HomeMy WebLinkAboutC-2098 - Lease/purchase agreement for Police helicopterL1
CITY OF NEWPORT
TO: FINANCE DIRECTOR
FROM: City Cleric
SUBJECT: Contract No. C -2098
Description of Contract
Police
CALIFORNIA
DATE June 2. 1980
Authorized by Resolution No. 9572 , adopted on Jlme 11, 1979
Effective date of Contract December 19, 1979
Contract with First Ykmicipal Leasing ODxporaticn
Address 8301 E. Prentice Ave, 30 Denver Technological Oznter
Englewood, Colorado 80111
Amount of Contract see contract
City Hall
=_ '<
3300 W�'Nawport Blvd::
Area Code 714'
Y f:'nri
3a�.r
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(Lease Purchase of police Helicopter,
First Municinal Leasing Corporation)
THIS AGREEMENT, dated this day of - - , 19 , by
and between the City of Newport Beach, a municipal corporation, herein-
after referred to as "City" and First Municipal Leasing Corporation, a
District of Columbia corporation, hereinafter referred to as "Ft�S.0
W I T N E S S E T H
WHEREAS, City desires to accuire the Aircraft (as hereinafter
defined) from FMLC, and F,MLC desires to provide the Aircraft to City,
pursuant to the terms and conditions and for the purposes set forth in
this Agreement; and
WHEREAS, the City Council of the City of Newport Beach has author-
ized City to enter into this Agreement for the purposes set forth herein,
NOW, THEREFORE, for and in consideration of the premises hereinafter
contained, the parties hereto agree as follows:
SECTION I
DE. 1- NITIONS
"Aircraft" means the helicopter described in Exhibit A attached
hereto and by this reference made part hereof.
"Base Payment" means each of the four (4) equal payments of Twenty -
Eight Thousand Four Hundred Eighty -Eight Dollars ($28,48B.00).
"Delivery Date" means the date upon which City accepts the Aircraft,
which shall be subsequent to the testing periods for each of the police .
officer- pilots, the nuaber of such pilots having been agreed upon by
F'MLC and the Newport Beach Police.Departnent, and shall occur when City,
through its City Manager, then signs a Certificate of Inspection and
Acceptance, Exhibit D herein.
SECTION II
COVENANTS OF Tir CITY
The City represents, covenants and warrants that it is a public
body corporate and politic and is authorized by its City Council pursuant
to Resolution No. 9572 adopted Ju^.E• 11, 1979, to enter into the trans-
actions contemplated by this Agreement and to carry out its obligations
hereunder.
a
SECTION III
SALE AND PURCHASE OF AIRCP.?iFT
By bill of sale, title to the Aircraft will be conveyed at the time
of delivery to the City for and in consideration of the payments and
upon and subject to the terms and conditions as herein set forth.
Purchase price shall be One Hundred Thirteen Thousand Nine Hunderd
Fifty -Two Dollars ($113,952.00). The City has appropriated and encumbered
funds in the amount of One Hundred Thirteen Thousand Nine Hundred Fifty-
Two Dollars ($113,952.00) which is the agreed purchase price, for the
acquisition of said Aircraft, which the City intends to pay in four (4)
equal installments of Twenty -Eight Thousand Four Hundred Eighty -Eight
Dollars (28,488.00) ; first payment to be made thirty (30) days following
delivery; each subsequent payment to be made on an annual basis one (1)
year from the date of last payment, as more specifically set forth on
Exhibit B attached hereto and made a part hereof.
SECTION IV
SECURITY INTEREST
To secure payment of the Base Payments, and to secure the performance
and observance by the City of all the covenants expressed herein, City
does hereby assign, grant, bargain and convey a security interest in the
Aircraft to FMLC, or its successors and assigns for the term of this
Agreement until full payment is made, or until City exercises its option
to accelerate payment of purchase price.
SECTION V
AGREE14ENT TERM
The Agreement term shall commence as of the date of acceptance of
the Aircraft. The original term will terminate on , 19
. The Agreement term may be continued solely at the option of City for
subsequent one (1) year periods, totalling three(3), upon delivery by
City of written notice not less than thirty (30) days prior to end of
the existing term.
If all periods are exercised, Agreement term shall be four (4)
years.
SECTION VI
BASE PAYMENTS,
City, in its sole discretion, may accelerate any or all payments at
any time, and if paid in full, City shall be the owner of Aircraft from
the time of its payments to FDff,C.
