HomeMy WebLinkAboutCommunity First National Bank - Lease Schedule Dated 4/13/2016 - Fire Department EquipmentExnrnrrA
Lease Schedule
DarB or MasrBn EqunvmNr L¡IsB-PURCHASE AcR¡svBNr: ApRrr 1,2015
MesrnR EqunvnNr Lsasn-PuncHASE
AcRgBvtBtttNo.:
LB¡sn ScneoulpNo.:
DarB op LBasB Scunour¡:
Normrcarrou DerB:
LnssBB: Cny or Fn¡sNo
FRECA2O15-O4E
05
ApRn 13,2016
ApRn 13,2016
1. DnscRrprroN oF rrm Eqununwr:
Two (2) 2016 Tovorn CAMRYS roc¡rHBR with all accessories, attachments, substitutions,
and accessions. Described more particularly below
2. EqununNr LocRrroN: V¡Rlous rHRoucnour rHE cITy on FRnsuo, CA
As provided in Paragraph 31 of the Master Equipment Lease-Purchase Agreement, Lessee authorizes Lessor to
insert serial numbers and additional description details of Equipment when determined by Lessor.
SupprrcR D¡scRrpuoN or UNrrs or'
Equreunur
VIN/Ssnmr NuN¡epnsl
(rn avau-anrn)
Tovota of Selma I-2016 Tovota Camrv 4T1BF1FK6GU22O635
Toyota of Selma l-2016 Tovota Camrv 4T1BFIFK6GU223O79
PAYMENT PAYMENT
DATE AMOTINT
DUE
INTEREST PRINCIPAL
PORTION PORTION
PREPAYMENT
OPTION AMOUNT
3. The Rental Payments shall be made for the Equipment as follows:
r0l13l20t6
4/13/2017
t0l13l20t7
4/1312018
l0l13l20l8
4t13l20t9
r0lt3l20t9
4/1312020
t0/t312020
4/13/202r
Totals
Not Available
$37,058.65
s32,566.33
$28,034.70
s23,463.42
$18,852.14
sr4,200.52
$9,508.19
s4,774.81
s0.00
$4,768.89 $397.88 $4,371.01
$4,768.89 $359.63 54,409.26
$4,768.89 5321.05 54,447.84
s4,768.89 5282.13 54,486.76
$4,768.89 5242.87 94,526.02
s4,768.89 ß203.27 94,565.62
$4,768.89 $163.32 54,605.57
$4,768.89 5123.02 54,645.87
$4,768.89 $82.37 54,686.52
s4,768.89 $41.36 54,727.53
s47,688.90 52,216.90 $45,472.00
4. Lessee's current Fiscal Period extends from July 1,2015 to June 30,2016.
5. The terms and provisions of the Master Equipment Lease-Purchase Agreement described
above (other than to the extent that they relate solely to other Schedules or to Equipment listed on other
Schedules) are hereby incorporated into this Schedule by reference and made a part hereof.
6. Lessee hereby represents, warrants and covenants that its representations, warranties and
covenants set forth in such Master Equipment Lease-Purchase Agreement (particularly Paragraph 23
thereof) are true and correct as though made on the date of execution of this Schedule
Lessor:
COMMUNITY FIRST NATIONAL BANK
Title: Citv Controller/Finance Director Title: Vice President
This is Counterpart No. I of I manually executed
extent this Lease constitutes chattel paper (as defined in
interest herein may be created through the transfer or
Counterpart No. 1.
and serially numbered counterparts. To the
the Uniform Commercial Code), no security
possession of any Counterpart other than
Lessee:
City of Fresno, a Californi
ame: Michael l-ima Printed Name:
Fire Master Lease Agreement 2015 -Exhibit A Page 2
Exnrnrr A-1
Acceptance Certificate
Lnsssn: CnYorFRBsNo
MasrnnEqurpMENT Lmsn-Puncrasn AcRsBr¡nNrNo. ............,....FREC42015-04E
Le¡sB Scnenut,nNo. .............. .......05
Tus UrrmnnsrcNED AcrNowrnDcES AND Rprn¡s¡Nrs THRI:
The Equipment identified in the above-referenced Lease Schedule is delivered, installed,
available for use and is placed in service as of the Acceptance Date indicated below.
