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B AYSTONE LESSEE. ctober 24, 2006 FORMAL PROPOSAL LAKE ELMO FIRE DEPARTMENT ✓ This is a finance/ownership lease. No residual value. ✓ Adjustable interest rate for the fi$een (15) year term ✓ Fixed interest rate for the ten (10) year, fifteen (15) year, and seven (7) year terms. FMIfi171T11a1�09 OPTION 1 Acquisition Cost: Down Payment: Trade In: Principal Balance: OPTION 2 Acquisition Cost: Down Payment: Trade In: Principal Balance: OPTION 3 Acquisition Cost Down Payment: Trade In: Principal Balance: OPTION 4 Acquisition Cost: Down Payment: Trade In: Principal Balance: OPTION 5 Acquisition Cost: Down Payment: Trade In: Principal Balance: OPTION 6 Acquisition Cost: Down Payment: Trade in: Principal Balance: OPTION 7 Acquisition Cost: Down Payment: Trade In: Principal Balance: OPTION 8 Acquisition Cost: Down-Psyment: Trade In: Principal Balance: ONE STRAIGHT STICK & AERIAL PLATFORM $445,000.00 Term: Seven (7) years First Payment Due: $0.00 Payment Mode: Annual Payment Amount: $0.00 Interest Rate: 4.550% $445,000.00 Rate Factor: 0.170184 ,1,2007 $445,000.00 Term: Ten (10) years First Payment Due: December 1, 2007 $0.00 Payment Mode: Annual Payment Amount: $56,433.2 $0.00 Interest Rate. 4.550% $445,000.00 Rate Factor: - 0.126819 $445,000.00 Term: Fifteen (15) years First Payment Due: December 1, 2007 $0.00 Payment Mode: Annual Payment Amount: $42,62919 $0.00 Interest Rate: 4.900% $445,000.00 Rate Factor: 0.095796 $445,000.00 Term: *Fifteen (15) years First Payment Due: December 1, 2007 $0.00 Payment Mode: Annual Payment Amount: 542,051 23 $0.00 Interest Rate: 4.700% $445,000.00 Rate Factor: 0.094497 $610,000.00 Term: Seven (7) years First Payment Due: December 1, 2007 $0.00 Payment Mode: Annual Payment Amount: $103,621�41 $0.00 Interest Rate: 4.500% 5610,000.00 Rate Factor: 0.169871 $610,000.00 Term: Ten (10) years First Payment Due: Decemb�r 1, 2007 $0.00 Payment Mode: Annual Payment Amount: $77,168. 7 $0.00 Interest Rate: 4.500% $610,000.00 Rate Factor: - : 0.126505 $610,000.00 Term: Fifteen (15) years First Payment Due: December 1, 2007 $0.00 Payment Mode: Annual Payment Amount: $58,4359 $0.00 Interest Rate: 4.900% $610,000.00 Rate Factor: 0.095796 $610,000.00 Term: *Fifteen (15) years First Payment Due: Decemb�r 1, 2007 50 00 Payment Mode: Annual Payment Amount: $57,643.26 $0.00 Interest Rate: 4.700% $610,000.00 Rate Factor: 0.094497 0 *5 year fixed rate. After the 5' and 10a' years, at the sole discretion of the Lessor, payments can be adjusted based on the Index and will remain fixed for the remaining payments. * To lock in the Lessee's rate for the term of the loan, Baystone Financial Group will establish a Vendor Payable Account (� Maturity on behalf of the