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Mar-26-98 12 : 37PP.01 <br /> o <br /> Post-It'Fax Note 7671 Date pegMl _14:s* -i <br /> To Y1 Fr.—FT-1.u, — ( <br /> CoJDePtf ' rte► y kCo. Q L,...... ` . <br /> Pron;M 717 — NVK ( Phoneu 333 '3 �'7 <br /> Ei Fax r 7„Y • <br /> — 3 c1G Z Fax R 33 3 — S'To 3 Ainsidaan Equipment Leeeing <br /> FINANCING PROPOSAL. 5 Cor ResCPA 1Dive <br /> 0 A704 <br /> TO: Cushman Motor Co., Inc. �� , <br /> DATED: 3125198 FAX 5510)77546 03 <br /> ate lite: <br /> rittp://www.iete3Se-com <br /> Thank you for the opportunity to propose the following equipment leasing 'oat nserketeselease.can <br /> solution for Cushman Motor Co.. Inc.. All of us at American Equipment <br /> Leasing (AEL) appreciate this opportunity to earn your business. <br /> Equipment Type: Turf Equipment <br /> Total Invoice Price From Suppliers: $32,700.00 <br /> Base Term: 36 Months <br /> Municipal A.P.R.: 6.58% <br /> (36) Level Monthly Payments of: $998.00 <br /> Base Term Rent The Initial term of the lease is 36 months. Each lease payment is equal to <br /> .03052% (lease factor) of the total invoice price(s)from supplier(s). The initial number of payments <br /> is 36. All tease payments quoted are net of all applicable taxes, maintenance and insurance. <br /> Supplier Payment Process: AEL will pay your selected supplier(s)upon your acceptance of the <br /> leased property, and your authorization, under the terms of the supplier(s)invoice. <br /> 010 <br /> Due at Signing: When AEL prepares and provides dosingdocuments, a check in the <br /> aunt of$1,148.00 Is required. This will be applied as first monthy rental and documentation fee. <br /> 0.00 Lease Termination: Upon expiration of the original document, and providing all terms have <br /> been met,you will purchase the leased assets for$100.00. <br /> Payment lnformation_ Payments are monthly and in advance unless othe.wise noted, and are net of <br /> applicable taxes, insurance and any other sums you may be responsible for under the terms of the <br /> lease. At the time of this proposal. the full-life U.S.Treasury Note is 5.55%. If the full-life U.S. <br /> Treasury Note has increased at the time the tease is commenced,the lease payment offered in this <br /> proposal will increase on a pro-rata basis. <br /> Documentation Fee: $150.00 <br /> Good Faith Proposal Only: Please note that this is a proposal only and represents a preliminary description <br /> of the possible terms of a future transaction. This proposai cannot define all of the possible terms and conditions <br /> of the proposed transaction. AEL's acceptance of any deposit is not intended to be a commitment to enter into a <br /> lease, nor is it intended to obligate AEL to you in any way. <br /> AEI.has not yet sought the Internal credit approval to finalize this lease offering. This approval would be subject <br /> to AEL's Mute due diligence,analysis and consideration. The proposed terms and conditions listed here must be <br /> approved by AEL's internal credit group,at which point,execution and delivery of documentation satisfactory in <br /> form and substance to AEL would follow. Also, the terms of this proposal may be m;oditied during this credit <br /> review process and/or AEL maydecide to dedins the application. <br /> Sin erely, <br /> y A. Murray <br /> Nionai Sales Representative <br /> EL Golf Division <br /> 800-235-7368 ext. 294 <br />