2020/02/24 Enterprise FM Trust Amendment to Master Equity LeaseFLEET
MANAGEMENT Open-End (Equity) Lease Rate Quote Quote No:4587002
Prepared For: City of Menifee
Yun, Allen
Unit #
Yeat 2020 Make Nissan Model Maxima
Series 3.5 S 4dr Sedan
Vehicle Ord6r Type Ordered Term 60 State CA Customer# 343096
Oate O3hAl2020
AE/AM GJM
$ 27,501.00
$ 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 Page 2)
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 @ 1.3500%
Monthly Lease Charge (Based on lnterest Rate - Subject to a Floor)2
$ 465.62 Total Monthly Rental Excluding Additional Services
All language and acknowledgments contained in the signed quote
apply to all vehicles that are ordered under this signed quote.
Order lnformation
Driver Name
Exterior Color (0 P) Pearl White Tricoat
lnterior Color (0 l) Charcoal Wcloth Seat Trim
Lic. Plate Type Unknown
GVU/R 0
Comp/Coll Deductible 0 / 0
OverMileage Charge $ 0.0000 Per Mile
# Tires 0 Loaner Vehicle Not lncluded
$ 27,826.00
$ 375.65
$ 89.97
$000
$ 0.00
$ 38.17
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 Axb) q
Additional Services SubTotal
Sales Tax 8.7500o/o
Total ll/lonthly Rental lncluding Additional Services
Reduced Book Value at 60 Months
Service Charge Due at Lease Termination
TITLE
State CA
$ 544.s3
$ 5,287.00
$ 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 Agreemenl 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 event Lessee fails or refuses to accept delivery of the ordered vehicle.
Lessee certifies that it intends that more than 50% of ofthe vehicle is to be in a trade or business ofthe Lessee.
$ 38.17
$ 40.74
LESSEE City of Menifee
BY D^r36b
, INDICATES ITEMS TO BE BILLED ON DELIVERY
Rebates And/Or lncentives Have Been Used By L€ssor to Reduce the Capitalized Price of the Vehicle.
2 lronthly Lease Charge Wll Be Adjusted to Reflect the lnterest Rate on the Delivery Date (Subject to a Flooo.
at the direction of Enterprise FM Trust, solely as an authorized agent for @llection on behalf of Enterprise Flet Managsment, lnc.
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!@@p I tlSr%.r.*, Open-End (Equity) Lease Rate Quote Quote No:4587002
Other Totals
Pricing Plan Delivery Charge $ 125.00
Courtesy Delivery Fee $ 200.00
Total Other Charges Billed $ 0.00
Total Other Charges Capitalized $ 325.00
Other Charges Total $ 325.00
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Descriotion {Blilled or (C)aooed Price
Printed On 0311812020 04:50 PM Page 3 of 8
EEEE FLEET Quote No:4587002
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 ("Lesso/') 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
capitalized terms used and not 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 to 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:
1. Notwithstanding the second to last sentence of Section 't 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 Quote #
2020 Nissan Maxima 4587002
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 consideratiQn 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
any tax authority will not assert a contrary position or assert that (a) the lease of the Specified Vehicles by Lessor to Lessee is a true lease for tax purposes, (b)
Lessee is not the owner of the Specified Vehicles for tax purposes and/or (c) Lessee is nol entitled to claim any depreciation or recovery deduction for tax
purposes with respect to the Specitied 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 of the lease of the 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 specifically amended by this Amendment, all of the terms, provisions,
conditions, covenanls, 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 of Feb, 2020
Enterprise FM Trust (Lessor)
By: Enterprise Fleet Management, lnc., its attorney in fact
