2020/02/24 Enterprise FM Trust Amendment to Master AgreementFLEET
MANAGEMENT Open-End (Equity) Lease Rate Quote Quote No:4586971
Prepared For: City of Menifee
Yun, Allen
Unit #
Yeat 2020 Make Ford Modol F-'150
Series XL 4x4 SuperCrew Cab Styleside 5.5 ft. box 145 in. WB
Vehicle Order Type Ordered Term 60 State CA Customer# 343096
Date 03/18/2020
AE/AM GJM
$ s0,442.00
$ 0.00
$ 0.00
$ 0.00
$ 325.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
Capitalized Price of Vehiclel
Sales Tax 0.0000% State CA
lnitial License Fee
Registration Fee
Other: (See Page2)
Capitalized Price Reduction
Tax on Capitalized Price Reduction
Gain Applied From Prior Unit
Tax on Gain On Prior
Security Deposit
Tax on lncentive( Taxable lncentive Total : $0.00 )
Total Capitalized Amount (Delivered Price)
Depreciation Reserve @ 1.3500o/o
Monthly Lease Charge (Based on lnterest Rate - Subject to a Floor)2
Total Monthly Rental Excluding Additional Services
Additional Fleet Management
Master Policy Enrollment Fees
Commercial Automobile Liability Enrollment
Liability Limit $0.00
Physical Damage Management
Full Maintenance Program3 Contract Miles 50,000
lncl: # Brake Sets (1 set = 1 Axle) q
Additional Services SubTotal
Sales Tax 8.7500o/o
Total Monthly Rental lncluding Additional Services
Reduced Book Value at 60 Months
Service Charge Due at Lease Termination
TITLE
All language and acknowledgments contained in the signod quote
apply to all vehicles that aro ordered under this signed quote.
Order lnformation
Driver Name
Exterior Color (0 P) Oxford White
lnterior Color (0 l) Medium Earth Gray wMnyl 40/20/40 Fron
Lic. Plate Type Unknown
GVWR O
Comp/Coll Deductible 0 / 0
OverMileage Charge $ 0.0000 Per Mile
# Tires 0 Loaner Vehicle Not lncluded
State CA
$ 30,767.00
$ 415.3s
$ 99.33
$ sl4.68
$ 0.00
$ 0.00
$ 41.29
$ 41.29
$ 45.03
LESSEE City of Menifee
BY
$ 601.00
$ 5,846.00
s 400.00
Quote based on estimated annual mileage of '10,000
(Current market and vehicle conditions may also affect value of vehicle)
(Quote is Subject to Customer's Credit Approval)
Notes
Open - End (Equity) Lease Agreement and shall have all rights and obligations of the Lessor under the Master Open - End (Equity) Lease Agreement with respect to such vehicle.
ALL TAX AND LICENSE FEES TO BE BILLED TO LESSEE AS THEY OCCUR
Lessee hereby authorizes this vehicle order, agrees to lease the vehicle on the terms set forth herein and in the Master Equity Lease Agreement and
agrees that Lessor shall have the right to collect damages in the event Lessee fails or refuses to accept delivery of the ordered vehicle.
Lessee certifies that it intends that more than 50% of the of the vehicle is to be in a trade or business of the Lessee.
fr\D^TE )1)
- INDICATES ITEMS TO BE BILLED ON DELIVERY
Rebates And/Or ln@ntives Have Been Used By Lessor to Redue the Capitalized Price of the Vehiclo.
2 Monthly Lease Charge VMll Be Adjusted to Reflec1 the lntmst Rate on the Delivery Date (Subject to a Flooo.
at the direction of Enterprise FM Trust. solely as an authorized agent for colleclion on b€half of Enterpris€ Fleot Management, lnc.
