HomeMy WebLinkAboutRES 643 Draft 01 1980-1984R O ~4
County of Hawaii - State of Hawaii
Resolution
6JHEREAS, Section 10-11 of the County Charter provides that any contract,
lease or other obligation requiring payment of funds from appropriations of a
later fiscal year or of more than one fiscal year be approved by resolution
of the Council; and
WHEREAS, the County has taken delivery of a five-place Hughes .helicopter
to be used by the Fire Department and other agencies, and desires to pay for
the helicopter in 72 monthly installments; and
WHEREAS, the County is financing the purchase of this helicopter through
First Hawaiian Bank by extension of Lease Agreement No. 793, a copy of which
is attached;
NOtd THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAII that
i't approves Lease Agreement No. 793 with First Hawaiian Bank, which provides
for 72 monthly payments and that sufficient funds be appropriated in future
fiscal years to cover the obligation of the County.
Dated at Hilo, Hawaii, this 8th day of June
1983.
INTRODUCED BY:
~'tJ'vK...-t~ 't-
000NCTL MEMBER
COUNTY OF HAWAII
ROLL CALL VOTE
COUNTY COUNCIL AYE
County of Hawaii Dahlne.g x
Hilo, Hawaii ~ ~„:, iii x
Domingo x
I hereby certify that the foregoing RESOLUTION was by the vote indicated to Foiii x
the right hereof adopted by the COUNCIL of the County of Hawaii on Hale x
June 8 , 19 83 Kawahaea x
................................................................................................................ ui x
Schulte x
ATTEST: ~ ~~. „__...,,., x
/ / Reference: r
~• ~ , ~'AJ!/(/„~`/ M.B. No. _
COUNTY CL K~ AIRMAN & R SIDING OFFICER 6~3 8a)
RESOLUTIONNO.
_- ~ /~
DEPARTMENT OF FINANCE
COUN'T'Y OF HAWAII
H1L0, HAWAII
Date June 10. 1983
MEMORANDUM
TO: County Clerk
FROM: Purchasing (2i vision
SUBJECT: Resolution 643 83
Per your request, attached are copies of fully executed
lease documents for First Hawaiian Bank Lease No. 793.
~C~iCi ~M
PURCHASING AGENT, UNTY OF HAWAII
~ETAIL INSTALLMENT CONTRACT
FIRST HAWAIIAN BAIJK
P. O. Box 3200
Honolulu, Hawaii 96847
~.1'z~z
Lease No.
793
Lessee: (Name) COUNTY OF HAk'AII
(Address) 25 Aupuni Street, Hilo, Hawaii 96720
Phone No(s): Federal I.D. No. Hawaii G.E. Tax No.
Kind of Business (Check one):
Proprietorship ^ Partnership or Joint Venture ^ Corporation Muni Ci pal i ty
1. LEASE AGREEMENT, First Hawaiian Bank (the "Lessor") hereby agrees to lease to the above-described Lessee, and
the Lessee agrees to lease from the Lessor, all the machinery, equipment and other personal property ("Equipment")-described in the
equipment lease schedules ("Equipment Lease Schedules")which are or may from time to time hereafter be executed by the Lessor and the
Lessee and attached hereto and incorporated by reference, upon the terms and conditions set forth herein and the Equipment Lease
Schedules, all of which constitute one undivided lease of the Equipment. All of the terms, covenants and conditions of this Lease shall govern
the rights and obligations of the Lessor and the Lessee, except as speciTically modified in writing.
2. LEASE TERM. This Lease shall become effective upon the execution of this Lease by the parties and shall terminate upon the full
performance and satisfaction of all of the terms, conditions and covenants set forth in this Lease. The Rental Tenn far each item of
Equipment is provided in the Equipment Lease Schedule. '
3. RENT. The Lessee shall pay to the Lessor the amount of rent set forth in the Equipment Lease Schedules on the dates specified
therein; provided, however, if the actual acquisition cost ("Capitalized Cost") of the Equipment differs from the amount set forth in the
Equipment Lease Schedules, the Lessor may adjust the amount of rent based on the amount of any such difference. The method of adjusting
the rent is set forth in the Equipment Lease Schedules. As used in this Lease, the tens "actual Capitalized Cost" means the cosf to the Lessor
of purchasing and delivering the Equipment to the Lessee. Interim rental shall be paid by the Lessee to the Lessor as provided in the
Equipment Lease Schedules. All rental payments shall be paid at the office of the Lessor or such other place as the Lessor may hereafter
specity in writing to the Lessee. If the Lessor's interest in this Lease is assigned to a third party, all rental payments shall be paid at the office of
the assignee or such place as the assignee may hereafter specify in writing to the Lessee. The Lessee shall pay all rent to the Lessor or the
Lessor's assignee without deduction, setoff or demand, and the amount of such rent shall not be reduced in amount during any period in
which the Equipment is being serviced or repaired. In addition to the rental payments, the Lessee shall pay such other sums as are specified
in this Lease.
4. GENERAL EXCISE TAX. The Lessee shall pay to the Lessor, as additional rent, at the time and together with each payment ct
rent, an amount equal to the gross income taxes payable by the Lessor under the Hawaii general excise tax law, or any similar state, federeJ
or county law which may be hereafter enacted, on account of the receipt by the Lessor of such payment of rent.
5. LATE CHARGES. If any rental payment is not paid within ten (10) days after such rental payment shall become due. the Lessee
shall pay to the Lessor, as a late charge, the lesser of (1) five percent (5°0) of the delinquent rental payment, or (2) Fve Dollars (55.00) (or
such higher monetary amount as may be permitted by law at the time of such delinquency).
6. REGISTRATION, LICENSE, EXPENSES, FEES AND TAXES ON EQUIPMENT, The Lessee shall pay all expenses incurred in
the use and operation of the Equipment, including all registration and license fees. fuel and maintenance expenses, repairs, towing charges.
fines, penalties, personal property and other ad valorem taxes and all assessments and other governmental charges payable on the
Equipment or on the possession and use thereof. The Lessee shall reimburse and hold the Lessor harmless for any and all amcunts the
Lessor may pay in satisfaction, release or discharge thereof.
7. SELECTION, DELIVERY AND INSTALLATION COSTS OF EQUIPMENT.
(a) Selection of Equipment. The Lessee hereby acknowledges that ifhas selected the type and quantity bf the Equipment. !hat it
(the Lessee) has selected the Equipment solely in reliance on the manufacturer's and/or dealer's warranties and representations, and that
the Lessor has not made any repBSehia[ipns t0 the Lessee COnCEming the use, Condition, Operation, effigiengy Or safety Of the Equipment.
The Lessee also acknowledges that the salesmen orother agents of the manutacfurerand/or dealer (sometimes hereafter referred to as the
~' Vendor") are not the agents of the Lessor, and therefore, are not authorized to waive or alter any term, covenant or condition of this Lease.
(b) Delivery of Equipment The Lessor will order the Equipment from the Vendor selected by the Lessee for delivery to the Lessee
(based on shipment terms determined by the Lessee) at the time and place set forth in the Equipment Lease Schedule. If the Vendor tails to
meet the Outside Delivery Date set forth in the Equipment Lease Schedule, either the Lessor or the Lessee may, at its option, terminate the
Equipment Lease Schedule by giving the other written notice thereof within ten (10) days after the expiration of the Outside Delivery Date:
provided, however. the termination o1 the Equipment Lease Schedule shall not relieve the Lessee of its obligation to pay any accruee but
unpaid Cartying Charges (as defined in the Equipment Lease Schedule) owed to the Lessor.
(c) Delivery and Installation Costs. The Lessee shall pay all transportation costs, sales. excise or use taxes, handling and
installation charges for the Equipment: provided, however, if such charges are advanced by the Lessor, the Lessee shall have the option of
Having the amount of such charges added to the Caprtalaed Cost of ;he Equipment.
B. INSPECTION AND ACCEPTANCE OF EQUIPh1ENT; REJECTION.
(a) The Lessee shall make. at its own expense. au necessary inspections antl tests of the Equipment l0 determine whe!her the
Equipment conforms to the Lessees regwrements and saeat~caoons within the Inspection Penod specified m the Equpment Lease
Schedule.
(b) Unless the Equipment is re;ecteg pursuant to parag•apn 91c1 b?!ew. the Lessee shall promptly deuver to the Lessor an exruteg
Acceptance Certifcate Ithe ~-Accep:ance Cem(~cate~~) upon ;rte cgmp~-e:~o^ of ~!s inspac:ion c! :he Egwpment. THE LESSEE HEREBY
AGREES NCT TO PUT THE ECUIPh!ENT TO ITS INTENCED USE OTHER THAN FOR INSPECTION AND TESTItJG PUFPCSES
PFICR 70 THE EXECUTION A.ND CELI`JERV OF THE ACCEPTANCE CERTIFICATE TO THE LESSOR IF THE LESSEE fNI~~S TJ
OELIVE'r. THE ACCEPTANCE CERTIF;CATE. OR IF THE LESSEE GOES NOT REJECT THE EOUIPt,'ENT PURSUAtJT TC PARA-
GRAPH 8,ci BELO'r J. PRIOP TO THE EXPIRATION OF THE INSPECTION PERIGD. IT SHALL EE CONCLUSIVELY P2ESV .1c
EETWEEN THE LESSOR AND THE LES_SE=SHAT THE EOUIP..`dENT_.~':?S DELIYEFED TO THE LESSEE IN GOOD CC'JDITIGN Af:C
THAT R HAS BEEN ACCEPTED BY 7HE'LESSEE.
