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CHECKING ACCOUNT DEPOSIT
1523 WASHINGTON STREET, BLAIR, NE 68008
Washington 303 SOUTH 13TH STREET, TEKAMAH, NE 68061 CASH
COUNTY BAN f', 101 N 14T.- STREET, FORT CALHOUN, NE 68023
LIST ADDITIONAL CHECKS
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ACCOUNT NUMBER LESS CASH RECEIVED
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All items are received by this bank subject to the conditions and terms on the signature
cards currently used by this bank. Deposits may not be available for immediate withdrawal.
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Washington County Bank Municipal/Government
PO Box 248, 1523 Washington Street Lease Purchase Agreement
Blair, NE 68008 Lease Number 8
(402) 426-2111
This Lease Purchase Agreement ("Lease") is made and entered
or demand, at the office of Lessor or Assignee, shall commence on
Into on this jg day of March. 2020, by and between Washington
the Start Date unless otherwise provided by Exhibit C, and shall
County Bank, a Nebraska Corporation ("Lessor"), and City of Blair,
continue on the same day of each successive period (as
Nebraska a municipal corporation or political subdivision of the
designated In Exhibit C) for the duration of the Lease Term. Any
State of Nebraska, with its principal address at 218 S. 16'4 Street,
notice, invoice, purchase order, quotation or other form or
Blair, NE 68008 ("Lessee"). Lessor and Lessee agree as follows:
procedure required by Lessee as a condition precedent to
1. LEASE OF EQUIPMENT. Subjectto the terms and conditions
payment of Rental Payments shall be provided to Lessor
hereof, Lessor hereby leases to Lessee and Lessee hereby leases
sufficiently in advance of the Rental Payment date to assure
from Lessor the personal property described in Exhibit A attached
receipt of the Rental Payment by the Rental Payment Date.
hereto and by this reference made a part hereof, together with all
Except as specifically provided in Section 5 hereof, Lessee's
replacement parts, repairs, additions and accessories
obligation and duty to pay the Rental Payments is absolute and
incorporated therein or affixed thereto (collectively,
unconditional and is not subject to any set-off, defense,
"Equipment"). Lessor is neither the manufacturer nor a or
counterclaim or recoupment of any nature whatsoever. Lessee,
merchant of said Equipment, but Lessor has, at the specific
after diligent inquiry, is reasonably certain that funds will be
request of Lessee, agreed to acquire the Equipment and lease the
appropriated to pay all Rental Payments during the Lease Term
same to Lessee upon the terms and conditions set forth in this
and all renewals thereof and hereby covenants that it will perform
Lease,
all lawful acts within its power to obtain, maintain and properly
2. DELIVERY AND ACCEPTANCE, Lessor agrees to purchase the
request and pursue funds from which the Rental Payments may
Equipment from the supplier designated by lessee for the
be paid. The chief executive officer of Lessee shall request the
purchase price negotiated between Lessee and such supplier,
required appropriation from the governing board of Lessee and
lessorshall not be liable for specific performance of this Lease or
exhaust all available administrative reviews and appeals in the
for damages of any nature whatsoever, if any, which Lessee may
event such portion of the fiscal budget is not approved, If any
sustain as the result of any delay or failure to deliver the
Rental Payments or other sums are not paid within five days for
Equipment, Lessee shall cause the Equipment to be delivered to
the due date, Lessee shall pay Lessor, on demand, late charges
the location specified in Exhibit A ("Equipment Location"). Lessee
thereon from the due date until date of receipt by Lessor, at a
shall pay all transportation and other costs Incurred in connection
rate equal to the lesser of (a) two percent per month or (b) the
with the delivery and installation of the Equipment. Any delay in
highest lawful amount.
delivery shall not affect the validity of this Lease. Lessee shall,
S. NONAPPROPRIATION OF FUNDS, If, notwithstanding the
contemporaneously with the delivery of the Equipment, execute
making in good faith of a request by Lessee in accordance with
and deliver to Lessor a delivery and acceptance certificate
appropriate procedures and with the exercise of reasonable care
identical in form and content to Exhibit B attached hereto
and diligence, the legislative body or funding authority which
("Delivery and Acceptance Certificate"). In the event that lessee
approves, authorizes, or appropriates funds to be paid to the
fails to execute and deliver said Delivery and Acceptance
Lessor pursuant to the Lease does not approve funds to be paid to
Certificate, Lessor may, at Lessors sole option, terminate this
Lessor for the Equipment, Lessee may, upon prior written notice
Lease. Lessee hereby authorizes lessor to insert in this Lease the
to Lessor effective 60 days after the giving of such notice or upon
serial number of each item of Equipment.
the exhaustion of the funding authorized for the then current
3, TERM, This Lease shall become effective upon the execution
appropriation period, whichever is later, return the Equipment to
hereof by Lessee and Lessor, The initial term ("Lease Term") of
the Lessor at Lessee's expense and thereupon be released of its
this Lease shall commence on the date of execution of the
obligation to pay all unacrrued Rental Payments to Lessor,
Delivery and Acceptance Certificate (the "Start Date") and
provided: (!)the Equipment is returned to Lessor freight prepaid
continue through the end of Lessee's fiscal year containing the
and insured to any location in the continental United States
State Date. Unless earlier terminated, the Lease Term shall be
designated by lessor in the same condition as first delivered to
automatically renewed for successive appropriations periods of
Lessee, reasonable wear and tear resulting solely from authorized
Lessee. This Lease shall, In any and all events, terminate upon
use thereof excepted, (!!) the foregoing notice states the failure of
payment of all Rental Payments set forth in Exhibit C attached
the legislative body or funding authority to appropriated the
hereto and by this reference made a part hereof,
necessary funds as the reason for cancellation, and (iii) the notice
4. RENT. Lessee agrees to pay Lessor the rental payments for the
is accompanied by payment of all amounts then due to Lessor
Equipment as set forth in Exhibit C (the "Rental Payments"), A
under this Lease. In the event lessee returns the Equipment
portion of each Rental Payment represents the payment of
pursuant to the terms of this Section 5, Lessor shall retain all sums
principal. The Rental Payments shall be payable, without notice
paid hereunder by Lessee. To the extent permitted by law, if the
provisions of this Section S are utilized by Lessee, Lessee agrees
not to purchase, lease or rent equipment performing functions
similar to those performed through the use of the Equipment, or
to obtain from any source the services or Information which the
Equipment was to perform or provide, for the balance of the
appropriation period following Lessee's exercise of its termination
right hereunder. This Section will not be construed so as to
permit Lessee to terminate this Lease in order to acquire any
other equipment or to allocate funds directly or indirectly to
perform essentially the same application for which the Equipment
is intended.
6. REPRESENTATIONS AND WARRANTIES OF LESSEE. Lessee
represents and warrants to Lessor, and so long as this Lease fs in
effect or any part of Lessee's obligations to Lessor remain
unfulfilled, shall continue to warrant at all times, that:
(a) Lessee is a State, a Territory or a possession of the United
States, the District of Columbia, or a political subdivision of any of
the foregoing within the meaning of Section 103(x) of the Internal
Revenue Code of 1986 ("Code"), as amended, and Treasury
Regulations and Rulings related thereto,
(b) If Lessee is incorporated, It is duly organized and existing
under the Constitution and laws ofits jurisdiction of incorporation
and will do or cause to be done all matters necessary to preserve
and maintain such existence in full force and effect.
(c) Lessee has been duly authorized by the Constitution and laws
of its governing jurisdiction and by a resolution of its governing
body (a copy of which resolution is attached hereto) to execute
and deliver this Lease and each Exhibit hereto and any other
document necessary to perform and effectuate Its obligations
hereunder.
(d) Lessee has compiled with all statutes, rules, regulations and
ordinances such as public bidding requirements, if any, as may be
applicable to the transactions contemplated by this Lease to
insure the enforceability of this Lease.
