HomeMy WebLinkAbout20021197 RESOLUTION
RE: APPROVE EQUIPMENT LEASE-PURCHASE AGREEMENT AND AUTHORIZE CHAIR
TO SIGN NECESSARY DOCUMENTS - CATERPILLAR FINANCIAL SERVICES
CORPORATION
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, the Board has been presented with an Equipment Lease-Purchase
Agreement between the County of Weld, State of Colorado, by and through the Board of
County Commissioners of Weld County, on behalf of the Department of Public Works, and
Caterpillar Financial Services Corporation, commencing upon full execution of said Lease-
Purchase Agreement, with further terms and conditions being as stated in said Lease-Purchase
Agreement, and
WHEREAS, after review, the Board deems it advisable to approve said Lease-Purchase
Agreement, a copy of which is attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Equipment Lease-Purchase Agreement between the County of
Weld, State of Colorado, by and through the Board of County Commissioners of Weld County,
on behalf of the Department of Public Works, and First National Bank be, and hereby is,
approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized
to sign all necessary documents.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 8th day of May, A.D., 2002.
BOARD OF COUNTY COMMISSIONERS
tt WELD COUNTY, C LORADO
ATTEST: L�/��//����� ✓Sfs 'fl'.
Vaad, Chair
Weld County Clerk to the rd eilzi--- F' ;
1861 , { eYq Ck
"" ' , vld E. g, Pro-Te
BY: � �
Deputy Clerk to the Boar cfJT„':),`1..,,„:„> etc.,
M. J. eile
r`'R D RM: tt-I-7 fri-,-.Y
William H. Jerke
ounty Attorny EXCUSED
Robert D. Masden
Date of signature: '3
2002-1197
EG0046
cc : FE> eia�r d
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CATERPILLAR FINANCIAL SERVICES CORPORATION GOVERNMENTAL LEASE-PURCHASE AGREEMENT
Dated as of MAY 1 7OO7
LESSEE: WELD COUNTY,COLORADO LESSOR: CATERPILLAR FINANCIAL SERVICES CORPORATION
"A political agency or subdivision of the State of Colorado" f sl-y—may
ADDRESS: 933 N 11TH AVE ADDRESS: 2120 West End Avenue 1/11_^ 23.12
PO.P.O.BOX 758
GREELEY,CO 80632 Nashville.TN 37203
Lessor,in reliance on Lessees selection of the equipment described below("Unit"or"Units"),agrees to acquire,lease,let and sell the Units to Lessee,and Lessee agrees to
rent,lease,hire and purchase the Units from Lessor.
Description of Unit(s) Sertal8
(I)New 623G Caterpillar Scraper ARW0O84
ACCErTEt),a+CiuJ(/BLtc.1Gt
\ND CERTIFIED BY CATERPILLAR
'INANCIAL SERVICES CORPORATION
S THE•
D
/Gyhnrp,;�
j .7• r anrr°°FS!DENT
Location of Unit(s): 1111 H STREET
GREELEY,CO 80632.WELD
Payment Schedule attached. Lease Term:60 Months Utilization Date:June 28,2002
PAYMENT PROVISION:
Lessee shall pay to Lessor payments(including the principal and interest portion)in 60 consecutive monthly installments commencing
ADDITIONAL PROVISIONS: RIDERS:
TERMS AND CONDITIONS
I. LEASE TERM; NON-APPROPRIATIONS: The Lease term for each Unit shall commence on its'Delivery Date'(which is the later oldie date on which(a)Lessor
executes this Lease,(h)Lessor takes title to the Unit,or(c)Lessee or its agent receives poueuion or takes control of the Unit,provided the Delivery Date is on or prior to
the Credit Utilization Date set forth above)and shall continue through the last day of Lessees fiscal year in which the Delivery Date occurs and,theresller,shall
automatically be extended for successive annual periods coinciding with Lessee's fiscal years. If the Delivery Date is not on or prior to the Credit Utilization Date,Lessee
shall,at the option of lessor,assume Lessor's obligations to purchase and pay for the Unit. Within seven days following the Delivery Date of each Unit,Lessee shall
execute and deliver to Lessor a Delivery Supplement using Lessor's standard form. In the event no funds or insufficient funds are appropriated and budgeted or are
otherwise not available in any fiscal year for payments due under this Lease,Lessee will immediately notify Lessor of such occurrence and this Lease shall terminate on
the last day of the fiscal year for which appropriations were received without penalty or expense to Lessee,except as to the portions of payments herein agreed upon for
which funds shall have been appropriated and budgeted or are otherwise available. Notwithstanding the foregoing,Lessee agrees that,to the extent permitted by law,it
will not cancel the Lease under the provisions of this Section 1 if any funds are appropriated to it or by it for the acquisition,retention or operation of the Units or other
equipment performing functions similar to the Units for the fiscal year in which temtination occurs or the next succeeding fiscal year.
2, PAYMENTS;NET LEASE: During the Lease term,Lessee shall pay to Lessor,at PO Box 130681 Dallas,TX 75373.0681,rent for each Unit as stated in the
attached Payment Schedule and according to the above Payment Provision. An amount equal to one payment for all of the Units nntst accompany this Lease. If Lessor
accepts and executes this Lease,said amount shall be applied to the first payment due. If Lessor does not execute this Lease,said amount will be returned to Lessee. If
Lessor does not receive a payment on the date it is due,Lessee shall pay to Lessor,on demand,a late payment charge equal to the lesser of live percent(5%)of the
payment not paid when due or the highest charge allowed by law,whichever is less. This Lease is a net lease,and Lessee shall not be entitled to any abatement or
reduction of payment or any setoff against payment,whether arising by reason of any past,present or future claims of any nature by Lessee against Lessor or otherwise.
Except as otherwise expressly provided herein,the obligations of Lessor and lessee shall not be affected by an defect in,damage in,loss of possession or use of any Unit.
however caused,by the attachment of any lien or other claim to any Unit,by any interference with lessee's use of the Unit,or fur any other cause,whether similar or
dissimilar to the foregoing,any present or future law to the contrary notwithstanding.