Iq The Lessee may reject the Ewipment d such re;ecion ~s permired untler the Hawaii Urnform Commercial Cxe or are c:^er
appl~capie law ggveming the~sale of goods- If the Lessee elects to re;ect the Ecuipment, the Lessee agrees p) to prompuy nputy :na Lasser
a^d the Vendor rn wining that the Equipment has Deen releC,ed and the reasons therefor, pi) to cooperate wrtn the Lessor m c;,rs.p;ying a<f^,
a::ne Lesse_-sown excense. all ar pl~(able laws dealing with the obl~ggt~ons of a purchaser in re;eCmg the Egwpment. and pin to icdem.^.. `,
a-g hGg narrnless the Lessor from au Cairns, tlamaoes. anions. costs and expenses IinauC~ng attomeys~ fees) and IiaDihUes ansing out o! c•
_.,.;nec:ea v:nn the re;=cupn of the Equfptrent'by the Lessee. n r ~,
?. WARRANTIES. .•.` •'°•. 1., :i ,• U
tai No t~ssor's Warranties. THE LESSOR,-NOT BEING THE h!ANUFACTURER OF TY.E EOUIP~!ENT NOR THE L1A':UF:.C-
TUFER~$ AGENT, b!AKE$ NO EXPRESS OR IMPLIED ~'r'ARRANTI' OF A.NY KIND t'JHATSCEYER VJITH P.ESPECT TG THE EG'JIO-
`.1ENT INCL'JDI'JG 6UT NOT LIMITED TO. THE h'.ERCHANTABIUT\' OFTHE ECUIPh1ENT OR ITS FITNESS FOR ANY PARTICUL-=
PURPOSE. THE DESIGN OR THE CONDITION OF THE EOUIPht'cNT. THE ::OnKh1ANSHIP OF THE EQUIPMENT: CC•'.1PLIANCE CF
THE EQUIPrdENT :PITH THE RECUIFE".1ENT5 OF ANY LA': J. RULE. SPECIFICATION OR CONTRACT PERTAINING THERETO: CR
Arty DEFECTS'CJHATSGEVER, IT EEItJG UNDERS7000 THAT 7He" ECU!P ,1ENT IS BEING LEASED TO THE LESSEE 'AS IS
COMMERCIAL EQUIPMENT LEASE AGREEMENT
(b) Vendors Warranties to be in~u of All Others. THE LESSEE HEREBY AC.../ES THAT THE VENDOR'S EQUIPMENT
WARRANTIES SHALL BE IN LIEU OF ALL OTHERS. EXPRESSED OR IMPLIED. DURING THE TERM OF THIS LEASE. AND THAT THE
LESSOR SHALL NOT BE LIABLE TO THE LESSEE FOR THE LOSS OF ANY PROFITS. LOSS OF WORKING TIME. INJURY TO ANY
PERSON OR PROPERTY, LOSS OF BUSINESS OR ANV OTHER DAMAGES. DIRECTOR INDIRECT. SPECIAL. CONSEQUENTIAL
OR OTHERWISE CAUSED OR RESULTING FROM THE POSSESSION, USE AND LOSS OF USE OFTHE EQUIPMENT; THE LESSEE
SHALL MAKE ANY CLAIM ON ACCOUNT THEREOF SOLELY AGAINST THE VENDOR. The Lessor agrees to assign solely for the
purpose of assisting the Lessee in the assertion of his claim, all of the Lessor' S rights to any Vendor warranties on the Equipment. All claims pr
actions under any Vendor warranties shall be made by the Lessee, at its own expense, and the Lessor shall have no obligation to make any
Cairn on any such wamanry; provided, however, if to the extent any breach of warranty results in damage or liability to the Lessor or the
Lessor's interest in the Equipment. Lessor may, but shall not be under any obligation to. make or prosecute a claim or action in aCdition to or
in lieu of any claim or action by the Lessee.
(c) Notwithstanding any claim which may be asserted Dy the Lessee against the Vendor, the Lessee shall pay to the Lessor all rent
payadle under this Lease. the Lessee's obligation to pay all such rent Ceing absolute and unconditional. Any proceeds recovered by the
Lessee from any such claim against the Vendor of the Equipment shall lirst be used to repair the affected Equipment.
10. TITLE TO AND LOCATION OF EQUIPMENT; NO ATTACHMENT TO REALTY; NOTICE OF OWNERSHIP; ADVERTISE-
MENTS.
(a) Ttle to the Equipment Shall remain with the Lessor at all times dntl the Lessee Shall have n0 right, title Or interest herein except a5
expressly set forth in this Lease.
(b) The Equipment shall at all times be and remain personal property even though the Equipment may now or hereaher be affixed to
realty.
(c) The Equipment shall be delivered to the location specified in the appropriate Equipment Lease Schedule and shall not thereafter
he removed from such location without the written consent of the Lessor.
(d) TheLessor Shall be permitted to display notice of its ownership of the Equipment by affixingto the Equipment an identifying stencil
or plate or any other indicia of ownership, and the Lessee shall not alter, deface, cover or remove such ownership identification.
(e) Notwithstanding any provision to the contrary, the Lessee may affix advertisements or insignia of the Lessee's design tp the
Equipment but the Lessee shall, upon the expiration of the Rental Tenn, restore the Equipment to its original condition prior to the installation
thereof and remove all evidence of the same: all expenses for the installation and removal of the same shall be home by the Lassee.
17. INSURANCE: NOTICE OF ACCIDENTS AND COOPERATION. The Lessee agrees to provide and maintain at its sole
expense:
(a) A policy of public liability insurance issued by a financially responsible and substantial insurer which (1) insures the Lessor. the
Lessee and the Lessee's agents, servants and employees with respect to their liability for injury to persons and damage to property of
persons resulting from or arising put of the operation of the Equipment. (2) names the Lessor as an additional insured. (3) provides products
liability coverage (if requested by the Lessor) and (4) shall be in such amounts as are reasonably satisfactory to the Lessor.
(b) A policy of insurance issued by a financially responsible and substantial insurer insuring the Equipment against all hazards
requested bythe Lessor, including butnot limited to, tire, lightning, explosion, smoke damage, theft, vandalism and malicious mischief. water
damage. transportation hazards, and extended coverage. Such insurance shall name the Lessor as the loss payee and shall be in such
amounts as are reasonably satisfactory to the Lessor; all proceeds from such insurance shall be credited by the Lessor toward the lessee s
obligations under paragraph 12 below, and it is understood and agreed by the Lessee that the balance of the proceeds, it any, shall be the
property of the Lessee.
(c) THE LESSEE SHALL BE FREE TO PROCURE THE INSURANCE REQUIRED BY THIS LEASE FROM ANY INSURANCE
COMPANY AUTHORIZED TO DO BUSINESS IN THE STATE OF HAWAII; PROVIDED. HOWEVER. THE LESSOR RESERVES ITS
RIGHT TO APPROVE OR DISAPPROVE THE INSURANCE COMPANY SELECTED BY THE LESSEE TO UNDERWRITE THE INSUR-
ANCE.
All insurance shall be in farce not only during the Rental Term of the Equipment, but from the date of execution of the Equipment Lease
Schedule. or, if the Equipment is ordered from a Vendor, from the date risk of loss passes from the Vendor until the date the Equipment is
returned to the Lessor at its place of business or other place designated by the Lessor for the return of the Equipment (or, in case the
Equipment is lost or destroyed, until the Lessee s obligations are terminated pursuant to paragraph 12 below). All insurance shall provide for
a thirty-day prior written notice to the lessor of any cancellation or change in coverage. The Lessee shall furnish the Lessor with a certificate
or other satisfactory evidence of the maintenance of all insurance required hereunder. Nonvithstandingfhe foregoing, the Lessee shall have
a continuing duty to inform the Lessor of the cancellation of any insurance required herein.
The Lessee hereby irrevocably appoints the Lessor as its attorney in tact with full power to negotiate. prosecute, or settle or
compromise all claims or actions under or pursuant to such insurance policies. and to execute in the name of the Lessee any proofs of claim
or loss, and to indorse in the name of the Lessee on any settlement, draft or check. The Lessee shall cooperate in the prosecution of all
claims.
The lessee shall also provide and pay for any other insurance or bond that may be required by any governmental authority as a
condition to, or in connection with, the Lessee's use of the Equipment.
In the event the Equipment is involved in any accident, damaged, stolen or destroyed, the Lessee shall report the same to the Lessor
in writing within 24 hours, and the Lessee agrees to cooperate fully with the Lessor and any insurance carriers in the investigation and
defense of any and all claims or suits arising from the Lessees operation or use of the Equipment.
The Equipment shall not be used by any person, in any manner, or for any purpose that would cause any insurance required herein to
be suspended, cancelled, rendered inapplicable or increased in cost.
12. LOSS, DAMAGE TO OR DESTRUCTION OF EQUIPRIENT.
(a) The Lessee shall bear the risk of loss. damage to or destruction ("Lass") of the Equipment, whether resulting from fire, theft.
collision, governmental action or any cause whatsoever, and regardless of whether the loss is covered by insurance or not. from the date of
execution of the Equipment Lease Schedule (or if the Equipment is ordered from a Vendor, then from the date risk of loss passes from the
Vendor) until the Equipment is returned to the Lessor upon the expiration of the Rental Term or earner termination of this Lease.
(b) ANY LOSS OF THE EQUIPMENT SHALL NOT RELIEVE THE LESSEE OF ANY OBLIGATIONS UNDER THIS LEASE.
INCLUDING ITS OBLIGATION TO PAY RENT, UNLESS AND UNTIL THE LESSEES OBLIGATIONS ARE TERMINATED BY THE
LESSOR PURSUANT TO PARAGRAPH 12(d) BELOW.
