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Home My WebLink AboutA9240 - YAMAHA MOTOR FINANCE CORPORATION CONTRACT ABSTRACT 3-Year Lease Agreement: 152 Golf Cars, 2 Contract Company Name: Company Contact: Summary of Services: Contract Price: Funding Source: Contract Term: Yamaha Motor Finance Corporation Stephanie Chipouras Lease of 152-DR2E AAC, 2-YU2A BISTRODLX, 6-YU1A, 1- DR2A WXSHLR Golf Cars and Ancillary Vehicles for Tahquitz Creek Golf Course $532,687.50 (Monthly lease payments of $14,796.87) 4307700-50050; 4307700-50055 3 Year Lease Contract Administration Lead Department: Contract Administrator: Assistant City Manager/Dept. of Maintenance and Facilities Teresa Gallavan Contract Approvals Council Approval: Resolution Number: Agreement Number: September 29, 2022 N/A A9240 Contract Compliance Exhibits: Signatures: Insurance: Bonds: Attached Attached City to Provide Insurance N/A Contract Prepared By: Yamaha Motor Finance Corporation Submitted on: 10/10/2022 By: Tabitha Richards DocuSign Envelope ID: 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UHTXLUHGXQGHUWKLV/HDVHUDWLILHVDOORIWKHWHUPVRIWKLV([KLELW$WRWKH/HDVHDQGWKH/HDVH 7HUHVD*DOODYDQ ,QWHULP&LW\0DQDJHU %\ 1DPH 7LWOH DocuSign Envelope ID: 9BE250C2-F8C4-45CB-9BFF-2B35006F4CAC Yamaha Financial Services Page 1 of 1 AMORTIZATION SCHEDULE FOR MUNICIPALITY MUNICIPAL LEASE AGREEMENT LESSEE : TAHQUITZ CREEK GOLF CLUB EQUIPMENT SCHEDULE # 214016 TAHQUITZ CREEK GOLF CLUB Initialed By ____________ Yield:3.480% Mon #Due Date Payment Interest 1 12/28/2022 11,597.60 2,132.44 2 01/28/2023 11,597.60 2,106.01 3 02/28/2023 11,597.60 2,079.49 4 03/28/2023 11,597.60 2,052.91 5 04/28/2023 11,597.60 2,026.24 6 05/28/2023 11,597.60 1,999.51 7 06/28/2023 11,597.60 1,972.70 8 07/28/2023 11,597.60 1,945.81 9 08/28/2023 11,597.60 1,918.85 10 09/28/2023 11,597.60 1,891.82 11 10/28/2023 11,597.60 1,864.70 12 11/28/2023 11,597.60 1,837.52 13 12/28/2023 11,597.60 1,810.25 14 01/28/2024 11,597.60 1,782.92 15 02/28/2024 11,597.60 1,755.50 16 03/28/2024 11,597.60 1,728.01 17 04/28/2024 11,597.60 1,700.44 18 05/28/2024 11,597.60 1,672.79 19 06/28/2024 11,597.60 1,645.07 20 07/28/2024 11,597.60 1,617.27 21 08/28/2024 11,597.60 1,589.39 22 09/28/2024 11,597.60 1,561.43 23 10/28/2024 11,597.60 1,533.40 24 11/28/2024 11,597.60 1,505.29 25 12/28/2024 11,597.60 1,477.10 26 01/28/2025 11,597.60 1,448.83 27 02/28/2025 11,597.60 1,420.48 28 03/28/2025 11,597.60 1,392.05 29 04/28/2025 11,597.60 1,363.54 30 05/28/2025 11,597.60 1,334.96 31 06/28/2025 11,597.60 1,306.29 32 07/28/2025 11,597.60 1,277.54 33 08/28/2025 11,597.60 1,248.72 34 09/28/2025 11,597.60 1,219.81 35 10/28/2025 