HomeMy WebLinkAbout20052514.tiff RESOLUTION
RE: APPROVE MASTER LEASE AGREEMENT AND ADDENDUM FOR STATE AND LOCAL
GOVERNMENT AND AUTHORIZE CHAIR TO SIGN - DEERE CREDIT, INC.
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 a Master Lease 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 Deere Credit, Inc., commencing
September 1, 2005, with further terms and conditions being as stated in said agreement, and
WHEREAS,after review,the Board deems it advisable to approve said 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 Master Lease 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 Deere Credit, Inc., be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to
sign said agreement.
The above and foregoing Resolution was,on motion duly made and seconded,adopted by
the following vote on the 24th day of August, A.D., 2005.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST: gety
William H. J e, Chair
Weld County Clerk to th o.
t
..8nh 1861 D• 'r: .' �
'.', b`� M. ile, Pro-Tem�
BY: i. !_,f._: S!* �� '
Deputy Clerk to the U
D 'd Long
AP VE AS TO FO
G Robe . Masd
ounty Att ey
Glenn Vaa
Date of Signature: Q/
2005-2514
Pte, tjcCt EG0052
0q-08^�O�
DEC-15-05 THU 01:21 PM DEERE LEASING FAX NO. 18002540020 P. 02
t<ski JOHN DEERE RECEIVED Master Lease Agreement
CREDIT AUG 2 r,b 'gementNo. 0057622
Lessen: WELD COUNTY
1111 HST.GREELEY,CO 80637-0736 gin rRpl'1lT I
DEERE CREDIT,INC.
Loeser 6400 NW 6&1I Sr,PO BOX 6600.JOHNSTON,IA 50131-5600
This Muller Luaso Agreement("Master Agreement-)is entered into between Deere Credit, Inc.,as lessor("we","us"or"our),and th' lessee and any ens
tessee ttimeli ed below("you"or"your"). "Schedule'shall menn any Lem Schedule signed by you and us,which Incorporates thdt[emu of this Master
Agreement. "Lease shalt mean this Master Agreement and any Schedule. ___ _ _
TERMS AND CONDITIONS Equipment In accordance with all (1) laws, ordinances]and regulations, (7)
1. Lassa, r m• a mtnte. You agree to lease from us thepropertyni mats and other instructions issued by the manufacturers)and supplier(s),
I f.. ._ in ea e end (3) insurance policy terms and requirements; (d) perform (at your own
("Equipment")described in each m Star Schedule for the Lease Term. The Lease expense)all maintenance and repairs necessary to keep•the Equipment in as
Term will begin on the Lease Term Start['rite and end on the Lease Term good a condition as when delivered to you,reasonable vv;�yyyar excepted;(e)not
End Date. All allurhmanl9 and accessories itemized on the Schedule and install any accessory or device on the Equipment whfc affects the value,
all replacements,pert&and repairs to the Equipment shall form part of the useful life or the originally intended function or use of II Equipment in any
Equipment. A Schedule Is not accepted by us until wa stye It,even if you way,unless it can be removed without damaging the Equipment; (f) allow us
have made a payment to us. You agree to remit to us the Lease Payments and our agent(s)to inspect the Equipment and all of your,leeoeis related to its
indicated In the Schedule and all other amounts when duo and payable use,maintenance and repair, al any reasonable time; (g)keep any metering
ends Billing Period,even if we do not send you a bill or an invoice.YOUR devce installed on the Equipment connected and In good working condition at
ANDMART. OBLIGATIONS SUBJECT ARE ABSOLUTE AND UNCONDITIONAL, all limes;(h)affix and maintain,in a prominent place 0 the Equipment,any
SETOFF
ARE FOR ANY T REA TO CANCELLATION,any payment
which h OR labels,plates or other markings we may provide to you;rt)nd(I)net permit the
SETOFF REASON WHATSOEVER. For payment is Equipmeht to be used by,or to be in the possession of,anyone other than you
not received by its rata dole,you agree lu pay a late charge equal 10 4%or or your employees, 1
the pest due amount(net to exceed the maximumamount permitted by law) 6. Insurance. You agree,at your cost, to(a)keep the Equipment insured
as reasonable collet-Alen costs,plus interest from the due date until paid at against all asks of physical damage for no less than Its Termination Value(as
a rale of 1.5% per month, but in no event more than the maximum lawful such term Is defined In Secitan 8 below),naming us(and our successors and
rnto. Restrictive11mienendorsements us. I on checks you send us will net change bak or assigns) as sole loss payee; and (b) maintain public liability insurance,
ra!lucn your ubllyaliune to us. If a payment is returned to us by The bank for covering personal injury and property damage for not less than$1,000,000 per
any reason,you ogres to pay us a fee of$25.00,or sthe other m amount occurrence, naming us (and our successors and assigns) as additional
may b fl bylaw, our cis r is loss. anyLeesePayments and payments insured. All Insurance must be with companies and policies acceptable to us.