3. DISCLAIMER OF WARRANTIES: Lessee acknowledges and agrees that Lessor is not the manufacturer of the Unit(s)and that Lessee has selected each Unit based
on Lessee's aunt judgment without any reliance whatsoever on any statements or representations made by Lessor. AS BETWEEN LESSOR AND LESSEE.THE UNIT(S)
ARE PROVIDED "AS IS" WITHOUT ANY WARRANTIES OF ANY KIND. LESSOR HEREBY EXPRESSLY DISCLAIMS a) ALL WARRANTIES OF
MERCHANTABILITY, b) ALL WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE,AND c) ALL WARRANTIES AGAINST INFRINGEMENT OR
THE LIKE. Lessor assigns to Lessee its interest in any of the manufacturer's warranties on the Units(a).
4. POSSESSION,USE AND MAINTENANCE: Lessee shall not(a)use,operate,maintain or store any Unit improperly,carelessly,unsafely or us violation of any
applicable law or regulation or for any puryose other than in the conduct of Lessee's business;(b)abandon any Unit;(c)sublease any Unit,permit the use of any Unit by
anyone other than Lessee,change the use of any Unit from that specified in the attached Application Survey/Usage Rider,or change the locution of any Writ(Son that
specified above,without the prior written consent of Lessor,or(d)sell,assign or transfer,or directly or indirectly-create or suffer to exist any lien,claim,security interest
or encumbrance on any of its rights hereunder or in any Unit. The Units arc and shall remain personal property irrespective of their use or manner of attachment to realty.
Upon prior notice to Lessee,Lessor or its agent shall have the right(but not the obligation)at all reasonable times to inspect any Unit and maintenance records relating
thereto. Lessee shall,at its expense and at all times during the Lease term,maintain the Units in good operating order,repair and condition and shall perfomt maintenance
at kast as frequently as set forth in any applicable operator's guide,service manual,and lubrication and maintenance guide for the Units. Lessee shall not alter any Unit or
affix any accessory or equipment to any Unit if such alteration or addition would impair the originally intended function or use or reduce the value of such Unit. Any
alteration or addition to any Unit shall be the responsibility of and at sole risk of Lessee. All parts,accessories and equipment affixed to any Unit shall be subject to the
security interest of Lessor granted hereunder. If Lessor supplies Lessee with labels stating that the Unit is leased from Lessor,Lessee shall affix and keep them in a
prominent place on the Unit.
SEE REVERSE SIDE FOR ADDITIONAL TERMS AND CONDITIONS
LESSEE ACKNOWLEDGES HAVING RECEIVED A FULLY COMPLETED AND EXECUTED COPY OF THIS AGREEMENT
Lessee: WELD CO NTY,COLORADO Lessor: CATERPILLAR FINANCIAL SERVICES CORPORATION
Bill Schowalter
By 4 By
.n
Name(PRINT) Glenn Vaad Name(PRINT) Documentation Manager •
Title Chair Title
Date 05/08/2002 - Date (/ ] (a L'
2002-1197
S. LESSEE'S REPRESENTATION AND WARRANTIES: Lessee represents and warrants t0 Lessor that(U Levee is a hilly consdmled political subdivision or agency duly organized and
existing comer the Constitution and laws of she state where the Units will be located:(b)Lessee has the power to truer into and perform this Lease and has taken all necessary and apprvynase action
•
to authorize the execution,delivery and performance hereof(d this Lease connsilutes a valid and legally binding and enforceable obligation of Lessee;(d)the Mesta payable by Lessee hereundef
is excludable train income for Federal income on purposes pursuant to Section 103 of Ilse Internal Revenue Code of 1906,as amended(dud"Code);and(el Lessee has sufficient
appropnalio:n or other funds available to pay all amounts due hereunder for the current fiscal year and reasonably believes that funds can be obtained sufficient to make all paynene doing the semi
of this Lease Lessee repnums Nn she use of the Uniu is essential to Lessee',proper,efficient and economic operation. Lessee acknowledges and agrees that the payments have been cakuked
by Lessor assuming that he inleml portion afeach payment is excludable from gross income for Federal Income taxation purposes. Lessee represents,warrants and covenants that (a)Lessee will
comply with she information reporting requirements of Section 149(e)of the Code,as the sane may be amended from lime to lime,and such compliance shall include but out be limited to the
execution of information statements requested by Lessor.lbl Lessee will not do or cause to be done any ant whkh will cause, Lease a or by omission of any eel allow,the be an arbitrage bond
within die meaning of Section lathe)of the Code;(e)Lessee will not do or cause to he done any act which will cause,or by omission of any act allow this Lease to be a private activity bond within
the messing of Section ICI(slot the Code;Id)Lessee will timely pay to the extent of available funds,smuts required an be rebated to the United Suss pursuant to Section 14eh0 of the Code;(e)
Lessee will not do or cause to be done any act which will cause,or by omission of any act allow,the interest portion of the payments lobe or become includable in gross income for Federal income
taxation purposes under the Code;and(D Lessee will be the exclusive owner,user and operator of the Units,Lessee shall provide to Lessor an opinion of counsel substantially in the form ruched
hereto. -
C TAXES: Lessee agrees so promptly pay or reimburse Lesser foe all fen and taxes of any nature,'together with any penalties,fines or additions so tax,or interest thereon(all Of the foregoing
hereafter the'Impositions').soling as any time prior to,Wising or subsequent so the lase km and levied by any taxing aulhoeiry with respect to at in connection with any Unit excluding.
however.axe ued by Lessors net none(of but not excluding any nn income taxes whirls,by the Wren of the Stet=imposing such tax,expmsl➢relieve Lessee or Lessor from the payment
b:p of any osisiom which Lessee would otherwise be obligated to pay or nimbmse). If Lessor is not entitled to a mempanding end equal deducsion with respects()any Impnsilion which Lessee is
vquired is pay or reimburse and such paymem rtimbunnmm constitutes income to Lessor,Wen Lessee shall also pay so Lessor the amount of any Impositions which Lessor is obligated to pay
in respect offal such payment or reimbursement by Lessee and(b)any payment by Lessee nude pursuant so this sentence.Lessee shall propane and file, utis(actary to Lessor,any
reports or returns which my he required with respect to the Units. For purposes of'his Section,"Lessor'shall include any aIlined group.within the meaning of Section 1504 of the Code,of
which Lesser is a menthes for any year in which a consolidated or combined income lax return is filed for the affiliated group.
