HomeMy WebLinkAboutBANC OF AMERICA LEASING -002058 -7/21/2011 •CARMEL REDEVELOPMENT COMMISSION 0 0 2058
B'anc of America Leasing Check: 2058
Lease Administration Center Date: 7/21/2011
PO Box 405874 Vendor: BANCOFA1
Atlanta, GA 30384-5874
Prior
Invoice P.O. Num. Invoice Amt Balance Retention Discount Amt. Paid
083111 441.65 441.65 0.00 0.00 441.65
balance due
441.65 441.65 0.00 0.00 441.65
Lease# 008-2215623-000
Providing no Event of Default(or event or condition which,with the passage of time or giving of notice,would become such an
Event of Default)has occurred and is continuing in connection with the Lease,and Lessee is in full compliance with all other
terms of the Lease,Lessor agrees to terminate the Lease upon receipt to the following Return Quote and upon prompt receipt of
the equipment(collectively the"Return Quote"):
Return Quote:
Lessor must receive the following proceeds in good funds and the equipment prior to: 08/31/2011
Balance Due: $441.65
Director of Redevelopment/g 3 c 3 C 6
Should you elect to pay off the lease and purchase the equipment, providing no Ev nt of Default(or event or condition which,
with the passage of time or giving of notice,would become such an Event of Default)has occurred and is continuing in connection
with the Lease,and Lessee is in full compliance with all other terms of the Lease, Lessor agrees to terminate the Lease and
transfer all of its right,title, and interest in and to the above referenced assets to Lessee or their designate for the amounts stated
below, plus any sales, use, property or excise tax(any and all taxes paid are non-refundable)on or measured by such sale plus
any other expenses due or payable in connection with said transfer(collectively,the"Purchase Quote").
Purchase Quote:
Lessor must receive the following in good funds prior to: 08/31/2011
Balance Due $441.65
Purchase Option $1,736.20
Sales/Use Tax on Purchase Option $0.00
TOTAL PURCHASE OPTION: $2,177.85
You may either forward the total due to the address below or you may wire transfer the funds to:
Banc of America N.A.
100 N Tryon St
Banc of America Leasing Charlotte, NC
P.O. Box 7023,Troy, MI 48007-0723 Wire ABA routing no: 026009593
Swift code: BOFAUS3N
ATTN: BUYOUT DEPT.
Account: 1257354255
Account title: Lease Administration Center
Ref: 008-2215623-000
If the Total Return Option(including timely delivery of the equipment)or Total Purchase Option is not received by Lessor in accordance with the
terms of this letter,the Lease shall continue in full force and effect in accordance with its terms and Lessee shall promptly reimburse Lessor for
any out of pocket expenses Lessor may have incurred in connection with the proposed cancellation of said Lease. Nothing contained in this letter
shall be deemed a waiver of any rights and remedies Lessor may have under the Lease,other related documents and instruments or applicable
law,all of which rights and remedies are expressly reserved.
If you elect the Purchase option,the above referenced assets will be sold"AS IS,WHERE IS"without representation or warranty,of any kind,
express or implied,and without recourse to Lessor,except that the above described equipment shall be free and clear of all liens created by
Lessor. All taxes and fees collected by Lessor for others are estimates;if additional monies are due,Lessee agrees that they are responsible for
and will pay directly or reimburse Lessor.
CHARGE DEFINITIONS
REMAINING CONTRACT BALANCE: The sum of all remaining payments pursuant to your lease agreement. RESIDUAL PURCHASE PRICE:
The stated equipment purchase option pursuant to your lease agreement. LATE CHARGES: Any contractual payment not made on,or before,
the scheduled due date is subject to the assessment of late charges pursuant to your lease agreement. This amount represents the sum of all
outstanding late charges as of the date this quote was prepared. INSURANCE CHARGES:The sum of all outstanding insurance charges as of
the date this quote was prepared. PERSONAL PROPERTY TAX: Taxes assessed by your local tax authorities based on the value of the
equipment. Under the terms of the lease agreement,you will reimburse Lessor for this tax plus an administrative fee. This amount includes
personal property taxes for the current tax year and a good faith estimate of the assessed amount for the final period of the lease which has not
yet been billed by the taxing authority.
