HomeMy WebLinkAboutA6544 - YAMAHA GOLF CART COMPANY - Lease Agreement FOR ANCILLARY VEHICLES 1 t 3C� 3
YAMAI IA MOTOR CORPORA"LION,U.S.A.
6555 KA FELLA AVENUE CYPRESS,CALIFORNIA 90630-5101800-551-2994 FAX 714-761-7363
YAMAHA COMMERCIAL CUSTOMER FINANCE
051912014 CITY OF PALM SPRINGS
YAMAAA LEASE DOCUMENTATION
DOCUMENTS TO BE COMPLETED BY MUNICIPALITY
EXHIBIT A-EQUIPMENT SCHEDULE NO. 108899
Authorized City Official signs whom indicated on lower left of form.
0 AMORTIZATION SCHEDULE
To be initialed by an authorized city official.
GOVERNMENT PURCHASE ORDER
If the city requires the use of Purchase Orders,please have them provide one with the documents. However,
if they are not required,please include a signed statement on official city letterhead stating that a purchase order
will not be required for this transaction-
CERTIFICATE OF ACCEPTANCE
To be completed by course after cars are delivered.
E3 INSURANCE LETTER
Letter is to be forwarded to Insurance Agent and a copy of the letter forwarded to Yamaha.
This letter is needed to assist the insurance agent in providing a certificate of insurance to
Yamaha showing the required coverage needed under our agreement.
YAMAHA MOTOR CORPORATION, U.S.A.
COMMERCIAL CUSTOMER FINANCE
6555 Katella Avenue, Cypress, CA 90630
(800) 551-2994, Fax(714)761-7363
E-MAIL: Donna_Hennessy@yamaha-motor.com
AME OF INSURANCE AGENT: May 09, 2014
�SSOG•
(PHONE:
DDRESS:
Please Reference our Quote# 108899
CA ROStd
3 10-) (a — �3 L(q -
FAX: _3_W _ 3� �s10
RE: TAHQUITZ CREEK GOLF RESORT - ` ('Customer)Account#
The Customer has leased or will be leasing equipment from Yamaha.
The Customer is required to provide Yamaha with the following insurance coverage:
"All Risk" Property Insurance covering the property owned by or in which Yamaha has a security interest, in an
amount not less than the full replacement cost of the property,with Yamaha named as LOSS PAYEE.
Public Liability Insurance naming Yamaha as an ADDITIONAL INSURED with the proceeds to be payable first
on the Behalf of Yamaha to the extent of its liability, K any.The amount of the Public Liability Insurance shall
not be less than $1,000,000.00 combined single limit.
Each policy shall provide that: (i) Yamaha will be given not less than thirty(30)days prior written notice of cancellation
or non-renewal, (ii)it is primary insurance and any other insurance covering Yamaha shall be secondary or excess of the
policy and(iii)in no event shall the policy be invalidated as against Yamaha or its assigns for any violation of any term
of the policy or the Customer's application therefore.
A Certificate evidencing such coverage should be mailed to Yamaha at the following address.
Yamaha Motor Corporation,U.S.A.
Attn: Commercial Customer Finance
6555 Katella Ave APPROVED BY CITY COUNCIL
Cypress, CA 90630
Your Prompt attention will be appreciated.
Very Truly Yours,
Equipment Covered:
1 YDREFW4P CITY OF PALM SPRINGS
Name of Debtor/Lessee
7a BY
Equipment Location: (Signature of Auth icer)
1885 GOLF CLUB DR.
PALM SPRINN�CA90630 itle: City Manager
- - ,r
ATTEST;
;Jity2CI�erk
CERTIFICATE OF ACCEPTANCE
This certificate Is executed pursuant to Equipment Schedule No. 108899
dated _ May 08,2014 to the Master Lease Agreement dated
May 08,2014 between Yamaha Motor Corporation, U.S.A.
(the"Lessor")and CITY OF PALM SPRINGS
(the"Lessee").
The Lessee hereby certifies that the Equipment set forth below, as also described in the above
Equipment Schedule, has been delivered and accepted by the Lessee on the Commencement Date
shown below.
EQUIPMENT SERIAL
QUANTITY TYPEIMODEL NUMBER NEW/USED LOCATION
1YDREFW4P See NEW TAHQUITZ CREEK GOLF RESORT
Attachment 1885 GOLF CLUB DR.
PALM SPRINGS,CA 90630
ADDITIONAL CONDITIONS/SPECIAL TERMS:
Please return this certificate as your acknowledgment of the above Commencement Date and acceptability
of the Equipment
APPROVED BY CITY COUNCIL
SI�I�K �C �Ol�1 CIq CITY OF PALM SPRINGS
asl
ATTEST: A Name: __Da.v-c H. Rea dy
ji'tyClerk nnttle: City.-Manager
EXHIBIT A
EQUIPMENT SCHEDULE# 1ogg99
Dated 05/08/2014
1. This Schedule covers the following property('Equipment"):
1 YDREFW4P
2. Location of Equipment:
TAHQUITZ CREEK GOLF RESORT
1885 GOLF CLUB DR.
PALM SPRINGS,CA 90630
3. The Lease term for the Equipment described herein shall commence on June 15,2014 and shall
consist of _ 48 months from the first day of the month following said date.
4. Rental payments on the Equipment shall be in the following amounts,payable on the following schedule:
48 MONTHLY PAYMENTS IN THE AMOUNT OF$130.45(APPLICABLE TAXES TO BE BILLED),
STARTING JUNE 2014 AND ENDING MAY 2018. DUE THE 15TH DAY OF
THE MONTH AS FOLLOWS:
Jun-14$130.45 ]an-15$130.45 Jao-16$130.45 Jan-17$130.45 ]an-18$130AS
Jul-14$330,45 Feb-15$130.45 Feb-16$130.45 Feb-17$130.45 Feb-18$130.45
Aug-14$130.45 Mar-15$130.45 Mar-16$130.45 Mar-17$130.45 Mar-I8$130.45
Sep-14$130.45 Apr-IS$130.45 Apr-16$130.45 Apr-17$130.45 Apr-18$130.45
OCt-14$130.45 May-15$130.45 May-I6$130.45 May-17$130.45 May-18$130.45
Nov-14$130.45 Jun-15$130.45 Jun-16$130.45 Jun-17$130.45
Dec-14$130.45 Jul-15$130.45 Jul-16$130.45 ]ul-17$130.45
Aug-IS$130.45 Aug-16$130.45 Aug-17$130.45
Sep-15$130.45 Sep-16$130.45 Sep-17$130.45
Ott-15$130.45 Oct-16$130.45 Oct-17$130.45
Nov-15$130.45 Nov-16$130.45 Nov-17$130.45
Dec-SS$130.45 Dec-I6$130.45 Dec-17$130.45
5. Interest Factor: 3.400 aka
6. Other Terms:
Lessee agrees to reimburse Lessor, who shall pay any assessed property taxes due on the equipment
leased pursuant to Section 12 of the Master Lease Agreement.
Yamaha is not obligated to perform or provide any service,under any circumstances under the terms of the lease
agreement.Service is the responsibility of the Lessee. Failure by Lessee to maintain or service the equipment consistent
with the terms of the Master Lease Agreement shall not relieve Lessee of the responsibilities under the Master Lease
Agreement.
Signed Counterparts: The parties agree that this Lease may be signed in counterparts,that delivery of an executed counterpart of the
signature page to this Lease by fax,email or other electronic means shall be as effective as delivery of a manually executed counterpart,
and any failure to deliver the original manually executed counterpart sent by fax,email or other electronic means shall not affect the
validity,enforceability or binding effect of this Lease. Notwithstanding any other provision of this Lease,the suit original of this Lease
shall be the Lease bearing the manually executed signature of the Lessor. The Lessee,by making any payment required under this Lease
ratifies all of the terms of this Lease/Amement.
This Equipment Schedule is issued pursuant to the Master Lease dated, May 08,2014 (the
"Lease"). All of the terms and conditions, representations and warranties of the Lease are hereby incorporated herein
and made a part hereof as if they were expressly set forth in this Equipment Schedule and this Equipment Schedule
constitutes a separate lease with respect to the Equipment described herein.