I
In the event that City exercises its option to accelerate all of
the payments herein, such payment shall be as per Exhibit B Option To
Purchase Value.
Each base payment hereunder shall be paid in lawful money of the
United States of America to Ft4LC. If any dispute arises between City
and FMLC, City *shall make all payments as said payments fall due to a
Trust Account which shall be set up for such specific purpose, and over
which City shall have all right of control.
Subject to the aforementioned exceptions and subject to Section .
XVII as hereinafter set forth, the base payments shall be absolute when
due. The base payments shall be payable solely out of funds
pursuant to valid City Council resolution for the specific purpose of
meeting obligations created by this Contract.
If the City is not allotted funds for the next renewal term to con-
tinue the leasing of the Aircraft, and it has no funds for such leasing
from other sources, the City may terminate this Agreement at the end of
the original term, and City shall not, in this sole event, be 'obligated
to make.payment of any concluding payment required at the end of such
original term or renewal* term. FMLC shall have, in the event of such
termination, all rights and remedies to take possession of the Aircraft.
SECTION VII
MAINTENANCE AND ALTERATIONS
. City shall, at its own expense, at all times during the Agreement
term of the Aircraft, maintain the Aircraft and keep the Aircraft currently
certified and completely airworthy, and shall keep the Aircraft in good
and safe operating order, repair and condition in accordance with the
requirements of the Federal Aviation Authority ( "FAA ") and the Civil
Aeronautics Board ( "CAB "). City, at its own expense, shall also pay for
all fuel, service, inspections, overhauls, replacements, substitutions,
improvements, storing, hangaring, maintenance and directives respecting
the Aircraft; and will permit all maintenance and repair work to be per-
formed only at service facilities and by persons duly licensed by the
FAA. City will maintain the Aircraft in accordance with the manufacturer's
operating, inspection and maintenance manuals.
City shall maintain all records pertaining to the Aircraft during
the Agreement term hereof in accordance with all of the rules and reg-
ulations of the FAA and CAB applicable to the Aircraft. Such records
shall be made available for inspection by FMLC, upon reasonable notice
at Tallmantz Aviation, Newport Beach, California.
City, at its sole.exu�,nse, may alter, modify, make additional and
improvement to the Aircraft provided (a) any such alterations, mod-
ifications, addition or improvement has been approved by the manufac-
turers of the Aiicraft, (b) the City receives prior written approval of
FPiLC (which shall not be unreasonably withheld), and (c) no such altera-
tion, modification, addition or improvement eliminates any of the multi-
. use capabilities, unreasonably reduces the value or utility, or unreason-
ably impairs the warranty, airworthiness, certification, safety of
performance of the Aircraft.
SECTION VIII
FEES. TAXES, CERTIFICATES, PERMITS, AND LICENSES
City agrees, at its sole expense, to procure and maintain in effect
all licenses, certificates and permits required under applicable law in
connection with the possession, use and operation of the Aircraft. City
further agrees to pay promptly when due fees, assessments and other
taxes (hereinafter collectively called "impositions "), which may be
levied against Aircraft for which City is specifically liable. Any such
impositions and any penalties or interest thereon shall be paid by City,
or if FMLC is required to collect any payment thereof, City shall upon
demand by FMLC reimburse FPLLC within a reasonable time for such sums,
but not for any expenses incurred therein, and any such payment made by
F14LC for City shall not relieve City from its obligation to pay all such
impositions as provided hereunder. Fr1LC agrees that if, in the opinion
of independent counsel selected by City and acceptable to F!QLC (and
whose fees and expenses shall be .paid by FMLC), a bona fide claim exists
to all or a portion of any such imposition in respect to which City has
made payment to FMLC as aforesaid, FIMC shall, upon request and at the
expense of City, take all such legal or other appropriate action deemed
reasonable by such independent counsel in order to sustain such claim.
City shall be entitled to the proceeds of the successful prosecution of
any such claim.
SECTION Ix
INSURFaiCE AND PILOTS
All public liability and property damage insurance policies which
may be required hereunder shall nary City as the primary insured and
shall name F!iLC as the owner and as an additional insured. All insurance
policies shall include endorsements provided for (a) not less than
thirty (30) days prior written notice to Fl ,MC before any alterations or
cancellation thereof, (b) geographic limits acceptable to FIMC and (c)
pay -rent for all losses in United States dollars.
The parties agree that City shall carry a strict liability insurance
policy which adequately protects FmLC's interest in the Aircraft.
