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HomeMy WebLinkAbout1994-26 Equipment Lease Agreement - Golf Club Cars1 RESOLUTION NO. 5_q4 A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, AUTHORIZING AND DIRECTING THE MAYOR AND VILLAGE CLERK TO ENTER INTO AN EQUIPMENT LEASE AGREEMENT WITH ASSOCIATES LEASING, INC. ATTACHED HERETO AS EXHIBIT "A" FOR THE LEASE OF SIXTY (60) 1994 DS ELECTRIC CLUB CAR GOLF CARS; AND, PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Village Council of the Village of North Palm Beach, Florida is desirous of entering into an Equipment Lease Agreement with Associates Leasing, Inc. for the lease of sixty (60) 1994 DS electric club car golf cars. BE IT RESOLVED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH, FLORIDA: Section 1. The Village Council of the Village of North Palm Beach, Florida, does hereby approve the Equipment Lease Agreement with Associates Leasing, Inc. for the lease of sixty (60) 1994 DS electric club car golf cars which Agreement is attached as Exhibit "A„ Section 2. The Mayor and Village Clerk are hereby authorized and directed to execute the Equipment Lease Agreement with Associates Leasing, Inc. set forth in Exhibit "A" for and on behalf 1 1 of the Village of North Palm Beach. Section 3. This Resolution shall take effect immediately upon its adoption. PASSED AND ADOPTED THIS 14th DAY OF July 1994. (V1 1J:agre Beal) ATT S VJ4/--dr, ILLAGE CLERK DIR/MAINT/WOPO ASSOCIATES LEASING, INC. EQUIPMENT LEASE AGREEMENT THIS AGREEMENT, made and entered into by and between Village of North Palm Beach, hereinafter called the "Lessee" and Associates Leasing, Inc, hereinafter caned the "Lessor". WITNESSETN: 1. For and in consideration of the mutual promises and agreements, and the rent for herein, the Lessor hereby teases to Lessee and the Lessee hereby teases from Lessor the golf cars set forth in paragraph 3 hereof, hereinafter referred to as the "Equipment", upon the terms and conditions herein set forth. 2. The term of this lease shall continue for Forty-eight (48) Months, so tong as Lessee carries out the terms and conditions of this lease on Lessee's pert to be kept and performed. 3. The Equipment is described as follows: QUANTITY DESCRIPTION SERIAL NUMBERS Sixty (60) 1994 DS Electric Club Car Golf Cars with baguet( protectors, sweater baskets, numbers, canopy tops, power rib tires, accu-chargers, rake holders, sand bucket kits, and permanent towing; LOCATION OF EQUIPMENT Address: 951 US Highway City: North Palm Beach County: Palm Beach State: FL Zip: 33408 4. RENT: As rental for Equipment, Lessee agrees to pay to Lessor the aggregate of the following sums as follows: $4.065.00 upon Lessee's execution of this Lease, as the advance rental for the first month's rent, then $4.065.00 per month for 47 consecutive months, commencing one month after delivery, as evidenced by the applicable Certificate of Delivery end attached Schedule A, if delivery occurs on the first through the fifteenth of the month, or commencing two months after delivery of the Equipment if delivery occurs on the sixteenth through the last day of the month; provided, however, that the last rental payment shall be payable no tater than the last day of the term of the Lease. Total Aggregate Rentals: S195,120.00 Alt payments must be received within ten (10) days of the due date by ASSOCIATES LEASING, INC., Gatteria i Towers at Erieview, 1301 E. 9th Street, Cleveland, Ohio 44114-1817, or at such other location as Associates Leasing, Inc. shalt specify in writing from time to time, and shalt not be deemed to have been made until actually received by Lessor. Delinquent installments of rental shall bear interest at the lower of (a) eighteen percent (18X) per annum, or (b) the highest per annum interest rate allowed by taw. In the event this tease is placed In the hand of an attorney to recover any monies due and to become due hereunder, or for the possession of the Equipment or otherwise to enforce Lessor's rights hereunder, Lessee shalt pay Lessor's reasonable expenses and attorneys' fees in connection therewith. 5. (a) LESSEE SHALL, AT ITS SOLE COST AND EXPENSE, MAINTAIN AND KEEP IN EFFECT VALID AND COLLECTIBLE PUBLIC LIABILITY INSURANCE IN AN AMOUNT NOT LESS THAN $1,000,000.00 WHICH INSURANCE SHALL BE PRIMARY. ALL SUCH INSURANCE SHALL PROTECT, AS THEIR INTERESTS NAY APPEAR, THE LESSOR AND THE LESSEE, WITH THE LESSOR NAMED AS AN ADDITIONAL INSURED, AND LESSEE SHALL FURNISH LESSOR WITH A CERTIFICATE OF SANE UPON REQUEST. ALL SUCH POLICIES PROVIDING SUCH INSURANCE SHALL PROVIDE THAT THE COVERAGE THEREUNDER NAY NOT BE TERMINATED WITHOUT THIRTY (30) DAYS PRIOR WRITTEN NOTICE TO LESSOR. (b) Lessee shall also, at its sole expense, keep the Equipment fully insured for the full replacement cost against toss, theft, damage, fire, destruction or,vandatism with responsible companies in a form satisfactory to Lessor. All such insurance by Lessee shall name Lessor and any assignee of Lessor as an additional insured and shall provide that any loss shall be payable to lessor or its assignee. Lessee shall furnish Lessor with a certificate of same upon request. Alt such policies providing such insurance shalt provide that the coverage thereunder may not be terminated without thirty (30) days prior written notice to Lessor. Lessee assumes the entire risk of loss, damage or destruction of the Equipment from any cause whatsoever. 