizes Buyer to obtain the customary
services furnished in connection with such warranties or guaranties at Buyer's expense.
Buyer acknowledges that the Equipment has been purchased by Seller in accordance with
Buyer's specifications and from a vendor selected by Buyer; that Seller is not a
manufacturer of or dealer of such Equipment and takes no part in or responsibility for
the installation of the Equipment, and that Seller has made no representation or warranty
and assumes no obligation with respect to the merchantability, condition, quality or
COL :Avon
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fitness of the Equipment or the enforcement of the manufacturer's warranties or
guaranties.
ENJOYMENT OF EQUIPMENT. Seller hereby covenants to provide Buyer
during the Agreement Term with quiet use and enjoyment of the Equipment, without suit,
trouble or hindrance from Seller except as expressly set forth in this Agreement. Any
assignee of Seller shall not interfere with such quiet use and enjoyment during the
Agreement Term so long as Buyer is not in default pursuant to this Agreement.
EVENTS OF DEFAULT AND REMEDIES. Buyer shall be deemed to be in
default hereunder upon the happening of any of the following events of default: (a) Buyer
shall fail to make any Payment, or to pay any other payments required to be paid
hereunder, or (b) Buyer shall fail to keep any such other term, covenant or condition
contained herein. Upon the occurrence of an event of default as specified in (a) above,
or upon the occurence of an event of default as specified in (b) above which Buyer fails
to remedy with all reasonable dispatch within a period of 30 days, Seller or its assigns
shall have the right, at its option without any further demand or notice, to pursue any
one or more of the following remedies with respect to the Payments due under and the
Equipment described in each Delivery Order affected by such default: (a) by written
notice to Buyer, declare an amount equal to all Payments due during Buyer's current
fiscal period to be immediately due and payable, whereupon the same shall become
immediately due and payable; (b) re -enter and take possession of the Equipment
enforcing the Agreement or terminating the Agreement, and sell the Equipment for the
account of Buyer, and apply the net proceeds of such sale to amounts payable by Buyer
hereunder; and (c) take whatever action at law or in equity may appear necessary or
desirable to collect the Payments then due and thereafter to become due during Buyer's
current fiscal period (or Buyer's possession of the Equipment) and /or to enforce
performance and observance of any obligation, agreement or covenant of Buyer under
this Agreement.
INSURANCE. At its own expense, Buyer shall cause casualty insurance to be
carried and maintained with respect to the Equipment and shall carry public liability and
property damage insurance sufficient to protect the full value of the Equipment and to
protect Seller from liability in all events. All insurance proceeds from casualty losses
shall be payable solely to Buyer, subject to the terms of this Agreement. On acceptance
of the Equipment, Buyer shall have purchased a casualty insurance policy on the
Equipment, a copy of which will be furnished to Seller. Buyer shall carry Workmen's
Compensation insurance covering all employees working on, in, near or about the
Equipment and shall require any other person or entity working on, in, near or about the
Equipment to carry such coverage, and will furnish to Seller certificates evidencing such
coverage throughout the Agreement Term.
DAMAGE OR DESTRUCTION OF EQUIPMENT. In the event the Equipment is
partially damaged or destroyed, Buyer will promptly repair and restore the Equipment to
working order for the purpose intended. Buyer shall not be entitled to any
reimbursement for any such damage or destruction from Seller, nor shall Buyer be
entitled to any diminution of the Payment payable by it pursuant to this Agreement. In
the event the Equipment is totally damaged or destroyed, Buyer may promptly repair and
restore the Equipment to working order for the purpose intended. In the alternative,
Buyer shall have the option to terminate this Agreement upon payment of all Payments
due during the then current fiscal period plus the then applicable Termination Value
Payment.
COL :Avon
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IN WITNESS WHEREOF, Buyer has caused this Agreement to be executed by
its duly authorized officer this 24th -day of February 19 87
WITNESS OR ATTEST:
ATTEST:
By:
Secretary
OOL:Avon
Town of Avon
(Buyer)
c By: 6aUf4 `d ipll
Allan R. in ha Mayor _
Printed Name be Ti e
ACCEPTE
FIRST MU
( Seller)
r.
B :
- 6 -
D z' CO
<'---2 , 19 ?'/
NICIPAL LEA _ RPORATION
7
Presideryf ;. r
C
LAW OFFICES
COSGRIFF, DUNN & ABPLANALP
A PARTNERSHIP OF PROFESSIONAL CORPORATIONS
PETER COSGRIFF
JOHN W. DUNN
ARTHUR A. ABPLANALP, JR.