Such Equipment is in good operating condition and repair and is accepted as satisfactory in all
respects for the purpose of the applicable Lease.
AccnpreucEDATE:
AurHonrzro SrcNnrutn:
X
X
X Michael Lima
Control ler/Fi nance Director
Exnrnrr A-2
(To Lease Schedule No. (05)
[Attach I.R.S. Form 8038-G or 8038-GC, as Appropriate]
SEE NBXT P¡Cn
-,' 8038'GG
(Bev January2012)
Department of the Treasury
lnternal Revenue Serv¡ce
City of Fresno
and street (or P.O. box if mail is not delivered to street address)
2600 Fresno Street, Suite 2156
City, town, or post office, state, and ZIP code
Fresno, C493721
Name and title of officer or other employee of issuer or designated contact person whom the IRS may
Phillip Hardcastle, Principal Accountant - Debt Administration
OMB No. 1545-0720
2 lssuer's employer identification number (ElN)
94 i 6000338
Room/suite
5 Beport number lFor /FS Use Only)
7 Telephone number of officer or legal representalive
(559)621-7029
Information Return for Small Tax-Exempt
Governmental Bond lssues, Leases, and Installment Sales
Þ Under lnternal Revenue Code section 149(el
Gaution: lf the issue price of the lssue is $100,000 or more, use Form 8038-G.
name
8a
b
9
a
b
c
d
e
f
I
h
i
j
k
lssue price of obligation(s) (see instructions)
lssue date (single issue) or calendar date (consolidated). Enter date in mm/dd/yyyy format (for
example, 01/01/2OOg) (see instructions) > 04/13/2016
Amount of the repoded obligation(s) on line 8a that is:
For leases for vehicles
For leases for office equipment .
For leases for real property
For leases for other (see instructions) .
For bank loans for vehicles
For bank loans for office equipment
For bank loans for real property.
For bank loans for other (see instructions)
Used to refund prior issue(s)
Representing a loan from the proceeds of another tax-exempt obligation (for example, bond bank)
Other
10 lf the issuerhas designated any issue undersection 265(bX3XBXiXlll) (small issuerexception), checkthis box
1 1 lf the issuer has elected to pay a penalty in lieu of arbitrage rebate, check this box (see instructions) .
12 VendOf,S Of bank'S name: Commun¡ty F¡rst National Bank
>tr>n
r: i 48-1238548
ris return and accompanying schedules and slatements, and to the best of my knowledge and belief, they are
to the IRS'S disclosu¡e of'the issuer's return information, as necessary to process this return, to the person(s)
) tUichael Lima, City Controller
of issuer's Date Type or print name and title
Paid
Preparer
Use Only
PrinVType preparer's name Preparer's signature Date check n if
self-employed
PTN
F¡rm's name Firm's EIN >
F¡rm's address >Phone no.
General lnstructions
Sectlon references are to the lnternal Revenue
Code unless otherw¡se noted.
What's New
The IRS has created a page on lRS.gov for
information about the Form 8038 series and
its instructions, at www. i rs. gov /form8038.
lnformation about any future developments
affect¡ng the Form 8038 series (such as
legislation enacted after we release it) will be
posted on that page.
Purpose of Form
Form 8038-GC is used by the issuers of tax-
exempt governmental obligations to provide
the IRS with the information required by
section 149(e) and to monitor the
requirements of sections 141 through 150.
Who Must File
lssuers of tax-exempt governmental
obligations with issue prices of less than
$100,000 must file Form 8038-GC.
lssuers of a tax-exempt governmental
obligation with an issue price of $100,000 or
more must file Form 8038-G, lnformation
Return for Tax-Exempt Governmental
Obligations.
Filing a separate return for a single issue.
lssuers have the opt¡on to file a separate
Form 8038-GC for any tax-exempt
governmental obligation with an issue price
of less than $1 00,000.
An issuer of a tax-exempt bond used to
finance construction expenditures must file a
separate Form 8038-GC for each issue to g¡ve
notice to the IRS that an election was made to
pay a penalty in lieu of arbitrage rebate (see
the line 11 instructions).