LESSEE: CITY OF PALM SPRINGS LESSOR: YAMAHA MOTOR CORPORATION, U.S.A.
y
-- B
Signature y
David H. Read Kim Ruiz
Name: -Ready
y Name:
Type or Print - ---- -�- - --
Title: City Manager Tide: Vice President
- )RM ATTEST:
APPROVES, NCIL
amity cleric
Adei4--
-� YAMAHA ---- --_,,
City of Palm Springs Tahquitz Initialed By:
AMORTIZATION SCHEDULE FOR MUNICIPALI
MUNICIPAL LEASE AGREEMENT
LESSEE: City of Palm Springs Tahtluitz
EQUIPMENT SCHEDULE # 108899
Yield: 3.400%
Due
Mon # Date Payment Interest
1 07115/14 130.45 19.92
2 08115/14 130.45 19.62
3 09115114 130.45 19.32
4 10/15114 130.45 19.01
5 11/15/14 130.45 18.71
6 11/15/14 130.45 18.71
7 12/15/14 130.45 18.40
8 01115/15 130.45 18.10
9 02/15/15 130.45 17.79
10 03/15/15 130.45 17.48
11 04115/15 130.45 17.17
12 05/15115 130.45 16.86
13 O6/15/15 130.45 16.55
14 07/15/15 130.45 16.24
15 08/15/15 13045 15.93
16 09/15115 130.45 15-61
17 10/15115 130.45 15.30
1B 11/15/15 130.45 14.98
19 12/15/15 130.45 14.67
20 01/15/16 130.45 14.35
21 02115/16 130.45 14.03
22 03/15/16 130.45 13.71
23 04/15/16 130.45 13.39
24 05/15/16 130.45 13.07
25 0&15/16 130.45 12.75
26 07/15/16 130.45 12.43
27 08115/16 130.45 12.11
28 09/15/16 130.45 11.78
29 10115/16 130.45 11.46
30 11115/16 130.45 11.13
31 12/15116 130.45 10.81
32 01/15/17 130.45 10.48
33 02/15/17 130.45 10.15
34 03/15/17 130.45 9.82
35 04/15/17 130.45 9.49
36 05/15/17 130.45 9.16
37 06/15/17 130.45 8.83
38 07/15/17 130.45 8.50
39 08/15/17 130.45 8.16
40 09/15/17 130.45 7.83
41 10/15117 130.45 7.49
42 11/15117 130.45 7.16
43 12/15117 130.45 6,82
44 01115/18 130.45 6.48
45 02/15/19 130,45 6.14
46 03/15/18 130.45 5.80
47 W15/18 130,45 5.46
48 05/15/18 130.45 5.12
Totals: 6,261.60 615.82
1V0
YAMAI IA MOTOR CORPORATION,U.S.A.
6555 KATELLA AVENUE CYPRESS,CALIFORNIA 90630-5101 900-551.2994 FAX 714-761-7363
YAMAHA, COMMERCIAL CUSTOMER FINANCE
OSAOO14 CITYOFPALMSPRINGS
YAMAHA LEASE DOCUMENTATION
DOCUMENTS TO BE COMPLETED BY MWICIPAi TTY
MASTER LEASE AGREEMENT
Authorized City Official signs as"Lessee"on page 4.
0 EXHIBIT A-EQUIPMENT SCHEDULE NO.109897
Authorized City Official signs where indicated on lower left of form.
AMORTIZATION SCHEDULE
To be initiated by an authorized city official.
0 GOVERNMENT PURCHASE ORDER
If the city requires the use of Purchase Orders,please have them provide one with the documents. However,
if they ere not required,please include a signed statement on official city letterhead stating that a purchase order
will not be required for this transaction.
0 CERTIFICATE OFACCEPTANCE
To be completed by course after cars are delivered.
[3 INSURANCE LETTER
Letter is to be forwarded to Insurance Agent and a copy of the letter forwarded to Yamaha
This ICUM is needed to assist the insurance agent in providing a certificate of insurance to
Yamaha showing the required coverage needed under our ag=meut.
E3 ACH FORM
Tbc customer must complate page 2 of the ACH form end attach a voided check. This might be a credit
requirement Plcaae call your Yamaha finance administrator if you ere not certain.
OYAMAHA
Commercial Customer Finance
MUNICIPAL MASTER LEASE AGREEMENT
Page 1 of 4 MLSE0906
YAMAHA
YAMAHA MOTOR CORPORATION, U.S.A.
MASTER LEASE AGREEMENT dated May 8,2014 between YAMAHA MOTOR CORPORATION, U.S.A.,
having Its principal place of business at 6555 Katella Avenue, Cypress, California 90630 ("Lessor), and
CITY OF PALM SPRINGS having its principal office at
1885 GOLF CLUB DR.,PALM SPRINGS CA 92264 ("Lessee"),
Lessor and Lessee hereby agree as follows:
1. Lease of Equipment. Lessor leases to Lessee the equipment described on each attached Equipment Schedule(the"€guipment'),on the
terms and conditions of this Lease,the applicable Equipment Schedule,and each rider attached hereto.
2. Term. The tens of this lease for the Equipment described on a particular Equipment Schedule shall commence on the date set forth on
such Equipment Schedule and shall continue for the number of months indicated on such Equipment Schedule.
3. Rent. Lessee shall pay lessor rent for the Equipment('Rent')in the amounts and at the times set forth on the applicable Equipment
Schedule. The amount of the Rent has been determined by amortizing the purchase price of the applicable Equipment (using the prices
quoted in the Request for Proposal identified on the applicable Equipment Schedule ('$FP"), together with an interest factor at the rate
specified in the applicable Equipment Schedule. Whenever any payment hereunder is not made when due,Lessee shall pay Interest on such
amount from the due date thereof to the date of such payment at the lower of Lessors then prevailing rate for late payments specified in
Lessors invoice to Lessee for such payment or the maximum allowable rate of interest permitted by the law of the state where the Equipment
is located,
4. Selection Delivery.and Acceptance. Lessee shall select the Equipment and take delivery thereof directly from Lessor or an authorized
dealer of Lessor(the'Dealer). All costs of delivery are the sole responsibility of Lessee. Lessor shall not be liable for any loss or damage
resulting from the delay or failure to have any Equipment available for delivery. Lessee shall inspect the Equipment to determine that the
Equipment is as ordered and has been equipped and prepared in accordance with the RFP and any prior instructions given in writing by
Lessee to Lessor or Dealer. Lessee shall accept the Equipment if it meets the criteria set forth in the preceding sentence and shall execute
and deliver to Lessor or Dealer a Certificate of Acceptance, in form and substance satisfactory to Lessor,within 7 days of the delivery of the
Equipment or the Equipment will be deemed accepted by the Lessee. For all purposes of this tease, acceptance is conclusively established
by Lessee's execution and delivery of a Certificate of Acceptance provided by Lessor. Lessee authorizes Lessor to insert in each Equipment
Schedule the serial numbers and other identifying date of the Equipment
5. Location. and Inspection, Lessee shall riot move the Equipment from the locations specified in the applicable Equipment Schedule
without Lessors prior written consent. Lessor and its representatives shall have the right from time to time during business hours to enter
upon the premises where the Equipment is located to Inspect the Equipment and Lessee's records to confirm Lessee's compliance with this
Lease.
6. Care. Use. and Maintenance. Lessee shall, at its expense, at all times during the term of this Lease, keep the Equipment clean,
serviced, and maintained in good operating order, repair, condition, and appearance In accordance with Lessors manuals and other
instructions received from Lessor. Lessee will not use or operate the Equipment,or permit the Equipment to be used or operated,in violation
of any law,ordnance or governmental regulations. The Equipment will be used and operated only as golf cars. Lessee shall safely store the
Equipment when not in use and properly secure R at night and such other tines when the golf course on which the Equipment is used is
closed to play, and Lessee shall be solely responsible for such storage and safekeeping. If the Equipment is electrical, Lessee shall provide
sufficient and adequate electrical charging outlets and water facilities for the batteries which are a part of the Equipment.
