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<br />AMENDMENT <br /> <br />The certain Equipment Lease-Purchase Agreement by and between Ford Motor Credit <br />Company ("Lessor") and City of Sunny Isles Beach ("Lessee"), dated as of December 15, <br />2000 (the "Lease") is hereby amended as follows: <br /> <br />A. Lessee has not issued, and reasonably anticipates that it and its <br />subordinate entities will not issue, tax-exempt obligations (including this <br />Agreement) in the amount of more than $10,000,000 during the current <br />calendar year; hereby designates this Agreement as a "qualified tax- <br />exempt obligation" within the meaning of Section 265(b)(3) of the Internal <br />Revenue Code of 1986, as amended, ("Code"); and agrees that it and its <br />subordinate entities will not designate more than $10,000,000 of their <br />obligations as "qualified tax-exempt obligations" during the current <br />calendar year. <br /> <br />B. The parties assume and intend that this Agreement will qualify as a "qualified <br />tax-exempt obligation" within the meaning of Section 265(b)(3)(B) of the Code. <br />In the event that Lessor, its assignees or sub-assignees either (i) receive <br />notice from the Internal Revenue Service; or (ii) reasonably determines, based <br />on an opinion of independent tax counsel selected by Lessor and approved by <br />Lessee, which approval Lessee shall not unreasonably withhold; that the <br />otherwise applicable exception set forth in Section 265(b)(3,",of the Code is not <br />available, then Lessee shall pay Lessor, its assignees or sub-assigne~s, as the <br />case may be, within thirty (30) days after receiving notice from Lessor of such <br />determination, the amount which, with respect to rental payments previously <br />paid, will restore the after-tax yield on the transaction evidenced by this <br />Agreement to that which would have been had such exception been available, <br />and pay as additional rent on succeeding rent payment due dates such <br />amount as will maintain such after-tax yield. <br /> <br />Except as amended hereby, the Lease shall otherwise remain unchanged and in full <br />force and effect. <br /> <br />IN WITNESS WHEREOF, the parties have executed this Amendment as of the 15th day <br />of December, 2000. <br /> <br />LESSEE: City of Sunny Isles Beach <br />Police Department <br /> <br />LESSOR: Ford Motor Credit Company <br /> <br />By: <br /> <br />@/~. <br /> <br />Christopher Russo <br />City Manager <br /> <br />By: <br /> <br />JFr~~a~ <br /> <br />Title: <br /> <br />Title: <br /> <br />Operations Manager, Municipal Financing <br />