The insurance policy or policies evidencing coverage against loss
or damage to Aircraft shall provide that proceeds payable by such insurer
Pursuant thereto shall be payable solely to City; except that proceeds
may be payable to FFiLC if, and only if, FPILC procures a default re-
cognized by incorporated in a court order, and FMLC thereafter provides
a copy of said court order to insurer..
City shall make good faith efforts to insure that parties with whom
City has contracts related to the care and service of the Aircraft carry
Workers Compensation Insurance. city's duly in this regard shall be
deemed to be discharged by requiring other contracting parties to carry
said coverage as a term of the contract between such other parties and
City.
The Aircraft shall be operated (a) only by duly licensed pilot
operators currently certified as qualified to operate the Aircraft in
compliance with the laws of the United States or any other state or
local government authority, domestic or foreign, having jurisdiction
therefor, and (b) in accordance with the provisions of the insurance
policy or policies issued in connection herewith.
SECTION X
USE AND OPERATION
Unless otherwise agreed in writing, City shall not use the Aircraft
in Air Taxi or FAA Part 121 operations and City agrees to use the Air-
craft only for the purpose and in the manner set forth in the application
for insurance executed in connection herewith, and in accordance with
the terms, conditions and provisions of each insurance policy providing
the coverage required hereunder. City will make all reasonable attempts
to abide by and conform to, and will make all reasonable attempts to
cause others subject to City's direct and substantial control to abide
by and conform to all laws and regulations controlling or affecting the
possession, maintenance, operation and use, or the use of any premises
or facilities by the Aircraft for which City has the direct and primary
responsibility. City will not conduct its Aircraft operations in a negli-
gent manner so as to void or adversely affect any insurance covering the
Aircraft. City agrees to use reasonable care when contracting with
other to provide Aircraft services. By so doing, as to those things
contracted for, City shall be deemed to have complied with its afore-
mentioned duties.
SECTION XI
LIENS
City shall not directly or indirectly create, incur, assum:>. or
suffer to exist any mortgage, pledge, lien, charge, encumbrance or claim
on or with respect to the Aircraft, except with respect to the respective
rights of FMLC and the City as herein provided. City shall promptly at
its own expense, take such action as may be necessary to duly discharge
any such mortgage, pledge, lien, charge, encumbrance or claim not excepted
above if the same shall arise at any time.
4) 0)
SECTION XII
DAt4AGE OR DESTRUCTION OF AI=_ °?
City shall bear the risk, of loss to the Aircraft, except in the
case where Aircraft or its equipment is damaged, stolen or destroyed
while under the control or during the attempt to `a:ce control by FALC
without right.
City assumes the duty to repair the Aircraft in event of partial
damage so as to restore the Aircraft to a safe a.d airworthy condition.
City reserves the right to elect whether repair is warranted. FMLC
shall lose none of its rights to payments when d_>_ by exercise of said
election.
It is understood and agreed by and between F'..0 and City that
repairable damages suffered by the Aircraft and repaired pursuant to the
provisions of the preceding paragraph can adversely affect the market-
ability and the value of the Aircraft and the City agrees to compensate
FMLC for such loss in value, if any.
In the event of total destruction or loss, City will continue to
meet its monetary obligations herein until teri.- .ated.
To the extent that any such loss,.damage or t king is covered by
insurance, all proceeds of such insurance shall be first applied by City
toward satisfaction of the payment required to he ride to Fb'S C or its
assignee pursuant to this Section. City shall h�_.....e entitled to all
remaining proceeds, including all right and title to their use.
SECTION XIII
TITLE TO AIRCRAFT
Title to the Aircraft and any and all additions, repairs, replace-
ments or modifications thereto shall be in City and FmLC shall have no
right, title or interest therein or thereto except as expressly set
forth in this Agreement.
SECTION XIV
ENJOYMENT OF AIRCRAFT
FMLC hereby covenants to provide City during t-e Agreement term
with quiet use and enjoyment of the Aircraft, and City shall during the
Agreement term peaceably and quietly have and hold and enjoy the Aircraft,
without suit, trouble or hindrance from FIMC, except as expressly set
forth in this Agreement. Any assignee of FMLC sla'_1 not interfere with
such quiet use and enjoyment during the Agreement tern so long as the
City is riot in default pursuant to this Agreement.
FMLC shall specifically rewire _.. ,:citing that any assignee or
remote assignee have as a term of such assig - -.ant contract or contracts
that said assignee or remote assignees ac':aadledge, accept and ratify
this Agreement as if set out in full, and as if City and said assignee
or remote assignees were original parties to this Agreement.
