Resolution No 14-2019 - Eibel and Erskine Golfcart Lease through PNC Equipment Finance LLC

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Nk,%i� PNC AMENDMENT TO LEASE AGREEMENT NUMBER 1103481-3 This Amendment ("Amendment"), dated and effective as of April 2, 2019 is to that certain Lease Agreement Number 1103481-3 dated February 26, 2019 ("Lease") between CITY OF SOUTH BEND, with an address at 227 W. Jefferson Blvd., Suite 1200, South Bend, IN 46601 ("Lessee"), and PNC Equipment Finance, LLC, with an address at 995 Dalton Avenue, Cincinnati, OH 45203 ("Lessor"). In consideration of the mutual covenants contained herein and other valuable consideration received, and with the intent to be legally bound, the parties amend the Lease as follows: 1. The first and second sentences of Section 2 are deleted and replaced with the following: "Acceptance of the Equipment occurs upon delivery and inspection by Lessee. When Lessee receives the Equipment, Lessee agrees to inspect it and to verify by execution and delivery of Lessor's Certification of Acceptance.", 2. The seventh sentence of Section 3, First Paragraph (Rent) regarding the increase in rent of up to 15% is deleted in its entirety. 3. The first sentence of Section 10 is modified and amended by adding the following at the beginning of the sentence: "Upon prior written notice, 4. The first sentence of Section 11 is modified and amended by replacing "shipped to" with "accepted by". 5, Section 12 is deleted in its entirety and replaced with the following: Lessee agrees to (a) keep the Equipment fully insured against loss, naming Lessor as loss payee, and (b) obtain a maintain general public liability insurance policy covering both personal injury and property damage in amounts not less than Lessor may tell Lessee, naming Lessor as additional insured, until Lessee has met all Lessee's obligations under this Lease. Lessor acknowledges that Lessee is a municipal corporation organized under the laws of the State of Indiana, and is self- insured under provisions of Indiana statutes and local ordinance. Lessee maintains blanket insurance coverage over real and personal property, and is covered by a non -reverting insurance premium and liability reserve fund created by Lessee, Ordinance No. 6657-79, pursuant to Indiana Code 34-13-3-4, as amended from time to time. Lessor accepts Lessee's insurance coverage as adequate. Upon Lessor's request, Lessee agrees to provide Lessor with evidence of insurance acceptable to Lessor. 6. Section 16 is deleted in its entirety and replaced with the following: If (a) default occurs, (b) a non -appropriation of funds occurs in accordance with Section 3, or (c) Lessee does not purchase the Equipment pursuant to Section 15, Lessee will immediately return the Equipment to any location(s) in the continental United States within 500 miles of the Lessee and aboard any carriers(s) as Lessor may reasonably designate. The Equipment must be property packed for shipment in accordance with the manufacturer's recommendations or specifications, freight prepaid and insured, maintained in accordance with Section 7, and in "Average Saleable Condition." "Average Saleable Condition" means that all of the Equipment is immediately available for use by a third party buyer, user or lessee, other than Lessee named in this Lease, without the need for any repair or refurbishment. All Equipment must be free of markings beyond those incurred those normal wear and tear. Lessee will pay Lessor for any missing or defective parts or accessories. Lessee will continue to pay Rent until the Equipment is received and accepted by Lessor. Lessors agrees that acceptance shall not exceed 10 business days from date of shipping.. 7. Section 21 is deleted in itsentirety. 8. The last sentence of Section 23 is deleted in its entirety. 9, All other terms and conditions of the Lease shall remain unchanged and in full force and effect. Any defined terms used herein shall have the meanings contained in the Lease. IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the date above written.. CITY OF SOUTH BEND �................_--................. __ Authorized Signature ...... Printed Name Amendment to Lease Agreement (City of South Bend — April 2019) PNC EQUIPMENT FINANCE, LLC Authorized Signature - Printed Name