HomeMy WebLinkAboutStaff Report 6736City of Palo Alto (ID # 6736)
City Council Staff Report
Report Type: Consent Calendar Meeting Date: 5/16/2016
City of Palo Alto Page 1
Summary Title: Contract For Leasing of Two Aerial Bucket Trucks
Title: Approval of a Vehicle Lease and Purchase Option With Altec Capital in
an Amount Not-to-Exceed $602,847 for two Model Year 2017 Articulating
Aerial Device Bucket Trucks and Approval of Budget Amendments in the
Electric Fund and Vehicle Equipment and Replacement Fund
From: City Manager
Lead Department: Public Works
Recommendation
Staff recommends that Council:
1.Approve and authorize the City Manager or designee to execute the
attached contract (Attachment A) with Altec Capital in an amount not to
exceed $602,847 for the lease and eventual purchase of one 2017 Model
AM60 articulating overcenter aerial device bucket truck and one 2017
Model AA67 articulating non-overcenter aerial device bucket truck .
2.Amend the Fiscal Year 2016 Budget Appropriation Ordinance for the Water
Fund by:
a.Increasing the operating budget appropriation by $120,569; and
b.Decreasing the Vehicle Equipment & Replacement Fund by $120,569.
Background
The newly updated internal Vehicle and Equipment Use, Maintenance, and
Replacement Policy provides for the on-going replacement of City fleet vehicles
and equipment. Replacements are scheduled using guidelines based on age,
mileage accumulation, and obsolence. The policy prescribes a replacement
interval for aerial bucket trucks of ten years or 100,000 miles.
In accordance with the policy,Fleet Review Committee (FRC) reviewed the
proposed vehicles and authorized their replacement. FRC approved the leasing of
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these vehicles on January 21, 2016.
The approval was based on:
·An examination of each vehicle’s current usage;
·An analysis of each vehicle’s operating and replacement costs;
·A comparison of the age, mileage, operating cost and performance of
each vehicle with others in the class; and
·An analysis of alternatives to ownership, such as mileage
reimbursement; pooling/sharing; reassignment of another underutilized
vehicle or renting.
Although scheduled for replacement in 2007, the economic downturn resulted in
replacement being postponed. Recently, the staff began discussions of leasing
these and other specialty type vehicles. The cost to purchase two new aerial
bucket trucks is more than the leasing costs when factoring downtime and
maintenance costs. Leasing creates projected savings based upon the significant
benefits of having a vendor that is responsible for all vehicle maintenance.
Additionally, if the vehicle is out of service for more than 24 hours, the vendor will
make every effort to provide a similar loaner vehicle as soon as possible. Without
a backup service vehicle, Utilities service levels drop when a vehicle is down for
maintenance/repairs, unless Utilities Department rents a vehicle for a monthly
charge of approximately $4500.
Discussion
The City of Palo Alto Utilities has two double bucket trucks. Unit 7621 is a 1997
Freightliner model FL70, and Unit 7620 is a 2001 Freightliner model FL70. Both
have surpassed the 10-year replacement interval recommended in the policy.
These are specialty vehicles where mileage is not as important as the total run-
time of the engine,which powers the hydraulic systems that allow the workforce
to complete their daily tasks. These vehicles are unique in that they are die-
electrically tested and can reach a working height of 55 or 60 feet. These vehicles
are needed to perform normal work such as rubber gloving, where both operators
and trucks must be certified to work on live systems between 5,000 and 21,000
volts. These vehicles are also Utilities first-responders,responding to identified
overhead outages such as downed electrical wires and/or tree limbs on
conductors. Not having these vehicles, or a backup, delays outage restoration
abilities.
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Staff recommends replacement of these vehicles,as increasing maintenance costs
are more costly than purchasing/leasing a new vehicle. The average annual shop
downtime for units 7621 and 7620 in the first ten years was 95 hours at a cost of
$2,184.00 annually. During the second 10 year period of operation the average
annual shop downtime increased to 224 hours, at a cost of $11,081.00 annually.
The amount of vehicle downtime doubled in the second ten years of operation
and the repair costs increased five times. Vehicle unavailability leads to lost time
for workers who are unable to work or have to use inefficient work practices. The
lost productivity for workers increased from 315 hours to 964 hours annually, or
$45,000-$130,000 annually in the second ten years of operation for both vehicles.
Utilities staff completed an analysis on vehicle leasing. Failure to replace existing
bucket trucks in a timely manner and the cost of downtime associated when
maintenance or repairs are needed make purchasing costs greater than leasing
costs. There were multiple types of leases analyzed (Attachment B).
Staff suggest the $1.00 buy out lease, where the City takes full ownership of the
vehicles at the end of the lease. The leasing terms for the 2017 Altec model
AM60 would be calculated at $5,175.41 per month (sales tax included), for 60
months with the option for to buy the equipment at the conclusion of the lease
for $1.00 or return it to the vendor for credit towards a new lease. The leasing
terms for the 2017 Altec model AM67 would be calculated at $4,872.00 per
month (sales tax included), for 60 months with the option to buy the equipment
at the conclusion of the lease for $1.00 or return it to the vendor for credit
towards a new lease. The City intends to, at the conclusion of each lease,
purchase both vehicles and continue their use in the fleet until approval of
another lease/purchase contract and replacement vehicles can be put into
service. Once new vehicles are obtained, the City would then surplus the vehicles
and all proceeds would go back into the Vehicle Replacement Fund. The
combined monthly lease for both units would be $10,047.41 per month, for 60
months, resulting in a combined buy out total of $602,846.60 for both vehicles. A
breakdown of the leasing options is provided (Attachment C).
Bid Process
The City’s Municipal code, PAMC section 2.30.360 (j) identifies the process that
allows the use of Intergovernmental Cooperative Purchasing agreements. Bids
for this purchase were obtained through the National Joint Purchasing Alliance
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(NJPA), Attachment A, which is an approved cooperative group. A Request for
Quotation (RFQ) was sent to National Joint Powers Alliance (NJPA) and proposal
from Altec Capital was received March 30,2016.
Resource Impact
This is the City of Palo Alto Utilities first attempt to lease these types of vehicles.
The impact is lessened by the fact that initial costs will be paid through the use of
existing funds collected for these vehicles (approximately $585,000). Funds
collected will be returned to the City of Palo Alto Utilities on an annual basis to
match the leasing cost. Once these collected funds have been depleted, any
remaining lease costs are to be requested through the standard budget process.
Policy Implications
The approval of this request to lease vehicles is consistent with existing City
policies, including Council approved Utilities Strategic Plan to operate the
electrical distribution system in a cost effective manner which includes vehicles,
to invest in utility infrastructure to deliver reliable service.
Attachments:
·Attachment A-Lease And Warranty Contract (PDF)
·Attachment B -Lease Options (PDF)
·Attachment C -Lease Option Breakdown (XLSX)
·Attachment D -AM60 Quote (PDF)
·Attachment E -AA67 Quote (PDF)
Attachment A
Mee Capital.