may be applied,at our discretion,to any obligation you may have to us or Your obligation to insure the Equipment continues until you return the
any of our affiliates. If the total of all payments made during the Lease Equipment to us and we accept it. Each insurance policy must provide that(A)
Term(and any less
thanRenewal Term),exceeds total of all amounts due under our interest In the policy will not be invalidated by any act,omission,breach Or
the Lease by lass than$25.00,we may retain such excess. neglect of anyone other than us;and (B) the insurer will give us at toast 30
2.Security
Dowel ly flennsit. If the Scledulo p a non for a Security Deposit nt,he
dayss'prior written notice before any cancellation of,or material change lo,the
Security ed wit be hold by us in a non-Interest bearing account, policy.
ylad with other Lease
funds. We may apply the Security Deposit to any Unless you provide us with evidence of the required Insurance coverages,
amounts due under Ute Lea and,If we do so,you agree to promptly remit we may purchase insurance,at your expense, to protect our Interests in the
to us the amount necessary to rettoto the Security Deposit to the original Equipment. This insurance may not (1)protect your Interests;or(2)pay any
nmoent. The Security Deposit will be be returned le you within thirty days or claim that you make or any claim that is made against you In connection with
termination of a Schedule and final Inspection by us,provided you are not the Equipment. You may later cancel any insurance purchased by us,but only
In default after providing us with evidence that you have obtained the insurance required
3. Taxes. You agree to pay us when invoiced, all sales, use, rental, by the lease. The cost of the Insurance may be more than the cost of
gross receipts and all other taxes which may be Imposed on the Equipment Insurance you may be able to obtain on your own.
or U to s use. You agroe,at our discretion,to either(a)reimburse us annually 7'
Less or ggamaeo. Until the Equipment is returned to us in satisfactory
(or all cocci and Euip charges including,
with the ownership,use condition, you are responsible for all risk of loss and damage, loss, theft,
et petty ion al the Equipment including, but not limited to, personal deslruotion or seizure of the Equipment (an "Event of Loss"), You must
property and?dolmen)estm [axes ("Property Taxes"), or(h)remit to us each promptly notify us of any Event of Loss. If the Equipment can be repaired or
Billing Period our ated e of the pro-rated equivalent of such Property replaced,you agree to promptly repair or replace the Equipment,at your cost,
Taxes. If the Property
axe Properly Taxes paid by you are greater than or loss and the terms of the Lease will continue to apply. If the Equipment cannot be
than 0 i Property Taxes paid by us,no will be made. Taxes do repaired or replaced,you agree to pay us,within 10 days of the Event of Loss,
MI include those tar the raJ byce our net Income. You agree to pay us an its Termination Value as of the day before such Event of Loss occurred. Upon
adrnilbe duce f11d rue processing the of taxes, aswsable or foes which receipt of the Termination Value, we will transfer to you (or the Insurance
may be due end poyuble under the Lease. If applicable law requires tax company)all of our right,title and interest In such item(s)of Equipment(each,
returns or reports to be filed by you, you agree to promptly file such tax an "Item") AS-IS, WHERE-IS, WI fFIOUT ANY WARRANTY AS TO
rolurns end us all and deliver copies to us. You idagree to keep and make CONDITION OR VALUE. All insurance precoods must be paid directly to us.
a y:tee le to us all tax returns and reports for taxes paid by you. and we may apply any excess insurance proceeds to any other amounts you
•1. secprity,(niorga right
g,lnfg_rmalion. We are the owner of the owe us or any of our affiliates.
