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HomeMy WebLinkAboutC80-052 Lease Option with Municipal InvestmentForm UCC 12053— Bradford Publishing Co., Denver, Colorado —11-79 STATE OF COLORADO UNIFORM COMMERCIAL CODE — SECURITY AGREEMENT Debtor: Name: EAGLE COUNTY Address: POST OFFICE BOX 850 EAGLE, COLORADO 81631 Residence: No, Street City Business: Secured Party: Name: EAGLE, COLORADO _81631 No. Street MUNICIPAL INVESTMENT COMPANY City State State Address: 5500 SOUTH SYRACUSE CIRCLE, SUITE 109, ENGLEWOOD, COLORADO 80111 No, Street City State �,btor. for consideration, hereby grants to Secured Party a security interest in the following property and any and all additions, accessions and substitutions thereto or therefor (hereinafter called the "COLLAT 1:'): ONE (1) JOHN DEERE 544B,LOADER, SERIAL NUMBER 359356-D received in exchange for ONE (1) JOHN DEERE 646B COFACTOR SERTAL NUMBER, 330633T 4.9 per that certain lease agreement dated March 7, 1980 To secure payment of the indebtedness evidenced by certain promissory note—of even date herewith. payable to the Secured Party, or order, as follows: DEBTOR EXPRESSLz WARRANTS AND COVENANTS; 1. That except for the security interest granted hereby Debtor is, or to the extent that this agreement states that the Collateral is to be acquired after the date hereof, will be, the owner of the Collateral free from any adverse lien, security interest or encumbrances; and that Debtor will defend the Collateral against all claims and demands of all persons at anytime claiming the same or any interest therein. 2. The Collateral is used or bought primarily for: ❑ Personal, family or household purposes: "j ❑ Use in farming operations; ❑ Use in business. 3. That Debtor's residence is as stated above, and the Collateral will be kept at EAGLE EAGLE COLORADO No and Street City County State 4. If any of the Collateral is crops, oil, gas, or minerals to be extracted or timber to be cut, or goods which are or are to become fixtures, said Collateral concerns the following described real estate situate in the County of _—EAGLE and State of Colorado, to wit: w: n N��9.4•'�4'ew`*%"' ,,E ., .•yxa, d, w.Y�.��[�..,as'i^ii.at:h }�.�`x^,';ii'43�i3'.e"- s.Y w. .,u ria:H'�+'sa€yJY.,:.;t3,C+A'a.`N'�°'4kF3,ke�'�.F!`?�j!1?1t�!�i< ,t,. d^l�iu �'"�3N,iis'Fw''p�,`.1f!;tkF,F%�i, r�"ii Bradford Publishing Co., 1824-46 Stout Street, Denver, Colorado SPATE OF COLORADO UNIFORM COMMERCIAL CODE— FINANCING STATEMENT — COLORADO U.C.C.-I (Rev. 1-78) r IMPORTANT — Read instructions on reverse side before filling out form This Financing Statement is presented for filing pursuant to the Uniform Commercial Code. 3. For Filing Officer (Date, Time, Number, and Filing Office): 1. Debtor(s) Name and Mailing Address: 2. Secured Party(les) Name and Address: EAGLE COUNTY MUNICIPAL INVESTMENT COMPANY POST OFFICE BOX 850 5500 SOUTH SYRACUSE CIRCLE EAGLE, COLORADO 81631 SUITE 109 ENGLEWOOD, COLORADO 80111 4. This Financing Statement covers the following types (or items) of property: (WARNING: If collateral is crops, fixtures, timber, or minerals or other substances to be extracted or accounts resulting from the sale thereof, read instructions on back.) (1) ONE JOHN DEERE 544B LOADER,S#359256-D received In exchange for (1) one JOHN DEERE 646B 5. Name and address of Assignee of Secured Party: Compactor - Serial Number 330633T as per DENVER NATIONAL BANK that certain lease agreement dated March POST OFFICE BOX 5586 TA 7, 1980 DENVER, COLORADO 80217 Check only if applicable. ❑ This Financing Statement is to be filed for record in the real estate records. ❑ Products of collateral are also covered. y 6. This Statement is signed by the Secured Party instead of the Debtor to perfect a security interest in collateral (Please check ❑ already subject to a security interest in another jurisdiction when it was brought into this state, or when the debtor's location was changed to appropriate box) this state. I ❑ which is proceeds of the original collateral described above in which a security interest was perfected; ❑ as to which the filing has lapsed; or AL I Niof S , COMPANY`` ❑ acquired after a change of name, identity or corporate structure of the7jRSignature(s) 7 7. Check only if applicable: ❑ The Debtor is a transmitting utility. Lj— e � �..' tSe edParty(ies) Siqnature(s) of Debtor(t) Form approved by the Secretary of State and COLORADO FORM U.C.C. 1 (REV. I-7E the County Clerks and Recorders Association BRADFORD PUBLISHING CO. DENVER. COLO. LEASE AGREEMENT WITH OPTION TO