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2019 Landmark Golf Management - Lease with "John Deere"RE CEIVED „DpC7000 LIREvi.sio D9t September 201 THE TERMS OF THIS CONTRACT ARE CONTAINED ON MORE THAN ONE PAGE Settlement Nbr. 12982985 Application ID: 12982985 Equipment Type. Golf Commercial Version Number 25 11/26/2019 11:56 AM Page 1 of 6 JOHN DEERE FINANCIAL Application ID:12982985 Version Number: 25 Golf Business or Commercial Use LEASE AGREEMENT LESSEEISAAME ANaPHYSICAL ADDRESS LANDMARK GOLF MANAGEMENT, LLC 79179 AHMANSON LN LA QUINTA, CA 92253-5715 LESSEE'S TAX ID NUMBER "-***6865 LESSEE'S PHONE NO. 760 -776-6686 TYPE OF BUSINESS Limited Liability Company LESSEE RESIDES IN (County/State) RIVERSIDE, CA LESSEE AGREES TO KEEP GOODS IN (County/State) See Equipment Location and County for each Item of Equipment below NAME AND TITLE OF SIGNING OFFICER ANDY VOSSLER - President LESSOR'S NAME AND ADDRESS Deere Credit, Inc. P.O. Box 6600 Johnston, IA 50131-2945 PHONE NUMBER 888-777-2560 This Lease Agreement ("Lease Agreement") is entered into between Deere Credit, Inc., as Lessor ("we", "us" or "our"), and the Lessee and any Co-Lessee identified above ("you" or "your"). Each Lessee and Co-Lessee shall be jointly and severally liable for all obligations under this Lease Agreement. EQUIPMENT LEASED Year Manufacturer Equipment Description Engine Hour Limit Per Year Excess Hour Charge Equipment Location County Outside City Limits 2019 JOHN DEERE 7700A PRECISIONCUT FAIRWAY 600 $10.00 LA QUINTA, CA RIVERSIDE No ADDITIONAL DETAILS Product ID Engine Hour Meter Asset Level Payment* 1TC770AVLKR065121 0 $941 38 1TC770AVAKR056022 0 $941 38 1TC770AVLKR065037 0 $941.38 1TC770AVEKR065008 0 $941.38 Year Manufacturer Equipment Description Engine Hour Limit Per Year Excess Hour Charge Equipment Location County Outside City Limits 2019 JOHN DEERE TURF GATOR 600 $15.00 LA QUINTA, CA RWERSIDE No ADDITIONAL DETAILS Product ID Engine Hour Meter Asset Level Payment* 1MOTURFJKKM140987 0 $131.23 1MOTURFJHKM141288 0 $131 23 1MOTURFJKKM141282 0 $131 23 1MOTURFJCKM141284 0 $131.23 1MOTURFJTKM141294 0 $131 23 1MOTURFJCKM141298 0 $131 23 iii in iii ri 111 Product ID Engine Asset Hour Meter Level Payment* 1MOTURFJKKM141296 0 $131 23 Year Manufacturer Equipment Description Engine Hour Limit Per Year Excess Hour Charge Equipment Location County Outside City Limits 2019 JOHN DEERE 26536 PRECISIONCUT 600 $10.00 LA QUINTA, CA RIVERSIDE No ADDITIONAL DETAILS Product ID Hour Meter Engine Asset Level Payment* 1TC2653TCKT120283 0 $507.34 1TC2653TEKT120274 0 $507 34 Year Manufacturer Equipment Description Engine Hour Limit Per Year Excess Hour Charge Equipment Location County Outside City Limits 2019 JOHN DEERE 9009A TERRAINCUT4VVD T4 MOWER 600 $1000 LA QUINTA, CA RIVERSIDE No ADDITIONAl DETAII S Product ID Engine Hour Meter Asset Level Payment* 1TC9009AJKV045077 0 $1,041.84 Year Manufacturer Equipment Description Engine Hour Limit Per Year Excess Hour Charge Equipment Location County Outside City Limits 2019 JOHN DEERE PROGATOR 2020A GAS 600 $15.00 LA QUINTA, CA RIVERSIDE No ADDITIONAL DETAILS Product ID ine E ng Meter Hour Asset Level Payment* 1TC202ATCKY110493 0 $407 97 1TC202ATKKT110451 0 $407 97 Year Manufacturer Equipment Description Engine Hour Limit Per Year Excess Hour Charge Equipment Location County Outside City Limits 2019 JOHN DEERE AERCORE 800 AERATOR 600 $25.00 LA QUINTA. CA RIVERSIDE No ADDITIONAL DETAILS Product ID Hour Meter Engine Asset Level Payment* 1 TC800ACPJT 120053 0 $395.66 Year Manufacturer Equipment Description Engine Hour Limit Per Year Excess Hour Charge Equipment Location County Outside City Limits 2019 JOHN DEERE 1200A BUNKER & FIELD VEHICLE 600 $15.00 LA QUINTA, CA RIVERSIDE No ADDITIONAL DETAILS Product ID Hour Meter Engine Asset Level Payment* 1TC1200AEKT250455 0 $229.83 RECEIVED DEC 0 9201 THE TERMS OF THIS CONTRACT ARE CONTAINED ON MORE THAN ONE PAGE Settlement Nbr. 12982985 Equipment Type Golf Commercial DOC7000 Application ID: 12982985 Version Number 25 11/26/2019 11:56 AM Page 2 of 6 Revision Date: 22 September 2019 1111 111111 1111111111111111111111111111111111111 11111111111 iii II IY Year Manufacturer Equipment Description Engine Hour Limit Per Year Excess Hour Charge Equipment Location County Outside City Limits 2018 CLUB CAR TRANSPORTER Utility Vehicles 0 00 00 LA OUINTA. CA RIVrRSIDF No ADDITIONAL DETAILS Product ID Engine Hour Meter Asset Level Payment* JE1617-640548 0 $221 85 *Asset Level Payments may not include applicable sales taxes. For purposes of this Lease Agreement, "Lease Payments means the Lease Payment as identified below. LEASE PAYMENTS LEASE TERM START DATE: December 1, 2019 LEASE TERM END DATE: December 1, 2024 The first Lease Payment Due Date is December 1, 2019 and each successive Lease Payment is due on the same day of the Month thereafter, (the "Billing Period"), unless otherwise provided below NUMBER OF PAYMENTS AGGREGATE OF ASSET LEVEL PAYMENTS SALES/USE TAX PROPERTY TAX LEASE PAYMENT DUE DATE 60 $8,403.93 $767.35 $365.77 $9,537.05 December 01, 2019 TERMS AND CONDITIONS 1. Lease Term: Payments. You agree to lease from us the Equipment described in this Lease Agreement for the Lease Term. The Lease Term will begin on the Lease Term Start Date and end on the Lease Term End Date. All attachments and accessories itemized in this Lease Agreement and all replacements, parts and repairs to the Equipment shall form part of the Equipment. This Lease Agreement is not accepted by us until we sign it. even if you have made a