(e) The use of the Equipment is essential to Lessee's proper,
efficient functioning or to the services that Lessee provides to Its
citizens, and Lessee has an immediate need for and expects to
make immediate use of substantially all of the Equipment, which
need Is not temporary or expected to diminish In the foreseeable
future,
(f) The Equipment will be used by Lessee solely for the purpose of
performing one or more governmental or proprietary functions of
Lessee consistent with the permissible scope of Lessee's
authority, and the Equipment will not be used in a trade or
business or any person or entity other than Lessee.
(g) Lessee has funds available to pay the Rental Payments
required until the end of its current appropriation period, and it
will request funds to pay the Rental Payments which accrue in
each appropriation period until the expiration of all renewal Lease
Terms.
(h) This Lease constitutes a valid, legal and binding obligation of
Lessee enforceable against Lessee in accordance with the
respective terms hereof,
(1) This Lease is not an arbitrage bond as defined in Section 148 of
the Code, and the interest portion of the Rental Payments are
exempt from federal income taxes under Section 103(a) of the
Code,
(j) Lessee shall maintain records relating to the Lessor and its
assigns sufficient to comply with the registration requirements of
Section 149(a) of the Code.
(k) Lessee does not reasonably anticipate that it will Issue tax-
exempt obligations (not including "private activity bonds" as
defined In Section 141 of the Code, other than "qualified S01(c)(3)
bonds,") as defined in Section 145 of such Code In an aggregate
amount in excess of $10 million during the calendar year in winch
the term of this Lease commences, and Lessee hereby designates
this Lease as a "qualified tax-exempt obligation" for purposes of
Section 265(b)(3) of the Code.
(1) This Lease is not and shall not become a "private activity bond"
within the meaning of Section 141 of the Code.
(m) Lessee shall comply with all provisions of the Code which are
necessary to preserve the tax exempt status of the interest
component of the Rental Payments, including, without limitation,
the investment and rebate provisions of Section 148 of the Code,
the prohibition against federal guaranties under Section 149(b) of
the Code and the information reporting requirements of Section
149(c) of the Code. Lessee shall provide, on an annual basis, to
Lessor a true and correct copy of Form 8038G, Form 8038GGC, or
any other form promulgated by the Internal Revenue Service
("IRS") which Lessee is required to file in order to satisfy the
reporting requirements of Section 149(c) of the Code.
(n) Lessee will not sell, offer to sell, lease, rent or otherwise
transfer or hypothecate the Equipment or any interest therein.
(o) The Equipment shall not be removed from, or if the
Equipment consists of rolling stock, Its permanent base shall not
be changed from the Equipment Location without Lessor's prior
written consent, which consent shall not be unreasonably
withheld. Lessor shall be entitled to enter upon the Equipment
location or elsewhere during reasonable business hours to inspect
the Equipment or observe its use and operation.
7. LESSEE'S WAIVERS. To the extent permitted by applicable law,
Lessee herby waives any and all rights and remedies conferred
upon a lessee by the Uniform Commercial Code ("UCC") or
otherwise, including, but not limited to, Lessee's rights to: (a)
cancel or terminate this Lease, b) repudiate this Lease, (c) reject
the Equipment, (d) revoke acceptance of the Equipment, (e)
recover damages from Lessor for any breaches of warranty or for
any other reason, (f) a security interest in the Equipment In
Lessee's possession or control for reason, (g) deduct all or any
part of any claimed damages resulting from Lessor's default, If
any, under this Lease, (h) accept partial delivery of the Equipment,
(i) "cover" by making any purchase or lease of or contract to
purchase or lease Equipment in substitution for those due from
Lessor, (j) recover any general, special, incidental or consequential
damages, for any reason whatsoever, and (k) specific
performance, replevin, detinue, sequestration, claim and delivery
or the like for any Equipment identified to this Lease. To the
extent permitted by applicable law, Lessee also waives any rights
conferred by statue or otherwise which may require Lessor to sell,
lease orotherwise use any Equipment in mitigation of Lessor's
damages, or which may otherwise limit or modify any of Lessor's
rights or remedies. Any action by Lessee against Lessor for any
alleged breach of the Leas, including breach of warranty or
indemnity, shall be commenced within one (1) year after any such
cause of action accrues.
g. DISCLAIMER OF WARRANTIES. Lessee acknowledges and
agrees as follows: (a) Lessor is not the manufacture of the
Equipment or the manufacturer's agent or a dealer therein; (b)
the Equipment Is of size, design, capacity, description and
manufacture selected by the Lessee; (c) Lessee Is satisfied that the
Equipment is suitable and fit for Lessee's purposes; (d) Lessor has
not made and does not make any warranty or representation
whatsoever, either express or Implied, as to the fitness, condition,
merchantability, design or operation of the Equipment, its fitness
for any particular purpose, the quality or capacity of the material s
in the Equipment ow workmanship in the Equipment, or any other
representation or warranty whatsoever, and Lessor hereby
specifically disclaims any and all such warranties; (e) The
Equipment is leased on an "As is" Basis, "with all faults'; (f) Lessor
shall not be liable to Lessee for any loss c, damage, or expense of
any kind or nature, direct consequential, or otherwise, caused
directly or indirectly by any Equipment leased hereunder, or by
any delay or failure to provide delivery, installation, maintenance,
repairs, service or adjustment by the supplier. No defect in or
unfitness of the Equipment shall relieve Lessee of the obligation
to pay any Rental Payment or perform any other obligation under
this Lease, Lessor shall have no obligation under this Lease with
respect to the Equipment, including any obligation to Install,
erect, test, adjust, service or maintain the Equipment. Lessor
agrees, as long as no Event of Default (as defined in Section 16
hereof) shall have occurred, Lessor will permit Lessee to enforce
in Lessee's own name, and at Lessee's sole expense, any supplier's
or manufacturer's warranty or agreement relating to the
Equipment, to the extent that such warranty or agreement Is
assignable.
LESEE REPRESENTS THATTHE EQUIPMENT WILL BE USED SOLELY
FORTHE PRUPOSE OF PERFORMING ONE OR MORE
GOVERNMENTAL OR PROPRIETARY FUNCTIONS OF LESSEE
CONSISTENT WITH THE PERMISSIBLE SCOPE OF LESSEE'S
AUTHORITY, LESSEE ACKNOWLEDGES THAT THE
MANUFACTURER, THE SUPPLIER, AND THEIR SALESMEN AND
OTHER REPRESENTATIVES ARE NOT AGENTS OF LESSOR, THAT
THEY ARE NOT AUTHORIZED TO WAIVE OR ALTER ANY TERM OR
PROVISION OF THIS LEASE, AND NO REPRESENTATION MADE BY
THEM SHALL BE BINDING ON LESSOR OR AFFECT LESSEE'S DUTY
TO PAY RENTAL PAYMENT AND PERFORM ITS OTHER
OBLIGATIONS HEREUNDER, Lessee's duty to pay the Rental
Payments as provided In Section 4 shall not be abated, Impaired
or reduced as the result of any claims asserted by Lessee with
respect to the Equipment, including but not limited to Its
condition, quality, workmanship, delivery, shipment, Installation,
defects or otherwise.