6. Lessee has selected the Equipment and represents to Lessor that each item thereof is, in the opinion of Lessee, of the design, size, fitness and capacity satisfactory for Lessee's purposes, and Lessee agrees that Equipment is suitable and fit for the purpose intended. LESSOR'S SOLE AND EXCLUSIVE WARRANTY TO LESSEE IS THAT THE EQUIPMENT WILL BE IN NORMAL OPERATING ORDER WHEN RECEIVED BY LESSEE. IN THE EVENT OF A BREACH OF MANUFACTURER'S WARRANTY, LESSEE'S SOLE AND EXCLUSIVE REMEDY WILL BE THAT MANUFACTURER SHALL MAKE ANY EQUIPMENT ADJUSTMENTS, REPAIRS OR PART REPLACEMENTS TO ANY EQUIPMENT WHEN IT DETERMINES THAT THE EQUIPMENT DOES NOT CONFORM TO THE ABOVE MENTIONED WARRANTY. IN NO EVENT WILL LESSOR HAVE ANY OBLIGATION OR LIABILITY FOR DAMAGES, INCLUDING BUT NOT LIMITED TO CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN CONNECTION WITH THE USE AND PERFORMANCE OF THE EQUIPMENT. NO OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY ALLEGED IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, WILL APPLY IN ANY MANNER WHATSOEVER. LESSOR SHALL NOT BE LIABLE TO LESSEE FOR ANY LOSS, DAMAGE, OR EXPENSE OF ANY KIND OR NATURE CAUSED DIRECTLY OR INDIRECTLY BY ANY EQUIPMENT LEASED HEREUNDER OR THE USE, OPERATION OR MAINTENANCE THEREOF, OR THE FAILURE OF OPERATION THEREOF, OR THE ADJUSTMENTS, REPAIRS, OR PART REPLACEMENTS, OR BY ANY DELAY OR FAILURE TO PROVIDE ANY THEREOF, OR BY ANY INTERRUPTION OF SERVICE OR LOSS OF USE THEREOF, OR FOR ANY LOSS OF BUSINESS OR DAMAGE WHATSOEVER OR HOWEVER CAUSED. NO ALLEGED DEFECT OR UNFITNESS OF THE EQUIPMENT SHALL RELIEVE LESSEE OF THE OBLIGATION TO PAY RENT OR OF ANY OTHER OBLIGATION OF LESSEE TO LESSOR UNDER THIS LEASE. 7. TITLE OF LESSOR: Title to Equipment shall at all times remain in Lessor and Lessee will protect and defend, at its own cost and expense the title of Lessor from and against all claims, liens and legal processes of creditors of Lessee and keep all equipment free and clear from all such claims, liens and processes. Lessee shall give Lessor immediate notice of any attachment or other judicial process affecting equipment. Equipment is and shall remain personal property irrespective of its use or manner of attachment to realty. Upon the expiration or termination of this lease, equipment shall be returned unencumbered to Lessor at its nearest branch office of dealer at Lessee's expense. Lessee will not change or remove any insignia or fettering on equipment indicating Lessor's ownership. 8. The Equipment shall not be removed from the address of the location of Equipment as provided in paragraph 3 hereof without Lessor's prior written consent except for non -routine maintenance and necessary major repairs pursuant to a golf car maintenance agreement between Lessee and Club Car, Inc. Lessor may, for the purpose of inspection, at all reasonable times enter upon any job, building or place where Equipment is located. Lessor shall give Lessee twenty-four (24) hours notice of its intentions to make an inspection of the Equipment. 9. Lessee agrees to safely store the Equipment under roof or tarp when not in use and to properly secure the same at night and such other times when the golf course(s) on which the Equipment is used is closed to play, and Lessee agrees to be solely responsible for such storage and safekeeping. If the Equipment is electrical, Lessee agrees that such storage shall include sufficient and adequate electrical charging outlets and watering facilities for the batteries which are a part of the Equipment. Lessee further agrees to be solely responsible for the cost of all electricity, fuel, and routine maintenance for or to the Equipment. The Equipment shall be used and operated only as golf cars on the golf course(s) at the address specified in paragraph 3 hereof in careful manner and in compliance with all applicable laws. The Equipment shall not be used or operated in manner subjecting it to depreciation above the normal depreciation associated with the use specified above. Lessee shalt be solely responsible for damage to the Equipment from any accident, vandalism, user abuse, collision, fire or act of God. 10. Lessee shall indemnify and save Lessor, its agents, servants and employees, harmless from any and all claims, actions, proceedings, damages, liabilities, judgments, orders, decrees, awards, costs, expenses, attorneys' fees, and claims on account of damage to property or injuries to person (including death) which may be sustained by Lessee, its agents, servants, employees, licensees, invitees, operators, users, individual lessees, or any other person arising out of or in connection with the lease, maintenance, operation, possession or use of the Equipment, except that Lessee shell have no liability to Lessor for damages or costs incident thereto caused by the sole negligence of Lessor. 