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CONTRACT 3432 Leasing Agreement CLOSEDLESSEE Municipal / Governmental Lease Purchase Agreement Opinion of Lessee's Counsel CITY OF EL SEGUNDO LESSOR Deere Credit, Inc. 3 , 7 ' LESSEE'S STATE CA DATE OF LEASE 12/01/2004 Gentlemen: As counsel for Lessee, I have examined duly executed between Lessee and LessoEquipment , and the proceedings Agreement (the "Lease ") entered into on the above date b taken by Lessee to authorize and execute the Lease. Based upon this and such other examinations as I have deemed necessary or appropriate, I am of the opinion 1. Lessee is a public body corporate and politic, or a political subdivision thereof, legally existing under the laws of the State indicated above; 2. This Lease has been duly, aut "P¢e xecuted, and delivered by Lessee; 3. This Lease is a legal, vali 71 an iI g 9�ligation of Lessee, enforceable in accordance with its terms. Counsel for Lessee ' l` JOHN DEERE MUNICIPAL EJOBNDEERE CREDIT Master Lease Schedule LESSEE'S NAME & AUUKr -" CITY OF EL SEGUNDO DBA THE LAKES AT EL SEGUNDO GOLF COURSE 350 MAIN STREET EL SEGUNDO, CA 90245 SUPPLIER'S (DEALER'S) NAME & ADDKLSS tnaw m .+ - -- CASCADE TURF, LLC DBA AA EQUIP 4811 BROOKS STREET MONTCLAIR,CA 91763 LESSOR. DEERE CREDIT, INC., 6400 NW 86m STREET., JOHNSTON, IA 50T131-6 See Attached Addendum for Equipment Description. STATE EQUIPMENT LOCATION CITY EL SEGUNDO CA Check here if OUTSIDE COUNTY ZIP COD city limits: 0 I LOS ANGELES 1 90245 01/01/2005 03/01/2009 I $ 0.00 Renewal Date I Renewal Term ❑ MONTHLY PAYMENTS 0 PAYMENTS OTHER THAN MONTHLY ❑ PAYMENT SCHEDULE ATTACHED (optional) ❑ AGRICULTURAL O COMMERCIAL ❑ CONSTRUCTION of Pmts. I Lease ra mem 5 $25,986.26 No. of Pmts. I Lease Payment 11 2 . c AND SCHEDULE NUMBER X ID OK SUL. Sn, 956000706 5-1876 PHYSICAL DAMAGE INSURANCE ❑John Deere Insurance Purchased OProof of Insurance Attached c Tax Use Tax Total Leasc Pa ment $ 0.00 $ 0.00 $25,98In Use Tax Total Lease Payment Date Monthly Pmts Begin 02/01/2005 I Payments are due on day: 01 ANNUAL PAYMENTS BEGINNING 2/1/05 ADVANCE LEASE PAYMENT $ 0.00 Advance Includes the first 0 Payment(s) and Last 0 Payment(s). LESSEE HEREBY DEPOSITS WITH LESSOR THE SUM SHOWN AT THE LEFT AS A SECURITY DEPOSIT FOR THE FAITHFUL SECURITY DEPOSIT $ 0.00 PERFORMANCE BY LESSEE OF THE COVENANTS AND CONDITIONS OF THE LEASE. All of the terms and conditions set forth In the above referenced John Deere Golf and Turf Master Lease Agreement or Municipal /Governmental Lease Purchase Agreement and any Equipment Addendum or Payment Schedule attached hereto are herby Incorporated Into and made a part of this Master Lease Schedule. Lessee acknowledges lessor may (1) require an Advance Lease Payment Add Add (I) deposit such payment prior to accepting this Lease without constituting an acceptance of the Lease. If Lessor does not accept this Lease, it shall promptly return the Advance Lease Payment to and ( Lessee. CITY OF EL SEGUNDO DBA THE LAKES AT EL SEGUNDO Lessee: GOLF COURSE By MARY STRENN, CITY MANAGER By Date Lessee: By Dat Date By Date Lessor: Deere Credit, Inc. By Title Date FORM 540MLS -US App No: 81496 LESSOR: DEERE CREDIT, INC. By: Product Service Representative Date Accepted: N LESSEE: CITY OF EL SEGUNDO DBA THE LAKES AT EL SEGUNDO GOLF COURSE By: R NN CITY MANAGER Date: } Municipal/Governmental Lease Purchase Agreement DEALER ACCOUNT NO LEASE NUMBER 55-1876 LEASE PURCHASE AGREEMENT (`this Lease's entered into as of the 01 day of January, 2005, between Deere Credit, Inc. EGUNDO a municipal corporation or political subdivision of the State of CA ("Lessee'. ( Lessor's and CITY OF EL S , L. TERMS & PAYMENTS — Lessor leases to Lessee, and Lessee leases from Lessor, all of the equipment described in one or more Exhibits, attached to and made a part of this Lease. The tens "Equipment" as used herein shall refer collectively to the equipment described in all Exhibits attached to this Lease. Lessee agrees to pay Lease Payments in advance on the dates shown on various Exhibits which may be attached to this Lease and executed by Lessor and Lessee from time to time (collectively referred to as "Payment Schedule', with a portion of each Lease Payment to represent payment of interest and a portion to represent payment of principal as shown on the Payment Schedule. 2. PROPERTY TAXES, LICENSE FEES, ETC. - In addition to the Lease Payments to be made pursuant to Section 1, Lessee agrees to pay, and to indemnify and hold Lessor harmless from all license, sales, use, personal property or other taxes, penalties, fines, interest or charges of any kind that may be assessed or charged against the Equipment or use thereof. 3. LESSEE'S COVENANTS & REPRESENTATIONS - Lessee represents ch and warrants as follows for the benefit of Lessor s del'veringuan representations and warranties being continuing), a opinion of its counsel dated the date hereof, in form and substance to satisfactory to Lessor, into this and make the following representations and warranties:ter 3.1 Lessee is a public body corporate and politic, or a political subdivision thereof, legally existing under the laws of the State of CA; 3.2 This Lease has been duly authorized, executed and delivered by Lessee; 3.3 This Lease is a legal, valid and binding obligation of Lessee, enforceable in accordance with its terms Lessee further represents and warrants as follows: Lessee will do all things lawfully within its power to obtain and maintain funds from which the Lease Payments may be made, including making provision for such payments to the extent necessary in each biannual or annual budget submitted for the purpose of obtaining funding, using its bona fide best efforts to have such portion of the budget approved and exhausting all available reviews and appeals in the event such portion of the budget is not approved. To the knowledge of Lessee, there are no circumstances affecting the Lessee that could reasonably be expected to alter its foreseeable need for the Equipment or adversely affect its ability or willingness to budget funds for the payment of sums due hereunder. There are no actions, lawsuits, or proceedings pending or, to the knowledge of Lessee, threatened against or affecting Lessee in any court or before any governmental commission, board or authority which, if determined adversely against Lessee, would have a material adverse effect on the ability of Lessee to perform its obligation under this Lease. This Lease will not constitute a "private activity bond" within the meaning of Section 141 of the Internal Revenue Code in that Lessee will not sublease the Equipment, nor will Lessee enter into any management, output, or similar types of contracts where more than 10 percent of the proceeds of the lease- purchase agreement will be used for one or more private business uses or where the payment of the principal of, or interest on, more than 10 percent of the proceeds of this Lease will be made, either directly buindirectly, by payments, property, or monies borrowed by private (The term "private business use" means any direct or indirect use in a trade or business carried on by an individual or entity other than a state or local governmental unit, including use by the Federal Government or any agency thereof. A special exemption is provided for "exempt facility bonds" and "501(c) (3) [tax - exempt organization] bonds ".) 