9, TITLE. Title to the Equipment is deemed to be in Lessee (1) so
long as no Event of Default, as described in Section 16, has
occurred or (ii) until this Lease has been terminated pursuant to
Sectlon5. Upon the earlier of (1) termination of this Lease in
accordance with Section 5 or (ii) the occurrence of an Event of
Default by Lessee pursuant to Section 16, title to the Equipment
shall immediately vest in Lessor free of any right, title or Interest
of Lessee unless Lessor elects otherwise. As long as title to the
Equipment is deemed vested in Lessee, Lessee shall, at its own
expense, protect and defend the title and keep it free and clear of
all claims and liens except claims and liens created by or arising
through Lessor, The Equipment shall remain personal property
regardless of its attachment to realty, and Lessee agrees to take
such action at its expense as may be necessary to prevent any
third party from acquiring any interest in the Equipment as a
result of Its attachment to realty,
10. SECURITY AGREEMENT. As security for payment and
performance of all of its obligations hereunder, Lessee herby
grants to Lessor a first priority security interest in any and all right,
title and interest of Lessee in this Lease, the Equipment and in all
additions, attachments, accessions, accessories, replacements,
improvements and substitutions thereto, now or hereafter
acquired, together with rents, issues, income, profits and
proceeds thereof, including insurance proceeds. Lessee agrees
that this Lease may be flied as a financing statement, Lessee
further agrees to execute and deliver all financing statements,
certificates of title, opinions of counsel, notices and other
instruments necessary or appropriate to evidence and perfect
such security interest, Lessee agrees that the Uniform
Commercial Code shall apply as between the parties hereto.
Lessee hereby authorizes Lessor to execute and file on behalf of
Lessee, as Lessee's attorney-in-fact, such UCC financing
statements and continuation statements as Lessor deems
necessary to perfect and maintain its security Interest in the
Equipment or this Lease,
11. LIENS AND TAXES. Lessee shall keep the Equipment free and
clear of all levies, liens and encumbrances of any nature
whatsoever, except liens and encumbrances for the benefit of
Lessor. Lessee shall pay, when due, all charges and taxes (federal,
state and local) which may now or hereafter be imposed upon the
ownership, leasing, rental, sale purchase, possession or use of the
Equipment, excluding all taxes on or measured by Lessor's
income,
12. USE; REPAIRS. Lessee shall use the Equipment in a careful and
prudent manner solely for the purposes for which such
Equipment was designed, and Lessee shall comply with all laws,
ordinances, insurance policies, and regulations relating to, and
shall pay all costs, claims, damages, fees and charges arising out of
Lessee's possession, use or maintenance. Lessee, at Its sole cost
and expense, shall maintain the Equipment according to the
manufacturer's recommended guidelines and shall furnish proof
of such maintenance, if requested by Lessor. If the Equipment is
such as is customarily covered by a maintenance agreement,
Lessee shall purchase a maintenance agreement satisfactory to
Lessor and maintain the same if full force and effect for the entire
term of the Lease,
13. ALTERATIONS. Lessee shall not make any alterations,
additions or improvements to the Equipment without Lessor's
prior written consent, and any permitted alteration or attachment
which cannot be readily removed without damaging the
Equipment's originally intended function or value shall become
part of the Equipment.
14, RISK OF LOSS OR DAMAGE. Lessee shall provide, maintain
and pay for physical damage Insurance against the loss, theft or
damage to the Equipment for the full replacement value,
designating Lessor as loss payee. Lessee will also maintain
Insurance against such other risks in such amounts as Lessor may
require. All insurance shall contain the Insurer's agreement to
provide thirty (30) days written notice to Lessor before
cancellation of any policy of Insurance. Lessee shall deliver the
policies or copies thereof or certificates of insurance to Lessor. If
Lessee fails to provide insurance or if any insurance obtained by
the Lessee is cancelled or lapses or Is discontinued far any reason,
Lessor shall be entitled to insure the Equipment with insurance
comparable to the Insurance require hereunder, Lessee shall
promptly notify Lessor in writing of any loss, theft, damage to or
destruction of the Equipment, and Lessee shall (a) promptly place,
at Lessee's expense, the same in good repair, condition and
working order or (b) if the Equipment is damaged or destroyed
beyond repair or lost by theft, immediately pay to Lessor all
remaining indebtedness due and owing pursuant to the Lease,
including but not limited to, the Early Purchase Option Price as set
forth in Exhibit C. if the Equipment is repaired pursuant to (a)
above, this Lease shall continue In full force and effect, and the
Insurance proceeds received by Lessor shall be paid to Lessee at
such time as Lessee has provided satisfactory proof that such
repairs have been completed.
1S. INDEMNITY. Lessee shall Indemnify and hold Lessor harmless
from and against any and all claims, losses liabilities, damages,
judgments, suits and all legal proceedings ofany nature
whatsoever, including, but not limited to, negligence, tort and
strict liability, and any and all costs and expenses In connection
therewith, including attorney fees, arising out ofor In any manner
related to, the manufacture, purchase, financing, ownership,
delivery, rejection, non-delivery, possession, use, transportation,
storage, operation, maintenance, repair, return or other
disposition of the Equipment, or with this lease, including without
limitation, claims for injury to or death of persons and for damage
to property. Lessee shall immediately give Lessor written notice
of any such claim or liability.
16. EVENTS OF DEFAULT. An Event of Default shall occur
hereunder If Lessee or any Guarantor: (a) falls to pay any Rental
Payment or any other payment when due, and such failure
continues for a period of 10 days; or (b) fails to perform or
observe any other covenant, condition or agreement to be
performed or contained herein; or (c) attempts to remove, sell,
transfer, encumber, part with possession, or sublet any item of
Equipment or assign Lessee's rights or duties hereunder or permit
the Equipment or any part thereof to be used by anyone other
than Lessee or Lessee's employees and agents; or (d) institutes
insolvency, bankruptcy or reorganization proceedings, or such
proceedings are instituted against Lessee or any Guarantor, or
Lessee or any Guarantor makes a general assignment for the
benefit of, or enters Into any composition or arrangement with
creditors; or (e) shall, at any time, be in default under any other
agreement with Lessor; or (f) shall create, Incur, assume or stiffer
to exist any mortgage, deed of trust, lease or other encumbrance
secured by or relating to the real property upon which the
Equipment is located; or (h) performs or falls to perform any
other act, as a result of which Lessor deems itself insecure or
deems any of its Equipment to be in jeopardy; or (1) suffers an
adverse material change in its financial condition or operations
from the date hereof, and as a result thereof, Lessor deems itself
Insecure; or (j) has made any warranty, representation or
statement which is false in any material respect when made or
furnished. Additionally, an Event of Default shall occur if there Is
a loss, theft, or substantial damage to the Equipment which Is not
fully compensable under any policy of insurance. Lessor's failure
to require strict performance by Lessee of any provision of this
Lease shall not constitute a waiver of Lessor's rights hereunder.
No waiver by Lessor of any breach or default shall constitute a
waiver of any other breach or default by Lessee or a waiver of any
of Lessor's rights hereunder,
in the event that Lessee is not a state or political subdivision
thereof, within the meaning of Section 103(a) of the Code, or if
Lessee, whether by its use of the Equipment or by its actions or
omissions or by any means whatsoever, causes any interest
payments as set forth in Exhibit C to be Included in Lessors gross
income, Lessee agrees to pay to Lessor, its assignees and
participants of Lessor or such assignees, an additional amount
which, together with the amount of Interest to be paid by Lessee
pursuant to the Lease, places Lessor, its assignees and any such
participants, in the same after tax position which they would have
been if such payment had been excluded from the gross income
of Lessor, its assignees or such participants.