11. ASSIGNMENT: This lease and all rights of Lessor hereunder, including all monies and claims for monies due and to become due to Lessor hereunder, shall be fully assignable et any time by Lessor without the consent of Lessee. Upon written notice from either Lessor or its assignee to Lessee of any assignment, Assignee shall thereafter be entitled to all rights and remedies herein conferred on Lessor, including the rights of Lessor upon the default of Lessee; but Lessor will not thereby become such assignee's agent. Lessee will settle all disputes and claims (including but not limited to disputes and claims relating to warranty, maintenance and proper usage) against Lessor directly with Lessor, Lessor hereby agreeing to remain responsible therefor; and Lessee will not refuse to pay, or set up any claim or defense whatever against any assignee of Lessor based on any disputes or claims with Lessor. Without the prior written consent of Lessor, which may be withheld under any circumstances, Lessee shall not directly or indirectly, by operation of law or otherwise, sell, assign, sublease or otherwise transfer the Equipment, this lease or all of any part of Lessee's interest hereunder. 12. TAXES AND ASSESSMENT: Lessee shall be liable for and shall pay promptly when due, to whomever payable (or reimburse Lessor for), all taxes, assessments and governmental fees end charges whatsoever, including but not limited to any sales, use, personal property, privilege, excise, license and gross receipts taxes and filing and recording fees, in corrections with Equipment of this Lease, excluding only franchise taxes and taxes measured by Lessor's income. Lessee shall indemnify and hold Lessor harmless against and from any loss or cost arising from non-payment of such taxes, assessments or governmental fees and charges, whether such loss or cost is levied against Lessee or Lessor. Where personal property taxes are not billed on a unit basis by the respective governmental authority, Lessor shall determine the appropriate tax liabilities attributed to the Equipment on a reasonable basis. If Lessee falls to pay promptly when due any such taxes, assessments or governmental fees or charges, Lessor may, in Its discretion, pay any such amount; and Lessee agrees to reimburse Lessor immediately upon demand. for any such payments made by Lessor with interest thereon at the maximum rate legally chargeable until paid. Lessee agrees to collect and remit any and all sales, use and other taxes payable In any state, county, or city where Lessor's Equipment is located, used and operated by Lessee. 13. Lessee agrees, at its sole cost and expense, to employ 8 mechanic to provide for routine maintenance of the Equipment including, but not limited to, keeping the Equipment clean and orderly, changing flat tires, charging and watering the batteries, fuel, and other routine maintenance procedures recommended by Club Car, Inc. Club Car, Inc. agrees that its sole cost and expense, to furnish a periodic intervals a mechanic for performance of non -routine maintenance procedures and major repairs not resulting from accident, vandalism, user abuse, collisions, fire or act of God under the terms and conditions of the Maintenance Addendum dated and attached hereto. 14. Lessor retains the right, without Judicial process, to withdraw the Equipment covered by this lease agreement for non-payment of the rent provided for in paragraph 4 hereof or for user abuse beyond ordinary and reasonable wear and tear. Lessee acknowledges that Club Car, Inc. may from time to time withdraw certain items of the Equipment for maintenance under this agreement, but Club Car, Inc. will endeavor to furnish a like replacement of same if any of the Equipment will be out of service for any extended period of time. 15. Lessee agrees during the life of this lease, at its own cost and expense, to maintain Equipment in the condition it is received by Lessee, make all necessary repairs, and to return Equipment to Lessor at the end of this lease in the same condition as received, reasonable wear and tear excepted. Lessee shall reimburse Lessor for any loss due to damage to or destruction of Equipment from any cause whatsoever. Lessee shall cause Equipment to be operated only for Its use and by competent operators and shall pay all expenses of operation. If Lessee does not return the Equipment as provided for herein, Lessor may repossess the same at any time without demand or notice and wherever same may be located and without any court order or other process of law, and may enter upon the premises of lessee for that purpose. In such event, Lessor shall hold the Equipment so repossessed free and clear of this lease and any rights of Lessee hereunder. 