3.4 3.5 3.6 3.7 This Lease will be used for governmental or 501(c) (3) purposes and thus, will not constitute an investment. This Lease was not created for the purpose of arbitrage. Nevertheless, should a "Certificate of Arbitrage" be required, this Section is deemed to be such a Certificate, executed and delivered in accordance with the provisions of Section 1.103 -13, 1.103 -14 and 1.103 -15 of the Income Tax Regulations. And by the signature of the Lessee below, the Lessee certifies that the Lessee has not been notified by the Internal Revenue Service of any listing or proposed listing of the Lessee as an issuer whose arbitrage certificate may not be relied upon. 3.9 Lessee will report this Lease to the Intemal Revenue Service by filing form 8038 -G or 8038 -GC, whichever is appropriate. Lessee understands that failure to do so will cause the Lease to lose its tax exempt status. Therefore, Lessee agrees that if it fails to file the appropriate form, the interest rate set forth in the Payment Schedule will be adjusted to an equivalent taxable interest rate. NON - APPROPRIATION OF FUNDS 4.1 In the event funds are not budgeted and appropriated in any fiscal year for Lease Payments due under this Lease for the then current or succeeding fiscal year, this Lease shall impose no obligation on the Lessee as to such current or succeeding fiscal year and shall become null and void except as to the Lease Payments herein agreed upon for which funds shall have been appropriated and budgeted, and no right of action or damage shall accrue to the benefit of Lessor, Its successors or assigns, for any further payments. 4.2 If the provisions of Section 4.1 are utilized by Lessee, Lessee agrees to immediately notify the Lessor or his assignee of this Lease if funds are not budgeted and appropriated, to peaceably surrender possession of the Equipment to Lessor or its assignee and that it will not purchase, lease or rent equipment performing functions similar to those performed by the Equipment for a period of ninety (90) days from the date of surrender of the Equipment. EARLY TERMINATION / PREPAYMENT — In the event Lessee should desire to terminate this Lease in its entirety or for any piece of equipment described in any Exhibit attached hereto, or prepay its obligation on any Lease Payment due date prior to the end of the Lease Term, for reasons other than non - appropriation of funds as described in Section 4, the following options are available: 5.1 Lessee may request Lessor to sell the Equipment for a fair market price, and Lessee shall pay Lessor the Termination Value shown on the Payment Schedule less the net proceeds received from the sale of the Equipment. 5.2 Lessee, having complied with the terms and conditions of this Lease, shall have the option to prepay its obligation by paying the Termination Value shown on the Payment Schedule. NEW EQUIPMENT WARRANTY - Lessee acknowledges and agrees (a) that the Equipment was selected by Lessee; (b) that Lessee is satisfied that the same is suitable for its purpose; (c) that Lessor is not a manufacturer thereof nor a dealer in property of such kind; and (d) THAT LESSOR HAS NOT MADE, AND DOES NOT HEREBY MAKE, ANY REPRESENTATION OR WARRANTY OR COVENANT WITH RESPECT TO THE MERCHANTABILITY, AND CONDITION, QUALITY, DESCRIPTION, DURABILITY OR SUITABILITY OF ANY SUCH UNIT IN ANY RESPECT O N ONNECIION WITH 0 FOR OR THE PURPOSES AND USES OF L SSSEE. Lessor hereby assigns to Lessee, to the extent assignable, any warranties, covenants, and representations of the vendor with respect to the Equipment, provided that any action