(c) If the Equipment is damaged. the Lessee shall promptly repair the same at its own expense. When such damage has been
repaired to the satisfaction of the Lessor and paid for, there shall be Paid or crepitetl to the account of the Lessee. any money received by the
Lessor on axount of any insurance policy maintained by the Lessee with respect to such damage under paragraph 11 above.
(d) If any Equipment is stolen, lost. confiscated or damaged beyond repay, the Lessee shall pay the Lessor, in cash. the ~~Casualry
Loss Value" specified in the Equipment Lease Schedule, less the amount. d any, to be refunCed to the Lessee under Sec::cn »76-27 of the
Hawaii Revised Statutes. as amended. Upon the receipt of such payment. the Lessor shall, subject to the rights of any insurer prpviding
coverage on the Loss. transfer to the lessee all of the Lessors interest in the Equipment subject to the Loss (on an "as is" basis) and the rent
payable to the Lessor under this Lease shall be reduced by the amount of rent atthbutable to such Equipment.
t3. LESSOR'S PERFORMANCE OF LESSEE'S OBLIGATIONS. It ;he Lessee shall fail to perorm promptly any of rts cpl~dations
under this Lease. the Lessor may, at its option, perform any act or make any payment which the Lessor deems necessary for the
maintenance and preservation of the Equipment and the Lessors title tnoseto. incluCmg payments for satisfaction of liens. repairs, taxes.
IevieS, and insuranpe, rind all sums paid Of.inCUrred by the LesSJf in CJn neC:'on thele'a'dh. shrill be ddddiOndl rent Under this LedSe rind
payable by the Lessee to the Lessor on demand. The performance of any act or payment by the Lessor shall not be deemed a waiver or
release Ot any Obligation Or default on the part of the Lessee.
t4. SECURfiY DEPOSIT. Upon the execution of this Lease the Lessee shall Ceposit •.vdh the Lessor the amount stated in the
Ecu~oment Lease Schedules as security for the full and fadhful performance by the Lessee of all terms. covenants and agreements required
under this Lease. The Ceposit shall not be construed as rent (unless accepted by the Lessor in writing as rent) or release the lessee of any
cciigaticn t0 the Lessor. dntl at any time the Lessor may apply the Same to the payment pf any indebtedness of the Lessee or any loss or
expense incurred by the Lessor because of any default by the Lessee ,and the deposit or the balance thereof shall be returned to the Lessee
IwithOtlt intere5tl upon per:Ofmdnce by the Lessee Of rill o01iCalicn5 IO lhd Lessd/.
' 15. MAINTENANCE OF EOUIPhC(; ALTEAATION. The Lessee shall at all ~s repair and maintain the Egwpmont in
accordance wnh standards of good mamtenance. and at the expration of the Rental Term shall return the EGwpment to the lessor .n good
ccerahng condmon. subject to normal wear and tear of the Equipment based on the age and the extent and nature of the use of trio
Egwpment. The Lessee may, with the Lessor's consent. alter and remodel the Equipment, and install thereon and remove therefrom any
dCCe550fie5 and equipment a5 the Lessee Shall COnSider adv15able for the purpose Of il5 OperaLOnS bu(not in excess Of the manufacturer 5
rated CapaGry Of the Egwpment provided, however, Thal the Lessee shall at the lerminaUOn of this Lease (d 50 required by the Lessor),
restdre [he Equipment [O its Original COntlitlOn. SUbledt to normal wear antl tear. All parts 'which ale inCO/pdrafed into the Egwpment Shall b@
the property of the Lessor, and all parts removed therefrom and replaced in the course of repair, alteraUOn and remodelling or restoration
thereof, shall be the property of the Lessee.
16. USE OF EQUIPMENT, LESSOR'S INSPECTION AND REPORTS. The Lessee may possess and use the Equipment in
accordance with this Lease. provided that any such use is in conformity with all applicable laws, any insurance policy and any manufacturer s
wartannes covering the Equipment The Lessor shall have the right, upon reasonable prior notice to the Lessee and during the Lessee's
regular business hours, to inspect the Equipment at the premises of the Lessee dreherever the Equipment may be located. The Lessee shall
promptly notify the Lessor of all details arising out of any change in location of the Egwpment. any alleged encumbrances thereon or any
accident allegedly resulting from the use or operation thereof.
17. LESSEE'S PURCHASE OPTION. It provided in the equipment lease schedule. the lessee shall have an option to purchase the
equipment upon the terms and conditions contained therein.
t8. SURRENDER OF EQUIPMENT. Upon the expiration of the Rental Term, and subject to the provisions of paragraph 17 above.
the Lessee shall, at its awn expense. deliver the Equipment, in good repair, condition and working order, ordinary wear and tear resulting
from proper use and maintenance excepted, to the location or person designated by the Lessor for the return of the Equipment.
29. ASSIGNMENT BY LESSOR.
(a) The lessee agrees that the Lessor may assign to a third parry (the "Assignees") all or any part of the monies and all claims fcr
monies due and to become due to the Lessor under this Lease. and all rights to terminate this lease, and upon the receipt of written notice of
such assignment, the Lessee shall pay to the Assignee such assigned monies. and the Lessee's obligation to pay said monies to the
Assignee shall be absolute and unconditional and shall not be subject to any defense or offset. Such obligation shall contnue unless and until
the Lessee shall have received a written notice from the Assignee that all of the indebtedness secured by such assignment has been paid in
}till. ,
(b) The Assignee shall have no obligations or liability under this Lease by reason of such assignment, but the Lessor shall not be
relieved from its obligations hereunder; in no event shall the Assignee be required or obligated in any manner to perform or fulfill any
obligations of the Lessor under this Lease.
(c) The Lessee acknowledges. consents and agrees that this lease and all rights in and to the Equipment, including the Lessee's
right of possession, are subordinate, junior and subject to the right and claims of the Assignee against the Equipment under any mortgage.
title retention or other security agreement, whether now existing or hereafter created, including but not limited to the right of the Assignee to
repossess or recapture possession of the Equipment.
20. ASSIGNMENT BY LESSEE. The Lessee agrees that it shall not assign, transfer, sublet or lease its rights under this Lease, and
will not pledge. mortgage or otherwise encumber the Equipment.
21. DEFAULTS. If the Lessee shall (7) default in the payment of rent or any amount due to the Lessor; (2) default in the observance
or performance of any term, covenant or condition of this Lease, and such default shall not have been remedied within the period specified in
a written notice to the Lessee of such default: (3) die, or become incompetent or insolvent; (4) fail for any reason to comply with the insurance
requirements of this Lease, or if the insurance is cancelled by the Lessee prior to the termination of this Lease; (5) create any lien or
encumbrance on the Equipment; orif (6) a proceeding in bankruptcy, receivership, reorganization or insolventy i5 instituted by or against the
Lessee or his property, or the Lessee makes an assignment forthe benefitof his creditors; or (7) the Equipment is involuntarily transferred by
operation of law, confiscated, attached, seized or threatened with confiscation, attachment or seizure; or if (6) the Lessee shall be in default
under any other lease between the Lessor and the Lessee and any applicable grace period therefor nos expired; orif (9) the Lessee shall
engage in any act or activitywhich, in the Lessor's exclusivejudgment, shall in anyway prejudice or render insecure the Lessor's rights in the
Equipment. THEN in any of such events, the Lessor may terminate this lease, or, at its election, exercise any one or more of the following
remedies. with or without terminating this Lease:
(a) Recover from the Lessee the sum of all rent and other sums due and to become due to the Lessor (with each rental payment being
discounted from its due date to its corresponding present value based on a rate of interest equal to two percentage points below the Lease
Rate specified in the Equipment Lease Schedule);
(b) Enter upon the Lessee's premises and take possession of the Equipment, without notice or demand and without any court order
or other process of law. The Lessee hereby waives any damages occasioned by such taking of possession;
(c) Lease the Equipment to any other person(s) upon such terms and conditions as the Lessor, in its discretion, shall determine:
(d) Self or otherwise dispose of the Equipment in such commercially reasonable manner as the Lessor shall determine;
(e) Bring an action for damages or pursue any other remedy provided by law.
No right or remedy herein conferred upon or reserved by the Lessor is exclusive, but shall be cumulative and may be enforced
separately or concurrently from time to time. The proceeds of any rental or sale of the Equipment, after deducting all costs antl expanses
incurred in the repossession, repair, storage, rental or sale. shall be credited to the payment of the Lessee's obligations hereunder. The
Lessee shall remain liable for any deficiency. A termination of this Lease shall occur only upon written notice by the Lessor to the Lessee.
Regardless of the remedy or remedies pursued by the Lessor, the Lessee shall be liable for all costs of collection, repossession, storage.
rental, sale or other charges incurred by the Lessor in enforcing any of its rights hereunder, including reasonable attorney's fees and costs.
22. FORCE MAJEURE_ The Lessor shall not be liable for any delay in delivering the Equipment. or for any failure to perform any
provision hereof. resulting from fire or casualty, riot, s Vike or other labor difficulty, governmental regulation or restriction or any cause beyond
the Lessors control. -
23. NO WAIVER. The failure of either the Lessor orthe Lessee in any one or more instances to insist upon the performance of any of
the terms. covenants or conditions of this Lease. to exercise any right or privilege in this Lease conferred or the waiver of any breach or any
term. condition dr covenant of this Lease. shall not be construed as thereafter waiving any such term. condition, covenant. right or privilege.
but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. Without limiting ;he
foreeoing, the Lessor s acceptance of any partial payments or delinquent payments (and any late charges thereon) shall not be deemed to
ee a waiver oy the Lessor of any term, condition orcovenant of this Lease to be performed orebseryed by the Lessee. and the Lessor shall be
entitled to pursue any remedy available to it hereunder until the Lessee has fully performed all of its obligations under this Lease.
