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EXHIBIT 1 <br />15 <br />Property Description and Payment Schedule <br />Re: Property Schedule No. 02 to Master Tax - Exempt Lease /Purchase Agreement between Key Government <br />Finance, Inc. and Chapel Hill - Carrboro City Board of Education. <br />The Property is as follows: The Property as more fully described in Exhibit A incorporated herein by reference and <br />attached hereto. <br />EQUIPMENT LOCATION: 750 S. Merritt Mill Rd., Chapel Hill, NC 27516 -2878 <br />USE: Networking - This use is essential to the proper, efficient and economic functioning of Lessee or to the services that <br />Lessee provides; and Lessee has immediate need for and expects to make immediate use of substantially all of the <br />Property, which need is not temporary or expected to diminish in the foreseeable future. <br />Rental Payment Schedule <br />If the Due Dates are not defined in this Rental Payment Schedule, they shall be defined as the last day of each monthly <br />period of this Rental Payment Schedule commencing with the Acceptance Date. <br />Total Principal Amount $1,428,323.00 <br />The financing table below is net of the special financing promotion payment from Cisco Systems, Inc. in the amount of <br />$66,474.89, This payment will be made by Cisco to Lessor. <br />?"A <br />Date <br />Payment Made <br />By Cisco <br />Payment Made <br />By Lessee <br />Principal <br />Interest <br />Termination <br />Balance <br />1 <br />1 -A r -2012 <br />66,474.89 <br />66,474.89 <br />0.00 <br />1,389,085.07 <br />2 <br />1- Oct -2012 <br />292 863.92 <br />272,721.74 <br />20142.19 <br />1,110,908.90 <br />3 <br />1- Oct -2013 <br />292,863.92 <br />260,408.59 <br />32,455.33 <br />845,292.14 <br />4 <br />1- Oct -2014 <br />292,863.92 <br />268,168.61 <br />24,695.31 <br />571,760.16 <br />5 <br />1- Oct -2015 <br />292,863.92 <br />1 276159.88 <br />1 16,704.04 <br />1 290,077,08 <br />6 <br />1- Oct -2016 <br />292,863.92 <br />1 284,389.29 <br />1 8,474.64 <br />1 0.00 <br />Lessee: Chapel hill- Carrboro City Board of <br />Education <br />B: <br />Name: <br />Title: <br />tk��WQV* 3 <br />