HomeMy WebLinkAboutCORRESPONDENCE - LEASE PURCHASE AGREEMENT - NICK DAVIDSON°City of Fort C011in5`10/15/02 2:55 sPAGE 2/2 RightFA%
Amendment and additions to
Non -maintenance Lease Agreements
for Vehicles Leased by the City of Fort Collins
(Lessor) Nick Davidson, Inc., 1604 N. Lincoln, Loveland, CO 80538
(Lessee) City of Fort Collins, 835 Wood St., Fort Collins, CO BD521
Amendment to paragraph 31 (b) as follows:
Premature Termination Liability - Closed -end Lease: In the event of premature termination
of a closed -end lease because the leased vehicle is no longer suitable for intended operations
(police undercover work), the lessor and lessee shall negotiate a lease on a similar replacement
vehicle. The original vehicle shall be sold in a commercially reasonable manner acceptable to
both lessor and lessee. Lessee liability shall be limited to actual losses and reasonable costs
incurred by the lessor in terminating the first lease and beginning the second. In the event the
lessee elects not to obtain a replacement vehicle then the terms of the original paragraph 31 (b)
applies.
Addition to above lease agreement:
Lessee reasonably believes that itwill have a need for the Equipment for the duration of this
Lease. Lessee will seek funding for this lease each year as part of its Budget process. If rent
needed to continue the leasing of the Equipment for any ensuring Renewal Term is not
appropriated for such purpose, Lessee may terminate this Lease at the end of the Original Term
or Renewal Term then in effect without penalty.
Lessee will notify Lessor at least thirty (30) days prior to the expiration of the Original or any
Renewal Term if sums are not available for the payments required under this lease by reason of
non -appropriation or non -availability as set forth above.
Lessor and Lessee understand and intend that the obligation of Lessee to pay rent under the
Lease shall constitute only a current expense of Lessee and shall not in any way be construed
to be a direct or indirect debt or a multiple fiscal year financial obligation of Lessee in
contravention of any applicable constitutional chart or statutory requirements conceming the
creation of indebtedness by Lessee.
Le . ick Davidson, Inc. Lessee: City of Fort Collins
G — by
Date: OZZ249
f
NON -MAINTENANCE LEASE AGREEMENT
1foo,
ag(e. to
address is
am
address I.
who.
and Losan Imnning all uMereigned lase"e, lohdy and som aly) agrees to Was from L"ur, subject to the terms vet font belowand upon the revere side General,
the lowing described! motor vahble, aeazhmemv and anessories, comery and acceptance ofwhich is hereby w1nowledged in gootl order by Lea.e, for a term of
months, commencing on the dale of a"Nion of this lase as shown below.
Hb-flnmfjorr
Ynr Mab Mo4N kr VehiNe 16MIffeNin Mo.
I -
sects as altlbinN pulpmeM:
VEHICLE USE: Lue. mot"emethauhi$leas entered into Drimariy tot TYPE OF LEI:Relerlo iERMINATI0N80EFAULTPrwiebnt an reverse aide
(checM onel OPenonal, lamiy, MuaehoMBuainesa or mmmercialun (checkane)'jl Closed -End; ❑Open -End
or "ncuhur...;
LESSEE LIABILITY DISCLOSURE: (Must be cOmpletsd It this Is an open-end lease)
I. ORIGINAL VALUE OF VEHICLE ................... i $
.... ..................reundO..-...................................................................