24. NOTICE. Any notice given under this Lease by the Lessor to the Lessee may be given personally or by certified mail, postage
prepaid. addressed to the Lessee at the Lessees address as set forth in this Lese. Any notice given under this lease by the Lessee to the
lessor snail he given by sending the same by certified mall, postage prepaid, to the Lessor at its aodress as set forh in this Lease or by
serving the same personally at the office of the Lessor.
25. INDEMNIFICATION. The Lessee agrees to indemnify and hold harmless the lessor. its successors and assigns. trcm ail
losses. damages, injuries. claims. tlemands. costs and expenses. (including attorney s fees incurretl by the Lessor in the defense cf any
claims or acnons). arising out of the condition. maintenance. use or operation of the Equipment during the term of this Lease. ~nciuding
without limitation, losses. Camages, claims, costs. expenses and liabilities arising !rpm the death or injury of any person or damage to any
prddery. regardless Of whether such losses. damages. COSIS. expenses or liabilities were actually or allegedly caused wholly or in part by the
neg5gence of the Lessor or any of its agents or employees.
26. FURTHER ASSURANCES. The Lessee shall execute and deliver to the Lessor upon the Lessor's request, such instruments
3r.d dsSUrdnces a5 the Les$dr deems necessary fill the CdnfirtTldtiOn Or perfection Of IhiS Lease and the LesSOf s rights hereunder. In
'urtherande thereof, the Lessor may file or record ;his Lease or a financing statement with respect thereto so 35 to give notice to any
interested panes. Any such tiling or recprding shall not be deemed evidence of any intention to create a security interest under the Undorm
Commercml Code.
27. HALYAII LAW, SEVERABILITY. This Lease and the rights and pciigauons of the parties hereunder shall be construetl.
~n;eroretetl ono determined by the laws of the State of Hawaii. II any provison of this Lease snarl be declared illegal or contrary to law, rt Is
CCr..•inue0 Cn : ecerse srae
( ~ ^^ /~
a4ree0 That such provision shall be disregarded~l this Lease shall continue in force as though` '~ provision had not been incorporated
h:;rem. ~J
28. LIMITATION ON INTEREST PAYMENTS. Notwithstanding any provision to the contrary. any payments in the nature of interest
made by the Lessee shall in no event, contingency or wrcumstance exceed the mawmum perrnmed under the laws of the State of Hawaii. It
any such payment shall involve transcending the limits of validity prescribed by law, then, automatically, the Lessee's obligation for such
payment shall be reduced to the limit of such validity prescribed by law. Notwithstanding the foregoing limitation, it it is determined at the
termination of this Lease that any excess interest has been received, the Same Shall be tleemed to have been held as additional security. The
foregoing provisions shall never be superseded or waivetl and shall control every other provision of all agreements between the Lessor and
the Lessee.
29. GENERAL PROVISIONS. This lease shall be binding upon and inure to the benelit of the respective personal representatives,
successors and permitted assigns of the parties hereto. The use of any gender shall include all genders. The obligations of all persons
signing this Lease as Lessee shall be joint and several.
30. NATURE OF TRANSACTION. The parties have caused the words "Retail Installment
Contract" to be printed at the top and in the contract hereof and have caused the seoofCeroo
the Buyer" and other disclosures to be made in this Lease solely for the purpo p
tectin9 the interest of the Lessor if the transaction evidenced by this Lease is deemed to
be a "retail installment sale" within the meaning of Chapter 476 of the Hawaii Revised
Statutes, as amended. T;
IN WITNESS WHEREOF, the parties have executed this instrument on this 9 day of
UMW , 19 Q~ .THE LESSEE HEREBY ACKNOWLEDGES RECEIPT OF A SIGNED COPY OF
T IS CONTRACT.
NOTICE TO THE BUYER
~. Do not sign this contract before you read it or it it contains any blank space.
2. You are entitled to a completely filled in copy' of this contract when you sign it. .
3. Under the law, you have the following rights, among others:
(a) To pay off in advance the full amount due and to obtain a partial refund of the finance charge, if paid in
advance;
(b) Under certain conditions, to redeem the property it repossessed for a default.
RETAIL INSTALLMENT CONTRACT
COUNTY OF WAII
FIRST H AIIAN B
By ~aM~ By '~
Its LESSOR ItsX, ?~':+ jOr
LESSEE
*This Lease also includes Equipment Lease Schedu1983~ which areaattached
Rider No. 1, both dated ~(!~E 9
hereto.
AP~fi~'~~~ as to
FOR anc? I EvAi ITY
c n~o~~ r ~~a c,_ ~_~r~~
cour-;T~r ~,= r~~~.v~.n
J U Pd G 8 1983
Date ..---°-------------._..._....__...-.._..
0 0
LEASE RIDER N0.
Commercial Equipment Lease Agreement No. 793
dated QiJ.tiiL 9 1983 (the "Lease") is amended
by adding the following:
1. Re-Affirmation of Lease; Appropriation of Funds.
a. At the commencement of each fiscal year of
the Lessee, the Lessee shall re-affirm to the Lessor in
writing the continuation of this Lease. If the Lessee does
not re-affirm the continuation of this Lease, the Lessee
shall return the Equipment to the Lessor at the time and
place designated by the Lessor. The Lessor shall thereupon
sell the Equipment in a commercially reasonable manner at
the best available price, given the surrounding circumstances
of any such sale. The Lessee shall bear all costs and ex-
penses of sale incurred by the Lessor, including caithout
limitation, advertising costs, transportation costs, long-
distance telephone charges, and documentary transfer costs.
b. The lease balance payable to the Lessor in the
event of an early termination of this Lease is shown in Ex-
hibit "A" attached hereto and made a part hereof, with the
amount payable set forth opposite the month in which the ter-
mination occurs. Interest shall accrue on the lease•balance
from the date this Lease is terminated until the date the
Equipment is sold at the rate of ten percent (10~) per annum.
If requested by the Lessor., such interest shall be payable
at least monthly on demand. As used in subparagraph c below,
the term "Termination Lease Balance" shall mean the sum of
the lease balance shown in Exhibit "A" and the amount of
accrued interest.
c. Upon the sale of the Equipment, the Lessee
shall pay to the Lessor any deficiency balance remaining
after deducting from the Termination Lease Balance the net
proceeds of sale received by the Lessor from the sale of
the Equipment. Any interest paid by the Lessee prior to the
date of sale pursuant to subparagraph b above shall be
credited to the account of the Lessee. If the net proceeds
of sale shall exceed the Termination Lease Balance, the sur-
plus shall be the property of the Lessee.
d. The Lessee warrants that an appropriation of
funds covering the lease rent and operating costs for the
current fiscal year has been authorized in compliance with
all applicable state and county laws. This warranty shall
be re-affirmed when the continuation of this Lease is re-.
affirmed by the Lessee at the commencement of each fiscal
year.
e. The Lessee shall not terminate this Lease prior
to the expiration of the lease term for the purpose of re-
placing the Equipment with a helicopter acquired from a third
party.
0 0
2. Option to Purchase. Paragraph 12 of the Equip-
ment Lease Schedule relating to the Lessee's purchase option
right shall be amended by adding the following:
If the Lessee shall not be in default
under any provisions of the Commercial
Equipment Lease and the Lessee shall
have given the Lessor sixty (60) days'
prior written notice of its intention
to exercise the option granted herein,
the Lessee shall have the option to
purchase the Equipment at any time
during the lease term, on an "as is"
basis, for the amount shown as the lease
balance for the month in which the Equip-
ment shall be purchased by the Lessee,
plus the amount of any applicable Hawaii
general excise tax thereon.
3. Insurance. With respect to the insurance require-
ments described in paragraph 11, the Lessee shall maintain
during the term of this Lease (a) public liability insurance
in an amount equal to $10,000,000.00 per occurrence for per-
sonal and property damages and (b) "all risk" hull insurance
in an amount equal to the full replacement cost of the Equip-
ment. Notwithstanding the provisions of paragraph 11, the
Lessee shall maintain such insurance in effect until the
Equipment is sold by the Lessor pursuant to paragraph 1 above.
4. Registration of Title. The Lessor authorizes the
Lessee to register the Equipment with the Federal Aviation
Administration in full compliance with all applicable laws
and regulations.
COUNTY OF HAWAII
~., :~
--
---- ------- ----------
J U ^1 G 8 1983
Date .____.______
By „~,
Its T^3cvOr
FIRST HAS9AIIAN BANK
By ~
Its
-2-
j1 EXHIBIT "A" O
FHB - EQU~rP MENT LEASE
SCHEDULE OF .VALUES
LESSEE: COUNTY OF HAWAII
LEASE N0: 793
CAP. COST X376,240.00
pMT. N0. DUE DATE BALANCE
pl 06/83 369328.47
02 07/83 365492.95
03 08/83 361625.48
04 09/83 357725.80
05 10/83 353793.64
06 11/83 349828.73
07 12/83 345830.80
O8 01/84 341799.57
09 02/84 337734.77.
