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Amendment to Lease Agreement - Parks Vehicle Lease
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Amendment to Lease Agreement - Parks Vehicle Lease
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3/28/2025 11:57:39 AM
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8/11/2016 1:33:47 PM
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Board of Public Works
Document Type
Contracts
Document Date
8/9/2016
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E34 <br />FORM OF OPINION OF LESSEE'S COUNSEL <br />(PLEASE FURNISH THIS TEXT ON ATTORNEY'S LETTERHEAD) <br />Date of Opinion <br />PNC Equipment Finance, LLC <br />155 E Broad Street <br />Columbus, OH 43215 <br />Re: Master Equipment Lease -Purchase Agreement <br />dated May 15, 2012, Lease Schedules thereto <br />and related Escrow Agreement <br />Ladies and Gentlemen: <br />As counsel for City of South Bend ("Lessee "), I have examined the Master Equipment Lease -Purchase <br />Agreement duly executed by Lessee and dated May 15, 2012 (the "Master Lease "), which has been incorporated <br />by reference into Lease Schedule No. 199253000 dated July 21, 2016 (the "Original Lease Schedule"), each <br />between Lessee and PNC Equipment Finance, LLC, as lessor ("Lessor"), the Schedule A-1 attached to the <br />Original Lease Schedule (the "Original Payment Schedule "), the Escrow Agreement dated July 21, 2016 (the <br />"Original Escrow Agreement"), among Lessee, Lessor and the escrow agent therein identified, and the <br />proceedings taken by the governing body of Lessee to authorize on behalf of Lessee the execution and delivery <br />of the Master Lease, the Original Lease Schedule, the Original Payment Schedule, the Original Escrow Agreement <br />and all additional lease schedules and related payment schedules and escrow agreements to be entered into <br />pursuant to the Master Lease (each of which is herein referred to as an "Additional Lease Schedule ") and to be <br />executed and delivered by the same authorized officers on behalf of Lessee in substantially the same manner and <br />in substantially the same form as the Original Lease Schedule. The Original Lease Schedule, which incorporates <br />by reference the terms and conditions of the Master Lease, and the related Original Payment Schedule and <br />Original Escrow Agreement are herein collectively referred to as the "Lease. " Any Additional Lease Schedule, <br />which incorporates by reference the terms and conditions of the Master Lease, and the related payment schedule <br />and escrow agreement are herein collectively referred to as an "Additional Lease. " <br />Based upon the foregoing examination and upon an examination of such other documents and matters of <br />law as I have deemed necessary or appropriate, I am of the opinion that: <br />1. Lessee is duly organized and legally existing as a political subdivision, municipal corporation or similar <br />public entity under the Constitution and laws of the State of Indiana with full power and authority to enter <br />into, and perform its obligations under, the Lease and each Additional Lease. <br />2. The Lease and each Additional Lease have each been duly authorized and have been or, with respect to <br />each Additional Lease, will be, duly executed and delivered by Lessee. Assuming due authorization, <br />execution and delivery thereof by Lessor, the Lease constitutes, and each Additional Lease will constitute, <br />the legal, valid and binding obligation of Lessee, enforceable against Lessee in accordance with their <br />respective terms, except to the extent limited by State and federal law affecting creditor's remedies and <br />
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