7. Insurance, Effective upon delivery of the Equipment to Lessee and until the Equipment is returned to Lessor as provided herein, Lessee
relieves Lessor of responsibility for all risk of physical damage to or loss or destruction of all the Equipment, howsoever caused. During the
continuance of this Master Lease, Lessee shall at its own expense, cause to be carried and maintained with respect to each item of
Equipment designated In each Equipment Schedule public liability insurance in an amount of not less then $1,000,0D0, and casualty
insurance, in each case in amounts and against risk customarily insured against Lessee in similar equipment and, in amounts and against risk
acceptable to Lessor. All policies with respect to such insurance shall name Lessor as additional insured and as loss payee,and shall provide
for at least thirty(30)days'prior written notice by the underwriter or insurance company to Lessor in the event of cancellation or expiration of
any such policies. Lessee shall, upon request of Lessor, furnish appropriate evidence of such insurance to Lessor. Lessee shall beer the
entire risk of loss, theft,destruction or damage to the Equipment from any cause whatsoever and shall not be relieved of the obligation to pay
the total of the monthly payments or any other obligation hereunder because of any such occurrence. In the event of damage to any Rem of
Equipment leased hereunder, Lessee, at its sole expense, shall immediately place the same in good repair and operating condition. In no
event shall Lessor a liable for any loss of profit,damage, loss, defect or failure of any Rem of Equipment or the time which may be required to
recover, repair,service,or replace the item of Equipment
8. Storage. Lessee shall store the Equipment in such a manner as to prevent theft or damage from weather and vandalism.
9. Jj$)g. Title to the Equipment shall at all times remain with the Lessor. Lessee acquires only the interests of Lessee expressly described
in this Lease, the applicable Equipment Schedule, and the riders attached hereto. Lessee shall not remove, move, or cover over in any
manner any serial number on the Equipment. Lessee shall keep all Equipment free from any marking or labeling which might be interpreted
as a claim of ownership thereof by Lessee or any party other than Lessor or anyone so claiming through Lessor. Lessor is hereby authorized
by Lessee, at Lessors expense, to cause this Master Lease, any Equipment Schedule or any statement or other instrument in respect of any
Equipment Schedule as may be required by law showing the interest of Lessor in the Equipment to be filed and Lessee hereby authorizes
Lessor or its agent to sign and execute on Its behalf any and all necessary UCC-1 forms for such purpose. Lessor and Lessee hereby intend
this transaction to be a lease. In the event that for any reason it is not deemed a lease,the Lessee hereby grants Lessor a security interest in
leased property.
Page 2 of 4 MLSE0906
10. Warranties. The Equipment is warranted only in accordance with the manufacturer's warranty. EXCEPT AS EXPRESSLY PROVIDED
IN THE MANUFACTURER'S WARRANTY, LESSOR DISCLAIMS ANY OTHER WARRANTY, EXPRESSED OR IMPLIED, INCLUDING,
WITHOUT LIMITATION,WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE,AND NON-INTERFERENCE.
11. Alterations and Attachments. Lessee may,with Lessor's prior written consent,make such cosmetic modifications to the Equipment as
Lessee may deem desirable in the conduct of its business;provided,however,that such alterations shall not diminish the value or utility of the
Equipment, or cause the loss of any warranty thereon or any certification necessary for the maintenance thereof; and provided, further, that
such modification shall be removable without causing damage to the Equipment. Upon return of the Equipment to Lessor, Lessee shall, if
Lessor so elects,remove such modifications which have been made and shall restore the Equipment to its original condition, normal wear and
tear and depreciation excepted.
12. Taxes. Lessee shall cooperate with Lessor in all reasonable respects necessary in order for Lessor to qualify for any exemption or
exclusion from personal property tax on the equipment or sales or use tax on the leasing of the Equipment to Lessee hereunder. In the event
that any such tax becomes payable by Lessor during the term of this Lease, Lessee shall pay to Lessor as additional rent, promptly on receipt
of Lessor's invoice therefor, an amount equal to such tax. Lessee shall collect and remit any and all sales, use, and other taxes payable in
any state,county,or city in respect of the rental or other use of the Equipment by Lessee.
13. Indemnity: Notice of Claim. Lessee shall be liable for,and hereby indemnifies Lessor and holds Lessor harmless from and against,any
and all claims, costs,expenses, damages, losses, and liabilities(including, with limitation, attorneys'fees and disbursements)arising in any
way from the gross negligence or misconduct of Lessee or Lessee's agents and independent contractors, or their respective employees.
Lessee shall give Lessor prompt written notice of any claim arising out of the possession,leasing, renting, operation,control,use,storage,or
disposition of the Equipment and shall cooperate in all reasonable respects at Lessee's expense in investigating, defending, and resolving
such claim.
14. Return of Equipment. Upon the termination of an Equipment Schedule for any reason, unless Lessee is thereupon purchasing the
Equipment from Lessor, Lessee shall make the Equipment available for inspection and pick up by Lessor or Dealer at Lessee's location at
which the Equipment was used hereunder. The Equipment shall be returned to Lessor at the termination of this Lease in the same operating
order, repair, condition, and appearance as when received by Lessee, less normal depreciation and wear and tear(which shall not include
damaged or missing tires or wheels).
15. Defaults The occurrence of any one or more of the following events shall constitute an'Event of Default"under this Lease:
(a) default by Lessee in the payment of any installment of rent or other charge payable by Lessee under any Equipment Schedule
as and when the same becomes due and payable;or
(b) default by Lessee in the performance of any other material term,covenant or condition of this Lease,any for a period of 10 days
after notice;or
(c) A petition under the Bankruptcy Code or under any other insolvency law providing for the relief of debtors shall be filed by or
against Lessee;or
(d) The voluntary or involuntary making of any assignment of a substantial portion of its assets by Lessee for the benefit of creditors
shall occur, a receiver or trustee for Lessee or for Lessee's assets shall be appointed; any formal or informal proceeding for
dissolution,liquidation,settlement of claims against or winding up of the affairs of Lessee shall be commenced;or
(e) Lessee shall default under any other lease or agreement between Lessee and Lessor or any of its assignees hereunder,or
(f) Lessee shall suffer a material adverse change in its financial condition from the date hereof, and as a result thereof Lessor
deems itself or any of the Equipment to be insecure.
16. Remed . Upon the occurrence of an Event of Default,Lessor,at its option,may pursue any one or more of the following remedies,in
such order or manner as Lessor determines,each such remedy being cumulative and not exclusive of any other remedy provided herein or
under applicable law,
(a) terminate all or any portion of the Equipment Schedules to this Lease;
(b) with or without terminating this Lease, take possession of the Equipment, with or without judicial process. Lessee hereby
granting Lessor the right and license to enter upon Lessee's premises where the Equipment is located for such purpose:
(c) proceed by appropriate court action,either at law or in equity, to enforce performance by Lessee of the applicable covenants
and terms of this Lease, or to recover from Lessee any and all damages or expenses, including reasonable attorneys'fees,
which Lessor shall have sustained by reason of Lessee's default in any covenant or covenants of this Lease,or on account of
Lessors enforcement of its remedies thereunder,without limiting any other damages to which Lessor may be entitled, Lessor
shall be entitled upon an Event of Default to damages in an amount equal to all Rent then due but unpaid,plus the aggregate
amount of Rent thereafter coming due for the remaining term of this Lease, plus Lessors costs and expenses of pursuing its
remedies hereunder (including, without limitation, attorneys' fees), minus all amounts received by Lessor after using
reasonable efforts to sell or re-lease the Equipment after repossession or from any guaranty by the Dealer or any third-party;
and
(d) sell the Equipment or enter into a new lease of the Equipment. No delay by Lessor in pursuing any remedy shall be treated as
a waiver of or limitation on such remedy or any other remedy.
17. Assignment. Neither Lessee nor Lessor shall transfer,assign,or sublease(except for rentals to players as contemplated hereunder in the
ordinary course of business), or create, incur,assume, or permit to exist any security interest, Tien,or other encumbrance on,the Equipment,
this Lease,or any interest of Lessee therein.
18. L m 's Representations and Warranties. Lessee represents and warrants to Lessor that: (a) Lessee has the authority under
applicable law to enter into and perform this Lease and each Equipment Schedule and rider hereto; (b)Lessee has taken all necessary action
to authorize its execution, delivery, and performance of this Lease and each Equipment Schedule and rider hereto; (c)the Lease and each
Equipment Schedule and rider hereto have been duly executed and delivered by an authorized signatory of Lessee and constitute Lessee's
legal,valid, and binding obligations,enforceable in accordance with their terms; (d)adequate funds have been budgeted and appropriated to
enable Lessee to make all payments required under each Equipment Schedule to this Lease during the first twelve months of the term hereof;
and (a) interest paid on indebtedness of Lessee held by Lessor would be excluded from Lessors income for U.S. federal income tax
purposes.
Page 3 of 4 MLSE0906
19. Non-Aoorooriation of Funds. Notwithstanding anything contained in this Lease to the contrary,in the event no funds or insufficient funds
are budgeted and appropriated or are otherwise unavailable by any means whatsoever for Rent due under the Lease with respect to a
Equipment Schedule In any fiscal period after the period in which the term of the lease with respect to such Equipment Schedule commences,
Lessee will Immediately notify Lessor in writing of such occurrence and the Lessee's obligations under the Lease shall terminate on the last
day of the fiscal period for which appropriations have been received or made without penalty or expense to Lessee, except as to (1) the
portions of Rent for which funds shall have been budgeted and appropriated or are otherwise available and(it)Lessee's other obligations and
liabifities under the Lease relating to the period, or accruing or arising, prior to such termination. In the event of such termination, Lessee
agrees to peaceably surrender possession of the Equipment to Lessor on the date of such termination In
the manner set forth In the Lease and Lessor will have all legal and equitable rights and remedies to take possession of the Equipment.
