2020/02/24 Enterprise FM Trust Amendment to Master Equity Lease (3)FLEET
MANAGEMENT Open-End (Equity) Lease Rate Quote Quote No:4587019
Prepared For: City of Menifee
Yun, Allen
Unit #
Year 2020 Mako Chevrolet Model Malibu
Series L 4dr Sedan
Vehicle Order Type Ordered Term 60 State CA Customer# 343096
Date 03/18/2020
AE/AM GJM
$ 18,947.9'1
$ 0.00
$ 0.00
$ 0.00
$ 32s.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
Capitalized Price of Vehiclel
Sales Tax 0.0000o/o 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
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 signed quote
apply to all vehicles that are ordered under this signed quote.
Order lnformation
Driver Name
Exterior Color (0 P) Summit Vvhite
lnterior Color (0 l) Dark Atmosphere/Medium Ash Gray w/Premi
Lic. Plate Type Unknown
GVWR O
Loaner Vehicle Not lncluded
State CA
$ 19,272.91
$ 260.18
62.76
$ 322.94
$ 0.00
$ 0.00
$ 36.97
qTires#
$ 36.97
$ 28.26
$ 388.17
$ 3,662.11
$ 400.00
LESSEE City of Menifee
BY
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 (rcCUR
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.
2lDATE / I
u
- INDICATES ITEMS TO BE BILLED ON DELIVERY
Rebat€s And/Or lncentaves Have Been Used By Lessor to Redue the Capitalized Prie of the Vehicle
2 Monthly Lease Charge Wll Be Adjusted to Reflect the lnterest Rate on the Delivery Date (Subject to a Floor).
at the direction of Enterprise FM Trust, solely as an authoflzed agent for collection on behalf of Enterprise Fleet Management, lnc
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Comp/Coll Deductible 0 / 0
OverMileage Charge $ 0.0000 Per Mile
-€nterprise FLEET
MANAGEMENT Open-End (Equity) Lease Rate Quote Quote No: 4587019
Other Totals
Pricing Plan Delivery Charge C $ 125.00
Courtesy Delivery Fee C $ 200.00
Total Other Charges Billed $000
Total Other Charges Capitalized $ 325.00
Other Charges Total $ 325.00
Printed On 0311812020 04:53 PM Page 2 of I
Descriotion (B)illed or (C)aooed Price
Printed On 0311812020 04:53 PM Page 3 of 8
FLEET
MANAGEMENT
Quote No:4587019
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
capitalized terms used and not otherwise 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 hereinafler 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 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 keated 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 Chevrolet Malibu 4587019
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
any tax authority will not assert a contrary position or assert that (a) the lease of the Specilied 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 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 Agreemenl as amended by this Amendment. Except to the extent specifically 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 of Feb, 2020
Enterprise FM Trust (Lessor)
By: Enterprise Fleet Management, lnc., its attorney in fact
City of Menifee ("Lessee")
(
By
Title:
Tom Dolon llioitallv sioneri hv Tom Dnlan By
Tifle:Fleel [\ranaoement AVP
Printed On 0311812020 04:53 PM Page 4 of 8
=@@p | [i5r%.r.*, Open-End (Equity) Lease Rate Quote Quote No:4587019
VEHICLE INFORMATION:
2020 Chevrolet Malibu L 4dr Sedan - US
Series lD: 12869
Pricing Summary:
Base Vehicle
Total Options
Destination Charge
Total Price
INVOICE
$ 22,072.91
$ 0.00
$ 875.00
MSRP
$ 22,095.00
$ 0.00
$ 875.00
$ 22,947.9'.1 $ 22,970.00
SELECTED COLOR:
Exterior:
lnterior:
GAZ - (0 P) Summit Vvhite
H 1 H - (0 l) Dark Atmosphere/Medium Ash Gray w/Premium Cloth Seat Trim
SELECTED OPTIONS:
CODE
1VL
A5'l
AG6
AH4
GAZ_o1
H1 H_01
roR
LFV
MRG
PAINT
QC7
R83
STDTM
UQF
DESCRIPTION
Preferred Equipment Group '1VL
Front Bucket Seats
6-Way Manual Front Passenger Seat Adjuster
6-Way Manual Driver Seat Adjuster
(0 P) Summit White
(0 l) Dark Atmosphere/Medium Ash Gray w/Premium Cloth Seat Trim
Radio: Chevrolet lnfotainment 3 System
Engine: 1.51 Turbo DOHC 4-Cylinder Dl wA/VT
Transmission: Continuously Variable (CW)
Monotone Paint Application
Wheels: '16" Aluminum
Tires: P205/65R'16 All-Season Blackwall
Premium Cloth Seat Trim
6-Speaker Audio System Feature
lNvotcE
NC
STD
lncluded
lncluded
NC
NC
STD
STD
STD
STD
STD
STD
STD
lncluded
MSRP
NC
STD
lncluded
lncluded
NC
NC
STD
STD
STD
STD
STD
STD
STD
lncluded
Printed On 0311812020 04:53 PM Page 5 of I
CONFIGURED FEATURES:
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: body-coloured
Front And Rear Bumpers: body-coloured front and rear bumpers
Body Material: fully galvanized steel body material
Grille: black w/chrome accents grille
Convenience Features:
Air Conditioning manual air conditioning
Air Filter: air filter
Cruise Control: cruise control with steering wheel controls
Trunk/Hatch/Door Remote Release: power cargo access remote release
Power \Mndows: power windows with ftont and rea|l-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