TIMOTHY H. BERRY
ALLEN C. CHRISTENSEN
LESLIE J. RANNIGER
First Municipal
857 Grant Street
Denver, Colorado
Gentlemen:
2211 N. FRONTAGE ROAD SUITE 204
P.O. BOX 2299
/AIL, COLORADO 81658
(30 3) 476 -75 52
February 24, 1987
Leasing Corporation
80203
Re: Agreement dated February 24, 1987
between Town of Avon as Buyer
and First Municipal Leasing
Corporation as Seller
IN LEADVILLE:
COSGRIFF, DUNN & BERRY
P.O. Box II
LEADVILLE, COLORADO 60461
(303) 466- 1665
As counsel for Buyer, I acknowledge that I have
reviewed the above - referenced Agreement and all necessary
proceedings taken by the Buyer to authorize and execute this
Agreement and all laws applicable to Buyer. Based upon such
review, I am of the opinion that:
(a) The Buyer is a duly constituted public
corporation and political subdivision of the State of
Colorado;
(b) The Buyer has full power and authority to
enter into the Agreement and the transactions contemplated
thereby;
(c) This Agreement has been duly authorized,
executed and delivered by Buyer and is a legal, valid and
binding contract of Buyer, enforceable against the Buyer in
accordance with its tems and conditions, and
(d) Delivery Orders for Equipment in the form
attached to the Agreement when executed by authorized
officials of the Buyer will constitute a part of this
Agreement and may be relied upon by Seller.
Yours very truly,
GR 4 DUNN
Jo W. Dunn
JWD:kem
cc: Town of Avon
& ABPLANALP
PROFESSIONAL CORPORATIONS ARE PETER COSGRIFF, P. C.AND TIMOTHY H. BERRY, P.C. IN LEADVILLE,
DUNN & ABPLANALP, P. C. IN VAIL.
DELIVERY ORDER NO. ONE
to Agreement dated February 24 . 19 87 . (Agreement) between FIRST MUNICIPAL
LEASING CORPORATION (Seller) and own of Avon (Buyer)
Delivery Order dated as of: February 24 , 19 87
THIS DELIVERY ORDER is issued pursuant to an Agreement to authorize payment for the
Equipment listed herein. All terms used herein have the meanings ascribed to them in the Agreement.
The terms and conditions of the Agreement govern this Delivery Order and shall remain. in effect so long
as this Delivery Order is in effect.
A. EQUIPMENT DESCRIPTION.
The Equipment as defined in the Agreement includes the property set forth in the attached
Exhibit A, Equipment Description.
B. PAYMENTS, TERM, TRANSPORTATION AND DELIVERY COSTS.
The Payments required under the Agreement for the Equipment designated on this Delivery
Order are $1,427.16 per month for a term of forty -eight (48) months as set forth in the attached
Exhibit B, Payment Schedule. Buyer shall pay transportation and /or delivery costs, if any, unless
set forth on Exhibit A.
C. ACCEPTANCE OF EQUIPMENT.
Notification by Buyer of the completed delivery and installation of the Equipment listed on this
Delivery Order shall be evidenced by execution of the attached Exhibit C, Receipt Certificate.
D. USES OF THE EQUIPMENT.
A description of the essential functions and services performed by the Equipment and the
funding sources used to make payment for the Equipment are as set forth in the attached Exhibit
D, Description of Essential Functions and Funding Sources.
E. FISCAL YEAR.
The Buyer's fiscal period commences on each January 1 and continues
through the following December 31
F. TERMINATION PAYMENT.
Buyer shall have the option to terminate this Delivery Order as relates to Equipment described
herein in accordance with the Agreement upon payment of the Termination Value payment set
forth in Exhibit B hereto plus the Payment then due.
G. LOCATION OF EQUIPMENT: Avon, Colorado
H. INSURANCE COVERAGE/TITLE:
Insurance requirements are as prescribed in the Agreement. Specific insurance certification
relating to the Equipment outlined in Exhibit A shall be attached hereto. Title to the Equipment
shall be in Buyer from and after its delivery to and acceptance by Buyer, subject always to
Sellers security interest therein as provided in the Agreement.
COL :Avon
- 8 -
THE TERMS GOVERNING
REFERENCED ABOVE AND APPLY
HEREIN. Buyer and Seller shall not
officers of Buyer and Seller.
