Agenda - 06-18-2013 - 5l - Laserfiche WebLink

Browse Search

M SUNTRUST EQUIPMENT FINANCE & LEASING CORP. ADDENDUM TO EQUIPMENT SCHEDULE NO. 01 TO MASTER LEASE AGREEMENT (LEASE NO. 09065) RELATING TO SELF - INSURANCE THIS ADDENDUM is made as of June 3, 2013, between SUNTRUST EQUIPMENT FINANCE & LEASING CORP. ( "Lessor ") and ORANGE GROVE VOLUNTEER FIRE COMPANY, INC. ( "Lessee "). Recitals A. Lessor and Lessee have entered into a Master Lease Agreement dated as of June 3, 2013 (the "Agreement "). B. Lessee desires to lease equipment described in Equipment Schedule No. 01 to the Agreement (the "Equipment ") and Lessee has requested that Lessor lease such Equipment to Lessee. C. With respect to Equipment Schedule No. 01, Lessee has requested that Lessor permit it to provide self - insurance for liability claims and property damage. D. Lessor is willing to grant Lessee's request subject to the following terms and conditions. NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements contained herein and in the Agreement, it is hereby agreed as follows: 1. The terms capitalized in this Addendum but not defined herein shall have the meanings assigned to them in the Agreement. 2. Lessee hereby represents and warrants that all representations and warranties contained in the Agreement are true and correct as of the date hereof and that an Event of Default or event which, with the passage of time or giving of notice or both, would constitute an Event of Default has occurred under the Agreement. 3. All other terms and conditions of the Agreement not specifically amended by this Addendum shall remain in full force and affect and are hereby ratified and confirmed by Lessee. 4. Lessee represents and warrants that all representations and warranties contained in the Questionnaire for Self- Insurance to Master Lease Agreement (the "Questionnaire ") are true and correct as of the date hereof. 5. Lessor acknowledges receipt of the Questionnaire and, in reliance upon the information provided therein, agrees that Lessee may satisfy the requirements of Sections 7.1 through 7.3 of the Agreement with respect to Equipment Schedule No. 01 through self - insurance. 6. By written notice to Lessee, Lessor may revoke its agreement relative to Equipment Schedule No. 01 to accept self - insurance in lieu of the insurance required by Section 7.1 through 7.3 of the Agreement at any time during the related Lease Term when Lessor deems itself insecure with respect to such self - insurance. Within thirty (30) days of receipt of notice from Lessor, Lessee agrees to obtain insurance in compliance with Section 7.1, 7.2 and 7.3 of the Agreement and provide evidence thereof to Lessor. IN WITNESS WHEREOF, the parties by their duly authorized officers have executed this Addendum as of the date and year first above written. ORANGE GROVE VOLUNTEER FIRE COMPANY, INC., Lessee By: Name: Bill Waddell Title: President Date: 39 5/16/ 2013: BQ- ESCfamtem.D0C /rev.01 /04.st1 SUNTRUST EQUIPMENT FINANCE & LEASING CORP., Lessor By: Name: Title: Date: