Loading...
HomeMy WebLinkAbout5484AGENDA BILL CITY OF8REMERTON CITY COUNCIL SUBJECT: Municipal Master Lease Study Session Date: Agreement with Yamaha Motor Coronration, COUNCIL MEETING Date: U.S.A. for Golf, Beverage, and Utility Carts Department:Parks & Recreation for use at Gold Mountain Golf Course Presenter: February 13 2018 February 20,2019 Jeff Elevado Phone: 5428 SUMMARY: The current lease agreement for the Gold Mountain Golf Course fleet of golf, beverage and utility carts expires onMay 31.2019. The Golf Management team from Columbia Hospitality has solicited and received proposals from three golf cart vendors. Staff recommendation ietoenter into a 48 month lease with Yamaha Motor Corporation, U.S.A. for 2019 model year vehicles as follows: 12Otwo-passenger fleet carts 4 four -passenger marshal carts 3 beveragecoUo w 1 utility cart Lease Amounts: $8.045monthly; $1O3.74Oannually and $414.9OOthrough the 48months. The cost ofthe 4year lease iorecouped through cart rental revenue. Gross cart rental revenue in 2018was $520.500. The new fleet ofcarts will provide additional revenue potential thorough increased cart rentals and green fees while reducing fuel and maintenance costs. ATTACHMENTS: 1) Cart Lease Proposal Summary Worksheet 2) Master Lease Agreement FISCAL IMPACTS (Include Budgeted Anoounb: Cart lease expenses are budgeted inthe Golf Operation and Maintenance fund. STUDY SESSION AGENDA: OQ Limited Presentation [] Full Presentation STUDY SESSION ACTION: 0 Consent Agenda El General Business El Public Hearing RECOMMENDED MOTION: Wove to approve Lease Agreement between Yamaha Motor Corporation, U.S.A. and the City for golf carts; and authorize the Mayor to finalize and execute the agreement with substantially the same terms and conditions ospresented. COUNCIL ACTION: 4 Approve Form Updated 01/02/2018 n Deny El Table El Continue El No Action Contract Number: 5484 Vendor: YAMAHA MOTOR CORPORATION Subject: Municipal Master Lease Agreement Department: Parks File Class: LEG 12-1 Begin Date: 5/27/2015 End Date: 5/30/2019 Review Date: 1/1/2019 Vault Date: 2020 Comments: AGENDA BILL CITY OF BREMERTON CITY COUNCIL SUBJECT: Golf Cart Lease Agreement with Yamaha Motor. Corporation, U.S.A. for Gold Mountain Golf Course - Study Session Date: COUNCIL MEETING Date: Department: Presenter: Phone: March 25, 2015 April 1, 2015 Parks & Recreation Jeff Elevado (360) 473-5428 SUMMARY: Parks and Recreation staff with assistance from Columbia Hospitality's Golf staff requested proposals from four golf cart fleet vendors. The staff recommendation is to enter into a 48 month lease with Yamaha Motor Corporation, U.S.A. for 2015 model year golf carts as follows: 120 two -person fleet carts, 3 beverage carts and 4 four -passenger carts for a monthly amount of $7,550.00. Total annual lease amount: $90,597.00. Total Lease Cost through 48 months: $565,835.00. The Yamaha cart fleet proposal represents and annual estimated savings of $19,500 over the existing golf cart agreement owning to lease price, estimated maintenance costs and fuel efficiency. The cost over the 4 year lease is recouped by rental revenue collected from Gold Mountain golfers. In 2014 gross cart rental revenue was $440,701. The Yamaha cart lease proposal significantly reduces the age of Gold Mountain's golf cart fleet and has the potential to increase cart rental as well as green fee revenue. ATTACHMENTS: 1) Cart Lease Proposal Worksheet; 2) Master Lease Agreement FISCAL IMPACTS (Include Budgeted Amount): Cart lease expense is budgeted in the Golf Fund. STUDY SESSION AGENDA: ❑ No Presentation 0 Full Presentation STUDY SESSION ACTION: ❑ Consent Agenda 0 General Business ❑ Public Hearing RECOMMENDED MOTION: 1) Move to approve Lease Agreement between Yamaha Motor Corporation and the City for golf carts and authorize the Mayor to finalize and execute the agreement with substantially the same terms and conditions as presented, and further, 2) Authorize the Mayor, or designee, to extend the cart pad lease with Alexander Cart Rentals, Inc. until December 31, 2015, at no additional charge in consideration of Alexander Cart Rentals Inc.'s agreement to termination of the golf cart rental agreement with Columbia Hospitality. COUNCIL ACTION: [Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action Form Updated 01/07/15 :1 E ;a ,A f YA.HA Commercial Customer Finance MUNICIPAL MASTER LEASE AGREEMENT MODIFIED Page 1 of 4 MLSE 0906 *YAMAHA I MODIFIED YAMAHA MOTOR CORPORATION, U.S.A. MASTER LEASE AGREEMENT dated May 27, 2015 , between YAMAHA MOTOR CORPORATION, U.S.A., having its principal place of business at 6555 Katella Avenue, Cypress, California 90630 ("Lessor"), and CITY OF BREMERTON having its principal office at 345 6r Street Suite 600. Bremerton, WA 98337 ("Lessee'. Lessor and Lessee hereby agree as follows: 1. Lease of Equipment. Lessor leases to Lessee the equipment described on each attached Equipment Schedule (the "Equipment°), on the terms and conditions of this Lease, the applicable Equipment Schedule, and each rider attached hereto. 2. Term. The term of this lease for the Equipment described on a particular Equipment Schedule shall commence on the date set forth on such Equipment Schedule and shall continue for the number of months indicated on such Equipment Schedule except that, the City may terminate this agreement for convenience any time after the first year of the lease upon one hundred twenty (120) days prior written notice to Lessor. 3. Eed Lessee shall pay Lessor rent for the Equipment ("ELUn in the amounts and at the times set forth on the applicable Equipment Schedule. The amount of the Rent has been determined by amortizing the purchase price of the applicable Equipment (using the prices quoted in the Request for Proposal identified on the applicable Equipment Schedule ("RFP', together with an interest factor at the rate specified in the applicable Equipment Schedule. Whenever any payment hereunder is not made when due, Lessee shall pay interest on such amount from the due date thereof to the date of such payment at the lower of Lessor's then prevailing rate for late payments specified in Lessor's invoice to Lessee for such payment or the maximum allowable rate of interest permitted by the law of the state where the Equipment is located. 4. Selection. Delivery. and Acceptance. Lessee shall select the Equipment and take delivery thereof directly from Lessor or an authorized third party (the "Dealer"). Dealer shall deliver the Equipment to Lessee's location at which the equipment Is to be used hereunder at Dealers cost, as applicable. . Lessor shall not be liable for any loss or damage resulting from the delay or failure to have any Equipment available for delivery. Lessee shall inspect the Equipment to determine that the Equipment is as ordered and has been equipped and prepared in accordance with the RFP and any prior instructions given in writing by Lessee to Lessor or Dealer. Lessee shall accept the Equipment If it meets the criteria set forth in the preceding sentence and shall execute and deliver to Lessor or Dealer a Certificate of Acceptance, in form and substance satisfactory to Lessor, within 7 days of the delivery of the Equipment or the Equipment will be deemed accepted by the Lessee. For all purposes of this Lease, acceptance is conclusively established by Lessee's execution and delivery of a Certificate of Acceptance provided by Lessor. Lessee authorizes Lessor to insert in each Equipment Schedule the serial numbers and other identifying date of the Equipment. 5. Location. and Inspection. Lessee shall not move the Equipment from the locations specified in the applicable Equipment Schedule without Lessor's prior written consent. Lessor and its representatives shall have the right from time to time during business hours to enter upon the premises where the Equipment is located to inspect the Equipment and Lessee's records to confirm Lessee's compliance with this Lease. 6. Care. Use. and Maintenance. Lessee shall, at its expense, at all times during the term of this Lease, keep the Equipment clean, serviced, and maintained in good operating order, repair, condition, and appearance in accordance with Lessor's manuals and other instructions received from Lessor. Lessee will not use or operate the Equipment, or permit the Equipment to be used or operated, in violation of any law, ordinance or governmental regulations. The Equipment will be used and operated only as golf cars. Lessee shall safely store the Equipment when not in use and properly secure it at night and such other times when the golf course on which the Equipment is used is closed to play, and Lessee shall be solely responsible for such storage and safekeeping. If the Equipment is electrical, Lessee shall provide sufficient and adequate electrical charging outlets and water facilities for the batteries which are a part of the Equipment. 7. Insurance. Effective upon delivery of the Equipment to Lessee and until the Equipment is returned to Lessor as provided herein, Lessee relieves Lessor of responsibility for all risk of physical damage to or loss or destruction of all the Equipment, howsoever caused. During the continuance of this Master Lease, Lessee shall at its own expense, cause to be carried and maintained with respect to each item of Equipment designated in each Equipment Schedule public liability insurance in an amount of not less then $1,000,000, and casualty insurance, in each case in amounts and against risk customarily insured against Lessee in similar equipment and, in amounts and against risk acceptable to Lessor. All policies with respect to such insurance shall name Lessor as additional insured and as loss payee, and shall provide for at least (10) days prior written notice by the underwriter or insurance company to Lessor in the event of cancellation or expiration of any such policies in the same manner as provided to Lessee under the policy. Lessee shall, upon request of Lessor, fumish appropriate evidence of such insurance to Lessor. Lessee shall bear the entire risk of loss, theft, destruction or damage to the Equipment from any cause whatsoever and shall not be relieved of the obligation to pay the total of the monthly payments or any other obligation hereunder because of any such occurrence. In the event of damage to any item of Equipment leased hereunder, Lessee, at its sole expense, shall immediately place the same in good repair and operating condition. In no event shall Lessor be liable for any loss of profit, damage, loss, defect or failure of any item of Equipment or the time which may be required to recover, repair, service, or replace the item of Equipment. 