PNC Lease 198002000 - 73 Golf CartsRental Schedule Number 198002000
This Rental Schedule dated and effective as of May 19, 2016 Is attached to and governed by the terms and provisions of the Master Lease Agreement dated
Febwary 5, 2010 (- Lease' by and between PNC Equipment Finance, LLC ("Lessor) and Professional Course Management II. Inc. dbe Miami Shores Country
Club (9-rxss as j
All capitalized terms used herein that are defined in the Lease shalt have the same meaning herein
1. The Equipment teased hereunder Is as follows
Ouanlity description Serial No.
T3 EZGo TXT 48V Electric Coif Cars
together with all attachments. looling, accessories and additions thereto
Lease Terms:
Initial Terra: 48 months
Rental Commencement Data: 20[Far Offrx Use Qrmly}
Rent: See Payment Schedule
Advance Payment: Doc menetation Fee
Equipment Location: 100011 Biscayne Blvd., Miami Shores, FL 33138
2. The Initial Term of the lease of the Equipment shall commence upon the Acceptance Date as Indicated on the Certificate of Acceptance (the "Lease
Commencement Date') and shall continue until expiration of the number of payment periods specified above after the Rental Commencement Date. which shall
be the first day of the first calendar month following the Lease Commencement Date or any later date selected by Lessor. Lessee hereby authorizes Lessor to
Insert the Rental Commencement Date upon Its recelpt of the Certificate of Acceptance Lessee also authorizes Lessor, upon wrillen notice to Lessee, to ad)ust
the monthly payment amount when the appropriate taxes are determined by Lessor of such taxes are included in the monthly payment amount) and to Insert any
other missing or Incorrect information In this Rental Schedule such as any variations to the Equipment description. Rent in the amount specified above, plus
applicable taxes. shall be due on the Rental Commencement Dale and on the same day of each and every consecutive payment period thereafter for the Initial
Term. All Rent shall be due and payable to Lessor at such place as Lessor shall designate In writing. Additionally. Lessee shall pay, as interim rent. due and
payable monthly In arrears, for the period from and including the Lease Commencement Date to and including the day immediately preceding the Rental
Commencement hate. The daily rent will be calculated on a 360 -day year.
3 End of Term Options, fam,,:thstanding anything ca, ,to',ned in the Lease to the contrary, so long ;2- no default shall have occurred and be continuing. Lessee
may, at Lessee's option, (I) purchase the Equipment leased pursuant to this Rental Schedule on an -as is, where is" basis, without representation or warranty.
express or implied, at the end of the Initial Term at a price equal to the Fair Market Value thereof, plus applicable taxes, or (ii) extend the term of the Initial Term
with respect to the Equipment leased pursuant to this Rental Schedule for the Fair Markel Rental. plus applicable taxes, and for a period of time mutually
agreeable to Lessor and Lessee. "Fair Market Rental" shall be equal to the monthly rental that could be obtained In an arms - length transaction between an
Informed and willing lessee and an Informed and wi49ng lessor under no compulsion to lease. 'Fair Market Value shall be equal to the value which would be
obtained in an arms4ength transaction between an informed and willing buyer and an informed and willing seller under no compulsion to sell, and In such
delemtination, casts of removal of the Equipment from its location of current use shall not be a deduction from such value If lessee and Lessor cannot agree on
the Fair Market Value thereof, such value Shan be determined by appraisal at the sole expense of Lessee. Appraisal shall be a procedure whereby two
recognized independent appraisers, one chosen by Lessee and one by Lessor, shall mutually agree upon the amount In question. If the appraisers are unable to
agree upon the amount in question, a third recognized independent appraiser's evaluation shall be bending and conclusive on Lessee and Lessor. This purchase
or extension option as applicable shall only be available If Lessee gives Lessor ninety days prior written notice of Lessee's Irrevocable intent to exercise such
option and Lessor and Lessee shall have agreed to all terms and Conditions of such purchase or extension prior to the expiration date of the Initial Term All
options awarded to Lessee shall apply to all. but not less than al, of the Equipment leased under this Rental Schedule.
4, Stipulated Loss Value, The -Stipulated Low Value' for particular Equipment shall be an amount equal to; Q) the total of all unpaid Rent and any other
amounts, if arty, due with respect to such Equipment as of the date of the toss or event of default. plus (ii) the present value of all future Rent with respect to such
Equipment discounted at 2%, plus (tin the Equipment's anticipated residual value, as determined by Lessor's books at the commencement of the Lease.
S. This Rental Schedule may be signed in any number of counterparts. Lessee agrees that a facsimile or scanned copy of this Rental Schedule with facsimiie
or scanned signatures may be treated as an original and will be admissible as evidence of this Rental Schedule.
IN WITNESS WHEREOF, the parties hereto have caused this Rental Schedule to fig duly executed on the date sot forth below by their authorized
representatives.
