TCF Equipment Schedule (Fair Market Value Purchase Option) N i 0 (2' a A- i'oY i vAL,
Equipment Schedule
equipment
finance (Fair Market Value Purchase Option)
The"Lease": Equipment Schedule Number 008-0188100-104 Dated February 20,2017 to Master Lease Number 188100L Dated July 8,2015
"Lessee"
City of Miami Beach,Florida,1700 Convention Center Drive,Miami Beach,FL 33139
Contact:Steve Farell Phone:(305)532-3350
"Lessor"
TCF Equipment Finance,a division of TCF National Bank,1111 West San Marnan Dr,Suite A2 West,Waterloo,IA 50701-8926
This Equipment Schedule(this"Schedule")is entered into pursuant to and incorporates the terms of the Master Lease(except as expressly modified by this Schedule)
identified above between Lessor and Lessee(the"Master Lease"and,together with this Schedule and the Amendment to Master Lease dated July16,2015,this"Lease").
All capitalized terms not otherwise defined in this Schedule have the meanings assigned in the Master Lease.Upon execution and delivery of this Schedule by Lessor and
Lessee,and Lessee's acceptance of the Equipment described below,Lessor leases to Lessee and Lessee leases from Lessor the Equipment on the terms and conditions of
this Lease.
SUMMARY OF TERM AND RENTAL PAYMENTS:
Commencement Initial Term Rent Payment Each Rent Payment Advance Rent Interim Rent Security Deposit Personal
Date 48 Period 51,139.85 Payment(s) Daily Factor Property Tax
Months Monthly plus applicable taxes $1,139.85 N/A N/A
except financed sales tax For Installments(s):
included in Total Cost First $5,310.00
EQUIPMENT,PERSONAL PROPERTY,SERVICES AND/OR SOFTWARE(The"Equipment"):
Description(including features) Location
(1)Toro ProCore 648 together with all attachments and accessories thereto Miami Beach Golf Club,2301 Alton Road,Miami
Beach,FL 33140
(1)Toro ProCore 648 together with all attachments and accessories thereto Normandy Shores Golf Club,2401 Biarritz Drive,
Miami Beach,FL 33141
Each Rent Payment shall be payable in advance on the Commencement Date and on the same day of each subsequent Rent Payment Period for the Initial Term and any renewal term.
The following additional provisions apply to the Equipment and this Lease only:
1. So long as this Lease has not been canceled or terminated early and no Event of Default exists,upon expiration of the Initial Term("Lease End"),Lessee may
purchase all,but not less than all,of the Equipment for the fair market value of the Equipment,as mutually determined by Lessor and Lessee,plus all sales and
use taxes arising on the sale of the Equipment.To exercise the foregoing purchase option,Lessee must give written notice thereof to Lessor at least 90 days and
no more than 120 days prior to Lease End.If Lessee fails to give such notice,or if the parties cannot agree on the Fair Market Value of the Equipment by 60 days
before Lease End,then the purchase option shall lapse.If the purchase option lapses,then at least 30 days before Lease End or the end of any renewal term,
Lessee must give Lessor notice of its intent to return the Equipment and request retum location instructions.If Lessee fails to give such notice,or gives notice but
fails to return the Equipment in accordance with Section 5 of the Master Lease,this Lease will automatically renew,at the same rental and other terms set forth in
this Lease,for additional successive noncancelable 1-month terms after the Initial Term until timely written notice of return and proper return of the Equipment is
made.
2. If Lessee gives timely notice of election to purchase the Equipment as provided in paragraph I and fails to timely pay the purchase price,then Lessor may,in its
sole discretion,by written notice to Lessee(a)treat the Equipment as purchased and enforce payment of the purchase price,or(b)by written notice to Lessee,
declare a failure to meet the purchase conditions whereupon Lessee's interest in the Lease and Equipment shall automatically be canceled and Lessee shall return
the Equipment in accordance with Section 5 of the Master Lease.
3. Upon Lessee's exercise of the purchase option and Lessor's receipt of the purchase price plus applicable sales and use tax and any rent or other amount owing
under this Lease,the Equipment will be deemed transferred to Lessee at its then location and,on Lessee's request at such time,Lessor will deliver to Lessee a
bill of sale for the Equipment,"WHERE IS,AS IS"WITHOUT ANY WARRANTY AS TO TITLE OR WITH RESPECT TO THE EQUIPMENT,EXPRESS
OR IMPLIED. i
4. Lessee shall pay all governmental fees,assessments and taxes,including all personal property tax,asse.-:+" or re aced to this Lease or the Equipment,when due or
invoiced.