2. CASH GOWN PAYMENT CredXetl Apilnat Original Value lPrepaid Durecktionl....................................... ...._................. 9. NET TM0E-IN CrMrtn Again'Origin)ValueD"unq Deorakticn)(CamplNa br both.,an nd land, )sun)............ S $ 4. NET ORIGINAL VALUE (Item 1 l"ahem-2 and 31_.................................................... .... 1 i
S. AGREED DEPRECIATION VALUE OF VEHICLE at the n-PlNkn of the aryinaly schedubd term N this lave. The agreed duro-
dated wbe ot tMvahble wiB M compared m tM net amount ranbetl from the ale otthe Mumn vahkk at wholesale upon
6.. TOTAL
Wes termination to eotabllah the amount ot Lne" tlNklenw or rebate. The MAXIMUM LESSEE LIABILITY for nfkienoy $MII
M hetabliehn In anomnce with the NORMAL LFASE TERMINATION woWnns on Me LESSEE
romrsNIA. In the foam al default s m
promamro Ines bnniha0 theMAXIMUMLESSEELIABILITYeMgMdeterminedinncarMncawhhtheDEFAULTorPRE-
MATURELEASETERMINATIONprovisbneanthers.....aide........................__........c.d...w. 5 S
- ............... Mi. MOUNTOF FIXED MONTHLY RENTALS FOq THE FULL LEASE iERMF'BE CREDITED AGAINST ORIOmAL VALUE IOe-
GAL D10tALtion ImsRIa FIFIMED MMONfHLY RIEMAL, NOT TO BE CREUI7ED AfAWET g1IGS14L VAL1E11Yn 1ANs km 6)........6151 S f 1p�
SUMMARY OF MONTHLY CHARGES Total of MonUN Monthly
Ching jar Lf T Chaves,
1. FIXED MONTHLY RENTAL CHARGES
j45OA .... lA S.-6n 'C7 690
1 r
1. SALES OR USE TAX ........ .... ......................
.. .. SAS 6 /. BODILY IWUgYANO PROPENTY DAMAGE INSURANCE CHARGES m
ig.OTHERPHYIN AL R ES
INGribe) CHARGES (Collisian and Cpmprehensrve) ' 1M $
9 1
11.OTHEL. AG
( 0 1 LY (describe) 11A $ ID N
B.TOTAI MONTHLY RENTAL PAYMENT (sum at lmmsl &910 and li)
CASH DUE UPON DELIVERY Canons
Uo DNN
13.TOTALMONEAS RENTAL Y:10$T(For 1st march-Sameu Item l2)..... ,......_................................................................................iS S
11AEPOSUB: LEASE SECURITY: 14A3_;INSURANCE:14B5_L..............................._......._....................._..................... 14 S + 1f.IMTMLTITLE.LICENSE. AND REGISTMTION FEES............................................................................................__......,...........................15 S
7I.CASH DOWN PAYMENT (it airy —same at Item 2) ................. 16 i
.SALES OR USE TAX IN stied
Cash Down
1t.lOTAI CASH CHARGES DUE UPON I ELMERY (v Payment, of Items 13,14, 15, 11. AM 11j...... ...................................................................11 S
TOTAL LESSEE CHARGES FOR LEASE TERM Charles
for
Ill AMOUNT OF PAYMENTS M BE MADE BY LESSEE (sum of Rams 3,12A, 15, 16. and 17) EXCLUSIVE OF SECURITY DEPOSIT AND ANY TERMINATION LIABILITY OR E(CESS MILEAGE CHARGE WHICH ARE DESCRIBED SEPARATELY
AND SUBSEQUENT LICENSE AND REGUSTRATION FEES WHICH ARE BILLED SEPARATELY ANNUALLY.. .. .............. ....... ...... 11
20.EXCESI MILEAGE CHARGE: This kue grant. the Lessee the right to drive this vehicle brae many as mike during the full term N this Ideas
whhouti"umingadmrgeforuc.uiwmB.1..Intheeven.olwemNuulas oleo inatlonthenumiry mi t the Lae"$ will MamAkd tourNa without mutating
aehargeforueduNemiIssue will be determined by pro -Ming Me mileage al wetl forlhe fn Inteterm aznrdingtothepmeortlonalthefu1111on,ttr�e'resentn
byJM nari=Mhe The Peen Me b ai Prior to Premature numerator.a The Latest list Mlledfgr almoner milanghl a rote of ____f�tL_ coma
pM mile for each tulle driven in ace.. Nthe mileage herein allowed.