SEC_ZO`: TV
FPiLC' S RIGHT TO PE ?,= O ?_•? - O MUNICIPALITY
If City fails to make any pa =ants or fails to perform or comply
with any of its covenants or obligations herein contained, FMLC may at
its.election make such payment or perforn such covenant or comply with
such obligation. FMLC shall be entitled to reimbursement by City for
all expenditures incurred in corLiection t:^:erewith, together with interest
thereon at the rate of nine.percent M.) per annum.
SECTIUN Y.VI
EVENTS O_° DEF:;'.ZT
City shall be deemed to be in default hereunder upon the happening
of any of the following events of aefault:
(a) City shall fail to ma'•e any payment when due, or
(b) City shall fail to substantially comply with any such
other term, covenant or condition contained herein.
SECTION }:VII
DISCLAIMER OF h �Ft- :.T1LS
FMLC makes no warranty or representation, either express or implied
as to the airworthiness, value, design, condition, operation, merchant-
ability or fitness for use of the Aircraf_ or any other representation
or warranty with respect to the Aircraft_ The City acknowledges that
the Aircraft has been purchased in accor&Lnce with the City specifications
and that FtdLC is not a manufacturer of or dealer in such Aircraft, and
that FMLC has made no representation or warranty and assumes no obligation
with respect to the merchantability, condition, quality or fitness of
the Aircraft or the enforcement of the manufacturer's warranties or
guaranties. The parties acknowledge that all representations and warran-
ties relating to the Aircraft are being given directly by the manufacturer
of the Aircraft to City. In no event shall FD:LC be ? ble for incidental,
indirect, special or consequential damages in connec n with or arisin
out of this Agreement or the existence, f.:rnishing, - ctioning or the
City's use of any item or products of s_r-:ices provided for in this
Agreement. The City shall not be relieved of its obligation to make
Base Payments or to perform any cbligatio: hereunder by reason of any
defect in or unfitness of the Aircraft.
~ SECTION VIII
P.= -- -'DIES G`: D. FAULT
Any default must be judicially declared. City shall remedy any
such default within thirty (30) days. If riot so remedied, Ffff C, upon
notice, may take poss_ssion of an repossess the Aircraft and sell or
lease the Aircraft for to account of City, subject to City's right to
match such sale or lease price, holding City liable for the difference
in the purchase price, rental and other amounts paid by the purchaser or
lessee pursuant to such sale or lease and the amounts payable by the
City hereunder.
SECTION XIX
RETUpV OF AI°CRA °T
In the event FMLC, upon the occurrence of,any event of default,
exercises its option to reobtain possession of the Aircraft as provided
in Section XVIII hereof, City shall have no duty to deliver the Aircraft
to FMLC. City's sole daty is to yield possession of the Aircraft-
SECTION XX
INDEi'^7IFICA T ION
The City shall inae ni_`y, protect, hold harmless, save and keep
harmless FMLC, its agents, officers, employees and assigns from and
against any and all liability, obligations, losses, claims and damages
whatsoever, regardless of the cause thereof, and expenses in connection
therewith, including, without limiting, counsel fees and expenses,
penalties and interest arising out of or as the result of the entering
into of this Agreement, the ownership of the Aircraft, the ordering,
acquisition, use, operation, condition, purchase, delivery, rejection,
storage or return of the Aircraft or any accident in connection with the
operation, use, condition, possession, storage or return of the Aircraft
resulting in damage to property or injury to or death to any person. The
indemnification arising under this paragraph shall continued in full
force and effect notwithstanding the full payment of all obligations
under this Agreement or tre termination of the Agreement Term. The City
agrees not to withhold or abate any portion of the paycents required
pursuant to this Agreement by reason of any defects, malfunctions,
breakdowns or infirmities of the Aircraft.
SECTION XXI
ACCEPTF- ?SE O? AiRCRI °T
Upon the execution of the Certificat of Inspection and Acceptance
attached hereto as Exhibit D by the City, ..t shall be conclusively pre -
suned and determined that the City is satisfied with and has accepted
the Aircraft as being in goc�- cc z"ition and repair. FKLC shall have the
right at all reasonable times during business hours to enter into and
upon the premises wherein the ?aircraft may be located for the purpose of
inspecting the same or observing its use.
i
SECTION XXII
AMENDrLN^ r::0 ASS: � ?fE':T
This Agreement may be amended or any of its terms modified, • «ith
the written consent of City and F' -..^•
City covenants that it will not assign or sublet this Agreement or
the Aircraft, or' any interest in either, except with the prior written
consent of FMLC; provided, however, that City shall not be liable, found
to be in default, or suffer penalties as a result of City's failure to
secure such consent.