PURCHASE Lessor: Municipal Investment Company Suite 109 Woodside Plaza -` 5500 South Syracuse Circle Englewood, Colorado 80111 Lessee: Eagle County Eagle, Colorado 81631 This agreement between Municipal Investment Company (Lessor) and of the State of colo see , a body corporate and politic existing under the laws , is as follows: 1. Agreement To Lease. Lessor agrees to lease and rent to Lessee, and Lessee agrees to lease and rent from Lessor the Property consisting of one (1)John D PrP 64h -R _._ __., t,)N Acnhal t ThPrmnr-Lav Units as rare fully describe—di n Exhibit A. 0 2. Commencement. This Lease shall be effective as of the date of execution of the documentation. The term of this Lease shall continence as of the first day of the next month following the date of execution and delivery of this Lease. 3. Duration Of Lease. This Lease will continue until the end of the fiscal year of Lessee in effect at the date of execution and delivery of this Lease. Thereafter, Lessee, shall elect either to extend the Lease for a successive period coextensive with Lessee's fiscal year (plus any fraction thereof required to complete the original proposed Lease term as shown in Exhibit -B) or, in the alternative, Lessee shall elect to purchase the' Property as is provided for in Paragraph 5, below. Lessee reasonably believes that it will have a need for the Property for the duration of the original term and all renewal terms provided under this Lease and that funds will be available and appropriated to make all payments required under this Lease. Lessee will perform all acts lawfully within its power to obtain and maintain funds from which rental payments -will be made, including making provision for such payments in each annual budget of Lessee. If funds to continue the leasing of the Property for any ensuing renewal term are not available for such purpose, Lessee may terminate this Lease at the end of the original term or renewal term then in effect. Lessee will notify Lessor at least 30 days prior to the •expiration of the original or any renewal term if funds are riot available for the payments required under this Lease by reason of nonappropriation or non- availability of funds as set forth above. In the case of such nonappropriation by Y the Lessee, Lessor shall have available all rights and remedies hereinafter described -' with respect to default, to the maximum extent permitted by law. 4. Rent. Lessee will pay to Lessor as rent for the use of the Property an initial payment of $ 7973.00 , payable on or before 1 March 1980 and subsequent payments a�,arterl monthly, quarterly on —the—dates and in the amounts set forth in Exhibit B. A portion of each rent payment is paid_ as and is representative of interest and is set forth in Exhibit B. Notwithstanding any dispute between Lessor and Lessee, Lessee will make all payments of rent when due, without with- holding any portion ::f such rent, pending final resolution of such dispute. 5. Purchase Of Prop42rty. Lessee may purchase the Property from Lessor on an as is, where is basis, Tat equal to the amount set forth in Exhibit C plus any taxes imposed upon such purchase and such purchase price and at the time or times set forth thereon. To exercise the option granted, Lessee must deliver to Lessor written notice of such election specifying the date on which the Property is to be purchased, at least 30 days prior to the purchase date specified in such notice. Lessee may exercise its option to purchase only if Lessee has made all rent payments when due (or has remedied any de- faults in the payment of rent, in accordance with the provisions of this Lease) and if all other representations, covenants, warranties, and obligations of Lessee under this Lease have been satisfied (or all breaches of the same have been waived by Lessor in writir 6. Termination. This Lease will terminate upon: a. the expiration of the original lease term and all renewal periods and/or b. the payment by Lessee of the option to purchase price in accordance with Exhibit C F0 7, }{appropriation. If this Lease is terminated pursuant toSection 3 for any reason other than the purchase of the Property by Lessee prior to the expiration of all renewal terms provided in this Lease, Lessee hereby covenants that it will not purchase, lease, or rent property performing functions similar to those performed by the Property, and � will not permit functions similar to those performed through use of the Property to be performed by own its employees or by any agency or entity affiliated with or hired by mP Lessee until after the time at which all renewal terms provided in this Lease would -'have expired but for such termination. Notwithstanding the above, these restrictions will not be applicable in the event the Property is liquidated by Lessor, and Lessee pays to Lessor any amount equal to the then applicable option to purchase price specified in `'---.