Notwithstanding the foregoing,Lessee agrees(1)that it will not cancel the Lease and the Lease shall not terminate under the provisions of this
section If any funds are appropriated to it,or by it,for the acquisition, retention or operation of the Equipment or other equipment or services
performing functions similar to the functions of the Equipment for the fiscal period In which such termination would have otherwise occurred or
for the next succeeding fiscal period, and (it) that it will not during the Lease term give priority in the application of funds to any other
functionally similar equipment or to services performing functions similar to the functions of the Equipment. This section is not intended to
permit Lessee to terminate the Lease in order to purchase, tease, rent or otherwise acquire the use of any other equipment or services
performing functions similar to the functions of the Equipment,and ifthe Lease terminates pursuant to this section, Lessee agrees that prior to
the end of the fiscal period Immediately following the fiscal period in which such termination occurs, it will not so purchase, lease, rent or
otherwise acquire the use of any such other equipment or services.
20. Bindino Effect: Successors and Assions. This lease and each Equipment Schedule and rider hereto shall be binding upon and shall
Inure to the benefit of Lessor and Lessee and their respective successors and permitted assigns. All agreements and representations of
Lessee contained in this Lease or in any document delivered pursuant hereto or in connection herewith shall survive the execution and
delivery of this Lease and the expiration or other termination of this Lease.
21. Notices. Any notice,request or other communication to either party by the other shall be given in writing and shall be deemed received
only upon the eadter of receipt or three days after marling if mailed postage prepaid by regular mail to Lessor or Lessee,as the case may be,
at the address for such party set forth In this agreement of at such changed address as may be subsequently submitted by written notice of
ether parry.
22. Govemina Law. This Lease and each Equipment Schedule and rider hereto shall be governed by and construed in accordance with the
laws of the State where Lessee's principal administrative offices are located without giving effect to the conflicts of laws principles of such
state.
23. Severablifty In the event any one or more of the provisions of this Lease or any Equipment Schedule or rider hereto shall for any
reason be prohibited or unenforceable in any jurisdiction,any such provision shall,as to such jurisdiction, be ineffective to the extent of such
prohibition or unenforceablydy without invalidating the remaining provisions hereof,any such prohibition or unenforceabflity in any jurisdiction
shall not invalidate or render unenforceable such provision in any other jurisdiction.
24. Signed Counterparts. The parties agree that this Lease may be signed In counterparts,that delivery of an executed counterpart of the
signature page to this Lease by fax,email or other electronic means shall be as effective as delivery of a manually executed counterpart,and
any failure to deliver the original manually executed counterpart sent by fax, email or other electronic means shall not affect the validity,
enforceability or binding effect of this Lease. Notwithstanding any other provision of this Lease,the sole original of this Lease shall be the
Lease bearing the stamped or manually executed signature of the Lessor. The Lessee,by making any payment required under this Lease
rattles all of the terms of this Lease/Agreement
25, Article 2A. To the fullest extent permitted by applicable law,Lessee waives any and all rights and remedies conferred by Sections 2A-
506 through 2A-522 of Article 2A of the Uniform Commercial Code in effect in the stele designated in Section 26 below,except to the extent
that such right or remedy Is expressly granted to Lessee herein.
26. Status of Limitations. Arry action by Lessee against Lessor or Dealer for any breach or default under this Lease must be commenced ',
within one year after the cause of action accrues.
27. Entire Aareement This Lease and all Equipment Schedules and riders hereto constitute the entire agreement between Lessor and
Lessee with respect to the subject matter hereof,and there are no agreements,representations,warranties,or understandings with respect to
such subject matter except as expressly set forth herein and therein. No altematlon or modification of this Lease or any Equipment Schedule
cr rider hereto shall be effective unless It Is In writing and signed by Lessor and Lessee.
IN WITNESS WHEREOF, Lessor and Lessee have caused this Lease to be executed on the date first above written.
CITY OF PALM SPRINGS YAMAHA MOTOR CORPORATION. U.S.A.as Lessor
Lessee
�e . By:
rint Name: David H , ea d Print Name: Kim Ruiz
City Mana er Title: Mine Precidprit
�� APPROVED BY CITY COUNCIL
l 1) 4 of q MLSE0905
ATTEST:
?ity Clerk
EXHIBIT A
EQUIPMENT SCHEDULE# 108897
Dated 05/08a014
1. This Schedule covers the following property("Equipment"):
2 YT2AREV2 GOLF CARS
2. Location of Equipment:
TAHQUITZ CREEK GOLF RESORT
1885 GOLF CLUB DR,
PALM SPRINGS,CA 90630
3. The Lease term for the Equipment described herein shall commence on June 15,2014 and shall
consist of 48 months from the lust day of the month following said date.
4. Rental payments on the Equipment shall be in the following amounts,payable on the following schedule:
48 MONTHLY PAYMENTS IN THE AMOUNT OF 5349.00(APPLICABLE TAXES TO BE BILLED).
STARTING JUNE 2014 AND ENDING MAY 2018. DUE THE 15TH DAY OF
THE MONTH AS FOLLOWS:
Im-14$349.00 )arr15$349.00 Jan-16$349M Jao-17$349.00 )n-18$349.00
Jul-14$345.00 Feb-15$349.00 Feb-16$349.00 Feb-17$349.00 Feb-18$349.00
Aug-14$349.00 F4r-15$349.00 Mar46;349.00 Marv17$349.00 Mar-18$34R00
SW14$349.00 Apr-15 3.349.00 ApM6$349A0 W17$349.00 Apr-18(349.00
OCt-14 4349M May-15 4349.00 May-/6$349.00 May-17 r349.00 May-18$349.00
Nov-14$349.00 3un-154349M )un-164349A0 Jun-17$349.00
Dec-14$349M 1u1-1S$349.D0 Aa-16$349.00 JUU75349.00
Aug-15$349.00 Au¢76$349.00 Aug-17$349.0D
SeIAS$3449.00 SW16 f349.00 Sep-17$349.00
OCF154349.D0 OCt-16$349.00 OCt-174349.00
No 15$349.00 Nw-16$349.00 Nov-17 f349.00
De�15$349.00 De 16$349.00 De 17$349.00
3.400
5. Interest Factor: %
6. Other Terms:
Lessee agrees to reimburse Lessor, who shall pay any assessed property taxes due on the equipment
)eased pursuant to Section 12 of the Master Lease Agreement.
Yamaha is not obligated to perform or provide any service,under any circumstances under the terms of the lease
agreement.Service is the responsibility of the Lessee. Failure by Lessee to maintain or service the equipment consistent
with the terms of the Master lease Agreement shall not relieve Lessee of the responsibilities under the Master Lease
Agreement.
Signed Counterparts: The parties agree that this lease may be signed in counterparts,that delivery of an executed counterpart of the
signature page to this Lease by fax,email or other electronic means shall be as cffective as delivery of a manually executed counterpart,
and any failure to deliver the original manually executed counterpart sent by fax,email or other electronic means shall not affect the
validity,enforceability a binding effect of this Lease. Notwithstanding any other provision of this Lease,the sole original of this Lease
shall be the Lease bearing the manually executed signature of the Lessor. The lessee,by making any payment required under this Lease
ratifies all of the tends of this Lease/Aereetnent
Ibis Equipment Schedule is issued pursuant to the Master Lease dated, May 08,2014 (the
"Lease"). All of the terms and conditions, representations and warranties of the Lease are hereby incorporated herein
and made a part hereof as if they were'expressly set forth in this Equipment Schedule and this Equipment Schedule
constitutes a separate lease with respect to the Equipment described herein.
CITY OF PALM PS RINGS LESSOR: YAMAHA MOTOR CORPORATION, U.S.A.