8. Storage. Lessee shall store the Equipment in such a manner as to prevent theft or damage from weather and vandalism 9. Tjtle. Title to the Equipment shall at all times remain with the Lessor. Lessee acquires only the interests of Lessee expressly described in this Lease, the applicable Equipment Schedule, and the riders attached hereto. Lessee shall not remove, move, or cover over in any manner any serial number on the Equipment. Lessee shall keep all Equipment free from any marking or labeling which might be interpreted as a claim of ownership thereof by Lessee or any party other than Lessor or anyone so claiming through Lessor. Lessor is hereby authorized by Lessee, at Lessor's expense, to cause this Master Lease, any Equipment Schedule or any statement or other instrument in respect of any Equipment Schedule as may be required by law showing the interest of Lessor in the Equipment to be filed and Lessee hereby authorizes Lessor or its agent to sign and execute on its behalf any and all necessary UCC -1 forms for such purpose. Lessor and Lessee hereby intend this transaction to be a lease. In the event that for any reason it is not deemed a lease, the Lessee hereby grants Lessor a security interest in leased property. Page 2 of 4 MLSE 0906 10. Warranties. The Equipment is warranted only in accordance with the manufacturer's warranty. EXCEPT AS EXPRESSLY PROVIDED IN THE MANUFACTURER'S WARRANTY, LESSOR DISCLAIMS ANY OTHER WARRANTY, EXPRESSED OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INTERFERENCE. 11. Alterations and Attachments. Lessee may, with Lessor's prior written consent, make such cosmetic modifications to the Equipment as Lessee may deem desirable in the conduct of its business; provided, however, that such alterations shall not diminish the value or utility of the Equipment, or cause the loss of any warranty thereon or any certiflcation necessary for the maintenance thereof; and provided, further, that such modification shall be removable without causing damage to the Equipment. Upon return of the Equipment to Lessor, Lessee shall, if Lessor so elects, remove such modifications which have been made and shall restore the Equipment to its original condition, normal wear and tear and depreciation excepted. 12. Taxes. Lessee shall cooperate with Lessor in all reasonable respects necessary in order for Lessor to qualify for any exemption or exclusion from personal property tax on the equipment or sales or use tax on the leasing of the Equipment to Lessee hereunder. In the event that any such tax becomes payable by Lessor during the term of this Lease, Lessee shall pay to Lessor as additional rent, promptly on receipt of Lessor's invoice therefor, an amount equal to such tax. Lessee shall collect and remit any and all sales, use, and other taxes payable in any state, county, or city in respect of the rental or other use of the Equipment by Lessee. 13. Indemnity-, Notice of Claim. Lessee shall be liable for, and hereby Indemnifies Lessor and holds Lessor harmless from and against, any and all claims, costs, expenses, damages, losses, and liabilities (including, with limitation, attorneys' fees and disbursements) arising in any way from the gross negligence or misconduct of Lessee or Lessee's ,agents and independent contractors, or their respective employees. Lessee shall give Lessor prompt written notice of any claim arising out of the possession, leasing, renting, operation, control, use, storage, or disposition of the Equipment and shall cooperate In all reasonable respects at Lessee's expense in investigating, defending, and resolving such claim. 14. Return of Equipment. Upon the termination of an Equipment Schedule for any reason, unless Lessee is thereupon purchasing the Equipment from Lessor, Lessee shall make the Equipment available for inspection and pick up by Lessor or Dealer at Lessee's location at which the Equipment was used hereunder. The Equipment shall be returned to Lessor at the termination of this Lease in the same operating order, repair, condition, and appearance as when received by Lessee, less normal depreciation and wear and tear (which shall not include damaged or missing tires or wheels). 15. Defaults, Lessee's Defaults. The occurrence of any one or more of the following events shall constitute an "Event of Default" under this Lease: (a) default by Lessee in the payment of any installment of rent or other charge payable by Lessee under any Equipment Schedule as and when the same becomes due and payable; or (b) default by Lessee in the performance of any other material term, covenant or condition of this Lease, any for a period of 10 days after notice; or (c) A petition under the Bankruptcy Code or under any other insolvency law providing for the relief of debtors shall be filed by or against Lessee; or (d) The voluntary or involuntary making of any assignment of a substantial portion of Its assets by Lessee for the benefit of creditors shall occur; a receiver or trustee for Lessee or for Lessee's assets shall be appointed; any format or informal proceeding for dissolution, liquidation, settlement of claims against or winding up of the affairs of Lessee shall be commenced; or (e) Lessee shall default under any other lease or agreement between Lessee and Lessor or any of its assignees hereunder, or (1) Lessee shall suffer a material adverse change in its financial condition from the date hereof, and as a result thereof Lessor deems itself or any of the Equipment to be insecure. Lessor's Default If Lessee alleges a breach of this Agreement by Lessor, Lessee shall provide written notice to Lessor Identifying the breach. Lessor shall respond In writing within fifteen (15) days of receipt of the notice. If the parties are unable to resolve the alleged breach, Lessee may seek any remedy available at law. The venue of any legal action related to this Agreement shall be Kltsap County Superior Court If any action is filed in court, each party shall be responsible for Its own legal costs and attorney fees incurred In defending or prosecuting a claim or lawsuit related to this Agreement. 16. Remedies. Upon the occurrence of an Event of Default, Lessor, at its option, may pursue any one or more of the following remedies, in such order or manner as Lessor determines, each such remedy being cumulative and not exclusive of any other remedy provided herein or under applicable law: (a) terminate all or any portion of the Equipment Schedules to this Lease; (b) with or without terminating this Lease, take possession of the Equipment, with or without judicial process, Lessee hereby granting Lessor the right and license to enter upon Lessee's premises where the Equipment is located for such purpose; (c) proceed by appropriate court action, either at law or In equity, to enforce performance by Lessee of the applicable covenants and terms of this Lease, or to recover from Lessee any and all damages or expenses, including reasonable attorneys' fees, which Lessor shall have sustained by reason of Lessee's default in any covenant or covenants of this Lease, or on account of Lessor's enforcement of its remedies thereunder; without limiting any other damages to which Lessor may be entitled, Lessor shall be entitled upon an Event of Default to damages in an amount equal to all Rent then due but unpaid, plus the aggregate amount of Rent thereafter coming due for the remaining term of this Lease, plus Lessor's costs and expenses of pursuing its remedies hereunder (including, without limitation, attorneys' fees), minus all amounts received by Lessor after using reasonable efforts to sell or re -tease the Equipment after repossession or from any guaranty by the Dealer or any third -party; and (d) sell the Equipment or enter into a new lease of the Equipment. No delay by Lessor in pursuing any remedy shall be treated as a waiver of or limitation on such remedy or any other remedy. 17. Assignment. Neither Lessee nor Lessor shall transfer, assign, or sublease (except for rentals to players as contemplated hereunder in the ordinary course of business), or create, incur, assume, or permit to exist any security interest, lien, or other encumbrance on, the Equipment, this Lease, or any interest of Lessee therein. Page 3 of 4 MLSE 0906 18. Lessee's Representations and Warranties. Lessee represents and warrants to Lessor that: (a) Lessee has the authority under applicable law to enter into and perform this Lease and each Equipment Schedule and rider hereto; (b) Lessee has taken all necessary action to authorize its execution, delivery, and performance of this Lease and each Equipment Schedule and rider hereto; (c) the Lease and each Equipment Schedule and rider hereto have been duly executed and delivered by an authorized signatory of Lessee and constitute Lessee's legal, valid, and binding obligations, enforceable in accordance with their terms; (d) adequate funds have been budgeted and appropriated to enable Lessee to make all payments required under each Equipment Schedule to this Lease during the first twelve months of the term hereof; and (e) interest paid on indebtedness of Lessee held by Lessor would be excluded from Lessor's income for U.S. federal income tax purposes. 