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REGULAR MEETING <br />JUNE 4, 1984 <br />GRUMMAN EMERGENCY PRODUCTS, INC. Bid was signed by John M. Gerhold, <br />BY QUALITY FIRE TRUCKS, INC. President, Non -Collusion Affidavit <br />737 East Murray Street was in order and a 10% Bid Bond <br />Indianapolis, Indiana was submitted. <br />BID SUBMITTED: <br />One New 1984 Grumman 106 foot Aerial Ladder <br />Stock Serial #16795 $250,344.00 <br />Optional Equipment to be added to above vehicle <br />to match the City of South Bend's specification <br />with minor clarifications. These options will <br />increase delivery time to 80 to 90 days, in. <br />order to add them to the Apparatus. $ 13,709.00* <br />TOTAL $264,043.00 <br />Trade in allowance for one 1966 Maxim 100' aerial - $ 10,000.00 <br />Total Price after Trade In $254,043.00 <br />Financing available at 8.25% <br />*NOTE: Any optional equipment not wanted <br />should be deducted from this price, <br />to reduce the total package price. <br />84% RATE COMPOUNDED MONTHLY <br />TERM ANNUAL PAYMENT SEMI ANNUAL PAYMENT MONTHLY PAYMENT <br />YEARS FACTOR FACTOR FACTOR <br />1 1.085692 .531690 .087104 <br />2 .565149 .276767 .045341 <br />3 .392025 .191984 .031452 <br />4 .305755 .149736 .024530 <br />5 .254225 .124500 .020396 <br />6 .220064 .107771 .017656 <br />7 .195828 .095901 .015711 <br />8 .177792 .087069 .014264 <br />9 .163889 .080260 .013149 <br />10 .152878 .074868 .012265 <br />Number of Years: 3 Years 4 Years 5 Years <br />Total Amount Financed:* $254,043.00 $254,043.00 $254,043.00 <br />Semi Annual Payment:^* $ 48,772.19 $ 38,039.38 $ 31,628.35 <br />Number of Payments: 6 8 10 <br />Total of Payments: $292,633.14 $304,315.04 $316,283.50 <br />**Note: First Semi -Annual Payment is due at time of delivery and <br />acceptance of apparatus by South Bend Fire Department <br />*Note: If a greater amount of down payment is paid, multiply new <br />total amount financed by the underlined factors. <br />FINANCING AGREEMENT SIGNED AT TIME OF BID AWARD <br />Board Attorney Carolyn V. Pfotenhauer advised that the bid submitted <br />by the Sutphen Corporation, 7000 Columbus -Marysville Road, P.O. <br />Amlin, Ohio, was not on the proper State Board of Accounts forms. <br />Therefore, upon a motion made by Mr. Hill, seconded by Mr. Vance <br />and carried, the bid of the Sutphen Corporation was rejected. <br />