-Exhibit C, less any amount realized by lessor as a result of liquidation of the Property. 8. Setoff. Lessee covenants it will not assert any right of setoff or counterclaim against is obligation to make payments as required by this Lease and Exhibits thereto. 9. Security Interest. To secure the payment of all of Lessee's obligations to Lessor under this Lease, Lessee grants to Lessor a security interest in the Property and in all additions, attachments, accessions, and substitutions to or for the Property. The above security interest also includes proceeds. Lessee agrees to execute such additional documents, including financing statements, affidavits, notices, and similar instruments, in form satisfactory to Lessor, which Lessor deems necessary or advisable to establish and maintain its security interest in the Property. 1a. Representations, Covenants, And Warranties Of Lessee And Lessor. a. Lessee represents, covenants, and warrants -as follows: 1) Lessee is a body corporate and politic, constituting a political subdivision existing under the laws of the State of Colorado 2) Lessee is authorized by the Constitution and laws of the State of Colorado to enter into the transactions contemplated by this Lease, and to effect all of Lessee's obligations under this Lease. The Governing Body of Lessee has duly authorized the execution and delivery of this Lease. . 3) All procedures have been met so that this Lease is enforceable and Lessee has complied with all purchasing procedures that may be required. 4). Lessee will use and service the Property in accordance with the vendor's instructions and in such a manner as to preserve all warranties and guarantees with respect to the Property. 5) The representations, covenants, warranties, and obligations set forth in this section are in addition to and are not intended to limit any other representations, covenants, warranties; and obligations set forth in this Lease. b. Lessor represents, covenants, and warrants as follows` i 1) During the term of this Lease, Lessor will provide Lessee with quiet use and -- enjoyment of the Property without suit, trouble, or hindrance from Lessor, except upon default by Lessee, as set forth in this Lease. 2) Lessee has selected the Property and desires to lease the Property for use in the performance of its governmental functions. Lessor's only role in the transfer of possession of the Property is the facilitation of the financing of the Property by Lessor's agreement to purchase the Property and to lease the Property to Lessee. Lessor will not be liable for specific performance or for damages if the supplier or manufacturer of the Property for any reason fails to fill, or delays in filling, the order for the Property. Lessee acknowledges that Lessor is not a manufacturer of or a dealer in the Property (or 'similar property) and does not inspect the Property prior to delivery to Lessee. FOR PURPOSES OF THIS LEASE AND OF ANY PURCHASE OF THE PROPERTY EFFECTED UNDER THIS LEASE, LESSOR EXPRESSLY DISCLAIMS ANY WARRANTY WITH RESPECT TO THE CONDITION, QUALITY, DURABILITY, SUITABILITY, OR MERCHANTABILITY -OF -THE PROPERTY IN -ANY -RESPECT, -AND ANY OTHER REPRESENTATION, WARRANTY, OR COVENANT, EXPRESS OR IMPLIED. LESSOR WILL NOT BE LIABLE TO LESSEE FOR ANY LIABILITY, LOSS,OR DAMAGE CAUSED OR ALLEGED TO BE CAUSED, DIRECTLY OR INDIRECTLY, BY ANY INADEQUACY, DEFICIENCY, OR DEFECT IN THE PROPERTY, OR BY ANY USE OF THE PROPERTY, WHATSOEVER. Lessor assigns to Lessee, without recourse, for the term of this Lease all manufacturer warranties and guarantees, express or implied, pertinent to the Property, and Lessor authorizes Lessee to obtain the customary services furnished in connection with such guarantees and warranties at Lessee's expense. Lessee hereby reassigns to Lessor all -such viarranties and guarantees upon Lessor's repossession of the Property. 2 Default. 11. ._ ._ a. Lessee will be in default under this Lease upon the happening of any one or more of the following events: 1) Lessee shall fail to make any lease payment, or to pay any other payments required to be paid hereunder; or 2) Lessee shall fail to keep any such other term, covenant, or condition contained herein. 