10 03/84 333636.11
11 04/84 329503.32
12 05/84 325336.11
13 06/84 321134.19
14 07/84 316897.27
15 08/84 312625.06
16 09/84 308317.27
17 10/84 303973.60
18 11/84 299593.76
19 12/84 295177.44
20 01/85 290724.34
P1 02/85 286234.15
2P 03/85 281706.56
23 04/85 277141.26
24 05/85 272537.94
25 06/85 267896.28
26 07/85 263215.96
P7 08/85 258496.66
P8 09/85 253738.06
29 10/85 248939.82
30 11/85 244101.62
31 12/85 239223.13
32 Ol/86 234304.00
33 02/86 229343.90
34 03/86 224342.49
35 04/86 219299.43
36 05/86 214214.37
37 06/86 209086.96
38 07/86 203916.84
39 <Og/86 198703.66
40 09/86 193447.06
41 10/86 188146.68
42 11/86 182802.16
43 12/86 177413.12
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
o ~~ ~ o
01/87
02/87
03/87
04/87
05/87
06/87
07/87
08/87
09/87
10/87
11/87
12/87
01/88
02/88
03/88
04/88
05/88
06/88
07/88
08/88
09/88
10/88
11/88
12/88
01/89
02/89
03/89
04/89
05/89
171979.20
166500.02
160975.21
155404.39
149787.17
144123.16
138411.98
132653.23
126846.52
121991.45
115087.61
109134.60
103132.01
97079.43
90976.44
84822.62
78617.55
72360.80
66051.94
59690.53
53276.14
46808.33
40286.65
33710.65
27079.88
20393.89
13652.21
6854.38
1.00
RST HAWAIIAN BANK
0. Box 3200
nolulu, Hawaii 96847
25 Aupuni Street
Hilo
Citp
Address
Telephone No.
HI 96720
State Zip
-
Quantity
~^~ No• Equipment
(Aianufacturer, T)•pe, Model No., Description) Acquisition Cost
("Capitalized Cost" of Equipment)
u9 es assenger a 402 153.85
See Attached Helico ter
Exhibit A 4°o Tax 16 086.15
Less Lessee Downpayment 42 000.00
Total Capitalized Cost of Equipment- E 376 240.00
This Acceptance Certificate pertains to all or a portion of the Equipment covered by Master Lease Agreement
No. 793 ,dated 19 83 .The Tiaster Lease Agreement and all Equipment Lease
Schedules attached thereto are hereinafter called the "Lease".
1. Acceptance of Equipment. The Lessee hereby certifies to the Lessor that (1) all of the Equipment described above and
in any Exhibit A" attached hereto, have been delivered and installed and (2) that the Lessee has accepted the Equipment
as being satisfactory in all respects.
2. Special AcknoR•ledgements.
A. The Lessee Acknowledges:
i. That the Lessee has selected the type and quantity of the Equipment; that theZessee has selected the
Equipment solely in-reliance on the manufacturer's and/or dealers warrantiesand representations; that the Lessor
has not made any representations to the Lessee concerning use, condition, operation, efficiency or safety of the
Equipment; and that the salesman or other agents of the manufacturer and/or dealer (hereafter referred to as the
"Vendor") are not the agents of the Lessor, and therefore, are not authorized to naive or alter any term, covenant or
condition of the Lease.
2 THAT THE LESSOR, NOT BEING THE MANUFACTURER OF THE EQUIPMENT NOR THE
MANUFACTURER'S AGENT, MAKES NO EXPRESS OR IMPLIED WARRAIQTY OF ANY KIND «'HAT-
SOEVER WITH RESPECT TO THE EQUIPMENT, INCLUDING BUT NOT LIhSITED TO: THE MER-
CHANTABILITY OF THE EQUIPMENT OR ITS FITNESS FOR ANY PARTICULAR PURPOSE; THE
DESIGN OR THE CONDITION OF THE EQUIPMENT; THE ~i'ORKMANSHIP OF THE EQUIPMENT;
COItiPLIANCE OF THE EQUIPMENT WITH THE REQUIREMENTS OF ANY LAW, RULE, SPECIFICA-
TION OR CONTRACT PERTAINING THERETO; OR ANY- DEFECTS ~4'HATSOEVER; IT BEING UNDER-
STOOD THAT THE EQUIPMENT I5 BEING LEASED TO THE LESSEE "A5 IS".
B. The Lessee hereby agrees with the Lessor.
1. That the Vendors equipment µ•arranties shall be in lieu of all others, expressed or implied, during the term
ofhe Lease, and that the Lessot shall not be liable to the Lessee forthe loss of any profits, loss of ~•orking time, injun~
Lo an}• person or property, loss of business or an}• other damages, direct or indirect, special, consequential or
othenrise caused or resulting from the possession, use and loss of use of the equipment; that the Lessee shall make an}•
claim on account thereof solely against the Vendor; that the Lessor has agreed to assign solely for the purpose of
assisting the Lessee in the assertion ofhis claim, all of the Lessor s rights to any Vendor warranties on the Equipment;
that all claims or actions under any Vendor warranties shall be made by the Lessee, at its oµm expense; and that the
Lessor shall have no obligation to make any claim on any such warranty; pro~~ded, however, if to the extent any
breach of warranty results in damage or liability to the Lessor or the Lessor's interest in the Egnipment, Lessor ma}•,
but shall not be under any obligation to, make or prosecute a claim or action in addition to or in lieu of an}• claim or
action by the Lessee.
2. That notwithstanding any claim which may be asserted by the Lessee against the Vendor, the Lessee shall
pa}•to the Lessor all rent payable under this Lease, the Lessee's obligation to pa}• all such rent being absolute and
unconditional.
3. Pa}'ment Authorization. The Lessee hereb}• authorizes the Lessor to pa}• for the Equipment in accordance
Kith the terms of an}• purchase orders for the same.
G•.~i--,•• -... cs ~~
ever ~ ~: i yi,~. - _ ;~ - _
,ti
., o ;y;;~
ACCEPTANCE CERTIFICATE O
n For 793
Lgdipment Lease Schedule No.
LESSEE: Name COUNTY OF~HAWAII
DATE:X June n lg 83
COUNTY OF HAWAII
(\ o
B}• ~_
Its( 'flavor
FIRST HAhtAIIAN BANK O
RETAIL I1\'STALLl1E:~'T CONTRACT
EQUIP11fENT LEASE SCHEDULE :v0. 793
1. DESCRIPTION OF EQUIPBiENT
;'Serial No. Quantity - Equipment
(Manutac[tue~. 7}pe, Yodel No., DescriptiaN .. Acquisition Cost
("Capitalized Cost" of Equipment)
ug es assenger a 402 153.85
See Attached a lcoo er
Exhibit A 4T Tax 16,086.15 I
Less Lessee Downoavlren 42 000.00
- Total Capitalized Cos[ of Equipment: S 376 , 240. DO
2. KE\ I'AL TERFI: 72 months
The Rental Term ("Rental Term") shall commence on the eailier of (a) date of expiration of the inspection period
specified in paragraph 7 below for all Equipment described above, or (b) the date on which the Lessee executes the
Acceptance Certificate for such Equipment, and shall continue for the period (number of months) specified above, it being
the intention of the parties that the stated Rental Term be the same for all items of Equipment described above.
3.:1i0NTHL.Y RElv"fAL PAYl1fENT: $ 6 ,911 .53
TOTAI. MONTHLY RE1"fAL PAY3fE1VT $ 6 ,911 .53 •
LE_~SE FACTOR: 18. 37 PER THOUSAND DOLLARS OF CAPITALIZED COST OF EQUIP'.1IE\"T
LEASE RATE: 10.00 9o per annum
Upon the commencement of the Rental Term, the Lessee shall pay to the Lessor the Total i/ionthl ~ Rental Pa}-ment
specified above. The Lessee hereby acknowledges and agrees that the Total 1lonthly Rental Payment is (i) based upon the
total Capitalized Cost of the Equipment shown in paragraph 1 above and the Lease Factor stated above; (ii) is inclusive of the
Hawau general excise tax at the rate currently in effect, and (iii) is subject to adjustment if the actual Capitalized Cost of the
Equipment differs from the amount set forth in paragraph 1 above, it being understood that the figures stated in paragraph 1
are based on the best information available to the Lessor and the Lessee as of the date hereof.
The fast Total 1•Ionthly Rental Payment is due upon the Lessee's execution of this Equipment Lease Schedule:
subsequent payments shall be due on the asst day of each consecutive month beginning with the month following the
commencement of the Rental Term. fi rst
d. CARRYING CHARGES:
As an essential inducement to the Lessor to pay to the Equipment vendor(s) all or am• portion of the Capitali2ed Cost
of the Equipment prior to the Lessee's acceptance of the Equipment, the Lessee agrees to pay to the Lessor as a cam-ing
chazge ("Cam-ing Charge") an amount equal to N A °r per month on all sums advanced by the Lessor to such Equipment
vendor(s). The Carr}~ng Charge shall be computed from the date of each advance by the Lessor until the Equipment for
tcitich such advance was made is ac~lep2ed or used by the Le: see. Ltnless othern ise prorided herein, t})e Cam•ing Charge
shall be due and payable on the //AA day of each consecutive month, commencing on'V/H ,
19
OTHER CIL4RGES TO BE P4ID B 'LESSEE (Describe):
niform CotrQnercial Code (UCC-l~ Recording fee
6. DELIVERY OF EQLZP\fE\"I`
ter
The Lessor =_hall order the Equipment fur delixen' to the Lessee on or before
(the "Outside Deli~en• Date').
8 4.00
S o e e erminea
ril 22 .19 83
7. I\SPECTIO\ PERIOD:
The Lessee shall Kaye a period of Ong t 1 1 ;iacs after deliyen' and irs'.aliation to in=pec::F.-
Enuipment.
b. LOCATION OF EQLZP~IE\"I`.