11,597.60 1,190.82 36 11/28/2025 11,597.60 1,161.75 Totals: 417,513.60 59,571.64 Initialed By _ DocuSign Envelope ID: 9BE250C2-F8C4-45CB-9BFF-2B35006F4CAC .DWHOOD$YHQXH&\SUHVV&$ )D[ 1$0(2),1685$1&($*(17 $''5(66 3+21()$; 5( Please Reference our Quote# &XVWRPHU$FFRXQW 7KH&XVWRPHUKDVOHDVHGRUZLOOEHOHDVLQJHTXLSPHQWIURP<DPDKD 7KH&XVWRPHULVUHTXLUHGWRSURYLGH<DPDKDZLWKWKHIROORZLQJLQVXUDQFHFRYHUDJH 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YDOLGLW\HQIRUFHDELOLW\RUELQGLQJHIIHFWRIWKLV([KLELW$WRWKH/HDVH1RWZLWKVWDQGLQJDQ\RWKHUSURYLVLRQRIWKH/HDVHWKHVROHRULJLQDORIWKLV ([KLELW$WRWKHOHDVHDQGWKH/HDVHVKDOOEHWKHRQHVEHDULQJWKHPDQXDOO\H[HFXWHGVLJQDWXUHRIWKH/HVVRU7KH/HVVHHE\PDNLQJDQ\SD\PHQW UHTXLUHGXQGHUWKLV/HDVHUDWLILHVDOORIWKHWHUPVRIWKLV([KLELW$WRWKH/HDVHDQGWKH/HDVH 7HUHVD*DOODYDQ ,QWHULP&LW\0DQDJHU %\ 1DPH 7LWOH DocuSign Envelope ID: 9BE250C2-F8C4-45CB-9BFF-2B35006F4CAC Yamaha Financial Services Page 1 of 1 AMORTIZATION SCHEDULE FOR MUNICIPALITY MUNICIPAL LEASE AGREEMENT LESSEE : TAHQUITZ CREEK GOLF CLUB EQUIPMENT SCHEDULE # 214017 TAHQUITZ CREEK GOLF CLUB Initialed By ____________ Yield:3.480% Mon #Due Date Payment Interest 1 12/28/2022 748.20 99.91 2 01/28/2023 748.20 98.11 3 02/28/2023 748.20 96.30 4 03/28/2023 748.20 94.49 5 04/28/2023 748.20 92.68 6 05/28/2023 748.20 90.86 7 06/28/2023 748.20 89.03 8 07/28/2023 748.20 87.20 9 08/28/2023 748.20 85.37 10 09/28/2023 748.20 83.53 11 10/28/2023 748.20 81.68 12 11/28/2023 748.20 79.83 13 12/28/2023 748.20 77.97 14 01/28/2024 748.20 76.11 15 02/28/2024 748.20 74.25 16 03/28/2024 748.20 72.37 17 04/28/2024 748.20 70.50 18 05/28/2024 748.20 68.62 19 06/28/2024 748.20 66.73 20 07/28/2024 748.20 64.84 21 08/28/2024 748.20 62.94 22 09/28/2024 748.20 61.03 23 10/28/2024 748.20 59.13 24 11/28/2024 748.20 57.21 25 12/28/2024 748.20 55.29 26 01/28/2025 748.20 53.37 27 02/28/2025 748.20 51.44 28 03/28/2025 748.20 49.51 29 04/28/2025 748.20 47.57 30 05/28/2025 748.20 45.62 31 06/28/2025 748.20 43.67 32 07/28/2025 748.20 41.71 33 08/28/2025 748.20 39.75 34 09/28/2025 748.20 37.78 35 10/28/2025 748.20 35.81 36 11/28/2025 748.20 33.83 Totals: 26,935.20 2,426.03 Initialed By _ DocuSign Envelope ID: 9BE250C2-F8C4-45CB-9BFF-2B35006F4CAC .DWHOOD$YHQXH&\SUHVV&$ )D[ 1$0(2),1685$1&($*(17 $''5(66 3+21()$; 5( Please Reference our Quote# &XVWRPHU$FFRXQW 7KH&XVWRPHUKDVOHDVHGRUZLOOEHOHDVLQJHTXLSPHQWIURP<DPDKD 7KH&XVWRPHULVUHTXLUHGWRSURYLGH<DPDKDZLWKWKHIROORZLQJLQVXUDQFHFRYHUDJH 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17 04/28/2024 949.50 90.23 18 05/28/2024 949.50 87.84 19 06/28/2024 949.50 85.45 20 07/28/2024 949.50 83.05 21 08/28/2024 949.50 80.64 22 09/28/2024 949.50 