17. REMEDIES. Upon the occurrence of any Event of Default,
Lessor may, with or without canceling or terminating this Lease, in
its sole discretion, do any one or more of the following: (a)
accelerate all sums due and owing or to became due and owing
hereunder for the full term of the Lease, Including the Early
Purchase option Price; (b) institute suit against Lessee to enforce
performance by Lessee of the covenants, terms and provisions of
this Lease; (c) require the Lessee to assemble the Equipment to
make the Equipment available to Lessor at a place designated by
Lessor; (d) enter upon any premises where any of the Equipment
is located and repossess any or all such Equipment; € sell the
Equipment at publicor private sale or relet or rent the Equipment;
(f) lease or otherwise dispose of any and all of the Equipment; (g)
recover from Lessee as damages, and not as a penalty, an amount
equal to the sum of (i) any accrued and unpaid Rental Payments
together with interest thereon from the due date of such Rental
Payment(s) at the rate of sixteen percent (16%) per annum; (ii)
the present value of all unaccrued Rental Payments discounted to
presentvalue at a rate of —_°/< per annum, calculated as of the
date of default, together with interest thereon atthe rate of 16%
per annum from the date of default; Iii) all commercially
reasonable costs and expenses incurred by Lessor in connection
with any repossession, recovery, storage, repair, sale, reletting or
other disposition of the Equipment, including reasonable attorney
fees and costs incurred in connection therewith; (iv) all other
sums due and owing, or to become due and owing, pursuant to
this Lease; LESS the amount received by Lessor from the sale,
reletting or rental of the Equipment; (h) exercise any other right
or remedy which may be available to it under any applicable law,
It is agreed by and between Lessor and Lessee that the measure
of damages set forth herein is reasonable in light of the
anticipated damages which Lessor will sustain as the result of
default by Lessee. Lessor may also, upon default by Less, cancel or
terminate this Lease, but a cancellation or termination hereunder
shall occur only upon written notice by Lessor. If any notification
of the Intended sale, lease or other disposition of any of the
Equipment is required by law, such notification shall be deemed
sufficient if the same is mailed to Lessee five (5) days prior to such
Intended sale, leasing or other disposition. The exercise of any
remedy granted herein shall not constitute an election of
remedies, and all remedies set forth herein are cumulative and
are in addition to any other remedy available to Lessor at law or in
equity.
18. EARLY PURCHASE OPTION, Lessee may, upon sixty (60) days
prior written notice to Lessor, provided Lessee shall have fully
paid and performed all obligations hereunder, and provided
further, no Event of Default has occurred and is continuing pay to
Lessor the applicable amount set forth on Exhibit C as the Early
Purchase Option Price, whereupon title to the Equipment shall
become unconditionally vested in Lessee, and Lessor shall transfer
any and all of Its right, title and interest in the Equipment to
Lessee "AS IS, WHERE IS", WITHOUT WARRANTY, express or
implied, except that Lessor shall warrant to Lessee that the
Equipment is free and clear of any liens created by Lessor.
19. RETURN OFTHE EQUIPMENT. Upon the expiration or earlier
termination of the Lease, unless all Payments set for in Exhibit C
have been paid, Lessee shall immediately deliver the Equipment
to Lessor In the same condition as when delivered to Lessee,
ordinary wear and tear excepted, at such location within the
continental United States as Lessor shall designate. Lessee shall
pay all transportation and other expenses relating to such
delivery.
20, ASSIGNMENT BY LESSOR. Lessor may assign or transfer this
Lease or Lessor's Interest in the Equipment without notice to
Lessee. Any assignee of this Lessor shall have all of the rights, but
none of the obligations, of Lessor under this Lease, and Lessee
agrees that it will not assert against any assignee of Lessor any
defense, counterclaim, or offset that Lessee may have against
Lessor.
21, NATURE OF AGREEMENT. Lessor and Lessee agree that it is
their Intention that, for federal income tax purposes, the interest
of Lessor in the Equipment is as a secured party and the interest
of Lessee is as a debtor, and that Lessor neither has nor shall have
any equity in the Equipment. It is the agreement of Lessor and
Lessee that the aggregate Rental Payments provided for
hereunder constitute the purchase price of the Equipment
together with Interest on the unamortized amount thereof over
the Lease Term, that each Rental Payment constitutes principal
and interest, In accordance with the Schedule of Rental Payments
set forth in Exhibit C, which aggregate amount fully amortizes the
purchase price of the Equipment, together with interest, over the
the Lease Term, and that upon the due and punctual payment and
performance of the Rental Payments and other amounts and
obligations under this Lease, title to the Equipment shall vest
permanently in Lessee as provided in this Lease, free and clear of
any claim or lien of lessor therein,
22. LESSOR'S RIGHT To PERFORM. if Lessee fails to make any
payment or to perform any obligation imposed on Lessee by this
Lease, Lessor may make any such payment or perform any such
obligation. The amount of any such payment and Lessor's costs
and expenses, including, without limitation, reasonable attorney
fees and expenses, shall immediately be payable by Lessee to
Lessor upon demand. Such sums shall bear interest at a rate
equal to the lessor of (a) 2% per month or (b) the highest lawful
amount, from the date of payment by Lessor,
23, USURY. Notwithstanding any provision contained herein to
the contrary, If this Lease should be construed, for any reason, to
be subject to the usury laws of any state, In no event shall interest
accrue or be payable In excess of the highest lawful rate.
24. SECTION HEADINGS. All section headings contained herein
are for convenience of reference only and are not intended to
define or limit the scope of any provision of this Lease.
25, GOVERNING LAW, This Lease shall be governed by the
provisions hereof and by the laws of the state in which the Lessee
is located.
26, FURTHER ASSURANCES, Lessee shall deliver to Lessor; (i) an
opinion of counsel in substantially the form of Exhibit D attached
hereto or as Lessor may otherwise request; (ii) a certification of
minutes in substantially the form of Exhibit E attached hereto; and
(iii) a certificate of essential use and appropriation in substantially
the form of Exhibit F attached hereto. Lessee shall also execute or
provide, as requested by Lessor, any other documents or
information which may be reasonably necessary to complete the
transaction contemplated by this Lease,
27, ENTIRE AGREEMENT, This Lease, together with the Exhibits
attached hereto and made a part hereof, and any other
documents or instruments executed by Lessee and Lessor in
connection herewith, constitute the entire agreement between
the parties with respect to the transactions contemplated hereby.
This Lease may not be amended except by written agreement
executed by lessor and Lessee,
28. SEVERABILITY, Whenever possible, each provision of this
Lease shall be Interpreted In such manner as to be effective and
valid, but if any provision of this Lease shall be held to be
prohibited or invalid, such provision shall be ineffective only to
the extent of such prohibition or Invalidity, without invalidating
the remainder of such provision or the remaining provisions of
this lease.
29. NON -CANCELLABLE LEASE. This Lease cannot be cancelled or
terminated except as expressly provided herein.
30. SURVIVAL OF INDEMNITIES. Lessee's obligations under
Sections 11 and 15 shall survive termination of this Lease.
LESSOR;
Washington County Rank
By:
Title:
Gf
Date:
LESSEE: Cit of it ebr ka
By: lr
Title;,__ I��c3iY�tiltSf�
)
Date:
EXHIBIT A TO
MUNICIPAL/GOVERNMENT LEASE PURCHASE AGREEMENT
DESCRIPTION OF EQUIPMENT
DESCRIPTION OF EQUIPMENT
Quantity
Description of Leased Equipment (Make, Kind, Mode[ Number, Serial Number, other pertinent identification)
1
Pelican Street Sweeper, SN# 1
LOCATION
OF EQUIPMENT
Street Address:
341 Grant Street
City:
Blair
County:
Washington
State:
Nebraska
Zip Code:
68008
Certification:
Lessee hereby certifies that the description of the property set forth about constitutes an accurate
account of Equipment as referred to in the Lease.
Date: 3-19-2020 CitV of Blair, NE
Lessee: (Municipal/Governmental Entity)
By:
Rod Storm, City Administrator
for the City of Blair, NE
Knr 9.0" ct'iej
T mtnlSGt(
(Printed Name and Title)
EXHIBIT B TO
MUNICIPAL/GOVERNMENT LEASE PURCHASE AGREEMENT
DELIVERY AND ACCEPTANCE CERTIFICATE
TO: Washington County Bank
RE: Municipal/Government Lease Purchase Agreement No. 8, dated March 19, 2020
Reference is made to the Municipal/Governmental Lease Purchase Agreement ("Lease") between the
undersigned ("Lessee") and Diversified Financial Services, LLC ("Lessor") and to the Equipment described
therein. We confirm each of the following to you:
1. All of the Equipment, as such term is defined in the Lease, has been delivered to and received by
the Lessee at the Equipment Location specified in Exhibit A to the Lease, and all installation or
other work necessary prior to the use thereof has be completed.
