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Governmental Equipment Lease-Purchase Agreement CAT"
<br /> Transaction Number 3711722 Financial
<br /> 1• PARTIES
<br /> LESSOR("we' "us' or"our): LESSEE("you'or"your):
<br /> CATERPILLAR FINANCIAL SERVICES CORPORATION CITY OF REDLANDS
<br /> 2120 West End Avenue 36 CAJON ST
<br /> Nashville,TN 37203 REDLANDS,CA 92373-4786,
<br /> In reliance on your selection of the,equipment desbribed below(each a"Unit"),we have agreed to acquire and lease the Units to you,subject to the
<br /> 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
<br /> this Lease with us on the terms stated herein.
<br /> 2. DESCRIPTION OF THE UNITS
<br /> DESCRIPTION OF uteri :SERINAltt ANNUAL _FINAL LEASE butivuut DATE
<br /> Whether IheUnit is new or treed,the Umy'ue ID number for -_CEASE PAYMENT PAYMENT Eater date maohmewes
<br /> model number,the ma ufacture thie Uhiti Phis is due per ',deli'e eel to you
<br /> and the modelname. _ period,as"stated below in section 3. ,
<br /> (1)New 930M Caterpillar Wheel Loader KTG05163 $51,093.92 $101.00
<br /> TERMS AND CONDITIONS
<br /> 3. Lease Paytlients;Current Expense You will pay us the lease payments, pay to us, on demand, a late payment charge equal to the lesser of five
<br /> including the final lease payment set forth above (collectively, the "Lease percent(5%)of such Payment or the highest charge allowed by law.
<br /> Payments"). Lease Payments will be paid by you to us as followsi a first 5, Security Interest To secure your obligations under this Agreement, you
<br /> payment of$51,093.92 will be paid in advance and the balance of the Lease pant us a continuingfirst prioritysecurityinterest in each Unit(includingany
<br /> Payments Is payable in 5 successive annual payments of which the first 4 9
<br /> payments are In the amount of$51,093.92 each,and the last payment is in Additional Collateral), Including all attachments, adeessoaas and optional
<br /> the amount of$101.00 plus all other amounts then owing under this Lease, featurescents, r o notaccessions,installed n such Units) and alle substitutions,althe
<br /> with the first Lease Payment due on the date that we sign this Lease and foregoing,incl additions,tand limitedto, r paroceeds
<br /> in the proceeds tto all the
<br /> subsequent Lease Payments due on a like date of each year thereafter until foregoing, rize theg,but not in acing statements the form andod chattel paper.
<br /> your.
<br /> paid in full.A portion of each Lease Payment constitutes interest and the You autgorize actan of such financing will, to
<br /> balance of each Lease Payment is payment of principal. The Lease expense, do any and execute, acknowledge, deliver, file, register and
<br /> urity
<br /> Payments will be due without demand. You will pay the Lease Payments to inrecord any document,Unta which wets deem desirablesnr protect our Agreement. you,
<br /> us at Caterpillar Financial Services Corporation P.O. Box 100647i at tyrest Ix each Unit and ear d fenand b ec uity i tere t inthe You,
<br /> Pasadena, CA 91189"0647 or such other location that we designate in will your expense,s freer and
<br /> and defend ourall security interest in ncu Unitsa and
<br /> writing. Your obligations, including your obligation to pay the Lease keep the Unfithowever and clear of any and all claims,liens,encumbrances
<br /> Payments due in any fiscal year,will constitute a'current expense of yours and legal processes and whenever arising.
<br /> for such fiscal year and will not constitute en indebtedness of yours within 6. Disclaimer of Warranties WE HAVE NOT MADE AND DO NOT MAKE
<br /> the meaning of the constitution and laws of the State in which you are ANY WARRANTY, REPRESENTATION OR COVENANT OF ANY KIND,
<br /> located(the"State"), Nothing in this Agreement will constitute a pledge by EXPRESS OR IMPLIED,AS TO THE UNITS. AS TO US, YOUR LEASE
<br /> you of any taxes or other moneys,other than moneys lawfully appropriated AND PURCHASE OF THE UNITS WILL BE ON AN"AS IS"AND"WHERE
<br /> from time to time for the payment of the"Payments"(as defined in the last IS" BASIS AND "WITH ALL FAULTS" Nothing in this Agreement is
<br /> sentence of this Section) owing under this Agreement. You agree that, intended to limit,waive,abridge or otherwis modify any rights,claims
<br /> except as provided in Section 7,your duties and liabilities under this or clauses of action that you may have against any person or entity
<br /> Agreement and any associated documents are absolute and other than us.
<br /> unconditional, Your payment and performance obligations are not 7 Non.Appropriation You have an immediate need for,and expect to make
<br /> subject to cancelation,reduction,or setoff for any reason. You agree immediate use of, the Units. This need is not temporary or expected to
<br /> to Settle all claims,defenses,setoffs,counterclaims and other disputes diminish during the term of this Agreement. To that end,you agree,to the
<br /> you may have with the Supplier,the manufacturer of the Unit,or any extent permitted by law, to include in your budget for the current and each
<br /> other third party directly with the Supplier, the manufacturer or the successive fiscal year during the term of this Agreement,a sufficient amount
<br /> third party,as the case may be You will not assert,allege or make any to permit you to discharge your obligations under this Agreement
<br /> such claim,defense,setoff,counterclaim or other dispute against us or Notwithstanding any provision of this Agreement to the contrary,we and you
<br /> with respect to the payments due us under this Agreement.As used in agree that,in the event that prior to the commencement of any of your fiscal
<br /> this Agreement, Payments"will mean the Lease Payments and any other years you do not have sufficient funds appropriated to make the Payments
<br /> amounts required to be paid by you, due under this Agreement for such fiscal year, you will have the option of
<br /> The portion of the Lease Payments constituting principal will bear Interest terminating this Agreement as of the date of the commencement of such
<br /> (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
<br /> of 4.15%per annum. terminate. No later than the last day of the last fiscal year for which
<br /> 4. Late Charges If we do not receive a Payment on the date It is due,you wilt appropriations were made for the Payments(the"Return Date"),you wilt
<br /> Gm 1111 fi ' &IIIII "
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