payment to us. You agree to remit the Lease Payments each Billing Period and all other amounts (including applicable sales, use and property taxes) when due to: DEERE CREDIT, INC.. P.O. Box 4450, Carol Stream, IL 60197-4450, even if we do not send you a bill or an invoice. YOUR PAYMENT OBLIGATIONS ARE ABSOLUTE, UNCONDITIONAL, AND ARE NOT SUBJECT TO CANCELLATION, REDUCTION OR SETOFF FOR ANY REASON WHATSOEVER. For any payment which is not received by its due date, you agree to pay a late charge equal to 4.000% of the past due amount (not to exceed the maximum amount permitted by law) as reasonable collection costs. plus interest from the due date until paid at a rate of 1.5% per month, but in no event more than the maximum lawful rate. Restrictive endorsements on checks you send us will not change or reduce your obligations to us. If a payment is returned to us by the bank for any reason. you agree to pay us a fee of $25.00 or the maximum amount permitted by law. whichever is less. Lease Payments and other payments may be applied, at our discretion, to any obligation you may have to us or any of our affiliates. If the total of all payments made during the Lease Term exceeds the total of all amounts due under this Lease Agreement by less than $25.00 we may retain such excess. Lease Payments may be based on the assumption that we will be entitled to certain tax benefits as the owner of the Equipment. If you take or fail to take any action that results in a loss of such tax benefits, you will pay us, on demand, the amount we calculate as the value of such lost tax benefits. You certify that the engine hour meter reading on each Item of Equipment is accurate as of the date you sign this Lease Agreement. If you use any Equipment during the Lease Term for more than the Engine Hour Limit indicated above for that Item of Equipment, you will pay to us within 10 days of the Lease Term End Date (or any earlier termination of this Lease Agreement) an amount equal to the Excess Hour Charge for that Item of Equipment for each engine hour in excess of the Engine Hour Limit. If this Lease Agreement is terminated, canceled or extended for any reason, the Engine Hour Limit will be prorated by us in our sole discretion. 2. Security Deposit. If a Security Deposit is indicated in the Advance Lease Payment Invoice, the Security Deposit will be held by us in a non-interest-bearing account commingled with other funds. We may apply the Security Deposit to any amounts due under this Lease Agreement and, if we do so, you agree to promptly remit to us the amount necessary to restore the Security Deposit to the original amount. The Security Deposit will be returned to you within 30 days of termination of this Lease Agreement and final inspection by us provided you are not in default. 3. Taxes. You agree to pay us when invoiced all sales, use, rental, gross receipts and all other taxes which may be imposed on the Equipment or its use. You agree, at our discretion, to either (a) reimburse us annually for all taxes and governmental charges associated with the ownership, use or possession of the Equipment including. but not limited to, personal property and ad valorem taxes ("Property Taxes"). or (b) remit to us each Billing Period our estimate of the pro-rated equivalent of such Property Taxes. If the estimated Property faxes paid by you are greater than or less than the Property Taxes paid by us, no adjustment will be made. Taxes do not include those measured by our net income If applicable law requires tax returns or reports to be filed by you, you agree to promptly file such tax returns and reports and deliver copies to us. You agree to keep and make available to us all tax returns and reports for taxes paid by you. 4. Ownership: Missing Information. We are the owner of the Equipment and you have the right to use the Equipment under the terms of this Lease Agreement. In the event this Lease Agreement is deemed to be a secured transaction and not a lease, you (a) grant us and our affiliates a security interest in the Equipment (and all proceeds) to secure all of your obligations under this Lease Agreement and any other obligations which you may have to us or any of our affiliates; and (b) authorize us to file financing statements naming you as debtor. You agree to keep the Equipment free and clear of liens and encumbrances, except those in our favor. and promptly notify us if a lien or encumbrance is placed or threatened against the Equipment. You irrevocably authorize us. at any time, to (a) insert or correct information on this Lease Agreement, including your correct legal name, serial numbers and equipment descriptions; (b) submit notite vE D and proofs of loss for any required insurance; and (c) endorse your name on remittances for insurance and Equipment sale or lea'st proceeds. THE TERMS OF THIS CONTRACT ARE CONTAINED ON MORE THAN ONE PAGE DEC 0 92019 Settlement Nbr 12982985 Equipment Type Golf Commercial DOC7000 Application ID 12982985 Version Number 25 11/26/2019 11 56 AM Page 3 of 6 Revision Date. 22 September 20 1111111 11111111111111111 IIN III 5. Equipment Maintenance. Operation and Use. You agree to (a) USE THE EQUIPMENT ONLY FOR AGRICULTURAL, BUSINESS OR COMMERCIAL PURPOSES AND NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES; (b) not permanently move the Equipment to another county or state without notifying us within 30 days; (c) operate and maintain the Equipment in accordance with all (i) laws, ordinances and regulations, (ii) manuals and other