Printed On 0311812020 04:47 PM Page 1 of 8
!+,i"1!@ I I,:5:.t i,: M,,i Open-End (Equity) Lease Rate Quote Quote No: 4586971
Other Totals
Pricinq Plan Delivery Charqe C $ 125.00
Courtesy Delivery Fee C $ 200.00
Total Other Charges Billed $ 0.00
Total Other Charges Capitalized $ 325.00
Other Charges Total $ 325.00
Printed On 0311812020 04:47 PM Page 2 of 8
Descriotion (B)illed or (C)aooed Price
Printed On 0311812020 04:47 PM Page 3 of 8
EEEIT FLEET Quote No:4586971
AMENDMENT TO MASTER EQUITY LEASE AGREEMENT
THIS AMENDMENT TO MASTER EQUITY LEASE AGREEMENT (this "Amendment") is made and entered into as of the 24lh day of Feb, 2020, by and
between Enterprise FM Trust, a Delaware statutory trust ("Lessor") and City of Menifee ("Lessee").
WITNESSETH:
WHEREAS, Lessor and Lessee are parties to certain Master Equity Lease Agreement dated 21st day of Apr, 2015, as amended (the ",Agreement"; all
capilalized terms used and nol otheMise defined in this Amendment shall have the respective meanings ascribed to them in the Agreement as amended by this
Amendment); and
WHEREAS, Lessor and Lessee desire lo amend the Agreement in the manner hereinafter set forth;
NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Lessor and Lessee hereby agree as follows:
"l . Notwithstanding the second to last sentence of Section '1 of the Agreement, Lessor and Lessee hereby agree that, solely for federal, state and local
income tax purposes, the lease by Lessor to Lessee under the Agreement of following Vehicles (the "Specified Vehicles") will be treated as a conditional sale
rather than a true lease and that Lessee will be treated as the owner of the Vehicle solely for such income tax purposes:
Year Make Model Ouote #
2020 Ford F-1 50 4586971
The Agreement and this Amendment have the specific intent of creating a conditional sale rather than a true lease with respect to the vehicles listed above, and
by design, give appropriate consideration to tax statutes, Regulations, Court decisions, and IRS rulings and positions. ln recognition of that intent, each of Lessor
and Lessee hereby further agrees that it will not take any action or file any return or other document inconsistent with such tax treatment or with the ownership of
the Specified Vehicles by Lessee solely for such income tax purposes.
Notwithstanding the foregoing, or anything else in this Amendment, the Agreement or any Schedule to the contrary, and given the inherent uncertainty that exists
with respect to any advertised tax result or outcome, Lessee hereby acknowledges and agrees that Lessor makes no representation, warranty or covenant that
anytaxauthoritywill notassertacontrarypositionorassertthat (a)theleaseoftheSpecifledVehiclesbyLessortoLesseeisatrueleasefortaxpurposes,(b)
Lessee is not the owner of the Specified Vehicles for tax purposes and/or (c) Lessee is not entitled to claim any depreciation or recovery deduction for tax
purposes with respect to the Specified Vehicles. Lessee shall be solely liable for any and all costs and expenses, including, without limitation, any and all
attorneys'fees, incurred in contesting any such treatment ofthe lease ofthe Specified Vehicles as otherthan a conditional sale and shall keep Lessor informed,
in writing, of any dispute with any tax authority as to the tax treatment of the lease of the Specified Vehicles.
