HomeMy WebLinkAboutRES.244.04-20-1987 BILL N0. 87-58 RESOLUTION N0.
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
ENTER INTO A LEASE AGREEMENT WITH BOATMEN' S
BANK OF CAPE GIRARDEAU FOR AN AERIAL LADDER
FIRE TRUCK
BE IT ORDAINED BY THE COUNCIL OF THE CITY 0� CAPE GIRARDEAU,
MISSOURI, AS FOLLOWS :
SECTION 1 . The City Manager on behalf of the City of Cape
Girardeau, Missouri , is hereby authorized to enter into a Lease
Agreement with Boatmen' s Bank of Cape Girardeau for an aerial
ladder fire truck . A copy of said Lease Agreement is attached to
this Resolution and made a part hereof.
PASSED AND ADOPTED THIS Gr�(J(.f�(� DAY OF , 1987.
i'
rancis E. Rhodes, Mayor
ATTEST:
. ,
A vin M. Stoverin , City Clerk
LEASE AGREEMENT
THIS AGREEMENT ( "Lease" ) between Boatmen's Bank of Cape Girardeau,
( "Lessor" ) , and THE CITY OF CAPE GIRARDEAU, MISSOURI, a body
corporate and politic existing under the laws of the State of
Missouri , ( "Lessee" ) is as follows :
ARTICLE I -- LEASE OF EQUIPMENT
1 . 1 Agreement to Lease . Lessor agrees to lease to Lessee ,
and Lessee agrees to lease from Lessor , the _ equipment ( the
"Equipment " ) as more fully described in Exhibit 1 . 1 .
1 . 2 Title . During the term of this Lease , title to the
Equipment will be transferred to Lessee, subject to the retransfer
to Lessor upon termination of this Lease and the failure of Lessee
to purchase the equipment . Upon the termination of this Lease for
any reason other than Lessee ' s purchase of the Equipment, title to
the Equipment will transfer automatically to Lessor without the
need for any further action on the part of Lessor , Lessee, or any
other person ; but if any action is so required , Lessee by this
Lease appoints Lessor its irrevocable attorney-in-fact to take any
action to so transfer title to the Equipment to Lessor . Lessor at
all times will have access to the Equipment for the purpose of
inspection, alteration, and repair . In the event of transfer of
title to Lessor , Lessee shall return the Equipment to Lessor at
any destination in the State of Missouri specified by Lessor .
Upon the payment of all rent payable pursuant to Section 4. 1 for
the original term and all renewal terms , or exercise of tne option
to purchase as specified herein, title to the Equipment shall
remain in Lessee .
1 . 3 Security . To secure the payment of all of Lessee ' s
obligations to Lessor under this Lease, Lessee grants to Lessor a
security interest in the Equipment and in all additions ,
attachments, accessions, and substitutions to or for the
Equipment . Lessee agrees to execute such additional documents ,
including financing statements, affidavits, notices, and similar
instruments , in a form satisfactory to Lessor , which Lessor deems
necessary or advisable to establish and maintain its security
interest in the Equipment .
1 . 4 Lease Not a Pledge of City ' s Revenues . Nothing contained
in this Lease shall constitute a pledge of the general tax
revenues , funds or moneys of Lessee except amounts appropriated
for the purpose of making Lease payments during the current fiscal
year .
ARTICLE II -- DEFINITIONS
The following terms will have the meanings indicated below
unless the context clearly requires otherwise :
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2. 1 "Equipment" means the property described in Exhibit 1 . 1
which Lessor is leasing to Lessee .
2 . 2 "Funds" means funds of Lessee legally available and which
have been properly appropriated .
2 . 3 "Governing Body " neans the City Council or any successor
governing body of Lessee . �
2 . 4 "Lessee" means the City of Cape Girardeau , Missouri , a
body coroorate and politic existing under the Constitution of the
State of P�issouri which is leasing the Equipment from the Lessor .
2 . 5 "Lessor" means Boatmen's Bank of Cape Girardeau which is
leasing the Equipment to Lessee , and includes the assigns of the
Lessor .
2. 6 "Option to Purchase Price" means the amount which Lessee
must pay Lessor to purchase the Equipment, as determined by the
schedule set forth in Exhibit 5 . 1 .
