Exhibit 99(b)
Rental Schedule No. D-3RN1
Amendment No. 1
Page 1 of 2
August 27, 1997
Equis Financial Group
00 Xxxxx Xxxxxxxxxx Xxxxxx
Xxxxxx, XX 00000
Rental Schedule No. D-3 dated July 8, 1992 by and between AFG Investment Trust
A, as managed by Equis Financial Group Limited Partnership ("Equis") with
remittance to be made to Equis, ("Lessor") and General Motors Corporation
("Lessee") is hereby amended as follows:
Equis Financial Group will manage this Rental Schedule and the assets assigned
hereunder. All payments are to be remitted to the following address: Equis
Financial Group, P0 Box 360178, Xxxxxxxxxx, XX 00000.
The Purchase Order Number assigned to this Rental Schedule by General Motors is:
_______________.
Effective October 1, 1997 Lessee elects to extend the lease of the equipment
listed on the attached Schedule B for an additional thirty-six (36) months at a
Monthly Rental Charge of $2,500.00. The Stipulated Loss Value for the Equipment
during the Renewal Lease Term shall be equal to fifty-five percent of the
original equipment cost for each item of equipment.
Except as provided for in this Amendment No. 1, all other terms and conditions
heretofore in effect remain unchanged. In the event of a conflict between the
terms and conditions of this Lease and this Amendment, the terms and conditions
of this Amendment shall prevail.
GENERAL MOTORS CORPORATION AFG INVESTMENT TRUST A
POWERTRAIN GROUP By: AFG XXXX Corporation
Title: Managing Trustee
By: /s/ Xxxxxx X. Xxxxx By: /s/ Xxxx X. Xxxxxx
-------------------- ---------------------
Name: Xxxxxx X. Xxxxx Name: Xxxx X. Xxxxxx
------------------ -------------------
Title: Buyer Title: Vice-President
----------------- ------------------
Date: 9-2-97 Date: 9-8-97
------------------ -------------------
Counterpart No. 1 of 2 manually serial number executed counterparts. To the
extent that this Rental Schedule No. D-3RN1 constitutes chattel paper under the
Uniform Commercial Code, no security interest in this Lease may be created
through the transfer and possession of any Counterpart other than Counterpart
No. 1.
LLR41D-01 EQUIS FINANCIAL GROUP 8/27/97 10:00:06 PAGE 1
Schedule B Equipment Description
RENTAL SCHEDULE AND ACCEPTANCE CERTIFICATE NUMBERS: D-3RN1
LESSEE: GENERAL MOTORS CORPORATION
LESSOR: EQUIS FINANCIAL GROUP
Acceptance
Equipment Cost Serial Number Year Manufacturer Model Type Date
----------------------------------------------------------------------------------------------------------------------
209,916.00 828BC00422 VME MICHIGAN L-190B WHEEL LOADER 10/01/1997
-------------------
209,916.00 Total for Location XXXXXXX XXXXXXXXX XXXXX XXXXXXX XX 00000
-------------------
-------------------
209,916.00 Total Equipment Cost
L2R13D EQUIS FINANCIAL GROUP 8/27/97 9:03:18 PAGE 1
ASSET ACTIVITY CHECKLIST REPORT
PREPARED BY: XXXXX XXXXX
APPROVALS: /s/ GDO /
--------------- --------------
(X) RENEWAL LEASE ( ) CASUALTY AT STIPULATED LOSS VALUE
( ) SALE TO ORIGINAL USER ( ) EARLY TERMINATION
( ) SALE TO THIRD PARTY USER ( ) WAREHOUSE OF ASSETS
( ) OTHER ______________________________
PRIMARY TERM DATA
ORIGINAL LESSEE GENERAL MOTORS CORPORATION
STREET ADDRESS 1 POWERTRAIN DIVISION
XXXXXX XXXXXXX 0 XX XXX 0000
XXXX, XXXXX, ZIP SAGINAW MI 000000000
CONTACT NAME XXXXX X XXXXXXX
PHONE NUMBER 000-000-0000 FAX NUMBER 000-000-0000
MASTER LEASE NUMBER 9205MIG459
LEASE DATE 5/27/1992
RENTAL SCHEDULE D-3
START DATE 8/01/1992
EXPIRATION DATE 7/31/1997
PAYMENT FREQUENCY M/ADV
LEASE RATE FACTOR .017854000
ASSUMED DEBT RATE 7.1000
TREASURY RATE 5.60
LENDER/LOAN NUMBER
EQUITY OWNER(S) 1071
100.000000000
1 ( ) ORIGINAL TITLES 3 ( ) STOP XXXX FORM
2 (X) PRODUCE IRR REPORT 4 ( ) COLLATERAL DOCS REQUESTED
I. WAREHOUSE DATA (SEE ATTACHED EQUIPMENT LIST)
WAREHOUSE COST $__________________
DATE WAREHOUSED ___________________ STOP XXXX DATE _________________
L2R13D EQUIS FINANCIAL GROUP 8/27/97 9:03:18 PAGE 2
ASSET ACTIVITY CHECKLIST REPORT
II. EQUIPMENT SALE DATA (SEE ATTACHED EQUIPMENT AND PRICE LIST)
NEW LESSER OR BUYER
XXXXXX XXXXXXX 0
XXXXXX XXXXXXX 2
CITY, STATE, ZIP
CONTACT NAME
PHONE NUMBER FAX NUMBER
SALE TYPE ES LB OS RB
TAX EXEMPTION STATUS YES NO EXEMPTION NUMBER
TOTAL SALE PRICE $__________________ BROKERAGE FEE $_______________
SALE DATE/STOP XXXX DATE __________________
1 ( ) CREATE MEMO CODE 6 ( ) CHANGE MEMO CODE
2 ( ) AS/400 INPUT 7 ( ) DELIVERY INSTRUCTIONS
3 ( ) MISCELLANEOUS INVOICE S ( ) REMOVE RS COUNTERPART IF ALL ASSETS SOLD
4 ( ) PRODUCE DOCUMENTS/SEND TO BUYER 9 ( ) PREP FOR SCANNING
5 ( ) RECEIPT OF PAYMENT 10 ( ) FINAL DOCUMENTS TO BUYER
III. RENEWAL DATA (ATF MAY NEED TO BE CREATED)
NEW RENTAL SCHEDULE D-3RN1 TERM 36
------------------- ----------------
START DATE 10/01/97 EXPIRATION DATE 9/30/00
------------------- ----------------
PAYMENT FREQUENCY M/ADV[CIRCLED] Q/ADV S/ADV M/ARR Q/ARR S/APR A/ARR
STIPULATED LOSS VALUE $ 115,453.80 = 55% LRF/RENT $2,500.00 = .011909526
------------------- ----------------
SEND DOCUMENTS TO LESSEE END OF LEASE OPTIONS Renew, Return, Purchase
------------------- ----------------
1 (X) AS/400 INPUT 5 (X) ACTIVATION REPORT
2 (X) UPDATE EQUITY OWNER 6 (X) PREP FOR SCANNING
3 (X) PRODUCE DOCUMENTS/SEND TO LESSEE 7 (X) FINAL DOCUMENTS TO LESSEE mailed 9/10/97
4 (X) REQUEST UPDATED INSURANCE
IV. NOTES, COMMENTS AND OTHER INFORMATION
Lessee has early termination right @ 58% of OEC
-----------------------------------------------
-----------------------------------------------
L2R14D EQUIS FINANCIAL GROUP 8/27/97 9:03:26 PAGE 1
ASSET ACTIVITY REPORT - EQUIPMENT DESCRIPTION
LESSEE: GENERAL MOTORS CORPORATION
RENTAL SCHEDULE: D-3
Asset Equipment Cost Serial Number Manufacturer Model Type Status Xxxx Xxxx
--------------------------------------------------------------------------------------------------------------------------
0005526 267,894.00 324TDC-74672 VME MICHIGAN R-35 DUMP TRUCK LEASE MI004
0005527 209,916.00 828BC00422 VME MICHIGAN L-190B WHEEL LOADER LEASE MI004
----------------
477,800.00 Total for Location XXXXXXX XXXXXXXXX XXXXX XXXXXXX XX 00000 CODE MI004
----------------
----------------
477,800.00 Total Equipment Cost
** END OF REPORT **
Print Key Output Page 1
5763SS1 V3R2MO 960517 AFGBOS50 08/27/97 09:20:17
Display Device ........: DLUCCIS2
User...................: DLUCCI
L2S10B-02 Internal Rate of Return Inquiry 8/27/97 9:19:25
Lessee code .... : GMCPD Primary rents ..... : 511,895.40
Rental schedule : D-3 Renewal rents ..... : 90,000.00
Start date ..... : 8/01/1992 Interim billing ... : 8,643.47
Expiration date : 10/01/2000 Continuous billing : 8,531.60
Original OEC ... : 477,800.00 Misc. billing ..... : .00
Current OEC .... : 477,800.00 Disposals ......... : .00
IRR ............ : 8.348 %
Projected Revenue
Start date ...... 10/01/2000 End date .......... :
Periodic payment .00 Number of payments 0
Disposal proceeds .00 Advance/Arrears ... V=Adv R=Arr
Billing frequency M=Monthly, Q=Quarterly, S=Semi-Annual, A=Annual
Projected IRR ....... : .000 %
F1=Help F3=Exit F12=Cancel
[GM LOGO] POWERTRAIN
August 22, 1997
Xxxxx X. Xxxxx
Equis Financial Group
00 Xxxxx Xxxxxxx
Xxxxxx, XX 00000
Re: Schedule D-3
Michigan Wheel Loader
Dear Xxxx:
I have received your response to my target letter of August 14, 1997 for the
above referenced equipment. In light of the fact that Equis has made an
exception to renew only a portion of this schedule contrary to the Master Lease
agreement, General Motors is willing in this case to accept your initial
proposal for a renewal rate of $2500 per month.