ALTEC CAPITAL SERVICES, LLC
33 Inverness Center Parkway
Suite 200
Birmingham, AL35242
Equipment LP Lease
Equipment Lease Number
Name and Address of Lessee:
Equipment Description: See Exhibit I
Eauioment Location: , (Countv:)
SUMMARY OF PAYMENT TERMS
Initial Term in Months: Total Cost:
Payment Frequency: Total Basic Rent:
Basic Rental Payment: plus sales and use tax if applicable Doc Fee:
Number of Installments: Interim Rent Cutoff Date:
Advance Payment(s): due on signing this Lease Security Deposit:
Down Payment collected by ACS:
Purchase Option: NIA Rent Commencement Date:
Purchase Agreement: $1.00
Lease Provisions
1. LEASE. Allee Capital Seivices, LLC (the 'Lessor') hereby agrees to lease to Lessee, and Lessee hereby agrees to lease from Lessor, the property or other items listed or described on
Exhibit I hereto, including but not limited to all inventory, fixtures and other properties compromising the same, such property, together with all replacements, substitutions, repairs, improvements
and additions incorporated therein or affixed thereto being referred to herein individually, as an "Item· or "Item of Equipmenr and collectively, as the 'Equipmenr listed above on the terms and
conditions set forth herein.
2. TERM. The term of this lease commences on the Acceptance Date and will continue until Lessee performs all of Lessee's Obligations hereunder, unless earlier terminated or cancelled in
accordance with the terms of this Lease. Acceptance Date shall be the earliest of the following: (a) the date Lessee signs the Acceptance Certificate (b) the date that Lessor determines that
Lessee commences use of any portion of the Equipment or (c) seven (7) days after the date on which, in Lesso(s determination, substantially all of the Equipment has been delivered to Lessee
IT Lessee fails to notify Lessor that such Equipment is not acceptable. Lessee acknowledges and agrees that certain obligations of Lessee, including but not limited to Lessee's obligations with
respect to section 12 and 13 will begin upon delivery of the Equipment This Lease cannot be canceled or terminated except as expressly provided for herein. LESSEE'S OBLIGATIONS
UNDER THIS LEASE ARE ABSOLUTE, UNCONDITIONAL AND NON-CANCELABLE IN ALL RESPECTS AND SHALL NOT BE SUBJECT TO TERMINATION, MODIFICATION OR
REPUDIATION, AND SHALL BE PAID AND PERFORMED BY LESSEE WITHOUT NOTICE OR DEMAND AND WITHOUT ANY ABATEMENT, REDUCTION, DIMINUTION, SETOFF,
DEFENSE, COUNTERCLAIM OR RECOUPMENT WHATSOEVER, INCLUDING BUT NOT LIMITED TO ANY MALFUNCTION OF THE EQUIPMENT, DAMAGE TO THE EQUIPMENT OR
ANY INABILITY TO USE THE EQUIPMENT FROM ANY CAUSE WHATSOEVER, ANY PAST, PRESENT OR FUTURE CLAIMS THAT LESSEE MAY HAVE AGAINST LESSOR OR ANY
MANUFACTURER, SUPPLIER, OR VENDOR OF ANY EQUIPMENT, OR ANY OTHER PERSON OR ENTITY WHATSOEVER. The Interim Term, ('Interim Term"), for each item of
Equipment shall begin on the Acceptance Date and shall continue through the Interim Rent Cutoff Date. The Initial Term, ('Initial Term'), shall begin on the Rent Commencement Date and
shall continue for the period specified as the Number of Installments. The Initial Term of this Lease can be terminated as provided herein or extended automatically as provided below in this
paragraph.
AUTOMATIC EXTENSION. Lessee or Lessor may terminate this Lease at the expiration of the Initial Term by giving the other at least 90 days prior written notice of termination. If neither
Lessee nor Lessor gives such notice, then the term of this Lease shall be extended automatically on the same rental and other terms set forth herein (except that in any event rent during any
extended term shall be payable in the amounts and at the times provided in paragraph 3) for successive periods of one month until terminated by either Lessee or Lessor giving the other at
least 90 days prior written notice of termination.
3. RENT. Lessee shall pay as Basic Rent for the Initial Term of this lease the amount shown on the first page of this lease as Total Basic Rent The Total Basic Rent shall be payable in
installments each in the amount of the Basic Rental Payment plus sales and use tax thereon. Lessee shall pay advance installments and any Security Deposit, on the date it is executed by
Lessee. Lessee's first Basic Rental Payment shall be due on the first day of the first month following the Acceptance Date (the "Initial Term Commencement Date') and basic rental payments
shall be due on the first day of each rental payment period beginning with the Rent Commencement Date and continuing for the Number of Installments. If the actual cost of the Equipment is
more or less than the Total Cost the amount of each installment of rent will be adjusted up or down to provide the same yield to Lessor as would have been obtained if the actual cost had been
the same as the Total Cost Adjustments of 10% or less may be made by written notice from Lessor to Lessee. Adjustments of more than 10% shall be made by execution of an amendment to
this lease reflecting the change in Total Cost and rent
In addition to Total Basic Rent Lessee agrees to pay Interim Rent with respect to each separate item of Equipment during the Interim Term. Interim Rent is calculated as one thirtieth
(11301h) of the Basic Rental Payment for the number of days from and including the Acceptance Date to and including the Interim Rent Cutoff Date. Interim Rent accruing each calendar
month shall be payable by the 101h day of the following month and in any event on the Rent Commencement Date. Lessee agrees that if the Equipment covered by this lease has not
been accepted by providing Lessor an Acceptance Certificate within fourteen (14) days after delivery or if the Equipment is not delivered within thirty (30) days after the execution of this
Lease, the Lessor may terminate this Lease and Lessee shall purchase from Lessor the items of Equipment then subject to the lease within five days after Lesso(s request to do so for a
price equal to Lesso(s cost of such items plus all accrued but unpaid interim rent thereon. Lessee shall also pay any applicable sales and use tax on such sale.
During any extended term of this lease, basic rent shall be payable monthly in advance on the first day of each month during such extended term in the amount equal to the Basic Rental
Payment IT rent is payable monthly during the Initial Tenn or in an amount equal to the monthly equivalent of the Basic Rental Payment if rent is payable other than monthly during the Initial
Term. In addition, Lessee shall pay any applicable sales and use tax on rent payable during any extended term.
4. SECURITY DEPOSIT. Lessor may commingle any such Security Deposit with other funds and shall have no obligations with respect thereto except as expressly agreed herein. Lessor
may apply the Security Deposit to any payment due Lessor or to cure any default, in which event Lessee will promptly restore the Security Deposit to Its full amount
5. WARRANTIES. Lessee has selected each item of Equipment based upon Lessee's own judgment and disclaims any reliance upon any statements or representations made by Lessor.
Lessee further agrees that there are no warranties, terms, conditions or agreements made by 6r on Lessors beha~ and neither the supplier, manufacturer nor any other party is Lesso(s agent
and Lessor is not the agent of any other party with respect to the Equipment this Lease and the matters contemplated hereby. Lessor acknowledges that Lessor is not a 'merchanr as that
term is defined in the Uniform Commercial Code as presently adopted in the State of Alabama (the 'UCC') with respect to the Equipment LESSOR MAKES NO WARRANTY WITH
RESPECT TO THE EQUIPMENT, EXPRESS OR IMPLIED, AND LESSOR SPECIFICALLY DISCLAIMS ANY WARRANTY OF MERCHANTABILITY OR OF FITNESS FOR A PARTICULAR
PURPOSE AND ANY LIABILITY FOR CONSEQUENTIAL OR INCIDENTIAL DAMAGES, INCLUDING LOST PROFITS, ARISING OUT OF THE USE OF OR THE INABILITY TO USE THE
EQUIPMENT. Lessee agrees to make the rental and other payments required hereunder without regard to the condition or the inability of the Equipment and to look only to persons other than
Lessor such as the manufacturer, vendor or carrier thereof should any item of Equipment for any reason be defective. So long as no Event of Default has occurred and is continuing, Lessor
agrees, to the extent they are assignable, to assign to Lessee, without any recourse to Lessor, any warranty received by Lessor.