19. Non -Appropriation of Funds. Notwithstanding anything contained in this Lease to the contrary, in the event no funds or insufficient funds are budgeted and appropriated or are otherwise unavailable by any means whatsoever for Rent due under the Lease with respect to a Equipment Schedule in any fiscal period after the period in which the term of the lease with respect to such Equipment Schedule commences, Lessee will immediately notify Lessor in writing of such occurrence and the Lessee's obligations under the Lease shall terminate on the last day of the fiscal period for which appropriations have been received or made without penalty or expense to Lessee, except as to (i) the portions of Rent for which funds shall have been budgeted and appropriated or are otherwise available and (tt) Lessee's other obligations and liabilities under the Lease relating to the period, or accruing or arising, prior to such termination. In the event of such termination. Lessee agrees to peaceably surrender possession of the Equipment to Lessor on the date of such termination in the manner set forth in the Lease and Lessor will have all legal and equitable rights and remedies to take possession of the Equipment. Notwithstanding the foregoing, Lessee agrees (1) that it will not cancel the Lease and the Lease shall not terminate under the provisions of this section if any funds are appropriated to it, or by it, for the acquisition, retention or operation of the Equipment or other equipment or services performing functions similar to the functions of the Equipment for the fiscal period In which such termination would have otherwise occurred or for the next succeeding fiscal period, and (ii) that it will not during the Lease term give priority in the application of funds to any other functionally similar equipment or to services performing functions similar to the functions of the Equipment. This section is not intended to permit Lessee to terminate the Lease in order to purchase, lease, rent or otherwise acquire the use of any other equipment or services performing functions similar to the functions of the Equipment, and if the Lease terminates pursuant to this section, Lessee agrees that prior to the end of the fiscal period immediately following the fiscal period in which such termination occurs, it will not so purchase, lease, rent or otherwise acquire the use of any such other equipment or services. 20. Bindina Effect: Successors and Assigns. This lease and each Equipment Schedule and rider hereto shall be binding upon and shall inure to the benefit of Lessor and Lessee and their respective successors and permitted assigns. All agreements and representations of Lessee contained in this Lease or in any document delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Lease and the expiration or other termination of this Lease. 21. Notices. Any notice, request or other communication to either party by the other shall be given in writing and shall be deemed received only upon the earlier of receipt or three days after mailing if mailed postage prepaid by regular mail to Lessor or Lessee, as the case may be, at the address for such party set forth in this agreement or at such changed address as may be subsequently submitted by written notice of either party. 22. Governing Law. This Lease and each Equipment Schedule and rider hereto shall be governed by and construed in accordance with the laws of the State where Lessee's principal administrative offices are located without giving effect to the conflicts of laws principles of such state. 23. Severability. In the event any one or more of the provisions of this Lease or any Equipment Schedule or rider hereto shall for any reason be prohibited or unenforceable in any jurisdiction, any such provision shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision In any other jurisdiction. 24. Sinned Counterparts. The parties agree that this Lease may be signed in counterparts, that delivery of an executed counterpart of the signature page to this Lease by fax, email or other electronic means shall be as effective as delivery of a manually executed counterpart, and any failure to deliver the original manually executed counterpart sent by fax, email or other electronic means shall not affect the validity, enforceability or binding effect of this Lease. Notwithstanding any other provision of this Lease, the sole original of this Lease shall be the Lease bearing the stamped or manually executed signature of the Lessor. The Lessee, by making any payment required under this Lease ratifies all of the terms of this Lease/Agreement. 25. Article 2A. To the fullest extent permitted by applicable law, Lessee waives any and all rights and remedies conferred by Sections 2A- 508 through 2A-522 of Article 2A of the Uniform Commercial Code in effect in the state designated in Section 26 below, except to the extent that such right or remedy is expressly granted to Lessee herein. 26. Status of Limitations. Any action by Lessee against Lessor or Dealer for any breach or default under this Lease must be commenced within one year after the cause of action accrues. 27. Entire Agreement This Lease and all Equipment Schedules and riders hereto constitute the entire agreement between Lessor and Lessee with respect to the subject matter hereof, and there are no agreements, representations, warranties, or understandings with respect to such subject matter except as expressly set forth herein and therein. No alternation or modification of this Lease or any Equipment Schedule or rider hereto shall be effective unless it is in writing and signed by Lessor and Lessee. IN WITNESS WHEREOF, Lessor and Lessee have caused this Lease to be executed on the date first above written. CITY OF B MERTON as ssee / nt Name: Title: 06/0 YAMAHA MOTOR CORPORATION. U.S.A. as Lessor By: Print Name: KIM RUIZ Title: VICE PRESIDENT Page 4 of 4 MLSE 0906 EXHIBIT A EQUIPMENT SCHEDULE # 112224 Dated 05/27/2015 1. This Schedule covers the following property ("Equipment"): 120 YDRAEFI GOLF CARS 2. Location of Equipment: GOLD MOUNTAIN GOLF CLUB 7263 W. BELFAIR VALLEY RD BREMERTON, WA 98312 3. The Lease term for the Equipment described herein shall commence on June 15.2015 and shall consist of 48 months from the first day of the month following said date. 4. 6. Rental payments on the Equipment shall be in the following amounts, payable on the following schedule: 48 MONTHLY PAYMENTS IN THE AMOUNT OF $5,977.47 (APPLICABLE TAXES TO BE BILLED). STARTING JUNE 2015 AND ENDING MAY 2019. DUE THE 15TH DAY OF THE MONTH AS FOLLOWS: Jun -15 $5,977.47 Jan -16 $5,977.47 Jan -17 $5,977.47 Jul -15 $5,977.47 Feb -16 $5,977.47 Feb -17 $5,977.47 Aug -15 $5,977.47 Mar -16 $5,977.47 Mar -17 $5,977.47 Sep -15 $5,977.47 Apr -I6 $5,977.47 Apr -17 $5,977.47 Oct -15 $5,977.47 May -I6 $5,977.47 May -17 $5,977.47 Nov -15 $5,977.47 Jun -16 $5,977.47 Jun -17 $5,977.47 Dec -15 $5,977.47 Jul -16 $5,977.47 Jul -17 $5,977.47 Aug -16 $5,977.47 Aug -17 $5,977.47 Sep -16 $5,977.47 Sep -17 $5,977.47 Oct -16 $5,977.47 Oct -17 $5,977.47 Nov -16 $5,977.47 Nov -17 $5,977.47 Dec -16 $5,977.47 Dec -17 $5,977.47 Interest Factor: 3.400 % Other Terms: Jan -18 $5,977.47 Jan -19 $5,977.47 Feb -18 $5,977.47 Feb -19 $5,977.47 Mar -18 $5,977.47 Mar -19 $5,977.47 Apr -18 $5,977.47 Apr -19 $5,977.47 May -18 $5,977.47 May -19 $5,977.47 lun-18 $5,977.47 Jul -18 $5,977.47 Aug -18 $5,977.47 Sep -18 $5,977.47 Oct -18 $5,977.47 Nov -18 $5,977.47 Dec -18 $5,977.47 Lessee agrees to reimburse Lessor, who shall pay any assessed property taxes due on the equipment leased pursuant to Section 12 of the Master Lease Agreement. Yamaha is not obligated to perform or provide any service, under any circumstances under the terms of the lease agreement. Service is the responsibility of the Lessee. Failure by Lessee to maintain or service the equipment consistent with the terms of the Master Lease Agreement shall not relieve Lessee of the responsibilities under the Master Lease Agreement. Signed Counterparts: The parties agree that this Lease may be signed in counterparts, that delivery of an executed counterpart of the signature page to this Lease by fax, email or other electronic means shall be as effective as delivery of a manually executed counterpart, and any failure to deliver the original manually executed counterpart sent by fax, email or other electronic means shall not affect the validity, enforceability or binding effect of this Lease. Notwithstanding any other provision of this Lease, the sole original of this Lease shall be the Lease bearing the manually executed signature of the Lessor. The Lessee, by making any payment required under this Lease ratifies all of the terms of this Lease/Agreement. This Equipment Schedule is issued pursuant to the Master Lease dated, May 27, 2015 (the "Lease"). All of the terms and conditions, representations and warranties of the Lease are hereby incorporated herein and made a part hereof as if they were expressly set forth in this Equipment Schedule and this Equipment Schedule constitutes a separate lease with respect to the Equipment described herein. LESSEE: CITY OF BREMERTON 14 Dy: 4'S, azure \Aame: Q �/ ype or`Print "tTitle- 4�\r, WS LESSOR: YAMAHA MOTOR CORPORATION, U.S.A. - By: Name: Kim Ruiz _ Title- Vice President EXMff A EQUIPMDn SCHEDULE # 112224 Dated 115R7/ IS 1. This Schedule covers the following property CBquTm0nf): 120 YDRAEFI GOLF CARS 2. Location of Equipment: GOLD MOUNTAIN GOLF CLUB 7263 W. BELFAIR VALLEY BD BREMERTON. WA 99312 3. The Loan term for ft Egaipmed described herein shall commence on June 15, 2015 and shall consist of 4B months from the fast day of the mandl following said date. 4_ Rental payments on the Equipment shall be in the following amounts, payable on die following schedule: 49 MONTHLY PAYMENTS IN THE AMOUNT OF S5 "A7 (APPLICABLE TAXES TO BE BILLED)6 STARTING JUNE 2015 AND ENDING MAY 2019. DUE THE 15TH DAY OF THE MONTH AS FOLLOWS: 3u -15 #5„977.7 MR -16 95,977A7 7arn17;6,977.47 3aa-19 95,977.47 IW19 55,977.47 h1.15;5,977.7 Feb -16 $5,977.7 Fea17 95„977.7 Fab -115$5,9".47 reb-19 95,977.7 hWIS 95,977.47 Mar -16 956977A7 Nar17 $5,977.47 Marta 55,977.47 Mar19:W.47 Od-15 95,977.47 Msy- 6 $5,971A7 Maw17 $%9"9.7 May -18 $5,971A7 Mar -19 95,977A7 Nw-15 95,97747 ]w16 95,977.7 ]W-17 95,977.47 )in -16 $5,971.7 Deo -15 95,977.47 L9-16 9;,97!.7 3ul-17 95,977.7 Ad -18 95,977.7 AW16 4977.47 AW17 95,977 7 AuIP111 95,977.7 Sw16 95.977.7 SW -17$%97747 SW18 9SWA7 Oct -16 $%977A7 0*17 95,97147 Oct 18 $5,977 47 Na*16 95,97747 14ow17 95,977.47 Nor -18 95,977.7 OK 16 95,471.7 Dec -17 $5,977 47 Dec -16$5,M.47 5. biter" Factor. 