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40 <br />4 <br />. ,,V <br />LEASE -PURCHASE AGREEMENT <br />LESSOR: Commmerciai & Municipal Capital, LLC <br />1304 DeSato Ave., Suite 304 <br />Tampa, FL 33606.3138 <br />LESSEE: Indian River County Board of County Commissioners <br />1840 25th Street <br />Vero Beach, FL 32960 <br />FLA DOC <br />This Lease -Purchase Agreement (the "Agreement"), dated as of February I, 1999, by and between <br />Commercial & Municipal Capital, LLC ("Lessor"), and Indian River County Board of County <br />Commissioners ("Ussee"), a body corporate and politic duly organized and existing under the laws of the <br />State of Florida ("State"); <br />WITNESSETH: <br />WHEREAS, Lessor desires to lease the Equipment, as hereinafter defined, to Lessee, and Lessee <br />desires to lease the Equipment fram Lessor, subject to the terns and conditions of and for the purposes set <br />forth in this Agreement; and <br />WHEREAS, Lessee is authorized under the Constitution and laws of the State to enter into this <br />Agreement for the purposes set forth herein; <br />NOW, THEREFORE, for and in consideration of the premises hereinafter contained, the parties <br />hereby agree as follows: <br />ARTICLE I <br />COVENANTS OF LESSEE <br />Section 1.41 Lessee represents, covenants and warrants, for the benefit of Lessor and its assignees, as <br />follows. <br />(a) Lessee is a public body, corporate and politic, duly organized and existing under the Constitution <br />and laws of the State. <br />(b) Lessee will do or cause to be done all things necessary to preserve and keep in full force and ctlect <br />its existence as a body, corporate and politic. <br />(c) Lessee is authorized iutder the Constitution and laws uf [he State to enter into this Agtectncnt and <br />the transaction contemplated hereby, and to perform all of its obligations hereunder_ <br />(d) Lessee has been duly authorized to execute and deliver this Agreement under the terms and <br />provisions of the resolution of its governing body, attached hereto as Exhibit A, or by other appronriate <br />official approval, and further represents. covenants and warrants that all rcgt.irements have been met, and <br />procedures ha­� occurred in order to ensure she enforceability of this Agreement, and Lessee has complied <br />with such public bidding requirements as may be applicable to this Agreement and the acquisition by Lessee <br />of the Equipment hereunder. Lessee shall cause to be executed an opinion of its counsel substantially in the <br />finnn attached hereto as Exhibit B. <br />rtA oac <br />19 <br />99-041 <br />