16. This lease and the interpretation thereof shall be construed in accordance with the taws of the State of Ohio. 17. DEFAULT: Time shall be of the essence in Lessee's performance under this Lease. Lessee shall be in default under this Lease if (a) Lessee fails to pay any amounts due hereunder promptly when due, (b) lessee fails to perform promptly any of its other obligations hereunder, (c) any proceeding is instituted by or against Lessee or its property under any state or federal law dealing with bankruptcy, insolvency, receivership or other relief of debtors, (d) Lessee makes an arrangement, extension or assignment for the benefit of creditors, (e) Lessee becomes insolvent, (f) Lessee dissolves or otherwise ceases to exist, or liquidates all or substantially all of its assets, (g) if it is discovered that any representation, or other information made or furnished by Lessee was false or misleading when made or furnished, (h) if any Equipment is (In Lessor's judgement) substantially destroyed, stolen or otherwise lost, or (i) Lessee attempts to remove, sell, encumber or sublet any Equipment or assign, or otherwise dispose of any of Lessee's rights hereunder. Upon any such default, Lessor shall be entitled to exercise the rights and remedies described in Paragraph 18 hereof. If, at any time when rentals are due hereunder, Lessee shall have paid rentals due for certain items of Equipment or other property leased to Lessee from time to time but shall not have paid in full rentals due for other such items and property, the aggregate rentals paid shall be apportioned among all items and other property for which rentals are then due, end Lessee shall be deemed to be in default in the payment of rentals with respect to all such items and other property. 18. REMEDIES AND WAIVERS: Upon any default by Lessee under any provision hereof, Lessor may retain all prior rental payments as compensation for Lessee's use of Equipment, exercise any rights and remedies provided in this Lease and/or by law and, at Lessor's option: (a) by notice to Lessee, demand payment of all amounts then due, whereupon all such amounts shall become immediately due and payable with a late charge equal to 5% thereof and interest at the maximum legal rate without prejudice to any other rights of Lessor hereunder, and/or (b) by notice to Lessee, demand payment of all amounts due and to become due from Lessee, whereupon all such amounts shall become immediately due and payable with interest at the maximum legal rate and without demand, prior hearing or legal process, enter any premises where Equipment maybe found and repossess the same, whereupon all further rights and interest of Lessee in Equipment and under this Lease shall terminate and Lessor may (i) sell Equipment, without notice to Lessee where permitted by law, at public or private sale at which Lessor may be the purchaser, (ii) relet or otherwise dispose of Equipment or (iii) retain Equipment in satisfaction of Lessee's remaining obligations hereunder. If Lessor shall sell, retet or otherwise dispose of Equipment, Lessor shall credit upon all amounts then declared to be due the proceeds of such sale, reletting or other disposition and any insurance proceeds received by Lessor for damage, destruction, theft or other loss of Equipment, less (1) the amount of the purchase option price, if any, hereinabove provided or the projected value of Equipment at the end of the term, as determined by Lessor, (2) the expenses of repossessing, repairing and selling, reletting or otherwise disposing of Equipment and (3) reasonable attorney fees (where permitted by law). Any surplus shall be paid to Lessee and/or such persons, if any, who may be entitled by taw to receive such surplus prior to Lessee. Lessee shall remain liable for any deficiency with interest at the maximum legal rate. If any Equipment, in violation of this Lease, is sold, encumbered, sublet, attached, stolen, concealed or removed from those premises specified above, Lessor or any assignee of Lessor shall have a security interest in all other personal property then owned by Lessee (including inventory, accounts, equipment, furniture, fixtures and vehicles) to secure the performance of Lessee's remaining obligations hereunder, which security interest will attach, without notice to Lessee, upon the first such event to occur. No failure of Lessor to exercise, or delay in exercising, any right or remedy available to Lessor shall operate as a waiver thereof, and no single or partial exercise of any such right or remedy shall preclude any other or further exercise of the same of any other right or remedy. No waiver by Lessor of any such right or remedy in connection with any default by Lessee shall operate as a waiver of the same or any other such right or remedy in connection with any other further default. 