Lessor: TCF Equipment Finance,a division of TCF By: ."/' a• Operations TC
National Bank �r
Lessee: City of Miami Beach,Florida By: / Philip Levine,Mayor l
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equipment
finance
FLORIDA ADDENDUM
TO MASTER LEASE NO.008-0188100-104 DATED AS OF February 20,2017
LESSOR: TCF Equipment Finance,a division of TCF National Bank
LESSEE: City of Miami Beach,Florida
This Addendum is hereby incorporated in and is hereby made a part of the above-referenced Master Lease No. 008-0188100-104 (together with all Exhibits and
Attachments and this Addendum,the"Master Lease"). Lessor and Lessee hereby agree that capitalized terms used herein and not otherwise defined herein shall have
the terms assigned to such terms in the Master Lease and that the following changes and additions shall be made to the Master Lease:
1. Section 3 of the Master Lease is hereby amended by adding the following sentences to the end of said Section:
Lessor and Lessee understand and intend that Lessee's obligation to pay Rent Payments hereunder will constitute a current expense and will not in any way
be construed to be a debt in contravention of any applicable constitutional or statutory limitation or requirement concerning the creation of indebtedness,nor
will anything contained herein constitute a pledge of Lessee's ad valorem tax revenues,funds or moneys. Lessor and Lessee further understand that the use
of the ad valorem taxing power to make Rent Payments cannot be compelled.Notwithstanding anything contained in this Lease to the contrary,all payments
due under this Lease will be remitted in accordance with and governed by the mandatory provisions of the Florida Prompt Payment Act,sec.218.70,Florida
Statutes,et.seq.
2. The third(3rd)sentence of Section 11 of the Master Lease is hereby amended to be deleted in its entirety and replaced with the following sentence:
Lessor will be entitled to any surplus.
3. Section 14 of the Master Lease is hereby amended by adding the following language to the end of said Section:
Upon return of Equipment to Lessor as required by this Section,Lessor will use our best efforts to lease or sell that Equipment upon such terms as Lessor,in
our reasonable judgment,deem prudent. Lessor will apply the net proceeds of that sale or lease in the following manner: (i)first,to reimburse all Lessor's
costs associated with the taking,removing,holding,repairing and leasing or selling of that Equipment;(ii)second,to pay to Lessor an amount equal to the
Fair Market Value for that Equipment at the time of the termination of the Lease; (iii)third, to pay to Lessor the amount necessary to satisfy Lessee's
remaining obligations under the terminated Lease; and(iv)fourth, to remit any amounts thereafter remaining to Lessor. No deficiency will be allowed
against Lessee.
4. IF LESSEE IS A COUNTY,Lessee represents and covenants that(a)if the Initial Term with respect to any Lease is greater than five years,Rent Payments under
such Lease will be payable from sources other than ad valorem taxes,and(b)each Lease has been approved by Lessee's Board of County Commissioners prior to
the Commencement Date of such Lease.
Except as specifically set forth in this Addendum,all terms and conditions contained in the Master Lease will remain in full force and effect and are hereby ratified and
confirmed.
TCF Equipment Finance,a division of TCF
Lessor: By: Operations T.C.
National Bank
Lessee: City of Miami Beach,Florida By: Philip Levine,Mayor
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Muni Lease Short Form FLRider v 04.16.15 318558 2/20/2017 9:25 AM
`tcf
equipment
finance
CERTIFICATE OF INCUMBENCY
LEASE NO.008-0188100-104
DATED AS OF February 20,2017
XI tZ�' c,o V GI'�.�eG& c; , do hereby certify that I am the duly elected or appointed and
acting Clerk/Secretary of City of Miami Beach, Florida(the "Lessee"),a political subdivision duly organized and existing
under the laws of the State of Florida, and that, as of the date hereof, the individuals named below are the duly elected or
appointed officers of the Lessee holding the offices set forth opposite their respective names.
NAME TITLE SIGN �'
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IN WITNESS WHEREOF,I have duly executed this certificate this l 1of } ! -? ,20
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Title: C.t�./ C.,t-2 r IC--
NOTE: The Clerk or Secretary of the Lessee should sign unless that person is also the signor of the documents in which case the President or some
other Officer of the Lessee should execute this document. p,
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equipment
finance
CERTIFICATE OF INCUMBENCY
LEASE NO.008-0188100-104
DATED AS OF February 20,2017
XI, KJ"c l �' +1 u , do hereby certify that I am the duly elected or appointed and
acting Clerk/Secretary of City of Miami Beach, Florida(the "Lessee"),a political subdivision duly organized and existing
under the laws of the State of Florida, and that, as of the date hereof, the individuals named below are the duly elected or
appointed officers of the Lessee holding the offices set forth opposite their respective names.
