CONTRACT 3840 Vender Agreement CLOSEDMaster Equipment Lease Agreement # 60510 _ Equipment Lease Schedule No. I
LESSEE: City of El Segundo.
350 Main St
FI Segundo CA 90245 -3913
NATIONS BUS CORPORATION
Equipment lease Schedule
LESSOR: NATIONS BUS CORP
10219 Hawthorne Blvd
Inglewood CA 90304
3840 �...
This Equipment Lease Schedule ( "Lease Schedule ") entered into by and between Nations Bus Corp as LESSOR, and
the party designated below as LESSEE, dated July 14, 2009 (hereinafter "Master Lease '*).
I QUIPMFNT SCHED(111,
Description of Equipment:
Quantiqy_ Description
I (One) 2001 Krystal Koach KK24
Identification or
Serial Number
1 FDW E451'721 IA60789
Tax Leases: This Lease Schedule is a Tax Lease
Purchase Option: _, Fair Market Value Purchase Rider
Basic Rental Period Rent:
I. Monthly X 2. Advance X
Quarterly Arrears
Semiannual _
Annuallv
Monthly mileage
Garaging Location w/o surchar e
150 Illinois St 2,500
Ed Segundo CA 90245
Number of Advance Rentals: 2 .
3. Basic Rental shall be due on each of the following Basic Rental Payment Dates: The first payment shall be due on
the Acceptance Date written below with additional payments due on the same day of each month thereafter, for the Basic Rental
Period Term. The Basic Rental amount is $ 2.250 plus applicable tax, if any.
4. Basic Rental Period Term: 3 Months
Amount Due Upon Closing:
2 Months Rental(s)
Sales tax (if applicahe)
Documentation Fees
Subtotal
License
Total Due Upon Closing
Required Insurance:
Commercial General Liability:
S 4,500.00
S 371.25
S 95.(x)
$ 4,966.25
$ 613.00
$ 5,579.25
Minimum Limit
(a) Property Damage $ 1,(X)0,000.00
(b) Each Individual S 1,0(X),000.00
(c) Each Occurrence LOUQ000.00
(d) Annual Aggregate S l,000 (Xx).00
All -risk property:
(a) Replacement Cost.S24,000.0()
(h) Maximum deductible 5 5N:Oo
Additional riders or special terms required by Lessor. NONE:
Security Deposit• (CHECK ONE) _ Required Amount $
X Not Required — —
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Maximum Deductible
$1,0(Xi.00
$1,0(X). oo
$1 ()00_00
$1,000.00
3840 . ,
Master Equipment Lease Agreement li 60510 1 Equipment Lcase Schedule No. 1
FAIR MARKET VALUE PURCHASE RIDER
A. So long as no default exists hereunder and this Lease Schedule have not been earlier terminated, Lessee may on
the last day of the Term, upon at least (90) days, prior written notice to Lessor, purchase all (but not less than
all) of the Equipment on an AS IS, WHERE IS basis without recourse or warranty whatsoever as against Lessor
for cash equal to its then Fair Market Value (plus all applicable sales taxes) or Return the Equipment to Lessor.
B. Fair Market Value shall mean the price which a willing buyer would pay for the Equipment in an arm's length
transaction to a willing seller under no compulsion to sell: provided however, that in such determination: (a)
the Equipment shall be assumed to be in the condition in which it is required to be maintained and returned
under this Lease Schedule; (b) in case of any installed Equipment, the Equipment shall be valued on an installed
basis; and (c) costs of removal from current location shall not be a deduction from such valuation. If Lessor and
Lessee are unable to agree on the Fair Market Value at least sixty (60) days before the last day of the Term,
Lessee shall appoint an independent appraiser, reasonably acceptable to Lessor, to determine Fair market Value,
and that determination shall be final, binding and conclusive. Lessee shall bear all costs associated with any
such appraisal.
CERTIFICATE OF ACCEPTANCE
A. Lessee acknowledges that Equipment set forth in the above Equipment Schedule is unconditionally
accepted by Lessee for all purposes under this Lease Schedule and agrees to perform faithfully all of the
Lessee's obligations under this Lease Schedule with respect to Equipment as of the date hereof. Lessee
authorizes and directs Lessor to make payment to each vendor of Equipment pursuant to such Vendor's
invoice or any other purchase order, purchase agreement or supply contract with such Vendor, receipt and
approval of which are hereby acknowledged. This Certificate reaffirms all Lessee's representation,
obligations and acknowledgments as set forth in this Lease Schedule as of the date hereof and certifies that
Lessee is not in default under this Lease Schedule.
B. Lessee represents and warrants that: (i) Equipment has been delivered and is in operation for which
Equipment is intended, to the satisfaction of Lessee; and (ii) if requested by Lessor, Equipment has been
marked or labeled evidencing Lessor's interest therein.
C. Upon payment to the Vendors for equipment indicated in the above Equipment Schedule, there will be no
liens, security interest or encumbrances against the Equipment except the interest of LESSEE under Master
Lease.