SECTION XXIII
1:0^_SCES
All notices to be given under this Agreement shall be made in
writing and mailed to the other party at its address set forth herein or
at such address as the party may provide in writing from time to time.
Any such notice shall be deemed to have been received three (3) days
subsequent to mailing.
SECTION XXIV
WAIVER
The waiver by FMLC of any breach by City, or waiver by City of any
breach by F;;LC, of any term, covenant or condition hereof shall not op-
erate as a waiver of any.subsepuant breach of the same of any other
term, covenant or condition hereof.
SECTION XXV
GOVERNING LA;
This Agreement shall be governed exclusively by the provisions
hereof and by the laws of the State of California as the same may from
time to tL ima exist.
SECTION X}:JI
MISCELLANEOUS
This Agreement, together with the ex,`ibits hereto, constitutes the
entire agreem ent between the parties, and this Agreement shall not be
modified, a:-_nded, altered or changed except in writing as herein provided.
Any provision of this Agreement found to be prohibited by law shall be
ineffective to the extent of such prohibition without invalidating the
remainder of this Agreement. Subject to the specific provisions of this
Agreement, this Agreement shall be binding urr n and inure to the benefit
of the parties and their respective successors and assigns.
0)
IN WITNESS Wi[ER.EO,, th> City and FMi.0 have caused this F:greement to
be executed by their resacti:e.dfficers hereunto duly authorized, all
as of the day and year first above written.
CITY OF NEWPORT BEACH
A runicipal Corporation
rt
Attest: '
r
City Clerk�'�
k
FIRST M-JNICIPAL LEASING CORPOP-ATION
A District of Columbia Corporation
•f Y
< � Jack TerBorg, P
Attest
.� /v, Jam: � �� -.� �/•'/ � , - %- . � —'�' i �
J
Maureen A. Hawkinson, Secretary
ident
THE REST E 15S Cl-Ey GF.
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PRYNENT TB ltiIEQEST LER.,-;E VAEGE
ox DlNaG TERN
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FIRST. RENEIARL TER.Ji
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THE LE-2.431--;:; H-FF;FB',,' R -Rp A E - F.- FA i. r I E r 4 - F. A t 4 B Ij r j F, :ET F.PF-pA A b IT, E
T Y' 13 F. r 4 Ez 1.11, R G q: F. E; C-H I F L E SE E
LV.
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. .... .. .......
EXHIBIT p
FIRST NUNIGIRRL LEASING CORRORRTIOri
ANNUAL LERRE RRYNENT SCHEDULE
ITHE LESSEE IS CITY OF NEWRORT BERGH, CAA
M GRRIM COST IS 3'3 ?113OZOG
ANDANT
ANT CREDITED To
ORTION TO
RRYNENT
AMOUNT OF
CREDITED
STIRULATED VALUE
RURGHASE
DATE
RRYNENT
TO INTEREST
OF CAPITAL COST
VALUE
I
S2:jf.488M
WHO
S22n4bRoGG
%76,858065
%28,48KOG
%WMIGAVAl
WGM212429
%5209708S
4
$20,480,00
1,01 ICS
SMMM
TOTALS
.7777.777777.7 777777777i=7.
1113,952.00
$16,822.00
77A7777777.7..
T9?xl?GvGU
EXHIBIT D
W
CERTIFICAT_: OF INSPECTION A._;D J _ ?TANCF.
The undersigned Municipality under that c_rtain Agreeicent dated
, 19 , negotiated fo- pUrpose of purchasing
the Aircraft having an. original va'ue in t:e a -! :;= t of $129,199.47, with
First Municipal Leasing Corporation, to c,-.__a ::-:is Certificate of Inspec-
tion and Acceptance is attached and - therein for all purposes,
hereby acknowledges and certifies solely to -. —C that the Aircraft
described below has (i) been delivered to t.._ "_�nicipality at the place
of delivery specified below, (ii) been thoro'-,:-.'_y examined and inspected
to the complete satisfaction of the Munici�a (iii) been accepted by
the Municipality in the condition received so : -r as a reasonable insncc-
tion has disclosed, (iv) been found by the r:_..__ipality to be airworthy
and in good operating order, repair and cony iti:.n., (v) been found to be
of the size, design, quality, type and manuf_'t_.'e selected by the
Municipality, (vi) been found to be suitable fcr the Municipality's
purposes, and (vii) been qualified with a c °err =:a FAA Certificate of
Airworthiness. The Municipality further ac;:-c'.:_edges and certifies that
FMLC has made no warrant, either express or _____ lied, with respect to the
Aircraft or its delivery, except those express or implied,
pursuant to the Agreements herewith, that t.._ ;r.surance coverage required
by Section IX of the Agree ;Rent is in full force and effect with respect
to the Aircraft and that First Municipal Lea-__-'n; Corporation has fully
and satisfactorily performed by it under �._- eement.