Please proceed accordingly to process the necessary paperwork to renew this
schedule effective 8-1-97. Please call me if you have any questions.
Sincerely,
/s/ Xxxxxx Xxxxx
Xxxxxx Xxxxx
Buyer
GM Worldwide Purchasing-Indirect/M&E
GM POWERTRAIN GROUP o General Motors Corporation o 000 Xxxx Xxxxxxxx
x Xxxxx, Xxxxxxxx 00000
Xxxxx Bainbridge________________________________________________________________
Asset Management Consulting
August 19, 1997
Xxxxxx XxXxxxx
Equis Financial Group
00 Xxxxx Xxxxxx
Xxxxxx XX 00000
Invoice
Re: GM Power Train Division Lease Terminations for Sept 30, 1997
For professional services rendered:
Travel to Saginaw, MI for inspection, evaluation and deferred
maintenance estimate. Inspect two units (1) 92 Michigan L-190
S/No. 828BC00422 & (2) 92 Euclid R-35 S/No. 324TDC74672.
Discussion of deferred maintenance. Return to office for
research and report $2,250.00
Expenses $1,079.50
Total: $3,329.50
Please pay invoice within 15 days of receipt
Thank you for the opportunity to be of service
00 Xxxxxxxxxx Xxxx Xxxx x Xxxxxx Xxxx Xxxxxx, XX 00000 o 000-000-0000
o FAX 000-000-0000
RENTAL SCHEDULE
AND
ACCEPTANCE CERTIFICATE
NO. A--25
This RENTAL SCHEDULE AND ACCEPTANCE CERTIFICATE, dated as of November 11, 1991,
between American Finance Group ("Lessor") and General Motors Corporation
("Lessee") incorporates by reference the terms and conditions of Master Lease
Agreement No. 9002MIG399 dated as of April 17, 1990 (the "Master Lease"). Lessor
hereby leases to Lessee and Lessee hereby leases from Lessor the following
described items of Equipment for the Lease Term and at the Basic Rent payable on
the Payment Dates hereinafter set forth, on the terms and conditions set forth
in the Master Lease.
1. EQUIPMENT
Description
(Manufacturer,
Item Type, Model and Equipment Redelivery Acceptance
Qty Serial Number) Cost Charge Location Date
---- ---------------------- --------- ---------- -------- ----------
20 Xxxxxxx Forklifts $610,418.00 $39,554.89 See Attached
as further described Schedule A
on the attached
Schedule A and
vendor Invoices
Total Equipment Cost: $610,418.00
Total Redelivery Charge: $39,554.89
TOTAL RENT BASE COST: $649,972.89
-----------
Lessee Billing Location: Xxxxxxx Xxxx, Service Parts Operations,
General Motors Corporation, 0000 X. Xxxxxxx
Xxxxx, XX 00000-0000
2. LEASE TERM
The Lease Term is for an Interim Term commencing on the date of acceptance of
the Equipment for lease, as set forth above, and continuing through and
including November 30, 1991 and for a Primary Term of 60 months, commencing on
December 1, 1991 and continuing through and including the Expiration Date of
November 30, 1996.
3. BASIC RENT. FILING FEES. PAYMENT DATES.
Interim Term Basic Rent is due and payable in full on the first day of the
Primary Term. Basic Rent for the Primary Term is due and payable in 60 payments
of $11,301.34 each commencing on December 1, 1991 and continuing monthly in
advance thereafter, through and including November 1, 1996. Lessee shall also
pay to Lessor $60.00 as reimbursement for fees owed by Lessor relating to
Uniform Commercial Code Financing Statements to be filed in connection with the
acquisition of the Equipment. Such fees shall be due and payable on December 1,
1991.
RENTAL SCHEDULE
AND
ACCEPTANCE CERTIFICATE
NO. A-25
PAGE TWO
Interim Term Basic Rent is computed by multiplying the Total Rent Base
Cost by the Per Diem Lease Rate set forth below and multiplying the product by
the number of days in the Interim Term. Primary Term Basic Rent is computed by
multiplying the Total Rent Base Cost by the Periodic Lease Rate set forth below.
Per Diem Lease Rate: .0005796
Periodic Lease Rate: .0178374
4. SPECIAL RETURN CONDITIONS
In furtherance, and not in limitation of, the use, maintenance and return
conditions for the Equipment set forth in Section 11 of the Master Lease, Lessee
hereby agrees to return the Equipment to Lessor in accordance with all of the
terms and conditions of the Master Lease and in compliance with the following
special return conditions:
1. When loaded to its rated capacity, each Unit shall:
(a) Start under its own power and idle without water or fuel
leaks.
(b) Move through its normal speed ranges in both forward and
reverse, in normal operating manner.
(c) Steer normally right and left in both forward and reverse.
(d) Be able to stop with its service brakes within a safe
distance, in both forward and reverse.
(e) Lift, lower, and tilt normally with and without a load a
minimum of three (3) times. Carriage, lift chains and channel
assembly shall be in working condition, normal wear and tear
excepted.
(f) Electric trucks, if purchased with batteries, must be returned
with batteries that are capable of sustaining a charge that
will permit use of the equipment based on GMSPO average
application for a given Unit for a four (4) hour shift.
2. Each Unit's attachment(s), if any, shall perform all of its required
functions, and each Unit's horn, parking brake, and lights shall be
operational.
3. Each tire for each Unit shall have at least twenty-five percent
(25%) remaining tread.
4. Each Unit shall be complete with all originally-installed parts and
pieces or suitable substitutes therefor.
RENTAL SCHEDULE
AND
ACCEPTANCE CERTIFICATE
NO. A-25
PAGE THREE
5. ACCEPTANCE CERTIFICATE
Lessee hereby represents, warrants and certifies (a) that the Equipment
described herein has been delivered to and inspected and found satisfactory by
Lessee and is accepted for Lease by Lessee under this Rental Schedule and the
Master Lease as incorporated herein by reference, as of the Acceptance Date set
forth above; (b) all items of Equipment are new and unused as of the Acceptance
Date, except as otherwise specified above, and (c) the representations and
warranties of Lessee set forth in the Master Lease are true and correct as of
the date hereof.