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6. TITLE. NOTWITHSTANDING ANY CONTRARY LANGUAGE IN THIS DOCUMENT, this agreement evidences a lease-purchase arrangement that constitutes a sea.ired financing and
not a true lease for legal, tax and accounting purposes. Lessee hereby grants to Lessor a first priority security interest in the Equipment. Title shall at all times be in Lessee's name, subject
to Lessors security interest and any certificate of title shall list Lessee as owner and Lessor as lienholder. Title to the Equipment shall at all times remain in the possession of Lessor.
Anything herein to the contrary notwithstanding, certificates of title for the Equipment may be held by a trust or other entity designated by Lessor and such circumstance shall not affect the
parties' obligations or rights hereunder, except that all of Lessee's obligations to indemnify and provide insurance for the benefit of Lessor shall apply equally to such trust or other entity and the
party acting as trustee or servicer. The Equipment shall remain personal property regardless of its attachment to realty, and Lessee agrees to take such action at its expense as may be
necessary to prevent any third party from acquiring any interest in the Equipment as a result of its attachment to realty.
7. LAWS AND TAXES. Lessee shall comply with all laws and regulations relating to the Equipment and the Equipmenfs use and shall promptly pay when due all sales, use, property, excise
and other taxes and all license and registration fees now or hereafter imposed by any governmental body or agency upon the Equipment or its use or the rentals hereunder. Upon request by
Lessor, Lessee shall prepare and file all tax returns relating to taxes for which Lessee is responsible hereunder which Lessee is permitted to file under the laws of the applicable taxing
jurisdiction.
8. INDEMNITY. Lessee hereby agrees to defend, indemnify and hold Lessor, Lessors employees, agents, officers, managers or members harmless from and against (a) all claims,
demands, suits and legal proceedings (whether civil, criminal, administrative, investigative or otherwise) including but not limited to those arising out of (i) the actual or alleged
manufacture, purchase, financing, ownership, delivery, rejection, non-<lelivery, possession, use, transportation, storage, operation, maintenance, repair, return or other disposition of the
Equipment. (ii) patent, trademark or copyright infringement, and (iii) any alleged or actual default by Lessee (collectively 'Actions'); and (b) any and all penalties, losses, liabilities
(including but not limited to negligence, tort and strict liability), damages, costs, court costs and any and all other expenses (including but not limtted to attorneys' fees, judgments and
amounts paid in settlement) incurred incident to, arising out of or in any way connected with any Actions, this Agreement, any Equipment, or any other instrument, document or
agreement executed in connection with or contemplated by any of the foregoing (collectively the 'Losses'). Notwithstanding the foregoing, Lessee shall not be required to indemnify
Lessor for any Losses or Actions resulting solely from Lessors gross negligence or willful misconduct. Lessee shall, at Lessors discretion, appear and defend any such action and pay
the cost of the defense of any such action brought against Lessor, either alone or in conjunction with others, upon any such liability or claim. Lessee shall satisfy, pay and discharge any
and all judgments and fines that may be recovered against Lessor in any such action. The foregoing indemnities shall survive expiration, termination or cancellation of this Agreement
whether by expiration of time, by operation of law or otherwise.
9. INSPECTION. Lessor may inspect the Equipment at any time and from time to time during regular business hours.
10. ASSIGNMENT. WITHOUT LESSOR'S PRIOR WRITTEN CONSENT, LESSEE WILL NOT SELL, ASSIGN, TRANSFER, SUBLET, PLEDGE, OR OTHERWISE ENCUMBER OR
PERMIT A LIEN ARISING THROUGH LESSEE TO EXIST ON OR AGAINST ANY INTEREST IN THIS LEASE OR THE EQUIPMENT, or remove the Equipment from its location referred to on
the first page of this lease. Lessor may assign its interest in this lease and sell or grant a security interest in all or any part of the Equipment without notice to or the consent of Lessee. Lessee
agrees not to assert against any assignee of Lessor any claim or defense Lessee may have against Lessor.
11 . USE; REPAIRS. Lessee will use the Equipment with due care and for the purpose for which tt is intended. Lessee will maintain the Equipment in good repair, condition and working order
and will furnish all parts and services required therefor, all at Lessee's sole cost and expense, ordinary wear and tear excepted. Lessee shall, at Lessee's expense, make all modifications and
improvements to the Equipment required by law, and shall not make other modifications or improvements to the Equipment without the prior written consent of Lessor. All parts, modifications
and improvements to the Equipment shall, when installed or made, immediately become the property of Lessor and part of the Equipment for all purposes.
12. LOSS OR DAMAGE. In the event any ttem of Equipment shall become lost, stolen, destroyed, damaged from any cause whatsoever or rendered permanently unfit for use for any reason,
or in the event of condemnation, requisition or seizure of any ttem of Equipment {collectively an 'Event of Loss') Lessee shall immediately, but in no event later than two (2) day after the Event
of Loss, notify Lessor in writing of the circumstances and extent of such Event of Loss. Upon any such Event of Loss, at Lessors sole discretion, Lessee will either promptly pay Lessor the sum
of (a) the amount of all rent and other amounts payable by Lessee hereunder with respect to such ttem due but unpaid at the date of such payment plus {b) the amount of all unpaid rent with
respect to such Item for the balance of the term of this lease not yet due at the time of such payment discounted from the respective dates installment payments would be due at the rate of
2.5% per annum plus (c) the dollar amount specified in either the 'Purchase Option' box on the first page of this lease (the 'Lessors Loss') or {b) replace said Equipment with satisfactory new
Equipment, with such determination being made by Lessor in Lessors sole discretion. Upon payment of Lessors Loss to Lessor, such ttem shall become the property of Lessee, Lessor will
transfer to Lessee, without recourse or warranty, all of Lessors right, title and interest therein, the rent with respect to such Item shall terminate, and the basic rental payments shall be reduced
accordingly based on the remaining Equipment Lessee shall pay any sales and use taxes due on such transfer. Any insurance or condemnation proceeds received shall be credited to
Lessee's obligation under this paragraph and Lessor shall be entitled to any surplus.
13. INSURANCE. Lessee shall procure and maintain on or with respect to the Equipment at Lessee's sole cost and expense (a) liability insurance insuring against liability for bodily injury and
property damage with a in an amount satisfactory of Lessor of combined single limlt coverage, but in no event less than $1,000,000.00; and (b) physical damage insurance insuring against loss
or damage to the Equipment in an amount not less than the full replacement cost of the Equipment; provided that such amount is satisfactory to Lessor. Lessee shall furnish Lessor with a
certificate of insurance, policy endorsements and other coverage that is satisfactory for Lessor evidencing the issuance of a policy or policies to Lessee amounts as Lessor may determine
herein naming Lessor as an additional insured thereunder for the liability coverage and as loss payee for the physical damage coverage and additional insured for the liability coverage. Each
such policy shall be in such form and with such insurers as may be satisfactory to Lessor, and shall contain a clause requiring the insurer to give to Lessor at least 30 days prior written notice of
any alteration in the terms of such policy or the cancellation thereof, and a clause specifying that no action or misrepresentation by Lessee shall invalidate such policy and Lessee shall obtain
renewals thereof at least fifteen (15) full business day prior to the expiration thereof. Lessor shall be under no duty to ascertain the existence of or to examine any such policy or to advise
Lessee in the event any such policy shall not comply with the requirements hereof.
