HomeMy WebLinkAbout17- Lease-Purchase Agreement - Caterpillar Financial Services Corporation - 2016 Snow Blower Lease Attachment A to Governmental Lease-Purchase Agreement
Transaction Number 2952288
LESSOR: LESSEE:
CATERPILLAR FINANCIAL SERVICES CORPORATION CITY OF BOZEMAN
2120 West End Avenue 121 N. ROUSE
Nashville,TN 37203 BOZEMAN, MT 59715
ADDITIONAL
2013 Caterpillar 924Ks/n PVVRO1840
SIGNATURES
LESSOR LESSEE
CATERPILLAR FINANCI L SERVICES CORPORATION CITY OF BOZEMAN
Signature jd — Signatur
Name(print) Name(print) Chrt S A_ jl y JSA I
Matt B7!ri ce„
Title Documentation Manager Title ltk r-C
Date :3115 Ll-7 Date B?
Form No.GG LE E 520 W a<WCdw 10271D18 3:3 PM CT
Amendment to Governmental Equipment Lease-Purchase Agreement CA
Transaction Number 2952288 Fnanaal
This Amendment(the"Amendment"),dated (the"Effective Date"),to the Governmental Equipment Lease-
Purchase Agreement(the"Agreement')for the Transaction Number set out above is by and between the parties identified
below.
CATERPILLAR FINANCIAL SERVICES CORPORATION City of Bozeman
2120 West End Avenue 121 N.Rouse
Nashville,TN 37203 Bozeman,Montana 59715
TERM SAND CONDITIONS-
1. Capitalized terms used but not defined herein shall have the meaning given them in the Agreement.
2. Except as provided herein,the Agreement shall remain unchanged and in full force and effect in accordance with its terms.
Any additional modifications are null and void unless approved in writing by you and us. Nothing herein all be deemed to
he-a-waiver-or-amendrnent-ofany-other-provision-contained-in-the-Agreement-or-any-of-our-rigfits-or-remedies-underthe------
Agreement. All references to section numbers and sentence numbers of the Agreement shall be to those numbers as they
existed prior to any of the amendments set forth in this Amendment.
3. As of the Effective Date,the Agreement is hereby amended as set forth below.
1. Section 10 of the Agreement is amended and restated In its entirety as follows:
Reserved
2. The 3rd sentence of Section 11 of the Agreement Is amended and restated in its entirety as follows:
You agree to keep the Units insured to protect our interests therein,at your expense,for such risks,in such amounts,in
such forms and with such companies as we may require,including but not limited to fire and extended coverage insurance,
and explosion and collision coverage.
CATERPILLAR FINANCIAL SERVICES CORPORATION CITY OF BOZEMAN
Signature: Signature:( �
Name(print): Name(print vl llrfS14Matt Bartalt
Documentation Manager
Title: Title:Cltv 1L4&*,q,r
Date: 15 Date: I- Z�_
Governmental Equipment Lease-Purchase Agreement ���•
Transaction Number 2952288 Fnmuial
LESSOR("we", "us",or"our"): LESSEE("you"or-your-):
CATERPILLAR FINANCIAL SERVICES CORPORATION CITY OF BOZEMAN
2120 West End Avenue 121 N.ROUSE
Nashville,TN 37203 BOZEMAN,MT 59715
In reliance on your selection of the equipment described below(each a"Unit"),we have agreed to acquire and lease the Units to you,subject to the
terms of this Lease. Until this Lease has been signed by our duly authorized representative,it will constitute an offer by you to enter into
this Lease with us on the terms stated herein.
2. DESCRIPTION OF
DESCRIPTION OF UNITS SERIAWIN ANNUAL FINAL LEASE DELIVERY DATE
Whether the Unit is new or used,the Unique ID number for LEASE PAYMENT PAYMENT Enter date machine was
model number,the manufacturer, this Unit. This is due per delivered to you
and the model name. n d,as stated below in section 3.
(1)New 217 RPMTECH SNOW BLOWER 'MP $13,933.21 $6.640.00
SEE SCHEDULE A FOR ADDITIONAL UNITS.Each item of Additional Collateral,if any,identified in an attached SCHEDULE A(if used)is considered a Unit under the
terms of this Lease Schedule and the Master&reernent-
TERMS AND
CONDITIONS
3. Lease Payments;Current Expense You will pay us the lease payments, pay to us, on demand, a late payment charge equal to the lesser of five
including the final lease payment set forth above (collectively, the "Lease percent(5%)of such Payment or the highest charge allowed by law.