3A06 % 6. Odw Terms: Lesson agrees to reimburse Lessor, wbo shall pay any assessed property taxes due on the tquipmertt leased pu suW to Sec tim 12 of the Master Lease Agrument. Yamaha is not obligated to pe fam or provide any service, under any ci cumstwes tinder the tern" of the lease agreement. Service is the responsibility of the Losses. Failure by Lesttee io maintain or service the equipment consistent with aha tams of the Master Lem Agreement shall not relieve Lessee of dw responsrbril les under the Master Leave Agreemot Signed Cowdapw= The parties agree that this Lease may be sued in coonarparta, do delivery of an executed cmuitapart of die sigriMM page to this Lease by fix. enmil or alba dedwaic means shall be as cBedive as delivery of a manually excadad aoontapart, and my hilum to deliver the wigiad manually cwu*d cmftr est seat by far. email or otter electronic means shall not affect die validity, enforoeabiWy or binding eflaot of this 1.ease. Notwidu tamding any ether pravisiaa of thls Leaw the sok original of this Lase shell be the Lease tearing the manually owcated sipstwe of the Lessor. The Lessee, by makinB any pWoment required uadc this Lease ratifies allofdeterms ofthis Lea'dAmmmeaL This Equipment Schedule is issued pwm mt to the Master Lease dated, May 27.2015 (the "Lease'). All of the tams and oonditt=% representati = and wananties of the Lease aro hereby incorporated herein and made a part haoof a if they were expressly set froth in this Bgvipment Schedule and 6b Equipment Schedule constitutes a separate lease with respect to the Equipment described herein. LESSEE: CITY OF BBEMERTON 41y: �1 lame:� ype o int �itle ��oyoC LEM& YAMAHA MR CORPORATION. U.S.A. -- By: - - Mm Ruiz Name: _ Title- t Vice Prosidw Gold Mountain Golf Course AMORTIZATION SCHEDULE FOR MUNICIPALITY MUNICIPAL LEASE AGREEMENT LESSEE: Gold Mountain Golf Course EQUIPMENT SCHEDULE # 112224 Yield: 3.400% Due Mon # Date Pavment Interest 1 06/15/15 5.977.47 1.39625 2 07/15/15 5.977.47 1.383.64 3 08/15/15 5.977.47 1.370.99 4 09/15/15 5.977.47 1.358.30 5 10/15/15 5.977.47 1.345.58 6 11/15/15 5.977.47 1.332.82 7 12/15/15 5.977.47 1.320.03 8 01/15/16 5.977.47 1.307.21 9 02/15/16 5.977.47 1.294.34 10 03/15/16 5.977.47 1.281.45 11 04/15/16 5.977.47 1.268.51 12 05/15/16 5977.47 1.255.55 13 06/15/16 5.977.47 1.242.54 14 07/15/16 5.977.47 1.229.50 15 08/15/16 5.977.47 1.216.43 16 09/15/16 5.977.47 1.203.31 17 10/15/16 5977.47 1.190.17 18 11/15/16 5.977.47 1.176.98 19 12/15/16 5.977.47 1.163.76 20 01/15/17 5.977.47 1.150.51 21 02/15/17 5.977.47 1.137.21 22 03/15/17 5.977.47 1.123.88 23 04/15/17 5.977.47 1.110.52 24 05/15/17 5.977.47 1.097.11 25 06/15/17 5.977.47 1.083.67 26 07/15/17 5.977.47 1.070.20 27 08/15/17 5.977.47 1.056.68 28 09/15/17 5.977.47 1.043.13 29 10/15/17 5.977.47 1.029.54 30 11/15/17 5.977.47 1.015.91 31 12/15/17 5.977.47 1,002.25 32 01/15/18 5.977.47 988.55 33 02/15/18 5.977.47 974.81 34 03/15/18 5.977.47 961.03 35 04/15/18 5.977.47 947.22 36 05/15/18 5.977.47 933.36 37 06/15/18 5.977.47 919.47 38 07/15/18 5.977.47 905.54 39 08/15/18 5.977.47 891.58 40 09/15/18 5.977.47 877.57 41 10/15/18 5.977.47 863.52 42 11/15/18 5.977.47 849.44 43 12/15/18 5.977.47 835.32 44 01/15/19 5.977.47 821.16 45 02/15/19 5.977.47 806.96 46 03/15/19 5.977.47 792.72 47 04/15/19 5.977.47 778.44 48 05/15/19 5,977.47 764.12 Totals: 286,918.56 52,168.80 4nitialed By: EXHIBIT A EQUIPMENT SCHEDULE # 112225 Dated 05/27/2015 This Schedule covers the following property ("Equipment"): 4 YDRAEFI, l YT1A, 2 YT2ABEV1 Location of Equipment: GOLD MOUNTAIN GOLF CLUB 7263 W. BELFAIR VALLEY RD BREMERTON, WA 98312 3. The Lease term for the Equipment described herein shall commence on .Tune 15, 2015 __ and shall consist of _-_ 48 .- months from the first day of the month following said date. 4. Rental payments on the Equipment shall be in the following amounts, payable on the following schedule: 48 MONTHLY PAYMENTS IN THE AMOUNT OF $749.98 (APPLICABLE TAXES TO BE BILLED). STARTING JUNE 2015 AND ENDING MAY 2019. DUE THE 15TH DAY OF THE MONTH AS FOLLOWS: Jun -15 $749.98 3an-16 $749.98 Jan -17 $749.98 Jan -18 $749.98 Jan -19 $749.98 Jul -15 $749.98 Feb -16 $749.98 Feb -17 $749.98 Feb -18 $749.98 Feb -19 $749.98 Aug -15 $749.98 Mar -16 $749.98 Mar -17 $749.98 Mar -18 $749.98 Mar -19 $749.98 Sep -15 $749.98 Apr -16 $749.98 Apr -17 $749.98 Apr -18 $749.98 Apr -19 $749.98 Oct -15 $749.98 May -16 $749.98 May -17 $749.98 May -18 $749.98 May -19 $749.98 Nov -15 $749.98 Jun -16 $749.98 Jun -17 $749.98 Jun -18 $749.98 Dec -15 $749.98 Jul -16 $749.98 Jul -17 $749.98 Jul -18 $749.98 Aug -16 $749.98 Aug -17 $749.98 Aug -18 $749.98 Sep -16 $749.98 Sep -17 $749.98 Sep -18 $749.98 Oct -16 $749.98 Oct -17 $749.98 Oct -18 $749.98 NOV-16 $749.98 Nov -17 $749.98 Nov -18 $749.98 Dec -16 $749.98 Dec -17 $749.98 Dec -18 $749.98 5. Interest Factor: •�� `�/o 6. Other Terms: Lessee agrees to reimburse Lessor, who shall pay any assessed property taxes due on the equipment leased pursuant to Section 12 of the Master Lease Agreement. Yamaha is not obligated to perform or provide any service, under any circumstances under the terms of the lease agreement. Service is the responsibility of the Lessee. Failure by Lessee to maintain or service the equipment consistent with the terms of the Master Lease Agreement shall not relieve Lessee of the responsibilities under the Master Lease Agreement. Signed Counterparts: The parties agree that this Lease may be signed in counterparts, that delivery of an executed counterpart of the signature page to this Lease by fax, email or other electronic means shall be as effective as delivery of a manually executed counterpart, and any failure to deliver the original manually executed counterpart sent by fax., email or other electronic means shall not affect the validity, enforceability or binding effect of this Lease. Notwithstanding any other provision of this Lease, the sole original of this Lease shall be the Lease bearing the manually executed signature of the Lessor. The Lessee, by making any payment required under this Lease ratifies all of the terms of this Lease/Aareement. This Equipment Schedule is issued pursuant to the Master Lease dated, May 27, 2015 (the "Lease"). All of the terms and conditions, representations and warranties of the Lease are hereby incorporated herein and made a part hereof as if they were expressly set forth in this Equipment Schedule and this Equipment Schedule constitutes a separate lease with respect to the Equipment described herein. LESSEE: CITY OF BREMERTON By: 6P4SiZgpnatqur -- ame: 14 -�t IK"i'yMpe tnt Title- 060 �s LESSOR: YAMAHA MOTOR CORPORATION, U.S.A. - By: - - Kim Ruiz Name: Vice President Title 3 I' I:t M t:trI ei 4 Ddod7215 1. Ilm Schedule covets the Mown FWrty ("EgmpmmY)� 4 YDRAEFI. l YT1A. 2 YM4BEV1 2. LocNim of Equipment GOLD) MOUNTAIN GOLF CLUB 7263 W. BWAUt VALLEY RD BREMERTOM WA95313 3. The lease farm ibt the Equipinuffi dearfl ed herein shell oomnTanoe on Juno 1& 2015 and shall ca7sid of --4P monft font the fust day of the moa& Wowing said dabs. 4. Rental payments on the Egmpma d shall be in the following amorous, p@*Io on the Mowing schedule: 4B MUMMY PAVNlENT5 IN THE AMOUNT OF $749.98 (AffUCA LE TAXES TO BE BUAJ D). STARTING JUNE 2015 AND ENDING MAY 2619. DUE THE ISM DAY OF THE MONTH AS EOLUMM AW15 $7"n 1e1P76 $Mn 3err17 tN&96 ]ende V49.98 3em19 p99.90 719.15 taM9.9B Wi6 p7'a9B Fetrl7 P4&9B Feb -is P" Fea9 37M e SWIS 3749.98 Apr -n i70M W27 374a9e V -1s 37tA9e APr- 9 PWIB WAS f74LE M7>r-16 PGA W17 P"M M 2l $7ft9B ttey19 Vg9.9B Now15 X98 ]uo-16 !74M 71x17 POM ]ale 39t9.9a aeo-is $ M9.9B 71>F16 #J41.9B IdW ~ 7dF1a $ MA9a AUR -16 P" AIWV 37eA9B A WIB tem SW16 $Mn sep•17 37OM SWm PIAN OaA16 37t99e Od-17 PW9B Oe-18TWl.9a TtWlG $Mn nar17 p" Mafia 37MA9B Der16 4�9A Deo - x& 17 $MM D1B;7w9.9e 3. blbmest Fectar: 40Q 6. Other TMms: lesee agsaes to se1Tnse Lmw, who Bball pay any assessed pmpaty taua due an the equipment leased pusran®st to Socfm 12 ofto Mester Lease Agremted. Yamaha is rot oblopbd bo pttrli0rm or provide any m vbxk tmdW troy dfcMMWMunftthctMM of the base agteema t Selvim is db 1o>tpoaBeM ty of the Lessee. Failaw by IAsM to meiallim OF Bavicc the equipmTelt coadatmt wM the terms of dw M=W Lem Agreement abeII not eelim Lm" of the Iaeponsnbilld9s'ender the Mesmer'Ago Agmmw t Signed Camupa ac The psdm vac dot 03, — uW lx etgsod to =mtspe %that ddWmy of ao WOM"d coeatospert of the sl ppm page to the Lem by fW6 resit or other doctm b tram sial) bees cffmdve IS ddhuy of a maunlly cWcu d sou pkzP" and ray fisihae to delim the od&b l msmallbr eaecated aonnbelpert sot by far, email ar atber elerbonic mesas shall not affed Be YdWhy. anhcc=bMW =Waft met aftbb Leese. WAWftWMftlPYcdWPW4bjM af*b Leese, tt7e sole reheat of Ob LAM shell be the Lmwl erie6 the memdly me med sigumm oftbe Lessor. The Lash by meideg mY PWWAd fuPdmd w dw this Lease ratifies all of ft terms afWs LcudAuccua rot This Equipment S*edole id modpmsoaal m the Master Lease dated, Mail 27.2015 (the "Lease"). All of due teems and cmddions, sons and warraQtim of the lease me hereby incorporated herein and made a part hereof as B' they were e7T mndy sat forth in this Egoopmant Sebednb and this Equipment Seheddc ocatstianes a agpn to base with tsTspat to the Egaips>T Ot desatW bt:eio. LESSEE: CITY MUM= LESSOR: YAMAHA Mt4 RATION, USA. By: By: a1ne:�. Name: Iron fiTItIN Ver PlasWwd Title ��pt✓ Tide- Q6�0�� YAMAHA Gold Mountain Golf Course AMORTIZATION SCHEDULE FOR MUNICIPALITY MUNICIPAL LEASE AGREEMENT