In the event that Lessee does not provide Lessor with satisfactory proof of insurance, Lessee will pay Lessor a per diem insurance charge of $0.15 per thousand of the Equipment's then
Fair Market Value as a risk fee to Lessor until such time as Lessee provides satisfactory proof of insurance in amounts and coverage as required herein. The risk fee may include a profit to
Lessor and is not intended to be insurance covering the Lessee.
With respect to Lessee's obligation to obtain and maintain physical damage insurance only, Lessee shall have the alternative right to elect to have Lessor purchase collateral damage
insurance in Lessors name as subject to approval. In the event of such election by Lessee, Lessee agrees to pay all costs relating to such insurance, together with an insurance cost
transfer charge {which insurance costs may be more than the cost of insurance Lessee could purchase on its own) as compensation for being relieved of its obligation to obtain and
maintain physical damage insurance coverage on the Equipment while such Equipment is in Lessee's care, custody or control. The insurance costs payable by Lessee will be separately
disclosed to Lessee and added to its monthly lease payment set forth herein; provided that Lessee may prepay such amounts at any time and any such prepayment will be applied to
Lessee's account. Lessee also agrees that it will not be a named insured or addltional insured under any physical damage insurance policy purchased by the Lessor as a result of
Lessee's election and that Lessee shall have no rights or benefits with res ct to any collateral damage insurance policy so purchased by Lessor.
_____ Lessee Elec1s Collateral Damage Coverage
_____ .Lessee Declines Collateral Damage Coverage
In the event that Lessee elects to have Lessor purchase collateral damage insurance, Lessee agrees, that in the event of loss to the Equipment, Lessee shall notify, in writing, within 24 hours of
the loss, both Lessor and Lessors insurance carrier of such loss at the address provided by Lessor for such notice. If Lessee elects to have Lessor purchase collateral damage insurance, (a)
Lessee may cancel such insurance at any time by providing notice and evidence to Lessor and its insurance carrier that Lessee has obtained its own insurance satisfying the requirements set
forth hereinabove in this lease or (b) we may cancel such insurance at any time by providing you sixty (60) days prior written notice and, upon any such cancellation, Lessee shall be entitled
to a refund of any unearned insurance premium. The collateral damage coverage policy does not include liability coverage for claims made against Lessee and will not satisfy any mandatory
state liability insurance or financial responsibility laws that may apply.
IMPORTANT: LESSEE MUST SELECT AND INITIAL ONE OF THE INSURANCE OPTIONS ABOVE
14. RETURN OF THE EQUIPMENT. Upon the expiration of this lease, and provided that Lessee has not elected to exercise its option to purchase the Equipment, Lessee shall, at its
expense Lessee will immediately deliver the Equipment to Lessor in the manner and condition as follows. Lessee shall pay all transportation, inspection, and other expenses relating to such
delivery.
15. ADDITIONAL ACTION. Lessee will promptly execute and deliver to Lessor such further documents and take such further action as Lessor may request in order to carry out more
effectively the intent and purpose of this Lease, including the execution and delivery of appropriate financing statements to protect fully Lessors interest hereunder in accordance with the
UCC or other applicable law. Lessor and any assignee of Lessor is authorized to file one or more UCC financing statements without the signature of Lessee or signed by Lessor or any
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assignee of Lessor as attorney-in-fact for Lessee. Lessee hereby grants to Lessor a power of attorney in Lessee's name, to apply for a certificate of title for any item of Equipment that is
required to be titled under the laws of any jurisdiction where the Equipment is or may be used and/or to transfer title thereto upon the exercise by Lessor of its remedies upon an Event of
Default by Lessee under this Lease. Lessee will pay all costs of filing any financing, continuation or termination statements with respect to this Lease including, without limitation, any
documentary stamp taxes relating thereto. Lessee will do whatever may be necessary to have a statement of the interest of Lessor and any assignee of Lessor in the Equipment noted
on any certificate of title relating to the Equipment and will deliver said certificate to Lessor. If Lessee fails to perform or comply with any of its agreements, Lessor may perform or comply
with such agreements in Lessor's own name or in Lessee's name as attorney-in-fact and the amount of any payments and expenses of Lessor incurred in connection with such
performance or compliance, together with interest thereon at the rate provided below, shall be deemed rent payable by Lessee upon demand.
16. LATE CHARGES. If any installment of interim rent or basic rent or any other amounts owed by Lessee to Lessor under this Agreement are not paid when due, Lessor may impose a late
charge of up to 10% of the amount of the payment but in any event not more than permitted by applicable law. Payments thereafter reoeived shall be applied first to delinquent installments and
then to current installments.
17. DEFAULT. Each of the following events shall constitute an 'Event of Default' hereunder. (a) Lessee shall fail to pay when due any Interim Payment Basic Rental Payment or any other
amount due hereunder or otherwise with respect to the Obligations; (b) Lessee shall fail to observe or perform any other agreement to be observed or performed by Lessee hereunder or with
Altec Industries, Inc. or any other of Lessor's Affiliates (after giving effect to any applicable notice and/or cure provisions therein); (c) Lessee or any guarantor of Lessee's Obligations or any
partner or member of Lessee if Lessee is a partnership or limned liabillty company, respectively, shall (i) cease doing business as a going concern or make an assignment for the benefit of
creditors; or (ii) voluntarily file, or have filed against It involuntarily, a petition for liquidation, reorganization, adjustment of debt or similar relief under the federal Bankruptcy Code or any other
present or future federal or state bankruptcy or insolvency law, or a trustee, receiver, or liquidator shall be appointed of It or of all or a substantial part of Lessee's assets; (d) any individual
Lessee, guarantor of this Agreement or partner of Lessee if Lessee is a partnership shall die; (e) any financial or credit information submitted by or on behalf of Lessee shall prove to have been
false or materially misleading when made; (D an event of default shall occur under any other Obligation Lessee CNJes to Lessor, (g) any indebtedness Lessee may nCNJ or hereafter owe to any
Affiliate of Lessor shall be accelerated follCNJing a default there under or, if any such indebtedness is payable on demand, payment thereof shall be demanded; (h) if Lessee is a corporation,
more than 50% of the shares of voting stock or equity interests of Lessee shall become CNJned by shareholders who were not owners of voting stock or equity interests of Lessee on the date
this Agreement begins or, if Lessee is a partnership, more than 50% of the partnership interests in the Lessee shall become CNJned by a partner or partners who were not partners of Lessee on
the date this Agreement begins; (i) Lessee or any guarantor shall consolidate with or merge into, or sell or lease all or substantially all of Lessee's or any guarantor's assets to, any individual,
corporation, or other entity; OJ any guarantor attempts to repudiate, revoke, rescind or cancel a guaranty with Lessor, and (k) Lessee or any guarantor shall suffer an adverse material change in
Lessee's or any guarantor's financial condition from the date hereof, and as a result thereof Lessor deems Itself or any of the Equipment to be insecure.