78.23 23 10/28/2024 949.50 75.81 24 11/28/2024 949.50 73.38 25 12/28/2024 949.50 70.95 26 01/28/2025 949.50 68.51 27 02/28/2025 949.50 66.06 28 03/28/2025 949.50 63.61 29 04/28/2025 949.50 61.15 30 05/28/2025 949.50 58.68 31 06/28/2025 949.50 56.20 32 07/28/2025 949.50 53.72 33 08/28/2025 949.50 51.23 34 09/28/2025 949.50 48.74 35 10/28/2025 949.50 46.24 36 11/28/2025 949.50 43.73 Totals: 34,182.00 3,106.27 Initialed By ____________ DocuSign Envelope ID: 9BE250C2-F8C4-45CB-9BFF-2B35006F4CAC .DWHOOD$YHQXH&\SUHVV&$ )D[ 1$0(2),1685$1&($*(17 $''5(66 3+21()$; 5( Please Reference our Quote# &XVWRPHU$FFRXQW 7KH&XVWRPHUKDVOHDVHGRUZLOOEHOHDVLQJHTXLSPHQWIURP<DPDKD 7KH&XVWRPHULVUHTXLUHGWRSURYLGH<DPDKDZLWKWKHIROORZLQJLQVXUDQFHFRYHUDJH (DFKSROLF\VKDOOSURYLGHWKDWL<DPDKDZLOOEHJLYHQQRWOHVVWKDQWKLUW\GD\VSULRUZULWWHQQRWLFHRIFDQFHOODWLRQ 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ocuSign Envelope ID: 9BE250C2-F8C4-45CB-9BFF-2B35006F4CAC Yamaha Financial Services Page 1 of 1 AMORTIZATION SCHEDULE FOR MUNICIPALITY MUNICIPAL LEASE AGREEMENT LESSEE : TAHQUITZ CREEK GOLF CLUB EQUIPMENT SCHEDULE # 214019 TAHQUITZ CREEK GOLF CLUB Initialed By ____________ Yield:3.480% Mon #Due Date Payment Interest 1 12/28/2022 248.75 30.97 2 01/28/2023 248.75 30.37 3 02/28/2023 248.75 29.77 4 03/28/2023 248.75 29.16 5 04/28/2023 248.75 28.55 6 05/28/2023 248.75 27.94 7 06/28/2023 248.75 27.33 8 07/28/2023 248.75 26.71 9 08/28/2023 248.75 26.10 10 09/28/2023 248.75 25.48 11 10/28/2023 248.75 24.86 12 11/28/2023 248.75 24.24 13 12/28/2023 248.75 23.62 14 01/28/2024 248.75 22.99 15 02/28/2024 248.75 22.37 16 03/28/2024 248.75 21.74 17 04/28/2024 248.75 21.11 18 05/28/2024 248.75 20.48 19 06/28/2024 248.75 19.85 20 07/28/2024 248.75 19.21 21 08/28/2024 248.75 18.58 22 09/28/2024 248.75 17.94 23 10/28/2024 248.75 17.30 24 11/28/2024 248.75 16.66 25 12/28/2024 248.75 16.02 26 01/28/2025 248.75 15.37 27 02/28/2025 248.75 14.72 28 03/28/2025 248.75 14.07 29 04/28/2025 248.75 13.42 30 05/28/2025 248.75 12.77 31 06/28/2025 248.75 12.12 32 07/28/2025 248.75 11.46 33 08/28/2025 248.75 10.80 34 09/28/2025 248.75 10.14 35 10/28/2025 248.75 9.48 36 11/28/2025 248.75 8.82 Totals: 8,955.00 722.55 Initialed By ____________ DocuSign Envelope ID: 9BE250C2-F8C4-45CB-9BFF-2B35006F4CAC .DWHOOD$YHQXH&\SUHVV&$ )D[ 1$0(2),1685$1&($*(17 $''5(66 3+21()$; 5( Please Reference our Quote# &XVWRPHU$FFRXQW 7KH&XVWRPHUKDVOHDVHGRUZLOOEHOHDVLQJHTXLSPHQWIURP<DPDKD 7KH&XVWRPHULVUHTXLUHGWRSURYLGH<DPDKDZLWKWKHIROORZLQJLQVXUDQFHFRYHUDJH (DFKSROLF\VKDOOSURYLGHWKDWL<DPDKDZLOOEHJLYHQQRWOHVVWKDQWKLUW\GD\VSULRUZULWWHQQRWLFHRIFDQFHOODWLRQ 