`r
THIS DELIVERY ORDER ARE CONTAINED IN THE AGREEMENT
WITH THE SAME FORCE AND EFFECT AS IF SET FORTH FULLY
be bound by this Delivery Order until it is executed by authorized
DATED as of the day and year first above stated on this Delivery Order.
SELLER
First-Municipal Leasing Corporation
23
Title:
BUYER:
Town of Avon
By:
Title: Town Manager
COL : Avo n
9 -
TO DELIVERY ORDER NO. ONE
E. PMENT DESCRIPTION
Description of Equipment:
Five (5) 1987 AMC Eagle Sport Wagons equipped with:
Sport wagon package
Cold climate group
Suspension package
Skid plates
Rear wiper washer
AM /FM radio
Gauge package
Convenience group
Serial Numbers:
Serial Number (if any)*
2CCCK3851HB702349, 2CCCK385XHB702351, 2CCCK3857HB702355
2CCCK3853HB702353, 2CCCK3850HB702357
*To be added when available
Description of Financed Amount:
Cost of above Equipment
Cost of related charges:
Transportation
Physical modifications (specify)
Other (specify)
Add: Sales or other tax, if applicable
Less: Down payment, if applicable
Net Financed Amount
COL : Avo n
- 10 -
$57,361.75
$57,361.75
EXHIBIT B
PAYMENT SCHEDULE
CO- TOWN_O :._AVON __
T',-JF CAP i TAI COSTS • -57 361-7-a-
AMT CREDITED TO
TERMINATION
'MT.
DUE
PAYME I
AMT_ CREDI-TED_SIZP_ULPSED
-IAA_ OR OP=N TO
NO.
DATE
AMOUNT
TO INTEREST
OF CAPITAL COST
PURCHASE VALUE
1
'3/
1 /R7
1. 427 f A
00
1 427 16
2
4/
1/37
1,427.16
438.10
969.06
3
5/
1/87
1,427.16
430.35
996.81
4
61
1 /37
1,427- 16%
X2-55
1, Q 4 At
5
7/
1/87
1,427.16
414. 68
1, 012. 48
6
8/
1/87
1,427.16
406.75
1,020.41
7
91
1187
i 427 i
39876
1-j--02S 40
8
10/
1/87
1,427.16
390.70
1, 036. 46
9
11/
1/87
1,427.16
382.58
1,044.58
10
1/37
1,427,16-
374 40
1,052 7b
11
_121
1/
1/88
1,427.16
366.16
1,061.00
12
2/
1/88
1,427.16
357. 85
1,069.31
46, 668. 56
13 3/ 1/99
1, 427_ lb
349-A7-
1,_Q7_7_--£i9
14
4/
1139
1,427.16
341.03
1,0e6.13
15
5/
1188
1,427.16
332. 52
1,094.64
16
6/
1/98
1, 4''27, 16
---32:3-9-5-- i, 1Q3 -a1
17
7/
1/88
1,427.16
315.31
1, 111. 85
13
8/
1/88
1,427.16
306.60
1, 120. 56
19
91
i /88
t.427-16
297 82
1-129 -14
20
101
1/88
1,427.16
288.96
1,138. 18
21
11/
1/88
1,427.16
280. 06
1, 147. 10
22L2/ 1/ -s8
1, 427_L£z
P-7-1-0 8
1, 156,SZ8
23
1/
1/89
1,427.16
262.02
1, 165. 14
24
.2/
1/89
1,427.16
252.90
1,174.26
32, 086. 54
2.
3/
t/99
1, -427-16-
43-70 _1,_1.83 46
26
4/
1/89
1,427.16
234.43
1,192.73
27
5/
1/89
1,427.16
225.09
1,202.07
23
6/
1199
1, 427 16
215. 67
i,�I_L 49
29
7/
1/89
1,427.16
206.19
1,220.97
30
8/
1/89
1,427.16
L96.62
1, 230. 54
x31
9/
i /99
1. 427.16
186_3.8.
-1 - 240_18_
32
10/
1/89
1,427.16
177.27
1,249.89
33
11/
1/89
1,427.16
167.4a
1, 259. 68
12/
1/89
1, 427. lb
15' 62
1,269 54
_34
35
1/
1/90
1,427.16
147.67
1,279.49
36
2/
1/90
1,427.16
137.65
1,289.51
16, 551. 14
i
37 31 ILSn
1, 422. 1A
127-5.5 .