18. REMEDIES. Upon the occurrence of an Event of Default and at any time thereafter, Lessor may exercise any one or more of the remedies listed below as Lessor in Lessor's sole discretion
may lawfully elect; provided, however, that upon the occurrence of an Event of Default specified in paragraph 17(d), an amount equal to Lessor's Loss as of the date of such occurrence shall
automatically become and be immediately due and payable without notice or demand of any kind:
a) Lessor may, by written notice to Lessee, terminate this lease and declare an amount equal to Lessor's Loss as of the date of such notice to be immediately due and payable, and the same
shall thereupon be and become immediately due and payable without further notice or demand, and all rights of Lessee to use the Equipment shall terminate but Lessee shall be and remain
liable as provided in this paragraph 18. Lessee shall at Lessee's sole cost and expense promptly deliver the Equipment to Lessor at a location or locations within the continental United States
designated by Lessor. Lessor may also enter upon the premises where the Equipment is located and either disable or take immediate possession of and remove the same with or without
instituting legal proceedings.
b) Lessor may proceed by appropriate court action to enforce performance by Lessee of the applicable covenants of this lease or to recover, for breach of this lease, Lessor's Loss as of the
date Lessor's Loss is declared due and payable hereunder.
c) In the event Lessor repossesses the Equipment Lessor shall either retain the Equipment in full satisfaction of Lessee's obligation hereunder or sell or lease each Item of Equipment in such
manner and upon such terms as Lessor may in its sole discretion determine. the proceeds of such sale or disposition may be applied to or on account of such of the Obligations (including any
additional amounts under clause (d) and (e) beiow. Lessor shall be entitled to any surplus and Lessee shall remain liable for any deficiency. For purposes of this section (c), the proceeds of
any lease of all or any part of the Equipment by Lessor shall be the amount reasonably assigned by Lessor as the cost of such Equipment in determining the rent under such lease.
d) Lessor may recover interest on the unpaid balance of Lessor's Loss from the date It becomes payable until fully paid at the rate of the lesser of 12% per annum or the highest rate
permitted by law.
e) Lessor may exercise any other right or remedy available to It by law, in equity or by agreement and may in any event recover legal fees and other expenses incurred by reason of an Event
of Default or the exercise of any remedy hereunder, including expenses of repossession, repair, storage, transportation, and disposition of the Equipment
If this lease is deemed at any time to be a lease intended as security, Lessee grants Lessor a security interest in the Equipment to secure its obligations under this lease and all other
indebtedness at any time owing by Lessee to Lessor and agrees that upon the occurrence of an Event of Default, In addition to, and without !imitation of, the foregoing, Lessor shall have all of
the rights and remedies of a secured party under the UCC. No remedy given in this section is intended to be exclusive, and each shall be cumulative but only to the extent necessary to permit
Lessor to recover amounts for which Lessee is liable hereunder. No express or implied waiver by Lessor of any breach of Lessee's obligations hereunder shall constitute a waiver of any other
breach of Lessee's obligations hereunder.
19. PURCHASE. Upon expiration of this lease, Lessee shall (a) cure any default under this lease, (b) if there is a dollar amount specified in the 'Purchase Option" box on the first page of this
lease, have the option, upon not less than sixty (60) days prior written irrevocable notice, to purchase all of the Equipment for the amount specified, plus applicable sales, tax, and (c) if there is a
dollar amount specified in the "Purchase Agreemenr box on the first page of this lease, be required, and Lessee hereby irrevocably agrees, to purchase all of the Equipment for the amount
specified, plus applicable sales tax. Any purchase of the Equipment pursuant to the preceding sentence shall be "AS IS-WHERE IS', with all faults and without any warranty whatsoever (and
Lessor shall convey the Equipment to Lessee by bill of sale, containing a disclaimer of warranties, and shall return any titles to the lessee).
20. NOTICES. Any written notice hereunder to Lessee or Lessor shall be deemed to have been given when delivered personally or deposited in the United States mails, postage prepaid, or
by a nationally reoognized express courier service (such as FedEx) addressed to recipient at its address set forth on the first page of this lease or to any other address as may be specified by
a party by a notice given as provided herein.
21. NET LEASE AND UNCONDITIONAL OBLIGATION. This lease is a completely net lease and Lessee's obligation to pay rent and amounts payable by Lessee under paragraphs 12 and 18
is unconditional and not subject to any abatement, reduction, setoff or defense of any kind.
22. NON-CANCELABLE LEASE. This lease cannot be canceled or terminated except as expressly provided herein.
23. SURVIVAL OF INDEMNITIES. Lessee's Obligations under sections 3, 7, 8 and 16 shall survive termination or expiration of this lease.
24. COUNTERPARTS. This Agreement may be executed in any number of counterparts, which together shall constitute a single fully executed agreement. There shall be but one sole
'Original" counterpart of this lease, which shall be held by Lessor, and such counterpart will be marked by Lessor "Original.' To the extent that this lease constitutes chattel paper (as that term
is defined by the UCC), a security interest may only be created in the lease marked 'Original" by Lessor.
25. REPRESENTATIONS AND WARRANTIES. Lessee hereby represents and warrants that: (a) if Lessee is a corporation, a partnership, a limited liability company, or other legal entity
the execution, delivery and performance of this lease has been duly authorized by all necessary action on the part of Lessee and will not violate any provision of Lessee's articles of
incorporation, by-laws, partnership agreement, articles of organization, management agreement, as the case may be, and the type and state of incorporation or organization is set forth
on the first page hereof and Lessee will not change Lessee's legal name, state of organization or Lessee's type of entity without Lessor's prior written consent (b) Lessee is duly organized
and existing under the laws of the State in which Lessee is organized and duly qualified and in good standing in each jurisdiction in which the character of Lessee's properties or in which
the transaction of business makes such qualification necessary; (c) this Agreement constitutes Lessee's valid and legally binding obligation and is fully enforceable according to its terms
and the officer executing this Agreement on behalf of Lessee has the corporate power and authority to enter into and perform this Agreement and has been duly authorized by all
necessary corporate action; (d) the Equipment will be used primarily for business purposes as opposed to agricultural purposes or personal, family or household purposes; (e) there are
no pending actions or proceedings to which Lessee has any knowledge which would in the aggregate have a material adverse effect on the financial condition, operations or performance
of Lessee; (D neither Lessor nor any of Lessor's officers or employees is an agent of any supplier or manufacturer of the Equipment and neither supplier or manufacturer nor any of supplier's or
manufacturer's officers or employees is an agent of Lessor's or is otherwise authorized to bind Lessor to any representation, warranty, term, condition or agreement (g) all financial statements
of Lessee heretofore given and hereafter to be given to Lessor are and will be true and complete in all material respects as of their respective dates, and fairly represent and will fairly
represent the financial conditions of Lessee, and no material adverse change of Lessee has or will have occurred in the financial conditions reflected therein after the respective date
thereof upon delivery to Lessor, unless Lessee notifies Lessor in writing of the same; (h) Lessee authorizes Lessor to pay the estimated Amount Advanced as set forth on the first page of
this lease directly to the seller of the Equipment to the extent of the unpaid balance of the purchase price; and (i) Lessee and any other person who owns a controlling interest or
otherwise controls Lessee in any manner is not listed on the Specially Designated Nationals and Blocked Persons Lists maintained by the Office of Foreign Assets Control ('OFAC') or
Initials ___ _
Page 3 of 4
other similar lists maintained by the federal government pursuant to any federal law or regulation regarding a person designated under Executive Order No. 13224, and in compliance
with the Bank Secrecy Act regulations and federal regulations to prevent money laundering . All representations and warranties contained herein shall be continuing in nature and in effect
at all times prior to you satisfying all of your obligations to us under this Agreement.