LESSEE: Gold Mountain Golf Course EQUIPMENT SCHEDULE # 112225 Yield: 3.400% Due n # Date Payment Interest 1 06/15/15 749.98 132.60 2 07115/15 749.98 130.90 3 08/15/15 749.98 129.21 4 09/15/15 749.98 127.50 5 10/15/15 749.98 125.80 6 11/15/15 749.98 124.08 7 12/15/15 749.98 122.37 8 01/15/16 749.98 120.64 9 02/15/16 749.98 118.92 10 03/15/16 749.98 117.19 11 04/15/16 749.98 115.45 12 05/15/16 749.98 113.71 13 06/15/16 749.98 111.96 14 07/15/16 749.98 110.21 15 08/15/16 749.98 108.46 16 09/15/16 749.98 106.70 17 10115/16 749.98 104.93 18 11/15/16 749.98 103.16 19 12115/16 749.98 101.39 20 01/15/17 749.98 99.61 21 02/15/17 749.98 97.82 22 03/15/17 749.98 96.04 23 04/15/17 749.98 94.24 24 05/15/17 749.98 92.44 25 06/15/17 749.98 90.64 26 07/15/17 749.98 88.83 27 08115/17 749.98 87.02 28 09/15/17 749.98 85.20 29 10/15/17 749.98 83.37 30 11/15/17 749.98 81.54 31 12/15/17 749.98 79.71 32 01/15/18 749.98 77.87 33 02/15/18 749.98 76.03 34 03/15118 749.98 74.18 35 04/15/18 749.98 72.32 36 05/15/18 749.98 70.47 37 06/15/18 749.98 68.60 38 07/15/18 749.98 66.73 39 08/15/18 749.98 64.86 40 09/15/18 749.98 62.98 41 10/15/18 749.98 61.09 42 11/15/18 749.98 59.20 43 12/15/18 749.98 57.31 44 01/15/19 749.98 55.41 45 02/15/19 749.98 53.50 46 03/15/19 749.98 51.59 47 04/15119 749.98 49.68 48 05/15/19 749.98 47.75 Totals: 35,999.04 4,371.21 �nitialecl By: 4, W ACORN® CERTIFICATE OF LIABILITY INSURANCE DA06/05/2015 Y) 06/05/2015 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(les) must be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER Willis of Seattle, Inc. CONTACT NAME: c/o 26 Century Blvd PHONE FAX A/C No Ext:1-877-945-7378 A/C No:1-888-467-2378 E-MAIL ADDRESS: certificates®willia.com P.O. Box 305191 Nashville, TN 372305191 USA INSURERS AFFORDING COVERAGE NAIC # INSURER A:Lexington Insurance Company 19437 INSUREDCity of Bremerton INSURERB:American Home Assurance Company 19380 INSURER C : Attn: Thelma Swem 345 Sixth Street Suite 600 INSURER D: INSURER E: Bremerton, WA 983371873 INSURER F: COVERAGES CERTIFICATE NUMBER:W952228 REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSRTYPE LTR OF INSURANCE ADDL SUBR POLICY NUMBER POLICY EFF MM/DD/YYYY POLICY EXP MM/DD/YYYY LIMITS COMMERCIAL GENERAL LIABILITY C4O EACH OCCURRENCE $ CLAIMS -MADE OCCUR DAMAGE TO RENTED PREMISES Ea occurrence $ MED EXP (Any one person) $ PERSONAL 8 ADV INJURY $ GEN'L AGGREGATE LIMIT APPLIES PER GENERAL AGGREGATE $ POLICY PRO ❑ LOC JECT PRODUCTS - COMP/OP AGG $ $ OTHER AUTOMOBILE LIABILITY COMBINED SINGLE LIMIT $ Ea accident BODILY INJURY (Per person) $ ANY AUTO ALL OWNED SCHEDULED AUTOS AUTOS BODILY INJURY (Per accident P ( ) $ NON -OWNED HIRED AUTOS AUTOS PROPERTY DAMAGE Per accident)$ $ A UMBRELLA LIAR X OCCUR EACH OCCURRENCE $ 1,000,000 AGGREGATE $ 1,000,000 X EXCESS LIAB CLAIMS -MADE Y 065463585 02/01/2015.02/01/2016 DED X RETENTION $500 000 $ WORKERS COMPENSATION PER OTH- ANDEMPLOYERS' LIABILITY Y / N STATUTE ER E L EACH ACCIDENT $ ANY PROPRIETOR/PARTNER/EXECUTIVE OFFICER/MEMBER EXCLUDED. N / A E L DISEASE - EA EMPLOYE $ (Mandatory in NH) If yes, describe under E L DISEASE - POLICY LIMIT $ DESCRIPTION OF OPERATIONS below H Property 80768563 12/31/2014 12/31/2015 .See Below DESCRIPTION OF OPERATIONS/ LOCATIONS /VEHICLES (ACORD 101, Additional Remarks Schedule, maybe attached If more apace is required) Equipment Covered: 120 YDRAESI Golf Cars; 4 YDRAEFI Golf Cars; 1 YT1A Golf Car; 2 YT2ABEV1 Golf Cara Value of Equipment: $550,000 Deductible: $25,000 per occurrence Yamaha Motor Corporation, U S.A. Attn: Leasing Department 6555 Katella Ave fypress, CA 90630 6An1L,CL.LA I WN SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESENTATIVE ^r J ©1988-2014 ACORD CORPORATION. All rights reserved. ACORD 25 (2014/01) The ACORD name and logo are registered marks of ACORD SR ID:9412477 BATCH:Batch #: 145941 ACORV f--�-' AGENCY CUSTOMER ID: LOC #: ADDITIONAL REMARKS SCHEDULE Page 2 of 2 AGENCY NAMED INSURED Willis of Seattle, Inc. City of Bremerton Attn: Thelma Swem POLICY NUMBER See Page 1 345 Sixth Street Suite 600 Bremerton, WA 983371873 CARRIER NAIC CODE See Page 1 See Page 1 1 EFFECTIVE DATE: See Page 1 AUUI I IUNAL KtMAKKb THIS ADDITIONAL REMARKS FORM IS A SCHEDULE TO ACORD FORM, FORM NUMBER: 25 FORM TITLE: Certificate of Liability Insurance Yamaha Motor Corporation, U.S.A. is included as an Additional Insured as respects to Excess Liability where required by written contract per attached endorsement. Yamaha Motor Corporation, U.S.A. is included as Loss Payee as respects referenced equipment. RL,URU ,u I JcUUaiUTI © 2008 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD 9412477 Bach #: 145941 W952228 , EXHIBIT A EQUIPMENT SCHEDULE # 200459 Dated wignoiq 1. This Schedule covers the following property ("Equipment"): 124 DR2AEF1/1 YU1A /3 YU2A GOLF CARS 2, Location of Equipment: GOLD MOUNTAIN GOLF CLUB 7263 W. BELFAIR VALLEY RD BREMERTON, WA 98310 3. The Lease term for the Equipment described herein shall commence on _ and shall consist of 48 months from the first day of the month following said date. 4. Rental payments on the Equipment shall be in the following amounts, payable on the following schedule: 48 MONTHLY PAYMENTS IN THE AMOUNT OF $8,645.72 (APPLICABLE TAXES TO BE BILLED). STARTING JULY 2019 AND ENDING JUNE 2023. DUE THE 28TH DAY OF THE MONTH AS FOLLOWS: Jul -19 $8,645.72 ]an -20 $8,645.72 W-21 $8,645.72 Jan -22 $8,645.72 Jan -23 $8,645.72 Aug -19 $8,645,72 Feb -20 $8,645.72 Feb -21 $8,645,72 Feb -22 $8,645.72 Feb -23 $8,645,72 Sep -19 $8,645.72 Mar -20 $8,645.72 Mar -21 $8,645.72 Mar -22 $8,645.72 Mar -23 $8,645.72 Oct -19 $8,645.72 Apr -20 $8,645.72 Apr -21 $8,645.72 Apr -22 $8,645.72 Apr -23 $8,645.72 Nov -19 $8,645.72 May -20 $8,645.72 May -21 $8,645.72 May -22 $8,645.72 May -23 $8,645.72 Dec -19 $8,645.72 Jun -20 $8,645.72 Jun -21 $8,645.72 Jun -22 $8,645.72 Jun -23 $8,645.72 Jul -20 $8,645.72 Jul -21 $8,645.72 Jul -22 $8,645.72 Aug -20 $8,645.72 Aug -21 $8,645.72 Aug -22 $8,645.72 Sep -20 $8,645.72 Sep -21 $8,645,72 Sep -22 $8,645.72 Oct -20 $8,645.72 Oct -21 $8,645.72 Oct -22 $8,645.72 Nov -20 $8,645.72 Nov -21 $8,645.72 Nov -22 $8,645.72 Dec -20 $8,645.72 Dec -21 $8,645.72 Dec -22 $8,645.72 5. Interest Factor: 4.80 % 6. Other Terms: Lessee agrees to reimburse Lessor, vvho shall pay any assessed property taxes due on the equipment leased pursuant to Section 12 of the Master Lease Agreement dated 06/18/2019 between the parties(the"Lease"). Yamaha Motor Corporation, U.S.A., Lessor and their respective subsidiaries are not obligated to perform or provide any maintenance or service, under any circumstances, under the terms of the Lease. Maintenance and service are the responsibility of the Lessee. Failure by Lessee to maintain or service the equipment consistent with the terms of the Lease shall not relieve Lessee of the responsibilities under the Lease. Signed Counterparts: The parties agree that this Exhibit A to the Lease may be signed in counterparts, that delivery of an executed counterpart of the signature page to this Exhibit A to the Lease by fax, email or other electronic means shall be as effective as delivery of a manually executed counterpart, and any failure to deliver the original manually executed counterpart sent by fix, email or other electronic means shall not affect the validity, enforceability or binding effect of this Exhibit A to the Lease. Notwithstanding any other provision of the Lease, the sole original of this Exhibit A to the lease and the Lease shall be the ones bearing the manually executed signature of the Lessor. The Lessee, by making any payment required under this Lease, ratifies all of the terms of this Exhibit A to the Lease and the Lease Master Lease: This Exhibit A to the Lease, Equipment Schedule, are issued pursuant to the Lease. Capitalized terms used herein and not otherwise defined shall have the meanings given them in the Lease. All terms and conditions, representations and warranties of the Lease are hereby ratified and incorporated herein and made a part hereof as if they were expressly set forth in this Exhibit A, Equipment Schedule and this Exhibit A, Equipment Schedule, constitutes a separate lease with respect to the Equipment described herein, LESSEE: CITY OF BREMERTON -XBy: n S* Name: 4' 4A 44' Type or Print '/Title: 0-101 — LESSOR: YAMAHA MOTOR FINANCE CORPORATION, U.S.A. By: Name: Jeff oung Title: President YAMAHA 4F Commercial Finance MUNICIPAL MASTER LEASE AGREEMENT Page 1 of 4 MLSE0906 YA M A H A YAMAHA MOTOR FINANCE CORPDRATON.V.G.A. MASTER LEASE AGREEMENT dated June 18,2019 between YAMAHA MOTOR FINANCE CORPORATION, U.S.A., place of business at 6555 KateUm Avenue, Cypress, California 90630 ("Lessor"), and ='' ~' =^E"ER'ON having its principal office at P.O. ('Lessee"). Lessor and Lessee hereby agree as follows: 1Lessor leases omLessee the | Schedule (the ]Equir)m@nl.nnthe terms and conditions of this Lease, the applicable Equipment Schedule, and each rider attached hereto. 2. Term. The term oythis lease for the Equipment described ono particular Equipment Schedule shall commence nnthe date set forth on such Equipment Schedule and shall continue for the number of months indicated on such Equipment Schedule. 3 Lessee shall pay Lessor rent for the Equipment CBenf) in the amounts and at the times set forth on the applicable Equipment Schedule. The amount of the Rent has been determined by amortizing the purchase price of the applicable Equipment (using the pricesquoted in the Request for Proposal identified on the applicable Equipment Schedule ('B.FF)), together with an Interest factor at the rate specified in the applicable Equipment Schedule. Whenever any payment hereunder is not made when due, Lessee shall pay interest on such amount from the due date thereof to the date of such payment at the lower of Lessors then prevailing rate for late payments specified in Lessor's invoice to Lessee for such payment or the maximum allowable rate of interest permitted by the law of the state where the Equipment is located. 