Payments"). Lease Payments will be paid by you to us as follows: a first 5. Security Interest To secure your obligations under this Agreement, you
payment of$13,933.21 will be paid in advance and the balance of the Lease grant us a continuing first priority security interest in each Unit(including any
Payments is payable in 6 successive annual payments of which the first 5 Additional Collateral), including all attachments, accessories and optional
payments are in the amount of$13,933.21 each,and the last payment is in features (whether or not installed on such Units) and all substitutions,
the amount of$6.640.00 plus all other amounts then owing under this Lease, replacements, additions, and accessions, and the proceeds of all the
with the first Lease Payment due on the date that we sign this Lease and foregoing,including,but not limited to,proceeds in the form of chattel paper.
subsequent Lease Payments due on a like date of each year thereafter until You authorize the filing of such financing statements and will, at your
paid in full. A portion of each Lease Payment constitutes interest and the expense, do any act and execute, acknowledge, deliver, file, register and
balance of each Lease Payment is payment of principal. The Lease record any document, which we deem desirable to protect our security
Payments will be due without demand. You will pay the Lease Payments to interest in each Unit and our rights and benefits under this Agreement. You,
us at Caterpillar Financial Services Corporation;PO Box 100647; Pasadena, at your expense,will protect and defend our security interest in the Units and
CA 91189-0647 or such other location that we designate in writing. Your will keep the Units free and clear of any and all claims, liens,encumbrances
obligations, including your obligation to pay the Lease Payments due in any and legal processes however and whenever arising.
fiscal year,will constitute a current expense of yours for such fiscal year and
will not constitute an indebtedness of yours within the meaning of the 6. Disclaimer of Warranties WE HAVE NOT MADE AND DO NOT MAKE
constitution and laws of the State in which you are located (the "State"). ANY WARRANTY, REPRESENTATION OR COVENANT OF ANY KIND,
Nothing in this Agreement will constitute a pledge by you of any taxes or EXPRESS OR IMPLIED, AS TO THE UNITS. AS TO US, YOUR LEASE
other moneys,other than moneys lawfully appropriated from time to time for AND PURCHASE OF THE UNITS WILL BE ON AN"AS IS"AND"WHERE
the payment of the "Payments" (as defined in the last sentence of this IS" BASIS AND "WITH ALL FAULTS". Nothing in this Agreement is
Section)owing under this Agreement.You agree that,except as provided intended to limit,waive,abridge or otherwise modify any rights,claims,
In Section 7,your duties and liabilities under this Agreement and any or causes of action that you may have against any person or entity
associated documents are absolute and unconditional. Your payment other than us.
and performance obligations are not subject to cancelation,reduction, 7 Non-Appropriation You have an immediate need for,and expect to make
or setoff for any reason. You agree to settle all claims, defenses, immediate use of, the Units. This need is not temporary or expected to
setoffs, counterclaims and other disputes you may have with the diminish during the term of this Agreement. To that end, you agree, to the
Supplier,the manufacturer of the Unit,or any other third party directly extent permitted by law, to include in your budget for the current and each
with the Supplier,the manufacturer or the third party,as the case may successive fiscal year during the term of this Agreement,a sufficient amount
be. You will not assert,allege or make any such claim,defense,setoff, to permit you to discharge your obligations under this Agreement.