Passive Entry: proximity key
Trunk FOB Controls: keyfob trunUhatch/door release
Steering \Meel: steering wheel with manual tilting, manual telescoping
Day-Night Rearview Mirror: day-night rearview mirror
Emergency SOS: OnStar and Chevrolet connected services capable emergency communication system
Front Cupholder: front and rear cupholders
Floor Console: full floor console with covered box
Overhead Console: mini overhead console
Glove Box: glove box
Driver Door Bin: driver and passenger door bins
Seatback Storage Pockets: 2 seatback storage pockets
Driver Footrest: drive/s footrest
Retained Accessory Povver: retained accessory power
Power Accessory Outlet: 1 12V DC power outlet
Entertainment Features:
radio AM/FM stereo with seek-scan
Equalizer: automatic equalizer
Audio Thefl Deterrent: audio theft deterrent
Speed Sensitive Volume: speed-sensitive volume
Steering Vvheel Radio Controls: steering-wheel mounted audio controls
Speakers: 12 speakers
TV Tuner: OnStar Turn-by-Turn Navigation turn-by-turn navigation directions
1st Row LCD: 2 1st row LCD monitor
VVireless Connectivity: wireless phone connectivity
Antenna: integrated roof antenna
Lighting, Visibility and lnstrumentation Features:
Headlamp Type delay-off aero-composite halogen headlamps
Front \Mpers: variable intermittent wipers
Rear \Mndow Defroster: rear window defroster
Tinted Windows: light-tinted windows
Dome Light: dome light with fade
Front Reading Lights: front reading lights
Variable lP Lighting: variable instrument panel lighting
Display Type: analog display
Tachometer: tachometer
Low Tire Pressure Warning: tire specific low{ire-pressure waming
Trip Computer: trip computer
Trip Odometer: trip odometer
Water Temp Gauge: water temp. gauge
Clock: in-radio display clock
Systems Monitor: systems monitor
Check Control: redundant digital speedometer
Printed On 0311812020 04:53 PM Page 6 of 8
Rear Vision Camera: rear vision camera
Oil Pressure Warning: oil-pressure warning
Water Temp Warning: water-temp. warning
Battery Warning: battery warning
Low Coolant Warning: low-coolant warning
Lights On Warning: lights-on waming
Key in lgnition Warning: key-in-ignition warning
Low Fuel Warning: low-fuel warning
Low Washer Fluid Warning: low-washer-fluid warning
Door Ajar Warning: door-ajar warning
Trunk Ajar Warning: trunk-ajar warning
Brake Fluid Warning: brake-fluid warning
Turn Signal On Warning: turn-signal-on waming
Safety And Security:
ABS four-wheel ABS brakes
Number of ABS Channels: 4 ABS channels
Brake Assistance: brake assist
Brake Type: Duralife four-wheel disc brakes
Vented Disc Brakes: front 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: sealmounted driver and passenger side-impact airbags
Overhead Airbag: curtain 1st and 2nd row overhead airbag
Knee Airbag: knee airbag
Rear Side Airbag: rear side-impact-impact airbag
Occupancy Sensor: front passenger airbag occupancy sensor
Height Adjustable Seatbelts: height adjustable ftont seatbelts
Seatbelt Pretensioners: front seatbelt pre-tensioners
3Point Rear Centre Seatbelt: 3 point rear centre seatbelt
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
Tracker System: tracker system
Electronic Stability: StabiliTrak electronic stability
Traction Control: ABS and driveline traction control
Front and Rear Headrests: manual adjustable front head restraints
Rear Headrest Control: 2 rear head restraints
Seats And Trim:
Seating Capacity max. seating capacity of 5
Front Bucket Seats: front bucket seats
Number of Driver Seat Adjustments: 6-way driver and passenger seat adjustments
Reclining Driver Seat: manual reclining driver and passenger seats
Driver Height Adjustment: manual height-adjustable driver and passenger seats
Driver Fore/Aft: manual driver and passenger fore/aft adjustment
Front Centre Armrest Storage: front centre armrest wilh storage
Rear Seat Type: rear 60-40 bench seat
Rear Folding Position: rear seat fold-foMard seatback
Leather Upholstery: premium cloth front and rear seat upholstery
Door Trim lnsert: cloth door panel trim
Headliner Material: full cloth headliner
Floor Covering: full carpet floor covering
Dashboard Console lnsert, Door Panel lnsert Combination: cloth/metal-look instrument panel insert, door panel insert, console insert
Shift Knob Trim: urethane shifi knob
Floor Mats: carpet front and rear floor mats
lnterior Accents: chrome/metal-look interior accents
Cargo Space Trim: carpet cargo space
Trunk Lid: carpet trunk lid/rear cargo door
Printed On 0311812020 04:53 PM Page 7 of 8
Cargo Tie Downs: cargo tie-downs
Cargo Light: cargo light
Standard Engine:
Engine 160-hp, '1.S-liter l-4 (regular gas)
Standard Transmission:
Transmission 2-speed CVT w/ OD
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