1:294 A t -
38 4/
1190
1,427.16
117.37
1,309.79
39 5/
1/90
1,427.16
107. 11
1, 320. 05
40 6/1/90
1:427 -1.6
96.__71
1- 330.34.
41 7/
1/90
1,427.16
86.35
1,340.81
42 8/
1/90
1,427.16
75.85
1, 351. 31
43x/
t /90
1, 427 IA
_�x5.s7
-361 R9 ,
44 10/
1/90
1,427.16
54.60
1,372.56
45 11/
1/90
1,427.16
43.85
1, 383. 31
46__121
1/90
1, 427. 16
33- O2
_i, 394. 14
47 1/
1/91
1,427.16
22.10
1,405.06
48 2/
1/91
1, 427. 16
11. 10
- - - --
1,416.06 .00
-- -
- - - -- ---------
- - - - -- ---
-
11, 141. 93
57, 361.75
* TOTALS
* *
68, 503. 68
CO -TOWN OF AVON
BY `f/j ✓ /i�
-END-
EXHIBIT C
TO DELIVERY ORDER NO. ONE
RECEIPT CERTIFICATE
The undersigned Buyer under that certain Agreement dated February 24 19 8
negotiated for the purpose of acquiring Equipment with First Municipal Leasing
Corporation as Seller, hereby acknowledges receipt in good condition of all of the
Equipment described on Exhibit A to Delivery Order No. One to said Agreement
this 24th day of February 19 87 , and hereby certifies that the
Equipment has been installed and is performing satisfactorily and in accordance with
specifications.
Further, Buyer hereby confirms that it will commence Payments for the Equipment
as specified in Exhibit B to Delivery Order No. One with the first payment being due on
March 1, 1987.
Including the Agreement herein so designated, Buyer will not issue more than
$10,000,000 of obligations during the current fiscal year as qualified tax - exempt
obligations.
COL:Avon
Town of Avon
(Buyer)
By;
Title: Town Manager
Dated: February 24 , 19 87
- 12 -
0
EXHIBIT D
TO DELIVERY ORDER NO. ONE
STATEMENT OF ESSENTIAL USE /SOURCE OF FUNDS
BETWEEN
FIRST MUNICIPAL LEASING CORPORATION
AND
TOWN OF AVON
Dated February 24, 1987
The above referenced contract is to provide financing for the purchase of equipment
rather than for the short -term rental of equipment. For this reason, periodic payment
amounts are calculated to amortize the full cost of the equipment over the agreed
payment term. Because we do not consider your repayment commitment to be a debt
obligation, as that term would be defined by State constitution or regulations, the
contract includes a non - appropriation clause and is subject to funds being encumbered for
repayment on an annual or bi- annual basis. This non - appropriation clause provides some
risk that the equipment will be returned during the life of the contract rather than being
paid in full.
As evidence of your intent to retain the equipment throughout the scheduled term, we
need a description your understanding of the essential governmental use intended for the
equipment, together with an understanding of the sources from which payments will be
made. To satisfy this requirement, please address the following points either by
completing this form or sending a separate letter:
1. What is the specific use of this equipment? Police Vehicles.
What increased capabilities will it provide? These vehicles will replace
five (5) older vehicles.
2. Why is the equipment gssential, to the QperatioR Of . our forganizatipn? The new police
yeRicles wi l be utilized in prove ing pu i sa e�ryy services to the Town of
AV04' in accordance with Town charter.
3. Does the equipment replace existing equipment? Yes.
If so, why is the replacement being made? Three (3) 1983 Dodge Diplomats Two (2)
1981 Chrysler Le Barons are being replaced because of mileage and condition.
4. Why did you choose this specific equipment or system configuration? On site
testing of various vehicles and specific needs of the community.
5. What is your estimate of the useful life of the equipment to your operations?
Four (4) years.
6. What is the expected source of funds for payments due under the Agreement
for the current fiscal and future fiscal years? Funds are budgeted for the police
vehicles in the General Fund; further subtitled: Police Department, Public
Safety Division, Line Item 43910, Machinery /Equipment Rental.
Town of Avon
( "Buyer ")
Title: Town 11 nager
COL : Avo n
- 13 -
�i
CERTIFICATE WITH RESPECT TO QUALIFIED
TAX - EXEMPT OBLIGATIONS
I, the Town Manager of the Town of Avon ( "Lessee "), am duly
charged with the authority for executing that certain Agreement dated as
of February 24 , 19 87 (the "Agreement ") by and between Lessee and First
Municipal Leasing Corporation and do hereby certify as follows:
1. This Certificate with respect to Qualified Tax - Exempt Obligations (the
"Certificate ") is executed for the purpose of establishing that the Agreement has been
designated by Lessee as a qualified tax - exempt obligation of Lessee for purposes of
Section 265 (b) (3) of the Internal Revenue Code of 1986 (the "Code ").