2. Lessee has duly examined, inspected and tested the Equipment, and the Equipment was found
to be in good operating order and condition.
3. Lessee acknowledges that the Equipment complies with all terms of the Lease, and Lessee
hereby unconditionally accepts the Equipment.
4. Lessor is hereby authorized to pay for the Equipment in accordance with the terms of any
purchase orders relating to the same.
5. If the Equipment fails to perform as expected or represented, Lessee will continue to satisfy the
Lease in all respects and continue to pay all Rental Payments and other payments required
thereunder in the normal course of business.
6. Lessee acknowledges that Lessor is neither the vendor nor manufacturer or distributor of the
Equipment, and the Lessor has no control over, knowledge of or familiarity with the condition,
capacity, functionality or other characteristics of the Equipment.
7. The serial number for each items of Equipment which is set forth on Exhibit A to the Lease is
correct.
Date: 3-19-2020 Cit,Lf Blair, Nebraska
Witness:
Lessee: (Muni ipal/Governmental Entity)
By:
Rod Storm
(Printed Name and Title)
DK
MUNICIPAL / GOVERNMENTAL PURCHASE AGREEMENT
OPINION OF LESSEE'S COUNSEL
March 31, 2020
Washington County Bank
1523 Washington Street
PO Box 248
Blair, NE 68008
Re: Municipal / Governmental Lease Purchase Agreement No. 8
(hereinafter referred to as "Lease")
To whom it may concern:
As the Blair City Attorney for the City of Blair, (hereinafter referred to as
"Lessee."), I hereby affirm the following:
1. I examined the duly executed originals of the Lease, City Council
Minutes, and other necessary documents to effectuate the following
opinion that:
a. Lessee is a duly created and validly existing political subdivision
of the State of Nebraska ("State") and pursuant to the applicable
Nebraska Revised Statutes and Nebraska Constitution, has the
power and authority to enter into the transactions contemplated
by the Lease and to carry out its obligations thereunder.
b. The execution, delivery, and performance by the Lessee of the
Lease has been duly authorized by the Blair City Council and
the Mayor of Blair.
c. The Lease is a governmental purpose obligation and does not
constitute a debt of Lessee under the Nebraska Revised
Statutes.
d. The signature of the official of the Lessee, which appears on the
lease and on the attached documents is true and genuine. I
know him/her to hold the office set forth below his/her name.
Such official is duly authorized to execute the Lease and the
attached documents.
e. There are no actions, suits, or proceedings pending or, to the
knowledge of the Lessee, threatened against or affecting the
Lessee in any court or before any governmental agency or
commission, board, or authority, which, if adversely
determined, will have a material adverse effect on the ability of
the Lessee to perform its obligations under the Lease.
f. The Lease is in accordance with and does not violate the usury
statutes in Nebraska.
g. The Equipment noted in the Lease constitutes personal property
and when subjected to the use by the Lessee, will not be or
become a fixture under Nebraska law.
EXHIBIT E TO
MUNICIPAL/GOVERNMENT LEASE PURCHASE AGREEMENT
CERTIFICATION OF MINUTES
The undersigned hereby certifies as follows:
1. 1 am the duly elected or appointed and acting recording officer of City of Blair, NE
("Lessee"), a political subdivision or agency duly organized and existing under the laws of the State of
Nebraska.
2. The following individuals constitute the duly elected or appointed members of the governing
Body of the Lessee as of the date hereof: March 19`h, 2020.
3. On the 26`h day of November, 2019 , at 7 o'clock p.m., a meeting of the governing
Body of Lessee was held at Blair City Council Chambers pursuant to call and notice of such meeting as
required by law.
4, The following resolutions were adopted at said meeting, said resolutions were adopted at said
meeting, said resolutions were adopted in accordance with and pursuant to the governing statutes,
regulations and codes of Lessee, and said resolutions have not been amended or rescinded and are in
full force and effect on this date.
RESOLVED, by the governing body of Lessee as follows:
Section 1. Recitals and Authorization. It is hereby determined that it is necessary and desirable
and in the best interests of Lessee to enter into that certain Municipal/Governmental Lease Purchase
Agreement No. 8 dated March 19, 2020, between Lessee and Diversified Financial Services,
LLC, as Lessor (the "Lease") for the purposes therein specified, and that Rod Strom is hereby authorized
on behalf of Lessee to enter into the Lease and the execution and delivery of the Lease by him/her is
hereby approved, ratified and confirmed,.
Section 2. Designation as Qualified Tax -Exempt Obligation. Pursuant to Section 265 (b)(3)(B)(ii) of
the Internal Revenue Code of 1986 (the "Code"), Lessee hereby specifically designates the Lease as a
"qualified tax-exempt obligation" for purposes of Section 265 (b)(3) of the Code. In compliance with
Section (b)(3)(D) of the Code, Lessee hereby represents that it will not designate more than $10million
of obligations issued by Lessee in the calendar year during which the Lease is executed and delivered as
such "qualified tax-exempt obligations."
Section 3. Issuance Limitation. In compliance with the requirements of Section 265(b)(3)(C) of the
Code, Lessee hereby represents that it (including any "subordinate entities" within the meaning of
Section 265 (b)(3)€ of the Code) reasonably anticipates that it will not issue in the calendar year during
which the Lease is executed and delivered, obligations bearing interest exempt from federal income
taxation under Section 103 of the Code (other than "private activity bonds" as defined in Section 141 of
the Code) in the amount greater than $10 million.
IN THE WITNESS WHEREOF, I have duly executed this Certification of Minutes, this 191h day of March,
2020.
Brenda Wheeler, City Clerk
bfcr�& c
(Printed Name and Title)
City of Blair Regular Council Meeting
November 26, 2019
The Mayor and City Council met in regular session in the City Council Chambers on November
26, 2019 at 7:00 PM. The following were present: Brad Andersen, Kevin Hall, Chris Jensen, Mindy Rump,
Marty Shepard, Jon Stewart, Kevin Willis, Frank Wolff. Also present were: City Administrator Storm,
Assistant City Administrator Green, Director of Public Works Schoemaker and Chief Lager.
The Mayor publicly stated to all in attendance that a current copy of the Nebraska Open Meetings
Act was available for review and indicated the location of such copy posted in the room where the meeting
was being held. Notice of the meeting was given in advance thereof by publication in the Enterprise or
the Pilot -Tribune as shown by the affidavit of publication filed in the City Clerk's office. Notice of the
meeting was simultaneously given to the Mayor and all members of the City Council, and a copy of their
acknowledgement of receipt of notice and the agenda is filed in the City Clerk's office. Availability of the
agenda was communicated in the advance notice and in the notice to the Mayor and Council of this
meeting. All proceedings hereafter shown were taken while the convened meeting was open to the
attendance of the public.
Mayor Hansen called to order and made introductions at 7:00 p.m. followed by the Pledge of
Allegiance.
Mayor Hansen presented a plaque to Ed Shada, Angels Share, and the City of Blair for "Project of
the Year" for the Transformation Hill Project. The award was given on by the American Water Works
i
Association for the collaborated effort given by the City, Ed Shada and John Eriksen for this project. Ed
Shada thanked the city for all they have done to help further his vision of the former Dana Campus.
Agenda Item #4 — Consent Agenda approved the following: 46) Approval of Minutes of the
November 12, 2419 meeting, 4b) Clerk report of Mayoral Action of November 12, 2019 meeting, 4c)City
Department reports for October for the Blair Public Library and Technology Center and the Blair Police
Department and 4d)Approve 2020 Swimming Pool painting specifications and authorization to go out for
bid. Motion by Brad Andersen, second by Mindy Rump to approve the Consent Agenda as presented.