Signature
David H. Ready IOm Ruiz
lame: ..-- ..�_ Name:
Type or Print
lute:
City Manager Title: vice President
-
ATTESM
APPROVED BY CITY COUNCIL
1
tY
�-1.1�1f ?��j_ Al�h�►� Clerk
YAMAHA -- --
City of Palm Springs Tahquitz �nitialed By:
AMORTIZATION SCHEDULE FOR MUNICIPA ITY
MUNICIPAL LEASE AGREEMENT
LESSEE: Citv of Palm Springs Tahquitz
EQUIPMENT SCHEDULE# 108897
Yield: 3.400%
Due
Mon # Date Payment Interest
1 06/15/14 349.00 59.74
2 07/15/14 349.00 58.95
3 08/15/14 349.00 58.15
4 09/15/14 349.00 67.36
5 10/15/14 349.00 56.56
6 11/15114 349.00 55.76
7 12/15114 349.00 54.95
8 01/15/15 349.00 54.15
9 02/15115 349.00 63.34
10 03/15/15 349.00 52.53
11 04/1W15 349.00 51.71
12 O5/15/15 349.00 50.90
13 06/15/15 349.00 50.08
14 07115/15 349.00 49.26
15 oBMS/15 349.00 48.44
16 09/15/15 349.00 47.62
17 10/15/15 349.00 46.79
18 11/16115 349.00 45.96
19 12/15A5 349.00 45.13
20 01/15/16 349.00 44.30
21 02/15/16 349.00 43.46
22 03/15/16 349.00 42.62
23 04/151% 349.00 41.78
24 05/15/16 349.DD 40.94
25 06/15/16 349.00 40.10
26 07/15/16 349.00 39.25
27 08/15/16 349.00 38.40
28 09/15116 349.00 37.55
29 10/15/16 349.00 36.70
30 11/15/16 349.00 35.84
31 12/15/16 349.00 34.98
32 01/15/17 349.00 34.12
33 02N5117 349.00 3326
34 03/15/17 349.00 32.39
35 04/15M7 349.00 31.52
36 05/15/17 349.OD 30.65
37 06/16/17 349.00 29.78
38 07/15/17 349.00 28.90
39 08/15/17 349.00 28.03
40 09/15/17 334q9.00 27.15
42 11/15117 333ggq9.00 26.26
43 12/15/17 349.0000 24.49
44 01/15/18 349.00 23.60
45 02/15/18 349.00 22.71
46 03/16/18 349.00 21.81
47 W15118 349.00 20.92
48 05M 5/18 349.00 20.02
Totals: 10,752.00 1,934.28
CERTIFICATE OF ACCEPTANCE
This certificate is executed pursuant to Equipment Schedule No. 106897
dated May_08,2014 to the Master Lease Agreement dated
Mav 08 2014 between Yamaha Motor Corporation, U.S A.
(the"Lessor')and CITY OF PALM SPRINGS
(the"Lessee").
The Lessee hereby certifies that the Equipment set forth below,as also described in the above
Equipment Schedule,has been delivered and accepted by the Lessee on the Commencement Date
shown below.
EQUIPMENT SERIAL
QUANTITY TYPEIMODEL NUMBER NEWIUSED LOCATION
2 YT2ABEV2 GOLF CARS See NEW TAHQUITZ CREEK GOLF RESORT
Attachment 1885 GOLF CLUB DR.
PALM SPRINGS,CA 90630
ADDITIONAL CONDITIONS/SPECIAL TERMS:
Please return this certificate as your acknowledgment of the above Commencement Date and acceptability
of the Equipment
APPROVED BY CITY COUNCIL
CITY OF PALM SPRINGS
Al
ATTEST: -name: David H. Ready
Title: __._ City Manager _-
Clerk
YAMAHA MOTOR CORPORATION, U.S.A.
COMMERCIAL CUSTOMER FINANCE
6555 Katella Avenue, Cypress,CA 90630
(800) 551-2994, Fax(714)761-7363
E-MAIL: Donna_Hennessy@yamaha-motor.com
AME OF,1INSURANCE AGENT: May 09,2014
w.hGn ar �1hb(.
ADDRESS:
_0 jko Please Reference our Quote# 108897
PHONE:
AX:
RE: TAHQUITZ CREEK GOLF RESORT (Customer)Account#
The Customer has leased or will be leasing equipment from Yamaha.
The Customer is required to provide Yamaha with the following insurance coverage:
"All Risk" Property Insurance covering the property owned by or in which Yamaha has a security interest, in an
amount not less than the full replacement cost of the property,with Yamaha named as LOSS PAYEE.
Public Liability Insurance naming Yamaha as an ADDITIONAL INSURED with the proceeds to be payable first
on the Behalf of Yamaha to the extent of its liability, if any.The amount of the Public Liability Insurance shall
not be less than$1,000,000.00 combined single limit.
Each policy shall provide that:(i) Yamaha will be given not less than thirty(30)days prior written notice of cancellation
or non-renewal, (ii)it is primary insurance and any other insurance covering Yamaha shall be secondary or excess of the
policy and (iii)in no event shall the policy be invalidated as against Yamaha or its assigns for any violation of any term
of the policy or the Customer's application therefore.
A Certificate evidencing such coverage should be mailed to Yamaha at the following address.
Yamaha Motor Corporation,U.S.A.
Attn: Commercial Customer Finance
6555 Katella Ave APPROVED BY CITY COUNCIL
Cypress, CA 90630 �.1,, ` I�
Your Prompt attention will be appreciated. Very Truly Yours, Y�C1JN�+
Equipment Covered:
2 YT2ABEV2 GOLF CARS CITY OF PALM SPRINGS
(Name of Debtor/Lessee
y
Equipment Location: (Signature of Authoriz r)
1885 GOLF CLUB DR. David H. Ready, City M r
PALM SPRINGS CA 90630e __.
ATTEST.
,;iity Clerk
YAMAHA
Commercial Customer Finance
Dear Customer,
Yamaha has in place a process to assist you in making the task of drafting your monthly
payment as effortless and convenient as possible. Your payment could be made
electronically though the Automated Clearing House system (ACH).
An ACH is the automatic transfer of your scheduled golf car payment from your bank, to
Yamaha. This would save your company the expense of checks, stamps, envelopes
and time.
To sign up for the ACH system, please fill out the attached agreement and send it back
to us along with a copy of a cancelled check. That is all it takes.
If you should have any questions about this offer, please give our customer service
representative a call at 800-551-2994 (ext. 1).
Yamaha Commercial Customer Finance would like to thank you for your business and
we hope that you chose to take advantage of this convenient payment method.
6555 Kalella Ave Cypiv s ('A 91)630 MOO-551-_2994 Fax 714-761-7363
ACH I ONLINE PAYMENTS AGREEMENT
RECITALS
Yamaha Motor Corporation, U.S.A. ("Yamaha"), located at 6555 Katella Ave, Cypress,CA 90630,seeks to provide
Customer with the ability to make payments electronically through the Automated Clearing House system ("ACH
System")to the Account,as defined below,in satisfaction of Customer's payment obligations to Yamaha and Customer
desires to use the ACH System to transfer funds from the Account, as defined below,to Yamaha in satisfaction of its
payment obligations in accordance with the terms set forth below.
NOW,THEREFORE,in consideration of the promises and the mutual covenants herein contained and other good and
valuable consideration,receipt and sufficiency of which the parties hereto acknowledge,it is hereby agreed as follows:
I. Customer's Account Customer shall complete the attached Authorization Agreement for Direct Payments form
("Application"),and allow Yamaha to initiate debit entries through the ACH System to Customer's Account as defined
below,to collect amounts owed by Customer to Yamaha Customer shall provide certain information required by the
Application, including information regarding Customer's bank and bank account (the "Account") through which
Yamaha will initiate the debit entries authorized pursuant to this Agreement Customer will immediately complete and
deliver to Yamaha an updated Authorization Agreement from time to time if any information regarding the Account is
changed or is inaccurate. Yamaha will thereupon enter such new information regarding the Account into the ACH
System. Customer will execute such agreements that ere required by Customer's bank to allow Yamaha to initiate the
debit entries to Account,and to receive the corresponding payments.
2. Authorization for ACH PavmenL By entering into this Agreement Customer irrevocably authorizes Yamaha
during the term of their Equipment Schedule,to initiate debit entries through the ACH System to the Account to pay
Customer's obligations, and to take possession of funds in the Account for application to such obligations. If a
Customer's debit transaction is rejected by the Customer's bank for reasons such as non-sufficient funds,Yamaha shall
have the right to charge Customer's Account a fee of Fifty Dollars(S50)to cover administrative costs associated with
the rejected payment.
3. Limitation of Liability for ACH System. Yamaha will not be liable for the act or omission of any Automated
Clearing House, financial institution, or any person who has obtained unauthorized access to the ACH System.
Customer acknowledges that if any error occurs in the ACH System debiting process,and Customer will immediately
notify Yamaha if the amount of any debit entry which Yamaha initiates exceeds the amount owed by Customer.
Customs agrees, however,that Yamaha's liability for any such error will be limited to a credit by Yamaha to the
Account in the amount of the entry which exceeds the amount owed by Customer, and in no event will Yamaha be
liable to Customer for any consequential,special or incidental damages.
4. Notices. Any written notice or other written commrmication required or permitted to be given under this Agreement
shall be delivered,or sent by United States certified mail,rxtum receipt requested,to Yamaha unless another address is
substituted by notice delivered or sent as provided herein. Any such notice will be deemed given when received.
5. Termination. This agreement,if required by Yamaha as a credit condition of the account,will only be terminated
at the end of the term of the Equipment Schedule or after all payments on the Equipment Schedule have been satisfied.
If not a credit condition requirement,Yamaha Or Customer may terminate this agreement at any time by giving thirty
(30)days prior written notice to the other party.
