ADDENDUM TO THE MASTER LEASE AGREEMENTThe Bancor
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Addendum to the Master Lease Agreement
409 Silverside Road
Suite 105
Wilmington, DE 19809
o +1 302.385.5000
f +1 302.385.5194
thebancorp.com
This is an addendum to Master Lease Agreement, dated 19th of September, 2013 between
The Bancorp and the City of Clearwater
Now Therefore, it is mutually agreed by and between the parties that the Master Lease
Agreement is hereby amended as follows:
1. The maximum outstanding balance on the lease line shall not to exceed $45MM
2. All items subject to disbursements must have a unique identifiable number that would be able
to be distinguished as different from similar items ( I.E. VIN, Serial)
3. Once the original draw request has been reached ($24,728,010), the original CMT chart in the
Master Lease Agreement would change to the below for new requests. I.E if the current 3 year
CMT on the day of request is 1.43% then the CMT would be 2.43% resulting in the applicable
interest rate for the new CMT (1.43% + 1.00 %)
3 Year CMT Rate
Rate
5 Year CMT Rate
Rate
Under 2%
2 % -3%
3 %-4%
% % -5%
5 %-6% Over 6%
3 Year CMT+ 1.00%
3 Year CMT + 1.00%
3 Year CMT+ 1.00%
3 Year CMT + 1.00%
3 Year CMT + 1.00%
Under 2%
2 % -3%
3 %-4%
4 % -5%
5 % -6% Over 6%
N/A
N/A
N/A
N/A
N/A
In Witness Whereof, the Parties have caused this Addendum to be executed by their duly
authorized officers this 20th day of January, 2017
The Bancorp Bank
(Lessor)
City of Clearwater
(Lessee)
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By: please see attached
Name: `� %eA et-t 5 -�2 Name:
%CP Title: Title:
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Addendum to Master Lease Agreement Bancorp Bank d /b /a Mears Motor
Leasing
Countersigned:
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George N. Cretekos
Mayor
Approved as to form:
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Pame a K. Akin
City Attorney
CITY OF CLEARWATER, FLORIDA
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By: L&) - �Y.c -wa.�A
William B. Horne II
City Manager
Attest:
Rosemarie Call
City Clerk