EXHIBIT 10.3
CORESTATES LEASING, INC. NON-TAX
MASTER LEASE SCHEDULE
CoreStates Leasing, Inc. Schedule Dated _________________ to
One Meridian Blvd. Master Lease Agreement Xx. 00000
Xxxxxxxxxx, XX 00000 Master Lease Schedule #003
The Master Lease Agreement referred to above is incorporated herein by reference
as if set forth at length and Lessee and Lessor confirm all the terms and
provisions thereof except as specifically set forth herein to the contrary.
A. Equipment
This Schedule covers all Equipment described in Rider #1 attached hereto
and made a part hereof.
B. Definitions and Meanings of Certain Terms
1. Advance Rental: $1,303.41
2. Lessor's Cost: $32,105.00
3. Commencement Date: ___________________ (To be the date of
execution of the Certificate of Acceptance)
4. Term of Lease: _____________ days (the "interim term") followed by a
basic term of 27 months and ending on _____________________
5. First Rent Payment Factor: .040598
6. Second Rent Payment Factor: --------
7. Additional Provisions: $100.00 processing fee.
8. All Riders (if any) in addition to Rider #1 are listed hereinafter
and made a part hereof: Rider #2, #5
C. Stipulated Loss Values
The Stipulated Loss Value of any Item of Equipment may be determined as of
any rent due date by multiplying Lessor's Cost for the Equipment by the
percentage applicable to such date in each case determined by reference to the
Schedule of Stipulated Loss Values attached hereto.
D. Lease Type
Lessor agrees not to claim the tax benefits of an owner of the Equipment
for federal income tax purposes or for state or local tax purpose, and the
provisions of Section 10 of the Lease shall have no application.
E. Rent Payments
Lessee promises to pay rent for the interim term, if any, on the first day
of the basic term in an amount equal to $_________________ and thereafter Lessee
promises to pay rent for the basic term by making 27 consecutive installments of
rent, with the first such payment due ________________ and with succeeding
payments due on the _____________________ day of each month thereafter. Lessee
thereafter promises to pay 26 additional installments of rent each in the amount
of $1,303.41 on the _____________________ day of each succeeding month during
the basic term.
Except as expressly modified hereby, all terms and provisions of the Lease
remain in full force and effect. The parties hereto have caused their duly
authorized officers to execute this Schedule as of the Commencement Date.
CORESTATES LEASING, INC.
XXXXXXXX'X INC. OF NEW YORK
By:_____________________________________ By:_________________________________
Xxxxxx X. Xxxxxx
President
Title:__________________________________ Title:______________________________
Date:___________________________________ Date:_______________________________
9801-004
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