7, LOSS OR DAMAGE;INSURANCE: Lessee assumes all asks and liabilities of lost,damage or Casualty Occurrence(n hereinafter defined)for any cause whatsoever,for condemnation of
any Ural pnor so.during or subseque to(wail the Un)is umed se Lessor parsons Section 10)the Lease s.and for injury so or death of any pen or damage is ally property in any
Manner arising out of or incident to the possession,use,opera s limt condition or sponge alike Unit If any Unit becomes damaged,from any cause whatsoever.Lessee shall give Leases prompt
notice thereof If Lessor reasonably detemsines'Mu snob damage is nos irreparable.then Lessee shall,as its expense,promptly resort the Unit the condition required by Section 4 above.If any
Unit becomes worn cont lost stolen.destroyed or irreparably damaged(as reasonably detemined by Lessor)from any cause whatsoever,or Laken by eondemnlion or otherwise(any suck
occurrence hereafter a"Casualty Occurrence")prior to.during Of subsequent to(until the Unit is W Iumed to Lessor punnnt to Section Is)the Lease term,Lessee shall give Lester prompt'twice
'bettor In the evens of a Casuslp Occurrence,Lessee shall pay to Lessor.on she earlier of DI she first payment dale following suck Casualty Occurrence on(b)thirty(30)days following such
Casualty Occurrence.a sum(the"Teminat;on Value")equal so(a)the"Beginning Balance"(as specified in the attached Payment Schedule)as of the next payment due following such Casualty
Occurrence.plus lb)the amount of the interest portion las specified in the Payment Schedule)of the next papnen,due following such Casualty Occurrence mullipiied times a fraction the numerator
of which is the number of days fmin die lacer of(a)the Delivery Date of the Unit or(b)tie due due of the payment immediately preceding such Cesualry fkcursnce until the disc dale of the
payment due heremdn in respect of such Casualty Occurrence and the denominator of which is 360. Lessee,at its expense,shall keep each Unit inured against ll mks for not less than the
applicable Beginning Balance with respect o such Unit nd shall maintain comprehensive public liability insurance covering each Unit fornol less ibis 31,000,000 for combined coverage for bodily
injury and property damge.All insurance shall(a)be in Porn and with such companies as Ietnrshallapprove,(M specify Lessor(or its designee)and Lessee as named insureds,(Q Ee primary,
without sighs of comihusion from any other insurance tamed by Lessor,(d)provide that insurance may not be cancelled or deed so as Is affect the intern of Lessor without at lean thirty
(30)days'prior cons to noble a Lesson,and(e)nails Lessor(or At designee)as loss payee said be payable solely to Lessor. Lessee agrees to notify Lessor of any ouummm which may become
the basis 01'an insurance claim hereunder and 110110 make any adjustments with insurers without lessors prior mines consent Lessee hereby imvocablY appoints Lessor its ItdmY-inf¢"o
receive payment of endorse all checks and other documents and to lake any Other action necessary to pursue insurance claims. Hof to the first Delivery Date of any Unit,Lessee shall delivery
to Lessor satisfactory evidence of such insurance coverage.
e. WAIVER AND INDEMNITY: LESSEE TIER EBY AGREES TO RELEASE,DEFEND.INDEMNIFY AND HOLD HARMLESS LESSOR,ITS DIRECTORS,OFFICERS,
EMPLOYEES.AGENTS AND ASSIGNS FROM AND AGAINST ANY CLAIMS OF LESSEE OR THIRD PARTIES,INCLUDING CLAIMS BASED UPON BREACH OF
CONTRACT,BREACH OF WARRANTY,PERSONAL INJURY,PROPERTY DAMAGE,STRICT LIABILITY OR NEGLIGENCE,FOR ANY LOSS,DAMAGE OR INJURY
CAUSED BY OR RELATING TO THE DESIGN,bIANUPACFURE,SELECTION,DELIVERY,CONDITION,OPERATION.USE,OWNERSHIP,MAINTENANCE OR REPAIR
OF ANY UNIT. FURTHER,LESSEE AGREES TO BE RESPONSIBLE FOR ALL COSTS AND EXPENSES,INCLUDING REASONABLE ATTORNEYS'FEES,INCURRED BY
LESSOR OR ITS DIRECTORS,OFFICERS.EMPLOYEES,AGENTS AND ASSIGNS IN DEFENDING SUCH CLAIMS OR IN ENFORCING THIS PROVISION. UNDER NO
CONDITION OR CAUSE OF ACTION SHALL LESSOR BE LIABLE FOR ANY LOSS OF ACTUAL OR ANTICIPATED BUSINESS OR PROFITS OR ANY SPECIAL,INDIRECT
OR CONSEQUENTIAL DAMAGES, .