6. Govemin¢Law, This Agreement shall be governed by and construed in accordance with the laws of the State of
California without regard to conflicts of law principles thereof. Any disputes,claims and controversies arising out of or
directly or indirectly relating to this Agreement, or the breach, invalidity or termination thereof, shall be settled by
binding arbitration to be held in Orange County,California-
7- Entin Aereement This Agreement embodies the entire agreement of the parties with respect to the subject matter
hereof, and supersedes all previous negotiations, tepresentations, and agreements with respect hereto, and shall be
binding upon the parties hereto. This Agreement may be amended Only by a writing signed by both parties. In the
event that any provision of this Agreement shall be held invalid,illegal or otherwise unenforceable for any reason in
any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of any such
provision or obligation in any other jurisdiction,shall not in anyway be affected or impaired thereby. Customer cannot
assign this Agreement without Yamaha's prior written consent Headings are used for reference purposes only,and are
not part of this Agreement. The failure by either party to enforce or take advantage of any provision hereof shall not
.constitute a waiver of the right subsequently to enforce or take advantage of such provisions. The parties may rely on
any facsimile copy,electronic data transmission or electronic data storage of this Agreement which will be deemed an
original,and the best evidence thereof,for all purposes.
Address for Deliver of Notice:
Yamaha Motor Corporation,U.S.A.
6555 Katella Avenue,Cypress,CA 90630
Attention:Stacey Stankgy Assistant Department Managg
Page 1 of 2 ACH0906
AUTHORIZATION AGREEMENT FOR DIRECT PAYMENTS(ACH DEBITS)
Customer Name CITY OF PALM SPRINGS
CustornerNumber 3281005
Contact Phone Number
1(we)hereby authorize Yamaha Motor Corporation,U.S.A.,hereinafter called Yamaha,to initiate ebit
entries to my(our)
r Checking Account or
r Savings Account
Indicated below at the depository financial institution named below,hereafter called epository,and to
debit the same to such account. I(we)acknowledge that the origination of ACH sactions to my(our)
account must comply with the provisions of U.S.law.
Depository Name
Branch
City Star Zip
Bank Routing Number
Bank Account Number
r Please indicate with acheck-mark that there is no bit blocking on your account that would prevent
Yamaha from debiting your account according to the mvisions of the ACH agreement.
This authorization is to remain in full force and ffect and can only be terminated under the terms provided
under Paragraph 5.
By signing below,Customer acknowledg its agreement to the terms of the ACH/Online Payments
Agreement set forth on the reverse side f this document.
Names) (Please Print)
Position(s) (Please Print)
(must an owner or officer of the company)
Signature(s)
Date
INSTRUCTIONS FOR ESTABLISHING ACH ACCOUNT:
Please forwar this executed agreement,along with a voided check,to the following address:
Yamaha Motor Corporation,U.S.A.
Attn:Stacey Stankey
6555 Katella Avenue,Cypress,CA 90630
Page 2 of 2 ACH0906
t t 1
a 3
YAMAHA MOTOR CORPORATION,U.S.A.
6555 KATELLA AVENUE CYPRESS,CALIFORNIA 90630-5101 800-551-2994 FAX 714-761-7363
YAMAIIA COMMERCIAL CUSTOMER FINANCE
OS/9/2019 CITY OF PALM SPRINGS
YAMAHA LEASE DOCUMENTATION
DOCUMENTS TO BE COMPLETED BY MUNICIPALITY
0 EXHIBIT A-EQUIPMENT SCHEDULE NO. 108898
Authorized City Official signs where indicated on lower left of form.
AMORTIZATION SCHEDULE
To be initialed by an authorized city official.
E3 GOVERNMENT PURCHASE ORDER
If the city requires the use of Purchase Orders,please have them provide one with the documents. However,
if they are not required,please include a signed statement on official city letterhead stating that a purchase order
will not be required for this transaction.
CERTIFICATE OF ACCEPTANCE
To be completed by coursc after cars are delivered.
INSURANCE LETTER
Letter is to be forwarded to insurance Agent and a copy of the letter forwarded to Yamaha
This letter is needed to assist the insurance agent in providing a certificate of insurance to
Yamaha showing the required coverage needed under our agreement.
EXHIBIT A
EQUIPMENT SCHEDULE# 108898
Dated 05/08/2014
1. This Schedule covers the following property("Equipment"):
1 YT1A GOLF CAR
2. Location of Equipment:
TAHQUITZ CREEK GOLF RESORT
1885 GOLF CLUB DR.
PALM SPRINGS,CA 90630
3. The Lease term for the Equipment described herein shall commence on .rune 15,2014 and shall
consist of 48 months from the fast day of the month following said date.
4. Rental payments on the Equipment shall be in the following amounts,payable on the following schedule:
48 MONTHLY PAYMENTS IN THE AMOUNT OF$122.75(APPLICABLE TAXES TO BE BILLED).
STARTING JUNE 2014 AND ENDING MAY 2018. DUE THE 15TH DAY OF
THE MONTH AS FOLLOWS:
Jun-14$122.75 ]an-15$1ZZ.75 3an-16$122.75 Jan-17$122.75 ]an-18$122.75
Jul-14$122.75 Feb-15$1ZZ.75 Feb-16$122.75 r-eb-17$122.75 Rb-18$122.75
Aug-14$122.75 Mar-15$122.75 Mar-16$122.75 Mar-17$122.75 Mar-18$122.75
Sep-14$122.75 Apr-15$122.75 Apr-16$122.75 Apr-17$122.75 Apr-18$122.75
Oct-14$122.75 May-15$122.75 May-16$122.75 May-17$122.75 Mar-18$122.75
NM-14$122.75 Jun-15$122.75 Jun-16$122.75 3un-17$122.75
Deo14$122.75 Jul-15$122,75 luF16$122.75 Jul-17$122.75
Aug-15$122.75 Aug-16$122.75 Aug-17$122.75
Sep-15$127 75 Sep-16$122.75 Sep-17$122.75
Oct-15$122.75 Oa-16$222.75 Oct-17$122.75
Nov-15$122.75 Nov-16$122.75 Nov-17$122.75
De 15$122,75 Dec-16$122.75 Dec-17$2Z2.75
5. Interest Factor.
3,400
6. Other Terms:
Lessee agrees to reimburse Lessor, who shall pay any assessed property taxes due on the equipment
leased pursuant to Section 12 of the Master Lease Agreement.
Yamaha is not obligated to perform or provide any service,under any circumstances under the terms of the lease
agreement.Service is the responsibility of the Lessee. Failure by Lessee to maintain or service the equipment consistent
With the terms of the Master Lease Agreement shall not relieve Lessee of the responsibilities under the Master Lease
Agreement.
Signed Counterparts: The parties agree that this Lease may be signed in counterparts,that delivery of an executed counterpart of the
signature page to this Lease by fax,email or other electronic means shall be as effective as delivery of a manually executed counterpart,
and any failure to deliver the original manually executed counterpart sent by fax,email or other electronic means shall not affect the
validity,enforceability or binding effect of this Lease. Notwithstanding any other provision of this Lease,the sole original of this Lease
shall be the Lease bearing the manually executed signature of the Lessor. The Lessee,by making any payment required under this Lease
ratifies all of the terms of this Lcase/Aeeemmt
This Equipment Schedule is issued pursuant to the Master Lease dated, May 08,2014 (the
"Lease"). All of the terms and conditions, representations and warranties of the Lease are hereby incorporated herein
and made a part hereof as if they were expressly set forth in this Equipment Schedule and this Equipment Schedule j
constitutes a separate lease with respect to the Equipment described herein.
LESSEE: CITY OF PALM SPRING
7na
c LESSOR: YAMAHA MOTOR CORPORATION, U.S.A.