3) Lessee comes within the jurisdiction of any court as debtor under any bankruptcy, reorganization, or similar law, whether or not such law is in existence on the date this -Lease continences. b. To the maximum extent permitted by law, upon any event of default, Lessor may in its sole discretion pursue any one or more of the following remedies (which will be exercisable cumulatively and concurrently or separately): 1) terminate this Lease, repossess the Property, and lease (free and clear of any interest of Lessee in the Property) all or any portion of the Property to such other persons as Lessor may elect, applying the proceeds of any such lease (after deducting Lessor's costs of repossessing, repairing, storing, moving, and leasing the Property, including attorneys' fees) against any rent unpaid for the remainder of the original or renewal term then in effect and any other amounts owed to Lessor under this Lease at the time of Lessor's election under this paragraph. 2) terminate this Lease, repossess the Property, and sell (free and clear of mny interest of Lessee in the Property) all or any portion of the Property at any public ,--A)r private sale without demand or notice of intention to sell, applying the proceeds of such sale (after deducting the costs of repossessing, repairing, storing, moving, and selling the Property, including attorneys' fees) against any rent unpaid for the remainder of the original or renewal term then in effect and any other amounts owed to Lessor under. this Lease at the time of Lessor's election under this paragraph. 3) any remedy available at law or in equity. c. With respect to all of the remedies of Section 11b, Lessee expressly waives any damages occasioned by Lessor's repossession of the Property. d. In addition to all of the remedies in Section 11b, Lessee will be liable to the maximum extent permitted by law for interest on any unpaid rent or other payment under this Lease at the rate of 12 percent per annum. 12. Net Lease. a. This Lease for all purposes will be treated as a net lease. b. Lessee agrees to pay all license, sales, use, personal property, and other 0 taxes and fees, together with any penalties, fines, and interest on such taxes and fees imposed or levied with respect to the Property and the ownership, delivery, lease, possession, use, operation, sale, and other disposition of the Property, and upon the rental or earnings arising from any such disposition, except any federal or state income taxes payable by Lessor on such rental or earnings. Lessee may in good faith and by appropriate proceedings contest any such taxes and fees so long as such proceedings do not involve any danger of sale, forfeiture, or loss of the Property or of any interest in the Property. c. Lessee will provide all permits and licenses necessary for the installation, operation, and use of the Property. Lessee will comply with all laws, rules, regulations, and ordinances applicable to the installation, use, possession, and operation of the Property. If compliance with any law, rule, regulation, ordinance, permit, or license requires changes or additions to be made to the Property, such changes or additions will be made by Lessee at its own expense. d. The execution and delivery by the Lessee of the Public Corporate Receipt attached as Exhibit D certifies that the Lessee is satisfied with and has accepted the Property as being in good condition and repair. 13. Utilities. Lessee will pay all charges for gas, water, steam, electricity, light, heat or power, telephone, or other utilities furnished to or used in connection with the Property (including abatementarges for soflrentoonof such accountsofvthes) during the tem interruption ofranyfsuchs Lease. There will bea no no services. M '1�. Alteratior. And Liens. ` Use, Repairs, — 0 a. Use. Lessee will not install, use, operate or maintain the Property improperly, carelessly, in violation of any applicable law, or in a manner contrary to that con - care that the Property is and at all times :rill remain templated by this Lease. Lessee a perso;:al property notwithstanding that the Property or any part of the Property may now or hereafter become affixed in any manner to real property or to any building on real roperty. y own cost will service, repair, and maintain the Property b. Repairs. Lessee at its so as to keep the Property in as good condition, repair, appearance, and working order as when delivered to and accepted by Lessee