NAME TITLE SIGN `4`
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IN WITNESS WHEREOF,I have duly executed this certificate this d.' of ,20
XSigned: / 5 /1 L ! t 1
XTitle: ems,� `aiZr).1C--
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NOTE: The Clerk or Secretary of the Lessee should sign unless that person is also the' •Z,tHe d. cd' in tic ase he President or some
other Officer of the Lessee should execute this document.
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tcf
equipment
finance
CERTIFICATE OF INCUMBENCY
LEASE NO.008-0188100-104
DATED AS OF February 20,2017
XI Kc o e A C7:1 cyr\ , do hereby certify that I am the duly elected or appointed and
acting Clerk/Secretary of City of Miami Beach,Florida(the "Lessee"),a political subdivision duly organized and existing
under the laws of the State of Florida, and that, as of the date hereof,the individuals named below are the duly elected or
appointed officers of the Lessee holding the offices set forth opposite their respective names.
NAME TITLE SIG �,
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IN WITNESS WHEREOF,I have duly executed this certificate this 1((:) d' of til-ti-`T ,20 ( t
711 X Signed: S! l v 1\--)
Title: C. ;ti C—k c IL.
NOTE: The Clerk or Secretary of the Lessee should sign unless that person is also the signor of the do ,.-Iftil in which case the President or some
other Officer of the Lessee should execute this document. B
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®tf Self-Insurance Addendum
equipment
finance
The"Contract":Lease Number 008-0188100-104 dated February 20,2017
"Lessee"
City of Miami Beach,Florida,1700 Convention Center Drive,Miami Beach,FL 33139
"Lessor"
TCF Equipment Finance,a division of TCF National Bank,1111 West San Marnan Dr,Suite A2 West,Waterloo,IA 50701-8926
This Addendum is part of, and reference is hereby made to,the above-referenced Contract between Lessee and Lessor.
Notwithstanding the provisions in the Contract requiring Lessee to procure and maintain insurance,so long as Lessee is not in default under
the Contract or any other agreement between Lessor and Lessee,and provided that there shall be no material adverse change in the financial
condition of Lessee from and after the date of this Addendum(as determined by Lessor in its sole discretion),Lessee may self-insure
against physical loss or damage to the Equipment,as defined in the Contract,to the same extent it self-insures equipment and other goods
which it owns that are similar in nature to the Equipment,provided such self-insurance program is not inconsistent with prudent industry
practice.
Lessee shall deliver to Lessor a self-insurance certificate with respect to Equipment which Lessee will self-insure, substantially in the form
attached to this Addendum.
In the event(a)Lessee ceases to be self-insured or elects not to be self-insured with respect to a specific item of Equipment,or(b)Lessor
notifies Lessee that Lessee may no longer self-insure due to a default having occurred under the Contractor another agreement between
Lessee and Lessor or due to a material adverse change in the financial condition of Lessee,then this Addendum shall become void and
Lessee shall immediately procure and maintain insurance against the physical loss or damage to the Equipment in an amount no less than
the Equipment's full replacement value,with Lessor as loss payee. Such insurance shall be in such a form,including maximum
deductible, and with such insurers as Lessor may accept,shall require the insurer to give Lessor at least 30 days' prior written notice of
any cancellation or change in terms,and shall specify that no action or misrepresentation by Lessee will affect Lessor's coverage. Lessee
will also appoint Lessor as attorney-in-fact to make claims,receive payments and execute and endorse all documents,checks or drafts
under such policies. Lessee shall furnish certificates evidencing the foregoing policies from time to time at Lessor's request.
Except as expressly set forth in this Addendum,nothing herein shall be deemed o ifyLes e's obligations under the Contract.