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DPRXQWQRWOHVVWKDQWKHIXOOUHSODFHPHQWFRVWRIWKHSURSHUW\ZLWK<DPDKD0RWRU)LQDQFH&RUS86$LWV VXFFHVVRUVDQGDVVLJQVQDPHGDV /2663$<(( $OO5LVN3URSHUW\,QVXUDQFHFRYHULQJWKHSURSHUW\RZQHGE\RULQZKLFK<DPDKDKDVDVHFXULW\LQWHUHVWLQDQ FRPELQHGVLQJOHOLPLW (0$,/ 7HUHVD*DOODYDQ,QWHULP&LW\0DQDJHU (0$,/ 3+21()$; $''5(66 1$0(2),1685$1&($*(17 7LWOH %\ Kennan & Associates 2355 Crenshaw Blvd., Suite 200 Torrance, CA 90501 Attn: Monica Mojarro 310-212-0363 x2607 mmojarro@keenan.com DocuSign Envelope ID: 9BE250C2-F8C4-45CB-9BFF-2B35006F4CAC City Council Minutes September 29, 2022 City of Palm Springs Page 9 ALL ACTIONS ARE DRAFT PENDING APPROVAL OF THE FINAL MINUTES MOTION BY MAYOR PRO TEM GARNER, SECOND BY COUNCILMEMBER KORS, CARRIED 4-0, to: 1. Approve a three-year agreement with Simplify Compliance LLC to provide employee health and safety management compliance software for an amount not to exceed $20,131 per year, subject to amendments and allowable inflation adjustments. 2. Authorize the City Manager to execute all documents. U. APPROVAL OF FOUR (4) THREE-YEAR LEASE AGREEMENTS WITH YAMAHA MOTOR FINANCE CORPORATION, U.S.A., FOR ONE HUNDRED FIFTY-TWO (152) AC ELECTRIC GOLF CARS, TWO (2) YU2A BISTRODLX BEVERAGE CARS, ONE (1) YU1A SUPERHAULER, AND SIX (6) DR2AWXSHLR UTILITY UNITS TO SERVE THE PALM SPRINGS TAHQUITZ CREEK “LEGENDS” AND “RESORT” GOLF COURSES MOTION BY MAYOR PRO TEM GARNER, SECOND BY COUNCILMEMBER KORS, CARRIED 4-0, to: 1. Approve a three-year lease of 152 DR2E AAC Yamaha golf cars for the Tahquitz Creek Golf Courses through Yamaha Motor Finance Corporation, U.S.A., through Equipment Lease Schedule No. 214016, for a monthly cost of $12,670.38, and a total lease payment of $456,133.61. 2. Approve a three-year lease of two (2) YU2A BISTRODLX Yamaha beverage cars for the Tahquitz Creek Golf Courses through Yamaha Motor Finance Corporation, U.S.A., through Equipment Lease Schedule No. 214017, for a monthly cost of $817.41, and a total lease payment of $29,426.71. 3. Approve a three-year lease of six (6) YU1A Yamaha utility units for the Tahquitz Creek Golf Courses through Yamaha Motor Finance Corporation, U.S.A., through Equipment Lease Schedule No. 214018, for a monthly cost of $1,037.33, and a total lease payment of $37,343.84. 4. Approve a three-year lease of one (1) DR2AWXSHLR Yamaha superhauler for the Tahquitz Creek Golf Courses through Yamaha Motor Finance Corporation, U.S.A., through Equipment Lease Schedule No. 214019, for a monthly cost of $271.76, and a total lease payment of $9,783.34. 5. Authorize the City Manager to execute all necessary documents. DocuSign Envelope ID: 9BE250C2-F8C4-45CB-9BFF-2B35006F4CAC