instructions issued by the manufacturer(s) and supplier(s), and (iii) insurance policy terms and requirements; (d) perform (at your own expense) all maintenance and repairs necessary to keep the Equipment in as good a condition as when delivered to you, reasonable wear excepted; (e) not install or use any accessory or device on the Equipment which may damage or otherwise negatively affect the value, manufacturer warranty coverage, useful life or the originally intended function or use of the Equipment in any way; (f) remove any non-financed accessory or device which is not otherwise prohibited under subsection (e) above before lease expiration or earlier termination without damaging the Equipment; (g) allow us and our agent(s) to inspect the Equipment and all of your records related to its use, maintenance and repair at any reasonable time; (h) keep any metering device installed on the Equipment connected and in good working condition at all times; (i) affix and maintain, in a prominent place on the Equipment, any labels, plates or other markings we may provide to you; and (j) not permit the Equipment to be used by, or to be in the possession of, anyone other than you or your employees. 6. Insurance. You agree, at your cost, to (a) keep the Equipment insured against all risks of physical damage for no less than its Termination Value (as such term is defined in Section 7 below), naming us (and our successors and assigns) as sole loss payee; and (b) maintain public liability insurance, covering personal injury and property damage for not less than $1,000,000 per occurrence, naming us (and our successors and assigns) as additional insured. All insurance must be with companies and policies acceptable to us. Your obligation to insure the Equipment continues until you return the Equipment to us and we accept it. Each insurance policy must provide that (a) our interest in the policy will not be invalidated by any act, omission, breach or neglect of anyone other than us; and (b) the insurer will give us at least 30 days' prior written notice before any cancellation of, or material change to, the policy. Unless you provide us with evidence of the required insurance coverages, we may purchase insurance, at your expense, to protect our interests in the Equipment. This insurance may not (a) protect your interests; or (b) pay any claim that you make or any claim that is made against you in connection with the Equipment. You may later cancel any insurance purchased by us, but only after providing us with evidence that you have obtained the insurance required by this Lease Agreement. The cost of the insurance may be more than the cost of insurance you may be able to obtain on your own. 7. Loss or Damage. Until the Equipment is returned to us in satisfactory condition, you are responsible for all risk of loss, damage, theft, destruction or seizure of the Equipment (an "Event of Loss"). You must promptly notify us of any Event of Loss. If the Equipment can be repaired or replaced, you agree to promptly repair or replace the Equipment, at your cost, and the terms of this Lease Agreement will continue to apply. If the Equipment cannot be repaired or replaced, you agree to pay us, within 10 days of the Event of Loss, its Termination Value as of the day before such Event of Loss occurred. Upon receipt of the Termination Value, we will transfer to you (or the insurance company) all of our rights, title and interest in such Item(s) of Equipment (each, an "Item of Equipment") AS-IS, WHERE- IS, WITHOUT ANY WARRANTY AS TO CONDITION OR VALUE. All insurance proceeds must be paid directly to us, and we may apply any excess insurance proceeds to any other amounts you owe us or any of our affiliates. "Termination Value" for any Item of Equipment shall be the net book value calculated as the sum of (a) all Lease Payments and any other amounts then due and payable to us; plus (b) the present value of all remaining Lease Payments and other amounts, discounted at the Discount Rate plus (c) the cost to repair and refurbish the Item so that it is in satisfactory condition in accordance with Section 10; plus (d) the present value of the residual value that we assumed in calculating Lease Payments discounted at the Discount Rate. "Internal Rate of Return" shall be calculated using standard finance techniques with the Equipment Cost, Lease Payments, Lease Term or residual value assumption as the variables. "Discount Rate" shall mean the Internal Rate of Return minus two percentage points (2%). 8. Early Payoff. In the event you desire to purchase an item of Equipment prior to the Lease Term End Date, are not in default, and you request a payoff amount quote, you agree to pay us the payoff amount. Upon receipt of the payoff amount, we will transfer to you all of our right, title and interest in such item of Equipment AS-IS, WHERE-IS, WITHOUT ANY WARRANTY AS TO CONDITION OR VALUE. 