•
Dated as of I '`�? / 2
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Lessee: City of Miami Beach,Florida X By " Philip Levine,Mayor
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Sell]nsurance Addendum ser.06.09.2014 SA
The"Contract":Lease Number 008-0188100-104 dated February 20,2017
"Lessee"
City of Miami Beach,Florida,1700 Convention Center Drive,Miami Beach,FL 33139
"Lessor"
TCF Equipment Finance,a division of TCF National Bank,1111 West San Marnan Dr,Suite A2 West,Waterloo,IA 50701-8926
SELF-INSURANCE CERTIFICATE—PROPERTY DAMAGE
To Lessor:
This is to acknowledge that the above-referenced Lessee is under a self-insurance program for physical loss or damage with respect to the
Equipment described in the Contract between Lessee and Lessor, for any loss or damage to the Equipment. Lessee fiirther certifies that it
will notify Lessor in writing,via certified mail,in the event of any theft,loss,damage or other casualty to the Equipment within 48 hours
of the date of such occurrence.
Dated as of 7 0.12-G 1`) /
Lessee: City of Miami Beach,Florida By: Philip Levine,Mayor
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& LANGUAGE
ATTEST: FOR EXECUTION
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tc Insurance Certificate Request
equipment
finance
11100 Wayzata Blvd,Suite 801 Minnetonka,MN 55305
To To Whom It May Concern From Marisa Meyers
Company Fax (866)465-3149
Fax Phone (800)215-4738 x
Phone Email mmeyers@financediv.com
Subject INSURANCE CERTIFICATE REQUEST Date February 20,2017
Message:
Our mutual customer, City of Miami Beach,Florida, is leasing equipment through TCF Equipment Finance, a division of
TCF National Bank. We are in need of an INSURANCE CERTIFICATE for the equipment leased prior to us closing out
their transaction.Please see below for specifics. Thanks!
Please include the following items on the certificate:
1. INSURED: City of Miami Beach,Florida, 1700 Convention Center Drive,Miami Beach,FL 33139
2. COVERAGES:
• Liability Insurance—Minimum$1,000,000.00 per occurrence in Combined Single Limit or such greater
minimum as may be prescribed by any applicable state law specifying minimum insurance requirements.
➢ Policy Number
➢ Policy Effective Date &Policy Expiration Date
• Property Damage—Cost: $59,000.00 or ACV
➢ Comprehensive & Collision Deductibles (if applicable) or Physical Damage Deductible(Shall
not exceed$10,000 or 10% of Total Cost)
➢ Policy Number
➢ Policy Effective Date &Policy Expiration Date
3. DESCRIPTION OF EQUIPMENT:
(1) Toro ProCore 648 together with all attachments and accessories thereto
Or reference: "Leased Equipment on TCF Contract Number 008-0188100-104", if the description is too long
4. TCF National Bank,its successors and assigns needs to be listed as Loss Payee&Additional Insured on the
Insurance Certificate.
If you have any questions,please feel free to contact me. Please send the certificate to my attention as soon as possible to
mmeyers@financediv.com or fax to (866)465-3149. Thank you!
Marisa Meyers
Senior Transaction Coordinator
TCF Equipment Finance, a division of TCF National Bank, 1111 West San Marnan Dr, Suite A2 West,Waterloo,IA
50701-8926
THE INFORMATION CONTAINED IN THIS FACSIMILE IS CONFIDENTIAL AND IS INTENDED ONLY FOR THE USE OF THE INDIVIDUAL NAMED ABOVE. IF THE READER OF THIS INFORMATION IS NOT THE
INTENDED RECIPIENT.YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION,DISTRIBUTION OR COPYING OF THIS COMMUNICATION IS STRICTLY PROHIBITED AND YOU ARE DIRECTED TO
DESTROY IT.IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR,PLEASE CONTACT US IMMEDIATELY BY TELEPHONE AT 800-442-7811.
InsuranceCertRequest_Lease ver.09.03.14 318558 SA 2/20-2017 8:31 AM
cf Invoice
equipment
finance
Date of Invoice: 02/20/2017
Application Number: 318558
Contract Number: 008-0188100-104
To: City of Miami Beach, Florida
1700 Convention Center Drive
Miami Beach, FL 33139
Advance Payments/Security Deposit
Description Contract Payment Sales/Use Tax Other Amount
First Payment in Advance $1,139.85 S0.00 $1,139.85
Last Payment in Advance $0.00 S0.00 $0.00
$0.00 50.00
Sub Total $1,139.85
Other Fees/Charges
Fee Description Amount
Documentation Fee $250.00
Other Fees/Charges Sub Total $250.00
Invoice Total Due
Invoice Total Due $1,389.85
Remit Payment with 866-465-3149
Completed Documents to: OR
TCF Equipment Finance, a division of TCF
National Bank
1111 West San Marnan Dr, Suite A2 West
Waterloo, IA 50701-8926
Invoice Waterloo v.08.01.12 318558 SA 2!2012017 8:31 AM