BY: ___ ..__-..__. .__ _. By: _.._
Sig -._.....--....._ __-
David Kim Ruiz
ame: -- Name:
Type or Print --
i"fitle: City Manager Title: Vice President
ATTEST:
APPROVED BY CITY COUNCIL
,,
ity Clerk r 1 A 2/� I^i7r//l�tY
YAMAHA
City of Palm Springs Tahquitz nitialed By:
AMORTIZATION SCHEDULE FOR MUNICIPALITY
MUNICIPAL LEASE AGREEMENT
LESSEE: City of Palm Springs Tahpuitz /
EQUIPMENT SCHEDULE # 108898
Yield: 3.400%
Due
Mon # Date Payment Interest
1 06/15/14 122.75 19.03
2 07/15/14 122.75 18.75
3 06/15/14 122.75 18.47
4 09/15/14 122.76 18.18
5 10115/14 122.75 17.89
6 11/15/14 122.75 17.61
7 12/15/14 122.75 17.32
8 01/15/15 122.75 17.03
9 02/15/15 122.75 16.74
10 03/15/15 122.76 16.45
11 04 15115 122.75 16.16
12 05115/15 122.76 15.67
13 06/15/15 122.75 15.58
14 07/15115 122.75 15.28
15 08/15/15 122.76 14.99
16 09116/15 122.75 14.70
17 10/15/15 122.75 14AO
18 11/15/15 122.75 14.10
19 12115/15 122.75 13.81
20 01/15/16 122.75 13.51
21 02/15/16 122.75 13.21
22 03115/16 122.75 12.91
23 04/15/16 122.75 12.61
24 05115/16 122.75 12.31
25 06/15116 122.75 12.01
26 07/15/16 122.75 11.70
27 08/15/16 122.75 11.40
28 09/15/16 122.75 11.09
29 1011&16 122.75 10.79
30 11/15/16 122.75 10.48
31 12/15/16 122.75 10.17
32 01/16/17 122.75 9.87
33 02/15/17 122.75 9.56
34 03115/17 122.75 9.25
35 04/15/17 122.75 8.94
36 05/15/17 122.76 8.63
37 06115/17 122.75 8.31
38 07/15/17 122.75 8.00
39 08/15/17 122.75 7.69
40 09/1 7 122.75 7.37
41 10/15/17 122.75 7.06
42 11/15/17 122.75 6.74
43 12115117 122.75 6.42
44 01/15118 122.75 6.10
45 02/15/18 122.75 5.79
46 03/15/18 122.75 5A7
47 04115/18 122.75 5.14
48 05115/18 122.75 4.82
Totals: 6,892.00 579.71
CERTIFICATE OF ACCEPTANCE
This certificate is executed pursuant to Equipment Schedule No. 108898
dated May 08,2014 to the Master Lease Agreement dated
May 08,2014 between Yamaha Motor Corporation. U.S.A.
(the"Lessor')and CITY OF PALM SPRINGS
(the"Lessee").
The Lessee hereby certifies that the Equipment set forth below, as also described in the above
Equipment Schedule,has been delivered and accepted by the Lessee on the Commencement Date
shown below.
EQUIPMENT SERIAL
QUANTITY TYPEIMODEL NUMBER NEW/USED LOCATION
t Yr1A GOLF CAR See NEW TAHOUlTZ CREEK GOLF RESORT
Attachment 1885 GOLF CLUB DR.
PALM SPRINGS.CA 90630
ADDITIONAL CONDITIONSISPECIAL TERMS:
Please return this certificate as your acknowledgment of the above Commencement Date and acceptability
of the Equipment
APPROVED BY CITY COUNCIL
ATTEST:
CITY OF PALM SPRINGS
�,ierl( as Lessee
---
�*-Oame: David H. Readv--______
1--kitle: _. . City Manager___
YAMAHA MOTOR CORPORATION, U.S.A.
COMMERCIAL CUSTOMER FINANCE
6555 Katella Avenue,Cypress, CA 90630
(800) 551-2994, Fax(714)761-7363
E-MAIL: Donna_Hennessy@yamaha-motor.com
AM OF INSURANCE AGE T:'J__, \ ^, May 09, 2014
ADDRESS: P.CJ . f)�`F• kb
Tommy Please Reference our Quote# 108898
tPHNE:
RE: TAHQUITZ CREEK GOLF RESORT (Customer)Account#
The Customer has leased or will be leasing equipment from Yamaha.
The Customer is required to provide Yamaha with the following insurance coverage:
"All Risk" Property Insurance covering the property owned by or in which Yamaha has a security interest, in an
amount not less than the full replacement cost of the property,with Yamaha named as LOSS PAYEE.
Public Liability Insurance naming Yamaha as an ADDITIONAL INSURED with the proceeds to be payable first
on the Behalf of Yamaha to the extent of its liability, if any.The amount of the Public Liability Insurance shall
not be less than$1,000,000.00 combined single limit.
Each policy shall provide that: (i) Yamaha will be given not less than thirty(30)days prior written notice of cancellation
or non-renewal, (ii)it is primary insurance and any other insurance covering Yamaha shall be secondary or excess of the
policy and(iii)in no event shall the policy be invalidated as against Yamaha or its assigns for any violation of any term
of the policy or the Customer's application therefore.
A Certificate evidencing such coverage should be mailed to Yamaha at the following address.
Yamaha Motor Corporation,U.S.A.
Attn: Commercial Customer Finance
6555 Katella Ave APPROVED BY CffY COUNCIL
Cypress,CA 90630
Your Prompt attention will be appreciated. Very Truly Yours,
Equipment Covered:
1 YT1A GOLF CAR _CITY OF PALM SPRINGS
(Name of,Debtor/Lessee)
By:
Equipment Location: (Signature of AuthorizedbAso
1888 GOLF CLUB DR. _ David H. Ready, City Ma nag
PALM SPRINGS CA 90630 Title:
i
ATTEST;
e� -
ity Clerk
t 3t 3
YAMAHA MOTOR CORPORATION, U.S-A.
6555 KATELLA AVENUE CYPRESS,CALIFORNIA 90630-5101 800-551.2994 FAX 714-761-7363
YAMAHA COMMERCIAL CUSTOMER FINANCE
;;;;014 CITY OF PALM SPRINGS
YAMAHA LEASE DOCUMENTATION
DOCUMENTS TO BE COMPLETED BY MUNICIPALITY
C3 EXHIBIT A-EQUIPMENT SCHEDULE NO.109899
Authorized City Official signs where indicated on lower left of form.
0 AMORTIZATION SCHEDULE
To be initialed by an authorized city official.
GOVERNMENT PURCHASE ORDER
If the city requires the use of Purchase Orders,please have them provide one with the documents. However,
if they are not required,please include a signed statement on official city letterhead stating that a purchase order
will not be required for this transaction.
[] CERTIFICATE OF ACCEPTANCE
To be completed by course after cars are delivered.
I] INSURANCE LETTER
Letter is to be forwarded to Insurance Agent and a copy of the letter forwarded to Yamaha
This letter is needed to assist the insurance agent in providing a certificate of insurance to
Yamaha showing the required coverage needed under our agreement.
EXHIBIT A
EQUIPMENT SCHEDULE# 108898
Dated 0 5/0812 0 1 4
1. This Schedule covers the following property("Equipment");
1 YTIA GOLF CAR
2. Location of Equipment:
TAHQUITZ CREEK GOLF RESORT
1885 GOLF CLUB DR.
PALM SPRINGS,CA 90630
3. The Lease term for the Equipment described herein shall commence on June 15,2014__._ and shall
consist of 48 months from the fast day of the month following said date.
4. Rental payments on the Equipment shall be in the following amounts,payable on the following schedule:
48 MONTHLY PAYMENTS IN THE AMOUNT OF S122.75(APPLICABLE TAXES TO BE BILLED).
STARTING JUNE 21114 AND ENDING MAY 2018. DUE THE 15TH DAY OF
THE MONTH AS FOLLOWS;
Jun-14$122.75 Jan-15$122.75 Jan-16$122.75 Jan-17$122.75 3an-18$122.75
Jul-14$12L75 Feb-IS$122.75 Feb-16$tm.75 Feb17$IM75 Feb-28$122.75
Aug-14$122.75 N4 15$122.75 t4ar-16$222.75 Mar17$122.75 Marls$122.75
SeP•14$122.75 Apr-IS$122.75 Apr-16$122.75 Apr-17$122.75 Apr-18$122.75
Ort-14$122.75 May-15$122.75 May-16 s122.75 May-17$172.75 May-28$122.75
NW 14$12L75 Jun-15$122.75 Jun-16$12275 Jurr17$12L75
Dec-14$122-75 JUF15$122.75 JN-16$122.75 JN-17$127-75
Aug-15$122.75 Aug-16$122.75 Aug-17$12775
Sep-15$122.75 SM16$12L75 Sep-17$122-75
Oct-IS$122.75 Oct-16$IM75 Oct-17$122.75
Nov-15$122,75 Nov-16$122.75 Nev-17$122.75
Deo15$122.75 De 16$M75 Deh17$122.75
5. Interest Factor. 3.400 %
6. Other Terms:
Lessee agrees to reimburse Lessor, who shall pay any assessed property taxes due on the equipment
)eased pursuant to Section 12 of the Master Lease Agreement.
Yamaha is not obligated to perform or provide any service,under any circumstances under the terms of the lease
agreement.Service is the responsibility of the Lessee. Failure by Lessee to maintain or service the equipment consistent
with the terms of the Master Lease Agreement shall not relieve Lessee of the responsibilities under the Master Lease
Agreement.