Further, the Municipality hereby confi - -s hat it will com:rence
payments as specified in Art. 111 with the f_-_t paymcnt being due
February 21, 19 80•
DESCRIPTION OF AIRCR *'T
Place of Delivery:
B °ac`
Date of Delivery: JZnlla12_.,.= 28Q_�.
Insurance Agent: Mi lnrg_t A�s� ^iatp4 _
(Name)
3720 Campus Drive, 2'e:i�:;art Beach, CA. 92GGO
(Address)
CITY OF NEWPO?._ EACH, CALIFORNIA
X'1.1
By
Wi h ss: %
I
EX�;J�TT A
AIRCRAFT D=SCRIPTION
General Description
1979
Year:
MaR,e,
---IIUGIIU.S
Model:
N: 5.8 3 2 7
Serial No. 1090838
Total Time Airframe:
7.1
Hours Tach Time:
Hobbs Time:
7.1
Date of Last Annual:
Last 100 Hours.
Date of Last 9.170 Static Mjec'-:-.
Paint: Color:
Condition:
Interior: Color:
Blue
Fabric:
Cona'.Ition:
Nero
Damage History:
No Da 7e
Gross Wed<jlht:
2050
Fmpty Weight:
1250.9 Ihs,
Useful Load:
999.1 lb-.
Fuel C�,O-a,:ity (gallons):
30 callons
Page 18 of 23
0
II. Engines and Rotors
r
A -2
Engine: Manufacturer: Lycominc
MC 3el: 1110 - 360 DIA
H-P. 190
Serial Numbers:.: L 20483 -51A
Total Time: Since New / X / or Factory
Re- manufacture
7.1
Since major overhaul:
L.E.: Nn4
Rotors 2 ;a *;•,;`act.urer: FiUGiiES RELICC?FERS
?.ode 1: 26902
ROTOR BLADE;
Serial Nuw:djers: 2"i.3?;X: 1017/0569/1068
Total Time: Since New /% / or Overhauled 1-7
L-E.: 7,1
IIL Electronics
Item
1;anu acturer and Type
Co!.am ,u,-1
KING 1.'Y 196
Co.. ':2
NONE
Nav nl
NON
Nav r2
r
N Iv!;
Glideslopc
NONE
Page 19 of 23
A -3
ADF:
NL� - - - -- '--- -- -- ----
Transponder: _
KING KT 788
3 Light Marker:
N /A.`___- _____.
Audio Panel: AIR
COMM. SYSTEMS MODEL 300
Radar:
N/A
Flight
Director:
N/A
Auto Pilot: __N1A
-- - --_--- -- - -...— - - - --
Approach Couplers?
IV. Hone Airport
The }Tome Airport.
of the Aircraft shall be as follows:
ORANGE
COUNTY AIRPORT, SANTA ANA, C:;LIFORNIA
The Municipality
hereby certifies that the description of the
Aircraft set forth above constitutes an accurate accou::t of the
"Aircraft" as defined
in the Agreement and that the Ec: - -2 Iei.rport of
the Aircraft shall be
as described above.
r
Page 20 of 23
AIRCRAFT CHATTEL MORTGAGE
This mortgage, made thit day of 1979 by and between The City of Newport BeHehf fo;
and on behalf oS the Police -Department ,
whose addrras is (Number, street, city, zone, and State)
P.O. Box 7000, Newport Beach, California 92660
heteinaftet called the MORTGAGOR, and
FIRST MUNICIPAL LEASING CORPORATION, a DISTRICT OF COLUMBIA CORPORATION
whose address is (Number, street, city, tone, and State)
8301 East Prentice Avenue, 30 Denver Technological Center, Englewood, Colorado 80111
hereinafter called the MORTGAGEE,
4'ITNESSETH: That the said mortgagor, bring justly indebted unto the said mortgagee in thr sum of
I:
NINETY SEVEN TYrOUSANDr ONE HUj� z(BI) THIRTY'-DOL r +P�
dollars (S97 '1lQ 00 ) as evidence a promissory note rcrrr to her tin, grants, bsrg aie s, r.cll s, and moagagts
to the said mortgagee, his herrsf a mldistrators, successors, and assigns, the following described aircraft:
11 -
Aircraft make and model HELICOPTERf HUGHES 300-0 FAA regislration number
Manufactutei s aerie) number 838
Together with all equipment and accessories attached thereto or used in connection therewith including the following:
SEE ATTACHED
all of which are included in the term aircraft ns used herein.