taken by Lessee by reason thereof shall be at the sole expense of the Lessee and shall be consistent with the Lessee's obligations pursuant to the terms of this Agreement. (Continued on Reverse Side) ADDITIONAL PROVISIONS CONCERNING KiGri I, Ur 1 F1 rnr 1 . - - - . - -- - NOTICE: THE DEALt:K HAzi, NO AUTHOR TO MAKE ANY OF LESSOR OR TO MODIFY THE TERMS OF THIS EASE IN ANY WAY. LESSEE: CITY OF EL SEUNDO REPRESENTATION OR PROMISE ON BEHALF LESSOR: DEERE CREDIT, INC. r By By Title MARY STRENN, CITY MANAGER Title Date accepted 81496 FORM 540MUNI -US ADDITIONAL PROVISIONS CONCERNING RIGHTS OF THE PARTIES 10. TITLE — Title to the Equipment shall pass to Lessee immediately upon acceptance of the Equipment by Lessee, subject to Lessor's security interest. Upon termination of this Lease under Section 4, Section 5.1 or Section 7, title to the Equipment shall revert to Lessor. 11. SECURITY INTEREST — As security for Lessee's covenants and obligations under this Lease, Lessee grants to Lessor and its assignee a security interest in the Equipment and all attachments, additions, accessions and substitutions to or for the Equipment. Lessor may file any financing statements that Lessor deems necessary to perfect its interest in the equipment. 12. LOSS OR DAMAGE TO EQUIPMENT - All risk of loss or damage to the Equipment is assumed by Lessee until it is returned to Lessor. In the event of total loss of the Equipment, Lessee shall pay Lessor the Termination Value shown on the Payment Schedule for the current Lease Payment date, less proceeds of insurance and salvage value of the Equipment. 7. DEFAULT & LESSOR'S REMEDIES 7.1 The occurrence of one or more of the following events shall constitute an Event of Default, whether occurring voluntarily, by operation of law or pursuant to any order of any court or governmental agency: 7.1.1 Failure by Lessee to pay any Lease Payment within thirty (30) days of the time specified; 7.1.2 agreement failure of Lessee hereunder other reunder for aperiod of thirty (30) days after notice thereof: 7.1.3 Lessee shall make, permit or suffer any unauthorized assignment, transfer or other disposition of this Lease, or any interest herein or of any item(s) of the Equipment or interest therein; 7.1.4 Any other event, the occurrence of which causes Lessor to deem itself insecure. 7.2 upon the occurrence of any Event of Default specified herein, Lessor may exercise any or all of the following remedies: 7.2.1 Enforce this Lease by appropriate action to collect amounts due or to become due hereunder, by acceleration or otherwise. 7.2.2 Terminate this Agreement and repossess the Equipment, in which event Lessee shall be liable for any amounts payable hereunder through the date of such termination and all costs and expenses (including, but not limited to reasonable attorneys' fees) incurred by Lessor in connection therewith. 7.2.3 Sell the Equipment at public or private sale or rent or lease the equipment. In the event the proceeds of such sale, less the costs of repossession (including reasonable attorneys' fees and the costs of sale) and internal allocated costs and less any past due Lease Payments or interest owing by Lessee ((the "disposition credit'j, do not equal the applicable Termination Value on the current Lease Payment date, then Lessee shall be liable for the difference between said disposition credit and such Termination Value. 