INITIAL DESCRIPTION OF INSURANCE COVERAGE OBTAINED BY LESSEE
HERE
L"s" affirms that at his own Mpema Ltuae hoe obkked insurance coverage InWpendeely of the Latin, which meet$ the insurance requirements W
the Los relnaMl,(,) that ee agree to maintain such coverage aa}qe-"'s own espen.fo(the full term Me true. The insurance coverages proWdetl by
the Lenea'e pelt..( -)are a. follows: J�P%%'i�ll
No. 1lnry eM Pmperp Damage•. Conga Umlb r r Policy No.
ColliName of Insurance Carrat er
Nameof Deductible Amt Camprehenslve: Detluctible Ant Innrence Agent:
Name of In.ronn Carrier: Poliw No.
Insurance Agent:
CHARGES FOR INSURANCE COVERAGE WHEN OBTAINED BY LESSOR
INITIAL Less" rusk that the L.....mm m.m.��.. w... _---:-_..__. ...
mOGG nmmm,w—we. which well orwae for the rote..lime. and men„n;hk umn„M.
NON -MAINTENANCE LEASE AGREEMENT
inner too
address Is
and _
address I.
whose
and Leese. (meanitm all i n l,migmd I ... was. jointly and severalty) agrees to lease from Lesser, subject to the terms not forth below and upon the revenue aide final.
the faypwing described motor vehicle, attachments and accessories, delivery and acceptance s which is hereby arknowledged in good order by Lessee, fora term of
_/ c� months, commencing on the doe of execution of this lase as shown below
Car Tracy you Mate Motel Color Vehicle lA,Mllkallan No.
l I lX l
Describe maim Yams all additional equipment:
VEHICLE USE: Lasses reyresents that this isegp entered into primarily tar TYPE OF LEASE: Rorer to TERMI NATION S DEFAULT Prwinonr, on rwnse old.
(check anal O Personal, family, household !(IBusineee or commercialus (check one) IQ Clued -End: 0Open-End
or ask uRural use
LESSEE LIABILITY DISCLOSURE: (Must be completed If this Is an open-end lease)
1. ORIGINALVALUE OF VEHICLE ..... ... .............................. . ....... .. .... ....
1 S yy•
2. CASH DOWN PAYMENT Credited Against Original Viwprepaid Deprecktrm) ..... ..... ....
2 f
a. NET TRADE-IN CndheEAgainst OrkmalValue (PrepaulDamecuoon) (Complete noboth up" and clmedrndIsmail .....
3 s
4. NET ORIGINAL VALUE (Item l lore items 2 also 3) .. ..... .... ..... .,.
4 S
S: AGREED DEPRECIATION VALUE OF VEHICLE m the completion of the originally scheduled term of this lease. The agreed depm-
ckted value of the vehicle will be compared to the not amount rWyeE from the We of (be returned vehicle at wholesale upon
kam termination to establish the amount of LWes deficiency or Teems. The MAXIMUM LESSEE LIABILITY for deficiency shall
be established in accordance with the NORMAL LEASE TERMINATION provisions on the reverse aide. In the went of dsauh or
premmure Imes termination the MAXIMUM LESSEE LABILITY shall he determined in accordance with the DEFAULT or PRE-
MATURE LEASE TERMINATION provision onthe reverse side .............. ......... ........................ .................. .... ......... _......... -...... ......