The above described aircraft is hereby taortgaged to the mortgagee for the purpose of securing in the order named:
First: The payment of all indebtedness evidenced by and according to the terms of that terrain promisso:y note, hercinhelcwdescribed,
and dl renewals and extensions thereof:
Note bearing date of 19 executed by the mortgagor and payable to the order ofF1P-ST MUNICIPAL LEASING
CORPORATION
in the aggregate principal sew of S 017 130 00 with interest thcmun at the
rare of 9.5 per eentum per annum, from date, payable in installments as follows: FIRST THREE ANNUAL PAY? ?ENTS
OF $28,488.00 and FOURTH ANNUAL PAYMENT $28,487.91
The principal and interest of said note is payable in threC installments of 123,488,00 each on the day
Fourth payment $28,487.91
of each successive month beginning with the day of 19
The last payment of S 28,487.91 is due on the
day of
19
Second: The prompt and faithful disch :.ge and performance ofeach agreement of the me:tgaror herein contained made with or .,e bene-
fit of the mortgagee in connection with the i idebmdness to secure which this insuurnent is c ec:icd, and the repayment
t of any s: ctcud<d
of advanced by the mortgagee for the maintenance or preservation of the property mortgaged ; ?c:eby or in enforcing l.is rights hen. .<r.
Said mongagorhereby declares endhereby warrants to the said mortgagee that he is the absr,l u:c owner of and beneficial brie to r
said aircraft a ndinpossession tbercof,and that the same is free and clear of all liens, a nc,e.'o:anccs, and laims whatsneve r, 1x11;
as follows: (11 no liens other then this mortgage indicate "Nooc ".)
NONE.
The following space is for the inclusion of any special provisions which the parries here,.. ire desirous of maeiag a part of this mo,,g.ee
NONE
Pre 1. however, that if tilt mortgagor, his heirs adminintratots, successors, or assipnc the.ii pay said note and the iotuem thereon in
ac, .ce with the terms thereof ant, shall keep and perform all slid singular the terms, cov<r.a r.b, and •,r ec meets in this mn: ry.axt. tirvu
thi rage shall be null and void.
W
Time is of the essence of chit mortgage. It is hereby agreed that if default be node in the payment of any part of the principal of interest of
the promissory not, s,,cu`rd hereby at the time and in the manner tberein specified, or if any breach be made of any obliggation or promise of
the in herein eontamed or secured hereby, or it any' or all of the property covered hereby be hcro.ho sold, fatted, ttnnsfcrrrd, mort-
gaged, or otherwise .... r.,bemd without the written consent of the wort boget lint had and obtained, or in the event of the seizure of the Air-
craft under e.ccution or otatr legal process, or if for any other reason the mortggogre may drem hire s rif ioscc.m. then the whole prinnpal
•um unpaid upon oid prop asory note, with the interest accrued [hereon, - adv.need under the terms of this mortgage, of secured thereby,
•rid the interest thereon, shall immediately become due and payable at the option of the mortgagee. (Any other ewwe• of default should be
II.led below:)
Upon default, mortgagee may at once proceed to foreclose this mortgage in any manner provided by law, or he may at his option, and he is
hereby empowered so to do with or without A foreclosure action, enter upon the premises where the said aircraft may be and take posacssion
themol; and temove and tell and dispose of the same at.public or private sale, and fromtheproceeds of such talc retain •II coat- and charges
incurred by him in the taking or sale of %aid aircraft, including any reasonable attorney', fees ineu me;.lao all s-ma Luc him on aid Promis-
sory vote, under any provisions thereof, or advanced under the terms of this mortgage, and interest thereon, or due or owing to the said fnon-
gagee,un re
detanypmvisionsofthis mortgage, or secured bemby,with the interest thereon, and any xmplus of such proceed. remaining ah.11 be
paid to the mortgagor, o: wboevet MAY he lawfully entitled to receive the same. If a deficiency occurs, the mortgagor agrees to pay such de-
llCtency forthwith.