2 . 7 "Original Term" means the period from the date of
execution and delivery of this Lease until the end of the fiscal
year of Lessee in effect at the commencer�ent date, as set forth in
Section 3. 2.
2 . 8 "Renewal Term" means all of the additional periods of one
year co-extensive with Lessee ' s fiscal year , for whicn this Lease
is effective , as set forth in Section 3 . 2 .
2 . 9 "Term" or "Term of This Lease" means the Original Term
and all Renewal Terms provided for in this Lease under Section 3. 2.
2 . 10 "vendor" means the manufacturers of the Equipment (or the
manufacturers ' agent or dealer ) .
ARTICLE III -- LEASE TERM
3. 1 Commencement . The term of this Lease shall commence as
of the date of execution and delivery of this Lease .
3. 2 Duration of Lease . This Lease will have an Original Term
and four ( 4 ) Renewal Terms . The Original Term will continue until
the end o� the fiscal year of Lessee in effect at the date of
execution and delivery of this Lease . Thereafter , unless Lessee
terminates this Lease by giving Lessor notice in writing at least
thirty ( 30) days prior to the end of the Original Term or Renewal
Term then in effect , the Lease shall be automatically renewed for
the next Renewal Term until the end of the fourth Renewal Term at
which time the Lease shall terminate . Lessee reasonably believes
that it will have a need for the Equipment for the duration of the
Original Term and all Renewal Terms provided under this Lease and
that funds will be available and appropriated to make all payments
for the Original Term and all Renewal Terms provided under this
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Lease . If funds to continue the leasing of the F,quipment for any
ensuing Renewal Term are not legally available for such purpose ,
Lessee may terminate this Lease at the end of the Original Term or
Renewal Term then in effect without penalty .
Lessee will notify Lessor at least thirty ( 30 ) days prior to
the expiration of the Original or any Renewal Term if funds are
not available for the payments required under this Lease by reason
of nonaporonriation or nonavailability of funds as set forth above .
Lessor and Lessee understand and intend that the obligations
of Lessee to pay rentals under the Lease shall constitute only a
current expense of Lessee and shall not in any way be construed to
be a debt of Lessee in contravention of any applicable
constitutional , charter or statutory requirements concerning the
creation of_ indebtedness by Lessee .
3. 3 Non-Substitution of Equipment in the Event of Certain
Terminations . To the maximum extent permitted by law, if this
Lease is terminated pursuant to Section 3. 2 for any reason other
than the purchase of the Equipment by Lessee prior to the
expiration of all Renewal Terms provided in this Lease, Lessee
will not purcnase, lease, or rent equipment performing functions
similar to those performed by the Equipment until after the time
at which all Renewal Terms provided in this Lease would have
expired but for such termination , Notwithstanding the above,
these restrictions will not be applicable in the event the
Equipment is liquidated by Lessor , and Lessee pays to Lessor any
amount equal to the then applicable Option to Purchase Price
specified in Exhibit 5 . 1 , less any amount realized b� Lessor as a
result of liqui.dation of the Equipment .
3. 4 Termination . This Lease will terminate ubon the earliest
of any of the following events :
(a ) The expiration of the Original Term or any Renewal
Term of this Lease and the election of Lessee to
terminate this Lease pursuant to Section 3. 2;
(b) The exercise by Lessee of any option to purchase
granted in this Lease by which Lessee purchases all
of the Equipment ;
( c ) A default by one party and an election by tl�e other
party to terminate this Lease under Article VIII;
( d ) Upon the expiration of the last renewal term and
upon payment of all payments required to be made by
the Lessee under this Lease .
ARTICLE IV -- RENT
4 . 1 Amount . Lessee will pay Lessor as rent for the use of
the EquipmenE—payments on the dates and in the amounts set forth
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in Exhibit 4 . 1 . Lessee shall have no power to make such rent
payments from any source other than the Funds .
4. 2 Portion of Rent Attributable to Interest . The portion of
each rent payment which is paid as and is representative of
interest is set forth in Exhibit 4 . 1 .
4. 3 No Right to Withhold . Notwithstanding any dispute
between Lessor and Lessee, or Vendor and Lessee, Lessee will make
all payments of rent when due , without withholding any portion of
such rent , pending final resolution of such dispute by mutual
agreement between Lessor and Lessee or by a court of competent
jurisdiction .