Council members voted as follows: Brad Andersen: Yea, Kevin Hall: Yea, Chris Jensen: Absent, Mindy
Rump: Yea, Marty Shepard: Yea, Jon Stewart: Yea, Kevin Willis: Yea, Frank Wolff. Yea. All Council
members voted: Yea: 7, Nay: 0, Absent: 1. Mayor Hansen declared the motion carried.
Agenda Item #5 — Ken Halvorsen of the Nebraska Rural Water Association reported on the Blair
Water System. He presented the Council with a check list outlining the financial and overall health of the
water system. This is a requirement under the State Revolving Loan Funding (SRF) program and must be
presented to the governing body. This checklist covers the water line for the pump station project. The
purpose is to confirm the entity that applied for the loan will have the capacity to repay the loan in the
future. He reviewed the checklist stating many communities have numerous "no" responses but in Blair
there are not any no responses which is good. There will be a follow up assessment approximately six (6)
months after the project is completed to make sure the money spent did what it was supposed to do. Motion
by Brad Andersen, second by Frank Wolff to receive and place on file the initial financial managerial
water system assessment as presented. Council members voted as follows: Brad Andersen: Yea, Kevin
Hall: Yea, Chris Jensen: Yea, Mindy Rump: Yea, Marty Shepard: Yea, Jon Stewart: Yea, Kevin Willis:
Council Meeting November 26, 2019
Yea, Frank Wolff: Yea. All Council members voted: Yea: 8, Nay: 0. Mayor Hansen declared the motion
carried.
Agenda Item #6 - Motion by Mindy Rump, second by Frank Wolff to receive and place on file
the bid for the purchase of a new street sweeper. Council members voted as follows; Brad Andersen: Yea,
Kevin Hall: Yea, Chris Jensen: Yea, Mindy Rump: Yea, Marty Shepard: Yea, Jon Stewart: Yea, Kevin
Willis: Yea, Frank Wolff Yea. All Council members voted: Yea: '8, Nay: 0. Mayor Hansen declared the
motion carried. Director of Public Works Schoemaker stated the proposed for a new Pelican Street
Sweeper is exactly like the unit the city currently has in its inventory. The bid is from the Minnesota DOT
state bid. The bid for the sweeper is $216,412 with a trade-in allowance for $32,350 for final price of
$184,062. As was discussed during the budget process, Staff would look for different financing terms for
the purchase of the unit. Proposals for financing terms were received from the manufacturer and
Washington County Bank. They are very similar, but Washington County Bank is just a little lower. The
first payment will be due upon delivery next March in the amount of $26,046 with seven annual payment
of $26,046 thereafter. The unit is a 10 to 12 -year unit. Transportation recommended approval. Motion
by Brad Andersen, second by Marty Shepard to award the bid for a new street sweeper to MacQueen
Equipment in the amount of $184,062.00 and financing for a lease purchase with Washington County
Bank. Council members voted as follows: Brad Andersen: Yea, Kevin Hall: Yea, Chris Jensen: Yea,
Mindy Rump: Yea, Marty Shepard: Yea, Jon Stewart: Yea, Kevin Willis: Yea, Frank Wolff: Yea. All
Council members voted: Yea: 8, Nay: 0. Mayor Hansen declared the motion carried.
Agenda Item #7 — Director of Public Works' Schoemaker presented the annual maintenance
agreement with the Nebraska Department of Transportation for 2020. This agreement covers NDOT
portions of the highways in Blair that are their responsibility for maintenance. This is for the center two
lanes snow and ice control, pothole patching and other repairs. No credit is given for the outside lanes.
Those are the responsibility of the city. The annual payment to the city is $42,756, which is the same as
last year. It can be expensive to maintain the state's highway, but his is our only option to recoup some
money for our services. Also required is a certification stating we have complied with the maintenance
agreement for this year. Transportation Committee recommended approval. Motion by Frank Wolff,
second by Mindy Rump to approve the annual maintenance agreement with the State of Nebraska.
Council members voted as follows: Brad Andersen: Yea, Kevin Hall: Yea, Chris Jensen: Yea, Mindy
Rump: Yea, Marty Shepard: Yea, Jon Stewart: Yea, Kevin Willis: Yea, Frank Wolff: Yea. All Council
members voted: Yea: 8, Nay: 0. Mayor Hansen declared the motion carried.
Agenda Item #8 — Motion by Brad Andersen, second by Kevin Willis to recess as a Council and
meet as a Board of Equalization 7:20 p.m. Council members voted as follows: Brad Andersen: Yea, Kevin
Hall: Yea, Chris Jensen: Yea, Mindy Rump: Yea, Marty Shepard: Yea, Jon Stewart: Yea, Kevin Willis:
Yea, Frank Wolff: Yea. All Council members voted: Yea: 8, Nay: 0. Mayor Hansen declared the motion
carried. City Administrator Storm stated this property was cleaned up and mowed. The property owner
has been billed and this public hearing is to allow the property owner to voice their concerns against the
assessment if they believe it has been completed in error. These assessments allow the city to recoup the
cost of maintenance on vacant properties and assists in keeping neighborhood cleaned up. Council
member Andersen introduced Resolution No. 2019-36 levying special assessments against 1526 Grant St.
for mowing. Motion by Brad Andersen, second by Mindy Rump to adopt Resolution No. 2019-36 as
presented. Council members voted as follows: Brad Andersen: Yea, Kevin Hall: Yea, Chris Jensen: Yea,
Mindy Rump: Yea, Marty Shepard: Yea, Jon Stewart: Yea, Kevin Willis: Yea, Frank Wolff: Yea. All
Council members voted: Yea: 8, Nay: 0. Mayor Hansen declared the motion carried. Motion by Brad
Council Meeting November 26, 2019 2
Andersen, second by Chris Jensen to adjourn. as Board of Equalization and reconvene as a Council to
proceed with the meeting at 7:24 p.m. Council members voted as follows: Brad Andersen: Yea, Kevin
Hall: Yea, Chris Jensen: Yea, Mindy Rump: Yea, Marty Shepard: Nay, Jon Stewart: Yea, Kevin Willis:
Yea, Frank Wolff. Yea. All Council members voted: Yea: 7, Nay: 1. Mayor Hansen declared the motion
carried.
Agenda Item #9 — Director of Public Works Schoemaker stated the proposed resolution would
allow the city to levy special assessments again the improvements made in Northern View Subdivision.
The improvements are completed, and the engineer has certified all the costs in the project. The official
cost of each lot is $48,000, but due to the upgrade to the storm water management plan the city required
and will pay for, the assessed amount on each lot will be $38,000. $10,000 per lot will be paid by the city
for the storm water management upgrade. Council member Wolff introduced Resolution 2019-37 setting
the date for the Board of Equalization to levy special assessments against Paving District No.,
197, Sanitary
Sewer Extension District No. 75 and Water Extension District No. 53 all in Northern View Subdivision.
Motion by Frank Wolff, second by Brad Andersen to adopt Resolution No. 2019-37 as presented. Council
members voted as follows: Brad Andersen: Yea, Kevin Hall: Yea, Chris Jensen: Yea, Mindy Rump: Yea,
Marty Shepard: Yea, Jon Stewart: Yea, Kevin Willis: Yea, Frank Wolff: Yea. All Council members voted:
Yea: 8, Nay: 0. Mayor Hansen declared the motion carried.