Said mortg •g ee or his agent may bid and purchase At any sale made under this mortgage or herein autFosized, or a: any sale made upon fore -
eloaure of this mortgage.
IN WITNESS WHEREOF, the mortgagor has hereunto act hand and real on the day mod yea: first above written.
Name of mortgagor N ty of t'ayT,,rt F'P.rd f
For ;and on betblf of Police Departmen{
i
Signaturc(a) (in ink) '-
` (11 ezcc recd Yet co�Wwncrship, .)f muit sibs)
Title MAYOR OF THE CITY OF Nn,7PORT BFACI•I CA.
(If signed for • co:po: a�iee, p. :terrahip, o• -neq or agent)
ACKNOWLEDGMENT BY MORTGAGOR
State of �"`- "L'L� -4 ~- On this —f —_day of 1�/�_�-���� 19'5, before me pernona]-
ly appeared the above -named mong� or, ro mf)knon'n to be the person described
V�L,1 pp in and who executed the foregoing c oriel mutt a {e, and acknowledged that be
County of ^ executed the same as his free act and decd, an� it said charm] mortgage be that
(SEAL, 44••444••a0afs 4a4104469a4o4• of a eorpor.tion swore that he was duly authorized to execute the same. Given
trader my hand and official seal the day.and year written above.
o OFFICIAL SEAL C
Ere.
DOROTHY L. PALEN
• NOTARY PUBLIC CgLIt O@KI, 4 Pnl21-IPAt OFFL ^E I:1 • My eoomi expires 6.i.
My Commission Expires Feb. 9, 1981 • (Sign tare of mu:y pcblic nn ink))
♦4444441441444o446a066sooseo•.�
ASSIGNMENT BY MORTGAGEE
For value received, the undersigned mortgagee does hereby sell, assign, and transfer all his right, title and interest in and to the fumf,oing
note mod chattel mortgage, And the aircraft covered thereby, unto
whose address is (Number, &(reef, city, zone, and State)
and hereby autho:ims the said to do every act, and thing necessary to
collect and discharge the same. The undersigned moagnp -ee w,arr.nts and agrees to defend the title of said aircraft hereby conveyed A&Ai n st
all lawful claims and demand. except the rights of the maker. The undersigned mortgagee warrants that be is the owner of A valid security in-
terest in the said aircraft. (A guaranfy Clause orany other provisions rvhichfhe parties hereto are desirous ofena),ing a part of this assignment
should be included in the folloning space.)
Dated this
State of
County of
(SEAL)
My commission expires
IATS_AC -134
day of
19_.
Name of mortgagee (assigno:)
Signature(s) On ink.)
(11 ,mc,,ed for co-owocr.hip, all
Title
(II •irecd for . co: pcutio o, n.nnus6i >, o. ,cq or .sc:0
ACKNOWLEDGMENT BY MORTGAGEE (ASSIGNOR.) '
On this
ly appeared the above -,
to and who executed
cured the ..me as hi.:
corporation swore that
my hand and official .r
_day oI _, 19 , before rte Peraon.l
-
red mortgagee, to me k G(
nownto be the arton c,ecribed
foregoing assignment, and Acknowledged tha: y,c ese-
.e act and deed, and, if said assignment be ri.af of e
..'u duly anthc,ixcd to execute the ..me.Givtn under
the day mod year written above.
rotary, P"Ilie (in Ink))
40 0
RESOLUTION NO. 9572
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH AUTHORIZING THE MAYOR AND
CITY CLERK TO EXECUTE A LEAS' PURCHASE AGREE-
MENT BETWEEN THE CITY OF NEWPORT BEACH AND
FIRST MUNICIPAL LEASING CORPORATION FOR A
POLICE HELICOPTER
WHEREAS, there has been presented to the City Council
of the City of Newport Beach a certain Lease Purchase Agreement
between the City of Newport Beach and First Municipal Leasing
Corporation in connection with the leasing of a new police
helicopter; and
WHEREAS, the City Council has reviewed the terms and
conditions of said agreement and finds them to be satisfactory
and that it would be in the best interest of the City to
authorize the Mayor and City Clerk to execute said contract,
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Newport Beach that said contract above described
is hereby approved, and the Mayor and City Clerk are hereby
authorized and directed to execute the same on behalf of the
City of Newport Beach.
ADOPTED this 11th day of June , 1979.
ATTEST:
ty Clerk
kb
6/5/79