Signed Counterparts: The parties agree that this Lease may be signed in counterparts,that delivery of an executed counterpart ofthe
signature page to this Lease by fax,email or other electronic means shall be as effective as delivery of a manually executed counterpart,
cJ and any failure to deliver the original manually executed counterpart seat by fax,email or other electronic means shall not affect the
j validity,enforceability or binding effect of this Lease. Notwithstanding my other provision of this Lease,the sole original of Us Leasc
v shall he the Lease bearing the manually executed signature of the Lessor. '[he Lessee,by making arty payment required under this Lease
ratifies all of the terms of this Lease(Aereement.
Tbis Equipment Schedule is issued pursuant to the Master Lease dated, May_08.2014 (the
m "Lease). All of the[elms and conditions, representations and warranties of the Lease are hereby incorporated herein
and made a part hereof as if they were expressly set forth in this Equipment Schedule and this Equipment Schedule
} constitutes a separate lease with respect to the Equipment described herein.
4 �f LESSEE: CITY OF PALM SPRINGS LESSOR: YAMAHA MOTOR CORPORATION, U.S.A.
Jgnature
lame: David H. Ready Name: Kim Ruiz
Type or Print
�h'itic: City Manager Vim President
Title:
� � ATTEST;
ity Clerk
YAMAHA --
City of Palm Springs Tahquitz nitialed By:
AMORTIZATION SCHEDULE FOR MUNICIPALITY
MUNICIPAL LEASE AGREEMENT
LESSEE: City of Palm Springs Tahquitz
EQUIPMENT SCHEDULE# 108898 /
Yield: 3A00%
Due
Mon# Date Payment Interest
1 06115/14 122.75 19.03
2 07/15114 122.75 18.75
3 08115/14 122.75 18.47
4 09115/14 122.75 18.18
5 10/15114 122.75 17.89
6 11/15/14 122.75 17.61
7 12/15114 12275 17.32
8 01/15115 122.75 17.03
9 02115I15 122.75 16.74
10 03/15115 122.75 16.45
11 OV15115 122.75 16.16
12 05115115 122.75 15.87
13 06/15115 122.75 15.58
14 07115115 122.75 15.28
15 08115115 12275 14.99
16 0W15115 12775 14.70
17 1of15115 122.75 14.40
18 11/15/15 122.75 14.10
19 12/15/15 122.75 13.81
20 01/15/16 122.75 13.51
21 02/15/18 122.75 13.21
22 03/15116 122.75 12.91
23 04/15116 122.75 12.61
24 05115116 122.75 12.31
25 06/15116 122.75 1201.
26 07115116 122.75 11.70
27 08/15/16 122.75 11.40
28 09/15/16 122.75 11.09
29 10115116 122.75 1079
30 11/15116 122.75 10.48
31 12115/16 122.75 10.17
32 01/15/17 122.75 9.87
33 02/15f17 122.75 9.56
34 03/15/17 122.75 9.25
35 04/15/17 122.79 8.94
36 05115/17 122.75 &83
37 WM 5/17 122.75 8.31
38 07115f17 122.75 8.00
39 08/15117 122.75 7.69
40 OW15117 122.75 7.37
41 10/15/17 122.75 7.06
42 11/15/17 122.75 6.74
43 12I15f17 122.75 6.42
44 01f15/18 12275 &10
45 02/15/18 122.75 5.79
46 03/15/18 122.75 5.47
47 04/16118 122.76 6.14
48 05115/18 12z75 4.82
Totals: 5,89zoo 579.71
CERTIFICATE OF ACCEPTANCE
This certificate is executed pursuant to Equipment Schedule No. 108898
dated May 08.2014 to the Master Lease Agreement dated
May 08 2014 —,-between Yamaha Motor CgrToration, U.S.A.
(the"Lessor')and CITY OF PALM SPRINGS
(the"Lessee").
The Lessee hereby certifies that the Equipment set forth below,as also described In the above
Equipment Schedule,has been delivered and accepted by the Lessee on the Commencement Date
shown below.
EQUIPMENT SERIAL
QUANTITY TYPEIMODEL NUMBER NEWIUSED LOCATION
1 YT1A GOLF CAR See NEW TAHOUITZ CREEK GOLF RESORT
Attachment 1885 GOLF CLUB DR.
PALM SPRINGS,CA 9083D
ADDITIONAL CONDITIONSISPECIAL TERMS:
Please return this certificate as your acknowledgment of the above Commencement Date and acceptability
of the Equipment
APPROVED BY CITY COUNCIL
CITY OF PALM SPRINGS
ATTEST: `tea e
*y' - --
David_ H. Ready
lame.
try Clerk �i _...._ _
tle: City Manager
YAMAHA MOTOR CORPORATION, U.S.A.
COMMERCIAL CUSTOMER FINANCE
6555 Katella Avenue,Cypress, CA 90630
(800)551-2994, Fax(714)761-7363
E-MAIL: Donna_Hennessy@yamaha-motor.com
AME OF IN URANCE AGE T: May 09,2014
ADDRESS:
Please Reference our Quote# 108898
PHONE: O• r7
0
RE: TAHQUITZ CREEK GOLF RESORT *Customer)Account#
The Customer has leased or will be leasing equipment from Yamaha.
The Customer is required to provide Yamaha with the following insurance coverage:
"All Risk" Property insurance covering the property owned by or in which Yamaha has a security interest, in an
amount not less than the full replacement cost of the property,with Yamaha named as LOSS PAYEE.
Public Liability Insurance naming Yamaha as an ADDITIONAL INSURED with the proceeds to be payable first
on the Behalf of Yamaha to the extent of its liability, if any.The amount of the Public Liability Insurance shall
not be less than$1,000,000.00 combined single limit.
Each policy shall provide that (i) Yamaha will be given not less than thirty(30)days prior written notice of cancellation
or non-renewal,(fi)it is primary Insurance and any other insurance covering Yamaha shall be secondary or excess of the
policy and(III)in no event shall the policy be invalidated as against Yamaha or its assigns for any violation of any term
of the policy or the Customer's application therefore.
A Certificate evidencing such coverage should be mailed to Yamaha at the following address.
Yamaha Motor Corporation,U.S.A.
Attn: Commercial Customer Finance
6555 Katella Ave APPROVED BY CITY COUNCIL
Cypress,CA 911630
Your Prompt attention will be appreciated. Very Truly Yours,
Equipment Covered:
1 YT1A GOLF CAR 29][T_.Y— Ft-LM SPRINGS.
(Name of Debtor/Le
By:
Equipment Location: (Signature of Au car}
1885 GOLF CLUB DR.
PALM SPRINGS CA90630 Title: ..David H. Ready, City Man
ATTEST:
ji Clerk
� � �
YAMAHA MOTOR CORPORATION, U.S.A.
COMMERCIAL CUSTOMER FINANCE
6555 Katella Avenue, Cypress, CA 90630
(800)551-2994, Fax(714)761-7363
E-MAIL: Donna_Hennessy@yamaha-motor.com
AME F INSURANCE AGENT, May 09,2014
&Za,A Py
ADDRESS: P• n,. �`� {L
Please Reference our Quote# 108899
PHONE: Ala r,
FAX: �IIrJ VO - C1 O
RE: TAHOUITZ CREEK GOLF RESORT (Customer)Account 9
The Customer has leased or will be leasing equipment from Yamaha.
The Customer is required to provide Yamaha with the following insurance coverage:
"All Risk" Property Insurance covering the property owned by or in which Yamaha has a security interest, in an
amount not less than the full replacement cost of the property,with Yamaha named as LOSS PAYEE.
Public Liability Insurance naming Yamaha as an ADDITIONAL INSURED with the proceeds to be payable first
on the Behalf of Yamaha to the extent of its liability, if any.The amount of the Public Liability Insurance shall
not be less than$1,000,000.D0 combined single limit
Each policy shall provide that (i) Yamaha will be given not less than thirty(30)days prior mitten notice of cancellation
or non-renewal,(ii)it is primary insurance and any other insurance covering Yamaha shall be secondary or excess of the
policy and(iii)in no event shall the policy be invalidated as against Yamaha or its assigns for any violation of any term
of the policy or the Customer's application therefore.
A Certificate evidencing such coverage should be mailed to Yamaha at the following address.
Yamaha Motor Corporation,U.S.A.
Attn: Commercial Customer Finance
6555 Katella Ave
Cypress, CA 90630 APPROVED BY CITY COUNCIL
Your Prompt attention will be appreciated. Very Truly Yours,
Equipment Covered:
1 YDREFW4P CITY OF PALM SPRINGS
(Name of Debtor/Lessee)
Equipment Location: (Signature of Authorized O(Signature of Authorized ce�
1885 GOLF CLUB DR. David H. Ready, City Manag
PALM_SPRINGS,CA90630
ATTEST:
ity Clerk