9. EVENTS OF DEFAULT;REMEDIES: Each of the following shall constitute en'Even'of Default"heteunder(a)Lessee shall fail to nuke any payment to Lessor when due;(b)any
representation or warranty of Lessee contained herein or in any doNnem furnished to lessor in connection herewith shall be incorrect or misleading when made,Hi Lessee shall fail to observe or
part any other covenant,agreement or warmth nude by Lessee hereunder and such faith=shall continue for tan(10)days alter wines notice thereof to Lessee;(dl Lessee shell fail m make
any payment on its bowled iMebedness when due;or(e)there shall be a default by lessee under any other agreement between Lessor and Lessee. litany Evan of Default shall occur,Lessor, t
option nay dl proceed by aWmTnase cows acsiords)so enforce this Lease or to recover damages for the breach thereof;(b)by notice in writing to Less terminate this Lease,but lessee shall
remain liable hereinafer provided.and there upon Lessor my,al its option do any one or more of the following:(RI)recover forthwith(torn lessee(i)any andall amounts then due under this
Lease or which may have accrued so the date of such lermnnation.(ii)as damages far loss of the bargain and not as a penalty,a sum equal to the normal due wish respect to the Units and
additional security during the balance of the fiscal year.and(iii)any additional damages and expenses saslained by Lessor by reason of the breach of say covenant,representation or warranty
contained in this Lease other than for the paymens of amounts due hereunder.lb-31 enforce the security Merest given hereunder,(a-J)without nonce,Babiliry or legal process,enter upon the
premises where any of the Units or additional security nosy be and lake possession thereof,and(b'd)require Lessee to ream she Units and additional security as provided in Sections 10 Lessor shall
have all lilts given in.secured party by law, Provided Lessor receives possession of the Unila and additional secunry following an Event of Default.Lessor may,at in option widenake
community reasonable ble[Ron to sell release she Units said additional security,and the proceeds of any such sale or re-lease shall be applied: first,t, reimburse Lessor for all reasonable
expenses of retaking,holding,perpanng for sale or re-lease and selling m re-leasing the Units and additional security.including all taxes and seasonable aMme)b fees and expenses;second,to the
sum'nos previously paid by Lessee,w pay Lessor all anrrnlls except hese specified below,which under the emu of this Lease are due or have acemd ea of t e date of Lessors receipt of Said
premeds;third,so pay all law paynnenl charges pursuits to Section 3 hereof;and fourth,so pay Lessor the applicable Termination Value with mpecl to the Units. Any surplus shall be paid to she
pecan editkd thereto. Lessee shall promptly pay ally defickncy to Lessor. Lessee acknowledges that sales for cash don credit to a wholesaler,mailer or user of the Units am all commercially
rtasonsble. Lessee arses no pay all minable named'fees and all coo and exposes incurred by Lessor in enforcing this Lease. The remedies herein provided shall be cumulative and in
addition m all other remedies s law or in equips;provided.however.Lessor shall not be ridded to=cover a greater smunsiu damages than Lessor could have gained through Lessee's full timely
and complete performance under this Lease.plus all fees.costs and eapemes incurred by Lessor enforcing this Lease and all lase payment eineges pursuit'to Sec'ian L. If Lessee fails'
prom any of in obligations under this Lease.Lessor oily(bus need nos)at any him thceafen pedant,such obligation,and the expenses insured in connection therewith shall be payable by
Lessee upon demand,
ID. RETURN OF UNIT: Upon.Any tem'ivation of the term of this Lease with respect In each Unit or if Lessor shall rightfully demand possession of any Unit,Lessee,at its expense,shall
forthwith deliver the Unis so Lessor,appropriately protected and in the mdinon required by Section 4,at the option of Lesror,ate premises of the nearest Caterpillar dealer selling equipment of
die same type as the Unit or on board such cannier as Lessor shall specify and shipping the same,freight collect,to the destinamn designated by Lessor. If the Unit is not in the condition required
by Section 4,Lessee shall pay to'Lessor,ones dmmM,all costs and expenses incurred by Lessor to bring die Unit into said<ra dition.
I I. REPORT TO IRS: Lessee will'epdi'his Lease so the Internet Revenue Service by filing Form 1031-6.8031.OC or 8°38 whichever is applicabte. Failure to do so will cause the Lease to
lose its the exempt sutra.Lessee agrees that if die appeopeiau rams is it filed.IM interest rate will be adjusted man equivalent taxable interest rate.
IS.TITLE,SECURITY INTEREST AND FURTHER ASSURANCES:Prodded(a)Lessee has accepted each Unit on its delivery date;(b)the Delivery Date of she Unit ism or prior to the
Credit Usilieadm Data noted on she face hereof;and(e)no Evens of Default exists as of the Delivery Date of the Unit.silk to each Unit shall vest in Lessee on the Delivery Dale of the Unit,
provided,however,that in she evens(i)this Lease is teminated pursuant to Section L hereof,or(ii)an Event of Default has occurred and is continuing,side to the Unit shall immediately reveal in
L.mor,free of any right,dile and insemR of Lessee.unless Lessor elects otherwise in writing. Lessee hereby grants to Lessor a continuing staidly interest in the Units.including all attachments,
and optional features(whether or m mnte s installed thereon)and ell substitutions,replace additions and accessions hereto,and all proceeds of all of'he foregoing,including,bus not
limited to▪ e,pmueds in the ferns ofchale%papers secure the payMeill of all sums due. Lessee will,at its expense,do any rusher act and exeunt,acknowledge.deliver,file, and record
{ register app esor as
Lasers Alice which Lessorihe may ing and fiinqufncOdertopaten Lessors security it sense in the Units power rights and femerepunder WisLease,
warrants
ans10 Mesby this LesLeahp
Lessee's re Anomovenflee for signing and spine of such docBunmmne and in"): a Lessor w delonch these limited powers.ssLessee further represents Rusin and wamne isof Lessor the Leave is and
Snell rtnsm a loo+ennnsnul registered m the sue ol'CO I"tlusnn'eu Location"):and Lessee will not change its form of Umineu organization or Business Lanion without prior Weston notice to
Lessor
IJ. ASSIGNBIENT;COUNTERPARTS:Without she prior wrinen consent of Lessor,on assignment of this Lease or any tight or obligation hereunder may be made by Lessee or any assignee of
Lessee. Lessor nay woo assign its right,auk and interest in sod to this Lease and the Units and/or grans or assign a=curly Wieser in this Lease and the Unit;in whole or in pan Although
multiple counterparts of this document nay he signed,only she counterpart accepted,acknowledged and certified by Caterpillar Financial Services Corporation on the signature page thereof as the
o naiad will mmnute original annel paper.
la, EFFECT OF WAIVER: No delay or omission a exercise any right or remedy accruing to Lessor hereunder shall impair any such right or remedy nor shall h be mooned to be a waiver of
any breach or def di of Lessee. Any wives or consent by Lessor under this Lease maul be In wining specifically set foam. This Least completely stews the rights of Lessor and Lessee wish
respect to the Units and supersedes all prior agreements ands resleci'Meio. Time is of the essence of this Lease. No variation or modifcasion of Nis Lease shall he valid unless ting and
signed byte authorized erpmenusives of Lessee and Lessee. All wakes hereunder shall be in writing.eddwed to each party al the address set forth on she front of this Lease or at such other
address as nay be furnished in writing. If say provision of this Lease shall be invalid under any applicable law,such provision shall be deemed omitted but the remaining provisions shall be given
effect All obligation of Lave wider this Lease shall survive the expiration or lemsintion of this Lease to the extent required for their full observance and pezfon'ude.