6. ENTIRE AGREEMENT. MODIFICATION AND WAIVERS. EXECUTION IN COUNTERPARTS.
This Rental Schedule and the Master Lease constitute the entire agreement
between Lessee and Lessor with respect to the leasing of the Equipment. To the
extent any of the terms and conditions set forth in this Rental Schedule
conflict with or are inconsistent with the Master Lease, this Rental Schedule
shall govern and control. No amendment, modification or waiver of this Rental
Schedule or the Master Lease will be effective unless evidenced by a writing
signed by the party to be charged. This Rental Schedule may be executed in
counterparts, all of which together shall constitute one and the same
instrument.
IN WITNESS WHEREOF the parties hereto have caused this Rental Schedule and
Acceptance Certificate to be executed and delivered by their duly authorized
representatives as of the date first above written.
AMERICAN FINANCE GROUP GENERAL MOTORS CORPORATION
Lessor Lessee
By /s/ [ILLEGIBLE] By /s/ [ILLEGIBLE]
------------------------------ ------------------------------
Title Vice President Title Sr. Buyer
--------------------------- ---------------------------
By /s/ [ILLEGIBLE]
------------------------------
Director, Supplier
Title Development/Purchasing
---------------------------
COUNTERPART NO 2 OF 3 SERIALLY NUMBERED MANUALLY EXECUTED COUNTERPARTS. TO THE
EXTENT IF ANY THAT THIS DOCUMENT CONSTITUTES CHATTEL PAPER UNDER THE UNIFORM
COMMERCIAL CODE, NO SECURITY INTEREST MAY BE CREATED THROUGH THE TRANSFER AND
POSSESSION OF ANY COUNTERPART OTHER THAN COUNTERPART NO. 1
3228i/3
03/91 General Motors Corporation Page 1
Schedule A
Vendor Name Invoice number P.O. Number Unit cost Serial Number Eqpt. Manufacturer Eqpt. Model
------------------------ -------------- ----------- ----------- ------------- ------------------ -----------
1,744.19
1,744.19
5,813.95
30,252.56
Xxxxxxxx & Associates In 804716 11393AFG-G 28,925.38 15205714 Xxxxxxx 152-0PC30TT
Xxxxxxxx & Associates In 804716 11393AFG-G 28,925.38 15205715 Xxxxxxx 152-0PC30TT
Xxxxxxxx & Associates In 804716 11393AFG-G 28,925.38 15205716 Xxxxxxx 152-0PC30TT
Xxxxxxxx & Associates In 804716 11393AFG-G 28,925.38 15205717 Xxxxxxx 152-0PC30TT
Xxxxxxxx & Associates In 804716 11393AFG-G 28,925.38 15205718 Xxxxxxx 152-0PC30TT
Xxxxxxxx & Associates In 804716 11393AFG-G 28,925.38 15205719 Xxxxxxx 152-0PC30TT
Xxxxxxxx & Associates In 804716 11393AFG-G 28,925.38 15205720 Xxxxxxx 152-0PC30TT
Xxxxxxxx & Associates In 804716 11393AFG-G 28,925.38 15205721 Xxxxxxx 152-0PC30TT
Xxxxxxxx & Associates In 804716 11393AFG-G 28,925.38 15205722 Xxxxxxx 152-0PC30TT
Xxxxxxxx & Associates In 804716 11393AFG-G 28,925.38 15205723 Xxxxxxx 152-0PC30TT
Xxxxxxxx & Associates In 804716 11393AFG-G 28,925.38 15205724 Xxxxxxx 152-0PC30TT
Xxxxxxxx & Associates In 804716 11393AFG-G 28,925.38 15205725 Xxxxxxx 152-0PC30TT
Xxxxxxxx & Associates In 804716 11393AFG-G 28,925.38 15205726 Xxxxxxx 152-0PC30TT
Xxxxxxxx & Associates In 804718 11393AFG-C 43,648.00 06004831 Xxxxxxx 000-X0-XX
Xxxxxxxx & Xxxxxxxxxx Xx 000000 11393AFG-J 48,357.00 04005004 Xxxxxxx 000-X00XX
Xxxxxxxx & Associates In 804802 11393AFG-A 28,476.60 16205730 Xxxxxxx 162-IS0P30TT
Xxxxxxxx & Associates In 804802 11393AFG-A 28,476.60 16205731 Xxxxxxx 162-IS0P30TT
Xxxxxxxx & Associates In 804802 11393AFG-A 28,476.60 16205732 Xxxxxxx 162-IS0P30TT
Xxxxxxxx & Associates In 804802 11393AFG-A 28,476.60 16205733 Xxxxxxx 162-IS0P30TT
Xxxxxxxx & Associates In 804802 11393AFG-A 28,476.60 16205734 Xxxxxxx 162-IS0P30TT
-----------
$649,972.83 = Total Cost per Rental Schedule A-25
Vendor Name Invoice number Eqpt. Type City State Acceptance Date R.S.#
------------------------ -------------- ----------------- ------------- ----- --------------- -------
REDELIVERY CHARGE Pontiac MI 12/01/91 A-25
REDELIVERY CHARGE Lansing MI 12/01/91 A-25
REDELIVERY CHARGE Martinsburg WV 12/01/91 A-25
REDELIVERY CHARGE Pontiac MI 12/01/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Pontiac MI 11/11/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Pontiac MI 11/11/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Pontiac MI 11/11/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Pontiac MI 11/11/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Pontiac MI 11/11/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Pontiac MI 11/11/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Pontiac MI 11/11/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Pontiac MI 11/11/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Pontiac MI 11/11/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Pontiac MI 11/11/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Pontiac MI 11/11/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Pontiac MI 11/11/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Pontiac MI 11/11/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Pontiac MI 11/22/91 A-25
Xxxxxxxx & Associates In 804750 FORKLIFT Lansing MI 11/12/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Martinsburg WV 11/27/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Martinsburg WV 11/27/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Martinsburg WV 11/27/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Martinsburg WV 11/27/91 X-00
Xxxxxxxx & Xxxxxxxxxx Xx 000000 FORKLIFT Martinsburg WV 11/27/91 A-25
GENERAL MOTORS CORPORATION
EXHIBIT ONE
RENTAL SCHEDULE A-25
(Stated as Percentage of Equipment Cost)
AFTER
PRIMARY
TERM TERMINATION CASUALTY
PAYMENT NO. BY SALE VALUE
-------------- ------------- ----------
Prior to 1 120.00
1 122.42 119.42
2 121.83 118.83
3 121.23 118.23
4 120.63 117.63
5 120.01 117.01
6 119.39 116.39
7 118.75 115.75
8 118.11 115.11
9 117.45 114.45
10 116.79 113.79
11 116.12 113.12
12 115.43 112.43
13 114.74 111.74
14 114.04 111.04
15 113.33 110.33
16 112.60 109.60
17 111.87 108.87
18 111.12 108.12
19 110.37 107.37
20 109.60 106.60
21 108.82 105.82
22 108.03 105.03
23 107.23 104.23
24 106.42 103.42
25 105.59 102.59
26 104.76 101.76
27 103.91 100.91
28 103.05 100.05
29 102.18 99.18
30 101.29 98.29
31 100.39 97.39
32 99.48 96.48
33 98.56 95.56
34 97.62 94.62
35 96.67 93.67
36 95.70 92.70
GENERAL MOTORS CORPORATION
EXHIBIT ONE
RENTAL SCHEDULE A-25
(Stated as Percentage of Equipment Cost)
AFTER
PRIMARY
TERM TERMINATION CASUALTY
PAYMENT NO. BY SALE VALUE
-------------- ------------- ----------
37 94.72 91.72
38 93.73 90.73
39 92.72 89.72
40 91.70 88.70
41 90.66 87.66
42 89.61 86.61
43 88.55 85.55
44 87.46 84.46
45 86.37 83.37
46 85.26 82.26
47 84.13 81.13
48 82.98 79.98
49 81.82 78.82
50 80.65 77.65
51 79.45 76.45
52 78.24 75.24
53 77.01 74.01
54 75.77 72.77
55 74.50 71.50
56 73.22 70.22
57 71.92 68.92
58 70.61 67.61
59 69.27 66.27
60 68.00 65.00
Rental Schedule No. A-25RN1
Amendment No. 1
Page 1 of 2
October 1, 1996
Equis Financial Group
00 Xxxxx Xxxxxxxxxx Xxxxxx
Xxxxxx, XX 00000
Rental Schedule No. A-25 dated December 1, 1991 by and between AFG Investment
Trust A, as managed by Equis Financial Group with remittance to be made to Equis
Financial Group, ("Lessor") and General Motors Corporation ("Lessee") is hereby
amended as follows:
Equis Financial Group will manage this Rental Schedule and the assets assigned
hereunder. All payments are to be remitted to the following address: Equis
Financial Group, P0 Box 360178, Xxxxxxxxxx, XX 00000.
