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Agenda - 06-18-2013 - 5l
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Agenda - 06-18-2013 - 5l
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Last modified
6/9/2015 4:49:39 PM
Creation date
6/17/2013 9:25:19 AM
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BOCC
Date
6/18/2013
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
5l
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Finance agreement -Approval of Orange Grove Station #3 Finance Agreement from 6-18-2013 BOCC meeting - Agenda Item 5L
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\Board of County Commissioners\Various Documents\2010 - 2019\2013
Minutes 06-18-2013
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\Board of County Commissioners\Minutes - Approved\2010's\2013
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28 <br />EXHIBIT F <br />Lease No.: Shown on Schedule I <br />Equipment Schedule: Shown on Schedule I <br />SUNTRUST EQUIPMENT FINANCE & LEASING CORP. <br />ESCROW AGREEMENT <br />This ESCROW AGREEMENT, made and entered into as of the Date shown on Schedule I, by and among SUNTRUST EQUIPMENT <br />FINANCE & LEASING CORP., a Virginia corporation ( "Lessor"), Lessee named on Schedule 1, which is a qualified volunteer fire <br />company within the meaning of Section 150(e) (2) of the Internal Revenue Code of 1986, as amended, (the "Code ") of the State or <br />Commonwealth shown on Schedule I ( "Lessee "), and SUNTRUST BANK, a Georgia banking corporation, as Escrow Agent ( "Escrow <br />Agent"). <br />In consideration of the mutual covenants herein contained, the parties hereto agree as follows: <br />ARTICLE I. DEFINITIONS AND RECITALS <br />Section I.I. Definitions. The terms defined in this Section 1.1 shall, for all purposes of this Escrow Agreement, have the meanings <br />specified below or on Schedule I. <br />"Acquisition Costs" means, with respect to the Equipment, the contract price paid or to be paid to the person entitled to such payment <br />upon acquisition or delivery of any portion of the Equipment in accordance with the purchase order or contract therefor. Acquisition Costs <br />may include the administrative, engineering, legal, financial and other costs incurred by Lessee in connection with the acquisition, delivery <br />and financing of the Equipment, if approved by Lessor. <br />"Equipment" means the personal property described in the Acceptance Certificate executed pursuant to the Lease, together with any and <br />all modifications, additions and alterations thereto, to be acquired from the moneys held in the Equipment Acquisition Fund. <br />"Equipment Acquisition Fund" means the account by that name established and held by Escrow Agent pursuant to Article II of this <br />Escrow Agreement. <br />"Escrow Agent Fee" has the meaning set forth in Section 6.1 and the amount of such Escrow Agent Fee is shown on Schedule I. <br />"Escrow Agreement" means this Escrow Agreement and any duly authorized and executed amendment or supplement hereto. <br />"Initial Deposit Amount" means the amount shown as the Initial Deposit Amount on Schedule I. <br />"Lease" means the Master Lease, together with the Equipment Schedule identified on Schedule I, by and between Lessee and Lessor, and <br />any duly authorized and executed amendment or supplement thereto. <br />"Master Lease" means the Master Lease Agreement, dated as of the date shown on Schedule I, by and between Lessee and Lessor, <br />including any Equipment Schedules entered into thereunder and any duly authorized and executed amendment or supplement thereto. <br />"Payment Request Form" means the document substantially in the form attached hereto as Exhibit A to be executed by Lessee and <br />Lessor and submitted to Escrow Agent to authorize payment of Acquisition Costs. <br />"Qualified Investments" means the ST Leasing — Corp Agency NOW Account, a SunTrust Deposit Account for Escrow customers of <br />SUNTRUST EQUIPMENT FINANCE & LEASING CORP. and SunTrust Bank. By signing this Escrow Agreement, Lessee <br />acknowledges that such Qualified Investment is a permitted investment under any state, county or municipal law applicable to the <br />investment of Lessee's funds. <br />ARTICLE II. APPOINTMENT OF ESCROW AGENT; AUTHORITY <br />27 <br />5/16/ 2013: BQ- ESCfamtem.D0C /rev.01 /04.st1 <br />
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