City of Menifee ("Lessee")
By Tarz /)a/az [rigilally signed by Tom Dolan
Title: Fleet [Vtanaoement AVP
By
Tiile:
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EG@EI I t*i5r%rr.*, Open-End (Equity) Lease Rate Quote Quote No:4587002
VEHICLE INFORMATION
2020 Nissan Maxima 3.5 S 4dr Sedan - US
Series lD: 16010
Pricing Summary:
Base Vehicle
Total Options
Destination Charge
Total Price
lNvotcE
$ 31,976.00
$ 350.00
$ 925.00
MSRP
$ 34,250.00
$ 395.00
s 925.00
$ 33,251.00 $ 35,s70.00
SELECTED COLOR:
Exterior:
lnterior:
QAB - (0 P) Pearl Vvhite Tricoat
G - (0 l) Charcoal Mcloth Seat Trim
SELECTED OPTIONS:
DESCRIPTION
50 State Emissions
Premium Paint - Pearl White
(0 l) Charcoal w/Cloth Seat Trim
Monotone Paint Application
(0 P) Pearl White Tricoat
Engine: 3.51 DOHC 24-Valve V6
Radio: AM/FM/CD Audio System
Front Zero Gravity Seats
Cloth Seat Trim
Transmission: Xtronic Continuously Variable (CW)
Tires: P245l45R'l 8 V-Rated All-Season
Wheels: 18" Machined Alloy
INVOICE
NC
$ 350.00
NC
STD
NC
STD
STD
STD
STD
STD
STD
STD
MSRP
NC
$ 395.00
NC
STD
NC
STD
STD
STD
STD
STD
STD
STD
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CODE
c03
E10
G_03
PAINT
QAB-o1
STDEN
STDRD
STDST
STDTM
STDTN
STDTR
STDWL
Body Exterior Features:
Number Of Doors 4
Rear Cargo Door Type: trunk
Driver And Passenger Mirror: power remote manual folding side-view door mirrors
Door Handles: chrome
Front And Rear Bumpers: body-coloured front and rear bumpers
Body Material: galvanized steel/aluminum body material
Grille: black w/chrome accents grille
Exhaust Tip: chrome tip exhaust
Convenience Features:
Air Conditioning automatic dual-zone front air conditioning
Air Filter: air tllter
Console Ducts: console ducts
Cruise Control: cruise control with steering wheel controls
TrunuHatch/Door Remote Release: power cargo access remote release
Power \Mndows: power windows with driver and passenger 1{ouch down
Remote Keyless Entry: keyfob (all doors) remote keyless entry
llluminated Entry: illuminated entry
lntegrated Key Remole: integrated key/remote
Auto Locking: auto-locking doors
Passive Entry: proximity key
Valet Key: valet function
Trunk FOB Controls: keyfob trunldhatch/door release
\Mndow FOB Controls: remote window controls
Remote Engine Start: remote engine start
Steering Wheel: sport steering wheel with manual tilting, manual telescoping
Day-Night Rearview Mirror: day-night rearview mirror
Auto-dimming Rearview Mirror: auto-dimming rearview mirror
Driver and Passenger Vanity Mirror: illuminated auxiliary driver and passenger-side visor mirrors
Garage Door Opener: Homelink garage door transmitter
Front Cupholder: front and rear cupholders
Floor Console: full floor console with covered box
Overhead Console: mini overhead console with storage
Glove Box: locking glove box
Driver Door Bin: driver and passenger door bins
Rear Door Bins: rear door bins
Seatback Storage Pockets: 2 seatback storage pockets
lP Storage: covered bin instrument-panel storage
Driver Footrest: driver's footrest
Retained Accessory Power: retained accessory power
Power Ac@ssory Outlet: 1 12V DC power outlet
Entertainment Features:
radio SiriusXM AM/FM/Satellite with seek-scan, single in-dash CD player
MP3 Player: CD-MP3 decoder
Radio Data System: radio data system
Voice Activated Radio: voice activated radio
Speed Sensitive Volume: speed-sensitive volume
Steering Vvheel Radio Controls: steering-wheel mounted audio controls
Speakers: 16 speakers
1st Row LCD: 2 1st row LCD monitor
\Mreless Connectivity: wireless phone connectivity
Antenna: window grid antenna
Lighting, Visibility and lnstrumentation Features:
Headlamp Type delay-off aero-composite LED low beam headlamps
Auto-Dimming Headlights: High Beam Assist (HBA) auto high-beam headlights
Front Wipers: variable intermittent speed-sensitive wipers wipers