ARTICLE V -- PURCHASE OF EQUIPMENT
5 . 1 �tion to Purchase Price . Lessee may purchase the
Equipment from Lessor at a price equal to the amount set forth in
Column "A" on Exhibit 5 . 1 and at the time set forth in Column "B"
on Exhibit 5 . 1 . Lessee shall have no power to make such purchase
from any source other than the Funds .
5 . 2 hianner of Exercise of Option . To exercise the option
granted in Section 5 . 1 , Lessee must deliver to Lessor written
notice of such election , specifying the date on cahich the
Equipment is to be purchased , at least thirty ( 30) days prior to
the purchase date specified in such notice .
5 . 3 Conditions of Exercise of Option . Lessee may purchase
the Equipment pursuant to the oDtion granted by SecGion 5.1 only
if Lessee has made all rent payments when due (or has re�edied any
defaults in the payment of rent , in accordance with the provisions
of tnis Lease) and if all other representations , covenants ,
warranties , and obligations of Lessee under this Lease have been
satisfied (or all breaches oF the same have been waived by Lessor
in writing ) .
ARTICLE VI -- REPRESENTATIONS , COVENANTS ,
AND WARRANTIES OF LESSEE
Lessee represents , covenants , and warrants as follows :
6 . 1 Status of Lessee . Lessee is a Municipal Corporation duly
organized and existing under the Constitution and laws of the
State of Missouri .
6 . 2 A�ithorization to Execute Lease . Lessee is authorized by
the Constitution and laws of the State of Missouri to enter into
the transactions contemplated by this Lease, and to effect all of
the Lessee 's obligations under this Lease . The City Council of
Lessee has duly authorized the execution and delivery of this
Lease. �
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6 . 3 Satisfaction of Procedures and Funding Requirements . All
procedures , including any legal bidding requirements , have been
met by Lessee prior to the execution of this Lease , and all rent
and other payment obligations will be paid only out of the Funds .
6 . 4 Preservation of Warranties and Guarantees . Lessee will
use and service the Equipment in accordance with the Vendor ' s
instructions and in such a manner as to preserve� all �aarranties
and guarantees with respect to the equipment .-
6 . 5 Representations , Covenants , Warranties , and Obligations
to be Cumulative . The repr�sentations , covenants , - warranties, and
obligations set forth in this Article are in addition to and are
not intended to limit any other representations , covenants ,
warranties , and obligations set forth in this Lease .
ARTICLE VII -- REPRESENTATIONS, COVENANTS ,
AND WARRANTIES OF LESSOR
7 . 1 Enjoyment . during the term of this Lease, Lessor will
provide Lessee with quiet use and enjoyment of the Equipment,
without suit , or hindrance from Lessor , except upon default by
Lessee, as set fortn in this Lease .
7 . 2 Disclaimer of Warranties and Status of Lessor , Etc.
Lessee has selected the Equipment and desires to lease the
Equipment for use in the performance of its lawful functions .
Lessor 's only role in the transfer of possession of the Equipment
is the facilitation of the financing of the Equipmen� by Lessor 's
agreement to purchase the Equipment and to lease the `Equipment to
Lessee . Lessor will not be liable for specific performance or for
damages if tne supnlier or manufacturer of the Equipment for any
reason fails to fill , or delays in filling, the order for the
Equipment (or similar equipment ) and does not inspect the
Equipment prior to delivery to Lessee . For the purposes of this
Lease and of any purchase of the Equipment aFfected under this
Lease, Lessor expressly disclaims any warranty with respect to the
condition, quality, durability, suitability, or merchantability of
the Equipment in any respect , and any other representation,
warranty, or covenant , exnress or implied . Lessor will not be
liable to Lessee for any liability, los� , or damage caused or
alleged to be caused directly or indirectly, by any inadequacy,
deficiency, or defect in the Equipment, or by any use of the
Equipment , whatsoever . Lessor assigns the Lessee , without
recourse, for the term of this Lease , all manufacturer warranties
and guarantees , express or implied, pertinent to the Equipment ,
and Lessor authorizes Lessee to obtain the customary services
furnished in connection with such guarantees and warranties at
Lessee ' s expense, subject to Lessee 's obligation to reassign to
Lessor all such warranties and guarantees upon Lessor ' s
repossession of the Equipment . '
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ARTICLE VIII -- DEFAULT
8-1 . Events of Lessee Default . Lessee will be in default
under this Lease upon the happening of any one or more of the
following events :
(a ) Lessee fails to make any rent payment or other
payment ( including, without limitation, insurance
premiums , taxes , utilities , fines , and fees ) when
due; or
(b ) Lessee fails to satisfy promptly any- representation,
covenant , warranty, or other obligation under this
Lease or under any other agreement between Lessor
and Lessee; or
(c ) Lessee comes within the jurisdiction of any court as
debtor under any bankruptcy, reorganization, or
similar law, whether or not such law is in existence
on the date this Lease commences .