19. NOTICES: All notices relating hereto shall be delivered in person to an officer of the Lessor or Lessee or shall be mailed registered to Lessor or Lessee at its respective address shown below or at such other address furnished to the sender by the other party. No remedy of Lessor or Lessee hereunder shall be exclusive of any other remedy herein or by law provided, but each shall be cumulative and in addition to every other remedy. Failure on the part of Lessor or Lessee to exercise any remedy hereunder shall not be a waiver of any default and a waiver of a default shall not be a waiver of any other or a subsequent default. 20. TERMINATION FOR NON -APPROPRIATION: It is the Lessee's intention to make all Lease payments as required under this Equipment Lease Agreement. The Lessee represents that the equipment and its use is essential to the performance of a necessary governmental function of the municipality. However, if the 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 appropriated for payments due under this Lease, Lessee may, by written notice given to Lessor no less than 30 days after adoption of the budget for such fiscal year, terminate this Lease with respect to payments due beyond the end of the then current fiscal year. Upon such termination, Lessee shall return the Equipment to Lessor in accordance with section 7 hereof and pay all rents and other payments due to Lessor, to the extent of funds appropriated therefor. Lessee agrees not to thereafter 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 any agency or entity hired by Lessee during the originally scheduled term of this lease. 21. ENTIRE AGREEMENT: Lessor has not made any representations of any kind, nature or description except as are in this lease specifically set forth and this lease contains all the terms and agreements entered into between the parties. Lessor is irrevocably authorized to insert herein serial numbers and any further description of Equipment and the date of this lease. IN WITNESS WHEREOF, Lessee and Lessor have executed this Agreement this 1 4 t h day of July 19 94 . ‘..e( Lessee Village of North Palm Beach US Highway 1 North N, Beach` \Jl l� ll\�. _ Title: k Federal ID# g 171 Lessor Associates Leasing, Inc. 1301 East Ninth Street Clevel i,d, 0 io 44114-1817 By: I� �� Title: (L - 5+� � %M,' Lessee's remaining obligations hereunder. If Lessor shall sell, relet or otherwise dispose of Equipment, Lessor shall credit upon all amounts then declared to be due the proceeds of such sale, reletting or other disposition and any insurance proceeds received by Lessor for damage, destruction, theft or other loss of Equipment, less (1) the amount of the purchase option price, if any, hereinabove provided or the projected value of Equipment et the end of the term, as determined by Lessor, (2) the expenses of repossessing, repairing end selling, reletting or otherwise disposing of Equipment and (3) reasonable attorney fees (where permitted by law). Any surplus shall be paid to Lessee and/or such persons, If any, who may be entitled by taw to receive such surplus prior to Lessee. Lessee shall remain liable for any deficiency with interest at the maximum legal rate. If any Equipment, in violation of this Lease, is sold, encumbered, sublet, attached, stolen, concealed or removed from those premises specified above, Lessor or any assignee of Lessor shall have a security interest in all other personal property then owned by Lessee (including inventory, accounts, equipment, furniture, fixtures and vehicles) to secure the performance of Lessee's remaining obligations hereunder, which security interest will attach, without notice to Lessee, upon the first such event to occur. No failure of lessor to exercise, or delay in exercising, any right or remedy available to Lessor shalt operate as a waiver thereof, and no single or partial exercise of any such right or remedy shalt preclude any other or further exercise of the same of any other right or remedy. No waiver by Lessor of any such right or remedy in connection with any default by Lessee shall operate es a waiver of the same or any other such right or remedy in connection with any other further default. 19. NOTICES: All notices relating hereto shall be delivered in person to en officer of the Lessor or Lessee or shall be mailed registered to Lessor or Lessee at its respective address shown below or at such other address furnished to the sender by the other party. No remedy of Lessor or Lessee hereunder shall be exclusive of any other remedy herein or by law provided, but each shall be cumulative end in addition to every other remedy. Failure on the part of Lessor or Lessee to exercise any remedy hereunder shall not be a waiver of any default and a waiver of a default shall not be a waiver of any other or a subsequent default. 