Filing a consolidated retum for multiple
issues. For all tax-exempt governmental
obligations with issue prices of less than
$1 00,000 that are not repoded on a separate
Form 8038-GC, an issuer must file a
consolidated information return including all
such issues issued within the calendar year.
Thus, an issuer may file a separate Form
8038-GC for each of a number of small issues
and report the remainder of small issues
issued during the calendar year on one
consolidated Form 8038-GC. However, if the
issue is a construction issue, a separate Form
8038-GC must be filed to give the IRS notice
of the election to pay a penalty in lieu of
arbitrage rebate.
Cat. No.641088 rorm 8038-GC (Rev 1-2012)
Exnrnrr A-3
(To Lrlsn Scnnrur,n No. 05)
AUTTToRTzTNG RESoLUTIoNS CURRENTLY oN FILE
Resolution No. 2015-49
&.
Resolution No. 2015-95
&
Resolution No. 20 I 5-228
RESOLUTION NO. 201549
A RESOLUTION OF THE COUNCIL OF THE CITY OF
FRESNO, CALIFORNIA, AUTHORIZING THE EXECUTION
AND DELIVERY OF AN EQUIPMENT LEASE.PURCHASE
AGREEMENT WITH COMMUNITY FIRST NATIONAL
BANK, AS LESSOR, FOR THE ACQUISITION,
PURCHASE, FI¡I.ANCING AND LEASING OF CERTAIN
EQUIPMENT FOR THE FRESNO FIRE DEPARTMENT;
AUTHORIZING THE EXECUTION AND DELIVERY OF
DOCUMENTS REQUIRED IN CONNECTION THEREWTH;
AND AUTHORIZING ALL OTHER ACTIONS NECESSARY
TO THE CONSUMMATION OF THE TRANSACTIONS
CONTEMPI-ATED BY THIS RESOLUTION
WHEREAS, City of Fresno, a Gharter City and municipal corporation (th€'City'),
is authorized by íts Charter and the laws of the State of California to purchase, ac,quire,
and lease personal proper$ for the benefit of the City and its lnhab¡t¡¡nts and to enter
into contracts with respect thereto; and
WHEREAS, the City has determined that a true and very real need exists for the
acquisition, purchase and financing of certain property consisting of setf-contained
breathing apparatus, (collectively, the'Equipment") on the terms herein provided; and
WHEREAS, in order to acquire such Equipment, the City proposes to enter into
that certain Equipment LeasePurchase Agreement (the "Lease) with Community First
National Bank, as lessor, substantially in the proposed brm presented at thls meeting,
and schedules thereto substanfally in the form attached to the Lease; and
WHEREAS, the City deems it for the bencflt of the City and üre efficient and
effective administration thereof to enter into the Lease and attendant schedules relatlng
thereto from tlme to time as províded in the Lease for ûre purchase, acquisilion,
DatoAdoptedi, gt2$t2o1s
DatoApprovedi gt26tZO1S
Efleclive Dato; 3t26t2O1S
1ú4
Rasolution No. 2015-49
financing, and leasing of the Equipment to be therein more specífrcally described on the
terms and conditions provided therein and herein.
NOW, THEREFORE, BE lT RESOLVED by üre Gity Councilof the City of Fresno
as follorrs:
1. Findinq. Council finds and determines that the terms of the Lease
(including the form of Lease Schedule and Payment Schedule att¡ached thereto), are ln
tho best interests of the City for the acquisition, purchase, financing and leasing of the
Equipment.
2. Aoproval of Documents. Gouncil approves the Lease and attendant
schedules substantially in the forms presenting at this meeting, with such insertions,
omissions and changes as shall be approved by the City Manager, City Controller, or
Assistant city controller, and approved as to form by the cíty Attomey's office.