8 . 2 Remedies on Default . To the maximum extent permitted by
la�v, upon any event of default, Lessor may in its sole discretion
pursue any one or more of the following remedies (which will be
exercisable cumulatively anc7 concurrently or separately ) , provided
notice of default is given by Lessor to Lessee by certified mail
and Lessee shall have at least thirty ( 30) days time after recei�t
of such notice within which to cure any such default specified in
Section 8 . 1 :
;
(a ) Terminate this Lease , repossess the Equipment, and
lease ( free and clear of any interest of Lessee in
the Equipment ) all or any portion of the Equipment
to such other persons as Lessor may elect, applying
the proceeds of any such lease (after deducting
Lessor 's cost of repossessing, repairing, storing,
moving, and leasing the Equipment, including
attorneys ' fees ) against any rent unpaid for the
remainder of the Original or
Renewal Term then in effect and any other amounts
owed to Lessor under this Lease (exclusive of
rent payments for any Renewal Term not then in
effect ) at the time of Lessor ' s election under
this paragraph;
(b ) Terminate this Lease , repossess the Equipment,
and sell ( free and clear of any interest of
Lessee in the Equipment ) all or any portion of
the Equipment at any public or private sale
without demand or notice of intention to sell ,
applying the proceeds of such sale (after
deducting the costs of repossessing, repairing,
storing, moving, and selling the Equipment ,
including attorneys ' fees ) against the rent
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unpaid for the remainder of the Original or
Renewal Term then in effect and any other amounts
owed� to Lessor under this Lease (exclusive of
rent payments for any Renewal Term not then in
effect ) at the time of Lessor ' s election under
this paragraph ;
(c ) Any remedy available at law or in equity.
8 . 3 Default by Lessor . Each and every duty imposed upon
Lessor by tt�e terms of this Agreement is deemed to be
naterial . In the event Lessor should fail to perform any of
the material elements of this Agreement , Lessor may be declared
in default of this Agreement . To the maximum extent permitted
py law upon any event of default , the Lessee may, in its sole
discretion, pursue any of the following remedies provided
notice of default is given by Lessee to Lessor by certified
mail and provided further that Lessor shall have at least
thirty ( 30) days time after receipt of such notice within which
to cure any such default .
(a ) Terminate the Agree�ent and seek damages ;
(b) Treat the Agreement as continuing and require
specific performance; or
(c) Avail itself of any other remedy at law or equity .
8 . 4 Attorneys ' Fees . In the event either party to this
Agreement snould incur attorneys ' fees for litigation in order to
enforce this Agreement or to protect its rights hereunder , then,
in that event , the prevailing party in such litigation shall be
entitled to reasonable attorneys ' fees .
ARTICLE IX -- f]F.T LEASE
9 . 1 Interpretation . This Lease for all purposes will be
treated as a net lease .
9 . 2 Taxes and Fees . Lessee agrees to pay all license , sales ,
use , personal property , and other taxes and fees , together with
any penalties , fines , and interest on such taxes and fees imposed
or levied with respect to the Equipment and the ownership,
delivery, lease , possession , use , operation , sale , and other
disposition of the Equipment , and upon the rental or earnings
arising from any such disposition , except any Federal or State
income taxes payable by Lessor on such rental or earnings . Lessee
may in good faith and by appropriate proceedings contest any such
taxes and fees so long as such proceedings do not involve any
danger of sale , forfeiture, or loss of the Equipment or of any
interest in the Equipment .