4. Selection, Delivery, and Accer)tance. Lessee shall select the Equipment and take delivery thereof directly from Lessor or an authorized dealer of Lessor (the "Degler). All costs of delivery are the sole responsibility of Lessee. Lessor shall not be liable for any loss or damage resulting from the delay or failure to have any Equipment available for delivery. Lessee shall inspect the Equipment to determine that the Equipment Is as ordered and has been equipped and prepared in accordance with the RFP and any prior instructions given in writing by Lessee to Lessor or Dealer. Lessee shall accept the Equipment if it meets the criteria set forth in the preceding sentence and shall execute and deliver to Lessor or Dealer a Certificate of Acceptance, in form and substance satisfactory to Lessor, within 7 days of the delivery of the Equipment or the Equipment will be deemed accepted by the Lessed. For all purposes of this Lease, acceptance is conclusively established by Lessee's execution and delivery of a Certificate of Acceptance provided by Lessor. Lessee authorizes Lessor to insert in each Equipment Schedule the serial numbers and other Identifying data of the Equipment. 5Lessee ohoU not move the Equipment from the |oumUnne specified in the applicable Equipment Schedule without Lassoes prior written consent. Lessor and Its representatives ahoU have the right from time to time during business hours to enter upon the premises where the Equipment is located to inspect the Equipment and Lessee's moonb to confirm Leeu$n'a compliance with this Lease. o mhe|L at its mxponae, at all times during the hmnn of this Lease, keep the Equipment deon, oerNced, and maintained in good operating order, repair, condition, and appearance in accordance with Lessor's manuals and cdhm instructions received from Lessor. Lessee will not use oroperate the Equipment, or permit the Equipment tobe used or operated,in violation of any law, ordinance or governmental regulations. The Equipment will be used and operated only as golf cars. Lessee shall safely store the Equipment when not in use and properly secure it at night and such other times when the golf course on which the Equipment is used is closed to play, and Lessee shall be solely responsible for such storage and safekeeping. If the Equipment is electrical, Lessee shall provide sufficient and adequate electrical charging outlets and water facilities for the batteries which are a part of the Equipment. 7 Effective delivery of the Equipment to Lessee and until the Equipment is returned to Lessor as provided herein, Lessee relieves Lessor of responsibility for all risk of physical damage to or loss or destruction of all the Equipment, howsoever caused. During the continuance of this Master Lease, Lessee shall at its own expense, cause to be carried and maintained with respect to each item of Equipment designated in each Equipment Schedule, public liability insurance in an amount of not less than $1,000,000, and casualty insurance, in each case in amounts and against risk customarily Insured against by Lessee in similar equipment and, in amounts and against risk acceptable to Lessor. All policies with respect to such insurance shall name Lessor as additional insured and as loss payee, and shall provide for at least thirty (30) days' prior written notice by the underwriter or insurance company to Lessor in the event of cancellation or expiration of any such policies. Lessee shall furnish appropriate evidence of such insurance to Lessor. Lessee shall bear the entire risk of loss, theft, destruction or damage to the Equipment from any cause whatsoever and shall not be relieved of the obligation to pay the total of the monthly payments or any other obligation hereunder because of any such occurrence. In the event of damage to any item of Equipment leased hereunder, Lessee, at its sole expense, shall immediately place the same in good repair and operating condition, In no event shall Lessor be liable for any loss of profit, damage, loss, defect or failure of any item of Equipment or the time which may be required to recover, repair, service, or replace the Rem of Equipment. 8. Storage. Lessee shall store the Equipment insuch omanner as to prevent theft or damage from weather and vandalism 9. Title. Title to the Equipment shall at all times remain with the Lessor. Lessee acquires only the interests of Lessee expressly described in this Lease, the applicable Equipment Schedule, and the riders attached hereto. Lessee shall not remove, move, or cover over in any manner any serial number on the Equipment. Lessee shall keep all Equipment free from any marking or labeling which might be interpreted as a claim of ownership thereof by Lessee or any party other than Lessor or anyone so claiming through Lessor, Lessor Is hereby authorized by Lessee, at Lessor's expense, to cause this Master Lease, any Equipment Schedule or any statement or other instrument in respect of any Equipment Schedule as may be required by law showing the interest of Lessor in the Equipment to be filed and Lessee hereby authorizes Lessor or Its agent to sign and execute on Its behalf any and all necessary UCC -1 forms for such purpose. Lessor and Lessee hereby intend this transaction to be a lease. In the event that for any reason it is not deemed a lease, the Lessee hereby grants Lessor a security interest in the property shown on the Equipment Schedule, Page uo«* MLSE0906 10. Warranties. The Equipment is warranted only in accordance with the manufacturer's warranty. EXCEPT AS EXPRESSLY PROVIDED IN THE MANUFACTURERS WARRANTY, LESSOR DISCLAIMS ANY OTHER WARRANTY, EXPRESSED OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON -INFRINGEMENT AND NON-INTERFERENCE, 11. Alterations and Attachments Lessee may, with Lessors prior written consent, make such cosmetic modifications to the Equipment as Lessee may deem desirable in the conduct of its business; provided, however, that such alterations shall not diminish the value or utility of the Equipment, or cause the loss of any warranty thereon or any certification necessary for the maintenance thereof; and provided, further, that such modification shall be removable without causing damage to the Equipment. Upon return of the Equipment to Lessor, Lessee shall, if Lessor so elects, remove such modifications which have been made and shall restore the Equipment to its original condition, normal wear and tear and depreciation excepted. 12. Taxes. Lessee shall cooperate with Lessor in all reasonable respects necessary in order for Lessor to qualify for any exemption or exclusion from personal property tax on the equipment or sales or use tax on the leasing of the Equipment to Lessee hereunder. In the event that any such tax becomes payable by Lessor during the term of this Lease, Lessee shall pay to Lessor as additional rent, promptly on receipt of Lessor's invoice therefor, an amount equal to such tax, Lessee shall collect and remit any and all sales, use, and other taxes payable in any state, county, or city in respect of the rental or other use of the Equipment by Lessee. 13. Indemnity: Notice of Claim. To the extent permitted by applicable law, Lessee shall be liable for, and hereby Indemnifies Lessor and holds Lessor harmless from and against, any and all claims, costs, expenses, damages, losses, and liabilities (including, without limitation, attorneys' fees and disbursements) arising in any way from the gross negligence or willful misconduct of Lessee or Lessee's agents and independent contractors, or their respective employees, agents or representatives. Lessee shall give Lessor prompt written notice of any claim arising out of the possession, leasing, renting, operation, control, use, storage, or disposition of the Equipment and shall cooperate in all reasonable respects at Lessee's expense in investigating, defending, and resolving such claim. 14. Return of Equiomerrt. Upon the termination of an Equipment Schedule for any reason, unless Lessee is thereupon purchasing the Equipment from Lessor, Lessee shall make the Equipment available for inspection and pick up by Lessor or Dealer at Lessee's location at which the Equipment was used hereunder. The Equipment shall be returned to Lessor at the termination of this Lease in the same operating order, repair, condition, and appearance as when received by Lessee, less normal depreciation and wear and tear (which shall not include damaged or missing tires or wheels). 15. Defaults. The occurrence of any one or more of the following events shall constitute an "Event of Default" under this Lease: (a) Default by Lessee in the payment of any installment of rent or other charge payable by Lessee under any Equipment Schedule as and when the same becomes due and payable; or (b) Default by Lessee In the performance of any other material term, covenant or condition of this Lease or any Equipment Schedule or the inaccuracy in any material respect of any representation or warranty made by the Lessee in this Lease or any Equipment Schedule, or in any document or certificate furnished to the Lessor in connection therewith, which default or inaccuracy shall continue for a period of 10 days after notice; or (c) A petition under the Bankruptcy Code or under any other insolvency law providing for the relief of debtors shall be filed by or against Lessee; or (d) The voluntary or involuntary making of any assignment of a'substanfial portion of its assets by Lessee for the benefit of creditors shall occur-, a receiver or trustee for Lessee or for Lessee's assets shall be appointed; or any formal or informal proceeding for dissolution, liquidation, settlement of claims against or winding up of the affairs of Lessee shall be commenced; or (e) Lessee shall default under any other lease or agreement between Lessee and Lessor [or any of its assignees hereunder]; or (f) Lessee shall suffer a material adverse change in its financial condition from the date hereof, and as a result thereof Lessor deems itself or any of the Equipment to be insecure. 