Equipment and you the right to use lull Equipment under the terms of 8 Early Termination. If you request,and we agree to,a termination of a
the Lease. If a Scheduleus Is deemed to be a secured transaction and not a Schedule before the expiration of its Lease Term,you agree to(a)deliver the
lease, you (a) prate us a security Interest In the Equipment (and all Equipment to us at the time and place we choose;and(b)if the net proceeds
proceeds)to secure all of your obligations under the lease and any other we receive from any sale, lease or other disposition of the Equipment (after
obligations, which you may have, to us or any of our affiliates, and (b) deducting all of our costs and expenses)is loss than the Termination Value,
authorize lie' to file financing statements naming you as debtor. Upon remit to us the difference.The'Termination Value"of any Item of Equipment
exercise of any Purchase Option Price,we will release our security Interest shall be the greater of Fair Market Value or Net Book Value as of the date of
in the Equipment provided you have remitted the Purchase Option Price to determination of any early termination,loss or default. "Fair Market Value'or
no and no event of default has occurred and is continuing, You agree to "FMV"Is (1)the value that would be obtained in an arm's length sale of that
those In our favor,
keep the Equipment l free and clear of liens and encumbrances, except Item between an informed and willing seller under no compulsion to sell(but
and promptly nobly us it a lien nr encumbrance is placed with no deduction for shipping costs),and an informed and willing buyer, as
or threatened against the Equipment. You irrevocably authorize us,at any estimated by us;plus(2)the estimated cost to repair and refurbish use Item so
limo, to (a) Insert Cr rxbroci infunneuion on the SCl ieallloa,indeding your that it is in satisfactory condition,as described in Section 9. "Net Book Value"
cnnwel Inyat nnmn,serial numbers and Equipment descriptions;(b)submit for any Item is the suns of(1)all Lease Payments and any other amounts then
nitres rind proofs of loss rue any required insurance,and(c)endorse your due and payable to us; plus (2) the present value of all remaining Lease
name on remittances for insurance and Equipment sale or lease proceeds. pa meets and other amounts,discounted at die Infernal Rate of Return or,if a
5. Equipment Maintenance, Dp and Usti; You agree to (a) discount rate is set forth in the applicable Schedule, such discount rate(the
USE THE f:QUIF'MPNT ONLY FOR AGRICULTURAL, BUSINESS OR 'Discount kale'); plus (3) the unamortized amount of our Indirect costs of
COMMERCIAL PURPOSES AND NOT the PERSONAL, FAMILY OR plus (4) the present
FIOUSCHOID PURPOSES;(b)not move the Equipment to another county originating and administering the applicable Schedule; p
or state without notifying us wI htn 30 days: (.9 operate and maintain the value of the Purchase Option Price (or,if there Is no Purchase Option Price,
u.a Mt A eMene Paan 1 of 2 App 86252
2005-2514
DEC-15-05 THU 01:21 PM DEERE LEASING FAX NO. 18002540020 P. 03
ADDITIONAL TERMS AND CONDITIONS OF AGREEMENT '
the residual value that we assumed in calculating Lease Payments), fees and costs ("Claims'). incurred or asserted by any person, In any
discounted at the Disedunl Rale.. "Internal Rale of Retunl"shall be calculated manner rotated to the Equipment or the lease thereof, including its use,
wing standard finance techniques with the Equipment Cost,Lease Payments, condition or possession. You agree to defend and indemnify us,and hold
Lease Tenn and Purchase Option Price(or residual value assumption)as the us harmless,against all Claims,although wo reserve the right to control the
variables. defense and to select or approve defense counsel. You will promptly nobly
0, Eteture pf.Equipment. 1f a Schedule is terminated for any reason and us of all Claims made. Your liability under this Section Is not limited to the
you do not(a)return the Equipment to us,(6)exercise any Purchase Option, amounts of insurance required under the Lease. This indemnity continues
or(c)exercise any Renewal Option,you agree to remit to us,until such limo beyond the termination of a Schedule,for acts or omissions,which occurred
as the Equipment Is returned In us in ascendance with the prevlsidns of this during the Lease Term.