under this Lease, ordinary wear and tear excepted. At its own cost, Lessee will replace any and all parts and devices which may from time to time become worn out, lost, stolen, destroyed, damaged beyond repair, or rendered unfit for use for any reason whatsoever. All such replacement parts, mechanisms, and devices will be free and clear of all liens, encumbrances, and rights of others, and immediately will become a part of the Property and will be covered by this Lease to the same extent as the Property originally covered by this Lease. w c. Alterations. Lessee may install such miscellaneous equipment as may be necessary for use of the Property for its intended purposes so long as either 1) the installation of such equipment does not alter the function or manner of operation of the Property, or 2) Lessee, upon termination of this Lease, restores the Property to its function and manner of operation prior to the installation of such miscellaneous equipment. Subject to the obligations described above, Lessee may remove such miscellaneous eqiupment upon termination of this Lease, if the removal of such miscellaneous equipment will not damage the Property. Without the prior written consent of Lessor, Lessee will not make any other alterations, changes, modifications, additions, or improvements to the Property except those needed to comply with Lessee's obligations to change, add to, or repair the Property s set forth in Sections 12c and 14b. Any alterations, changes, modifications, additions, and improvements made to the Property, other than miscellaneous equipment installed as set forth above, immediately will become a part of the Property and will be covered by this Lease to the same extent as the Property originally covered by this Lease. d. Liens. Lessee will not directly or indirectly create, incur, assume, or suffer to exist any mortgage, pledge, lien, charge, encumbrance, or claim on or with respect 'to the Property or any interest in the Property, other than as permitted by Section 9. Lessee promptly and at its own expense will take such action as may be necessary to duly discharge any mortgage, pledge, lien, charge, encumbrance, or claim if the same arises at any time, other than as permitted by Section 9. 15. Indemnification, Insurance, And Damage To Or Destruction Of The Equipment. a. Indemnification. Lessee assumes liability for and agrees to indemnify Lessor from and against any and all liability (including attorneys' fees) and of any nature imposed upon, incurred by, or asserted against Lessor which in any way relates to or arises out of ownership, delivery, lease, possession, use, operation, condition, sale, or other disposition of the Property. b. Insurance. Lessee at its own cost will cause casualty insurance, public liability M?insurance, and property damage insurance to be carried and maintained on the Property, with all such coverages to be in such amounts sufficient to cover the value of the Property at the commencement of this Lease (as determined by the purchase price paid by Lessor for the Property), and to be in such forms, and with such insurers, as are acceptable to Lessor. Lessee will cause Lessor to be the named insured on such policies as its interests under this Lease may appear. Insurance proceeds from casualty and property damage losses will be payable to Lessor to the extent of the option to purchase price of the Property at the time of its damage or destruction as set forth in Exhibit C. Lessee will deliver. to Lessor the policies or evidences of insurance satisfactory to Lessor, together with receipts for the initial premiums before the Property is delivered to Lessee. Renewal policies, together with receipts showing payment of the applicable premiums, will be delivered to Lessor at least 30 days before termination of the policies being renewed. By endorsement upon the policy -or by independent instrument furnished to Lessor, each insurer will agree that it will give Lessor at least 30 days' written notice prior to cancellation or alteration of the policy. Lessee also_will_carry workmen's compensation insurance covering all employees working on, in, or about the Property, and will require any other person or entity working on, in, or about the Property to carry such coverage, and will furnish to Lessor certificates evidencing such coverages throughout the term of this Lease. C. Damage to or Destruction of the Property. If all or any part of the Property is lost, stolen, destroyed, or damaged, Lessee will give Lessor prompt