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<br />FORD MOTOR CREDIT COMPANY
<br />FLORIDA EQUIPMENT LEASE-PURCHASE AGREEMENT
<br />Lease No, 66000
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<br />Lessee: City of Sunny Isles Beach
<br />17070 Collins Ave, Suite 250
<br />Sunny Isles Beach, FL 33160
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<br />Lessor: Ford Motor Credit Company
<br />P. O. Box 1739
<br />Dearborn, M148121-1739
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<br />Lessor agrees to lease to Lessee and Lessee agrees to lease from Lessor the Equipment described in any Schedule A now or
<br />hereafter attached hereto ("Equipment") in accordance with the following terms and conditions of this Lease-Purchase Agreement
<br />("Lease").
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<br />1. TERM. This Lease will become effective upon the execution hereof by Lessor. The term of this Lease will commence on the
<br />date the Equipment is accepted pursuant to Section 3 hereunder and, unless earlier terminated as expressly provided for in this Lease
<br />will continue until the expiration date (the "Expiration Date") set forth in Schedule A attached hereto (the "Lease Term"). '
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<br />2. RENT. Lessee agrees to pay to Lessor or its assignee the Lease Payments, including the interest portion, equal to the amounts
<br />specified in Schedule A. The Lease Payments will be payable without notice or demand at the office of Lessor (or such other place as
<br />Lessor or its assignee may from time to time designate in writing), and will commence on the first Lease Payment Date as set forth in
<br />Schedule A and thereafter on the subsequent dates set forth in Schedule A. Any payments received later than ten (10) days from the
<br />due date will bear interest at the highest lawful rate from the due date. Except as specifically provided in Section 6 hereof, the obligation
<br />of Lessee to make the Lease Payments hereunder and perform all of its other obligations hereunder will be absolute and unconditional in
<br />all events and will not be subject to any setoff, defense, counterclaim, or recoupment for any reason whatsoever including, without
<br />limitation, any failure of the Equipment to be delivered or installed, any defects, malfunctions, breakdowns or infirmities in the Equipment
<br />or any accident, condemnation or unforeseen circumstances. Lessee reasonably believes that funds can be obtained sufficient to make
<br />all Lease Payments during the Lease Term and hereby covenants that it will do all things lawfully within its power to obtain, maintain and
<br />properly request and pursue funds from which the Lease Payments may be made, including making provisions for such payments to the
<br />extent necessary in each budget submitted for the purpose of obtaining funding, using its bona fide best efforts to have such portion of
<br />the budget approved and exhausting all available administrative reviews and appeals in the event such portion of the budget is not
<br />approved. It is Lessee's intent to make Lease Payments for the full Lease Term if funds are legally available therefor and in that regard
<br />Lessee represents that the use of the Equipment is essential to its proper, efficient and economic operation. Lessor and Lessee under-
<br />stand and intend that the obligation of Lessee to pay Lease Payments hereunder shall constitute a current expense of Lessee and shall
<br />not in any way be construed to be a debt of Lessee in contravention of any applicable constitutional or statutory limitation or requirement
<br />concerning the creation of indebtedness by Lessee, nor shall anything contained herein constitute a pledge of the general tax revenues,
<br />funds or monies of Lessee.
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<br />3, DELIVERY AND ACCEPTANCE. Lessee, or if Lessee so requests, Lessor, will cause the Equipment to be delivered to Lessee
<br />at the location specified in Schedule A ("Equipment Location"). Lessee will pay all transportation and other costs, if any, incurred in
<br />connection with the delivery and installation of the Equipment. Lessee will accept the Equipment as soon as it has been delivered and is
<br />operational. Lessee will evidence its acceptance of the Equipment by executing and delivering to Lessor a Delivery and Acceptance
<br />Certificate (in the form provided by Lessor) within three days of delivery of the Equipment.
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<br />4. DISCLAIMER OF WARRANTIES, Lessee acknowledges and agrees that the Equipment is of a size, design and capacity
<br />selected by Lessee, that Lessor is neither a manufacturer nor a vendor of such equipment, that LESSOR LEASES AND LESSEE TAKES
<br />THE EQUIPMENT AND EACH PART THEREOF "AS-IS" AND THAT LESSOR HAS NOT MADE, AND DOES NOT HEREBY MAKE, ANY
<br />REPRESENTATION, WARRANTY, OR COVENANT, EXPRESS OR IMPLIED, WITH RESPECT TO THE MERCHANTABILITY,
<br />CONDITION, QUALITY, DURABILITY, DESIGN, OPERATION, FITNESS FOR USE, OR SUITABILITY OF THE EQUIPMENT IN ANY
<br />RESPECT WHATSOEVER OR IN CONNECTION WITH OR FOR THE PURPOSES AND USES OF LESSEE, OR AS TO THE
<br />ABSENCE OF LATENT OR OTHER DEFECTS, WHETHER OR NOT DISCOVERABLE, OR AS TO THE ABSENCE OF ANY
<br />INFRINGEMENT OF ANY PATENT, TRADEMARK OR COPYRIGHT, OR AS TO ANY OBLIGATION BASED ON STRICT LIABILITY IN
<br />TORT OR ANY OTHER REPRESENTATION, WARRANTY, OR COVENANT OF ANY KIND OR CHARACTER, EXPRESS OR IMPLIED,
<br />WITH RESPECT THERETO, IT BEING AGREED THAT ALL RISKS INCIDENT THERETO ARE TO BE BORNE BY LESSEE AND
<br />LESSOR SHALL NOT BE OBLIGATED OR LIABLE FOR ACTUAL, INCIDENTAL, CONSEQUENTIAL, OR OTHER DAMAGES OF OR
<br />TO LESSEE OR ANY OTHER PERSON OR ENTITY ARISING OUT OF OR IN CONNECTION WITH THE USE OR PERFORMANCE
<br />OF THE EQUIPMENT AND THE MAINTENANCE THEREOF. Lessor hereby assigns to Lessee during the Lease Term, so long as no
<br />Event of Default has occurred hereunder and is continuing, all manufacturer's warranties, if any, expressed or implied with respect to the
<br />Equipment, and Lessor authorizes Lessee to obtain the customary services furnished in connection with such warranties at Lessee's
<br />expense. Lessee's sole remedy for the breach of any such manufacturer's warranty shall be against the manufacturer of the Equipment,
<br />and not against Lessor. Lessee expressly acknowledges that Lessor makes, and has made, no representations or warranties
<br />whatsoever as to the existence or the availability of such warranties of the manufacturer of the Equipment.
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<br />5, RETURN OF EQUIPMENT. Unless Lessee shall have exercised its purchase option as provided in Section 20 hereof, upon the
<br />expiration or earlier termination of this Lease pursuant to the terms hereof, Lessee shall, at its sole expense but at Lessor's option, return
<br />the Equipment to Lessor packed for shipment in accordance with manufacturer's specifications and freight prepaid and insured to any
<br />location in the continental United States designated by Lessor.
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<br />6, NON-APPROPRIATION OF FUNDS; NON-SUBSTITUTION. Notwithstanding anything contained in this Lease to the contrary,
<br />in the event no funds or insufficient funds are appropriated and budgeted or are otherwise unavailable by any means whatsoever in any
<br />fiscal period for Lease Payments due under this Lease, Lessee will immediately notify Lessor or its assignee in writing of such occur-
<br />rence and this Lease shall terminate on the last day of the fiscal period for which appropriations have been received or made without
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