counterclaim or other dispute against us or with respect to the Notwithstanding any provision of this Agreement to the contrary,we and you
payments due us under this Agreement. As used in this Agreement, agree that,in the event that prior to the commencement of any of your fiscal
Payments"will mean the Lease Payments and any other amounts required years you do not have sufficient funds appropriated to make the Payments
to be paid by you. due under this Agreement for such fiscal year, you will have the option of
The portion of the Lease Payments constituting principal will bear interest terminating this Agreement as of the date of the commencement of such
(computed on the basis of actual days elapsed in a 360 day year)at the rate fiscal year by giving us sixty(60)days prior written notice of your intent to
of 3.20%per annum. terminate. No later than the last day of the last fiscal year for which
4. Late Charges If we do not receive a Payment on the date it is due,you will appropriations were made for the Payments(the"Return Date"),you will
F.-.GO E/SE SItY],i N0.NU IWIIl301B].3]PM CT
116PR11I
return to us all of the Units,at your sole expense,in accordance with Section Payment when due and such failure continues for ten(10)days after the due
14,and this Agreement will terminate on the Return Date without penalty or date for such Payment or (b) you fail to perform or observe any other
expense to you and you will not be obligated to pay the Lease Payments covenant,condition,or agreement to be performed or observed by you under
beyond such fiscal year; provided, that you will pay all Payments for which this Agreement and such failure is not cured within twenty (20) days after
moneys have been appropriated or are otherwise available; and provided written notice of such failure from us. Upon an Event of Default,we will have
further,that you will pay month to-month rent at the rate set by us for each all rights and remedies available under applicable law. In addition,we may
month or part of any month that you fail to return the Units. declare all Lease Payments due or to become due during the fiscal year in
which the Event of Default occurs to be immediately due and payable by you
8. Tax Warranty You will, at all times, do and perform all acts and things and/or we may repossess the Units by giving you written notice to deliver the
necessary and within your control to ensure that the interest component of Units to us in the manner provided in Section 14.or in the event you fail to do
the Lease Payments will, for the purposes of Federal income taxation, be so within ten (10) days after receipt of such notice, and subject to all
excluded from our gross income. You will not permit or cause your applicable laws,we may enter upon your premises and take possession of
obligations under this Agreement to be guaranteed by the Federal the Units. Further, if we financed your obligations under any extended
Government or any branch or instrumentality of the Federal Government. warranty agreement such as an Equipment Protection Plan, Extended
You will use the Units for the purpose of performing one or more of your Service Contract, Extended Warranty, Customer Service Agreement, Total
governmental functions consistent with the scope of your authority and not in Maintenance and Repair Agreement or similar agreement, we may cancel
any trade or business carried on by a person other than you. You will report such extended warranty agreement on your behalf and receive the refund of
this Agreement to the Internal Revenue Service by filing Form 8038G, the extended warranty agreement fees that we financed but had not received
8038GC or 8038,as applicable. Failure to do so will cause this Agreement from you as of the date of the Event of Default.
to lose its tax exempt status. You agree that if the appropriate form is not
filed, the interest rate payable under this Agreement will be raised to the 13. Miscellaneous This Agreement may not be modified, amended,altered or
equivalent taxable interest rate. If the use, possession or acquisition of the changed except by a written agreement signed by you and us. In the event
Units is determined to be subject to taxation,you will pay when due all taxes any provision of this Agreement is found invalid or unenforceable, the
and governmental charges assessed or levied against or with respect to the remaining provisions will remain in full force and effect. This Agreement,
Units. together with exhibits,constitutes the entire agreement between you and us
and supersedes all prior and contemporaneous writings, understandings,
9. Assignment You may not,without our prior written consent,by operation of agreements, solicitations, documents and representations, expressed or
law or otherwise,assign,transfer,pledge, hypothecate or otherwise dispose implied.Any terms and conditions of any purchase order or other documents
of your right, title and interest in and to this Agreement and/or the Units submitted by you in connection with this Agreement which are in addition to
and/or grant or assign a security interest in this Agreement and/or the Units, or inconsistent with the terns and conditions of this Agreement will not be
in whole or in part. We may not transfer,sell,assign,pledge, hypothecate, binding on us and will not apply to this Agreement.You agree that we may
or otherwise dispose of our right,title and interest in and to this Agreement correct patent errors in this Agreement and fill in blanks including, for
and/or the Units and/or grant or assign a security interest in this Agreement example,correcting or filling in serial numbers,VIN numbers,and dates.Any
and/or the Units,in whole or in part. notices required to be given under this Agreement will be given to the parties
10. Indemnity To the extent permitted by law,you assume liability for,agree to in writing and by certified mail at the address provided in this Agreement,or
and do indemnity,protect and hold harmless us and our employees,officers, to such other addresses as each party may substitute by notice to the other,
directors and agents from and against any and all liabilities, obligations, which notice will be effective upon its receipt.
losses, damages, injuries, claims, demands, penalties, actions, costs and 14. Title;Return of Units Notwithstanding our designation as"Lessor',we do
expenses (including reasonable attorney's fees), of whatsoever kind and not own the Units.Legal title to the Units will be in you so long as an Event of
nature, arising out of the use, condition(including, but not limited to, latent Default has not occurred and you have not exercised your right of
and other defects and whether or not discoverable by you or us),operation, non-appropriation.If an Event of Default occurs or if you non-appropriate,full
ownership,selection,delivery,storage,leasing or return of any item of Units, and unencumbered title to the Units will pass to us without the necessity of
regardless of where,how and by whom operated,or any failure on your part further action by the parties,and you will have no further interest in the Units.