D. The Rental Period starting date is the Acceptance Date indicated below, with the Amount Due Upon
Closing due on the Acceptance Date.
E. Lessee agrees to pay Lessor rental payments as set forth in the Equipment Schedule section of this Lease
Schedule. All applicable taxes will be due in the manner set forth in the above Equipment Schedule.
IN THE WITNESS WHEREOF, under this Lease Schedule are agreed to on the date written below and arc accepted
by:
DATE:
LESS C TY EL S NDO
By:
Its
Page 2 of 2
,��� ifs Ll .:••,
City Cork
City of El Segundo
DATE: % — --2- Z " 2 U O �r
LESSOR: ATIONS BUS CORP
By:
Its
Master Equi )ment Lease Agreement # 60510 Equipment Lease Schedule No. I
NATIONS BUS CORPORATION
EXHIBIT "A" TO EQUIPMENT LEASE SCHEDULE
LESSEE: City of EI Segundo.
350 Main St
El Segundo CA 90245 -3813
LESSOR: NATIONS BUS CORI"
10219 Hawthorne Blvd
Inglewood CA 90304
3840
This Exhibit "A" to the Equipment [.ease Schedule ( "Lease Schedule ") dated July 14, 2008 forms a part of such
Lease Schedule of this Master Lease Agreement entered into by and between Nations Bus Corp as LESSOR, and the party
designated below as LESSEE ( "Lessee "). (hereinafter "Master Lease ").
Identification or Monthly Mileage
Quantity Description Serial Number Garaging Location w/o surchar
I (One) 2001 Krystal Koach KK24 IFDWEF72HA60789 150 Illinois St. 2,500
El Segundo CA 90245
IN WITNESS WHEREOF, this Exhibit "A" to this Master Equipment Lease Schedule Agreement. is agreed to and
made a part of the Lease Schedule on the date written below and is accepted by:
DATE:
LESSEE: CITY OF EL SEC; N DO
Its
Page I of I
DATE: 7 — Z Z —2—v G
LESSOR: N "LIONS BUS CORP
By:
Its
Master Equipment Lease Agreement # 60510 Equipment Lease Schedule No. l
NATIONS BUS CORPORATION
EXHIBIT "B" TO EQUIPMENT LEASE SCHEDULE
LESSEE: City of El Segundo.
350 Main St
El Segundo CA 90245 -3813
Maintenance and Repair
LESSOR: NATIONS BIDS CORP
10219 Hawthorne Blvd
Inglewood CA 90304
Lessee at all times will maintain the Equipment in a condition and manner suggested by the original manufacturer as
required to validate any warranty.
2. Lessee will use only manufacturer's approved replacement parts and components in the performance of any
maintenance and repair of the Equipment.
3. Lessee will maintain current maintenance and repair records for the Equipment in a usable manner.
4. Lessee will at all times maintain the Equipment in good operational condition and appearance. and cannot
discriminate such maintenance between owned or leased Equipment.
Return Condition
I. The Equipment will be in a condition whereby it can be put immediately into revenue service at its original
designated function and capacity.
2. All tires will be matched by generic type and tread design, free of cracks, cuts or rips, and with a minimum of 50%
new tire tread remaining.
3. All air and fluid lines will be free of any leaks, cuts and cracks, and the controls will operate as designed.
4. The engine will operate to manufacturer's original specifications, will meet the current smoke emission standards
and will free be of oil leaks.
5. All transmissions, clutches and drive trains will function properly with no slipping or grabbing.
6. Brakes will hold unit as specified by original manufacturer without fading. No heat discoloration or warpage on
brake cylinder, disks. wheels or pads, and brakes will have 50c1c of new pads or shoes thickness remaining.
7. All shocks, springs and coils will be in good operating condition and meet original manufacturer's specifications.
8. Radiator and cooling system will be free of leaks, punctures or holes, and be able to maintain unit in normal
operating temperature range as specified by original manufacturer.
9. All glass will be free of cracks, chips and intact and operational as originally designed.
10. Bodies will be free of damage and paint will he in good condition.
11. All interiors will be in good condition with sews and bedding being free of cuts, tears, rips or burns.
12. Electrical system will be in good operating condition with wiring free of cuts. breaks or cracks. and batteries being
able to maintain a charge in accordance with original manufacturer's specifications.
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13. Mileage: Average annual mileage shall not exceed twenty -five hundred (2,500) miles per month of the Term unless
otherwise noted on the Schedule. Should mileage exceed this limit. Lessee agrees to pay a mileage surcharge of
twenty cents (5.20) per mile for excess mileage. Odometer shall he kept in correct working: order throughout the
Term ofthe Lease.
DATE: _
LESSEE: IT OF EL SEGUNDO
By: _
Its
Page 2 of 2
DATE: 7" �7– Z—zLeS
LESSOR• TIONS BUS CO P
By: —.. .
Its