7.2.4 Pursue and exercise any other remedy available At law or in equity, in which event Lessee shall be liable for any and all costs and expenses (including but not limited to reasonable attomeys' fees) incurred by Lessor in connection therewith. S. INTEREST ON DEFAULT — If Lessee fails to pay any Lease Payments(s) specified in Section 1 within ten (10) days after the date due, Lessee shall pay Lessor interest on such delinquent Lease Payment(s) from the due date until paid at the lower of twelve percent (12 9%) per annum or the highest rate permitted by law. ASSIGNMENT & SUBLEASE SELL, LESSEE SHALL NOT ASSIGN, HYPOTHECATE THIS LEASE, THE A PLEDGE HE EQUIPMENT MENT OR ANY PART THEREOF, OR ANY INTEREST THEREIN, OR PERMIT THE EQUIPMENT OR AY PART THEREOF TO BE USED BY ANYONE OTHER THAN LESSEE OR ITS EMPLOYEES. EXCEPT TO ITS CORPORATE AFFILIATES, LESSOR SHALL NOT SELL, ASSIGN, TRANSFER, PLEDGE OR HYPOTHECATE THIS LEASE TO ANYONE. 13. INSURANCE 13.1 Lessee, at its own expense, will carry Comprehensive General Liability insurance including contractual liability with minimum limits of $1,000,000 bodily injury each occurrence and $250,000 property damage each occurrence. Lessee also agrees to have its insurer include Lessor and its assigns as Additional Insureds. 13.2 Lessee, at its own expense, shall keep the Equipment insured against all risk of physical damage for no less than its actual cash value. Such insurance shall include a loss payable clause made out in favor of the Lessor, and the proceeds of same insurance, at the option of Lessor, shall be applied toward the replacement, restoration or repair of said Equipment, or to payment of any obligation to Lessee hereunder. PAYMENT OF ANY INSURANCE PROCEEDS SHALL NOT AFFECT LESSEE'S OBLIGATIONS UNDER SECTION 12, INCLUDING ITS OBLIGATION TO PAY ANY DIFFERENCE BETWEEN TERMINATION VALUE /OPTION PRICE AND INSURANCE PROCEEDS AND SALVAGE PROCEEDS RECEIVED BY LESSOR. Alternatively, upon prior approval by Lessor, Lessee may meet this requirement by furnishing Lessor with satisfactory proof of self- insurance and of Lessee's ability to meet its obligations hereunder. 13.3 Lessee shall deliver to Lessor certificates or other evidence satisfactory to Lessor that insurance is maintained as required under Section 13.1 and 13.2 until Lessee is no longer liable for loss or damage to the Equipment as provided in Section 12 hereof. Such insurance shall be effective from the date of the Lease and shall include a clause obligating the insurer to give Lessor not less than fifteen (15) days prior written notice any material change in or cancellation of the insurance. If Lessee a fails to deliver evidence of physical damage insurance or to maintain such insurance in force until Lessee is no longer liable for loss or damage to the Equipment under Section 12, it is understood that the Lessor may, bust shall not be obligated to purchase such insurance. Lessee agrees to pay the cost thereof at such time as Lessor demands or to have the cost thereof added to the Lease Payments due hereunder, at the sole discretion of Lessor. ®JOAN DEERE Master Lease Schedule - Equipment Addendum CREDIT LESSEE'S FULL LEGAL NAME CITY OF EL SEGUNDO DBA THE LAKES AT EL SEGUNDO GOLF COURSE t.FCCFF'S NAME LESSOR: DEERE CREDIT, 6400 NW 867" STREET., JOHNSTON, IA 50131 -6600 Eouipment Description Manuf. Model 1 JD 2653A 1 JD 2500A 1 JD 2500A 1 1D N/A 1 JD 2020 1 JD TD100 1 JD 800 1 JD HPX 1 JD HPX 6400 NW 867" STREET., JOHNSTON, IA 50131 -6600 Eouipment Description Serial Number JOHN DEERE 2653A TRIPLEX GREENSMOWER TC2653D121057 JOHN DEERE 2500A TRIPLEX TEE MOWER TC250AD020738 JOHN DEERE 2500A TRIPLEX TEE MOWER TC250AD020740 JOHN DEERE TRIPLEX VERTICUTS N/A 1 JOHN DEERE 2020 PROGATOR W/ HD200 TC202OA040438 SPRAYER S/N TC200GX035097 JOHN DEERE TD100 TOP DRESSER VG100GX025213 JOHN DEERE 800 AERCORE AERATOR TC800AC050365 JOHN DEERE HPX GATOR W/ CANOPY N/A 2 JOHN DEERE HPX GATOR W/ CANOPY