2. All references in the Agreement and in the various Schedules and addenda to the Agreement and any other references of similar import shall
henceforth mean the Agreement as amended by this Amendment. Except to the extent specitically amended by this Amendment, all of the terms, provisions,
conditions, covenants, representations and warranties contained in the Agreement shall be and remain in full force and effect and the same are hereby ratified
and confirmed,
lN WTNESS WHEREOF, Lessor and Lessee have executed this Amendment to Master Equity Lease Agreement as of the 24lh day ot Feb,2020
Enterprise FM Trust (Lessoo
By: Enterprise Fleet Management, lnc., its attorney in fact
City of Menifee ("Lessee")
By
Title:
Tara Ilalan Dioitallv sioned bv Tom Dolan By
Title:Fleel Maneoement AVP
Printed On 0311812020 04:47 PM Page 4 of I
=E@E I t.ot*%rnnr*, Open-End (Equity) Lease Rate Quote Quote No: 4586971
VEHICLE INFORMATION
2020 Fotd F-150 XL 4x4 SuperCrew Cab Styleside 5.5 ft. box 145 in. WB - US
Series lD: WIE
Pricing Summary:
INVOICE
$ 36,810.00
$ 1,575.00
$ 1,595.00
$ 39,9E0.00
Base Vehicle
Total Options
Destination Charge
Total Price
MSRP
$ 38,545.00
$ 1,730.00
$ 1,595.00
$ 41,870.00
SELECTED COLOR:
Exterior:
lnterior:
YZ - (0 P) Oxford \Mtite
AG - (0 l) Medium Earth Gray wNinyl 40120140 Front Seat
SELECTED OPTIONS:
CODE
'10'1A
145WB
446
50s
52P
60M
6lCLCD
61X91 K
64C
85A
8sAGTE
85AILL
85AMIR
8sAPAL
8sAPLK
8sAPWN
998
A
AG-02
PAINT
STDGV
STDRD
STDTR
x26
YZ_O'I
DESCRIPTION
Equipment Group 101A Mid
'145" Vvheelbase
Transmission: Electronic 6-Speed Automatic
Cruise Control
SYNC
FordPass Connect 4G Wi-Fi Modem
4.2" Productivity Screen in lnstrument Cluster
MyKey
Wheels: 17" Silver Steel
XL Power Equipment Group
Power Tailgate Lock
llluminated Entry
Power Glass Sideview Mirrors w/Black Skull Caps
Perimeter Alarm
Power Door Locks
Power Front & Rear Windows
Engine: 3.31 VG PFDI
Yinyl 40120140 Front Seat
(0 l) Medium Earth Gray Wvinyl 40120140 Front Seat
Monotone Paint Application
GVWR: 6,500 lbs Payload Package
Radio: AM/FM Stereo w/6 Speakers
Tires: P265/70R17 OWL A/T
3.73 Axle Ratio
(0 P) Oxford White
INVOICE
$ 1,575.00
STD
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
NC
NC
STD
lncluded
lncluded
lncluded
lncluded
NC
MSRP
$ 1,730.00
STD
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
lncluded
NC
NC
STD
lncluded
lncluded
lncluded
lncluded
NC
Printed On 0311812020 04.47 PM Page 5 of I
CONFIGURED FEATURES:
Body Exterior Features:
Number Of Doors 4
Rear Cargo Door Type: tailgate
Driver And Passenger Mirror: power remote manual folding side-view door mirrors
Convex Driver Mirror: convex driver and passenger mirror
Door Handles: black
Front And Rear Bumpers: black front and rear bumpers with black rub strip
Rear Step Bumper: rear step bumper
Front Tow Hooks: 2 front tow hooks
Box Style: regular
Body Material: aluminum body material
: trailering with harness
Grille: black grille
Convenience Features:
Air Conditioning manual air conditioning
Cruise Control: cruise control with steering wheel controls
Por rer Wndows: power windows with driver and passenger 1-touch down
Remote Keyless Entry: keyfob (all doors) remote keyless entry
llluminated Entry: illuminated entry
lntegrated Key Remote: integrated key/remote
Auto Locking: auto-locking doors
Remote Engine Start: remote engine start
Steering \Meel: steering wheel with manual tilting, manual telescoping
Day-Night Rearview Mirror: day-night rearview mirror
Emergency SOS: 911 Assist emergency communication system
Front Cupholder: front and rear cupholders
Glove Box: glove box
Driver Door Bin: driver and passenger door bins
Rear Door Bins: rear door bins
Dashboard Storage: dashboard storage
lP Storage: bin instrument-panel storage
Retained Accessory Power: retained accessory power
Power Accessory Outlet: 3 12V DC power outlets
Entertainment Features:
radio AM/FM stereo with seek-setn
Voice Activated Radio: voice activated radio
Steering Wheel Radio Controls: steering-wheel mounted audio controls