3. Authority to Execute Documents. Council authorizes and directs ttre C¡ty
Maneger, Gi$ Controller, or Assistant City Controller to exccuÞ the Lease, and
attendant schedules, and any related exhibits attached thereto and to deliver the Lease
and schedules (including exhibits) to the respective parües thereto, provided, horev€r,
that" without further authorization ftom the gweming body of the Lessêe, (a) the
aggregatÖ principal component of Rent Payments under thc Lease shall not exceed
S7,150,000; (b) the maximum term under any Lease entcred into pursuant to the Lease
shall not exceed s€ven (7) years; and (c) tÌp maximum interest rate used to detemine
the interest comporcnt of Rent Paymonts under thb Lcasc strall not exceed the lessor
of the maximum rate permitted by law or ten percent (10o/ol per annum. The foregoing
authorization shall remaln in eficc{ for the tom of thc Lease.
2o¡ 4
4. Other Actions Authorized. Council authorizes the above named Cþ
officers and employees to take all action reasonably required to effccävely carry out the
transactions contemplated in üe Lease and schedules, including, but not limited to, the
execution and delivery of the certiflcates conternplated herein and to take all action
necessary in conformity therewith, including, wlthout limitation, the execution and
delivery of any closing and other documents required to bc delivered in connection with
the Lease.
5. Aulhorizinq City Reoresentat¡ves. Council dcsignates and authorizes the
City Manager, Clty Controller, or Assistant C¡ty Controller, each acting aloræ, to
represent the Ci$ in carrying out the Lease until such time as the Council shall
designate any other or different authorized representative for such purposes.
6. Severability. lf any section, paragraph, clause, or provision of this
Resolution shall for any reason be heH invalid or unenforceable, the invalidity or
unenforceability shall not affec.t any other sêction, paragraph, clause, or provision of thls
Resolution.
7. Effective Date. This Resoluüon shall be effec{ive irmodiably upon its
approvaland adoptlon.
Ittrrtlttttftt
3 of4
STATE OF CALTFORNIA )
COUNTY OF FRESNO ) ss.
crTY oF FRESNO )
l, WONNE SPENCE, Cþ Clcrk of the Clty of Fresno, cedry that thc foregoing
resolution r,rns adopted by the Council of the City of Fresno, at a regular mectlng held
on the 26h day ol March ,2O1ã.
AYES
NOES
ABSENT
ABSTAIN
APPROVED AS TO FORM:
DOUGI.AS T. SLOAN
City Attomey
Brand, Brandau, Caprioglio, Olivier, Quintero, Soria, Baines
None
None
None
WONNE SPENCE, CMC
City Cleft
By
Deputy
4ot4
RESOTUTTON NO. 2015-es
A RESOLUTION OF T}IE COUNCIL OF THE CITY OF
FRESNO, CATIFORNIÀ MODIFYING RESOLUTION NO.
2015-49 RELATING TO THE MASTER EQUIPMENT
LEASIE AGREEMENT WTH COMMUNITY FIRST
I{ATIOÌ.TAL BANK
WHEREAS, th€ Crty adopted Resoh¡üi¡n No. 2015-49 CR€soh¡üon') authodzing
the execution of the Master Equipment LeæePurchase Agrccment, daþd April 1, 2015
(the "Lease); an¿
WHEREAS, in o¡ds to acqulre, purcfiase, and ffnancs fre eq.¡ipment, tlrc Cþ
ontercd into üte Lcase, wfh Community Firct NationalBanlç as lessor; and
V\,I.IEREAS, the Resolution conhlned clerical enors and Gommunity Fint
National Bank requesb e modiñcation to the Resolution to l¡St all equlpnrent acquired,
purcfiased and financed under the Leas€.
NOW THEREFORE, BE lT RESOLVED by the CiV Coundlol the City of Frcsno
as fþllou/s:
1. Councilfinds and dctemlnec th¡ Re¡oh¡tion ahall bc modilTed to ind¡¡de:
(a) The Leasc shall bs uscd ûo acquþ purchase, and finance ccrtain
prop€rty consbting ofr 1) Onc New Acrial Trud; 2) One Plalorm Truch 3) E¡glrt
Firc Englncc; 4) One Wetor Tendcr; 5) Elght Lþht vehfr*es; 6) Ten Thsrml
lrnagírE Camcr4 7) Eteven Mobile Data Termimh; 8) Hac¡; 9) Radloe; and
10) other equlpmen[ on thc Hrns prcvÍlcd ln the Rcqolution; and
(b) The maximum tcrm undor any Lcase cntcrod lnb purcuant to the
Leasa shall not exceed ten (f 0) yean.