9. Return of Equipment. If this Lease Agreement is terminated for any reason and you do not return the Equipment to us, or, you agree to remit to us, until such time as the Equipment is returned to us in accordance with the provisions of this Section, lease payments each month equal to the higher of (i) the monthly fair market rental value of the Equipment, as determined by us in our sole discretion, or (ii) the monthly Lease Payment (or the monthly lease payment equivalent if the Lease Payments are other than monthly (e.g., for annual Lease Payments, the monthly lease payment equivalent would be calculated by dividing the annual Lease Payment by 12)). All Equipment must be returned to the nearest John Deere dealer that sells equipment substantially similar to the Equipment, at your expense and in satisfactory condition, along with all use, maintenance and repair records. Equipment is in satisfactory condition if it is in as good a condition as when the Equipment was delivered to you, reasonable wear excepted. Unsatisfactory condition shall include any condition described below ("Excessive Wear and Tear"): (a) Mechanical. (A) Computer systems or safety and emission control equipment not in proper working order; (B) mechanical components that are missing, broken or unsafe or that do not operate normally, given the age of the Equipment; (C) wear on power train assembly that exceeds manufacturer's standards for normal wear and tear; (D) any air filters not within manufacturer's specifications; (E) any gauges or fluid indicators that are damaged or do not function; (F) the electrical system fails to operate properly; (G) the battery fails to hold a charge; (H) any wire harnesses not tied down and kept secured, dry and clean; (I) any pumps, motors, valves or cylinders not in good operating condition or that fail to meet manufacturer's rated specifications; (J) hydraulic system exceeds manufacturer's then-current contaminant standards (as shown by oil sample analysis); (K) equipment not serviced according to manufacturer's operating manual; and/or (L) any lubricant, water or A/C seal leaks. (b) Exterior. (A) Dents larger than 2 inches in diameter; (B) excessive number of dents or scratches; (C) any scratch 8" or longer that reaches the metal skin; (D) any single chip the size of a quarter or larger or multiple small chips within one square foot; (E) substandard paint repairs, such as peeling, bubbling or mismatched shades that evidence poor condition in comparison to the original paint and require repainting at a cost in excess of $200; (F) rust holes in the body metal or a rust spot that covers more than a 4-inch square area; (G) any glass that must be replaced due to cracks or missing glass and any windshield damages cracked or broken glass must be replaced; (H) all frame damage and substandard frame repairs; and/or (I) any tires or tracks that (i) have broken side walls or excessive cuts or damages, (ii) have less than 50% of the original useful life remaining, or (iii) are not of the same size, type grade or equivalent quality manufacturer as were originally included on the Equipment. Lc) Cab/Operator Platform. (A) Heavy interior soil or strong odors, such as manure, that cannot be removed by general cleaning; (B) unclean condition of operator environment; and/or (C) holes, tears, or burns on the dash, floor covers, seats, headliners, upholstery or interior. (d) General. (A) Equipment not operated or maintained in accordance with manufacturer's specifications or 411E n ED fluids, on or in connection with the Equipment that do not meet manufacturer's standards were used; and/or (B) any of er amag that in the aggregate costs $250 or more to repair or that makes the Equipment unlawful or unsafe to operate. THE TERMS OF THIS CONTRACT ARE CONTAINED ON MORE THAN ONE PAGE Settlement Nbr 12982985 Equipment Type Golf Commercial DOC7000 Application ID: 12982985 Version Number 25 11/26/2019 11:56 AM Page 4 of 6 Revision Date: 22 September 201 DEC 0 9 2019 iM 111 (e) Other. (A) All warranty and PIP ("Product Improvement Program") work relating to the Equipment must be completed prior to the Lease Term End Date; (B) the Equipment must be cleaned prior to its return; (C) The Equipment must be prepared for storage according to the operators manual, including flushing the system and use of winterization fluid. If) Hour Meter. For each Item of Equipment returned with a broken or missing hour meter, you shall accept an invoice from us and remit to us an amount equal to $1,000. You agree that the engine hour meter included with the Equipment is conclusive of the number of hours of Equipment use. 1g) Invoices for Excess Wear And Tear. Upon any return of the Equipment, we shall, in our sole discretion, determine the existence of any Excessive Wear and Tear. In the event any Item of Equipment is returned to us with Excessive Wear and Tear, you shall, at our sole discretion, (A) accept an invoice from us and remit to us the cost of repairing or replacing the affected component(s) which we determine necessary to return the Equipment to its required condition; and/or (B) accept an invoice from us and remit to us an amount equal to our estimate of (i) the cost of new tires or tracks if the tires or tracks are damaged due to broken side walls or excessive cuts or damage, or (ii) the cost of new tires or tracks multiplied by the difference between (a) our estimate of the percentage of the useful life of the tires and tracks then remaining, and (b) 50%. For example, if you return Equipment with tires having 20% of their useful life remaining, you would remit to us an amount equal to 30% of the cost of new tires ((50% - 20%) multiplied by the cost of new tires). Your failure to remit the required payment to us within 10 days of demand shall constitute a default by you under the terms of this Lease Agreement. 