The Purchase Order Number assigned to this Rental Schedule by General Motors is:
___________.
Effective December 1, 1996 Lessee elects to extend the lease of the equipment
listed on the attached Schedule B for an additional twelve (12) months at a
Monthly Rental Charge of $8,492.15. The Stipulated Loss Value for the Equipment
during the Renewal Lease Term shall be equal to sixty percent of the original
equipment cost for each item of equipment.
Except as provided for in this Amendment No. 1, all other terms and conditions
heretofore in effect remain unchanged. In the event of a conflict between the
terms and conditions of this Lease and this Amendment, the terms and conditions
of this Amendment shall prevail.
GENERAL MOTORS CORPORATION AFG INVESTMENT TRUST A
SERVICE PARTS OPERATIONS
By: AFG XXXX Corporation
Title: Managing Trustee
By: /s/ Xxxxxx X. Xxxxx By: /s/ Xxxx Xxxxxx
-------------------- --------------------
Name: Xxxxxx X. Xxxxx Name: Xxxx Xxxxxx
------------------ ------------------
Title: Buyer Title: Vice President
----------------- -----------------
Date: 10/24/96 Date: 10/25/96
------------------ ------------------
Counterpart No. 1 of 2 manually serial number executed counterparts. To the
extent that this Rental Schedule No. A-25RN1 constitutes chattel paper under
the Uniform Commercial Code, no security interest in this Lease may be created
through the transfer and possession of any Counterpart other than Counterpart
No. 1.
LLR41D-01 AMERICAN FINANCE GROUP 6/26/96 10:22:45 PAGE 1
Schedule B Equipment Description
RENTAL SCHEDULE AND ACCEPTANCE CERTIFICATE NUMBER: A-25RHI
LESSEE: GENERAL MOTORS CORPORATION
LESSOR: AMERICAN FINANCE GROUP, INC.
Acceptance
Equipment Cost Serial Number Year Manufacturer Model Type Date
--------------------------------------------------------------------------------------------------------------------------
48,357.00 04005004 XXXXXXX 040-R60TT FORKLIFT 12/01/1996
-----------------
48,357.00 Total for Location 0000 X XXXXX XXXX XX XXXXXXX XX 00000
28,925.39 15205714 XXXXXXX 152-0PC30TT FORKLIFT 12/01/1996
28,925.39 15205715 XXXXXXX 152-0PC30TT FORKLIFT 12/01/1996
28,925.39 15205716 XXXXXXX 152-0PC30TT FORKLIFT 12/01/1996
28,925.39 15205717 XXXXXXX 152-0PC30TT FORKLIFT 12/01/1996
28,925.39 15205718 XXXXXXX 152-0PC30TT FORKLIFT 12/01/1996
28,925.39 15205719 XXXXXXX 152-0PC30TT FORKLIFT 12/01/1996
28,925.38 15205720 XXXXXXX 152-0PC30TT FORKLIFT 12/01/1996
28,925.38 15205721 XXXXXXX 152-0PC30TT FORKLIFT 12/01/1996
28,925.38 15205722 XXXXXXX 152-0PC30TT FORKLIFT 12/01/1996
28,925.38 15205723 XXXXXXX 152-0PC30TT FORKLIFT 12/01/1996
28,925.38 15205726 XXXXXXX 152-0PC30TT FORKLIFT 12/01/1996
28,925.38 15205724 XXXXXXX 152-0PC30TT FORKLIFT 12/01/1996
28,925.38 15205725 XXXXXXX 152-0PC30TT FORKLIFT 12/01/1996
43,648.00 06004831 XXXXXXX 060-C50TT FORKLIFT 12/01/1996
-----------------
419,678.00 Total for Location 0000 XXXXXX XX XXXXXXX XX 00000
28,476.60 16205730 XXXXXXX 162-IS0PC30TT FORKLIFT 12/01/1996
28,476.60 16205731 XXXXXXX 162-IS0PC30TT FORKLIFT 12/01/1996
28,476.60 16205732 XXXXXXX 162-IS0PC30TT FORKLIFT 12/01/1996
28,476.60 16205734 XXXXXXX 162-IS0PC30TT FORKLIFT 12/01/1996
28,476.60 16205733 XXXXXXX 162-IS0PC30TT FORKLIFT 12/01/1996
-----------------
142,383.00 Total for Location 0000 XXXX XXXXXXX XXXXXXXXXXX XX 00000
-----------------
-----------------
610,418.00 Total Equipment Cost
RENTAL SCHEDULE AND ACCEPTANCE CERTIFICATE NO. A-31 (the "Rental Schedule")
DATED AS OF MARCH 12, 1992
TO MASTER LEASE AGREEMENT NO. 9002MIG399 (the "Master Lease")
DATED AS OF APRIL 17, 1990
LESSOR LESSEE
AMERICAN FINANCE GROUP GENERAL MOTORS CORPORATION
EXCHANGE PLACE 0000 XXXX XXXXXXX XXXX
XXXXXX, XX 00000 XXXXX, XX 00000-0000
1. LEASE TERM. PAYMENT DATES.
This Rental Schedule, between Lessor and Lessee incorporates by reference
the terms and conditions of the Master Lease. Lessor hereby leases to Lessee and
Lessee hereby leases from Lessor those items of Equipment described on the
attached Schedule B, for the Lease Term and at the Basic Rent payable on the
Payment Dates hereinafter set forth on the attached Schedule A, on the terms and
conditions set forth in the Master Lease. Lessee shall also pay to Lessor a fee
in the amount indicated on the attached Schedule A under the heading
"Documentation Fee" as reimbursement for fees owed by Lessor relating to Uniform
Commercial Code Financing Statements to be filed in connection with the
acquisition of the Equipment. Such fees shall be due and payable on the Payment
Commencement Date.
2. BASIC RENT.
Interim Term Basic Rent is computed by multiplying the Total Equipment
Cost by the Per Diem Lease Rate set forth on the attached Schedule A and
multiplying the product by the number of days in the Interim Term. Primary Term
Basic Rent is computed by multiplying the Total Equipment Cost by the Periodic
Lease Rate set forth on the attached Schedule A.
3. SPECIAL RETURN CONDITIONS.
In furtherance, and not in limitation of, the use, maintenance and return
conditions for the Equipment set forth in Section 11 of the Master Lease, Lessee
hereby agrees to return the Equipment to Lessor in accordance with all of the
terms and conditions of the Master Lease and in compliance with the following
special return conditions:
1. When loaded to its rated capacity, each Unit shall:
(a) Start under its own power and idle without water or fuel
leaks.
(b) Move through its normal speed ranges in both forward and
reverse, in normal operating manner.