2. Lessee is a political subdivision of the State of Colorado.
3. The Agreement is being issued in calendar year 1987.
4. No portion of the gross proceeds of the Agreement will be used to make or
finance loans to persons other than government units or be used in any trade or business
carried on by any person other than a governmental unit, and no portion of the payment
of principal of, or interest on, the Agreement is directly or indirectly (i) secured by any
interest in property used or to be used for a private business use, or payments in respect
of such property, or (ii) to be derived from payments (whether or not to the Lessee) in
respect of property, or borrowed money, used or to be used for a private business use.
5. Lessee has designated the Agreement as a qualified tax - exempt obligation for
purposes of Section 265 (b) (3) of the Code, pursuant to Ordinance 87 -2
by Town of Avon Counc�lthe governing body of Lessee, on February , 19ad8 .
6. Including the Agreement herein so designated, Lessee has not designated more
than $10,000,000 of obligations issued during calendar year 1987 as qualified tax - exempt
obligations.
7. Lessee reasonably anticipates that the total amount of tax- exempt obligations
(other than private activity bonds) to be issued by Lessee and all subordinate entities of
Lessee during calendar year 1987 will not exceed $10,000,000.
8. This Certificate is based on facts and circumstances in existence on this date.
IN WITNESS WHEREOF, I have set my hand this -V !day of ,
192 ,
B Y • - ��'�_- —�
NAME:
TITLE: Town Manager
Town of Avon
LESSEE
MSC:AvonCert
EI
*:n3tx,g5t Insu
COLORADO INTERGOVERNMENTAL
RISK SHARING AGENCY (CIRSA)
950 SOUTH CHERRY STREET, #706
DENVER, CO 80222
TEL: (303) 757 -5475
(Town of Avon)
i[vb'x5nM Producer
Corroon & Black Management, Inc.
1777 S. Harrison, Suite 815
Denver, CO 80210
3UE DATE (MM /DD /YY)
2/20/87
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS
NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AMEND,
EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW.
COMPANIES AFFORDING COVERAGE
COMPANY
A
LETTER
See Attached Schedule
COMPANY
B
LETTER
OCCURRENCE
COMPANY
C
LETTER
LIABILITY
COMPREHENSIVE FORM
PREMISES /OPERATIONS
UNDERGROUND
EXPLOSION & COLLAPSE HAZARD
PRODUCTS /COMPLETED OPERATIONS
CONTRACTUAL
INDEPENDENT CONTRACTORS
BROAD FORM PROPERTY DAMAGE
PERSONAL INJURY
COMPANY
p
LETTER
INJURY
COMPANY
LETTER
THIS IS TO CERTIFY THAT POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED.
NOTWITHSTANDING ANY REQUIREMENT. TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY
BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS, AND CONDI-
TInuc nc et tru on, trmc
4 CO
LTR
TYPE OF INSURANCE
POLICY NUMBER
POLICY EFFECTIVE
DATE (MM /DD,,YY)
POLICY EXPIRATION
DATE (MMiDD^
LIABILITY LIMITS IN THOUSANDS '
OCCURRENCE
AGGREGATE
GENERAL
LIABILITY
COMPREHENSIVE FORM
PREMISES /OPERATIONS
UNDERGROUND
EXPLOSION & COLLAPSE HAZARD
PRODUCTS /COMPLETED OPERATIONS
CONTRACTUAL
INDEPENDENT CONTRACTORS
BROAD FORM PROPERTY DAMAGE
PERSONAL INJURY
INJURY
$
$
PROPERTY
DAMAGE
$
$
BI & PD
COMBINED
$
$
PERSONAL INJURY
$
}6.
��
AUTOMOBILE
LIABILITY
ANY AUTO
ALL OWNED AUTOS (PRIV. PASS I
ALL OWNED AUTOS (OTHER SSNI
HIRED AUTOS
NON -OWNED AUTOS
GARAGE LIABILITY
BODILY
INJURY
(PER PERSON)
$
4h
i
BODILY
INJURY
(PER AUIDENT,
$
PROPERTY
DAMAGE
$
BI & PD
COMBINED
a
EXCESS LIABILITY
UMBRELLA FORM
OTHER THAN UMBRELLA FORM
BI & PD
COMBINED
$
$
�.
