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MUNICIPAL LEASE AND OPTION AGREEMENT <br /> (Lease Number-#55163945-10845) <br /> LESSEE <br /> Name: The City of Decatur <br /> Address: #1 Gary K. Anderson Plaza <br /> City: Decatur <br /> State: Illinois Zip: 62523 <br /> TERMS AND CONDITIONS <br /> LOCATION OF PROPERTY IF OTHER THAN ABOVE ADDRESS OR LESSEE: <br /> Address County State <br /> City of Decatur Police Vehicle Fleet Macon Illinois <br /> PROPERTY DESCRIPTION LESSOR'S COST <br /> 9 Police Pursuit Vehicles—2012 Chevrolet Impalas $188,937.00 <br /> Accessory Equipment $14,474.00 <br /> LESSOR ASSUMES NO RESPONSD3ILITY FOR PERFORMANCE OR MAINTENANCE <br /> OF THE PROPERTY. PROPERTY TO BE INSURED BY LESSEE. VENDOR IS NOT AN <br /> AGENT OF LESSOR AND NO EMPLOYEE OF VENDOR OR LESSOR IS AUTHORIZED <br /> TO WAIVE, SUPPLEMENT OR OTHERWISE ALTER ANY PROVISION HEREOF. AS <br /> USED HEREIN, "VENDOR" MEANS THE MANUFACTURER OF THE PROPERTY AS <br /> WELL AS THE AGENTS OR DEALERS OF THE MANUFACTURER FROM WHOM <br /> LESSOR PURCHASED OR IS PURCHASING THE PROPERTY. <br /> The term of this lease shall be thirty (30) months. Lessee hereby agrees to pay Lessor nine (9) <br /> quarterly payments of$20,793.54 commencing on May 5,2013,and one(1) quarterly payment of <br /> $20,793.50 on August 5,2015 all as set forth in the attached Payment Schedule. <br /> Lessor hereby leases to Lessee the Property for the purposes and upon the following terms and <br /> conditions: <br /> ARTICLE I: WARRANTIES AND COVENANTS OF LESSEE. Lessee represents, covenants <br /> and warrants, for the benefit of Lessor and its assignees, as follows: <br /> A. Lessee is a public body, corporate and politic, duly organized and validly existing <br /> under the Constitution and laws of the state as set forth above ("State") and a political <br /> subdivision of the State,or a "constituted authority" thereof, qualified to issue obligations <br /> the interest on which is exempt from federal gross income under Section 103 of the <br /> Internal Revenue Code of 1986, as amended (the "Code"), and the related regulations and <br /> rulings, and is duly authorized to enter into the transactions contemplated by this <br /> 1 <br />