Agenda Item #10 — Assistant City Administrator Green led a discussion regarding legislative
changes to the Nebraska state building code regarding radon resistant new construction, energy code and
building code requirements. Green stated Staff wanted to inform the Mayor and City Council regarding
state mandates that are being forced upon the city regarding new home construction that deals with three
specific areas: 1) radon, 2) Nebraska Energy Code and 3) Building Code that will all have to be adopted
' and implemented by next summer. Phil reviewed the steps that would be required by builders to install a
radon system with construction of a new home. In the past, Blair has pulled this requirement out of the
building code but that no longer will be the case. This requirement should have been in force since
September 1. Since we did not meet that date, it will need to be rolled out with the new building code. We
will also be coordinating with the Nebraska Building Code Officials to see if all the other communities
are on the same page and who is the enforcer because we are not if the builder is required to enforce this
system or is it the responsibility of the city. We also do not want to be the leader on enforcement if no
other communities are enforcing it. It is also unclear if the city will be required to inspect these systems
and if so, our building fees will need to be increased. The state is also mandating that everyone move to
the 2018 energy code and building code. It is a huge challenge to try to understand all the changes in the
new codes. We can make modifications to the code but must prove what we are doing is better than the
code. We will begin to do the research on the 2018 codes and will implement them the same as what other
jurisdictions.
Agenda Item #I1 — City Administrator Storm stated Staff felt you as a council needed to know
these new components of the building and energy code. The cost of housing is going to continue to go up
drastically and make it harder and harder to build workforce housing. If these codes are not enforced, there
could be some liability as leaders for not enforcing these codes even if it is going to affect the cost of
future housing. Council member Rump stated the bracelets in honor of the 150 -year celebration handed
out at the Sugarplum Festival were a huge hit and thanked those for helping.
Agenda Item #12 — Motion by Mindy Rump, second by Marty Shepard to adjourn the meeting
7:49 p.m. Council members voted as follows: Brad Andersen: Yea, Kevin Hall: Yea, Chris Jensen: Yea,
Council Meeting November 26, 2019 3
Mindy Rump: Yea, Marty Shepard: Yea, Jon Stewart: Yea, Kevin Willis: Yea, Frank Wolff- Yea. All
Council members voted: Yea: 8, Nay: 0. Mayor Hansen declared the motion carried.
C� 4---, —
Richard
Hansen, Mayor
Attest:
Brenda Wheeler, City Cleric
Seal
Council Meeting November 26, 2019 4
Brenda Wheeler
el
From: Rodney Storm
Sent: Wednesday, March 18, 2020 3:48 PM
To: Brenda Wheeler; Allen Schoemaker; Natalia Springhower
Subject: FW: Your scan (Scan to My Email)
Attachments: scan_schatt_2020-03-18-15-21-12.pdf
FYI — We will pay when we receive the sweeper tomorrow and get things signed asap.
From: Chatt, Sarah <schatt@washingtoncountybanl<.com>
Sent: Wednesday, March 18, 2020 3:33 PM
To: Rodney Storm <rstorm@blairnebraska.org>
Cc: Ladwig, Dave<dladwig@washingtoncountybanl<.com>; Wheeldon, Cheryl
<cwheeldon@washingtoncountybank.com>; Leggott, Chad<cleggott@washingtoncountybank.com>
Subject.: FW: Your scan (Scan to My Email)
Rod,
Attached please find the lease purchase documents for the street sweeper. They are dated for tomorrow.
Lease Purchase Agreement — needs executed by you as City Administrator
Exhibit A — needs executed by you as City Administrator and the street sweeper model and serial number need added
(please attach the final invoice or bill of sale)
Exhibit B — needs executed by you as City Administrator
Exhibit C — no signatures required, payment schedule based on 7 year payback with 1 upfront payment and 3.55% fixed
rate
Exhibit D — needs executed by Desirae Solomon as City Attorney
Exhibit E — needs executed by Brenda Wheeler as City Clerk and please attach resolution and meeting minutes
Exhibit F — needs executed by you as City Administrator
Verification of Insurance Information — needs filled out by someone in your office and please attach insurance binder or
policy on street sweeper
Please let me know if you have any questions or concerns. You can deliver the executed documents and requested
information to the Blair branch through the drive-thru. Thank youl
Sarah Chaff
Washington County Bank
402.374.2020
From: Chan, Sarah
Sent: Wednesday, March 18, 2020 3:22 PM
To: Chatt, Sarah
Subject: Your scan (Scan to My Email)
1
EXHIBIT E TO
MUNICIPAL/GOVERNMENT LEASE PURCHASE AGREEMENT
CERTIFICATION OF MINUTES
The undersigned hereby certifies as follows:
1. 1 am the duly elected or appointed and acting recording officer of City of Blair, NE
("Lessee"), a political subdivision or agency duly organized and existing under the laws of the State of
Nebraska.
2. The following individuals constitute the duly elected or appointed members of the governing
Body of the Lessee as of the date hereof: March 191h, 2020.
3. On the 26th day of November, 2019 , at 7 o'clock p.m., a meeting of the governing
Body of Lessee was held at Blair City Council Chambers pursuant to call and notice of such meeting as
required by law.
4. The following resolutions were adopted at said meeting, said resolutions were adopted at said
meeting, said resolutions were adopted in accordance with and pursuant to the governing statutes,
regulations and codes of Lessee, and said resolutions have not been amended or rescinded and are in
full force and effect on this date.
RESOLVED , by the governing body of Lessee as follows:
Section 1, Recitals and Authorization. It is hereby determined that it is necessary and desirable
and in the best interests of Lessee to enter into that certain Municipal/Governmental Lease Purchase
Agreement No. S dated March 19, 2020, between Lessee and Diversified Financial Services,
LLC, as Lessor (the "Lease") for the purposes therein specified, and that Rod Strom is hereby authorized
on behalf of Lessee to enter into the Lease and the execution and delivery of the Lease by him/her is
hereby approved, ratified and confirmed,.
Section 2. Designation as Qualified Tax -Exempt Obligation. Pursuant to Section 265 (b)(3)(13)(ii) of
the Internal Revenue Code of 1986 (the "Code"), Lessee hereby specifically designates the Lease as a
"qualified tax-exempt obligation" for purposes of Section 265 (b)(3) of the Code. In compliance with
Section (b)(3)(D) of the Code, Lessee hereby represents that it will not designate more than $10million
of obligations issued by Lessee in the calendar year during which the Lease is executed and delivered as
such "qualified tax-exempt obligations."
Section 3. Issuance Limitation. In compliance with the requirements of Section 265(b)(3)(C) of the
Code, Lessee hereby represents that it (including any "subordinate entities" within the meaning of
Section 265 (b)(3)€ of the Code) reasonably anticipates that it will not issue in the calendar year during
which the Lease is executed and delivered, obligations bearing interest exempt from federal income
taxation under Section 103 of the Code (other than "private activity bonds" as defined in Section 141 of
the Code) in the amount greater than $10 million.
IN THE WITNESS WHEREOF, I have duly executed this Certification of Minutes, this 19th day of March.
2020.
Brenda Wheeler, City Clerk
(Printed Name and Title)
EXHIBIT F TO
MUNICIPAL/GOVERNMENT LEASE PURCHASE AGREEMENT
CERTIFICATE OF ESSENTIAL USE AND
APPROPRIATION
TO: Washington County Bank
RE: Municipal/Government Lease Purchase Agreement No, 8, dated March 19, 2020
Lessee hereby certifies, represents and affirms that the Equipment, as said term is defined in the
above -referenced Municipal/Government Lease Purchase Agreement (the "Lease"), is essential to
Lessee's proper, efficient functioning or to the services that it provides to its citizens.
Lessee further certifies, represents and affirms that it has an immediate need for, and expects to make
immediate use of, substantially all such Equipment, which need is not temporary or expected to
diminish in the foreseeable future. Such Equipment will be used by Lessee only for the purpose of
performing one or more of its governmental or proprietary functions consistent with the permissible
scope of its authority. Specifically, such Equipment was selected by Lessee to be used as follows:
Street Cleaning in the City of Blair.
The estimated useful life of such Equipment based upon manufacturer's representations and our
projected needed is 10-15 years.