(c) Steer normally right and left in both forward and reverse.
RENTAL SCHEDULE AND ACCEPTANCE CERTIFICATE NO. A-31
PAGE TWO
(d) Be able to stop with its service brakes within a safe
distance, in both forward and reverse.
(e) Lift, lower, and tilt normally with and without a load a
minimum of three (3) times. Carriage, lift chains and channel
assembly shall be In working condition, normal wear and tear
excepted.
(f) Electric trucks, if purchased with batteries, must be returned
with batteries that are capable of sustaining a charge that
will permit use of the equipment based on GMSPO average
application for a given Unit for a four (4) hour shift.
2. Each Unit's attachment(s), if any, shall perform all of its required
functions, and each Unit's horn, parking brake, and lights shall be
operational.
3. Each tire for each Unit shall have at least twenty-five percent
(25%) remaining tread.
4. Each Unit shall be complete with all originally-installed parts and
pieces or suitable substitutes therefor.
4. ACCEPTANCE CERTIFICATE.
Lessee hereby represents, warrants and certifies (a) that the Equipment
described herein has been delivered to and inspected and found satisfactory by
Lessee and is accepted for lease by Lessee under this Rental Schedule and the
Master Lease as incorporated herein by reference, as of the Acceptance Date set
forth above; (b) all items of Equipment are new and unused as of the Acceptance
Date, except as otherwise specified above; (c) the representations and
warranties of Lessee set forth in the Master Lease are true and correct as of
the date hereof; (d) Lessor has furnished, and Lessee has reviewed and hereby
approves of the terms of, Lessor's purchase order, purchase contract, or other
instrument evidencing Lessor's purchase of the Equipment, including any
manufacturer or vendor warranties contained therein; and (e) unless otherwise
specified above, the Equipment is not a fixture or accession to any real or
personal property including any other property owned by Lessor.
5. ENTIRE AGREEMENT. MODIFICATION AND WAIVERS. EXECUTION IN COUNTERPARTS.
This Rental Schedule and the Master Lease constitute the entire agreement
between Lessee and Lessor with respect to the leasing of the Equipment.
Capitalized terms not defined herein shall have the meanings assigned to them in
the Master Lease. To the extent any of the terms and conditions set forth in
this Rental Schedule conflict with or are inconsistent with the Master Lease,
this Rental Schedule shall govern and control. No amendment, modification or
waiver of this Rental Schedule or the Master Lease will be effective unless
evidenced by a writing signed by the party to be charged.
RENTAL SCHEDULE AND ACCEPTANCE CERTIFICATE NO. A-31
PAGE THREE
This Rental Schedule may be executed in counterparts, all of which
together shall constitute one and the same instrument.
IN WITNESS WHEREOF the parties hereto have caused this Rental Schedule and
Acceptance Certificate to be executed and delivered by their duly authorized
representatives as of the date first above written.
AMERICAN FINANCE GROUP GENERAL MOTORS CORPORATION
Lessor Lessee
By /s/ [ILLEGIBLE] By /s/ [ILLEGIBLE]
------------------------------ ------------------------------
Title Vice President Title Buyer
--------------------------- ---------------------------
By /s/ [ILLEGIBLE]
------------------------------
Director, Supplier
Title Development/Purchasing
---------------------------
COUNTERPART NO. 2 OF 3 SERIALLY NUMBERED MANUALLY EXECUTED COUNTERPARTS. TO THE
EXTENT IF ANY THAT THIS DOCUMENT CONSTITUTES CHATTEL PAPER UNDER THE UNIFORM
COMMERCIAL CODE, NO SECURITY INTEREST MAY BE CREATED THROUGH THE TRANSFER AND
POSSESSION OF ANY COUNTERPART OTHER THAN COUNTERPART NO. 1
3497i
Schedule A - Rental Schedule Economics
LESSEE: GENERAL MOTORS CORPORATION
LESSOR: AMERICAN FINANCE GROUP
RENTAL SCHEDULE: A-31
LEASE TERM (months): 60
PRIMARY START DATE: 4/01/1992
LEASE EXPIRATION DATE: 3/31/1997
PAYMENT FREQUENCY: MONTHLY
ADVANCE/ARREARS: ADVANCE
LEASE RATE: .0175000
PER DIEM LEASE RATE: .0005833
PERIODIC RENT: $3,401.87
NUMBER OF PAYMENTS: 060
TOTAL INTERIM RENT: $3,170.23
PAYMENT COMMENCEMENT DATE: 4/01/1992
TOTAL EQUIPMENT COST: $194,392.74
DOCUMENTATION FEE: $87.00
-----------
/s/ [ILLEGIBLE] LESSEE INITIALS
---------------------
/s/ [ILLEGIBLE] LESSOR INITIALS
---------------------
LLR80D 3/12/92 16:03:03 PAGE 1
AMERICAN FINANCE GROUP
SCHEDULE B EQUIPMENT DESCRIPTION
RENTAL SCHEDULE NO ACCEPTANCE CERTIFICATE NUMBER: A-31
LESSEE: GENERAL MOTORS CORPORATION
LESSOR: AMERICAN FINANCE GROUP
ACCEPTANCE
EQUIPMENT COST SERIAL NUMBER YEAR MANUFACTURER MODEL TYPE DATE STREET CITY ST ZIP
------------------------------------------------------------------------------------------------------------------------------------
23,500.00 C10SV16035M HYSTER 130XL FORKLIFT 3/04/92 BENSALEM PLANT XXXXXXXX XX 00000
23,500.00 C10SV16036M HYSTER E50XL FORKLIFT 3/04/92 BENSALEM PLANT XXXXXXXX XX 00000
23,500.00 C10SV16037M HYSTER E50XL FORKLIFT 3/04192 BENSALEM PLANT XXXXXXXX XX 00000
2,674.00 HR-33360-2-01 YUASA-EXIDE LH3-18-1000B CHARGER 3/04/92 BENSALEM PLANT XXXXXXXX XX 00000
2,674.00 HR-33360-2-02 YUASA-EXIDE LH3-18-1000D CHARGER 3/04/92 BENSALEM PLANT XXXXXXXX XX 00000
2,674.00 HR-33360-2-03 YUASA-EXIDE LH3-18-1000D CHARGER 3/04/92 BENSALEM PLANT XXXXXXXX XX 00000
2,537.00 HR-33360-1-01 YUASA-EXIDE 10-E95-23 BATTERY 3/04/92 BENSALEM PLANT XXXXXXXX XX 00000
2,337.00 HR-33360-1-02 YUASA-EXIDE 10-E95-23 BATTERY 3/04/92 BENSALEM PLANT XXXXXXXX XX 00000
2,537.00 HR-33360-1-03 YUASA-EXIDE 18-E95-23 BATTERY 3/04/92 XXXXXXXX XXXXX XXXXXXXX XX 00000
2,537.00 HR-33360-1-04 YUASA-EXIDE 18-E95-23 BATTERY 3/04/92 BENSALEM PLANT XXXXXXXX XX 00000
2,537.00 HR-33360-1-05 YUASA-EXIDE 18-E95-23 BATTERY 0/00/00 XXXXXXXX XXXXX XXXXXXXX XX 00000
23,000.00 C10SV16034M HYSTER E50XL FORKLIFT 3/02/92 0000 X XXXXXXX XX XXXXX XX 00000
23,500.00 C10SV16032M HYSTER E30XL FORKLIFT 3/02/92 0000 X XXXXXXX XX XXXXX XX 00000
23,500.00 C10SV16033M HYSTER E30XL FORKLIFT 3/02/92 0000 X XXXXXXX XX XXXXX XX 00000
2,525.00 XX-00000-0-00 XXXXX-XXXXX 00-X00-00 XXXXXXX 3/02/92 0000 X XXXXXXX XX XXXXX XX 00000
2,525.00 XX-00000-0-00 XXXXX-XXXXX 00-X00-00 XXXXXXX 3/02/92 0000 X XXXXXXX XX XXXXX XX 00000
2,525.00 XX-00000-0-00 XXXXX-XXXXX 00-X00-00 XXXXXXX 3/02/92 0000 X XXXXXXX XX XXXXX XX 00000