IS. GENERAL:This Leaseshall be governed by and consumed under the laws of the State where the Units are located
EXHIBIT 2 (multiple assets)
Concluding Payment Schedule to
Governmental Agreement
Dated MAY 1 /142002
between
Caterpillar Financial Services Corporation
and
WELD,COLORADO,COUNTY OF
Description of Unit:1 Caterpillar 623G serial number ARW00384
Number
of
Payments Beginning Payment Interest Concluding
Date Made Balance Amount 4.80002% Payment(')
- May-01-02 0 460,000.00 0.00 0.00 460,000.00
Jun-01-02 I 460,000.00 8,638.67 1,840.00 453,201.33
Jul-01-02 2 453,201.33 8,638.67 1,812.81 446,375.47
Aug-01-02 3 446,375.47 8,638.67 1,785.50 439,522.30
Sep-01-02 4 439,522.30 8,638.67 1,758.09 432,641.72
Oct-01-02 5 432,641.72 8,638.67 1,730.57 425,733.62
Nov-01-02 6 425,733.62 8,638.67 1,702.93 418,797.88
Dec-01-02 7 418,797.88 8,638.67 1,675.19 411,834.40
Jan-01-03 8 411,834.40 8,638.67 1,647.34 404,843.07
Feb-01-03 9 404,843.07 8,638.67 1,619.37 397,823.77
Mar-01-03 10 397,823.77 .8,638.67 1,591.30 390,776.40
Apr-01-03 I I 390,776.40 8,638.67 1,563.11 383,700.84
May-01-03 12 383,700.84 8,638.67 1,534.80 376,596.97
Jun-01-03 13 376,596.97 8,638.67 1,506.39 369,464.69
Jul-01-03 14 369,464.69 8,638.67 1,477.86 362,303.88
Aug-01-03 IS 362,303.88 8,638.67 1,449.22 355,114.43
Sep-01-03 16 355,114.43 8,638.67 1,420.46 347,896.22
Oct-01-03 17 347,896.22 8,638.67 1,391.59 340,649.14
Nov-01-03 18 340,649.14 8,638.67 1,362.60 333,373.07
Dec-01-03 19 333,373.07 8,638.67 1,333.49 326,067.89
Jan-01-04 20 326,067.89 8,638.67 1,304.27 318,733.49
Feb-01-04 21 318,733.49 8,638.67 1,274.93 311,369.75
Mar-01-04 22 311,369.75 8,638.67 1,245.48 303,976.56
Apr-01-04 23 303,976.56 8,638.67 1,215.91 296,553.80
May-01-04 24 296,553.80 8,638.67 1,186.22 289,101.35
Jun-01-04 25 289,101.35 8,638.67 1,156.41 281,619.09
Jul-01-04 26 281,619.09 8,638.67 1,126.48 274,106.90
Aug-01-04 27 274,106.90 8,638.67 1,096.43 266,564.66
Sep-01-04 28 266,564.66 8,638.67 1,066.26 258,992.25
Oct-01-04 29 258,992.25 8,638.67 1,035.97 251,389.55
Nov-01-04 30 251,389.55. 8,638.67 1,005.56 243,756.44
Dec-01-04 31 243,756.44 8,638.67 975.03 236,092.80
Jan-01-05 32 236,092.80 8,638.67 944.37 228,398.50
Feb-01-05 33 228,398.50 8,638.67 913.59 220,673.42
Mar-01-05 34 220,673.42 8,638.67 882.69 212,917.44
Apr-01-05 35 212,917.44 8,638.67 851.67 205,130.44
May-01-05 36 205,130.44 8,638.67 820.52 197,312.29
Jun-01-05 37 197,312.29 8,638.67 789.25 189,462.87
Jul-01-05 38 189,462.87 8,638.67 757.85 181,582.05
Aug-01-05 39 181,582.05 8,638.67 726.33 173,669.71
Sep-01-05 40 173,669.71 8,638.67 694.68 165,725.72
Oct-01-05 41 165,725.72 8,638.67 662.90 157,749.95
Nov-01-05 42 157,749.95 8,638.67 63100 149,742.28
Dec-01-05 43 149,742.28 8,638.67 598.97 141,702.58
Jan-01-06 44 141,702.58 8,638.67 566.81 133,630.72
Feb-01-06 45 133,630.72 8,638.67 53432 125,52637
Mar-01-06 46. 125,526.57 8,638.67 502.11 117,390.01
Apr-01-06 47 117,390.01 8,638.67 469.56 109,220.90
May-01-06 48 109,220.90 8,638.67 436.88 101,019.11
Jun-01-06 49 101,019.11 8,638.67 404.08 92,784.52
Jul-01-06 50 92,784.52 8,638.67 371.14 84,516.99
Aug-01-06 51 84,516.99 8,638.67 338.07 76,216.39
Sep-01-06 52 76,216.39 8,638.67 304.87 67,882.59
Oct-01-06 53 67,88239 8,638.67 271.53 59,515.45
Nov-01-06 54 59,515.45 8,638.67 238.06 51,114.84
Dec-01-06 55 51,114.84 8,638.67 204.46 42,680.63
Cat Quote Software 8.01 104-515 Page 1 Caterpillar Financial Services Corporation
EXHIBIT 2 (multiple assets)
Concluding Payment Schedule to
Governmental Agreement
Dated MAY 1 ,i 2002
between
Caterpillar Financial Services Corporation
and
WELD,COLORADO,COUNTY OF
Description of Unit:I Caterpillar 623G serial number ARW00384
Number
of
Payments Beginning Payment Interest Concluding
Date Made Balance Amount 4.80002% Payment(")
Jan-01-07 56 42,680.63 8,638.67 170.72 34,212.68
Feb-01-07 57 34,212.68 8,638.67 136.85 25,710.86
Mar-01-07 58 25,710.86 8,638.67 102.84 17,175.03
Apr-01-07 59 17,175.03 8,638.67 68.70 8,605.06
May-01-07 60 8,605.06 8,639.67 34.61 0.00
TOTAL 518,321.20 58,321.20
ail
(*)Does not include any rent payment or other amount then due.
Initialed:
(Lessee)
Cat Quote Software 8.01 104-515 Page 2 Caterpillar Financial Services Corporation
DELIVERY SUPPLEMENT
This pertains to the Lease, dated as of MAY 1 9009 , between Caterpillar Financial Services
Corporation as Lessor and WELD COUNTY,COLORADO as Lessee.