20. TERMINATION FOR NON -APPROPRIATION: It is the Lessee's intention to make all Lease payments as required under this Equipment Lease Agreement. The Lessee represents that the equipment and its use is essential to the performance of a necessary governmental function of the municipality. However, if the 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 appropriated for payments due under this Lease, Lessee may, by written notice given to Lessor no less than 30 days after adoption of the budget for such fiscal year, terminate this Lease with respect to payments due beyond the end of the then current fiscal year. Upon such termination, Lessee shall return the Equipment to Lessor in accordance with section 7 hereof and pay all rents and other payments due to Lessor, to the extent of funds appropriated therefor. Lessee agrees not to thereafter 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 any agency or entity hired by Lessee during the originally scheduled term of this lease. 21. ENTIRE AGREEMENT: Lessor has not made any representations of any kind, nature or description except as are in this lease specifically set forth and this lease contains all the terms and agreements entered into between the parties. Lessor Is irrevocably authorized to insert herein serial numbers and any further description of Equipment and the date of this lease. IN WITNESS WHEREOF, Lessee and Lessor have executed this Agreement this 19 Lessee Village of North PBeach US Highway 1 North Pal each F -4•. By: NI—�•�--� Title: / -v Federal IDN 1( Lessor Associates Leasing, Inc. 1301 East Ninth Street Cleveland, Ohio 44114-1817 By: Title: day of p.o. W,IP11 ANON& Wt 1.141 Met 411.1111 NOTE: This is a two-part form Send both parts to the Department of State for filing. If a copy of this form is needed prior to filing, make photocopies for your records IMPORTANT: Read instructions on back before filling out form. STATE OF FLORIDA UNIFORM COMMERCIAL CODE FINANCING STATEMENT • FORM UCC-1 (REV. 1993) This Financing Statement is Resented to a filing officer for filing pursuant to the Uniform Commerdal Code 1. Debtor (Lest Name First It an Individual) 18. Dale of Birth or FEU, Village of North Palm Beach •_.� 1 b. Mailing Address 951 US Highway 1 2. Additional Debtor or Trade Name (Last Name First I1 an Individual) lc. City, State North Palm Beach, 2b. Mailing Address 2c. City, State 3. Secured Party (Last Name First It an Individual) Associates Leasing, Inc. 3a. Mailing Address 1301 East Ninth Street 4. Assignee of Secured-PartyList Name First 1f an Individual) 3b. City, State Cleveland, 4a. Mailing Adti -ess 4b. City, State 5 PL 2a. Date of Birth or FE OH 1•. p •e 33408 2d. Zlp Code 3e. Zip Code 44114-1817 4c. zip Code 5. This Financing Statement covers the following types or Items or property pnclude description of real property on which located and owner of record when required. If more space is required, attach additional sheet(s)]. 6. Check only If Applicable: SEE ATTACHMENT A ❑ Products of collateral are also covered. 153 Proceeds of collateral are also covered. 0 Debtor Is transmitting utility. 7. Check appropriate box: ® All documentary stamp taxes due and payable or to become due and payable pursuant to s. 201.22 F.S., have been paid. (One box must be marked) 0 Florida Documentary Stamp Tax Is not requl ed. 8. In accordance with s. 679.402(2), F.S., this statement Is flied without the Debtor's signature 9. Number of additional sheets presented: 1 to perfect a security Interest In collateral: El already subject to a security Interest In another jurisdiction when It was brought Into this state or debtor's location changed to this state. 0 which is proceeds of the original collateral described above In which a security Interest was perfected. 0 as to which the filing has lapsed. Date filed and previous UCC-1 file number • 0 acquired after a change of name, Identity, or corporate structure of the debtor. 10. Sign4ture(s) of Debtor Village a North Palm Beach 11. Signature(s) of red Party or If Assigned, by Assignee(s) Associates Leasing, Inc. 12. Return Copy to• Thls Space for Use of Filing Officer Name Address Associates Leasing, Inc. 1301 East Ninth Street Cleveland. Ohio 44114-1817 1 INSTRUCTIONS 1. Please type this form using black typewriter ribbon. 2. If the space provided for any item is inadequate, please use additional 81/2" x 11" sheets. Be sure to indicate the total number of attached pages in Block 9. There is an additional fee for attached pages. 3. Processing fees are set by the Florida Legislature, are non-refundable and are subject to change. To verify processing fees contact the Department of State, UCC Filing Section at (904) 487-6055. Make checks payable to the Department of State. 