|
INSURANCE ON FILE
<br />WORK MAY PROCEED
<br />UNTIL INSURANCE EXPIRES _ _ A-2024-018-01
<br />ST
<br />CITY CLERK FLEET MANAGEMENT
<br />DATE: JAN 2 9 2024
<br />D. rD Lt)
<br />LS-Go.nsgei'r^'�
<br />MASTER WALKAWAY LEASE AGREEMENT
<br />This Master Walkaway Lease Agreement is entered into this 6N_day of. 8f1U8rj/ , 20 24 , by and between Enterprise FM Trust, a Delaware statutory trust
<br />("Lessor"), and the lessee whose name and address is set forth on the signature page below ("Lessee"),
<br />1. LEASE OF VEHICLES: Lessor hereby leases to Lessee and Lessee hereby leases from Lessor the vehicles (individually, a "Vehicle" and collectively, the
<br />"Vehicles") described in the schedules from time to time delivered by Lessor to Lessee as set forth below ("Schedule(s)") for the rentals and on the terms and
<br />conditions set forth in this Agreement and in the applicable Schedule. References to this "Agreement" shall include this Master Walkaway Lease Agreement and the
<br />various Schedules and addenda to this Master Walkaway Lease Agreement, each of which are incorporated herein as part of a single unitary Agreement. Lessor will,
<br />on or about the date of delivery of each Vehicle to Lessee, send Lessee a Schedule covering the Vehicle, which will include, among other things, a description of the
<br />Vehicle, the lease term and the monthly rental and other payments due with respect to the Vehicle. The terms contained in each such Schedule will be binding on
<br />Lessee unless Lessee objects in writing to such Schedule within ten (10) days after the date of delivery of the Vehicle covered by such Schedule. Lessor is the sole
<br />legal owner of each Vehicle. This Agreement is a lease only and Lessee will have no right, title or interest in or to the Vehicles except for the use of the Vehicles as
<br />described in this Agreement. This Agreement shall be treated as a true lease for federal and applicable state income tax purposes with Lessor having all benefits of
<br />ownership of the Vehicles. It is understood and agreed that Enterprise Fleet Management, Inc. or an affiliate thereof (together with any subservicer, agent, successor
<br />or assign as servicer on behalf of Lessor, "Servicer") may administer this Agreement on behalf of Lessor and may perform the service functions herein provided to
<br />be performed by Lessor.
<br />2. TERM: The term of this Agreement ('Term") for each Vehicle begins on the date such Vehicle is delivered to Lessee (the "Delivery Date") and, unless terminated
<br />earlier in accordance with the terms of this Agreement, continues for the "Lease Term" as described in the applicable Schedule.
<br />3. RENT AND OTHER CHARGES:
<br />(a) Lessee agrees to pay Lessor monthly rental and other payments according to the Schedules, Closed -End (Walkaway) Lease Rate Quotes, and this
<br />Agreement. The monthly payments will be in the amount listed as the "Total Monthly Rental Including Additional Services" on the applicable Schedule (with any
<br />portion of such amount identified as a charge for maintenance services under Section 4 of the applicable Schedule being payable to Lessor as agent for Enterprise
<br />Fleet Management, Inc.) and will be due and payable in advance on the first day of each month. Lessee agrees to pay Lessor interest charges, in connection with
<br />the acquisition of a Vehicle, for the period between the date Lessor issues payment to acquire such Vehicle and the date the Vehicle is delivered to Lessee. Such
<br />interest charges shall be included in each Schedule. If a Vehicle is delivered to Lessee on any day other than the first day of a month, monthly rental payments will
<br />begin on the first day of the next month. In addition to the monthly rental payments, Lessee agrees to pay Lessor a pro -rated rental charge for the number of days that
<br />the Delivery Date precedes the first monthly rental payment date. Lessee agrees to pay Lessor the "Total Initial Charges" set forth in each Schedule on the due date
<br />of the first monthly rental payment under such Schedule. Lessee agrees to pay Lessor the "Service Charge Due at Lease Termination" set forth in each Schedule at
<br />the end of the applicable Term (whether by reason of expiration, early termination or otherwise).
<br />(b) The monthly rental rate allows the number of miles per month as set forth in the applicable Schedule. Lessee agrees to pay Lessor at the end of the
<br />applicable Term (whether by reason of expiration, early termination or otherwise) an excess mileage charge for any miles in excess of this average amount per month
<br />at the rate set forth in the applicable Schedule.
<br />(c) Any security deposit of Lessee will be returned to Lessee at the end of the applicable Term, except that the deposit will first be applied to and recouped against
<br />any losses and/or damages suffered by Lessor as a result of Lessee's breach of or default under this Agreement and/or to any other amounts then owed by Lessee
<br />to Lessor.
<br />(d) Any rental payment or other amount owed by Lessee to Lessor which is not paid within twenty (20) days after its due date will accrue interest, payable on
<br />demand of Lessor, from the date due until paid in full at a rate per annum equal to the lesser of (i) Eighteen Percent (18%) per annum or (ii) the highest rate permitted
<br />by applicable law (the "Default Rate").
<br />(a) If Lessee fails to pay any amount due under this Agreement or to comply with any of the covenants contained in this Agreement, Lessor, Servicer or any other
<br />agent of Lessor may, at its option, pay such amounts or perform such covenants and all sums paid or incurred by Lessor in connection therewith will be repayable
<br />by Lessee to Lessor upon demand together with interest thereon at the Default Rate.
<br />(0 Lessee's obligations to make all payments of rent and other amounts under this Agreement are absolute and unconditional and such payments shall be made
<br />in immediately available funds without setoff, counterclaim or deduction of any kind. Lessee acknowledges and agrees that neither any Casualty Occurrence to any
<br />Vehicle nor any defect, unfitness or lack of governmental approval in, of, or with respect to, any Vehicle regardless of the cause or consequence nor any breach by
<br />Enterprise Fleet Management, Inc. of any maintenance agreement between Enterprise Fleet Management, Inc. and Lessee covering any Vehicle regardless of the
<br />cause or consequence will relieve Lessee from the performance of any of its obligations under this Agreement, including, without limitation, the payment of rent and
<br />other amounts under this Agreement.
<br />(g) In the event Lessor, Servicer or any other agent of Lessor arranges for rental vehicle(s) with a subsidiary or affiliate of Enterprise Holdings, Inc., Lessee shall
<br />be fully responsible for all obligations under any applicable rental agreement.
<br />�oS
<br />Initials: EFM J� Customer
<br />
|