notice of such event and will repair or replace the same at Lessee's cost within 60 days after such n event,and any replaced Property will be substituted in this Lease by appropriate endorse- ment. All insurance proceeds received by -Lessor under the policies required under Section 15b with respect to the Property lost, stolen, destroyed, or damaged, will be paid to Lessee if the Property is repaired or replaced by Lessee as required by this Section. If Lessee fails or refuses to make the required repair or replacement, such proceeds will, be credited against the amount owed by Lessee to Lessor, as determined under Exhibit C. No loss, theft, destruction, or damage to the Property will impose any obligation on kLessor under this Lease, and this Lease will continue in full force and effect regardless u.rof such loss, theft, destruction, or damage. Lessee assumes all risks and liabilities, whether or not covered by insurance, for loss, theft, destruction, or damage to the Property and for injuries or deaths of persons and damage to property however arising, whether such injury or death be with respect to agents or employees of Lessee or of third parties, and whether such damage to property is to Lessee's property or to the property. of others. 16. Miscellaneous. a. Assignment and Sublease by Lessee. Lessee may not assign, transfer, pledge, dor encumber this Lease or any portion of the Property (or any interest in this Lease or the Property), or sublet the Property, without the prior written consent of Lessor. /Lessee agrees that Lessor may impose on the Property such plates or other means of identification as are necessary to indicate that the Property is subject to this Lease Wand the restrictions set forth in this section. b. Assignment and Sublease by Lessor. Lessor may freely assign, transfer, pledge, or encumber this Lease or any interest in this Lease. Immediately after receiving notice of such assignment or transfer, Lessee will then make all payments directly to ,`-`*)-the assignee or transferee (as its interests may appear) and, within 30 days of such lissignment or transfer, Lessee will acknowledge -the same to the assignee or transferee. Any payments made in accordance with such assignment or transfer will relieve Lessee of all liability to Lessor for such payments. c. Lessor's Right to Perform for Lessee. If Lessee fails to make any payment or fails to satisfy any representation, covenant, warranty, or obligation, Lessor may (but need not) make such payment or satisfy such representation, covenant, warranty, or obli-. 'gation, and the amount of such payment and any expenses incurred by Lessor, as the case iray be, will be deemed to be additional rent payable by Lessee on Lessor's demand. d. Addresses. All notices and payments under this Lease will be mailed or delivered, 1) if to Lessee, at Eagle County Courthouse, Eagle, Colorado 81631 ; and - 2) if to Lessor, at Municipal Investment Company, Suite log - Woodside Plaza 1, 5500 South Syracuse Circle, Englewood, Colorado 80111 until either Lessee or Lessor gives written notice to the other specifying a different address. e. Manner of Payment. All payments by Lessee will be made by certified or cashier's check, or by other manner acceptable to Lessor. f. Nonwaiver. .No breach by Lessee in the satisfaction of any representation, covenant, warranty, or obligation may be waived except by the written consent of Lessor, and any such waiver will not operate as a waiver of any subsequent breach. g. Severance Clause. Any provision in this Lease which is prohibited by law will be treated as if it never were a part of this Lease, and the validity of the remaining terms of this Lease will be unaffected. h. Entire Agreement; Addendum. This lease and the attached Exhibits constitute the entire agreement between Lessor and Lessee and supersede any prior agreement between Lessor and Lessee with respect to the Property, except as is set forth in any addendum which is made a part of this Lease and which is signed by Lessor and Lessee. i. Amendments. This Lease may be amended only by a written document signed by Lessor and Lessee. J. Inurement. Subject to the restrictions in Section 15a, this Lease is binding upon and inures to the benefit of Lessor and Lessee and their respective successors and assigns. j k. Governing Law. This Lease is governed by the Laws of the State of Colorado 1. Headings. Headings used in this Lease are for convenience of reference only and the interpretation of this Lease will be governed by the text only. 5 EXECUTED this 7th day of LESSOR: (7) MARCH 19 80 W,1,41iQ / p A A /i✓J�U-s rayl ei •d r �o /�,�'•9.t/ G By .