to accept the Units or otherwise to perform or comply with any conditions of If we are entitled to obtain possession of any Units or if you are obligated at
this Agreement. any time to return any Units, then (a) title to the Units will vest in us
11. Insurance; Loss and Damage You bear the entire risk of loss, theft, immediately,and(b)you will,at your expense,promptly deliver the Unit to us
destruction or damage to the Units from any cause whatsoever. No loss, properly protected and in the condition required by Section 11. You will
theft, destruction or damage of the Units will relieve you of the obligation to deliver the Unit, at our option, (i) to the nearest Caterpillar dealer selling
make Lease Payments or to perform any obligation owing under this equipment of the same type as the Unit; or(ii)on board a carrier named by
Agreement. You agree to keep the Units insured to protect all of our us and shipping the Unit,freight collect,to a destination designated by us. If
interests, at your expense, for such risks, in such amounts, in such forms the Unit is not in the condition required by Section 11, you must pay us,on
and with such companies as we may require,including but not limited to fire demand, all costs and expenses incurred by us to bring the Unit into the
and extended coverage insurance, explosion and collision coverage, and required condition.Until the Units are returned as required above,all terms of
personal liability and property damage liability insurance. Any insurance this Agreement will remain in full force and effect including,without limitation,
policies relating to loss or damage to the Units will name us as loss payee as your obligation to pay Lease Payments and to insure the Units.
our interests may appear and the proceeds may be applied toward the 15. Other Documents In connection with the execution of this Agreement,you
replacement or repair of the Units or the satisfaction of the Payments due will cause to be delivered to us (i) either (A) a certified copy of your
under this Agreement.You agree to use, operate and maintain the Units in authorizing resolution substantially in the form attached as Attachment B and
accordance with all laws,regulations and ordinances and in accordance with a copy of the minutes of the relevant meeting or (B) an opinion of your
the provision of any policies of insurance covering the Units,and will not rent counsel substantially in the form attached as Attachment C;(ii)a Verification
the Units or permit the Units to be used by anyone other than you. You of Insurance substantially in the form attached to this Agreement;(iii)a copy
agree to keep the Units in good repair, working order and condition and of the signed Form filed with the Intemal Revenue Service required in
house the Units in suitable shelter,and to permit us or our assigns to inspect Section 8 above as Attachment D. and (iv) any other documents or items
the Units at any time and to otherwise protect our interests in the Units. If required by us.
any Unit is customarily covered by a maintenance agreement, you will
furnish us with a maintenance agreement by a party acceptable to us. 16. Applicable Law This Agreement will be govemed by the laws, excluding
12. Default;Remedies An"Event of Default"will occur if(a)you fail to pay any the laws relating to the choice of law,of the State in which you are located.
SIGNATURES LESSOR LESSEE
CATERPILLAR FIFJA ICIAIL SERVICES CORPORATION CITY OF BOZEMAN,
Signature Signature
Name(print) Name(print) f f_!; 1 Q v ~
A. 1f
matt Bar teil
Title El eeu (
entation Manager Title \ try �4,40,4 P r
Date Date ( 7
Fo m H.OCVL E 5205L1 HOOEPry 1W7t2019 3'.25 PIA CT
EXHIBIT 2
Concluding Payment Schedule to
Governmental Agreement
Quote number ......................................................... 537-4019
Dated ,20__
between
Caterpillar Financial Services Corporation
and
BOZEMAN,CITY OF
Description of Unit:1 RPMTECH 217 serial#3139RMP
Number
of
Payments Beginning Payment Interest Concluding
Date Due Made Balance Amount Balloon 3.20001% Payment(*)
Sep-09-16 1 82,877.00 13,933.21 0.00 0.00 68,943.79
Sep-09-17 2 68,943.79 13,933.21 0.00 2,206.21 57,216.79
Sep-09-18 3 57,216.79 13,933.21 0.00 1,830.94 45,114.52
Sep-09-19 4 45,1 14.52 13,933.21 0.00 1,443.67 32,624.98
Sep-09-20 5 32,624.98 13,933.21 0.00 1,044.00 19,735.77
Sep-09-21 6 19,735.77 13,933.21 0,00 631.55 6,434.11
Sep-09-22 7 6,434.11 0.00 6,640.00 205.89 0.00
total 83,599.26 6,640.00 7,362.26
(*)Does not include any rent payment or other amount then due.
Initialed:
(Lessee)
537-4019 Caterpillar Financial Services Corporation Page I