Suction,lease payments each month equal to the higher of(i)the monthly fair 14. Representations and Warranties. You represent and warrant to us,
market rental value of the Equipment, as determined by us in our sole as of the date of this Master Agreement and of each Schedule, and
discretion,or(Ii)the monthly Lease Payment set forth in the Schedule(or the covenant to us so long as the Lease Is in effect,that(p)you will not change
monthly lease payment equivalent if the Lease Payments are other than your name without giving us at least 30 days'prior whUen notice;(b)each
monthly (e.g., for annual Lease Payments, the monthly lease payment document you sign and deliver to us is duty authorized, executed and
equivalent would be calculated by dividing the annual t ease Payment by 12)). delivered by you, and is your valid, legal and lbinding agreement,
All Equipment must be returned to the place designated by us, at your enforceable in accordance with its terms; (c) exeeution, delivery and
expense and in satisfactory condition, along with all use, maintenance and performance by you of any Lease does not and war;not (1) violate any
repair records. Equipment is In satisfactory condition if it is in as good a applicable law;(2)breach any order of court or other governmental agency,
condition as when the Equipment was delivered to you, reasonable wear or of any undertaking you arc a party to or by whic 'you or any of your
nxrepled,and conforms to the standards of any Equipment Return Provisions properties are bound; (d) you will comply with l applicable laws,
incorporated Into the Lease. ordinances and regulations;(e)all information you have given to us Is true.
10. gp�faull, You will be In default it: (a)you fail to remit to us any Lease accurate and complete;and (f)since the date of the'rqphost recent financial
Payment or other payment when due: (b) you breach any other provision of Information given to us, no material adverse chanf 6 in your business,
the Lease and such default continues for 10 days; (c) you remove any assets, or prospects has occurred. You will prompft deliver to us such
Equipment from the United Stales; (d)a petition Is filed by or against you or financial statements,reports and other information as a may request.
any guarantor under any bankruptcy or insolvency law; (e)a default occurs Unless you are an individual,you also represent a d warrant to us that
under any other agreement between you(or any of your affiliates)end us(or (a) you are and will remain duly organized, validly tokisting and in good
any of our aihliates);(Q you or any guarantor merges with or consolidates into standing under the laws of your jurisdiction of organization; (h) you ere
another entity, sells substantially all its asset;, dissolves or terminates its qualified to do business under the laws of all oUieit Jurisdictions whore
oxhlunco, or(if an Individual)dies; or(g)you fail to maintain the insurance qualification is required or advisable; (c) you will not change your
required by Snclinn 0. nine is of the essence under the Lease, jurisdiction of organization or organization type without at least 30 days'
11, jjetD(dias; If a default occurs,we may do ono or more of the following: prior written notice to us;and (d)the execution,delivery and performance
(a)require you to return the Equipment in the manner outlined In Section 9,or by you cf the Lease will not breach any provision or your organizational
lake possession of the Equipment; (h) recover from you, AS LIQUIDATED documents.
DAMAGES FOR LOSS OF BARGAIN AND NOT AS A PENALTY (i) if the 15. Governing Law' Jurisdiction' Venue. EACH LEASE WILL BE
Equipment is so returned,the sum of(1)all Lease Payments and any other GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE
anlnunts than duo and payable to us; plus (2) the present value of all LAWS OF IOWA,WHERE THIS MASTER AGREEMENT IS ACCEPTED
remaining tease Payments and other amounts, discounted at the Discount AND ENTERED INTO, except for its conflict of laws provisions. You
Rale;plus (3)the unamertlzed amount of our indirect costs of originating and irrevocably submit to the nonexclusive jurisdiction and venue of fedora!and
udmloltikutng the applicable Schedule (the "Dnfeult Amount"), or (it) if the state courts located in Des Moines, lewa and will not claim It is an
Equipment is not so returned, the Termination Value as of the dale of such inconvenient forum for legal action. YOU AND WE IRREVOCABLY
default; (c) loose or sell the Equipment or any portion thereof at a public or WAIVE ANY RIGHT YOU AND WE MAY HAVE TO A JURY TRIAL.