26. OTHER COVENANTS: Lessee will furnish or cause to be furnished to Lessor during the term of this Agreement: (a) within one hundred and twenty (120) days after the close of each
fiscal year, audited financial statements reflecting Lessee's operations during such fiscal year, including without limitation a balance sheet and profit and loss statement; (b) within forty-
five days (45) of the last day of each March, June, September and December (collectively a 'Quarter-End") other than Lessee's fiscal year-end, unaudited management-prepared
financial statements including without limitation a balance sheet and profit and loss statement; and (c) with respect to any guarantor of Lessee's Obligations, if guarantor is an individual, a
personal financial statement on an annual basis and a copy of such guarantor's personal tax returns when filed, but in no event later than forty-five (45) days from the deadline to file such
personal tax returns, and if guarantor is a corporation, limited liability company or other legal entity, within one hundred and twenty (120) days after the close of each fiscal year of
guarantor, audited financial statements reflecting the operations of guarantor during such fiscal year, including without limitation a balance sheet and profit and loss statement and within
forty-five days (45) of the last day of each Quarter-End other than guarantor's fiscal year-end, unaudited management-prepared financial statements including without limitation a balance
sheet and profit and loss statement. Lessee shall ensure that all such statements are in reasonable detail, prepared in conformity with generally accepted accounting principles, applied
on a basis consistent with that of the preceding year or Quarter-End and if audited statements are required, such statements shall be audited by a certified public accountant acceptable
to Lessor and accompanied by a certificate of Lessee's chief financial officer, or the chief financial officer of guarantor, respectively, which certificate shall state that such financial
statements fairly present the consolidated financial condition and results of operations (subject to normal year end adjustments). Lessee shall also deliver or cause to be delivered such
other information as we may reasonably request from time to time, including without limitation other financial statements and information pertaining to Lessee or any guarantor. Lessor
makes no representation with respect to the income tax consequences of this Lease or any Purchase Option or Purchase Agreement contained herein. Lessor may in its sole discretion
treat the Lease as a sale regardless of how Lessee treats the Lease.
27. JURISDICTION; JURY WAIVER. THIS AGREEMENT SHALL BE GOVERENED BY AND CONSTURED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ALABAMA, OR IF
THIS AGREEMENT IS ASSIGNED BY LESSOR, THE LAWS OF THE STATE WHERE ASSIGNEE'S PRINCIPAL LOCATION IS LOCATED, BOTH EXCLUDING SUCH STATES CHOICE
OF LAW PRINCIPLES. LESSEE AGREES THAT ANY ACTION OR PROCEEDING TO WHICH LESSEE IS A PARTY ARISING FROM OR DIRECL TY OR INDIRECL TY RELATED TO THIS
AGREEMENT, SHALL BE LITIGATED IN ANY STATE OR FEDERAL DISTRICT COURT LOCATED WITHIN SHELBY COUNTY, ALABAMA, OR IF THIS AGREEMENT IS ASSIGNED BY
LESSOR THEN IN SUCH COUNTY AND STATE WHERE ASSIGNEE'S PRINCIPAL OFFICE IS LOCATED AND THAT SAID COURT SHALL HAVE EXCLUSIVE JURISIDCTION THEREOF.
TO THE EXTENT PERMITTED BY APPLICABLE LAW, LESSOR AND LESSEE EACH WAIVE ANY AND ALL RIGHTS TO A TRIAL BY JURY TO ANY ACTION, CLAIM OR SUIT ARISING
OUT OF, RELATING TO, OR BROUGHT IN CONNECTION WITH THIS AGREEMENT.
28. MISCELLANEOUS. Lessor shall not be deemed to have waived any of Lessor's rights hereunder unless such waiver is in writing and signed by Lessor. No delay or omission on the part
of Lessor in exercising any right hereunder shall operate as a waiver of such right or any other right This Agreement constitutes the entire agreement between Lessor and Lessee and may be
modified only by a written instrument signed by Lessor and Lessee. Lessee acknowledges that Lessor is a separate legal entity and distinct from Altec Industries, Inc. Any provision of this lease
which is unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such unenforceability without invalidating the remaining provisions of this lease, and any
such unenforceability in any jurisdiction shall not render unenforceable such provision in any other jurisdiction. In the event there is more than one Lessee named herein, the obligations of each
shall be joint and several.
Lessor: ALTEC CAPITAL SERVICES, LLC Borrower.
By By:
Tffle Title
Rent Commencement Date:
Initials ___ _
Page 4 of 4
Altec Industries, Inc -Extended Limited Warranty Plan
Extension Extension Extension Extension Extension
through end of through end of through end of through end of through end of
1st year. 2nd year. 3rd year. 4th year. 5th year.
TRAVEL** (Day 91-365)
ONLY D Not Available Not Available Not Available Not Available
TRAVEL** (Day 91-730) (Day 91-1095) (Day 91-1460) (Day 91-1825)
LABOR D D D D MATERIALS
LABOR (Day 366-730) (Day 366-1095) (Day 366-1460) (Day 366-1825)
MATERIAL D D D D (no travel)
(Day 366-730) (DT366T95) (Dr 366-
1
1.60) (Day 366-1825)
MATERIAL D D (PARTS ONLY)
**There is a 4-hour, round-trip, maximum for warranty travel.
Covered Unit Serial Number: Sales Order Number: -------------(If more than one unit is to be covered, Exhibit A must be completed and attached)
Extended Limited Warranty Provisions
Subject to the limitations and exclusions expressed in the Altec Limited Warranty, attached hereto, and the
Additional Limitations expressed herein, the term and coverage of the Altec Limited Warranty is extended,
as indicated above.
The Additional Limitations on this Extended Limited Warranty are as follows:
1. Customer must perform all scheduled and preventative maintenance required by the Manufacturer.
Proof of compliance is required and must be submitted to Altec Extended Warranty Administrator.
All maintenance and repairs must be provided by a service provider approved or authorized by the
Manufacturer. Proof of compliance with these requirements may be required before a claim under
this Extended Limited Warranty will be approved.
2. Customer must assure that the covered unit complies with all Service Bulletins, Customer Service
Notices, and Mandatory Action Bulletins issued by the Manufacturer.
3. The Warranty Administrator must approve all work under this Extended Limited Warranty in
advance.
4. The Extended Limited Warranty does not provide coverage for leaking fittings, adjustments, or wear
components (which may include, but are not limited to ropes, light bulbs, Kelly bars, augers, oil,
grease, filters, batteries and lubricants).