9 . 3 Permits . Lessee will provide all permits and licenses
necessary�or the installation , operation , and use of the
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Equipment . Lessee will comply with all laws , rules , regulations ,
and ordinances applicable to the installation , use, possession,
and operation of the Equipment . If compliance with any law, rule ,
regulation , ordinance , permit , or license requires changes or
additions to be made to the Equipment , such changes or additions
will be made by Lessee at its own expense .
9 . 4 Acce tance Certificate . In the event that an Acceptance
CertiEicate in the form set out on Exhibit 9 . 5 , attached hereto
and by tnis reference made a part hereof, is not signed and
delivered by Lessee to Lessor at the time of execution of this
Agreement , Lessee agrees to furnish such certificate no later than
six ( 6) months after such execution date . After execution and
delivery by Lessee of the Acceptance Certificate, attached as
Exhibit 9 . 5 , it shall be conclusively presumed that Lessee is
satisfied with and has accepted the Equipment as being in good
condition and repair .
ARTICLE X -- USE, REPAIRS, ALTERATIONS , AND LIENS
10 .1 Use . Lessee will nok install , use , operate, or maintain
the Equipment improperly, carelessly, in violation of any
applicable law, or in a �anner contrary to that contemplated by
this Lease . Lessee agrees that the Equipment is and at all times
will renain personal property notwithstanding that the Equipment
or any part of the Equipment may now or hereafter become affixed
in any manner to real property or to any building on real property.
10 . 2 Repairs . Lessee at its own cost will service , repair ,
and maintain the Equipment so as to keep the Equipment in as good
condition , repair , appearance , and working order as when delivered
to and accepted by Lessee under this Lease , ordinary wear and tear
excepted . At its own cost, Lessee will replace any and all parts
and devices which may from tim� to time become worn out , lost ,
stolen , destroyed, damaged beyond repair , or rendered unfit for
use for any reason whatsoever . All such replacement parts ,
mechanis-�s , and devices will be free and clear of all liens,
encumbrances, and rights of others, and immediately will become a
part of the Equipment and will be covered by this Lease (for all
purposes, including the obligation of Lessee to retransfer title
to Lessor under Section 1 . 2) to the same extent as the Equipment
originally covered by this Lease .
10 . 3 Alterations . Lessee may install such miscellaneous
equipment as may be necessary for use of the Equipment for its
intended purposes so long as either (a ) the installation of such
equipment does not alter the function or manner of operation of
the Equipment, or (b ) Lessee , upon termination of this Lease ,
restores the Equipment to its function and manner of operation .
prior to the installation of such miscellaneous equipment .
Subject to the obligations described above, Lessee may remove such .
miscellaneous equipment upon termination of this Lease , if the
removal of such miscellaneous equipment will not damage the
Equipment . Without the prior written consent of Lessor , Lessee
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will not make any other alterations , changes , modifications ,
additions , or improvements to the Equipment except those needed to
comply with Lessee ' s obligations to change , add to, or repair the
modifications, additions , and improvements made to the Equipment ,
other than miscellaneous equipment installed as set forth above .
All such alterations , changes , modifications , additions or
imorovements will immediately become a part of the Equipment and
will be covered by this Lease ( for all purposes ; including the
obligation of Lessee to retransfer title to Lessor under Section
1 . 2) to the same extent as the Equipment originally covered by
this Lease . No such alterations , changes , modifications ,
additions and improvements may impair or reduce tfie value of the _
Equipment .
10 . 4 Liens . Lessee will not directly or indirectly create ,
incur , assume, or suffer to exist any mortgage, pledge, lien,
charge , encumbrance , or claim on or with respect to the Equipment
or any interest in the Equipment , other than as permitted by
Section 1 . 3. Lessee promptly and at its own expense will take
such action as may be necessary to duly discharge any mortgage ,
pledge , lien , charge, encumbrance , or claim if the same arises at
any time , other than as permitted by Section .1 . 3.
ARTICLE XI -- INDEMNIFICATION, INSURANCE, AND DAMAGE
TO OR DESTRUCTION OF THE EQUIPMENT
11 . 1 Indemnification . Lessor assumes no liability for any
damages of any nature which in any way relate to or arise out of
ownership, delivery, lease , possession , use , operation, condition,
sale or other disposition of the Equipr�ent . �
11 . 2 Insurance . Lessee at its own cost will cause insurance
to be carried and r�aintained on individual pieces of Equipment
valued at $25, 000 or more in such an amount sufficient to cover
the value of the Equipment at the commencement of this Lease (as
determined by the purchase price paid by Lessor for the Equipment ) .