pdvato sale and apply the not proceeds we receive from any sale, lease or 16. Miscellaneous. WE HAVE NOT MADE,AND DO NOT MAKE,ANY
other disposition of the Equipment (after deducting all of our costs and REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO
expenses)to the Default Amount,with you remaining liable for any deficiency; THE EQUIPMENT'S MERCHANTABILITY, FITNESS FOR A
(d)declare any other agreements between you and us(ot any of our affiliates) PARTICULAR PURPOSE, SUITABILITY, OR OTHERWISE. WE ARE
in default:(s)terminate any of your rights(but none of your obligations)under NOT LIABLE FOR CONSEQUENTIAL OR SPECIAL DAMAGES. You
any Lease and any other agreement between you and us (or any of our acknowledge that no supplier or dealer of the Equipment is an agent of
alldiates); (f) charge you for the expenses incurred In connection with the ours, or authorized to act for or bind us. You agree not to withhold any
enforcement of our remedies Including.without limitation,repossession,repair amount you owe us If you believe you have a claim against us, or any
end Collection costs, attorneys' fees and court costs; (g) exercise any other Equipment supplier(s) or manufacturer(s), but to pursue that claim
remedy available at law or in equity; and (h) take on your behalf (at your Independently. My claim you have against us must be made within two
expense) any aclvn required by the Lena which you fail to take. These years after the event that caused it. All notices must be in writing and will
remedies are commutative, are in addition to any other remedies provided by be deemed given 5 days after mailing to the Intended recipient at Its
law,and may be exercised concurrently or separately. Any failure or delay by address indicated above,unless changed by a notice given In accordance
us to exorcise any right shall not operate as a waiver of any other right or with this Section, Each Lease supersedes and replaces all prior
future right, understandings and communications(oral or written)concerning the misled
12. Assignment. You will net assign, pledge or otherwise transfer any of matter thereof. No part of any Lease can be amended, waived or
your rights or interests In the Lease or any Equipment without our prior written terminated except bye writing signed by both you and us. Any part of this
cnn;.tnt. Any assignment without our consent will be void. The Lease shall Master Agreement may be signed In separate counterparts that,together,
be binding upon any successor or permitted assignee. Wo may assign the will constitute ono document If a court finds any part of this Master
Lease or our Interest In the Equipment at nny time without notice to you and Agreement to be invalid or unenforceable, We remainder of this Master
without your consent. We may provide information about you to any Agreement will remain in effect. You permit us to monitor and record
prenpaoUvo assignee or participant. You agree rot to assert against our telephone conversations between you and us. All of our rights under each
assignee any claims,offsets or defenses which you may have against us. Lease shall remain In effect after the expiration of the Lease Term or
13. Indemnity. You are responsible for all losses, damage, claims, termination of the Schedule.
611ringement clainh5, injuries to or the death of an individual,and attorneys'
THE TERMS OF i I IIS MASTL-R ACReiEMFN f SHOULD BE READ CAREFULLY BEFORE SIGNING BECAUSE ONLY THESE WRITTEN TERMS ARE
ENFORCEABLE NO 01HF.R 7FRMS OR ORAL PROMISES MAY BE LEGALLY ENFORCED. BY SIGNING THIS MASTER AGREEMENT,YOU AGREE
TO f I IC'I LiRMS ON HOTI-I APGES 1 AND 2. THIS MASTER AGREEMENT IS THE COMPLETE AND EXCLUSIVE STATEMENT OF Ti IE AGREEMENT
HtiTWEEN VOL I AND US,EXCEPT AS WE MAY LATE e)-�J� �h °STING TO MODIFY IT.