10. Default. You will be in default if: (a) you fail to remit to us any Lease Payment or other payment when due; (b) you breach any other provision of this Lease Agreement and fail to cure such breach within 10 days; (c) you remove any Equipment from the United States; (d) a petition is filed by or against you or any guarantor under any bankruptcy or insolvency law; (e) a default occurs under any other agreement between you (or any of your affiliates) and us (or any of our affiliates); (f) you or any guarantor is acquired by, merges with or consolidates into another entity, sells substantially all its assets, dissolves or terminates its existence, or (if an individual) dies; or (g) you fail to maintain the insurance required by Section 6. Time is of the essence under this Lease Agreement. 11. Remedies. If a default occurs, we may, to the extent permitted by applicable law, do one or more of the following: (a) require you to return the Equipment in the manner outlined in Section 9, or take possession of the Equipment; (b) recover from you, AS LIQUIDATED DAMAGES FOR LOSS OF BARGAIN AND NOT AS A PENALTY: (i) if the Equipment is returned to to us, the sum of (1) all Lease Payments and any other amounts then due and payable to us; (2) the present value of all remaining Lease Payments and other amounts, discounted at the Discount Rate; (3) the cost to repair and refurbish the Item of Equipment so that it is in satisfactory condition in accordance with Section 9; and (4) the unamortized amount of our initial direct costs of originating and administering this Lease Agreement, (ii) if the Equipment is not returned to us, the Termination Value as of the date of such default, or (iii) if you are in default of subsection (e) of Section 5 above the Termination Value as of the date of such default; (c) declare any other agreements between you and us (or any of our affiliates) in default; (d) terminate any of your rights (but none of your obligations) under this Lease Agreement and any other agreement between you and us (or any of our affiliates); (e) charge you for the expenses incurred in connection with the enforcement of our remedies including, without limitation, repossession, repair and collection costs, attorneys' fees and court costs; (f) exercise any other remedy available at law or in equity; and (g) take on your behalf (at your expense) any action required by this Lease Agreement which you fail to take. These remedies are cumulative, are in addition to any other remedies provided by law, and may be exercised concurrently or separately. Any failure or delay by us to exercise any right shall not operate as a waiver of any other right or future right. 12. Assignment. You will not assign, pledge or otherwise transfer any of your rights or interests in this Lease Agreement or any Equipment without our prior written consent. Any assignment without our consent will be void. This Lease Agreement shall be binding upon any successor or permitted assignee. We may assign this Lease Agreement or our interest in the Equipment at any time without notice to you and without your consent. We may provide information about you to any prospective assignee or participant. You agree not to assert against our assignee any claims, offsets or defenses which you may have against us. 13. Indemnity. You are responsible for all losses, damage, claims, injuries to or the death of an individual, and attorneys' fees and costs ("Claims"), incurred or asserted by any person, in any manner related to the Equipment or this Lease Agreement thereof, including its use, condition or possession. You agree to defend and indemnify us, and hold us harmless, against all Claims, although we reserve the right to control the defense and to select or approve defense counsel. You will promptly notify us of all Claims made. Your liability under this Section is not limited to the amounts of insurance required under this Lease Agreement. This indemnity continues beyond the termination of this Lease Agreement for acts or omissions which occurred during the Lease Term. 14. Representations and Warranties. You represent and warrant to us, as of the date of this Lease Agreement, and covenant to us so long as this Lease Agreement is in effect, that: (a) you will not change your name without giving us at least 30 days' prior written notice; (b) each document you sign and deliver to us is duly authorized, executed and delivered by you, and is your valid, legal and binding agreement, enforceable in accordance with its terms; (c) execution, delivery and performance by you of this Lease Agreement does not and will not (i) violate any applicable law; or (ii) breach any order of court or other governmental agency, or of any undertaking you are a party to or by which you or any of your properties are bound; (d) you will comply with all applicable laws, ordinances and regulations; (e) all information you have given to us is true, accurate and complete; and (f) since the date of the most recent financial information given to us, no material adverse change in your business, assets, or prospects has occurred. You will promptly deliver to us such financial statements, reports and other information as we may request. Unless you are an individual, you also represent and warrant to us that: (a) you are and will remain duly organized, validly existing and in good standing under the laws of your jurisdiction of organization; (b) you are qualified to do business under the laws of all other jurisdictions where qualification is required or advisable; (c) you will not change your jurisdiction of organization or organization type without at least 30 days' prior written notice to us; and (d) the execution, delivery and performance by you of this Lease Agreement will not breach any provision of your