11 . 3 Damage to or Destruction of the Equipment . If all or any
part of the Equipment is lost , stolen , destroyed, or damaged,
Lessee will give Lessor prompt notice of such event and will
repair or replace the same at Lessee ' s cost within sixty ( 60) days
after such event , and any replaced Equipment will be substituted
in this Lease by appropriate endorsement . If Lessee fails or
refuses to make the required repair or replacement, Lessee will
buy out the individual piece of Equipment not repaired or
replaced, at tne next payment date (as set forth in Exhibit 5 . 1 } .
No loss , theft , destruction , or damage to the Equipment will
impose any obligation on Lessor under this Lease , and this Lease
will continue in full force and effect regardless of such loss ,
theft , destruction, or damage . Lessor does not assume any risk
and/or liability for loss , theft , destruction , or damage to the
Equipr�ent and for injuries or deaths of persons and damage to
property however arising, whether such injury or death be with
respect to agents or employees of Lessee or of third parties, and
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whether such damage to pro�erty is to Lessee ' s property or to the
property of others .
ARTICLE XII -- MISCELLANEOUS
12 . 1 Assignment and Sublease by Lessee . Lessee may not
assign , transfer , pledge , or encumber this Lease or any portion of
the Equipment (or any interest in this Lease or the Equipment ) or
sublet the Equipment, without the prior wri,tten consent of Lessor
which consent shall not be unreasonably withheld . Lessee agrees
that Lessor may impose on the Equipment such plates or other means
of identification as are necessary to indicate that the Equipment
is subject to this Lease and the restrictions set forth in this
Section .
12 . 1 Assignment and Sublease by Lessor . Lessor may freely
assign , transfer , pledge , or encumber this Lease or any interest
in this Lease . Immediately after receiving notice of such
assignment or transfer , Lessee will then make all payments
directly to the assignee or transferee (as its interests may
appear ) and , within thirty ( 30) days of such assignment or
transfer , Lessee will acknowledge the same to the assignee or
transferee. Any payments made in accordance with such assignment
or transfer will relieve Lessee of all liability to Lessor for
such payments .
12 . 3 Lessor ' s Right to Perform for Lessee. If Lessee fails to
make any payments or fails to satisfy any representation ,
covenant , warranty, or obligation , Lessor may (but need not ) make
such � paynent or satisfy such representation , covenant , warranty,
or obligation , and the amount of such payment and � any expenses
incurred by Lessor , as tne case may be , will be deemed to be
additional rent payable by Lessee on Lessor ' s demand.
12. 4 Addresses . All notices and payments under this Lease
will be mailed or delivered, (a ) if to Lessee , at 401
Independence, P. 0. nox 617 , Cape Girardeau , Missouri , 63701 ; and
( b ) if to Lessor , at P.O. Box 220, Cape Girardeau, MO 63702 until
either Lessee or Lessor gives written notice to the other
specifying a different address .
12 . 5 Manner of Payment . All payments by Lessee will be made
by check or by other manner acceptable to Lessor .
12 . 6 Nonwaiver . No breach by Lessee in the satisfaction of
any representation , covenant , warranty, or obligation may be
waived except by the written consent of Lessor , and any such
waiver caill not operate as a waiver of any subsequent breach .
12, 7 Severance Clause . Any provision in this Lease which is
prohibited by law will be treated as if it never were a part of
this Lease , and the validity of the remaining terms of this Lease
will be unaffected .
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12. 8 Entire Agreement ; Addendum . This Lease and the attached
Exhibits constitut� the entire agreement between Lessor and Lessee
and supersede any prior agreement between Lessor and Lessee with
respect to the Equipment, except as is set forth in any Addendum
which is made a part of this Lease and which is signed by Lessor
and Lessee .
12 . 9 Amendments . This Lease may be amended only be a written
document signed by Lessor and Lessee . '
12. 10 Inurement . Subject to the restrictions in Section 12 . 1 ,
this Lease is b.inding upon and inures to the benefit of Lessor and
Lessee, their respective successors and assigns .
12. 11 Governing Law. This Lease is governed by the laws of
the State of Missouri .