This confirms that the Lessee physically received the following Unit on the possession date below. As of the date of
signature of this form,(i)the Unit is in all respects satisfactory to Lessee for leasing under the Lease, and(ii)Lessor has
performed all of its obligations under the Lease.
Description of Unit:
(1) 623G New Caterpillar Scraper
ARW00384
Location: GREELEY,CO
County: WELD
Equipment Located: Inside or Outside City Limits
Possession Date: •
WELD COUNTY,COLO O
Signature_,!^ie
•
Name(PRINT) Glenn Vaad
Title Chair
Date 05/08/2002
CATERPILLAR FINANCIAL SERVICES CORPORATION("CFSC") Page 1 of 2
CONSTRUCTION EQUIPMENT APPLICATION SURVEY
•
Customer Name: WELD COUNTY,COLORADO Location: 1111 H STREET, GREELEY,CO 80632
Make: Caterpillar Model: 623G Quantity: I Serial Number: ARW00384
Monthly Usage: 100 Current Hours: 15 Dealer: WAGNER EQUIPMENT CO. Dealer Location: DENVER, CO
*****IMPORTANT INFORMATION *****
RESIDUAL EXCEPTION REQUESTS must be submitted to the CFSC for the following applications:landfill, transfer and recycling
stations; demolition, scrap yards and steel mills;salt, chemical, and corrosive environments such as feed lots, dairy farms, rendering
plants,mushroom farms, fertilizer and lime handling, salt water areas and all hazardous waste handling;dusty or poor underfoot
conditions;all underground mining applications. Any applications requiring unusual attachments, equipment modifications or have
non-traditional use of the equipment. Any transaction with five or more of one model.
Please COMPLETE THE ENTIRE SURVEY for all transactions including any of the above applications.
MAJOR ATTACHMENTS (Check all that apply) :
0 4 Wheel Drive 0 Slope Board _ ❑ Pallet Forks ❑ Ra
ke
Landscape
AugerCIpCI Concrete Crusher
❑ Tiller 0 Rotator ❑ Metal Shear
❑ Forks
❑ Cab Riser ❑ Access Platform ❑ Snow Plow ❑ Ride Control ❑ Long Reach Stick
❑ Delimber ❑ Block Forks 0 Top Clamp ❑ Saw Head
❑ Mower •
❑ Generator ❑ Cold Planer ❑ Air Conditioner ❑ Solid Tires ❑ Ripper
❑ Lumber Forks ❑ E-Stick ❑ Broom ❑ Trencher ❑ Shear Head
❑ OHT Body Liner ❑ Grapple ❑ Compactor ❑ All Wheel Steer ❑ Special Rims
❑ Rotasaw ❑ Magnet ❑ Feller 8uncher ❑ Cab ❑ Winch
Other:
BLADES AND BUCKETS (Check all that apply) :
❑ "PAT'Blade ❑ Side Dump Bucket ❑ Landfill Bucket ❑ Chip Blade ❑ Angle Blade
❑ Bottom Dump Skt ❑ 'SU"Blade •
_ ❑ GP Bucket ❑ Coal Blade
❑ Ejector Bucket ❑ Carry Dozer Blade . ❑ Slag Bucket El Multi-Purpose Bkt ❑ High Volume Bkt
❑ Landfill Blade ❑ Front Dump Bucket 0 'U"Blade ❑ Straight Blade ❑ Rock Bucket
Other:
MARKET CATAGORIES (Check All That Apply)
❑ Heavy Construction•Airports,Bridges,Dams,Highways/Road ❑ Quarry •Granite,Limestone,Sand&Gravel
El Building Construction•Commercial,Residential,Utilities ❑ Forest Products•Loading,Road Construction.Skidding,Timber Harvesting
❑ Landscape Construction—Commercial,Residential ❑ Forest Products•Mill and Yard Operations
❑ Mining—Metals•Copper,Gold,Iron,Lead,Silver,Underground,Uranium,Zinc ❑ Industrial—Dairy/Mushroom Farm,Demolition,Feed Lot,Fertilizer/Lime Handling,
• Landfills,Rendering Plants,Scrap Handling,Steel Mill,Transfer Stations
❑ Mining—Non-Metals•Clay,Coal,Oil Sands,Oil Shale,Peat,Underground El Governmental•Road Maintenance,Snow Removal
Cl Petroleum&Gas•Exploration and Development Pipelines ❑ Rental Services•Rental Fleets
i
This application survey is considered to be an integral part of the lease between the Lessor and Lessee. The information obtained from this survey will be of primary importance in the lease payment
schedule. Any change in the location,severity of application,annual hourly usage and/or attachments or configuration must be approved in writing by Caterpillar Financial Services Corporation.
NOTE: APPLICATION SURVEY MUST BE SIGNED BY LESSEE AND AUTHORIZED DEALER REPRESENTATIVE
SEE REVERSE SIDE FOR ADDITIONAL TERMS AND CONDITIONS WHICH ARE PART OF THIS CONTRACT
For the Lessee: WELD COUNTY,COLORADO Dealer Management Reviewer:
Date: 05 08 002 Date: 5/1/02
Signature: Signature:
Print Name: Glenn Vaad Print Name: K-C.WARE
Title: Chair Title: FINANCIAL SERVICES MANAGER
Company: Weld County Board o£ Commissioners Company: WAGNER EQITTPMENT CO
CFSC Reviewed by:
MANDATORY CONDITION OF EQUIPMENT UPON RETURN: Page 2 of 2
Not withstanding the provisions of(check appropriate box):
❑ Sections 4 and 9 of the Master Tax Lease ❑ Sections 5 and 12 of the Finance Lease
❑ Sections 4 and 9 of the Master Finance Lease ❑ Sections 5 and 13 of the Long-Term Rental Agreement
(2.--
Sections 4 and 9 of the Governmental Lease-Purchase Agreement
Lessee agrees that each Unit,upon its return,shall:
MAINTENANCE AND GENERAL REQUIREMENTS: • • Ensure all window glass is clear, and free from cracks and major pits, all window
• Give the Lessor sixty(60)days notice prior to the Lease termination date of Lessee's frames, doors and weather stripping are complete, and all service access
intention to return any and all units to the Lessor. compartment covers and doors,fenders,and other fiat metal or plastic surfaces are in
• Return the units in the same configuration,with all attachments,as when delivered at good working order and free from dents and cracks.