organizational documents. You acknowledge and agree that: (a) we did not select, manufacture or supply any of the Equipment; (b) we acquired the Equipment at your direction; (c) you selected the supplier of the Equipment; (d) you are entitled to all manufacturer warranties ("Warranty Rights") and we assign all Warranty Rights to you, to the extent assignable; (e) you may request an accurate and complete statement of the Warranty Rights, including any disclaimers and limitations, directly from the manufacturer; and (f) you assign to us all our rights (but none of your obligations) under all purchase orders, purchase agreements or similar documents relating to the Equipme rights and remedies conferred upon a lessee under Sections 508 - 522 of Article 2A of the Uniform Commercial Code. vet 1VED DEC 0 9 2019 THE TERMS OF THIS CONTRACT ARE CONTAINED ON MORE THAN ONE PAGE Settlement Nbr: 12982985 Equipment Type Golf Commercial DOC7000 Application ID. 12982985 Version Number: 25 11/26/2019 11:56 AM Page 5 of 6 Revision Date: 22 September 2019 II 11 iii iii 1111 iii 111 15. Governing Law: Jurisdiction: Venue. THIS LEASE AGREEMENT WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF IOWA, WHERE THIS LEASE AGREEMENT IS ACCEPTED AND ENTERED INTO, except for its conflict of laws provisions. You irrevocably submit to the non-exclusive jurisdiction and venue of federal and state courts located in Des Moines, Iowa and will not claim it is an inconvenient forum for legal action. YOU AND WE IRREVOCABLY WAIVE ANY RIGHT YOU AND WE MAY HAVE TO A JURY TRIAL. 16. Miscellaneous. WE HAVE NOT MADE, AND DO NOT MAKE, ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE EQUIPMENT'S MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, SUITABILITY, OR OTHERWISE. WE ARE NOT LIABLE FOR CONSEQUENTIAL OR SPECIAL DAMAGES. You acknowledge that no supplier or dealer of the Equipment is an agent of ours. or authorized to act for or bind us. You agree not to withhold any amount you owe us if you believe you have a claim against us, or any Equipment supplier(s) or manufacturer(s), but to pursue that claim independently. Any claim you have against us must be made within two years after the event that caused it. All notices must be in writing and will be deemed given 5 days after mailing to the intended recipient at its address indicated above, unless changed by a notice given in accordance with this Section. This Lease Agreement supersedes and replaces all prior understandings and communications (oral or written) concerning the subject matter thereof. Except as otherwise provided in Section 12(d) no part of this Lease Agreement can be amended, waived or terminated except by a writing signed by both you and us. Any part of this Lease Agreement may be signed in separate counterparts that, together, will constitute one document. If a court finds any part of this Lease Agreement to be invalid or unenforceable, the remainder of this Lease Agreement will remain in effect. You permit us to monitor and record telephone conversations between you and us. By providing any telephone number, including a mobile phone number, to us. any of our affiliates or any debt collectors we retain, we, such affiliates and such retained debt collectors can contact you using that number, including calls using an automatic dialing and announcing device and prerecorded calls, and that such calls are not "unsolicited" under state or federal law. All of our rights under this Lease Agreement shall remain in effect after the expiration of the Lease Term or termination of this Lease Agreement. Notwithstanding any other election you make, you agree that (a) we can access, retain and use, at any times we elect any information regarding the location, maintenance, operation and condition of the Equipment (b) you irrevocably authorize anyone in possession of that information to provide all of that information to us upon our request until our security interest in the Equipment is terminated; (c) you will not disable or otherwise interfere with any information gathering or transmission device within or attached to the Equipment; and (d) we may reactivate any such device. You also agree that the Delivery and Acknowledgment and any other document related to this Lease Agreement signed by Lessee shall be binding on each Co-Lessee. THE TERMS OF THIS LEASE AGREEMENT SHOULD BE READ CAREFULLY BEFORE SIGNING BECAUSE ONLY THESE WRITTEN TERMS ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES MAY BE LEGALLY ENFORCED. BY SIGNING THIS LEASE AGREEMENT, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS SET FORTH IN THIS LEASE AGREEMENT. THIS LEASE AGREEMENT IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN YOU AND US, EXCEPT AS WE MAY LATER AGREE IN WRITING TO MODIFY IT. NOTICES TO THE LESSEE- DO NOT SIGN THIS LEASE AGREEMENT IN BLANK. YOU ARE ENTITLED TO A COPY OF THE LEASE AGREEMENT AT THE TIME YOU SIGN IT TO PROTECT YOUR LEGAL RIGHTS. LANDMARK GOLF MANAGEMENT. LLC /1-- )2- By: (.,L41,v (Date Signed) ANDY VOSSLER, President Accepted By: Deere Credit, Inc. (Lessor) 6400 NW 86th Street, Johnston, IA 50131-6600 )al1(-1101 By: (Date Agreement Signed) (Authorized Signature) RECEIVED DEC 0 9 2019 THE TERMS OF THIS CONTRACT ARE CONTAINED ON MORE THAN ONE PAGE Settlement Nbr 12982985 Equipment Type: Golf Commercial DOC7000 Application ID 12982985 Version Number. 