_ P'usuant to paragraph 9lb) of the Comma..*cial Equipment Le:r`r, the Equipmen: shall be kept at
~.d mall not be removed therefrom ~rithout the written cunx•nt of ;hr Lessor.
9. SECURITY DEPOSIT: S 6,911.53
]0. C.~SL'ALTT LOSS ~:-',LUE OF EQL~P1fE\'I`.
The amount of the Ca=ualtc Loss Valor to br paid b}' the Lesser to the Les=or purKca.^.t to par~ph 1^:d) ~.t ;c:
C~,mmercial Equipment Lease for ant• Equipment lust, damaccd. confiscaird ur drstrnc'ed during the P.enta] Tern: i> --;
i:•nh in the CasuaJn' Loss Schedule which is at:~chrd hcn•nt :;nd inc„r}~~,rated herein b•: rrfrrencr.:uch amuurt :, :r c
de:erninrd according to tht• north in which the lu>~, d:uracr. cun5scati~,n or drtr~ctinn „ccurs.
. ,.r,
.rev. iv'~:I { , .~i .ry:
• 11. OTHER CONDITIONS: O
First Hawaiian Bank will assess a charge of $10.00. for each returned
check written against insufficient funds.
12. PURCHASE OPTION PRICE:
If the Lessee shall not be in default under any provisions of the Commercial Equipment Lease and the Lessee shall
have given the Lessor sixty (60) days' prior written notice of its intention to exercise the option granted herein, the Lessee
shall have the option to purchase all the Equipment, on an "as is"basis, for the amount specified in the Purchase Option Price
Schedule which is attached hereto and incorporated herein by reference, for the month in which the Equipment is purchased
by the Lessee, plus the amount of any applicable Hawaii general excise tax thereon. The purchase price for the Equipment
-shall be paid in cash or by a cashier's or certified check made payabl o the Lessor.
END OF RENTAL TER,II PURCHASE OPTION PRICE: ~~• 00 0 a%) of the actual Capitalized Cost of the
Equipment.
13. RETAIL Il~'ST.-+.LL\IE\"I' CONTR.~CT DISCLOSURES:
The following information is being furnished to the Lessee solely for the purpose of protecting the interest of the
Lessor if the transaction evidenced by the Commercial Equipment Lease and this Equipment Lease Schedule is for an}-
reason deemed to be a "retail installment sale" n~thin the meaning of Chapter 476 of the Hawaii Revised Statutes, as
amended, and not as admission that a "retail installment sale" was intended or contemplated by the parties.
(a) CaA,ShH PgRICpE' g 41 S , 240.00
Value of Trade-In Items
(Describe items, if any.
fL/ A 1:
~ -0-
TOTAL DO~iTN PAY3fENT. --_
(c) UNPAID BALANCE OF CASH PRICE [Item (a) less Item (b)1
(d) Charges for Insurance and other Benefits to Buyer.
(e) Official Fees, if any-. UCC-1 Recording Fee
(f) PRINCIP.~I. BALANCE [Sum of Items (c), (d) and (e)1:
(g) FINANCE CHARGEz
(Solely Interest): 10.0
(Equivalent of Annual Percentage Rate of % per annum)
(h) TIME BALANCE AND TIh1E SALE PRICE [Sum of Items (f) and (g)]:
$ 42,000.00
g 376,240.00
~ 0
$ 4.00
$ '
$ 121,390.16
~ 497,634.16
'The amount disclosed as the Cash Price does not include the End of Rental Tenn Purchase 0 tion Price disclosed in paragraph 12 above.
The Lessee is advised that ff this Lease is deemed to be a "retail installment contmmct" and it (the Lessee) exercises its nght under Chapter
-176 to pay off in advance the full amount due (see Notice to Bu}•er below), the amount oC the End of Rental Tenn Purchase Option Price
(discounted to present valve a[ the time oCthe pay off of the full amount due, based on the Lease Rate disclosed in aragraph 3 abovel «iil
be added to the Cash Price; the amount of the Cash Price sill therefore vary according to the date on which the full amount due is paid be
the Lessee.
The amount disclosed as the Finance Charge does not include the amount of ary Carrying Charges (test=ibed
in paragraph 4 above) to be paid by the Lessee-prior to the commencement of the Rental Tezm (as def ine~
in paragraph 2 above). The Lessee is advised that the Carrying Charges are based upon tvc unkno~m
vazi abl es-the particular item or items of Equipment for which advancPS are made by the Lessor to the 'Jendor
and the length of the period betz+een the dates on which such advances are made snd the Lessee's acceptance
or use of such item oz items of Equipment-and thus are impossible to determine in advance. The Lessee
is also advised that no Carrying Charges paid by the Lessee will be credited against the Cass ?nice oz
any other rental payments to be mode by the Lessee after the commencement of the Dental Tezm.
VOTE: (1) For amount of installments and pa}Tnent dates, see paragraph 3 above. (2) The Les.~or and the Lessee hereby acknowieace
and agree that (i) the figures disclosed above are based upon the best information available to the Lessor and [he Lessee as of [he case
hereof and (ii) that the figures disclosed above may be adjusted to reflect any changes in the actual purchase price, transporzation charges.
etc. for the Equipment.
This Equipment Lease Schedule shall be attached to and made a part of Commercial Equipment Lease No. 793
(hereinabove referred to as the "Commercial Equipment Lease"), executed by the parties on
19
Lti WIT\-ESS 1~`IIEREOF, the parties hereto hate executed this Equipment Lease Schedule on this~~ ~ dac
o{ JUN - , 19 ~_ .THE LESSEE HEREBY ACIt"\OWLEDGES RECEIPT OF
A IGtiED COPY OF THIS CO`-I'R_~CT.
\OT1CE TO THE BL1'ER
1. Do not sign this contract before you read it or if it contains any blank space.
Z. You are entitled to a completely filled in cop}' oC this contract when you sign it.
3. Under the lag-, you have the following rights among others:
(a) To pa}' off in advance the full amount due and to obtain a partial refund of the finance charge, if paid in
advance'
(b) finder certain conditions, to redeem the property' if repossessed for a default.
RET.aIL 1\STAI.LIIE\-I' CO\-'I'R.>,CT.
:IRST T3AWA AN B COI;::TY Oz' I•iAII
Bc v ~~ By
Its LESSOR Its X "ey,or
LECSEE
;,dcress: Box 3200
;:onolulu, 'rlat:aii
96847
Telenho~e: (808) 525-7000
.address: 25 Aupuni Street
t o, await o
Trlephune:
)•` //~~
~• Lniforl~!ommercial Codc - F1hANCl\C S ATE\1ETT
IAlPORTANT-Read instructions on back before filling out form
iecordation Requested by:
FIRST HAWAIIAN BANK
after recordation, return lo:
FIRST HAWAIIAN BANK
IO4•• UCC~•
Box B (For Filing Officer use only)
This FINANCING STATEMENT is presented for recordation pursuant to the Hawaii Uniform Commercial Code.
?~o. of Additional Sbeeu Presented: 1. Iltaturity Date, iI any (optional):
One (1)
2 OU t~~ (L.ast.~l~~elFirst) and Address: 2a. Additional Debtor(s) (Last name fiat) and Address(
25 AUPU~0uNIrF HSTREET
HI LO, HAWAII 96720
3. Secured Parrrryy and Address: 4. Assignee of Secured Party, if any, and Address:
FIRST HAIAIIAN BANK
~. This Financing Statement covers the following typo or items of property:
One (1) n1108 D Hughes 500D 5 Passenger Helicopter -See Attached Exhibit A.
NOTE: The Secured Party and the Debtor have entered into a lease dated
covering the property described herein. The lease creates a lessor-
lessee relationship between the Secured Party and the Debtor with
respect to the property described herein.
6. Check ~ if applicable:
a. ~ (If collateral is crops) The above dcscribcd vops arc groN-ing or arc to be grown on:
b. ~ (If collateral is goods which arc or are to become fixtures) The above dcscribcd goods in M•holc or
part arc affixed or to be affixed to:
Describe real estate: (If Land Court property, give lot, al~l~lication and certificate of title numbers)
Record OwTer:
or
~Rccord Lcsscc:
i7. Check Q if applicable: a. U Proceeds of collateral are also covered.
6.0 Products of collateral are .also covered.
This statement is filed ..ithout the debtor's signature to perfect a security interest in collateral (check appropriate box)
a.0whi[h is already subject to a security interest in another jurisdiction when it .. as brought into this state or
b.f~which is proceeds of the origins] collateral.dcscribed above in which a xcurity interest wzs pcrfeucd_
By
B.•
OF HA:JAII
I~• Signature(s) of Debtor(s)
'-~...a, ... .~..
=793 lm
IF;ST HAWAIIANI BAfJi: ~`
By - ~
SiFnsture of Secured Pam'
n EYHIBIT "A" O
FHB - EQUIPMENT LEASE
SCHEDULE OF VALUES
LESSEE: COUNTY OF HAWAII
LEASE N0: 793
CAP. COST y376,240.00
PMT. N0.