THIS RENTAL SCHEDULE CANNOT BE CANCELLED
Lessee. rrofes§lonal Course Management II, Inc. Lessor: PNC Equipment Finance, LLC
dba MiamilShoreb Country Club
Signature: 5lgnatum:
X r X W � U,(TUN�i )
Print Name: I Print Name: r
ahziriGL INA.0 " - ffi-fl s. _
Title ,� r +_ Tina:
ll [ (� 4ri ' P jj
Date: ±j I tab « pate: ��� .i I,
4115 SE Rental Schedule FMV (Csm)
Rental Schedule Number 198002000
In compliance Wth the terms, conditions and provisions or the Master Lease Agreement dated February S, 2010 (" Lease") by and between the undersigned
( "Lessee") and PNC Equipment Finance, LLC ("Lesson, Lessee herby:
(a) certifies and warrants that aA Equipment descnbed in the above - referenced Rental Schedule (the "Equipment) is delivered Inspected and fully installed,
and operational as of the Acceptance Date as indicated below; and rr
(b) accepts all the Equipment for all purposes under the Lease and all attendant documents as of this J day of J L , 20 i('Acceptance Date'],
and 7r
(c) restates and raffimrs, as of such Acceptance Date, each of the representations, warranties and covenants hertafore given to Lessor in the Lease.
Lessor Is hereby authorized to Insert serial numbers on the dental Schedule.
Lessee: ofessional Course Management II, Inc. dba
Miami S o s Ca4n Club
Signature
X A '
Print Nam
UI1 M'-A� S orn Zi c_^i
Title: r e s ICA l _
Data:
4118 SE Renial Schedule FUV (Cam)
Lease Number 998002000
Year
Jan
Feb
May
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
201 t€
25.564 50
ss sa4 so
$5 534 50
55 584 50
ss.um so
2017
25.584 so
15 :,84 sD
55564 50
3558450
35 564 s0
55, $04 So
SS 584 50
5510:$.50
15 EM 50
S" W" 0
25.&}7 s0
S5 507 50
2018_
$580350
25 am 50
35 am so
ss am s0
25.60350
is, am so
$s a03 50
So= s0
sa.o22 so
56,2250
56.02250
56 02236
. _ 2019
S6.UU 50
26 023 S0
56.022 50
56.022 50
36 M2.50
56.OS2 50
26 02250
s6 341.50
sa.241 So
58,24150
56.24150
$64150
2020
3524150
$6,24150
$6.24150
5624110
$624150
66,241,50
$674150
Ris apprc&e taxes. Payment on invoice could be diffenenl based an appr aWy of sales and use tax.
This Payment Schedule and its terms and conditions are hereby Incorporated by reference into thv Lease identified above
Lessee: Professional Course Ma.-tagement 11, Inc. dba Lessor. PNC Equipment Finance, LLC
Miami Shores ountry Club
Signature: 5ianatura: I 1 _ 1
Title:
Date:
--j
Mftn '0
X "
Print Name: NVxolly Y Ifiams
Title: I AV i
Date: 1 f
PNC Equipment Finance, LLC
995 Dalton Avenue a Cirinnati, OH 452D3
9uesUons, call: (800) 559 -2755
FAX: (888) 888 -3695
10►t5 SE Payment 5chedLoe
iAk
vz,ey, PNC
EQUIPMENT FINANCE
Addendum To Master Lease Agreement
This Addendum to Master Lease Agreement dated as of May 19, 2096, is made to that certain
Master Lease Agreement dated February 5, 2010, (the 'Master ,Lease Agreement") entered into
between PNC Equipment Finance, LLC, a Delaware limited liability company ( "Lessor"), with an office
located at 995 Dalton Avenue, Cincinnati, Ohio 45203, and Professional Course Management 11, Inc.
dba Miami Shores Country Club, with its principal office located at 10000 Biscayne Blvd. , Miami
Shores, FL 33138 ("Lessee ").
PrgIimina0jjLLtgment
Lessor and Lessee agree to include an Anti -Money Laundering/International Trade Law Compliance
provision and USA PATRIOT Act Notice provision in the Master Lease Agreement
Agreement.
In consideration of the foregoing it is agreed that the Master Lease Agreement is amended as follows:
1. Anti -Money Lau nderinalintemational Trade t,aw gomeliance and USA PATRIOT Act Notice.
The Master Lease Agreement is amended by adding the following provisions as sections 25 and 26:
"25, 4Ni1 -MONEY LAUNDERING/INTERNATIONAL TRADE LAW COMPLIANCE. Lessee
represents and warrants to Lessor, as of the date of this Master Lease Agreement, the date of each
advance of proceeds pursuant to this Master Lease Agreement, the date of any renewal, extension
or modification of this Master Lease Agreement or any Lease, and at all times until this Master
Lease Agreement and each Lease has been terminated and all amounts thereunder have been
indefeasibly paid in full, that (a) no Covered Entity (i) is a Sanctioned Person; (ii) has any of its
assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person; or
(iii) does business in or with, or derives any of its operating income from investments in or
transactions with, any Sanctioned Country or Sanctioned Person in violation of any law, regulation,
order or directive enforced by any Compliance Authority; (b) the proceeds of any Lease will not be
used to fond any operations In, finance any investments or activities in, or, make any payments to, a
Sanctioned Country or Sanctioned Person in violation of any law, regulation, order or directive
enforced by any Compliance Authority; (c) the funds used to repay any Lease are not derived from
any unlawful activity; and (d) each Covered Entity is in compliance with, and no Covered Entity
engages In any dealings or transactions prohibited by, any laws of the United States, including but
not limited to any Anti - Terrorism Laws. Lessee covenants and agrees that it shall immediately notify
Lessor in writing upon the occurrence of a Reportable Compliance Event.
As used herein: "Anti - Terrorism Laws" means any laws relating to terrorism, trade sanctions
programs and embargoes, importlexport licensing, money laundering, or bribery, all as amended,
supplemented or replaced from time to time; "Compliance Authority' means each and all of the (a)
U.S. Treasury Department/Office of Foreign Assets Control, (b) U.S. Treasury Department/Financial
Crimes Enforcement Network, (c) U.S. State DepartmenMrectorate of Defense Trade Controls, (d)
U.S. Commerce DepartmentJBureau of Industry and Security, (e) U.S. Internal Revenue Service, (f)
U.S. Justice Department, and (g) U.S. Securities and Exchange Commission; 'Covered Entity'
means Lessee, its affiliates and subsidiaries, all guarantors, pledgors of collateral, all owners of the
foregoing, and all brokers or other agents of Lessee acting in any capacity in connection with this
Master Lease Agreement or any Lease;
10115 SE Addendum AAA!. Provision
'Reportable Compliance Event' means that any Covered Entity becomes a Sanctioned Person, or is
indicted, arraigned, investigated or custodially detained, or receives an inquiry from regulatory or law
enforcement officials, in connection with any Anti - Terrorism Law or any predicate crime to any Anti-
Terrorism Law, or self- discovers facts or circumstances implicating any aspect of its operations with
the actual or possible violation of any Anti-Terrorism Law, "Sanctioned Country" means a country
subject to a sanctions program maintained by any Compliance Authority; and 'Sanctioned Person'
means any individual person, group, regime, entity or thing fisted or otherwise recognized as a
specialty designated, prohibited, sanctioned or debarred person or entity, or subject to any
limitations or prohibitions (including but not limited to the blocking of property or rejection of
transactions), under any order or directive of any Compliance Authority or otherwise subject to, or
specially designated under, any sanctions program maintained by any Compliance Authority.
26, USA PATRIOT ACT NOTICE. To help the government fight the funding of terrorism and money
laundering activities, Federal law requires all financial institutions to obtain, verify and record
Information that identifies each lessee that opens an account! What this means: when Lessee opens
an account, Lessor will ask for the business name, business address, taxpayer identifying number and
other information that will allow Lessor to identify Lessee, such as organizational documents. For
some businesses and organizations, Lessor may also need to ask for identifying information and
documentation relating to certain individuals associated with the business or organization."
2. Reaffirmation. Except as otherwise provided herein. the remaining terms and provisions of the
Master Lease Agreement are hereby ratified and reaffianed.
The foregoing Addendum has been duly executed by the authorized officers of the undersigned as of the
day and year first above set forth.
Professional ourse 11janagement 11, Inc. dba Miami Shores Country Club
�J t
Signature:
Pant Name: Dhnni La Vonz in&
Title: Pvt5ldt° i4-
Date: 5 023 ila
PNC Equipment Fin nce, LLC
Signature: `J�� � S� J /a� L6��[i
Print Name: UNIV vjiklt.
Title: II AVP
Date:
cnpNc
EQUIPMENT FINANCE
May 19, 201 b
Professional Course Management 11, Inc.
10000 Biscayne Blvd.
Miami Shores, FL 33138
RE: Addendum to Master Lease Agreement
Dear Professional Course Management 11, Inc.:
Please find enclosed an Addendum to the Master Lease Agreement (the
"Agreement") between Professional Course Management 11, Inc. and PNC Equipment
Finance, LLC ( "PNCEF "), which adds an Anti -Money Laundering/International Trade
Law Compliance provision and a USA PATRIOT Act Notice provision to the
Agreement. As a wholly -owned subsidiary of PNC Bank, N.A., PNCEF takes its role in
helping the government fight the funding of terrorism and money laundering activities
very seriously and the additional language being added to the Agreement is one example
of the efforts that PNCEF is taking to detect and prevent unlawful activity. The
Addendum is a part of your document package and must be signed by an authorized
representative of Professional Course Management 11, Inc. and delivered to PNCEF along
with the new Rental Schedule to the Agreement.
PNC Equipment Finance, LLC
IWIS SE AML Lester