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RETURN AUTHORIZATION
Lease Administration Center-Equipment Management Group
Ph:800-959-5943; Fax: 312-453-5362; EMG @LeaseAdminCenter.com
July 11,2011
CARMEL CITY OF
30 WEST MAIN ST
STE 220
CARMEL, IN 46032
Lease Number: 008-2215623-000
Dear Lessee:
This letter will serve as your Return Authorization(RA)for the equipment listed under the above referenced contract number and
must be returned in accordance with the terms of the contract and this letter.You are not required to use a specific shipping
company;however if you need a recommended shipper or have specific shipping questions you may contact the warehouse
indicated on the next page. Before returning your equipment,please review the following instructions:
1. In order to properly return your equipment you will need to pay the current balance due(a statement is attached)and return
your equipment in accordance with this Return Authorization. Should you fail to return the equipment or pay the balance due you
will continue to be responsible to make rental payments in accordance with the terms of the Lease Agreement. If you return
equipment after the Lease Expiration Date,you may be responsible for additional charges related to any renewal,extension or
holdover of the equipment beyond the original Lease Term. Review the terms of your Lease Agreement for details on renewals
and holdover charges. If we receive a partial return,you may continue to owe monthly payments until all remaining items of
equipment are received. For your consideration we have also included a Purchase quote should you decide to purchase your
equipment.
2. You are responsible for all equipment until it reaches our warehouse and you will be billed for equipment that is not returned,is
damaged or missing any components or accessories.A general asset listing is attached for your convenience. Please refer to your
original dealer invoice/PO for full detail.
3. Be advised that we are not responsible for removing data or images which may be stored on the equipment's hard drive or
other memory components. Any information stored on the equipment while in your possession must be removed prior to your
return of the equipment. We cannot be responsible for securing data left in the unit's memory at the time the equipment is
returned. If you require assistance in this process, please contact your servicing dealer or the manufacturer.
4. Check to ensure that all serial numbers on the equipment correspond with those on your lease contract and/or invoice. Each
item must be returned including all manuals, cords,and accessories in good operating condition,with normal wear and tear
accepted.
5. The toner for each copier MUST be removed,wrapped and shipped separately. Failure to do so could result in damage to the
machine in which case additional charges will be assessed.
6. Per the terms of your lease,you are responsible for the cost of packaging, shipping,and insuring the equipment. Please note
your shipment will be inspected upon its arrival to our warehouse facility. Please make sure your shipment is complete and
properly packed prior to pick-up and that you are provided with a bill of lading from your shipping company detailing all equipment
to be returned to us.
7. Please note that equipment will be refused at our warehouse if a valid Lease Number and Return Authorization Number are not
visible on the outside and inside of crating/boxes.
8. Equipment must be insured in case of loss or damage. In the event we receive damaged equipment,additional charges will be
assessed.
9. If you have any questions relating to your end of term options and/or obligations please contact the Equipment Management
Group at(800)959-5943 or email us at emg @leaseadmincenter.com.
RETURN AUTHORIZATION
Lease Administration Center-Equipment Management Group
Ph:800-959-5943; Fax: 312-453-5362; EMG @LeaseAdminCenter.com
Below is the warehouse address where to ship equipment. If you have specific shipping questions or need a recommended
shipper you may call the warehouse number listed below.
Please attach a copy of this RA to each item of equipment or include a copy of this RA inside all of the crating.
Ship To
Mars International
750 Pratt Ave
Elk Grove Village, IL 60007
Contact: Colleen Brooks
P: (973)777-5886
F: (973)777-5889
Contract Number: 008-2215623-000
Customer: CARMEL CITY OF
Return Authorization #: 37477-CZZ11
Equipment Description Model Number Serial Number
MINOLTA COPIER C450 311702472