16. Remedies. Upon the occurrence of an Event of Default Lessor, at Its option, may pursue any one or more of the following remedies, in such order or manner as Lessor determines, each such remedy being cumulative and not exclusive of any other remedy provided herein or under applicable law: (a) Terminate all or any portion of the Equipment Schedules to this Lease; (b) with or without terminating this Lease, take possession of the Equipment, with or without judicial process, Lessee hereby granting Lessor the right and license to enter upon Lessee's premises where the Equipment is located for such purpose; (c) proceed by appropriate court action, either at law or in equity, to enforce performance by Lessee of the applicable covenants and terms of this Lease, or to recover from Lessee any and all damages or expenses, including reasonable attorneys' fees, which Lessor shall have sustained by reason of Lessee's default in any covenant or covenants of this Lease, or on account of Lassoes enforcement of its remedies thereunder; without limiting any other damages to which Lessor may be entitled, Lessor shall be entitled upon an Event of Default to damages in an amount equal to all Rent then due but unpaid, plus the aggregate amount of Rent thereafter coming due for the remaining term of this Lease, plus Lassoes costs and expenses of pursuing its remedies hereunder (including, without limitation, attorneys' fees), minus all amounts received by Lessor after using reasonable efforts to sell or re -lease the Equipment after repossession or from any guaranty by the Dealer or any third -party; and (d) sell the Equipment or enter into anew lease of the Equipment, It is hereby agreed that no delay by Lessor in pursuing any remedy shall be treated as a waiver of or limitation on such remedy or any other remedy 17. Assignment. Neither Lessee nor Lessor shall transfer, assign, or sublease (except for rentals to players as contemplated hereunder in the ordinary course of business), or create, incur, assume, or permit to exist any security interest, lien, or other encumbrance on, the Equipment, this Lease, or any interest of Lessee therein. 18. Lessee's Representations and Warranties. Lessee represents and warrants to Lessor that: (a) Lessee has the authority under applicable law to enter into and perform this Lease and each Equipment Schedule and rider hereto; (b) Lessee has taken all necessary action to authorize its execution, delivery, and performance of this Lease and each Equipment Schedule and rider hereto; (c) the Lease and each Equipment Schedule and rider hereto have been duty executed and delivered by an authorized signatory of Lessee and constitute Lessee's legal, valid, and binding obligations, enforceable in accordance with their terms; (d) adequate funds have been budgeted and appropriated to enable Lessee to make all payments required under each Equipment Schedule to this Lease during the first twelve months of the term hereof, and (a) interest paid on Indebtedness of Lessee held by Lessor would be excluded from Lessors income for U.S. federal income tax purposes. Page 3 of 4 MLSE0906 19. Non-Aippropriation of Funds. Notwithstanding anything contained in this Lease to the contrary, in the event no funds or insufficient funds are budgeted and appropriated or are otherwise unavailable by any means whatsoever for Rent due under the Lease with respect to a Equipment Schedule in any fiscal period after the period in which the term of the lease with respect to such Equipment Schedule commences, Lessee will immediately notify Lessor in writing of such occurrence and the Lessee's obligations under the Lease shall terminate on the last day of the fiscal period for which appropriations have been received or made without penalty or expense to Lessee, except as to () the portions of Rent for which funds shall have been budgeted and appropriated or are otherwise available and (ii) Lessee's other obligations and liabilities under the Lease relating to the period, or accruing or arising, prior to such termination. In the event of such termination, Lessee agrees to peaceably surrender possession of the Equipment to Lessor on the date of such termination in the manner set forth in the Lease and Lessor will have all legal and equitable rights and remedies to take possession of the Equipment Notwithstanding the foregoing, Lessee agrees (i) that it will not cancel the Lease and the Lease shall not terminate under the provisions of this section if any funds are appropriated to it, or by it, for the acquisition, retention or operation of the Equipment or other equipment or services performing functions similar to the functions of the Equipment for the fiscal period in which such termination would have otherwise occurred or for the next succeeding fiscal period, and (ii) that it will not during the Lease term give priority in the application of funds to any other functionally similar equipment or to services performing functions similar to the functions of the Equipment. This section is not intended to permit Lessee to terminate the Lease in order to purchase, lease, rent or otherwise acquire the use of any other equipment or services performing functions similar to the functions of the Equipment and if the Lease terminates pursuant to this section, Lessee agrees that prior to the end of the fiscal period immediately following the fiscal period in which such termination occurs, it will not so purchase, lease, rent or otherwise acquire the use of any such other equipment or services. 20. Binding Effect: Successors and Assigns. This lease and each Equipment Schedule and rider hereto shall be binding upon and shall inure to the benefit of Lessor and Lessee and their respective successors and permitted assigns. All agreements and representations of Lessee contained in this Lease or in any document delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Lease and the expiration or other termination of this Lease, 21. Notices. Any notice, request or other communication to either party by the other shall be given in writing and shall be deemed received only upon the earlier of receipt or three days after mailing if mailed postage prepaid by regular mail to Lessor or Lessee, as the case may be, at the address for such party set forth in this agreement or at such changed address as may be subsequently submitted by written notice of either party. 22. Governing Law. This Lease and each Equipment Schedule and rider hereto shall be governed by and construed in accordance with the laws of the State where Lessee's principal administrative offices are located without giving effect to the conflicts of laws principles of such state. 23. Severability. In the event any one or more of the provisions of this Lease or any Equipment Schedule or rider hereto shall for any reason be prohibited or unenforceable in any jurisdiction, any such provision shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 24. Signed Counterparts The parties agree that this Lease may be signed in counterparts, that delivery of an executed counterpart of the signature page to this Lease by fax, email or other electronic means shall be as effective as delivery of a manually executed counterpart, and any failure to deliver the original manually executed counterpart sent by fax, email or other electronic means shall not affect the validity, enforceability or binding effect of this Lease. Notwithstanding any other provision of this Lease, the sole original of this Lease shall be the Lease bearing the stamped or manually executed signature of the Lessor. The Lessee, by making any payment required under this Lease, ratifies all of the terms of this Lease/Agreement, 25, Article 2A To the fullest extent permitted by applicable law, Lessee waives any and all rights and remedies conferred by Sections 2A- 508 through 2A-522 of Article 2A of the Uniform Commercial Code in effect in the state designated in Section 22 above, except to the extent that such right or remedy is expressly granted to Lessee herein. 26. Statute of Limitations. Any action by Lessee against Lessor or Dealer for any breach or default under this Lease must be commenced within one year after the cause of action accrues. 27. Entire Agreement, This Lease and all Equipment Schedules and riders hereto constitute the entire agreement between Lessor and Lessee with respect to the subject matter hereof, and there are no agreements, representations, warranties, or understandings with respect to such subject matter except as expressly set forth herein and therein, No alternation or modification of this Lease or any Equipment Schedule or rider hereto shall be effective unless it is in writing and signed by Lessor and Lessee. IN WITNESS WHEREOF, Lessor and Lessee have caused this Lease to be executed on the date first above written. CITY OF BREMERTON By: Print Name: WVm&Ars LA Title: as Lessee YAMAHA MOTOR FINANCE CORPORATION, U.S.A. as Lessor BY: Print Name: Jeff Young Title: President Page 4 of 4 MLSE0906 This certificate is executed pursuant to Equipment Schedule No. 200459 dated June 18,, 2019 to the Master Lease Agreement dated June 18,2019 . ..... between Yamaha Motor Finance Corporation, U.S.A. (the "Lessor") and CITY OF BREMERTON (the "Lessee"). The Lessee hereby certifies that the Equipment set forth below, as also described in the above Equipment Schedule, has been delivered and accepted by the Lessee on the Commencement Date shown below. EQ QUANTITY TYPEIMODEL NUMBER NEWIUSED LOCATION 124 DR2AEFi/1 YU1 A /3 YL12A GOLF See NEW GOLD MOUNTAIN GOLF CLUB Attachment 7263 W. BELFAIR VALLEY RD BREMERTON, WA 98310 ADDITIONAL CONDITIONS/SPECIAL TERMS: Please return this certificate as your acknowledgment of the above Commencement Date and acceptability of the Equipment. CITY OF BREMERTON as Lessee By: loll I Name: &Vd- Title: ENDORSEMENT # XXX This endorsement, effective 12:01 A.M., Forms a part of Policy No.: Issued to: By: LEXINGTON INSURANCE COMPANY ADDITIONAL INSURED REQUIRED BY WRITTEN CONTRACT This endorsement modifies insurance provided under the following: PUBLIC ENTITY SELECT RETAINED LIMIT LIABILITY POLICY A. SECTION IV. WHO IS AN INSURED is amended to include any person or organization that the insured organization is required to include as an additional insured on this policy by a written contract or written agreement in effect during this Policy Period and executed prior to the occurrence of the bodily injury or property damage. B. The insurance provided to the above described additional insured(s) under this endorsement is limited as follows: 1. Coverage provided to the additional insured(s) is only provided under Coverage A.1. and only provided for bodily injury or property damage arising out of the specific operations which are the subject of the written contract or written agreement and for bodily injury or property damage to which this insurance applies. No coverage shall be provided for personal and advertising injury. 