WELD COUNTY DEERE CREDIT,INC,
LESSEE 1111 H ST LESS•" 6400 NW 8Ge ST,PO BOX 6600
GREELEY,CO 60632-0735 AUG Z g ,,UG5 JOHNSTON,IA 50131-6600
t.. / µ�
*'�J� �CCt1CGflED1T lNL
�-trLJ -_
COMMISSION nCHAIRMAN ^' ��'.(j �� [�
Onto: _ND.41 2 4 ?005 546000813 Title: (r2 � .�j�.�L /�1.Dale: I+I dos
Fed.Tax ID/Soc.Sec.* 111
NCI MI.A 07/7e0ti P:mr re 2 App 86252
-gene._ n cC/U
DEC-15-05 THU 01:22 PM DEERE LEASING FAX Na 18002540020 P. 04
•
(IC JOHN DEERE State and Local Government
CREDIT Addendum
Master Lease Agreement No. 0057622
Lessee; WELD COUNTY
:ado,s Adode.) 1111 HST,S'r,GREELEY,CO 80632.0738 f I
!.asset: DEERE CREDIT,INC. ri
GAOO NW at ST,PO SOX 060e,JOI INSTON,IA 50131-6600
Addendum to that certain Master Lease Agreement dated as of 09/01/2005 (the "Master Agreerent"), and entered in by and between
Deere Credit,Inc.("Lessor")and Weld County("Lessee"). r•t
RECtfALS ElWHEREAS,Lessor and Lessee arc currently entering into the Master Agreement pursuant to which Lessor will lease ctain equipment to
Lessee; ll
WHEREAS,the parties wish to enter into this Addendum to more accurately reflect the understanding of the parties; ft
G
NOW,THEREFORE, in consideration of the mutual covenants contained in this Addendum and other flood and valuable consideration, the
receipt and sufficiency of which is expressly acknowledged,the parties hereto agree as follows: ,)
1. Capitalized terms not otherwise defined in this Addendum shall have the meaning provided to them in the Master Agreement.
2. Section 3 of the Master Agreement is hereby replaced In its entirety with the following:
3. Taxes. Although you may be exempt from the payment of certain taxes,you agree to pay us when invoiced(a)all sales,
use, rental, gross receipts and all other taxes which may be Imposed on the Equipment or its use, and (b) all taxes and
governmental charges associated with the ownership, use or possession of the Equipment including to,
personal properly and ad valorem taxes("Taxes"). Taxes do not include those measured by our net Incorri . I'�' 1 law
requires tax returns or reports to be filed by you,you agree to promptly file such tax returns and reports end deliver copies to
us. You agree to keep and make available to us all tax returns and reports for Taxes paid by you. AUG 2 (i 2005
3. Section 14 of the Master Agreement is hereby replaced In its entirety with the following:
DEERE CREDIT INC,
11. Representations and Warranties. You represent and warrant to us, as of the date of this Master Agreement and of
each Schedule, and covenant to us so long as the Lease is in effect, that:(a)you are a State,or a political subdivision
thereof, for purposes of Section 103 of the Internal Revenue Code of 1986, as amended (the "Code'); (b) any
documents required to bo delivered in connection with the Lease (collectively, the "Documents") have been duly
authorized by you in accordance with all applicable laws, rules, ordinances, and regulations; (c)the Documents are
valid, legal, binding agreements, enforceable in accordance with their terms and the person(s)signing the Documents
have the authority to do so, aro acting with the full authorization of your governing body, and hold the offices indicated
below their signatures; (d)the Equipment is essential to the immediate performance of a governmental or proprietary
function by you within the scope of your authority and shall be used during the Lease Term only by you and only to
perform such function;(e)you Intend to use the Equipment for the entire Lease Term and shall take ail necessary action
to include In your annual budget any funds required to fulfill your obligations each fiscal period during the Lease Term;
(f)you have complied fully with all applicable law governing open meetings,public bidding and appropriations,required
in connection with the Lease and the debt under applicable state law;(g)your obligations to remit Lease Payments and
other amounts due and to become duo under the Lease constitute a current expense and not a debt under applicable
state law; (h) all financial information you have provided is true and a reasonable representation of your financial
condition;(1)you shall not do or cause to be done any act which shall cause,or by omission of any act allow the Interest
portion of any Lease Payment to become includible in our gross income for Federal income taxation purposes under
trio Codo;0)you shall maintain a complete and accurate account of all assignments of the Lease In the form sufficient to
comply with book entry requirements of Section 149(a) of the Code and the regulations prescribed thereunder from
time to time;and(k)you shall comply with the information reporting requirements of Section 149(e)of the Code. Such
compliance shall include,but not be limited to,the execution of 0036-6 or 8038-GC Information Returns.