DUE DATE
BALANCE
O1 06/83 369328.47
02 07/83 365492.95
03 08/83 361625.48
04 09/83 357725.80
05 10/83 353793.64
06 11/83 349828.73
07 12/83 345830.80
08 01/84 341799.57
09 02/84 337734.77
10 03/84 333636.11
11 04/84 329503.32
12 05/84 325336.11
13 06/84 321134.19
14 07/84 316897.27
15 08/84 312625.06
16 09/84 308317.27
17 10/84 303973.60
18 11/84 299593.76
19 12/84 295177.44
PO 01/85 290724.34
21 02/85 286234.15
2P 03/85 281706.56
23 04/85 277141.26
24 05/85 272537.94
25 06/85 267896.28
26 07/85 263215.96
27 08/85 258496.66
P8 09/85 253738.06
29 10/85 248939.82
30 11/85 244101.62
31 12/85 239223.13
32 01/86 234304.00
33 02/86 229343.90
3q 03/86 224342.49
35 04/86 219299.43
36 05/86 214214.37
37 06/86 209086.96
38 07/86 203916.84
39 <Og/g6 198703.66
40 09/86 193447.06
41 10/86 188146.68
42 11/86 182802.16
43 12/86 177413.12
o ~ o
44 01/87 171979.20
45 02/87 166500.02
46 03/87 160975.21
47 p4/g7 155404.39
48 05/87 149787.17
49 06/87 144123.16
50 07/87 138411.98
51 08/87 132653.23
52 09/87 126846.52
53 10/87 121991.45
54 11/87 115087.61
55 12/87 109134.60
56 O1/88 103132.01
57 02/88 97079.43
58 03/gg 90976.44
59 04/88 84822.62
60 05/88 78617.55
61 06/88 72360.80
62 07/88 66051.94
63 08/88 59690.53
64 09/88 53276.14
65 10/88 46808.33
66 11/88 40286.65
67 12/88 33710.65
68 01/89 27079.88
69 02/89 20393.89
70 03/89 13652.21
71 04/89 6854.38
72 05/89 1.00
FIRST HAWAIIAN E3Ah1K
4CCEPTA.tiCE CERTIFICATE
C Poe 793
Equipmenl Lease Schedule No.
=IRST HAWAIIAN BANK
'. 0. Box 3200
ionolulu, Hawaii 96847
LESSEE: Name
Address
city -
COUNTY OF HAWAII
25 Aupuni Street
Hilo HI 96720
State Zip
Telephone No.
Quantity
Serial No. Equipment
(Manufacturer, ~'Fe. Model No., Description) Acquisition Coot
("Capitalized Cost" of EquipmenU
ug es assenger s 402 153.85
See Attached Helico ter
Exhibit A 4°b Tax 16 086.15
Less Lessee Downpayment 42 000.00
Total Capitalized Cost of Equipment a 376 240.00
This Acceptance Certificate pertains to al] or a portion of the Equipment covered by Master Lease Agreement
No. 793 ,dated 19 83 .The 1\iaster Lease Agreement and all Equipment Lease
Schedules attached thereto are hereinafter called the "Lease".
1. Acceptance of Equipment. The Lessee hereby certifies to the Lessor that (1) all of the Equipment described above and
in any Ex}tibit "A" attached hereto, have been delivered and installed and (2) that the Lessee has accepted the Equipment
as being satisfactory in all respects.
2. Special Acknowledgements. '
A The Lessee Acknowledges:
1. That the Lessee has selected the t}-pe and quantity of the Equipment; that theZessee has selected the
Equipment solely in-reliance on the manufacturer's and/or.dealers u•arrantiesand representations; that Lhe Lessor
has not made any representations to the Lessee concerning use, condition, operation, efficiency or safety of the
Equipment; and that the salesman or other agents of the manufacturer and/or dealer (hereafter referred to as the
"Vendor") are not the agents of the Lessor, and therefore, are not authorized to waive or alter any term, covenant or
condition of the Lease.
2. THAT THE LESSOR, NOT BEING THE MANUFACTURER OF THE EQUIPMENT NOR THE
MANUFACTURER'S AGENT, MAKES NO EMPRESS OR IMPLIED WARRANTY OF ANY KIND R'HAT-
SOEVER WITH RESPECT TO THE EQUIPMENT, INCLUDING BUT NOT LIMITED TO: THE MER-
CHANTABILITY OF THE EQUIPMENT OR ITS FITNESS FOR ANY PARTICULAR PURPOSE; THE
DESIGN OR THE CONDITION OF THE EQUIPMENT; THE R'ORKI~LSIQSHIP OF THE EQUIPMENT;
C01.1PLIANCE OF THE EQUIPMENT WITH THE REQUIREMENTS OF ANY LAW, RULE, SPECIFICA-
TION OR COATTRACT PERTAINING THERETO; OR ANY DEFECTS V1'HATSOEVER; IT BEING UA'DER-
STOOD THAT THE EQUIPMENT IS BEING LEASED TO THE LESSEE "AS IS".
B. The Lessee hereby agrees e•ith the Lessor.
1. That the Vendor's equipment warranties shall be in lieu of all others, expressed or implied, during the term
of the Lease, and that the Lessor shall not be liable to the Lessee for the loss of any profits, loss of working time, injure
to any person or property, loss of business or any other damages, direct or indirect, special, consequential or
othen~ise caused orresulting from the possession, use and loss of use of the equipment; that the Lessee shall make am
claim on account thereof solely against the Vendor; that the Lessor has agreed to assign solely for the purpose of
assisting the Lessee in the assertion ofhis claim, all of the Lessor s rights to any Vendor warranties on the Equipment;
that all claims or actions under any Vendor warranties shall be made by the Lessee, at its own expense; and that the
Lessor shall have no obligation to make any claim on any such warranty; pro~~ded, however, if to the extent an}-
breach of warranty results in damage or liability to the Lessor or the Lessor's interest in the Equipment, Lessor ma}•,
but shall not be under any obligation to, make or prosecute a claim or action in addition t,o or in lieu of an}• claim or
action by the Lessee.
2. That note~thstanding any claim which map be asserted by the Lessee against the Vendor, the Lessee shall
pay to the Lessor all rent payable under this Lease, the Lessee's obligation to pa}• all such rent being absolute and
unconditional.
3. Pa}'ment Authorization. The Lessee hereb}• authorizes the Lessor to pa}• for the Equipment in accordance
with the terms of any purchase orders for the same.
Cop, 1 t..~a.
Cop, I lr~
Cop, l F•
~i ~.. _
DATE: X June ~ lg 83
COUNTY OF HAWAII
(Xa o
B\' --rte
(~:r at ~-
lts~( ''`avor
O FIRST HAWAIIAN BANK O
RETAIL INST.~L.LhIENT CONTRACT
EQUIPMENT LEASE SCHEDULE NO. 793
I. DESCRIPTION OF EQUIPhfENT
Serial No.
Quantity Equipment
(Manufacturer, •1)pe, Model No.. Description) Acquisition Cost
("Capitalized Cost" oC EquipmenU
ug es assenger a 402 153.85
See Attached e icop er
Exhibit A 4m Tax 16,086.15 I
Less Lessee Down avrren 42 000.00
Total Capitalized Cost of Equipment: S 376 , 24D. DD
2. RE\TAL TER.II: 72 months
The Rental Term ("Rental Term") shall commence on the earlier of (a) date of expiration of the inspection period
specified in paragraph 7 below for all Equipment described above, or (b) the date on which the Lessee executes the
Acceptance Certificate for such Equipment, and shall continue for the period (number of months) specified above. it being
the intention of the parties that the stated Rental Term be the same far all items of Equipment described above.
3. Df01\"TIII.Y RENTAL PAYhfENT: g 6 ,911 .53
TOT.•1L MONTHLY RENTAL PAY:1fEri"f $ 6.911 .53
LE_•1SE FACTOR: 18.37 PER THOUS_~1ND DOLLARS OF CAPITALIZED COST OF EQUIPiE\"f
LEASE RATE: 10.00 0/o per annum
Upon the commencement of the Rental Term, the Lessee shall pay to the Lessor the Total hfonthly Rental Payment
specified above. The Lessee hereby acknowledges and agrees that the Total hfonthly Rental Paytnent is (i) based upon the
total Capitalized Cost of the Equipment shown in paragraph 1 above and the Lease Factor stated above; (ii) is inclusive of the
Hawaii general excise tax at the rate currently in effect, and (iii) is subject to adjustment if the actual Capitalized Cost of the
Equipment differs from the amount set forth in paragraph 1 above, it being understood that the figures stated in paragraph 1
are based on the best information available to the Lessor and the Lessee as of the date hereof.
The first Total Monthly Rental Payment is due upon the Lessee's execution of this Equipment Lease Schedule:
subsequent payments shall be due on the dot day of each consecutive month beginning with the month following the
commencement of the Rental Term. fi r5t
4. CARRYING CHARGES:
As an essential inducement to the Lessor to pay to the Equipment vendor(s) all or any portion of the Capitalu.ed Cost
of the Equipment prior to the Lessee's acceptance of the Equipment, the Lessee agrees to pay to the Lessor as a carr.-ing
charge ("Carving Charge") an amount equal to N A °c per month on all sums advanced by the Lessor to such Equipment
vendor(s). The Carrying Charge shall be computed from the date of each advance by the Lessor until the Equipment for
tchich such advancpe ryas made is ac~j pYed or used by the Le>see. Unless otherwise provided hereip, C}~e Carn•ing Charge
shall be due and a}•able on the / A day of each comecutive month, commencing on ''V/ H .
19 •
5. OTHER CHARGES TO BE PAID Bk LESSEE.(Dcscribe):
Uniform Corrmlercial Code (UCC-1 Re rdring Fee
6. DELI~"ERY OF EQUIP1fE\"IS
The Lessor shall order the Equipment fur delicen' to the Lessee on or before
tthe "Outside Delicen• Date").
7. I\SPECTIOX PERIOD:
The Lessee =hall have a period of
co
one
4.00
o e e ermine
Apri 1 22
19 83
( 1 ) cia~s after deliven~ and installation to ins pee: :.._
Euuipmen[.
e. LOCATION OF EQLZP~tE\•'I~
_ Pur<uant to paragraph 9(b) of the Comme.*cial Equipment Lr:L~r, the Ecaipme.^.: shall be ;;ept at
and s'nall not be removed therefrom without the written can>rnt of the Lessor.