2. In the event that the Limits of Insurance provided by this policy exceed the Limits of Insurance required by the written contract or written agreement, the insurance provided by this endorsement shall be limited to the Limits of Insurance required by the written contract or written agreement. This endorsement shall not increase the Limits of Insurance shown in the Declarations pertaining to the coverage provided herein. 3. If an insured has rights to recover all or part of any payment we have made under this policy against any person or organization and the insured organization has waived such rights as part of the written contract or written agreement prior to the occurrence, then we shall waive our right of subrogation against such person or organization, but only to the extent of the insured organization's waiver. 4. Unless the written contract or written agreement specifically requires that this insurance be primary and non-contributory, in which case this insurance shall be primary and non-contributory in excess of the retained limit, any coverage provided by this endorsement to an additional insured shall be excess over any other valid and collectible insurance available to the additional insured whether provided on a primary, excess, contingent or on any other basis and shall also be excess over the retained limit, unless such other insurance is specifically written to be excess of this policy. All other terms and conditions of the policy remain the same. Authorized Representative Manuscript Page 1 of 1 Page 1 of 2 CC)' r � -�►�► !2L� CERTIFICATE OF LIABILITY INSURANCE DATE(MM/DD/YYYY)02/11/2020 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER,AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED,the policy(ies)must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER CONTACT Willis Towers Watson Certificate Center NAME: Willis Towers Watson Insurance Services West, Inc. fka Willis of PHONE 1-877-945-7378 FAX 1-888-467-2378 Seattle, Inc. i/� .. (A/C.No.Ext): (A/C,No): c/o 26 Century Blvd RECEIVED E E-MAIL ADDRESS: certificates@willis.com P.O. Box 305191 INSURER(S)AFFORDING COVERAGE NAIC# Nashville, TN 372305191 USA VantaPro Specialty Insurance Company 44768 FEB 12 2020 INSURER B INSURED Hartford Fire Insurance Company 19682 City of Bremerton Attn: Nelisa Folmer INSURER C: 345 Sixth Street City of Bremerton INSURER D: Suite 100 Risk Management INSURER E: Bremerton, WA 983371873 USA INSURER F: COVERAGES CERTIFICATE NUMBER:W15435502 REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES.LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR ADDL SUBR POLICY EFF POLICY EXP LIMITS LTR TYPE OF INSURANCE INSD WVD POLICY NUMBER (MM/DD/YYYY) (MM/DD/YYYY) COMMERCIAL GENERAL LIABILITY EACH OCCURRENCE $ _ DAMAGE O CLAIMS-MADE OCCUR PREMISES(Ea occurrence) $ MED EXP(Any one person) $ PERSONAL&ADV INJURY $ GEN'L AGGREGATE LIMIT APPLIES PER: GENERAL AGGREGATE $ POLICY PROJECT LOC PRODUCTS-COMP/OPAGG $ OTHER: $ AUTOMOBILE LIABILITY COMBINED SINGLE LIMIT $ (Ea accident) ANY AUTO BODILY INJURY(Per person) $ OWNED SCHEDULED BODILY INJURY(Per accident) $ AUTOS ONLY AUTOS HIRED NON-OWNED PROPERTY DAMAGE $ AUTOS ONLY AUTOS ONLY (Per accident) UMBRELLALIAB X OCCUR EACH OCCURRENCE $ 10,000,000 A X EXCESSLIAB CLAIMS-MADE Y 5155-0013-00 02/01/2020 02/01/2021 AGGREGATE $ 10,000,000 DED X RETENTION$ 500,000 $ WORKERS COMPENSATION PER OTH- AND EMPLOYERS'LIABILITY Y/N STATUTE ER ANYPROPRIETOR/PARTN ER/EXECUTIVE N/A E.L.EACH ACCIDENT $ OFFICER/MEMBEREXCLUDED? (Mandatory in NH) E.L.DISEASE-EA EMPLOYEE $ If yes,describe under DESCRIPTION OF OPERATIONS below E.L.DISEASE-POLICY LIMIT $ B Value of Equipment 52UFJHC7428 12/31/2019 12/31/2020 Limit $654,000 Deductible - Per Occ. $25,000 DESCRIPTION OF OPERATIONS/LOCATIONS/VEHICLES (ACORD 101,Additional Remarks Schedule,may be attached if more space is required) Location: Gold Mountain Golf Club, 7263 W. Belfair Valley Rd, Bremerton, WA, 98312. RE: Lease # M19080459 124 DR2AEFI Golf Cars 1 YU1A Golf Car 3 YU2A Golf Cars CERTIFICATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. Yamaha Motor Finance Corporation, U.S.A. AUTHORIZED REPRESENTATIVE Attn: Leasing Department 6555 Katella Ave Cypress, CA 90630 ©1988-2016 ACORD CORPORATION. All rights reserved. ACORD 25(2016/03) The ACORD name and logo are registered marks of ACORD SR ID: 19246197 BATCH: 1572135 AGENCY CUSTOMER ID: _ LOC#: A E 3RIJ ADDITIONAL REMARKS SCHEDULE Page 2 of 2 AGENCY NAMED INSURED Willis Towers Watson Insurance Services West, Inc. fka Willis of Seattle, Inc. City of Bremerton Attn: Melisa Folmer POLICY NUMBER 345 Sixth Street See Page 1 Suite 100 Bremerton, WA 983371873 USA CARRIER NAIC CODE See Page 1 See Page 1 EFFECTIVE DATE: See Page 1 ADDITIONAL REMARKS THIS ADDITIONAL REMARKS FORM IS A SCHEDULE TO ACORD FORM, FORM NUMBER: 25 FORM TITLE: Certificate of Liability Insurance Equipment Covered: 124 DR2AEFI Golf Cars 1 YU1A Golf Car 3 YU2A Golf Cars Yamaha Motor Finance Corporation, U.S.A., its successors and assigns is included as an Additional Insured as respects to Excess Liability. Yamaha Motor Corporation, U.S.A. is included as Loss Payee as respects referenced equipment. • ACORD 101 (2008/01) ©2008 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD SR ID: 19246197 BATCH: 1572135 CERT: W15435502 Page 1 of 2 A ��p� DATE(MM/DD/YYYY) C CERTIFICATE OF LIABILITY INSURANCE 12/23/2019 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER,AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED,the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED,subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER r} "'• CONTACT Willis Towers Watson Certificate Center Willis of Seattle, Inc. ;� g{+ .- NAME: c/o 26 Century Blvd (A/C.No.Ext):PHONE 1-877-945-7378 FAX No): 1-888-467 2378 P.O. Box 305191 (�''}y[[''(('' n E-MAIL Nashville, TN 372305191 USA ilLl.r �O�J ADDRESS: certificates@willis.com INSURER(S)AFFORDING COVERAGE NAIC# INSURER A: Allied World Insurance Company 22730 INSURED City of Bremerton INSURER B: Hartford Fire Insurance Company 19682 City of Bremerton Risk Management Attn: Melisa Folmer INSURER C: 345 Sixth Street INSURER D Suite 100 Bremerton, WA 983371873 INSURER E: INSURER F: COVERAGES CERTIFICATE NUMBER:W14874745 REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES.LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. • LTRINSR TYPE OF INSURANCE INSD A DDL SWVD POLICY NUMBER UBR POLICY EFF POLICY EXP LIMITS (MM/DD/YYYY) (MM/DD/YYYY) COMMERCIAL GENERAL LIABILITY EACH OCCURRENCE $ CLAIMS-MADE OCCUR DAMAGE TO RENTED PREMISES(Ea occurrence) $ MED EXP(Any one person) $ PERSONAL&ADV INJURY $ GEN'L AGGREGATE LIMIT APPLIES PER: GENERAL AGGREGATE $ POLICY PRO- JECT LOC PRODUCTS-COMP/OP AGG $ OTHER: AUTOMOBILE LIABILITY COMBINED SINGLE LIMIT $ (Ea accident) ANY AUTO BODILY INJURY(Per person) $ OWNED SCHEDULED BODILY INJURY(Per accident) $ AUTOS ONLY AUTOS HIRED NON-OWNED PROPERTY DAMAGE $ AUTOS ONLY AUTOS ONLY (Per accident) UMBRELLA LIAB X OCCUR EACH OCCURRENCE $ 1,000,000 A X EXCESSLIAB CLAIMS-MADE Y 5110-0088-01 02/01/2019 02/01/2020 AGGREGATE $ 3,000,000 DED X RETENTION$ 500,000 $ WORKERS COMPENSATION PER OTH- AND EMPLOYERS'LIABILITY Y/N STATUTE ER ANYPROPRIETOR/PARTNER/EXECUTIVE E.L.EACH ACCIDENT $ OFFICER/MEMBEREXCLUDED? N/A (Mandatory in NH) E.L.DISEASE-EA EMPLOYEE $ If yes,describe under DESCRIPTION OF OPERATIONS below E.L.DISEASE-POLICY LIMIT $ B Value of Equipment 52UFJHC7428 12/31/2019 12/31/2020 Limit $654,000 Deductible - Per Occ. $25,000 DESCRIPTION OF OPERATIONS/LOCATIONS/VEHICLES (ACORD 101,Additional Remarks Schedule,may be attached if more space is required) Location: Gold Mountain Golf Club, 7263 W. Belfair Valley Rd, Bremerton, WA, 98312. RE: Lease # M19080459 124 DR2AEFI Golf Cars 1 YU1A Golf Car 3 YU2A Golf Cars CERTIFICATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. Yamaha Motor Finance Corporation, U.S.A. AUTHORIZED REPRESENTATIVE Attn: Leasing Department 6555 Katella Ave Cypress, CA 90630 ©1988-2016 ACORD CORPORATION. All rights reserved. ACORD 25(2016/03) The ACORD name and logo are registered marks of ACORD SR ID: 19008067 BATCH: 1503557 AGENCY CUSTOMER ID: LOC#: AR® ADDITIONAL REMARKS SCHEDULE Page 2 of 2 AGENCY NAMED INSURED Willis of Seattle, Inc. City of Bremerton Attn: Melisa Folmer POLICY NUMBER 345 Sixth Street See Page 1 Suite 100 Bremerton, WA 983371873 CARRIER NAIC CODE See Page 1 See Page 1 EFFECTIVE DATE: See Page 1 ADDITIONAL REMARKS THIS ADDITIONAL REMARKS FORM IS A SCHEDULE TO ACORD FORM, FORM NUMBER: 25 FORM TITLE: Certificate of Liability Insurance Equipment Covered: 124 DR2AEFI Golf Cars 1 YU1A Golf Car 3 YU2A Golf Cars Yamaha Motor Finance Corporation, U.S.A., its successors and assigns is included as an Additional Insured as respects to Excess Liability. Yamaha Motor Corporation, U.S.A. is included as Loss Payee as respects referenced equipment. ACORD 101 (2008/01) ©2008 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD SR ID: 19008067 BATCH: 1503557 CERT: W14874745