2,525.00 XX-00000-0-00 XXXXX-XXXXX 00-X00-00 XXXXXXX 3/02/92 0000 X XXXXXXX XX XXXXX XX 00000
2,525.00 XX-00000-0-00 XXXXX-XXXXX 00-X00-00 XXXXXXX 3/02/92 0000 X XXXXXXX XX XXXXX XX 00000
2,674.00 HR-33350-2-01 YUASA-EXIDE LN3-18-1000B CHARGER 3/02/92 0000 X XXXXXXX XX XXXXX XX 00000
2,474.00 HR-33350-2-02 YUASA-EXIDE LN3-18-1000B CHARGER 3/02/92 0000 X XXXXXXX XX XXXXX XX 00000
2,674.00 HR-33350-2-03 YUASA-EXIDE LN3-18-1000B CHARGER 3/02/92 0000 X XXXXXXX XX XXXXX XX 00000
2,537.00 HR-33360-1-04 YUASA-EXIDE 18-E85-23 BATTERY 3/04/92 BENSALEM PLANT XXXXXXXX XX 00000
2,525.00 XX-00000-0-00 XXXXX-XXXXX 00-X00-00 XXXXXXX 3/02/92 0000 X XXXXXXX XX XXXXX XX 00000
3,488.37 REDELIVERY CHARGE REDELIVERY CHARGE 3/04/92 BENSALEM PLANT XXXXXXXX XX 00000
3,466.37 REDELIVERY CHARGE REDELIVERY CHARGE 3/02/92 0000 X XXXXXXX XX XXXXX XX 00000
----------
$194,392.74 TOTAL EQUIPMENT COST
GENERAL MOTORS CORPORATION
EXHIBIT ONE
RENTAL SCHEDULE A-31
(Stated as Percentage of Equipment Cost)
AFTER
PRIMARY
TERM TERMINATION CASUALTY
PAYMENT NO. BY SALE VALUE
----------- ------- -----
Prior to 1 120.00
1 122.42 119.42
2 121.83 118.83
3 121.23 118.23
4 120.63 117.63
5 120.01 117.01
6 119.38 116.38
7 118.75 115.75
8 118.11 115.11
9 117.45 114.45
10 116.79 113.79
11 116.12 113.12
12 115.44 112.44
13 114.74 111.74
14 114.04 111.04
15 113.33 110.33
16 112.60 109.60
17 111.87 108.87
18 111.13 108.13
19 110.37 107.37
20 109.60 106.60
21 108.82 105.82
22 108.04 105.04
23 107.23 104.23
24 106.42 103.42
25 105.60 102.60
26 104.76 101.76
27 103.91 100.91
28 103.05 100.05
29 102.18 99.18
30 101.29 98.29
31 100.40 97.40
32 99.48 96.48
33 98.56 95.56
34 97.62 94.62
35 96.67 93.67
36 95.70 92.70
GENERAL MOTORS CORPORATION
EXHIBIT ONE
RENTAL SCHEDULE A-31
(Stated as Percentage of Equipment Cost)
AFTER
PRIMARY
TERM TERMINATION CASUALTY
PAYMENT NO. BY SALE VALUE
----------- ------- -----
37 94.73 91.73
38 93.73 90.73
39 92.73 89.73
40 91.70 88.70
41 90.67 87.67
42 89.62 86.62
43 88.55 85.55
44 87.47 84.47
45 86.37 83.37
46 85.26 82.26
47 84.13 81.13
48 82.98 79.98
49 81.82 78.82
50 80.65 77.65
51 79.45 76.45
52 78.24 75.24
53 77.01 74.01
54 75.77 72.77
55 74.50 71.50
56 73.22 70.22
57 71.92 68.92
58 70.60 67.60
59 69.27 66.27
60 68.00 65.00
RENTAL SCHEDULE AND ACCEPTANCE CERTIFICATE NO. A-32 (the "Rental Schedule")
DATED AS OF MARCH 1, 1992
TO MASTER LEASE AGREEMENT NO. 9002MIG399 (the "Master Lease")
DATED AS OF APRIL 17, 1990
LESSOR LESSEE
AMERICAN FINANCE GROUP GENERAL MOTORS CORPORATION
EXCHANGE PLACE 0000 XXXX XXXXXXX XXXX
XXXXXX, XX 00000 XXXXX, XX 00000-0000
1. LEASE TERM. PAYMENT DATES.
This Rental Schedule, between Lessor and Lessee incorporates by reference
the terms and conditions of the Master Lease. Lessor hereby leases to Lessee and
Lessee hereby leases from Lessor those items of Equipment described on the
attached Schedule B, for the Lease Term and at the Basic Rent payable on the
Payment Dates hereinafter set forth on the attached Schedule A, on the terms and
conditions set forth in the Master Lease. Lessee shall also pay to Lessor a fee
in the amount indicated on the attached Schedule A under the heading
"Documentation Fee" as reimbursement for fees owed by Lessor relating to Uniform
Commercial Code Financing Statements to be filed in connection with the
acquisition of the Equipment. Such fees shall be due and payable on the Payment
Commencement Date.
2. BASIC RENT.
Interim Term Basic Rent is computed by multiplying the Total Equipment Cost
by the Per Diem Lease Rate set forth on the attached Schedule A and multiplying
the product by the number of days in the Interim Term. Primary Term Basic Rent
is computed by multiplying the Total Equipment Cost by the Periodic Lease Rate
set forth on the attached Schedule A.
3. SPECIAL RETURN CONDITIONS.
In furtherance, and not in limitation of, the use, maintenance and return
conditions for the equipment set forth in Section 11 of the Master Lease, Lessee
hereby agrees to return the Equipment to Lessor in accordance with all of the
terms and conditions of the Master Lease and in compliance with the following
special return conditions:
1. When loaded to its rated capacity, each Unit shall:
(a) Start under its own power and idle without water or fuel leaks.
(b) Move through its normal speed ranges in both forward and reverse,
in normal operating manner.
(c) Steer normally right and left in both forward and reverse.
RENTAL SCHEDULE AND ACCEPTANCE CERTIFICATE NO. A-32
PAGE TWO
(d) Be able to stop with its service brakes within a safe distance,
in both forward and reverse.
(e) Lift, lower, and tilt normally with and without a load a minimum
of three (3) times. Carriage, lift chains and channel assembly
shall be in working condition, normal wear and tear excepted.
(f) Electric trucks, if purchased with batteries, must be returned
with batteries that are capable of sustaining a charge that will
permit use of the equipment based on GMSPO average application
for a given Unit for a four (4) hour shift.
2. Each Unit's attachment(s), if any, shall perform all of its required
functions, and each Unit's horn, parking brake, and lights shall be operational.
3. Each tire for each Unit shall have at least twenty-five percent (25%)
remaining tread.
4. Each Unit shall be complete with all originally-installed parts and
pieces or suitable substitutes therefor.
4. ACCEPTANCE CERTIFICATE.
Lessee hereby represents, warrants and certificates (a) that the Equipment
described herein has been delivered to and inspected and found satisfactory by
Lessee and is accepted for lease by Lessee under this Rental Schedule and the
Master Lease as incorporated herein by reference, as of the Acceptance Date set
forth above; (b) all items of Equipment are new and unused as of the Acceptance
Date, except as otherwise specified above; (c) the representations and
warranties of Lessee set forth in the Master Lease are true and correct as of
the date hereof; (d) Lessor has furnished, and Lessee has reviewed and hereby
approves of the terms of, Lessor's purchase order, purchase contract, or other
instrument evidencing Lessor's purchase of the Equipment, including any
manufacturer or vendor warranties contained therein; and (e) unless otherwise
specified above, the Equipment is not a fixture or accession to any real or
personal property including any other property owned by Lessor.