5 $ 304w,
6. TOTAL AMOUNT OF FIXED MONTHLY RENTALS FOR THE FULL LEASE TERM TO BE CREDITED AGAINST ORIGINAL VALUE (Do-
precktion Included in Fixed Monthly Rental Charges—ltem 4less hem 5)............................................................. b(]
6
61. TOTAL AMOUNT OF FIXED MONTHLY RENTALS NOT TO BE CREDITED AGAINST OR%lr#L VALUE porn A lees he. 6t........6A f
SUMMARY OF MONTHLY CHARGES Total of MemoF�
Chamai rorLmm arm
Mashy
Chaff
T. MONTHLY .. ... ., .... ., 7A p�/XJ
7 OU
USETREN7ALCHARGES
B. SALESORUSE TAX ...PE .. .... ... ... BA a
SALE
e a
..... .... s
DAMAGE INSURANCECHARGESComprehensive).
a. BODILYIN3URVGE
g a
INSURANCE n .
INSURANCECNARGES (Collision and Comprehemsvm) ..... .. ... 11A a
1D S
%OTHERCH CHARGES
11.OTHER CHARGES (describe) um .. .................................................. 12A $ m
12.707AL MONTHLY RENTAL PAYMENT (cum s Items 7, 8, 9, 10, and 11)............................................. 17A i�
12 s
CASH DUE UPON DELIVERY Cash Due
Oman OsIMry
1S.TOTAL MONTHLY RENTAL PAYMENT (For tat momhSame m Item 12) ... ... .....13
i
14.DEPOSITS: LEASE SECURITY: 14A a ;INSURANCE 14Ba - ....14
a
15.I11ITAL TITLE, LICENSE, AND REGISTRATION FEES ............................... .. . .. .....15
a
16.CASH DOWN PAYMENT (if any --same ar hem 2) ... .. .. „ ....16
a
17.SALES OR USE TAX (h levied upon Can Down Payment Trade In or Vehwle) .... .. ....
17 6
1$.TOTAL CASH CHARGES DUE UPON DELIVERY (sum of Items 13,14,15 16 and 17) .... ......................1s
s
TOTAL LESSEE CHARGES FOR LEASE TERM
Cnergm ror
Lama Term
1g.TOTALAMOUNT OF PAYMENTS TO BE MADE BY LESSEE (sum of here 3,12A, 15,16, and 17) EXCLUSIVE OF SECURITY
DEPOSIT AND ANY TERMINATION LABILITY OR EXCESS MILEAGE CHARGE WHICH ARE DESCRIBED SEPARATELY
AND SUBSEQUENT LICENSE AND REGISTRATION FEES WHICH ARE BILLED SEPARATELY ANNUALLY..... . .......... .......
1s
20.EXCESS MILEAGE CHARGE: This Ideas gram, the Lessee the right to drive this vehicle four or any as mils during
the full term of this lease
without incurring a charge far weather mileage. In the went of pmmature kasetermimtion the number of mllesth he town On be enthledto drive without incurring
a chargelors ashre mileage will be dmermined by pro-mi the mileage allowed lot the full lure term according to the proportion of the full lease to re0reunt d
by the number of months the bass wee in sled prior to pronenessterminmlon. The Lessee will W billed for encesake mileage at a mile of
�OTtent,
W mile for each mile current In mssr of the mileage herein allowed. ,. {.
INITIAL DESCRIPTION OF INSURANCE COVERAGE OBTAINED BY LESSEE
HERE
eereln and that Lmseaagnmta maintain elleM1 LeeBN,OWT mpen lorthelY Urea Of AO We. Tilfi insurance LOVmdgee provided by
❑theLLeese rein an that at his own mpenea Lerse hie obtained insurance coverage Indepe or the m the Leswr which memo the assurance cove ages provide set
`CwMn/yei
the Leeue a poliryp) an as hallows:
BedlN Utility aM Primorly Damage: Carol UmM / / Policy No.
Name of Insurance Carrier: Insurance Agent:
Collision: Deductible Amt. Comprehensive: Deductible Amt. Polley No.
Name at Insurance Carrier: Insurance Agent:
CHARGES FOR INSURANCE COVERAGE WHEN OBTAINED BY LESSOR
IXRMI Lane" returns that the Leaver attempt to procure for the Lessee insurance coverage which will provide for the commune Botha and mdudibN amouma