9. SECL"RITY DEPOSIT: S 6,911.53
10. C.~1SL'ALTY LOSS YALUE OF EQLZP~IE\'7`.
The amount of the Casualty Loss ~'alur to be paid b~• the Lrs~er to the Lessor pur=t:a.^.t to par~oh 1^_tdi ~.,i :c_
Commercial Equipment Lease for am- Equipment lu>t. damaccd. confiscated ur drsro~ed during the Rental Terre. i~ <-:
": r.h in the Ca_~ualn~ Loss Schedule which is attachtd ht•rrto :;rid incot•h~~ra,ed herein bt reference, wch a.-n~~ur.t ::...,
d~ternined according to the month in which the lu=<, d:m:agr, cunflsruiun or drstructinn ut•curs.
t - '.
Il. OTHER CONDITIONS: O
O
first Hawaiian Bank will assess a charge of $10.00 for each returned
check written against insufficient funds,
12. PURCHASE OPTION PRICE:
If the Lessee shall not be in default under any provisions of the Commercial Equipment Lease and the Lessee shall
have given the Lessor sixty (60) days' prior written notice of its intention to exercise the option gran*_ed herein, the Lessee
shall have the option to purchase all the Equipment, on an "as is"basis, for the amount specified in the Purchase Option Price
Schedule which is attached hereto and incorporated herein by reference, for the month in which the Equipment is purcha.~d
by the Lessee, plus the amount of any applicable Hawaii general excise tax thereon. The purchase price for the Equipment
shall be paid in cash or by a cashier's or certified check made payabl o thie Lessor.
END OF RENTAL TERM PURCHASE OPTION PRICE: ~~• 00 pa 90) of the actual Capitalized Cost of the
Equipment.
13. RET_~IL INST~I,L~IENT CO\"I'R~CT DISCLOSURES:
The follou~ng information is being furnished to the Lessee solely for the purpose of protecting the interest of the
Lessor if the transaction e~zdenced by the Commercial Equipment Lease and this Equipment Lease Schedule is for ant
reason deemed to be a "retail installment sale" within the meaning of Chapter 476 of the Hawaii Re~lsed Statutes, a;
amended, and not as admission that a "retail installment sale" was intended or contemplated by the parties.
(a) CASH PRICEt g 418,240.00
ro) $ ~z~,$8o ~o yment:
Value of Trade-In Items
(Describe items, if any: '
(c)
(d)
(e)
(f)
(g)
(h)
N/ A ):
g -0-
TOTAL DOWN PAY11fENT: -
UNPAID BALANCE OF CASH PRICE [Item (a) less Item ro))
Charges for Insurance and other Benefits to Buyer.
Official Fees, if any: UCC-1 Recordi ng Fee
PRINCIPAL BALANCE (Sum of Items (c), (d) and (e)]:
___ $ 42,000.00
g 376,240.00
3 0
$ 4.00
$ '
FINANCE CHARGE2
(Solely Interest):
(Equivalent of Annual Percentage Rate of 10.0 ~o per annum)
TIME BALANCE AND TIME SALE PRICE [Sum of Items (f) and (g)l:
g 121,390.16
497,634.16
'The amount disclosed as the Cash Price does not include the End of Rental Term Purchase 0 Lion Price disclosed in paragraph 12 above.
The Lessee is advised that if this Lease is deemed to be a "retail installment contract" and it (the Lessee) exercises its nght under Chapter
i76 to pay off in advance the full amount due (see Notice to Buyer below), the amount of the End of Rental Tenn Purchase Option Price
(discounted to present value at the time of the pay off of the full amount due, based on the Lease Rate disclosed in aragraph 3 abovel «vl
be added to the Cash Price; the amount of the Cash Price will therefore vary according to the date on which the full amount due is paid b}-
the Lessee.
ZThe amount disclosed as the Finance Charge does not include the amount of ary Carrying Charges (described
in paragraph 4 above) to be paid by the Lessee-prior to the commencement of the Rental Tezm (as defined
in paragraph 2 above). The Lessee is advised that [he Carrying Chazges are based upon [•rc unknowr.
variables-the particular item or items of Equipment for which advances are made by the Lessor to the 'Jendor
and the length of the period between the dates on which such advances are made and the Lessee's accep [ante
or use of such item or items of Equipment-and thus are impossible to determine in advance. The Lessee
is also advised that no Carrying Charges paid by the Lessee will be credited against the Cast trice or
any othez rental payments to be made by the Lessee after the commencement of ^_he Rental Term.
NOTE: (1) For amount of installments and pa}Tnent dates, see paragraph 3 above. (2) The Les_cor and the Lessee hereby acknowledce
and agree that (i) the fi es disclosed above are based upon the best information available to the Lessor and the Lessee as of the dare
hereof and (ii) that the f g~ures disclosed above may be adjusted to reflect any changes in the actual purchase price, transportation chargea,
etc. for the Equipment.
This Equipment Lease Schedule shall be attached to and made a part of Commercial Equipment Lease No. 79 3
(hereinabove referred to as the "Commercial Equipment Lease"), executed by the parties on ,
19
Lti ~i'ITNESS R'HEREOF, the parties hereto have executed this Equipment Lease Schedule on this~~ clot
of JUN - , 19 B,~ .THE LESSEE HEREBY ACh'\OWLEDGES RECEIPT OF
A IGNED COPY OF THIS CO\"TRaCT. .
NOTICE TO THE BL1"ER
adcance•
(b) Under certain conditions, to redeem the property if repossessed for a default.
I. Do not sign this contract before you read it or if it contains any blank space.
2. 1'ou are entitled to a completely filled in copy of this contract when you sign it.
3. Under the law, you have the following rights among others:
(a) To pay off in advance the full amount due and to obtain a partial refund of the finance charge, if paid in
RETAIL INSTALL~IE\~I' CO\TR~CT
FIRST HAWA AN B COL:~TY O YiAII
By v ~~ By
Its LESSOR Its X ''"'Yor
LESSEE
~,ccress: Box 3200
iionolulu, HatJaii
96^047
Telenho~e: (908) 525-7000
Address: 25 Aupuni Street
~ o, await o
Trlcphone:
Uniform~mmucial Codc - FI1\ANCING ST.~.A1E\T
IAIPORTAl\T-Read instructions on back before filling out form
Recordation Requested by:
FIRST HAIAIIAN BANK
After recordation, return to:
FIRST HAWAIIAN BANK
I04.. UCC•1
Box B (For Filing Ofncer use only)
This FINANC11v'G STATEMEA'T is presented for recordation pursuant to the Hawaii Uniform Commercial Code.
No. of Additional Sheets Presented: 11. Alatttrity Date, $ any (optional):
One (1)
2. COUN~~' 'OF 1ri~l~s~rTFirst) and Address: 2a. Additional Debtor(a) (Last name first) and Addrrss(e
25 AUPUNI STREET
HI LO, HAWAII 96720
3. Secured Parrttyy and Address:
FIRST HAIdAIIAPJ BANK
4. Assignee of Secured Party, if any, and Address:
~. This Financing Statement covers the following types or items of property:
One (1) X1108 D Hughes 500D 5 Passenger Helicopter -See Attached Exhibit A.
NOTE: The Secured Party and the Debtor have entered into a lease dated
covering the property described herein. The lease creates a lessor-
lessee relationship between the Secured Party and the Debtor with
respect to the property described herein.
6. Check QQ if applicable:
a.~ (If collateral is crops) The above described vops are growing or arc to be grown on:
b. ~ (If collateral is goods which are or are to become fixtures) The above described goods in whole or
part arc affixed or to be e$txed to:
Describe real estate: (If Land Court property, give lot, al~lilication and certificate of title numbers)
Record Ovzter:
or
Record Lessee:
7. Check Q if applicable: a. Q Proceeds of collateral arc also covered.
b.~ Products of collateral are .also covered.
8. This statcmrnt is filed without the debtor's signature to 1~erfect a Security interest in col]atera] (check zpproprizte box):
a.Qwhieh is already subject to a security interest in another jurisdiction whin it .vas brought into this stzte or
b. Q ..hieh is proceeds of the original eollateral described above in whic}t a security interest was perfected.
COL"QTY OF HAIIAII
IBv
ITS: "~vcr
~ 8}'
1~; Signature(s) of Debtor(s)
<<..e, ... ~..
=793 lm
~, _~. _-
IRST HAWAIIA:J BAi71:
By `1
• Signature of Secured Pam'
HERBERT T. MATAYOSHI
Mayor
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COUNTY OF HAWAII
DEPARTMENT OF FINANCE
25 Aupu ni Street
Hilo, Hawaii 96720
June 2, 1983
STANLEY A. NAKAMAE
Director of Finance
The Honorable Stephen K. Yamashiro, Chairman
and Members of the Council
County of Hawaii
Hilo, Hawaii 96720
Enclosed for appropriate action is a resolution requiring
approval of Lease Agreement No. 793 for the time purchase
of the county helicopter, approved in principle by
Resolution No. 507-82 dated December 1, 1982.
In the opinion of Corporation Counsel, the Council should
also approve the actual contract documents. Since the
helicopter has been delivered and the vendor is anxiously
awaiting payment, we would appreciate very much placing
this resolution on the agenda for June 8, 1983.
Q
STANL NAKAMAE
Director of Finance
2w, 6~F3
cc: Fire Department~_.~---------""""-
i: `:
APPROVED:
0'
~~