DsteAdoptcd: 6111tî2015
DetcApproved,i 6n1nm5
Eñcdive Detc: See Section 3
1ol2
Recoluton No.2015-95
2. lf any sêdion, paragraph, clause, or provislon of thb
Regohfion shall fur any rÞason bc held invalid or unenforceablo, tre lnvalilþ or
unenforceabiliþ shal not afiect any otlrer seslion, paragraph, ds߀, or prorlsion of ütis
Resolution.
3. Eftctive Date. Th¡s Resolution shall be efiedive imrnediably upon its
approval and adopüon.
STATEOFCALTFORNTA )
' I ' ' '. t " ' t t !Ò '
COUNTYOFFRESNO ) ss.
crry oF FRESNO )
l, WONNE SPENCE, City Cferfi of thE City of Fresno, ceffi that the turegoing
psolution was adopted by the Coundl of lhe Clty of Frugno, at a regular meetiqg held
on he dayof June ,2015,
AYES
NOES
ABSENT
ABgTAN
APPROVED AS TO FORM:
DOUGI-AS T. SLOAN
Clty Attorney
Brand, Brandau, Caprioglio, Olivier, Quintero, Soria, Baines
None
None
None
WONNE SPENCE, CMC
Glty Clerk
ñdon M. Collet
2øî2
RESOLUTTON NO. 2015-228
A RESOLUTION OF THE COUNCIL OF THE CITY OF
FRESNO, CALIFORNIA, AUTHORIZING THE FIRST
AMENDMENT TO THE EQUIPMENT LEASE-PURCHASE
AGREEMENT WITH COMMUNITY FIRST NATIONAL
BANK, AS LESSOR, FOR THE ACQUISITION,
PURCHASE, FINANCING AND LEASING OF CERTA]N
EQUIPMENT FOR THE FRESNO FIRE DEPARTMENT
FOR FISCAL YEARS 2016 AND 2017: AUTHORIZ|NG THE
EXECUTION AND DELIVERY OF DOCUMENTS
REQUIRED IN CONNECTION THEREWITH; AND
AUTHORIZING ALL OTHER ACTIONS NECESSARY TO
THE CONSUMMATION OF THE TRANSACTIONS
CONTEMPI.ATED BY THIS RESOLUTION
WHEREAS, Ci$ of Fresno, a Charter City and municipal corporation (the "City"),
is authorized by its Charter and the laws of the State of Califomia to purchase, acquire,
and lease personal property for the benefit of the City and its inhabitants and to enter
into contracts with respect thereto; and
WHEREAS, the City has determined that a true and very real need exists for the
acquisition, purchase and financing of certain property consisting of two ladder trucks,
three engines, staff and police vehicles, and 320 rad¡os for field personnel (collectively,
the "Equipmenf), on the terms herein provided; and
WHEREAS, the City entered into a Master Equipment Lease-Purchase
Agreement on April '1, 2015 (the 'Lease'), to acquire, purchase, and finance certain
property; and
WHEREAS, in order to acquire suci Equipment, the City proposes to enter into a
firct amendment to the Equipment Lease-Purchase Agreement (the "Amendment') with
Community First National Bank, as lessor, substantially in the proposed form presented
Date Adopted: 12t10t2o1s
Date Approved :'l2n Ûn01 5
Eflectlve Oatei 1U10noß
1of4
Resolution No. 201 5-228
WHEREAS, the City deems it for the benefit of the City and the efficient and
effective administration thereof to enter into the Amendment and attendant schedules
relating thereto for the purchase, acquisition, financing, and leasing of the Equipment to
be therein more specifically described on the terms and conditions provided therein and
herein.
NOW, THEREFORE, BE lT RESOLVED by the Clty Council of the City of Fresno
as follows:
'1. Findino. Council finds and determines that the terms of the Amendment
(including the form of Lease Schedule and Payment Schedule attached thereto), is in
the best interests of the City for the acquisit¡oh, purchase, financing, and leasing of the
Equipment.