12 . 12 Headings . Headings used in this Lease are Eor
convenience of reference only and the interpretation of this Lease
will be governed by the text only.
EXECUTED THIS 20th day of March , A. D. 198 7
BOATMEN'S E GIRA EAU
�essor
�
B y ,;
Jay D. field, President
i
CITY OF CAPE GIRARDEAU, MISSOURI
Lessee
By
Gary A. Eide , City Manager
ATTEST:
Alvin M. Stoverink , City Clerk
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EXH IB IT 1 . 1
Quantity Item Serial Number
1 Quint Ladder Tower Platform Chassis #54726
Firetruck Grumman #17494
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EXHIBIT 9 . 5
ACCEPTANCE CERTIFICATE
The undersigned ( "Lessee" ) under the Equipment Lease
Agreement (Tne " Lease" ) dated , 198 ,
with - ,
acknowledges receipt in good condition of all -of the leased
equipment described in the Lease and in Exhibit 1 . 1 to the
Lease this day of , 198 , and
certifies that
has fully and satisfactorily performed all of its covenants and
obligations required under the Lease .
CITY OF CAPE GIRARDEAU, MISSOURI
Lessee
, BY
Gary A. Eide , City Manager
ATTEST : ,
Alvin M. Stoverink , City Clerk
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EXHIBIT 4 . 1
SCHEDULE OF RENTAL PAYMENTS
Lessee : City of Cape Girardeau, Missouri
Commencement Date : t9ay 10 , 1987 �
Number and Frequency r18 Quarterly
of Payments :
First Payment Due: July 10 , 1987
Second Payment Due: October 10 , 1987
Final Payment Due : July 10 , 1991,
Original Term: May 10 , 1987 to June 30 , 1987
Renewal Terms : July 1 , 1987 to July 30, 1988
July 1 , 1988 to June 30 , 1989
July 1 , 1989 to June 30, 1990
July 1 , 1990 to June 3� , 1991
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EXHIBIT 4. 1 (Continued )
AMORTIZATION SCHEDULE
Principal : �410 , 164. 00
Interest Rate : 6 318' Total Interest Cost � 62,453.01
Payments : � 26,257.91 Quarterly, in arrears
PAYMENT SCHEDULE "
$ 410,164.00 at 6 3/8 � Interest for 4 Years g months
Payable in lg Equal Installments of $ 26,257.91 Quarterly
After pown Payment of $ -0-
PAYMENTS
----------------------------------------------------------------
DATE PRINCIPAL INTEREST TOTAL
07-10-87 $21,887.98 $4,369.93 $26,257.91
10-10-87 20,064.91 6,193.00 26,257.91
01-10-88 20,384.94 5,872.97 26,257.91
04-10-88 20,710.08 5,547.83 26,257.91
07-10-88 21,040.41 5,217.50 26,257.91
10-10-88 21,376.00 4,881.91 26,257.91
O1-10-89 21,716.95 4,540.96 26,257.91
04-10-89 22,063.34 4,194.57 26,257.91
07-10-89 22,415.25 3,842.66 26,257.91
10-10-89 22,772.77 3,485. 14 26,257.91 '
01-10-90 23,135.99 3,121.92 26,257.91
04-10-90 23,505.01 2,752.90 26,257.91
07-10-90 23,879.92 2,377.99 26,257.91
10-10-90 24,260.80 1,997. 11 26,257.91
01-10-91 24,647.76 1,610. 15 26,257.91
04-10-91 25,040.89 1,217.02 26,257.91
07-10-91 25,440.30 817.61 26,257.91
10-10-91 25,820.70 411.84 26,232.54
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EXHIBIT 5 . 1
Column "A" Column "B"
Purchase Option Price Effective Date
�414,533.93 7/10/87
�394,469.02 10/10/87
�374,084.08 1/10/88 .
�353,374.00 4/10/88
�332,333.59 7/10/88
�310,957.59 10/10/88
�289,240.64 1/10/89
�267, 177.30 4/10/89
� 244,762.05 7/10/89
�221,989.28 10/10/89
� 198,853.29 1/10/90
� 175,348.28 4/10/90
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� 151,468.36 7/10/90
� 127;207.56 10/10/9 0
� 102,559.80 1/10/91
� 77,518.91 4/10/91
� 52,078.61 7/10/91
$ 26,232.54 10/10/91
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