4. Send the two-part form to the Department of State at the following address: 1ST CLASS MAIL: Florida Department of State UCC Filing Section P. 0. Box 5588 Tallahassee, FL 32314 OVERNIGHT COURIER SERVICE: Florida Department of State UCC Filing Section , ,• 409 E. Gaines Street Tallahassee, FL 32399 5. All tees submitted for filing UCC documents are processing fees and are non-refundable in accordancewith s. 15.091, F.S. 6. The acknowledgment copy will be stamped with the date, time, and place of filing and show the file number assigned to the UCC-1 document. It will be returned to the address indicated in Block 12. A self addressed envelope may be sent for the return of the acknowledgment copy. Blocks 1-2: Enter Debtor business or personal name, mailing address, city; state and zip code in blocks 1 and 2. This Financing Statement will be indexed in the official record according to the name(s) listed in the debtor name Block(s). Do not enter more than one name per line. Include date of birth or FEI number in the appropriate space. Disclosure of date of birth or FEI number is optional for filing of this statement. It will be used to identify individuals with thesame or similar names. Enter Secured Party business or personal name, mailing address, city, state, and zip code in Block 3. If Secured Party assigns its interest to an assignee, enter assignee name and address in block 4. Block 4: If assignment is made at the time of filing the Financing Statement, enter assignee name and address in block 4. This party becomes the current secured party of record. Block 5: Enter a description of collateral by indicating the types or by describing the items covered. If additional space is needed attach 81/2" x 11" sheet(s). There is an additional charge for attached pages. Block 6: If products or proceeds of collateral are the covered, check the appropriate box. If the Debtor is a transmitting utility check the appropriate box. A Financing Statement for a transmitting utility does not expire until a termination is filed. - Block 7: Indicate by checking off the appropriate box, if Florida Documentary Stamp Tax is required and has been paid or is not required. One of the boxes must be checked off. For information regarding Documentary Stamp Tax contact the Florida Department of Revenue at 1-800-352-3671. Block 8: A UCC-1 Financing Statement is sufficient when it Is signed by the Secured Party alone if it is filed in accordance with one of the statements in Block 8. If the collateral was originally filed on a Financing Statement which has lapsed, enter the original UCC-1 file number and date filed In the space provided. Block 3: Block 9: Enter the number of additional pages attached to the UCC-1 form. If Secured Party wants a copy of the attached page(s) returned with the acknowledgment copy, a duplicate set of attachments must be submitted and marked "copy." Block 10: Enter Debtor's signature(s) in space provided. Each Debtor listed on the Financing Statement must sign the UCC-1 form. Signature(s) must be original and in ink. - Block 11: If one of the statements in Block 8 is checked off, enter the Secured Party signature(s) in the space provided. Otherwise, signature of the Secured Party is optional. Signature(s) must be original and in ink. Block 12: Enter the name and complete address of the party to whom the filed acknowledgment copy is to be returned. NOTE: If using this form to the with a Florida County Clerk's office, check with the appropriate office for fee and filing Information. To n McCreary Corporation (Insurance Agent) ddress) 700 Central, Parkway Stuart, FL 34994 x i�,tY) (State) (Zip) \ 407/287-7650 e\lephone) (Fax) Gentlemen: Date We have entered into an Equipment Lease Agreement ('Jpase") with ASSOCIATES LEASING, INC., VENDOR FINANCE DIVISION ("ALI"), 1301 East 9th Street, Cleveland, Ohio 44114-1817 whereby ALI has an interest in the following described property: Sixty (60) 1994 DS Electric Club Car Golf Cars 951 US FL 33408 $ 195,120.00 (Location of Property) (Value) Under the terms of the 1 page we are required to insure the property against all risks and obtain General Liability Coverage in the minimum amount of $1,000,000. Please place the necessary coverage and provide ALI with a copy of the complete Policy or a Certificate of Insurance showing the following information: Name of Insured Name of Insurance Agent Name of Insurance Company Effective Date of Coverage Expiration Date of Coverage Policy Number Description of Property Insured Description of Limits of Coverage Any Exclusions and Special Conditions of Coverage In addition to the above Policy or Certificate, please execute and send to ALI a standard Long Form Loss Payable Endorsement and a copy of an Endorsement naming ALI as Additional Insured and Loss Payee for the Coverage. 625072 rev 6-93 (PLPD) Sincerely, Village of North Palm Beach (Lessee By 951 US av 1 (Address) North Palm Bea;h. FL 33408 (City, State, Zip) ATTACHMENT A VILLAGE OF NORTH PALM BEACH LESSEE ASSOCIATES LEASING, INC. LESSOR Sixty (60) 1994 DS Electric Club Car Golf Cars with bagwell protectors, sweater baskets, numbers, canopy tops, power rib tires, accu-chargers, rake holders, sand bucket kits, and permanent towing; together with all future attachments, accessories, replacement parts, additions, and all chattel paper, documents, general intangibles, instruments, accounts, contract rights and leases now existing or hereafter arising with respect to the above collateral, and all rental payments, and other income relating thereto or arising therefrom, and all cash and non -cash proceeds thereof. Lessee: Village of North Palm Beach Fed ID #F\�� �3�Q\ 6017984 BY: \)\\, \\\62. TITLE: Mayor 1. CLUB CAR,INC:("CLUBCAR")'agreesfor. to maintain, as provided below;' ("CUSTOMER"):The EQUIPMENTtobei na1ntafpe that EQUIPMENT is covered bythjls`Agreement.;0 ..