2. Aooroval of Documents. Council approves the Amendment and attendant
schedules substantially in the forms presenting at this meeting, with such insertions,
omissions and changes as shall be approvod by the City Manager, City Controller, or
Assistant Ci$ Controller, and approved as to form by the Gity Attomey's Office.
3. Authoritv to Execute DocumenF. Council authorizes and directs thc City
Manager, Gity Contnoller, or Assistant City Controller to execute the Amendment, and
attendant schedules, and any related exhibits attached thereto and to deliver the Lease
and schedules (including exhibitrs) to the respective parties thereto, provided, however,
that, without further authorization from the goveming body of the Lessee, (a) the
aggregate principal component of Rent Payments under the Lease shall not exceed
2oÍ 4
$22,150,00; (b) the maximum term under any Lease entered into pursuant to the Lease
shall not exceed ten (10); and (c) the maximum interest rate used to determine the
interest component of Ront Payments under this Lease shall not exceed the lesser of
the maximum rate permitted by law or ten percent (lOYo) per annum. The foregoing
authorization shall remain in effect for the term of the Lease.
4. Other Actions Authorized. Council authorizes the above named City
officers and employees to take all action reasonably required to effectively earry out the
transactions contemplated in the Lease and schedules, including, but not limited to, the
execution and delivery of the certificates æntemplated therein and to take all actlon
necessary in conformity therewith, including, without limitation, the exeq¡tion and
delivery of any closing and other documents required to be delivered in connection with
the Lease.
5. Authorizino Citv Reoresentatives. Council designates and authorizes the
City Manager, City Controller, or Assistant G¡ty Controller, each acting alone, to
represent the Gity in carrying out the Lease until such time as the Council shall
designate any other or different authorized repræentiative for such purposes.
6. Severabilltv. lf any section, paragraph, clause, or provision of this
Resolution shall for any reason be held invalid or unonforceable, tho invalidity or
unonforceability shall not affoct any other secton, paragraph, clause, or provision of this
Resolution.
7. Effective Date. This Resolution shall be effective immediately upon its
approval and adoptlon.
aatatttatttttr
3oÍ4
STATE OF CALTFORNTA )
COUNTYOFFRESNO ) ss.
crTY oF FRESNO )
I, WONNE SPENCE, City Clerk of the City of Fresno, certify that tho foregoing
resolution was adoptcd by the Council of the City of Fresno, at a regular meeting held
on the lorh day of December ,2015.
AYES I Brand, Brandau, Caprioglio, Olivier, Quintero, Soria, BainesNOES : None
ABSENT : None
ABSTAIN : None
WONNE SPENCE, CMC
City Clerk
APPROVED AS TO FORM:
DOUGLAS T. SLOAN
City Attorney
By:
Deputy
4ol4
Exursrr A-4
(To Lrasn Scnnnur,n No.05)
INcuprnrlrcv CnRrrnrcATE oF Lrssrn
The undersigned, the duly authorized representative of the named Lessee under that certain
Master Equipment Lease-Purchase Agreement dated April l, 2015 (the "Agreement"), with
Community First National Bank, as Lessor, hereby certifies as follows in accordance with the
requirements of the Agreement, which is incorporated by reference into the above-referenced Lease
Schedule. Capitalized terms used herein have the same meaning as in the Agreement.
I hold the position noted under my signature, and I have all authority necessary to execute and
deliver this Certificate. The following officers of the Lessee are duly elected or appointed, and the
signatures above the respective name and title are true and correct and, where required, have been filed
with the appropriate officials of the State.
Printed Name: Bruce Rudd
Title: City Manager
Iu WruNnss WHEREoF, I have executed and delivered this certificate as of this
Aoril ,20 16 .