5. ENTIRE AGREEMENT. MODIFICATION AND WAIVERS. EXECUTION IN COUNTERPARTS.
This Rental Schedule and the Master Lease constitute the entire agreement
between Lessee and Lessor with respect to the leasing of the Equipment.
Capitalized terms not defined herein shall have the meanings assigned to them in
the Master Lease. To the extent any of the terms and conditions set forth in
this Rental Schedule conflict with or are inconsistent with the Master Lease,
this Rental Schedule shall govern and control. No amendment, modification or
waiver of this Rental Schedule or the Master Lease will be effective unless
evidenced by a writing signed by the party to be charged.
RENTAL SCHEDULE AND ACCEPTANCE CERTIFICATE NO. A-32
PAGE THREE
This Rental Schedule may be executed in counterparts, all of which together
shall constitute one and the same instrument.
IN WITNESS WHEREOF the parties hereto have caused this Rental Schedule and
Acceptance Certificate to be executed and delivered by their duly authorized
representatives as of the date first above written.
AMERICAN FINANCE GROUP GENERAL MOTORS CORPORATION
Lessor Lessee
By: /s/ [ILLEGIBLE] By: /s/ [ILLEGIBLE]
--------------------------- -----------------------------
Title: Vice President Title: Buyer
------------------------- ---------------------------
By: /s/ [ILLEGIBLE]
-----------------------------
Director, Supplier
Title: Development/Purchasing
---------------------------
COUNTERPART NO. 1 OF 3 SERIALLY NUMBERED MANUALLY EXECUTED COUNTERPARTS. TO THE
EXTENT IF ANY THAT THIS DOCUMENT CONSTITUTES CHATTEL PAPER UNDER THE UNIFORM
COMMERCIAL CODE, NO SECURITY INTEREST MAY BE CREATED THROUGH THE TRANSFER AND
POSSESSION OF ANY COUNTERPART OTHER THAN COUNTERPART NO. 1
3562i
GENERAL MOTORS CORPORATION
EXHIBIT 1 TO RENTAL SCHEDULE A-32
CASUALTY VALUES
(Stated as Percentage of Equipment Cost)
AFTER AFTER
PRIMARY PRIMARY
TERM CASUALTY TERM CASUALTY
PAYMENT NO. VALUE PAYMENT NO. VALUE
----------- ----- ----------- -----
Prior to 1 120.00
1 119.24 31 90.85
2 118.47 32 89.68
3 117.69 33 88.51
4 116.90 34 87.31
5 116.10 35 86.10
6 115.29 36 84.87
7 114.46 37 83.63
8 113.63 38 82.37
9 112.78 39 81.09
10 111.92 40 79.79
11 111.05 41 78.48
12 110.17 42 77.14
13 109.27 43 75.79
14 108.36 44 74.42
15 107.44 45 73.04
16 106.51 46 71.63
17 105.56 47 70.20
18 104.60 48 68.76
19 103.63 49 67.29
20 102.64 50 65.81
21 101.64 51 64.31
22 100.63 52 62.78
23 99.60 53 61.23
24 98.56 54 59.67
25 97.50 55 58.08
26 96.43 56 56.47
27 95.34 57 54.84
28 94.24 58 53.18
29 93.13 59 51.51
30 91.99 60 50.00
LLR80D 4/06/92 10:18:09 PAGE 1
AMERICAN FINANCE GROUP
SCHEDULE B EQUIPMENT DESCRIPTION
RENTAL SCHEDULE AND ACCEPTANCE CERTIFICATE NUMBER: A-32
LESSEE: GENERAL MOTORS CORPORATION
LESSOR: AMERICAN FINANCE GROUP
ACCEPTANCE
EQUIPMENT COST SERIAL NUMBER YEAR MANUFACTURER MODEL TYPE DATE STREET CITY ST ZIP
------------------------------------------------------------------------------------------------------------------------------------
19,913.00 650384 XXXXXX 620090 SWEEPER/SCRUBBER 3/26/92 0000 XXXXXXXXXXX XXXXXXX XX 00000
2,674.06 HR-48505-2-01 YUASA-EXIDE LH3-18-1000B CHARGER 3/26/92 0000 XXXXXXXXXXX XXXXXXX XX 00000
1,618.00 HR-48505-1-01 YUASA-EXIDE 18-E95-13 BATTERY 3/26/92 0000 XXXXXXXXXXX XXXXXXX XX 00000
----------------
$24,205.00 TOTAL EQUIPMENT COST
RENTAL SCHEDULE AND ACCEPTANCE CERTIFICATE NO. A-33 (the "Rental Schedule")
DATED AS OF MARCH 31, 1992
TO MASTER LEASE AGREEMENT NO. 9002MIG399 (the "Master Lease")
DATED AS OF APRIL 17, 1990
LESSOR LESSEE
AMERICAN FINANCE GROUP GENERAL MOTORS CORPORATION
EXCHANGE PLACE 0000 XXXX XXXXXXX XXXX
XXXXXX, XX 00000 XXXXX, XX 00000-0000
1. LEASE TERM, PAYMENT DATES.
This Rental Schedule, between Lessor and Lessee incorporates by reference
the terms and conditions of the Master Lease. Lessor hereby leases to Lessee and
Lessee hereby leases from Lessor those items of Equipment described on the
attached Schedule B, for the Lease Term and at the Basic Rent payable on the
Payment Dates hereinafter set forth on the attached Schedule A, on the terms and
conditions set forth in the Master Lease. Lessee shall also pay to Lessor a fee
in the amount indicated on the attached Schedule A under the heading
"Documentation Fee" as reimbursement for fees owed by Lessor relating to Uniform
Commercial Code Financing Statements to be filed in connection with the
acquisition of the Equipment. Such fees shall be due and payable on the Payment
Commencement Date.
2. BASIC RENT.
Interim Term Basic Rent is computed by multiplying the Total Equipment Cost
by the Per Diem Lease Rate set forth on the attached Schedule A and multiplying
the product by the number of days in the Interim Term. Primary Term Basic Rent
is computed by multiplying the Total Equipment Cost by the Periodic Lease Rate
set forth on the attached Schedule A.
3. SPECIAL RETURN CONDITIONS.
In furtherance, and not in limitation of, the use, maintenance and return
conditions for the equipment set forth in Section 11 of the Master Lease, Lessee
hereby agrees to return the Equipment to Lessor in accordance with all of the
terms and conditions of the Master Lease and in compliance with the following
special return conditions:
1. When loaded to its rated capacity, each Unit shall:
(a) Start under its own power and idle without water or fuel leaks.
(b) Move through its normal speed ranges in both forward and reverse,
in normal operating manner.
(c) Steer normally right and left in both forward and reverse.
RENTAL SCHEDULE AND ACCEPTANCE CERTIFICATE NO. A-33
PAGE TWO
(d) Be able to stop with its service brakes within a safe
distance, in both forward and reverse.
(e) Lift, lower, and tilt normally with and without a load a
minimum of three (3) times. Carriage, lift chains and channel
assembly shall be in working condition, normal wear and tear
excepted.
(f) Electric trucks, if purchased with batteries, must be returned
with batteries that are capable of sustaining a charge that
will permit use of the equipment based on GMSPO average
application for a given Unit for a four (4) hour shift.
2. Each Unit's attachment(s), if any, shall perform all of its required
functions, and each Unit's horn, parking brake, and lights shall be operational.
3. Each tire for each Unit shall have at least twenty-five percent (25%)
remaining tread.
4. Each Unit shall be complete with all originally-installed parts and
pieces or suitable substitutes therefor.