Speakers: 12 speakers
lnternet Access: FordPass Connect 4G LTE WFi internet access
1st Row LCD: 2 1st row LCD monitor
Wireless Connectivity: wireless phone connectivity
Antenna: fixed antenna
Lighting, Visibility and lnstrumentation Features:
Headlamp Type delay-off aero-composite halogen headlamps
Auto-Dimming Headlights: Ford Co-Pilot360 - Auto High Beam auto high-beam headlights
Cab Clearance Lights: cargo bed light
Front \Mpers: variable intermittent wipers
Tinted \Mndows: lighttinted windows
Dome Light: dome light with fade
Variable lP Lighting: variable instrument panel lighting
Display Type: analog display
Tachometer: tachometer
Voltometer: voltmeter
Compass: compass
Exterior Temp: outside-temperature display
Low Tire Pressure Warning: tire specific low-tire-pressure warning
Trip Computer: trip computer
Trip Odometer: trip odometer
Forward Collision Alerl: forward collision
Oil Pressure Gauge: oil pressure gauge
Printed On 031182020 04.47 PM Page 6 of I
Water Temp Gauge: water temp. gauge
lnclinometer: inclinometer
Transmission Oil Temp Gauge: transmission oil temp. gauge
Clock: in-radio display clock
Systems Monitor: systems monitor
Check Control: redundant digital speedometer
Rear Vision Camera: rear vision camera
Oil Pressure Warning: oil-pressure warning
Water Temp Warning: water-temp. warning
Battery Warning: battery warning
Lights On Warning: lights-on warning
Key in lgnition Warning: key-in-ignition warning
Low Fuel Warning: low-fuel warning
Bulb Failure Warning: bulb-failure warning
Door Ajar Warning: door-ajar warning
Brake Fluid Warning: brake-fluid warning
Safety And Security:
ABS four-wheel ABS brakes
Number of ABS Channels: 4 ABS channels
Brake Assistance: brake assist
Brake Type: four-wheel disc brakes
Vented Disc Brakes: fiont and rear ventilated disc brakes
Daytime Running Lights: daytime running lights
Spare Tire Type: full-size spare tire
Spare Tire Mount: underbody mounted spare tire dcrankdown
Driver Front lmpact Airbag: driver and passenger front-impact airbags
Driver Side Airbag: seatmounted driver and passenger side-impact airbags
Overhead Airbag: Safety Canopy System curtain 1st and 2nd rowoverhead airbag
Occupancy Sensor: front passenger airbag occupancy sensor
Height Adjustable Seatbelts: height adjustable front seatbelts
Seatbelt Pretensioners: front seatbelt pre{ensioners
3Point Rear Centre Seatbelt: 3 point rear centre seatbelt
Side lmpact Bars: side-impact bars
Perimeter Under Vehicle Lights: remote activated perimeter/approach lights
Tailgate/Rear Door Lock Type: tailgate/rear door lock included with power door locks
Rear Child Safety Locks: rear child safety locks
lgnition Disable: SecuriLock immobilizer
Security System: security system
Panic Alarm: panic alarm
Electronic Stability: AdvanceTrac w/Roll Stability Control electronic stability stability control with anti-roll
Traction Control: ABS and driveline traction control
Front and Rear Headrests: manual adjustable front head restraints
Rear Headrest Control: 3 rear head restraints
Seats And Trim:
Seating Capacity max. seating capacity of 6
Front Bucket Seats: front split-bench 40-20-40 seats
Number of Driver Seat Adjustments: 4-way driver and passenger seat adjustments
Reclining Driver Seat: manual reclining driver and passenger seats
Driver Fore/Aft: manual driver and passenger fore/aft adjustment
Front Centre Armrest Storage: front centre armrest
Rear Seat Type: rear 60-40 split-bench seat
Rear Folding Position: rear seat fold-up cushion
Leather Upholstery: vinyl front and rear seat upholstery
Headliner Material: full cloth headliner
Floor Covering: full vinyl/rubber floor covering
Cabback lnsulator: cabback insulator
Shift Knob Trim: urethane shifl knob
lnterior Accents: chrome interior accents
Standard Engine:
Engine 290-hp, 3.3-liter V-6 (regular gas)
Standard Transmission:
Printed On 0311812020 04.47 PM Page 7 of 8
Transmission 6-speed automatic w/ OD and PowerShift automatic
Printed On 0311812020 04:47 PM Page 8 of 8