WORKERS' COMPENSATION
AND
EMPLOYERS' LIABILITY
STATUTORY
$ (EACH ACCIDENT)
$ (DISEASE - POLICY LIMIT)
$ (DISEASE -EACH EMPLOYEE)
X
OTHER
Excess Property
See Attached Schedule
01/01/88
DESCRIPTION OF OPERATIONS /LOCATIONSiVtI lk Ltaiartt,IAL 11tMa
$51,000,000 Any one occurrence, and Annual Aggregate wherever applicable excess of exist-
ing underlying insurance. As respects lease /purchase agreement on attached schedule
„-F value: 57,361.75
LOSS Payee: SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EX-
First Municipal Leasing Corporation PIRATION DATE THEREOF, THE ISSUING COMPANY WILL ENDEAVOR TO
p MAIL (� DAYS WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE
857 Grant Street LEFT, 807 FAILURE TO MAIL SUCH NOTICE SHALL IMPOSE NO OBLIGATION OR LIABILITY
OF ANY KIND UPON THE COMPANY, ITS AGENTS OR REPRESENTATIVES.
Denver, CO 80203 A HORIZED REPRESENT
Attn: Chris Young„
INSTRUCTIONS: \i 5284 TAYLOP ST. N.E.
4612) 1.280 15421
1. PLEASE TYPE rhie term. Feld onL - on fer moiling. (612) 5] INN.
I. R -mo.e Secured Parry and Deb,or co •end orh•. 3 cope+ .�rh .n rer.•d c «bon v•per ro the Iil�ng olli c. .• lilinq fee.
If the •poc- p —d•d lo- any rrem(•1 .. nodegu4 re the �remf+l should be c ued on odd., .... I sh -•r•, ably 5 ". a. or 11". 10 ". Only o copy of such
add,rronol sheers need be presmr•d to the riling Toff,_ .irh a of rhre- copes of the I.... nq + •nr. Long .enedules o/ collo,•rol, rndenrores, n ,mar be on
any s . paver rho, a can r for the sa ur-d parry. Indicore the n"mber of add�rionol sheer• o roch -d.
�. II collererel is rap• ar good• .hick are . re o become h.rures, do_ ,be generally the real es and qi.• n of record o
5. When copy of rho _9_ry aq.e•menr ois used os a finenc,nq sra rem- .r is -,--d rho, 'rrbe ace mpenaedf 6, a compl —d bur ... ign•d •er of The+- I—, .i rhour
a 1•e.
6. Arrrh• ri of original hlinq, li ling olficn should rerurn Third copy a• an - clrno.ledgmenr. Ar o layer rim -, secured parry may do,. and sign T•rmino.... L -geed and u+e
Third copy e - T•rmrnorion Sr- r.m•n,.
This FINANCING STATEMENT is presented to a filing officer for filing pursuant to the Uniform Commercial Code: 3. Maturity date (if any):
1. Debtor(s) (Last Name First) and address(es) 2. Secured Party(ies) and oddress(es) For Filing Officer (Date, Time, Number,
and Filing Office)
Town of Avon
P.O. Box 975
Avon, CO 81620
First Municipal Leasing Corporation
857 Grant Street
Denver, Colorado 80203
4. This financing statement covers the following types (or items) of property:
See Exhibit A, attached hereto and made a part hereof.
Assignee(s) of Secured Party
Address(es)
This statement is filed without the debtor's signature to perfect a security interest in collateral. (check QX if so)
n already subject to a security interest in another jurisdiction when it was brought into this state.
E] which is proceeds of the original collateral described above in which a security interest was perfected:
Check ❑if covered:OProceeds of Collateral are also covered. ❑Products of Collateral are also covered. No. of additional Sheets presented:
Filed with:
Town of Avon
By:
Signature s tor(s)
First Munici-al Leasing Corporation
By: -
Signature(s) cf red Part (ies)
(1) Filing Officer Copy— phabetical STANDARD FORM - FORM UCC -1.
*To be added when available
Description of Financed Amount:
Cost of above Equipment
Cost of related charges:
Transportation
Physical modifications (specify)
Other (specify)
Add: Sales or other tax, if applicable
Less: Down payment, if applicable
Net Financed Amount
COL : Avo n
J
- 10 -
$57,361.75
$
$
$57,361.75