Lessee: Ctrv op FR¡s¡¡o
2qfA day of
Printdd Name: Michael Li
Title: City Controller/Finance Director
Title: Assistant Controller
Title: City Ctert<
Exnrnrr A-5
fAttach Opinion of Lessee's Counsel]
As per sample provided, please reference date of Master Agreement (April 1,2015),
Schedule 05, dated April 15, 2016 on Opinion Letter
Citv ofEEDECIlI>*.,¿fflE-=t-?--z¿¡ù=
Douglas T. Sloan
City Attorney
OPINION OF COUNSEL
May 3, 2016
Re: Fire Equipment Lease Purchase Agreement dated as of April 1 , 2015, between
Community First National Bank and City of Fresno
Ladies and Gentlemen:
As legal counsel to the City of Fresno ("Lessee"), I have exam¡ned the foregoing Lease
and such other opinions, documents, and matters of law as I have deemed necessary in
connection with this Lease. Based on the foregoing, I am of the following opinions:
Lessee is a political subdivision of the State of California, or a constituted authority to
issue obligations on behalf of a political subdivision of the State.
1. Lessee has the requisite power and authority to purchase the Equipment and to
execute and deliver the Lease and to perform its obligations under the Lease. The
Lease and the other documents either attached hereto or required herein have
been duly authorized, approved, and executed by and on behalf of Lessee, and
the Lease is a legal, valid, and binding obligation of Lessee enforceable in
accordance with its terms.
2. The authorization, approval, and execution of the Lease and all other proceedings
of Lessee relating to the transactions contemplated thereby have been performed
in accordance with all open meeting laws, public bidding laws and all other
applicable state and federal laws.
3. There is no litigation, action, suit, or proceeding pending or before any court,
administrative agency, arbitrator, or governmental body that challenges the
authority of the Lessee or any of the Lessee's officers or employees to enter into
the Leases.
4. The above opinion is for the sole benefit of the Lessee listed above and can only
be relied upon by the Lessor, or any permitted assignee, or subassignee, or
of Lessor under the Lease.
Deputy City Attorney
BMC: prn [71 3OOprn/bmc]
City Hall . Fresno, California 93721 . (559) 621-7500 . FAX(559)488-1084
Exnrnrr A-6
(To Lease Schedule No. 05)
Norrct nxo AcxNowLEDcMENr or S¡r,n or
RnNrar, PAYMENTS ¡,NN ASSTCNMENT Or LN¡,SN
Community First National Bank ("Lessor ") and CITY o¡ FRusNo ("Lessee ") have entered into a
Master Equipment Lease-Purchase Agreement No. FRECA20I5-04E dated April 1, 2015 (the
o'Agreement"), and Lease Schedule No. 05 dated April 13,2016 (together with the terms and conditions
of the Agreement incorporated therein by reference, collectively the "Lease "), under which Lessee has,
or will have prior to its execution hereof, leased equipment (the "Equipment") described in such Lease
Schedule.
Lessee is hereby notified that Lessor has assigned to the assignee named below ("Assignee") all
of Lessor's right, title and interest in and to the Lease, the leased Equipment and the Rental Payments,
all as permitted by the Lease.
Lessee is hereby directed to pay any and all Rental Payments and other amounts due with respect
to which Lessor's Assignee renders an invoice, at the address set out immediately below or as otherwise
directed in said invoice:
"Assignee"Wells Fargo Equipment Finance, Inc.
733 Marquette Avenue, Suite 700
Minneapolis, MN 55402
By signing this Notice and Acknowledgment, Lessee agrees that it will pay all amounts due
under the Lease as directed in the invoice without any set-off or deduction whatsoever notwithstanding
any defect in, damage to or requisition of any of the Equipment leased under the Lease, any other similar
or dissimilar event, or any defense, set-off, counterclaim or recoupment arising out of any claim of
Lessee against Lessor or Assignee.
Lessee further acknowledges and agrees that Assignee has not assumed any of Lessor's
obligations or duties under the Agreement or the Lease or made any warranties whatsoever as to the
Agreement, the Lease or the Equipment. Lessee agrees that no change may be made to the Lease
without the prior written consent of Assignee.
By signing this Notice and Acknowledgment, Lessee warrants that its representations and
warranties under the Lease are true and correct on the date hereof.
Date:0411812016
ame: Michael Lima
Title: Citv Controller/Finance Director