AMENDMENT NO. 01 TO MASTER LEASE AGREEMENT - LEASE NUMBER 02295 SCHEDULE NUMBER 01
SUNTRUST LEASING CORPORATION
AMENDMENT NO. 01
MASTER LEASE AGREEMENT
LEASE NUMBER 02295 Schedule No. 01
This AMENDMENT NO. 01 dated as of June 30, 2005 ("Amendment") is made by and between SUNTRUST LEASING
CORPORATION, as Lessor and CITY OF CLEARWATER, FL as Lessee.
Recitals
1. Lessee and Lessor entered into a Master Lease Agreement dated October 16,2003 (the "Agreement").
2. Pursuant to the Agreement, Lessor has financed the acquisition of Police Vehicles for Lessee,
3. The vehicles currently subject to the Agreement, the "Original Vehicles", as identified by the vehicle identification
numbers listed below, were traded by the Lessee:
2003 Ford Crown Victoria VIN# 2FAFP7W13X101674
4. The Lessee desires to replace the "Original Vehicles" with other vehicles, the "New Vehicles" as identified by the
vehicle identification numbers below:
2005 Ford Crown Victoria VIN # 2FAFP71WI5XI43992
The "New Vehicles" are similar in nature as to usage to the "Original Vehicles".
5. Lessor has approved the substitution of the "New Vehicles" for the "Original Vehicles".
NOW THEREFORE, in consideration of the mutual covenants contained herein, Lessor and Lessee hereby agree as follows:
1. Lessor hereby releases all of its right, title and interest in the "Original Vehicles" to Lessee without recourse or
warranty of any kind.
2. Lessee hereby agrees and acknowledges that Lessee is the legal owner of all rights, title and interest in and to the
"New Vehicles" and hereby grants to Lessor a continuing first security interest in the ''new Vehicles".
3, Lessee represents and warrants that:
(a) The "New Vehicles" are similar in function, service and use to the "Original Vehicles" and are of equal or
greater value to the "Original Vehicles".
(b) The "New Vehicles" are free from any liens or encumbrances of any kind whatsoever except the security
interest granted to Lessor thereunder.
4. Lessee agrees to do all acts, including making application for title for the ''New Vehicles" and execute all
documents reasonably necessary to protect Lessor's security interest, and perfect the security interest of Lessor in
the "New Vehicles".
5. The "Original Vehicles" are hereby released from the Agreement and the ''New Vehicles" are substituted thereto
and are subject to the Agreement therefore.
6. Except as expressly modified hereby, all terms and provisions of the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, Lessee and Lessor have caused this Amendment to be executed by their duly authorized representative
as of the date first above written.
SUNTRUST L ASING CORPORATION,
Lessor
By:
Name:
Title:
CITY OF CLEARWATER, FL
Lessee
By: ~ J1c...-
Name: Margar L. Simmons
Title: Finance Director
This is counterpart No, 2 of 2 serially numbered, manually executed counterparts of
this document. Possession of Counterpart No, lonly, without the need to transfer
possession of any other original or counterpart or copy of this Lease Agreement or
any original or counterpart or copy of any exhibits, addenda, schedules, certificates,
riders or other documents and instruments executed and delivered in connection
with this Lease Agreement.