N/A 3 X14 pp .. AND SCHEDULE NUMBER LESSEE'S TAX ID OR SOC- SEC. S 956000706 Max Firs Excess Chre Hr. Meter THIS EQUIPMENT ADDENDUM IS HEREBY INCORPORATED INTO AND MADE A PART OF THE ABOVE REFERENCED MASTER LEASE SCHEDULE. CITY OF EL SEGUNDO DBA THE LAKES AT EL SEGUNDO Lessee: GOLF COURSE Rv MARY STRENN, CITY MANAGER Date Date Lessee: By Date By Date of this date, I hereby acknowledge that (1) the Equipment listed above has been delivered to and accepted by Lessee under the terms of the Master Lease Schedule, Owner's Manuals were received and the safe operation and the proper servicing of the Equipment were explained to me, and (3) the written warranty applicable to the uipment was received and I understand that the rights of Lessee are limited, as set forth therein. aTE LESSEE'S SIGNATURE FORM 540MLE -US App. No. 81496 Customer Responsibility for Physical Damage Insurance 74, 7) 2 Equipment Addendum CITY OF EL SEGUNDO DBA THE LAKES AT EL SEGUNDO GOLF Application number: 81496 Lessee: COURSE Lessee: EQUIPMENT DESCRIPTION Manuf. Model 1 JD 2653A 1 JD 2500A 1 JD 2500A 1 JD N/A 1 JD 2020 J. JD TD100 1 JD 800 1 JD HPX 1 JD HPX EQUIPMENT DESCRIPTION Equipment Description Serial Number JOHN DEERE 2653A TRIPLEX GREENSMOWER TC2653D121057 JOHN DEERE 2500A TRIPLEX TEE MOWER TC250AD020738 JOHN DEERE 2500A TRIPLEX TEE MOWER TC250AD020740 JOHN DEERE TRIPLEX VERTICUTS N/A 1 JOHN DEERE 2020 PROGATOR W/ HD200 SPRAYER S/N TC202OA040438 TC200GX035097 JOHN DEERETD100 TOP DRESSER VGIOOGX025213 JOHN DEERE 800 AERCORE AERATOR TC800AC050365 JOHN DEERE HPX GATOR W/ CANOPY N/A 2 JOHN DEERE HPX GATOR W/ CANOPY N/A 3 I (We) agree and understand that under the terms of my (our) Master Lease Agreement with you, I (We) must at all times keep the Goods insured against all risk loss, damage, or destruction for it's full- insurable value, with Deere Credit, Inc. listed as loss payee. Lessee Sign tC r Lessee Signature (if applicable) FORM 540MLE -US App. No. 81496 Date Date 12/02/2004 Pagel CITY OF EL SEGUNDO Compound Period ..........: Monthly Nominal Annual Rate ......: 4.950 % Effective Annual Rate .....: 5.064 % Periodic Rate ....................: 0.4125 % Daily Rate .........................: 0.01375 % CASH FLOW DATA Event Start Date Amount Number Period End Date 1 Loan 01/01/2005 117,511.00 1 2 Payment 01/01/2005 0.00 1 3 Payment 02/01/2005 25,986.26 0.00 1 11 Monthly 01/01/2006 4 Payment 03/01/2005 5 Payment 02/01/2006 25,986.26 0.00 1 11 Monthly 01/01/2007 6 Payment 03/01/2006 7 Payment 02/01/2007 25,986.26 0.00 1 11 Monthly 01 /01/2008 8 Payment 03/01/2007 9 Payment 02/01/2008 25,986.26 11 Monthly 01/01/2009 10 Payment 03/01/2008 .00 11 Payment 02/01/2009 25,986.26 1 12 Payment 03/01/2009 0.00 1 AMORTIZATION SCHEDULE - Normal Amortization, 360 Day Year Date Payment --Interest----.. Principal_ Balance 117,511.00 Loan 01/01/2005 0.00 0.00 0.00 117,511.00 1 01/01/2005 2 02/01/2005 25,986.26 484.73 25,501.53 92,009.47 3 03/01/2005 0.00 379.54 379.54- 92,389.01 4 04/01/2005 0.00 381.10 381.10- 92,770.11 5 05/01/2005 0.00 382.68 382.68- 93,152.79 6 06/01/2005 0.00 384.26 384.26- 93,537.05 7 07/01/2005 0.00 385.84 385.84- 93,922.89 8 08/01/2005 0.00 387.43 387.43- 94,310.32 9 09/01/2005 0.00 389.03 389.03- 94,699.35 10 10/01/2005 0.00 390.63 390.63- 95,089.98 11 11/01/2005 0.00 392.25 392.25- 95,482.23 12 12/01/2005 0.00 393.86 393.86- 95,876.09 2005 Totals 25,986.26 4,351.35 21,634.91 13 01/01/2006 0.00 395.49 395.49- 96,271.58 14 02/01/2006 25,986.26 397.12 25,589.14 70,682.44 15 03/01/2006 0.00 291.57 291.57- 70,974.01 16 04/01/2006 0.00 292.77 292.77- 71,266.78 17 05/01/2006 0.00 293.98 293.98- 71,560.76 18 06/01/2006 0.00 295.19 