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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. �t� • 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