•f,+'.•r µIYy �titi ti9.'y �S} il.y 3,8L 2. CLUB CAR and/or its contractoratitsexppnseartdat.teasoruble&ervalsgtjallcauseanauthorizedmechanicto; perform non -routine maintenanceonrandany,ece„sary,major.repairst6,.theEQUIPMENT and shallhavethe';, right to remove affected jtems'of',EQUIPM NT;�rfJoli A.,CYSTOMER's?eremises;in order ;to provide, such,';:,� maintenance and repairs 'In the event; f such1remgval CLUB CAR shall, cause such'item(s) to be returned to CUSTOMER as expeditiously as reasopa bly possible Allt Pf (workshallxtie`performewd� in a good workmanlike; ' fashion, • . • ,� --> -'�'x fi (Y ,y 3 z �'°-iri f<, ,r Ay :i': r-. • ros'E,.7 e. ti i 4` '• y °srf:'-. ..s 3. CUSTOMER agrees'to perform all maintenance on the EQUIPMENT, Other than that specified below to be performed by CLUB. CAR and/or.its'contrector, and to accomplish same in a, good, workmanlike fashion: CUSTOMER agrees at its expense, to employ, competent trajped personnel to provide routine and preventative • , maintenance on the EQUIPMENT and to follow,all in;;tructions.contained (n CLUB CAR; INC.'s Owner's Manuals and Maintenance and Service' Manuals'concerniig th91operation;an(t;maintenance of the EQUIPMENT.: CUSTOMER agrees that any.:damagecausediiegligepce;or abuse4y,operators;of.the EQUIPMENT-or,.e negligence in the preventative maintenancie and anjf'damag`e resultiing from non-compliance with CLUB CAR's k Manuals stated' above are the soli respoj Lowe Kg SIOMER CUSTOMER is responsible for providing electricity end: - the cost of, same ;f• t h i Q e , r C ! IPMEN and/4r gaspline. and ,oil. (gasoline-. EQUIP.MENT).'t z. , 4. CLUB CAR and/or its contractor and 6 . p MAINTENANCE SCHEDULE;, CUSTOMER A.:?; DAILY,' t yf; Remo ertra 'f I, ,•j - =1i Maintain"prgper!tir9,•te _ 'keep;EQUtP�,i ENTicil. anal] iVisuallY. ,t oot l tllP . A Chang or rpOP1 f tiVtir R'. a {t Charge batteles eI QV) eK,V.M4PIR ,Ctieq- reverseitgfP1P • r;t•X prp • - • MAINTENANCE $CHED A.'.' ASREQUIR,kf r'; pgt;grth per califc 011.par01,,EQUIPM fwfrthetdescribedit E lllzk rin flj. r 2.07t it mrf4Vois' Ii ]Ix it.i'E 1, •q_ iI1/.�$4rsi` y- t' c9 months from :NT") for the customer named above,` Fichibit,"Ar attached hereto:and only 2:: $d on a mon�tly basis • • t folio ing responsibilities: r:fill gas, tank as line k ..ftirlit,10:f e... ' ' .%‘', _ •,. ci .•', I- ' 1 :-: [ ' • Greasln of, r n ,t ,t,Repairs to pn . okr,pn a . I - : . *.‘,. ' . . , •is,'''•-,;(riti'Setvice Orr ts'yitenioticran'. tf ...- • ''''-! ‘!:: . '.. f:,;.4'teg144..:"Agonitn. electtigarpeiViiPrPdE§:1.11P - ' dySs.,\ : 5a tkr,444(e> 4•Repa I ft p c, arget ReP)001iittifiga ..e its 1'. RePairstr and/Cif:Sart ''.1.41V4Vir te-, I gasoline- t ..;tt,:7,...,YA '414 - 1: '' tt t'''' r 4; 1 ' ,,f,:r cl:W.;'•:2 .f,;71:: ;Repairs tq,and/ti,tpp, pe, L ._„.. Repairs to pitd/Octpplateitiirltl, IfkRepaitst0Ppd/otrepigeftniiirOf •77, Replacenient of tiiterleigi. lc icrifti Replacement'of filteririndh 5. CUSTOMER agrees to report to CLUB CAR'and/ot itS. 0 tattot any-milfu On dif EQUIPMENT, identifying serial numbers and nature of complaints. CUSTOMERilloigreel to report ginidarnage,- accidents, wrecks or vandalism to CLUB CAR and/or its contractor within', enti7four,(24),houteatdiscovery."1. ,:,''-:;.: . • . bi ' ' - - • • - . '1.: ' 4 :1 • . ' :' 1" ':. : - L 4 i ,: *.W :1',;1:: i 4i; +4ii:111:(14,1";1$1-:' ":\ ' “110,:t1 ;V.,/ ;,•. ,::: < , ji,,i \ ''' - .1 . 6.' . This Agreement shall terminate upon the thipitatrotrof 'fie-riLimbet„Of'14tinthsitpfed tri'isOigraiih 1 herebf. . ' '..3,:•-'.,- ,,: • . -. .-,„::::... ,i-,.-.,:-;).at.,1,44.40ppe,,, ;-;-.•sp;%:".-4,..1,..,, .,-,..-.. . 7. SPECIAL STIPULATIONS:Senkce once 'a, weelc•intinitinkthoeviithin;41t, oursi ,,of 4riot if icat ion, , ..., , : -,.' e: 4,' ; 'S . ',' S:11: ' .ti.SPAYtiteakKe..:;17efitte Q : . Z ' 11,;* excludes weekenda'and helidaye:t;t ttatteilet to 'De"; kisplacedzaer. tecnitted 'to :handle play • • - Repairs to and/or replacement of ssl nt. 11,"! ?c,7T, 7t,P. 07.54$11,§ 7 • 7,41:t1/4i1:57Y11,52:7474* ,:;;,1g11:41 ',..demAnA ..44,14.4K a sea 'WA", 9C"- ; '.°'•Lar •. 6.:..Tis Agreement may be terminated by Cat • 9.4ThiSAgreeMent Shall be construe inacco Ailgusta,IGeOrgia this o •CUSTOMERuit' ,ti;‘,.3.7.67sry3,7, VIV7t'''ItigtTec*7e7*!%-,ciy.trj •',ZY,y;? ity,7,7,77trer;" 11.1fP VILLAGE OP: NORTH 11, • rkA - itAt vf,itettv4' " BY:k• ' , As Its: 1. . „ - , • 1:;;;.• ••; !.*;•<-7 7010008/911psi - dev Veit • : • • t:22:f the' 51C ti"tliartrIntal 434icbect. ,""