5. Altec will only warrant accessory items that are private labeled by Altec.
Extended Warranty Administrator
Altec Service Group
P.O. Box 8338
St. Joseph, MO 64508-9972
1-877-462-5832
Extended.Warranty @Altec.com
Form Revision 2.5 (Jan 1, 20 13)
Limited Warranty
Products designed and manufactured by Altec Industries, Inc. are warranted to be free
from defects in material and workmanship at the time of initial delivery subject to the
following provisions:
For one (1) year following initial delivery of the product, Altec will, at its
option, repai r or replace any part found by Altec to be defective in material
or workmanship at the time of initial delivery. During the first ninety (90)
days following initial delivery, no charge for parts, labor or travel to the
customer's location shall be made for such repair or replacement at the
customer's location. During the remainder of such one (1) year, no charge
for parts or labor shall be made for such repair or replacement at an Altec
service facility.
For so long as the initial purchaser owns the product, Altec will, at its
option, repair or replace any of the following major components found by
Altec to be structurally impaired due to defects in mate rial or workmanship
which existed atthe time of initial delivery: booms, boom articulation links,
hydraulic cylinder structures, outrigger weldments, pedestals, subbases,
turntables, body structures, and reel lifting arms. No charge for parts or
labor shall be made for such repair or replacement when performed at an
Altec service facility. The limited warranty in this paragraph (2) does not
cover wear components.
This limited warranty does not cover: (a) products which have not been
operated and maintained in accordance with Altec operators and mainte-
nance manuals, programs and bulletins; (b) products which have not been
mounted in accordance with Altec installation procedures; (c) products
not manufactured by Altec which are supplied by Altec on special order;
(d) products which are repaired without using original Altec parts; or (e)
transportation or delivery to an Altec service facil ity or the customer's
location.
This limited warranty is expressly in lieu of any other warranties, express or implied,
including, but not limited to, any warranty of merchantability or fitness for a particular
purpose. Except as specified above, no associate, agent or representative of A/tee is
authorized to extend any warranty on A/tee's behalf. Remedies under this limited war-
ranty are expressly limited to the provision and installation of parts and labor, as speci-
fied above, and any claims for other loss or damages of any type (including, but not
limited to, loss from failure of the product to operate for any period of time, other eco-
nomic or moral loss, or direct, immediate, special, indirect, incidental or consequential
damage) are expressly excluded.
Revised 3-96 ec
Form Revision 2.5 (Jan 1, 2013)
Altec Sales Contact Information:
Account Manager: ________________ Phone: __________ _
Inside Sales Representative: _____________ Phone: __________ _
Customer Information:
Customer:
--------------~
Fleet Contact: --------------
Mailing Address: _____________________________ _
Phone:('-__ ) _____ Fax: ('-__ ) _____ Email: _________ _
Alternate Fleet Contact: -------------
Alt. Phone:(~_~) _____ Alt. Fax: (~ __ ) ____ Alt. Email: ______ _
Acknowledgement: Customer has read and acknowledges the provisions of the Altec Extended
Limited Warranty program as set forth herein.
Customer Signature Date
Form Revision 2.5 (Jan 1, 201 3)
Exhibit A
Altec model
~~~~~~~~~~~
List the Altec Serial Numbers of all units to be covered under the Altec Extended Limited Warranty.
Acknowledgement: Customer has read and acknowledges provisions of the Altec Extended Limited Warranty.
Customer Name (Printed) Customer Title
Customer Signature Date
Form Revision 2.5 (Jan 1, 20 13)
Altec Capital Services
33 Inverness Center Parkway
Suite 200
Birmingham, Alabama 35242
March 30, 2016
AM60 Finance Amount Term $1 out TRAC 20%TRAC 30%FMV
$252,850.00 60 $4,759 $4,077 $3,702 $3,893
AA67 Finance Amount Term $1 out TRAC 20%TRAC 30%FMV
$238,047.00 60 $4,480 $3,839 $3,485 $3,699
-Payments are based on 5 and 6 year swap rates as of Feb 2016. Pricing will adjust based on 5 like term swaps.
-Payments do not include sales tax or license fees.
-Please note that this quote is based on credit approval and rates are subject to change.
-This quote is valid for fourteen days. An updated quote will be necessary if the lease acceptance date is after the fourteen day period.
Estimated Lease Quote for
Altec Trucks
Altec Capital Services is pleased to offer you financing for all your
equipment needs. We are pleased to offer you the following:
City of Palo Alto
-This quote is valid for fourteen days. An updated quote will be necessary if the lease acceptance date is after the fourteen day period.
-Documentation fee may apply.
Requirements:
1. Insurance: Property damage insurance to cover the value of the unit. A Minimum of $1,000,000 Auto & General liability insurance must be maintained. Proof of insurance must be furnished to Altec Capital.
2. Physical Damage Insurance: Altec Capital offers physical damage insurance for a low competitive rate on any lease structure. This is optional coverage offered by ACS which is designed to help
mitigate your risk. Deductibles will apply and does not cover your general or auto liability. Contact your account manager for more information.
-You can obtain an ACS Credit Application by contacting our office at the number listed below or apply online at www.alteccapital.com.
-For transactions that exceed $150,000, two years' audited and interim financial statements are required in addition to two years tax returns and possible financial statements from the
Guarantors / Shareholders.
A TRAC lease is designed to provide a low fixed payment for the term of the lease and a pre-determined buy out or turn in option at lease maturity. The standard buyout
for a 60 month lease is 20% of the capitalized cost (20% Balloon). The lessor (Altec Capital) will be titled owner throughout the term.
The $1 out lease is designed to provide a low fixed payment throughout the term of the lease. The lessee is the titled owner and the lessor (Altec Capital) is a
lienholder. Upon receipt of all payments owed, the lien will be released and the lessee will take ownership.
Account Manager: Eric McKay
Phone (949) 486-9160
Fax: (205) 408-8113
Email: eric.mckay@altec.com Quote Provided By: PSB
Contact your account manager or call (888) 408-8148 for any questions you have regarding this quote.
Altec Capital Services is the Industry-leading finance company for Altec, Inc. Because we understand each individual customer, Altec Capital offers the most convenient and
economical finance solutions, making it possible for you to meet all your equipment needs.
TRAC Lease TRAC Lease
$1 out Lease
Attachment B
Altec Finance Amount For Model AM-60:
$252,850.00/60 month term
Attachment C
$1 Out TRAC 20%TRAC 30%FMV
monthly $4,759.00 $4,077.00 $3,702.00 $3,893.00
sales tax 8.75%$416.41 $356.74 $323.93 $340.64
total $5,175.41 $4,433.74 $4,025.93 $4,233.64
$5,175.41 $4,433.74 $4,025.93 $4,233.64
60 mos. total $310,524.60 $266,024.40 $241,555.80 $254,018.40
buy out $1.00 $50,570.00 $75,855.00 (fair market value)
total $310,525.60 $316,594.40 $317,410.80
Opportunity Number:59785
Quotation Number:294125-2
NJPA Contract #: 031014-ALT
Date:3/7/2016
REFERENCE ALTEC MODEL
Overcenter Aerial Device with Material Handling (Insulated)$185,462
Per NJPA Specifications plus Options below
(A.)
1
2
3
(A1.)
1 CH Cone Holder, Fold Over Post Style $236
2 RL COMPARTMENT LIGHTS in Body Compartments (Rope Style) $680
3 PSWI2 PURE SINE WAVE INVERTER.2400 Watts Continuous. GFCI Outlet at Rear. $2,525
4 VRI 120 Volt GFCI Receptacle, Includes Weather-Resistant Enclosure (2 additional)$396
5 SPOT3 FOUR (4) POINT STROBE SYSTEM (Recessed, LED)$477
6
7
8
NJPA OPTIONS TOTAL:$189,775
(B.)