295.19- 71,855.95 19 07/01/2006 0.00 296.41 296.41- 72,152.36 20 08/01/2006 0.00 297.63 297.63- 72,449.99 21 09/01/2006 0.00 298.86 298.86- 72,748.85 12/02/2004 Page CITY OF EL SEGUNDO 25 01/01/2007 Date Payment Interest Principal Balance 22 10/01/2006 0.00 300.09 300.09- 301.33- 73,048.94 73,350.27 23 11/01/2006 0.00 0.00 301.33 302.57 302.57- 73,652.84 24 2006 12/01/2006 Totals 25,986.26 3,763.01 22,223.25 201.61- 25 01/01/2007 0.00 303.82 303.82- 25,681.19 73,956.66 48,275.47 26 02/01/2007 25,986.26 0.00 305.07 199.14 199.14- 48,474.61 27 03/01/2007 0.00 199.96 199.96- 48,674.57 28 04/01/2007 0.00 200.78 200.78- 48,875.35 29 05/01/2007 30 06/01/2007 0.00 201.61 201.61- 49,076.96 31 07/01/2007 0.00 202.44 202.44- 49,279.40 32 08/01/2007 0.00 203.28 203.28- 49,482.68 33 09/01/2007 0.00 204.12 204.12- 49,686.80 34 10/01/2007 0.00 204.96 204.96- 49,891.76 35 11/01/2007 0.00 205.80 205.80- 206.65- 50,097.56 50,304.21 36 12/01/2007 0.00 206.65 2007 Totals 25,986.26 2,637.63 23,348.63 37 01/01/2008 0.00 207.50 207.50- 50,511.71 38 02/01/2008 25,986.26 208.36 25,777.90 24,733.81 39 03/01/2008 0.00 102.03 102.03- 24,835.84 40 04/01/2008 0.00 102.45 102.45- 102.87- 24,938.29 25,041.16 41 05/01/2008 0.00 0.00 102.87 103.29 103.29- 25,144.45 42 06/01/2008 43 07/01/2008 0.00 103.72 103.72- 25,248.17 44 08/01/2008 0.00 104.15 104.15- 25,352.32 45 09/01/2008 0.00 104.58 104.58- 25,456.90 46 10/01/2008 0.00 105.01 105.01- 25,561.91 47 11/01/2008 0.00 105.44 105.44- 25,667.35 48 12/01/2008 0.00 105.88 105.88- 25,773.23 2008 Totals 25,986.26 1,455.28 24,530.98 49 01/01/2009 0.00 106.31 106.31- 25, 879.54 50 02/01/2009 25,986.26 106.75 25,879.51 0.03 51 03/01/2009 0.00 0.03- 0.03 0.00 2009 Totals 25,986.26 213.03 25,773.23 Grand Totals 129,931.30 12,420.30 117,511.00 December 3, 2004 VIA FACSIMILE: (323) 664-7526 Rocky Bare — Golf and Turf Leasing Department Deere Credit, Inc. 64Oo NW 861h Street Johnston, IA 50131 -6600 Subject: Proof of Liability Insurance Coverage — Application number: 81496 Mr. Bare: The City of El Segundo is self- insured for the first $400,000 on each general liability claim against the City. Therefore the City would be solely responsible for Goods leased under the abovementioned application number 81496 as described in the Customer Responsibility for Physical Damage Insurance document (Form 54OPDI -US) with Deere Credit, Inc. If you have any additional questions please call me. Sincerely, J. Richard Hogate Risk Manager /Purchasing Agent Voice: (310) 524-2339 Fax: (310) 322 -2756 e -mail: rtiogateL7,else undg.org c: Stacia Mancini, Recreation & Parks Dept. file Deere Credit, Inc. Lakes Turf Equipment Lease - December 3, 2004 ®JOHN D , RE Customer Responsibility for Physical Damage Insurance CREDIT CITY OF EL SEGUNDO DBA THE LAKES AT EL SEGUNDO GOLF Application number: 81496 Lessee: COURSE Lessee: PHYSICAL DAMAGE INSURANCE for the equipment on the attached lease will be provided by the agency listed below: Phone Number of Insurance Agency: Name of Insurance Agency: Fax Number of Insurance Agency: Mailing Address of Insurance Agency: Policy # I (We) agree and understand that under the terms of my (our) Master Lease Agreement with you, I (We) must at all times keep the Goods insured against all risk loss, damage, or destruction for the greater of its full- insurable value, with Deere Credit, Inc. listed as loss payee. Date Lessee ig re Date Lessee Signature Send to John Deere Credit with the Lease Agreement and applicable schedule(s) Named Insured and Loss Payee: EQUIPMENT DESCRIPTION. See Attached Addendum. Deere Credit, Inc. P.O. Box 6600 Johnston, IA 50131 -6600 FORM 540PDI -US :5 e-&_ lam' P ♦P-% %.. L's