4. ACCEPTANCE CERTIFICATE.
Lessee hereby represents, warrants and certifies (a) that the Equipment
described herein has been delivered to and inspected and found satisfactory by
Lessee and is accepted for lease by Lessee under this Rental Schedule and the
Master Lease as incorporated herein by reference, as of the Acceptance Date set
forth above; (b) all items of Equipment are new and unused as of the Acceptance
Date, except as otherwise specified above; (c) the representations and
warranties of Lessee set forth in the Master Lease are true and correct as of
the date hereof; (d) Lessor has furnished, and Lessee has reviewed and hereby
approves of the terms of, Lessor's purchase order, purchase contract, or other
instrument evidencing Lessor's purchase of the Equipment, including any
manufacturer or vendor warranties contained therein; and (e) unless otherwise
specified above, the Equipment is not a fixture or accession to any real or
personal property including any other property owned by Lessor.
5. ENTIRE AGREEMENT. MODIFICATION AND WAIVERS. EXECUTION IN COUNTERPARTS.
This Rental Schedule and the Master Lease constitute the entire agreement
between Lessee and Lessor with respect to the leasing of the Equipment.
Capitalized terms not defined herein shall have the meanings assigned to them in
the Master Lease. To the extent any of the terms and conditions set forth in
this Rental Schedule conflict with or are inconsistent with the Master Lease,
this Rental Schedule shall govern and control. No amendment, modification or
waiver of this Rental Schedule or the Master Lease will be effective unless
evidenced by a writing signed by the party to be charged.
RENTAL SCHEDULE AND ACCEPTANCE CERTIFICATE NO. A-33
PAGE THREE
This Rental Schedule may be executed in counterparts, all of which together
shall constitute one and the same instrument.
IN WITNESS WHEREOF the parties hereto have caused this Rental Schedule and
Acceptance Certificate to be executed and delivered by their duly authorized
representatives as of the date first above written.
AMERICAN FINANCE GROUP GENERAL MOTORS CORPORATION
Lessor Lessee
By: /s/ [ILLEGIBLE] By: /s/ [ILLEGIBLE]
--------------------------- -----------------------------
Title: Vice President Title: Buyer
------------------------- ---------------------------
By: /s/ [ILLEGIBLE]
-----------------------------
Director, Supplier
Title: Development/Purchasing
---------------------------
COUNTERPART NO. 2 OF 3 SERIALLY NUMBERED MANUALLY EXECUTED COUNTERPARTS. TO THE
EXTENT IF ANY THAT THIS DOCUMENT CONSTITUTES CHATTEL PAPER UNDER THE UNIFORM
COMMERCIAL CODE, NO SECURITY INTEREST MAY BE CREATED THROUGH THE TRANSFER AND
POSSESSION OF ANY COUNTERPART OTHER THAN XXXXXXXXXXX XX. 0
0000x
XXX00X 4/08/92 11:05:23 PAGE 1
AMERICAN FINANCE GROUP
Schedule A - Rental Schedule Economics
LESSEE: GENERAL MOTORS CORPORATION
LESSOR: AMERICAN FINANCE GROUP
RENTAL SCHEDULE: A-33
LEASE TERM (months): 60
PRIMARY START DATE: 4/01/1992
LEASE EXPIRATION DATE: 3/31/1997
PAYMENT FREQUENCY: MONTHLY
ADVANCE/ARREARS: ADVANCE
LEASE RATE: .0170000
PER DIEM LEASE RATE: .0005667
PERIODIC RENT: $1,362.87
NUMBER OF PAYMENTS: 060
TOTAL INTERIM RENT: $698.53
PAYMENT COMMENCEMENT DATE: 4/01/1992
TOTAL EQUIPMENT COST: $80,169.00
DOCUMENTATION FEE: $46.00
-----------
/s/ [ILLEGIBLE] LESSEE INITIALS
---------------------
/s/ [ILLEGIBLE] LESSOR INITIALS
---------------------
LLR80D 4/08/92 11:05:29 PAGE 1
AMERICAN FINANCE GROUP
Schedule B Equipment Description
RENTAL SCHEDULE NO ACCEPTANCE CERTIFICATE NUMBER: A-33
LESSEE: GENERAL MOTORS CORPORATION
LESSOR: AMERICAN FINANCE GROUP
ACCEPTANCE
EQUIPMENT COST SERIAL NUMBER YEAR MANUFACTURER MODEL TYPE DATE STREET CITY ST ZIP
------------------------------------------------------------------------------------------------------------------------------------
9,226.00 1A116607 CROWN 20WBTL-130 WALKIE PALLET TRUCK 3/20/92 0000 X XXXXX XXXX XX XXXXXXX XX 00000
1,414.00 HR-47299-1-01 YUASA-EXIDE 12-EB50-13 BATTERY 3/20/92 0000 X XXXXX XXXX XX XXXXXXX XX 00000
707.00 HR-47299-2-01 YUASA-EXIDE EBC-12-40 CHARGER 3/20/92 0000 X XXXXX XXXX XX XXXXXXX XX 00000
14,684.00 1A116166 CROWN 300MTL-150 STOCK PICKER 3/16/92 0000 XXXXXXXXXXX XXXXXXX XX 00000
14,684.00 1A116151 CROWN 306P36TL-150 STOCK PICKER 3/16/92 0000 XXXXXXXXXXX XXXXXXX XX 00000
14,684.00 1A116126 CROWN 306P36TL-150 STOCK PICKER 3/16/92 0000 XXXXXXXXXXX XXXXXXX XX 00000
14,684.00 1A116146 CROWN 30PUTL-150 STOCK PICKER 3/16/92 0000 XXXXXXXXXXX XXXXXXX XX 00000
1,068.00 HR-47304-1-01 YUASA-EXIDE 12-E95-13 BATTERY 3/16/92 0000 XXXXXXXXXXX XXXXXXX XX 00000
1,048.00 HR-47304-1-02 YUASA-EXIDE 12-E95-13 BATTERY 3/16/92 0000 XXXXXXXXXXX XXXXXXX XX 00000
1,068.00 HR-47304-1-03 YUASA-EXIDE 12-E95-13 BATTERY 3/16/92 0000 XXXXXXXXXXX XXXXXXX XX 00000
1,048.00 HR-47304-1-04 YUASA-EXIDE 12-E95-13 BATTERY 3/16/92 0000 XXXXXXXXXXX XXXXXXX XX 00000
4,651.00 REDELIVERY CHARGE REDELIVERY CHARGE 3/16/92 0000 XXXXXXXXXXX XXXXXXX XX 00000
1,163.00 REDELIVERY CHARGE REDELIVERY CHARGE 3/20/92 0000 X XXXXX XXXX XX XXXXXXX XX 00000
----------
$80,169.00 TOTAL EQUIPMENT COST
GENERAL MOTORS CORPORATION
EXHIBIT 1 TO RENTAL SCHEDULE A-33
CASUALTY VALUES
(Stated as Percentage of Equipment Cost)
AFTER AFTER
PRIMARY PRIMARY
TERM CASUALTY TERM CASUALTY
PAYMENT NO. VALUE PAYMENT NO. VALUE
----------- ----- ----------- -----
Prior to 1 120.00
1 119.24 31 90.85
2 118.47 32 89.68
3 117.69 33 88.51
4 116.90 34 87.31
5 116.10 35 86.10
6 115.29 36 84.87
7 114.46 37 83.63
8 113.63 38 82.37
9 112.78 39 81.09
10 111.92 40 79.79
11 111.05 41 78.48
12 110.17 42 77.14
13 109.27 43 75.79
14 108.36 44 74.42
15 107.44 45 73.04
16 106.51 46 71.63
17 105.56 47 70.20
18 104.60 48 68.76
19 103.63 49 67.29
20 102.64 50 65.81
21 101.64 51 64.31
22 100.63 52 62.78
23 99.60 53 61.23
24 98.56 54 59.67
25 97.50 55 58.08
26 96.43 56 56.47
27 95.34 57 54.84
28 94.24 58 53.18
29 93.13 59 51.51
30 91.99 60 50.00
