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City of South Bend <br />Request for Proposals —Tax Exempt Municipal Lease Financing- Lease Purchase Financing <br />April 30, 2018 <br />LEGAL TITLE: Legal title to the equipment during the lease term shall vest in the <br />Lessee, with Lessor perfecting a first security interest through uniform <br />commercial code filing or any other such instruments as may be <br />required by law. Upon performance of the terms and conditions of the <br />Agreement, the Lessee shall have the option to purchase all equipment <br />for $1.00. <br />DOCUMENTATION: Lessor shall provide the Agreement. Lessor recommends a Lease <br />Schedule under the existing Master Equipment Lease -Purchase <br />Agreement dated May 15, 2012 as executed between Lessee and Lessor <br />for this transaction. <br />PREPAYMENT OPTION: So long as Lessee is not in default of the Agreement, Lessee shall have <br />the option of paying off this transaction according to the Termination <br />Values listed on the Amortization Schedules as provided in this <br />Proposal. Partial prepayments will not be permitted under this <br />Agreement. <br />PROPOSAL EXPIRATION: This Proposal will automatically expire at the end of business on June <br />15, 2018 unless accepted in writing by Lessee or extended in writing by <br />Lessor. The Agreement must be fully executed and to the satisfaction of <br />Lessor by such date. After May 18, 2018, Lessor reserves the right to <br />adjust the interest rate according to the Indexed Financing Rate. <br />This Proposal is subject tofinal credit approval by Lessor and approval of Agreement in Lessor's sole discretion. <br />To render a credit decision, Lessee shall provide Lessor with its two most recently audited financial statements <br />and a copy of its most current year's budget. <br />trust that you will find the contents of this Proposal to your satisfaction, If you should have any questions please <br />contact me at 614-463-6580 or toll free at 866-215-9619 ext. 2. <br />Sincerely, <br />PNC Equipment Finance, LLC <br />Alan zuelke <br />Vice President <br />PNC Equipment Finance, LLC <br />155 E. Broad Street <br />Columbus, OH 43215 <br />