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<br />oe/2S/00 WED 10:41 F.~ 612 3(( .2 <br /> <br />Don Grill". <br /> <br />1jIJ003 <br /> <br />OtIID leu, closing ~ Ol\ly Lessee's k!gal expenses. <br />Trusteel Not Required <br /> <br />Ned Le#Se'l This ia eo Jll;t 1_ tr_tion whereby insurenllil, maintCJIlIlllOC, <br />and IUIY applicable ~ are the responsibility of the Lessee. <br />All mamdilcturers' guatanteet ~ wamntiel will be passed on <br />to the Lessee. <br /> <br />IIfStua1fce: Lessor requires personal :property dallll\ge insuraxu:e equal to <br />the cost of the equipment and also minimum liability insurance <br />of a combined smgle Iimlt of S500,000. Lessor lJJ\lsI. be narned <br />additlona11nsnr1ld. <br /> <br />NOll-ApprOJ'riatibns uase: The lease payments are subject to anl1lllll approprlatlon of <br />funds by Lessee. <br /> <br />Purchue Option: <br /> <br />$UlO at end of 1ease term <br /> <br />Tar StotJ.ts: <br /> <br />This lease is subject to the x.- being qualified as a <br />governmental entity or "pOlitical subdivision" within the <br />tll.e6lili1g of &ction 103(6) of the Intemal Revenue Code of <br />1986 as amended. Lessee agrees to cooperate wid!. LcS&Or in <br />providlog evidence as deemed aecttilIr)' or desirable by Lessor <br />to SIlbstantiato Lessee's and this transalrtion's tax-exempt status, <br />including Lessee's providing an attOlU)"S opinion. 1t is a <br />conditiDn also that the transaction be "b8nIc-<l.ua1iB.ed" Ullder <br />the $10 million small issuer cap imposed by the Tax RefOrm <br />Act of1986. <br /> <br />c,edit Infontllltitm: <br /> <br />The intet'cst ratc q\lOted is effective for 10 days from this date. <br />ThereaftEr they llte subject to adjusttncnt according to the tax- <br />exempt money markct conditiOIlS. Upoll credit approval, the <br />applicable rate will be valid for approximatelY 30 days. <br /> <br />Lessor's credit committee requlret fitwlgial slatellJemS fOr the <br />past throe fiscal )'\lm'S /IIld the current year's operating budget. <br /> <br />LeGe Rote: <br /> <br />propD8Ql Only: <br /> <br />rbis is a proposal only and does Dot rcpn:sell1 a commitment to <br />lCMC, It is subject to approval by Lessor's ctcdit committee. <br /> <br />E 3Dlfd <br /> <br />:Xlfd <br /> <br />Wd \E:~O G3M OO-S~-~.: <br />