4. Section 14 of the Master Agreement is hereby replaced in Its entirety with the following:
14. Non•ApEropriation,of Funds. You intend to remit to us all Lease Payments and other payments for the full Lease
Term if funds fire legally available, In the event you are not granted an appropriation of funds at any time during the
Lease Torm for the Equipment or for equipment which is functionally similar to the Equipment and operating funds are
not otherwise available to you to remit Lease Payments and other payments due and to become due under the Lease,
and there Is no other legal procedure or available funds by or with which payment can be made to us, and the non-
npproprialion did not result from an act or omission by you,
on Currnmva.1 a Opn.,tiuq Leo•,',ApcWdin Cr,2005 Pagu 14f P App 86252
Inds e.- _7 cva
DEC-15-05 THU 01:23 PM DEERE LEASING FAX NO. 18002540020 P. 05
you shall have the right to return the Equipment in accordance with Section 9 of this Master Agreement and terminate the
Lease on the last day of the fiscal period for which appropriations were received without penalty or expense to you,except as
to the portion of the Lease Payments for which funds shall have been appropriated and budgeted. At least thirty (30)days
prior to Lilo end of your fiscal period,your chief executive officer(or legal counsel)shall certify in writing that(a)funds have not
been appropriated for the fiscal period,(b)such non-appropriation did not result from any act or failure to act by you, and(c)
you have exhausted all funds legally available to pay Lease Payments. If you terminate the Lease because of a non-
appropriation of funds,you may not,to the extent permitted by applicable law,purchase,lease,or rent,during the subsequent
fiscal period, equipment performing the samo functions as, or functions taking the place of, those performed by the
Equipment. This Section 15 shall not permit you to terminate the Lease in order to acquire any other equipment artlo allocate
funds directly or indirectly to perform essentially the application for which the Equipment is intended. VI
If you terminate the Lease because of a non-appropriation of funds,the provisions of Section 8 shall not apply. b
1
5. Excupt as expressly amended by this Addendum,the terms and conditions of the Master Agreement shall}bmain in full force
and effect, This Addendum constitutes the complete understanding of the parties hereto and supersedes all prior understandings of the
parties 'elating to the matters discussed herein. This Addendum may only be amended or modified by the terms of AVlvritten Instrument
signed by all parties hereto. II
I
IN WITNESS WHEREOF,the parties have caused this Addendum to be executed by their duly authorized representativellas of the date
first wl ilten above, i 1
WELD COUNTY DEERE CREDIT,INC. '•
L$$•EE GKEtt EY,C0110632-0736 LESSO- 6400 N.W.I3e STREET,PO BOX 6600'
a. /_ � ,�r /y JOHNSTOOVIIA 5011316600
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RILL Jl rWI,f:QoN F cOMM13:t10N
_,.. A.M 242005 Q
Date; pp.lUU `.. ._.... 846000813 -� 'Re: 6 tio.c�.,. ,G Q 1�" Date: ` I�'4 03
Fed.Tax ID/Soc.Sec.U 1
pr.rErirEP
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Donna Bechler
From: Barb Eurich
Sent: Friday, December 16, 2005 7:53 AM
To: Donna Bechler
Subject: John Deer Contract
Donna,
This is in response to the contract the county signed with John Deere. John Deere would not sign the contract
until the county commissioners signed off. I worked through Colorado Machinery on this contract. So when I
gave the contract to the representive I indicated that I needed a signed original back. All I have received back,
and only after some prodding is the copy of the contract I forwarded to you.
Hope this is what you need.
Barbara Eurich
Controller
Weld County
beurichco.weld.co.us
(970) 356-4000 ext 4445
12/16/2005
Hello