25 11/26/2019 11 56 AM Page 6 of 6 Revision Date 22 September 2019 11111111111111111 11111 1111 1111 1111111110 NI FORM0700 Revision Date: 15 January 2017 111111111111111111111111 1111111111111111111 Page 1 of 1 JOHN DEERE California In-Use Off-Road FINANCIAL Diesel Vehicle Addendum Lease Agreement Application ID / Account Number: 12982985 This California In-Use Off-Road Diesel Vehicle Addendum (this "Addendum") amends and supplements that certain Lease Agreement entered into as of the 1st day of December. 2019 (the "Lease Agreement") by and between Deere Credit, Inc. ("Lessor") and LANDMARK GOLF MANAGEMENT, LLC ("Lessee"). WHEREAS, the parties wish to amend and supplement certain provisions set forth in the Lease Agreement and are willing to amend and supplement said provisions as set forth herein. NOW, THEREFORE, in consideration of the mutual covenants contained in this Addendum and for other good and valuable consideration, the receipt and sufficiency of which is expressly acknowledged, the parties agree as follows: 1. The following provision is hereby inserted following the last section of the Lease Agreement: "California Diesel Vehicle Regulation. When operated in California, the Equipment may be subject to the California Air Resources Board In-Use Off-Road Diesel Vehicle Regulation (the "Regulation", which can be found on the www.arb.ca.gov website and/or in the California Administrative Code). To the extent the Regulation applies, the Equipment is considered part of the Lessee's "Fleet" as defined therein and it is your obligation to comply with the applicable provisions of the Regulation. The Regulation specifies that idling of a vehicle is the Lessee's responsibility. No vehicle or engine subject to the Regulation may idle for more than five (5) consecutive minutes." Capitalized terms not defined in this Addendum shall have the meaning given to them in the Lease Agreement. Except as expressly amended by this Addendum, the terms and conditions of the Lease Agreement shall remain in full force and effect. This Addendum constitutes the complete understanding of the parties hereto and supersedes all prior understandings of the parties relating to the matters discussed herein. IN WITNESS WHEREOF, ,the parties have caused this Addendum to be executed by their duly authorized representatives as of the ,0 "day of NoV•2-/A , 2 .;;, I `i LANDMARK GOLF MANAGEMENT, LLC , zo ci By: tf ANDY VOSSLER, President (Date Signed) Accepted By: Deere Credit, Inc. (Lessor) 6400 NW 86th Street, Johnston, IA 50131-6600 By: (Date Agreement Signed) (Authori/ed Signature) RECEIVED DEC 0 92015 JOHN DEERE FINANCIAL Delivery and Acknowledgment LESSEE: (LANDMARK GOLF MANAGEMENT, LLC 79179 AHMANSON LN, LA QUINTA, CA 92253-5715 LESSOR: DEERE CREDIT, INC. 6400 NW 86th ST, PO BOX 6600, JOHNSTON, IA 50131-6600 Capitalized terms shall have the meanings set forth in the Lease Agreement. You hereby represent and warrant that: (a) all of the Equipment more fully described in the Lease Agreement was selected by you; (b) all of the Equipment and the Operator's Manuals have been delivered to, and received by, you; (c) you received the manufacturer's written warranty applicable to the Equipment and you understand that your rights are subject to the limitations outlined therein; (d) the safe operation and the proper servicing of the Equipment has been explained to you; (e) all of the Equipment has been inspected by you and is in good working order and repair (operating or otherwise); (f) the Equipment shall be used only for the purpose indicated in the Lease Agreement; (g) all of the Equipment is unconditionally and irrevocably accepted by you for all purposes under the Lease Agreement; and (h) al, information you provide to us is true and correct. Signed by Lessee's duly authorized representative on the date shown below. LANDMARK GOLF MANAGEMENT, LLC Ci BY Cr .e : f,0 (Date Signed) ANDY VOSSLER, President Revision Date 5 May 2019 A I t ID 12982985 DOC7009 11111111111Plialn Page 1 of 1 JOHN DEERE FINANCIAL Physical Damage/Liability Insurance LESSEE: LANDMARK GOLF MANAGEMENT ' LLC 79179 AHMANSON LN, LA QUINTA, CA 92253-5715 LESSOR: DEERE CREDIT, INC. 6400 NW 86th ST, PO BOX 6600, JOHNSTON, IA 50131-6600 LIABILITY INSURANCE on the Lease Agreement will be provided by the following insurance agency: Name of Agency: Phone Number of Agency: ( 957 ) 69 ,71--SC2o0 LcknZ 5 / c ecok--- leStir-eipc-L ,)__e_,(-,7 l c_ e.S Marling Address of Agency: Fax Number of Agency: PHYSICAL DAMAGE INSURANCE on the Lease Agreement will be provided by the following agency: Name of Agency: — . ( Pone Number of Agency: Ma ling Address of Agency: ,- 1// 70'? :;) —5:' te?7?(/ Sit— ,—.3t/,' 7L 7 e7 / Fax Number of Agency: If an insurance certificate is available, in place of the above information, it should be provided to: ADDITIONAL INSURED and LOSS PAYEE: Deere Credit, Inc. Its Successors &/or Assigns 6400 NW 86th St Johnston, IA 50131 I agree and understand that, pursuant to the provisions of Section 6 of the Lease Agreement, I must at all times (a) maintain public liability insurance, covering personal injury and property damage for not less than $1,000,000 per occurrence, naming Deere Credit, Inc. (and its successors and assigns) as additional insured: and (b) keep the Equipment insured against all risks of physical damage for no less than its Termination Value (as such term is defined in Section 7 of the Lease Agreement), naming Deere Credit, Inc. (and its successors and assigns) as sole loss payee. NOTICES TO LESSEE- DO NOT SIGN THIS PHYSICAL DAMAGE/LIABILITY INSURANCE IN BLANK. YOU ARE ENTITLED TO A COPY OF THE PHYSICAL DAMAGE/LIABILITY INSURANCE AT THE TIME YOU SIGN IT TO PROTECT YOUR LEGAL RIGHTS. LANDMARK GOLF MANAGEMENT, LLC By: (Date Signed) ANDY VOSSLER President RECEIVED DEC 0 97019 "vis11;7Dia;e: 15 janull11111111111111#11111121illifill 11111111111111 Page 1 o" — 1 ACCPREP 0 CERTIFICATE OF LIABILITY INSURANCE Ihkr....