lease inception. Lessee is responsible for costs,including but not limited to,fees, • Ensure all standard Caterpillar and non-Caterpillar safety items are complete and in
taxes and duties associated with tear down,loading,shipping and unloading of units to good working order,including but not limited to,roll over protection(ROPS)and falling
a site designated by the Lessor, object protection(FOPS)systems,seat belts,steps,safety rails,grab irons,cat walks,
• Ensure the units upon return are thoroughly cleaned,steam cleaned if available,and fire suppression systems,waming alarms,cameras and monitors.
free from all oil,hydraulic and fuel leaks. • Ensure all electrical components,including but not limited to,wiring hamess,batteries,
• Operate and maintain all units in accordance with Caterpillar Lubrication and altemators,drive belts,lighting and air conditioning systems are complete and in good
Maintenance and Operators guide books,and insure all maintenance is performed at working order.
recommended intervals and only genuine Caterpillar fillers and parts are used for all • Ensure all repairs made to main structures,including but not limited to,main frames,
maintenance and repairs. All units must be in good operating condition and be able roller frames,dar bodies,swing gears,drawbars,circles,component housings,loader
to perform all tasks under rated load. arms, booms, sticks, tag links, loader linkages, truck bodies, buckets, rippers, and
• Enroll all units in a Caterpillar dealer Scheduled Oil Sampling(SOS)or comparable arches must be accomplished in accordance with factory recommended materials and
program,where available,for the entire term of the lease,and insure all fuels, repair procedures.
lubricants,additives,and radiator water is clean and complies with Caterpillar
recommended standards. REMAINING LIFE REQUIREMENTS:
• Ensure all units are operated only in the applications for which they were designed and • Ensure all ground engaging tools,including but not limited to,buckets,dozer blades,
manufactured. base cutting edges,rippers,scarifiers,drums,feet,tines,screeds,elevator flights,
• Maintain a working engine hour meter at all times. Keep complete records of all hour forks,and top clamps have good structural integrity and have fifty percent(50%)
meter changes along with major component change outs and routine maintenance and minimum remaining life.
repair records. • Return all track and rubber belted units with a minimum of fifty percent(50%)
• Ensure all service contracts are fully implemented and all maintenance and repairs are remaining life on each and every component,including but not limited to,track shoes,
made on schedule. Product Improvement Programs(PIP's)must be complete before links,pins,bushings,idlers,bogies,sprockets,caner rollers,and track rollers. Belts
units are returned. ATTACH A COPY OF ANY AND ALL REPAIR AND can not have any cuts that extend into the cords and must not be missing guide
MAINTENANCE CONTRACTS AND PLANNED COMPONENT REPLACEMENT blocks or grouser bars(lugs). Charges will be assessed for each component not
PROGRAMS. meeting the requirement
• Provide a secured place to store off-lease units upon request from the Lessor. - • Retum all rubber tire units with a minimum of fifty percent(50%)remaining life of the
Provide access to the units for purposes of maintenance or demonstration to original tread life of each tire. Recapped tires are not acceptable substitutes. All tires
prospective buyers at Lessor's request. must be a matched set with the same tread type and pattem and have no significant
cuts or chunking of the tread or side walls. Skid Steer tires are exempt from this
SPECIFIC TINWARE AND SAFETY REQUIREMENTS: provision.
• Ensure the operator's compartment is clean, and all switches, monitoring systems
(EMS.VIMS,VIDS).gages,control levers,pedals,radio,mirrors,seats,insulation and
all other contents are complete and in good working order.
LESSOR RETAINS THE RIGHT TO ASK FOR ANY AND ALL REPAIR AND MAINTENANCE RECORDS DURING THE LEASE TERM
AND/OR LEASE TERMINATION. A FULL MACHINE INSPECTION MAY BE CONDUCTED AT LESSEE'S EXPENSE ANY TIME
EVIDENCE DEMONSTRATES MACHINES ARE BEING ABUSED FROM NEGLECT OR MISAPPLICATION.
REMEDY FOR RETURN CONDITIONS:
Lessee will be invoiced for the parts and labor based on your local Caterpillar dealer's retail prices and retail labor rates to replace tires,undercarriage
components,belts and all other non-conforming components as outlined in the"REMAINING LIFE REQUIREMENTS"section of the Mandatory
Condition of Equipment Upon Return. The invoiced amounts will be based on the following percentages of remaining life and is payable upon receipt of
invoice:
Life Remaining Charge to Lessee
50%or greater No charge to Lessee
31%to 49% 50%charge to Lessee
0% to 30% 70%charge to Lessee
----------------
MAXIMUM USAGE: 0/„
The model listed and equippfd as stated above will be operated an estimated total of 1/28 hours per month over a term of 6 months for total usage
during the leasing term of/DvPDD hours. This total usage combined with any accumulated hours prior to the Lease inception date,as stated above under
current hours,will be the total allowable machine kV/ VD hours for the life of the Lease a and the basis for any overuse charges. /J
Total Lease Hours +Current Hours 75- =Total Allowable Machine Hours 6046-
OVERUSE CALCULATION:
In addition to the Lessor's other rights hereunder and not in lieu thereof, Lessee shall pay Lessor additional rent for each hour in excess of the
Total Allowable Machine Hours established for the Lease as stated above. This hourly rate shall be$43.93 per hour. Please note: To avoid
overuse charges, notify Cat Financial immediately'of any increase in machine usage that will cause the total usage to exceed the "Total
Allowable Machine Hours" as stated above. The Lease contract will be adjusted to reflect the correct hour usage.
EQUIPMENT:
(I)623G New Caterpillar Scraper ARW00384
RE: INSURANCE COVERAGE FOR LEASED EQUIPMENT
Per the Lease agreement between WELD COUNTY, COLORADO 933 N 11TH AVE P.O. BOX 758 GREELEY, CO 80632 and Caterpillar
Financial Services Corporation ("Caterpillar Financial"), it is required that we be provided with insurance coverage in accordance with that
agreement as indicated below.
Physical Damage Coverage must show that Caterpillar Financial has been named loss payee for the equipment's replacement value. The deductible
must be shown.