1 UNIT N/A $0
2 UNIT & HYDRAULIC ACC N/A $0
3 BODY Altec Steel 156" Body with Custom Compartments and 18" Steel Tailshelf $16,150
4 BODY & CHASSIS ACC
Set Of D-Rings for Trailer Safety Chain, Glad Hands At Rear, Two (2) Cable Steps Installed At Rear,
Compartment Top Access Step from Body Floor, Pendulum Retainers For Outrigger Pad Holders,
Wheel Chocks, U-Shaped Grab Handle, Top Opening Box 14"H x 12"D x 66"L, Steel Battery Box $5,264
5 ELECTRICAL
Custom Light Bar, Two (2) Deep Cycle Auxiliary Batteries and Two (2) Battery Boxes, Custom Cab
Controls, PTO Indicator Light Installed in Cab $4,140
6 FINISHING N/A $0
7 CHASSIS 2017 Peterbilt 348 ILO 2014 International $13,730
8 OTHER Regional Build $5,565
OPEN MARKET OPTIONS TOTAL:$44,849
SUB-TOTAL FOR UNIT/BODY/CHASSIS:$234,624
5-Year Large Aerial Warranty $6,010
5-Year Chassis Warranty $3,971
5-Year Transmission $499
5-Year Rear Axle $550
5-Year Engine Warranty $2,700
Interval PM Inspection/Scheduled Maintenance (5 Years)$3,050
Dielectric Test for Cat B/C Boom (5 Years)$1,250
Delivery to Customer:$196
TOTAL FOR UNIT/BODY/CHASSIS:$252,850
(C.)
1
2
3
4
**Pricing valid for 60 days**
NOTES
PAINT COLOR: White to match chassis, unless otherwise specified
TRADE-IN: Equiptment trades must be received in operational condition (as initial inspection) and DOT compliant at the time of pick-up. Failure to
comply with these requirements, may result in customer bill-back repairs.
BUILD LOCATION: Dixon, CA
CHASSIS: Per Altec Commercial Standard
DELIVERY: No later than 330-360 days ARO, FOB Customer Location
TERMS: Net 30 days
BEST VALUE: Altec boasts the following "Best Value" features: Altec ISO Grip Controls for Extra Protection, Only Lifetime Warranty on Structural
Components in Industry, Largest Service Network in Industry (Domestic and Overseas), Altec SENTRY Web/CD Based Training, Dedicated/Direct Gov't
Sales Manager, In-Service Training with Every Order.
WARRANTY: Standard Altec Warranty - One (1) year parts warranty One (1) year labor warranty Ninety (90) days warranty for travel charges (Mobile
Service) Limited Lifetime Structural Warranty. Chassis to include standard warranty, per the manufacturer. (Parts only warranty on mounted equipment
for overseas customers) TO ORDER: To order, please contact the Altec Inside Sales Representative listed above.
Altec Industries, Inc.
NJPA OPTIONS ON CONTRACT (Unit)
NJPA OPTIONS ON CONTRACT (General)
OPEN MARKET ITEMS (Customer Requested)
ADDITIONAL ITEMS (items are not included in total above)
AM60
Quoted for: City of Palo Alto
Customer Contact:
Phone: /Fax: /Email:
Quoted by: Rhawnie Kraak
Altec Account Manager: Don Hildebrandt
Phone: (707) 693-2578 Email: Rhawnie Kraak
NJPA_Q294125.xlsx
Attachment D
Opportunity Number:60000
Quotation Number:288914
NJPA Contract #: 31014
Date:3/30/2016
REFERENCE ALTEC MODEL
Non-Overcenter Aerial Device with Material Handling (Insulated)$172,033
Per NJPA Specifications plus Options below
(A.)
1 AA60-US60 60' Boom Height (AA60)$5,063
2
3
4
5
(A1.)
1 SPOT4 SIX (6) POINT STROBE SYSTEM (Recessed, LED)$664
2
3
4
5
6
7
8
NJPA OPTIONS TOTAL:$177,760
(B.)
1 UNIT
67' Boom Height with a Single with Two-Man Platform & Automatic Boom Stow, Whelen L31HAFCA
Strobe Light Installed on Boom $8,334
2 UNIT & HYDRAULIC ACC N/A
3 BODY
Custom Aerial Service Line Body With Step, 24"L Tailshelf, Outrigger Valve Guards, Battery Storage
Beneath Side Access Step and 3" Retaining Rail $12,659
4 BODY & CHASSIS ACC N/A
5 ELECTRICAL
Altec Backup Camera System, 7'' Color LCD Monitor, Heated Infrared Camera with Day/Night Sensor
and Audio $1,773
6 FINISHING N/A $0
7 CHASSIS 2017 Peterbilt 348 ILO 2014 International $13,730
8 OTHER Regional Build $5,565
OPEN MARKET OPTIONS TOTAL:$42,061
SUB-TOTAL FOR UNIT/BODY/CHASSIS:$219,821
5-Year Large Aerial Warranty $6,010
5-Year Chassis Warranty $3,971
5-Year Transmission $499
5-Year Rear Axle $550
5-Year Engine Warranty $2,700
Interval PM Inspection/Scheduled Maintenance (5 Years)$3,050
Dielectric Test for Cat B/C Boom (5 Years)$1,250
Delivery to Customer:$196
TOTAL FOR UNIT/BODY/CHASSIS:$238,047
(C.)
1
2
3
**Pricing valid for 60 days**
NOTES
Altec Industries, Inc.
NJPA OPTIONS ON CONTRACT (Unit)
NJPA OPTIONS ON CONTRACT (General)
OPEN MARKET ITEMS (Customer Requested)
ADDITIONAL ITEMS (items are not included in total above)
AA55
Quoted for: Rhawnie Kraak
Customer Contact: Scott Williams
Phone: (650) 496-6933
Quoted by: Rhawnie Kraak
Altec Account Manager: Don Hildebrandt
Phone: (707) 693-2578 Email: rhawnie.kraak@altec.com
PAINT COLOR: White to match chassis, unless otherwise specified
TRADE-IN: Equiptment trades must be received in operational condition (as initial inspection) and DOT compliant at the time of pick-up. Failure to comply
with these requirements, may result in customer bill-back repairs.
BUILD LOCATION: Dixon, CA
CHASSIS: Per Altec Commercial Standard
DELIVERY: No later than 330-360 days ARO, FOB Customer Location
TERMS: Net 30 days
BEST VALUE: Altec boasts the following "Best Value" features: Altec ISO Grip Controls for Extra Protection, Only Lifetime Warranty on Structural
Components in Industry, Largest Service Network in Industry (Domestic and Overseas), Altec SENTRY Web/CD Based Training, Dedicated/Direct Gov't
Sales Manager, In-Service Training with Every Order.
WARRANTY: Standard Altec Warranty - One (1) year parts warranty One (1) year labor warranty Ninety (90) days warranty for travel charges (Mobile
Service) Limited Lifetime Structural Warranty. Chassis to include standard warranty, per the manufacturer. (Parts only warranty on mounted equipment
for overseas customers) TO ORDER: To order, please contact the Altec Inside Sales Representative listed above.
Attachment E