----- DATE (MM/DD/YYYY) 11/11/2019 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 Temecula Insurance Services 41923 Second Street Suite 201 Temecula CA 92590 CONTACT Cynthia Cadenhead NAME: PHONE (951) 694-5200 FAX (951) 302-0470 (A/C, No, Ext): (A/C, No): E-MAIL cynthia@temeculainsuranceservices.com ADDRESS: INSURER(S) AFFORDING COVERAGE NAIC # INSURER A : Granite State Insurance Company 23809 INSURED Landmark Golf Management, LLC. DBA: SilverRock Resort 79-179 Ahmanson Lane La Quinta CA 92253 INSURER B : New Hampshire Insurance Company 23841 INSURER C : NorGuard Insurance Company 25844 INSURER 0 : INSURER E : INSURER F : COVERAGES CERTIFICATE NUMBER: CL19111102568 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. INER LTR TYPE OF INSURANCE ADDL INSD SUBR VVVD POLICY NUMBER POLICY EFF (MMIDD/YYYY) POLICY EXP (MM/DD/YYYY) LIMITS A X COMMERCIAL GENERAL LIABILITY Y 02-LX-066142514-8 11/05/2019 11/05/2020 EACH OCCURRENCE 1 000 000 $ ' ' CLAIMS-MADE X OCCUR DAMAGE TO RENTED PREMISES (Ea occurrence) $ 300,000 MED EXP (Any one person) $ 15,000 PERSONAL & ADV INJURY $ 1,000.000 GEN'L X AGGREGATE POLICY OTHER: LIMIT APPLIES PRO- JECT PER: LOC GENERAL AGGREGATE $ 3,000 '000 PRODUCTS - COMP/OP AGG $ 3,000,000 Liquor Liability $ 1,000,000 A — — Ne — AUTOMOBILE LIABILITY ANY AUTO OWNED AUTOS ONLY HIRED AUTOS ONLY — No, •°- SCHEDULED AUTOS NON-OWNED AUTOS ONLY 02-CA-010173552-0 11/05/2019 11/05/2020 COMBINED SINGLE LIMIT (Ea accident) $ BODILY INJURY (Per person) $ BODILY INJURY (Per accident) $ PROPERTY DAMAGE (Per accident) $ HNOA $ 1,000,000 B X UMBRELLA LIAB EXCESS LIAB X OCCUR CLAIMS-MADE MKLM1EUL101018 11/05/2019 11/05/2020 EACH OCCURRENCE $ 10,000,000 AGGREGATE $ 20,000,000 DED RETENTION $ $ , ' WORKERS COMPENSATION AND EMPLOYERS' LIABILITY ANY PROPRIETOR/PARTNER/EXECUTIVE OFFICER/MEMBER EXCLUDED? (Mandatory in NH) If yes, describe under DESCRIPTION OF OPERATIONS below Y / N Y N / A LAWC968644 12/23/2018 12/23/2019 Ne• PER STATUTE 0TH ER E.L. EACH ACCIDENT . ' 1 000000 $ E L. DISEASE - EA EMPLOYEE $ 1,000.000 E.L. DISEASE - POLICY LIMIT $ 1,000,000 A Blanket Building & Contents Spec RC Business Income - ALS 02-LX-066142514-8 11/05/2019 11/05/2020 Limit $2,562,363 DES:RIPTION OF OPERATIONS I LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required) Certificate holder is hereby named as Loss Payee and Additional Insured. RE CEI DEC 0 9 2019 CERTIFICATE HOLDER CANCELLATION City of La Quinta 78495 Calle Tampico La Quinta 1 CA 92253 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 .4 /1 , l.(a/ t © 1988-2015 ACORD CORPORATION. All rights reserved. ACORD 25 (2016/03) The ACORD name and logo are registered marks of ACORD — 7 A CCU? Co0 CERTIFICATE OF LIABILITY INSURANCE DATE (MM/DINYYYY) 11/15/2019 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 Temecula Insurance Services 41923 Second Street Suite 201 Temecula CA 92590 CONTACT Cynthia Cadenhead NAME: PHONE (951) 694-5200 FAX (951) 302-0470 (A/C, No, Ext): (NC, No): E-MAIL cynthia@temeculainsuranceservices.com ADDRESS: INSURER(S) AFFORDING COVERAGE NAIC N INSURER A : Granite State Insurance Company 23809 INSURED Landmark Golf Management, LLC, DBA: SilverRock Resort 79-179 Ahmanson Lane La Quinta CA 92253 INSURER B : New Hampshire Insurance Company 23841 INSURER C : NorGuard Insurance Company 25844 INSURER D : INSURER E : INSURER F : COVERAGES CERTIFICATE NUMBER: CL19111102568 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 LTR TYPE OF INSURANCE INSD ADDL-SUBR WVD POLICY NUMBER POLICY EFF (MM/DD/YYYY) POLICY EXP (MM/DD/YYYY) LIMITS A X COMMERCIAL GENERAL LIABILITY 02-LX-066142514-8 11/05/2019 11/05/2020 EACH OCCURRENCE $ ' 1,000 000 CLAIMS-MADE X OCCUR DAMAGE PREMISES (Ea occurrence) $ 300.000 MED EXP (Any one person) $ 15,000 PERSONAL & ADV INJURY $ 1,000,000 GEN'L X AGGREGATE POLICY OTHER: LIMIT APPLIES PRO- JECT PER. LOC GENERAL AGGREGATE $ 3,000.000 PRODUCTS - COMP/OP AGG 3 0 00 $ ,00,0 Liquor Liability $ 1,000,000 A _ AUTOMOBILE X HIRED LIABILITY ANY AUTO OWNED AUTOS ONLY AUTOS ONLY - •%,e ',. SCHEDULED AUTOS NON-OWNED AUTOS ONLY 02-CA-010173552-0 11/05/2019 11/05/2020 COMBINED SINGLE LIMIT (Ea accident) $ BODILY INJURY (Per person) $ BODILY INJURY (Per accident) $ PROPERTY DAMAGE (Per accident) $ HNOA $ 1,000,000 B X - UMBRELLA LIAB EXCESS LIAB X _ OCCUR CLAIMS-MADE MKLM1EUL101018 11/05/2019 11/05/2020 EACH OCCURRENCE $ ' ' 10 000 000 AGGREGATE $ 20,000,000 DED RETENTION $ $ , ' WORKERS COMPENSATION AND EMPLOYERS' LIABILITY ANY PROPRIETOR/PARTNER/EXECUTIVE OFFICER/MEMBER EXCLUDED? (Mandatory In NH) If yes, describe under DESCRIPTION OF OPERATIONS below Y / N Y NIA LAWC968644 12/23/2018 12/23/2019 N/ PER STATUTE 0TH ER E.L. EACH ACCIDENT $ 1,000,000 E.L. DISEASE - EA EMPLOYEE 1 0 00 $ '0 0,0 E.L. DISEASE - POLICY LIMIT 1,000,000 $ A Blanket Building & Contents Spec RC Business Income -ALS 02-LX-066142514-8 11/05/2019 11/05/2020 Limit $2,562,363 DESCRIPTION OF OPERATIONS I LOCATIONS I VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required) Proof of Insurance DEC RECEIVED 0 9 2019 CERTIFICATE HOLDER CANCELLATION Proof of Insurance 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 © 1988-2015 ACORD CORPORATION. All rights reserved. ACORD 25 (2016/03) The ACORD name and logo are registered marks of ACORD