Lessee represents that all Rental Payments due on or before the 19th day of March, 2020 have been duly
approved and appropriated and are available as an unexhausted and unencumbered
part of Lessee's current fiscal year budget.
Lessee expects and anticipates that adequate funds will be available for the future Rental Payments due
after the current fiscal year for the following reasons:
To make timely, scheduled payments of the Municipal/Government Lease Purchase
Agreement No. 8 dated March 19, 2020.
IN THE WITNESS WHEREOF, I have set my hand this 191h day of March, 2020.
Date:
Lessee: City of Blair, Nebraska
Rod Storm City Administrator for the
City of Blair, NE
KoS4t
(Printed Name and Title)
CITY OF BLAIR WASHINGTON COUNTY BANK 76-1316 43209
218 S. 16TH STREET BLAIR, NEBRASKA 1049 IL I
BLAIR, NEBRASKA 68008
(402) 426-4191
DATE CHECK NO. AMOUNT
3/2,0/20 43209 **184,062.00
ONE HUNDRED EIGHTY FOUR THOUSAND SIXTY TWO AND 00/14 OLLARS
PAY
TO THE
ORDER MACQUEEN EQUIPMENT
OF .
1125 7TH - ST- E-
ST PAUL, MN 55106`
CITYCLE K- EAS ER
►I'043 2Q9�I®
1:104913160: 0 2 21,12 40,1®
CITY OF BLAIR, NEBRASKA
CUSTOMER # 1808 MACQUEFi.N EQUIPMENT 43209
INVOICE # REFERENCE GL ACCOUNT # NET
E00226 INV 04-024-5403• 184062.00
CHECK DATE 3/20/20
CITY OF FLAIR, NEBRASKA
CUSTOMER #
INVOICE # REFERENCE.
E00226 INV
CHECK DATE: 3/20/20
WLS6111M1 DUGAN PRINTING & PROMOTIONS 402-330.3173
CHECK # 43209 TOTAL: **184,062.00
43209
18.08 MACQUEEN EQUIPMENT
GL ACCOUNT # NET
04-024-5403 18406.2.00
CHECK # 43209 TOTAL: **184;062,00
PRINTED IN U.S.A.
Municipal/Governmental Lease Purchase Agreement
Verification of Insurance Information
Lessee Name: City of Blair, NE Lease Number: 8
Name of Insurance Company: Berkshire Hathaway
Name of Insurance Agency: Hansen Agency
Address of Insurance Agency: 1636 Washington St.
City: Blair
State:
Name of Agent: Richard Hansen
NE
Zip Code;
•:11:
Phone Number of Agent: (402)426-2167
Policy Number: Expiration Date: 11/30/2020
POLICY COVERAGE SUMMARY
Fire & Extended Coverage:
$ See Attached Certificate
Liability - Bodily Injury
$
Liability- Property Damage
$
Deductible
$
Other (Specify)
$
30 -Day Notice of Cancellation............................................................ ................................ _yes X no
Washington County Bank, shown as Loss Payee...............................................................des no
Insurance Certificate to Fallow..........................................................................................des no
Follow-up Date: Information taken by:
EXHIBIT C TO
MUNICIPAL/GOVERNMENT LEASE PURCHASE AGREEMENT
RENTAL PAYMENT SCHEDULE
Rental
Payment
Number
Rental Payment
Due Date
Rental Payment
Amount Credited to
Interest
Amount Credited
to Principal
Early Purchase
Option Price
1
03-19-2020
$25,913.75
$0.00
$25,913.75
**
2
03-19-2021
$25,913.75
$5,614.26
$20,299.49
**
3
03-19-2022
$25,913.75
$4,893.63
$21,020.12
**
4
03-19-2023
$25,913.75
$4,147.42
$21,766.33
**
5
03-19-2024
$25,913.75
$3,383.96
$22,529.79
**
6
03-19-2025
$25,913.75
$2,574.90
$23,338.85
**
7
03-20-2026
$25,913.75
$1,746.38
$24,167.37
**
8
03-20-2027
$25,913.75
$888.43
$25,025.32
**
9
03-20-2027
1.00
$.02
$.98
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
** Early Purchase option Price will be the principal and interest accrued as of the date of
payoff
FiNML
Compounding Period: Exact Days
Nominal Annual Rate: 3.550%
Cash Flow Data - Loans and Payments
1 Loan 03/19/2020 184,062.00 1
2 Payment 03/19/2020 25,913,75 8 Annual 03/19/2027
3 Payment 03/19/2027 1.00 1
TValue Amortization Schedule - Normal, 365 Day Year
nterest
Principal
Loan 03/19/2020
1 03/19/2020
25,913.75
0.00
25,913.75
2020 Totals
25,913.75
0.00
25,913,75
2 03/19/2021
25,913.75
5,614.26
20,299.49
2021 Totals
25,913.75
5,614.26
20,299.49
3 03/19/2022
25,913.75
4,893.63
21,020.12
2022 Totals
25,913.75
4,893.63
21,020.12
4 03/19/2023
25,913.75
4,147.42
21,766.33
2023 Totals
25,913,75
4,147.42
21,766.33
5 03/19/2024
25,913,75
3,383.96
22,529.79
2024 Totals
25,913.75
3,383.96
22,529.79
6 03/19/2025
25,913.75
2,574.90
23,338.85
2025 Totals
25,913.75
2,574.90
23,338.85
7 03/19/2026
25,913.75
1,746.38
24,167.37
2026 Totals
25,913.75
1,746.38
24,167.37
8 03/19/2027
25,913.75
888.43
25,025.32
9 03/19/2027
1.00
0.02
0.98
2027 Totals
25,914.75
888.45
25,026.30
Grand Totals 207,311.00 23,249.00 184,062.00
Last interest amount increased by 0.02 due to rounding.
Page 1 of 2
04/01/2020 1:09 PM
184,062,00
158,148,25'
137,848.76
116,828.64
95,062,31
72,532.52
49,193.67
25,026.30
0.98
0.00
04/01/2020 1:09 PM
ANNUAL
FINANCE
Amount Financed
Total of Payments
PERCENTAGE
CHARGE
RATE
The amount of credit
The amount you will
The dollar amount the
provided to you or on
have paid after you
The cost of your credit
credit will cost you.
your behalf.
have made all
as a yearly rate.
payments as scheduled.
3.551%
$23,249.00
$184,062.00
$207,311.00
Page 2 of 2
CITY OF BLAIR
WASHINGTON COUNTY BANK 76-1316
43209
218 S. 16TH STREET
BLAIR, NEBRASKA
1049
N® t
BLAIR, NEBRASKA 68008 `
''
(402)426-4191
DATE
CHECK NO.
AMOUNT
3/2,0/20
43209
**184,062.00
ONE HUNDRED EIGHTY FOUR THOUSAND SIXTY TWO AND 00/10
OLLARS
PAY
TO THE
ORDER
OF MACQUEEN EQUIPMENT
,
1125 7TH ST E
`�
ST PAUL, MN 5516
0
141-, ..,01
�W
CITY
""
C E K - TflEAS ER'
11'043 20911' 1® 1049 13 L6 10®
0 2 2111 21,0110
CITY OF BLAIR, NEBRASKA
43209
CUSTOMER #
1808 MACQUEEN
EQUIPMENT
INVOICE # REFERENCE
GL ACCOUNT #
NET
E00226 INV
04-024-5403
184062.00
CHECK DATE 3/20/20 CHECK #
43209 TOTAL:
**184,062.00
CITY OF BLAIR, NEBRASKA
43209
CUSTOMER #
1808 MACQUEEN
EQUIPMENT
INVOICE # REFERENCE.
GL ACCOUNT #
NET
E00226 INV
04-024-5403
1840612.00
CHECK 'DATE: 3/20/20 CHECK #
43209 TOTAL: **184;062,00
WL85111M1 DUGAN PRINTING & PROMOTIONS 402.330.3173
PRINTED IN U.S.A.