�-. it B 4 LESSEE: (Seal) ATTEST: �e.. , OPINION OF COUNSEL. As Counsel for Lessee, -I acknowledge that I have reviewed this Lease With Option to Purchase, Extract of Minutes, and all of the necessary proceedings taken by the Lessee to authorize and execute this Lease With pption to Purchase, and therefore, I am of the opinion: a. The Lessee is a duly constituted political subdivision of the State of Colorado and b. This by thetLessseeoandoisurchase has enforceablebeen againstythetLesseedine and deliveredby the with its terms and conditions, and c. This Lease With Option to Purchase is a legal, valid, and binding obligation of the Lessee. Counsel for Lessee: ,n Title One (1) Two (2) tiUNICIPAL IN`lESTMENT COMPANY Exhibit A Lease Agreement With Option To Purchase DESCRIPTION OF PROPERTY New John Deere 646B Compactor All standard equipment. ROPS cab with heater, air conditioning, front and rear windshield wipers and work lights 2-1/2 yard multi-purpose refuse bucket with rack and teeth Rear auxiliary side weights $ 82,030.00 Asphalt Thermo -Lay with the following Optional Equipment: Sander Ground Pounder Electric Heater Quincy Hydraulic Breaker Mounting of Sander and Thermo -Lay Power Take -Off for Eagle, Truck Hardware for Mounting (U -Bolts, etc.) Side Board Brackets Set $21,121.62 Each $ 42,243.24 Total $124,273.24 Down Payment 45,000.00 Amount of Lease -Purchase $ 79,273.24 Financing MUNICIPAL INVESTMENT COMPANY EXHIBIT B ' Lease Agreement With Option To Purchase $79,273.24 PAYMENT SCHEDULE PAYMENT DATE PAYMENT AMOUNT CREDITED AMOUNT CREDITED PRINCIPAL TO PRINCIPAL . TO INTEREST BALANCE 03-01-80 7j973.00 5,579'70 ' 2,393.30 73,693'30 06-01-80 7,973.00 5,748'15 2,224.85 67°945.15 09-01-80 7,973.00 5,921,69 2,051.31 62,023.46 12-01-80 7,973.00 6,100.47 1,872,53 55,922'99 03-01-81 7,973.00 6,284.65 1,888,35 49,638.34 06-01-81 7,973.80 6,474.39 1,498.61 43,163.95 09-01-81 7,973'00 6,669.85 1,303.15 36,494.10 12-01-81 7,973.00 6,871.22 1"101'78 29,622.88 03-01-82 7,973,00 7,078.67 894.33 22^544'21 06-01-82 7,973'00 7,292,38 680'62 15,251.83 09-01-82 7,073.00 7,512,54 460.46 7,739.29 12-01-82 7,972.94 7,739.29 233'65 -0- talS 95,675.94 79,273.00 16,402,94 MUNICIPAL INVESTMENT COMPANY EXHIBIT C Lease Agreement With Option To Purchase OPTION TO PURCHASE* 12/31/80 $57,781.48 1.2/21/81 30 ,175.49 12/31/82. 1.00 *After payment of amount otherwise due on date shown in Exhibit B MUNICIPAL INVESTMENT COMPANY Suite 109 — Woodside Plaza 1 5500 South Syracuse Circle Englewood, Colorado 80111 Exhibit D PUBLIC CORPORATE RECEIPT The undersigned, Lessee, under that certain Lease Agreement With Option to Purchase dated �1 FA" � , 19&, with Municipal Investment Company as Lessor, hereby acknowledges receipt in good condition of all of the Property described in Exhibit A to the Lease Agreement With Option to Purchase, hereby accepts the Property and hereby certifies that the Lessor has fully and satisfactorily performed all covenants and conditions to be performed by it under the Lease Agreement With Option to Purchase. Dated: /UyL� 19 ad LESSEE: By MUNICIPAL INVESTMENT COMPANY Suite 109 - Woodside Plaza 1 5500 South Syracuse Circle Englewood, Colorado 80111 Exhibit E PUBLIC CORPORATE CERTIFICATE I, DALE F. GRANT, COUNTY COMMISSIONER of EAGLE COUNTY hey reb certify that the Lease Agreement With Option to Purchase dated 7 MARCH 19 80 between Municipal Investment Company as Lessor and EAGLE COUNTY leasing the Property described in Exhibit A attached' as Lessee, to the Lease Agreement With Option to Purchase, was executed by me on the 7th day of MARCH 19 80; that I have full power and authority to execute the '---'Lease Agreement With Option to Purchase and that the power to enter into the Lease Agree - rant With Option to Purchase granted to me by the COUNTY COMMISSION has not been withdrawn, and that all required procedures necessary to make the Lease -Agreement With Option to Purchase a legal and binding obligation of the Lessee have been followed. IN WITNESS WHEREOF, I have set my hand this 7th day of MARCH , 19 80 (S EAL ,& am the duly elected, qualified and acting � 6,441_jv�,and I do hereby certify that payments ::ue by the Z' mfr>,� under the Lease Agreement With Option to Purchase -- ;-zferred to above for the current lease term are within the current budget and within an available, unexhausted, and. unencumbered appropriation of the ROAD AND BRIDGE FUND