Liability Coverage of a minimum of$1,000,000 or combined coverage for bodily injury and property damage per occurrence. Caterpillar Financial
must be named as additional insured.
Please notify your agent for the proper coverage, and list his name and location below. Our representative will follow up for confirmation of this
coverage. CIA
p q',7 /��
INSURANCE AGENT: l. /t Pl ��/1 Sf4-714-K2 I # / CONTACT PERSON: (4117 �Ch ftpm4Yl
ADDRESS: /la 0 73I oat:Cu/rt. /S7G PHONE NUMBER: 363 t3(O I" 0 S 7
,,i brit, do / go yo
IF EQUIPMENT HAS BEEN DELIVERED,WHEN WAS IT DELIVERED?
PROCESSING OF THIS TRANSACTION WILL BE HELD PENDING RECEIPT OF THIS INFORMATION.
PLEASE FORWARD CERTIFICATE TO:Caterpillar Financial Services Corporation,2120 West End Avenue,Nashville,TN 37203
tem lon„4S - iMsI•wane]Mn er
To: Caterpillar Financial Services Corporation
OPINION OF COUNSEL
Re: Governmental Lease-Purchase Agreement
Dated as of MAY 1, 2002 (the"Lease")
Between Caterpillar Financial Services Corporation("Lessor")and
WELD COUNTY,COLORADO ("Lessee").
Sir/Madam:
I am an attorney for Lessee, and in that capacity I am familiar with the above-referenced transaction, the Lease, and
all other documents pertaining to the Lease.
Based on my examination of these and such other documents, records and papers and matters of fact and law as I
deemed to be relevant and necessary as the basis for my opinion set forth below, upon which opinion Lessor and any
subsequent assignee of Lessor's interest may rely,it is my opinion that:
1. Lessee is a fully constituted political subdivision or agency duly organized and existing under the Constitution and
laws of the State of Colorado and is authorized by such Constitution and laws to enter into the transaction contemplated
by the Lease and to carry out its obligations thereunder.
2. The Lease and all other documents contemplated by the Lease have been duly authorized, executed and delivered
by Lessee and constitute valid, legal and binding obligations and agreements of Lessee, enforceable against Lessee in
accordance with their terms.
3. The person or persons who have executed and delivered the Lease, and all other documents contemplated by the
Lease were authorized to do so on behalf of Lessee.
4. No further approval,license,consent,authorization or withholding of objections is required from any federal, state
or local governmental authority with respect to the entering into or performance by Lessee of the Lease or the
Schedules(s) and the transactions contemplated thereby, and Lessee has sufficient appropriations or other funds
available to pay all amounts due under the Lease for the current fiscal year.
5. The interest payable to Lessor by Lessee under the Lease is exempt from federal income taxation pursuant to
Section 103 of the Internal Revenue Code of 1986, as amended.
6. The entering into and performance of the Lease and all other documents contemplated by the Lease will not
conflict with or constitute a breach or violation of any judgment,consent decree,order, law,regulation,bond,indenture
or contract,applicable to Lessee or result in any breach of, or constitute a default under, or result in the creation of any
lien, charge, security interest or other encumbrance upon any assets of Lessee or the units leased under the Lease
pursuant to,any indenture,mortgage,deed of trust,bank loan,credit agreement or other instrument to which Lessee is a
party or by which it or its assets may be bound.
7. There is no litigation, action, suit or proceeding pending or, to the best of my knowledge, threatened against or
affecting Lessee in any court or before any governmental commission, board, agency, arbitrator or authority which, if
adversely determined,will have an adverse effect on the ability of Lessee to perform its obligations under the Lease. In
addition,I am not aware of any facts or circumstances which would give rise to any litigation, action, suit or proceeding
relating to or potentially adversely affecting the ability of the Lessee to perform its obligations under the Lease.
8. The units leased under the Lease are personal property and, when subject to use by Lessee, will not be or become
fixtures under the laws of the State of Colorado.
9. The authorization, approval and execution of the Lease,the Schedule(s) and all other documents contemplated by
the Lease and all other proceedings of the Lessee related to the transactions therein and contemplated thereby have been
performed in accordance with all open meeting laws, public bidding laws, and all other applicable laws of the State of
Colorado.
10. The Lessor will have a perfected security interest in the Units upon filing with the Secretary of State for the State
of Colorado and/or the of at the time of acceptance of the
Units of an executed UCC-1 or other financing statement.
Yours sincese₹j7`,2 7
Signatures 2
Name(PRINT): Bruce T. Barker
Title: County Attorney
Date: 05/08/2002
Address: 915 10th Street
Greeley, CO 80631
Telephone: (970)356-4000 X4391
•
Fens w .
CUSTOMER INFORMATION VERIFICATION
In our efforts to continue providing timely customer service, we need your assistance confirming the following information. If any information is
incorrect or missing, please note the necessary changes below and return this form with your signed documents. Thank you in advance for your
cooperation.
Current Information on file Please make corrections here
Customer Name: WELD COUNTY,COLORADO
Physical Address: 933 N 11TH AVE,P.O.BOX 758
GREELEY,CO 80632
Mailing Address: P.O.BOX 758
GREELEY,CO 80632
Equipment Location: 1111 H STREET
GREELEY,CO 80632,WELD
Business Phone: (970)356-4000
Fed.ID#or SS#: 846000813
E-mail Address:
Accounts Payable Contact
Name and Phone:
Tax Information
Sales Tax Rate: 0
(Please note:Sales Tax
Rate,includes all
applicable State,County,
and City sales tax)
City Limits Asset outside the City Limits?Yes_No_
Tax Exemption Status Please indicate if you are tax exempt.
If you are tax exempt—please enclose a current
tax exemption certificate to be returned with
your documents—Not needed by CFSC if dealer
ISC
Other Information:
.I.cum:sworn
COVER SHEET
TO: Rick May CUSTOMER: Weld County
FROM: MACHINE: Caterpillar 623G
DATE S/N: ARW00384
RETURN TO: Erika Raglin
Attached are the documents indicated below covering the transaction on the above
referenced customer:
Government Lease Purchase Agreement
Lease
Installment Sale Contract (Security Agreement)
Trailer Lease
Please have the original documents signed as soon as possible and return to the Financial
Services Department. The second set of documents is to be retained by the customer,
for his files
Hello