Rear \Mndow Defroster: rear window defroster
Tinted Wndows: lighttinted windows
Dome Light: dome light with fade
Front Reading Lights: front and rear reading lights
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CONFIGURED FEATURES:
Door Curb/Courtesy Lights: 2 door curb/courtesy lights
lgnition Switch: ignition switch light
Variable lP Lighting: variable instrument panel lighting
Display Type: analog display
Tachomeler: tachometer
Exterior Temp: outside-temperature display
Low Tire Pressure Warning: tire specific low-tire-pressure warning
Park Distance Control: rear parking sensors
Trip Computer: trip computer
Trip Odometer: trip odometer
Lane Departure Warning: lane departure
Blind Spot Sensor: blind spot
Front Pedestrian Braking: pedestrian detection
Forward Collision Alert: forward collision
Water Temp Gauge: water temp. gauge
Clock: in-radio display clock
Systems Monitor: systems monitor
Rear Vision Camera: rear vision camera
Oil Pressure Warning: oil-pressure 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
Low Washer Fluid Warning: low-washer-fluid warning
Bulb Failure Warning: bulbJailure warning
Door Ajar Warning: door-ajar warning
Trunk A.iar Warning: trunk-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: front and rear ventilated disc brakes
Daytime Running Lights: daytime running lights
Spare Tire Type: compact spare tire
Spare Tire Mount: spare tire mounted inside under cargo
Driver Front lmpact Airbag: driver and passenger front-impact airbags
Driver Side Airbag: seatmounted driver and passenger side-impact airbags
Overhead Airbag: curtain 1st and 2nd row overhead airbag
Knee Airbag: knee airbag
Rear Side Airbag: rear side-impacfimpact airbag
Occupancy Sensor: front passenger airbag occupancy sensor
Height Adjustable Seatbelts: height adjustable fronl seatbelts
Seatbelt Prelensioners: front seatbelt pre-tensioners
3Point Rear Centre Seatbelt: 3 point rear centre seatbelt
Fuel Flap Locking Type: locking fuel flap included with power door locks
Side lmpact Bars: side-impact bars
Perimeter Under Vehicle Lights: remote activated perimeter/approach lights
Rear Child Safety Locks: rear child safety locks
lgnition Disable: immobilizer
Security System: security system
Panic Alarm: panic alarm
Electronic Stability: electronic stability
Traclion 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 5
Front Bucket Seats: front bucket seats
Number of Driver Seat Adjustments: 8-way driver and passenger seat adjustments
Reclining Driver Seat: power reclining driver and passenger seats
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Driver Height Adjustment: power height-adjustable driver and passenger seats
Driver Fore/Aft: power driver and passenger fore/aft adjustment
Driver Cushion Tilt: power driver and passenger cushion tilt
Front Centre Armrest Storage: front centre armrest
Rear Seat Type: rear 6040 bench seat
Rear Folding Position: rear seat fold-fouard seatback
Rear Seat Armrest: rear seat centre armrest with slorage
Leather Upholstery: cloth front and rear seat upholstery
Door Trim lnsert: vinyl door panel trim
Headliner Material: full cloth headliner
Floor Covering: full carpet floor covering
Dashboard Console lnsert, Door Panel lnsert Combination: metallooldpiano black instrument panel insert, door panel insert, console insert
Shift Knob Trim: leather/piano black shifr knob
Leathersteeringvvheel: leather/metal-look steering wheel
lnterior Accents: chrome/metal-look interior accents
Cargo Space Trim: carpet cargo space
Trunk Lid: carpet trunk lid/rear cargo door
Cargo Light: cargo light
Standard Engine:
Engine 300-hp, 3.5liter V-6 (premium)
Standard Transmission:
Transmission 2-speed CW w/ OD and auto-manual
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