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knkofAnxdc. <br /> SUMMARY OF TERMS AND CONDITIONS <br /> Equipment Lease- Maintenance Equipment <br /> Wit: November 8, 2010 <br /> Lessee: City of Pleasanton, CA <br /> Leers r: Bank of America N.A. ( "Lessor") <br /> Eeuiprnent: Maintenance Equipment <br /> Maximum Purchase Price: $630,600.00 <br /> Lease <br /> Structure: This is a lease purchase agreement whereby a lien on the equipment will be taken as collateral. <br /> Qualification: Bank Qualified <br /> Lease term: Five (5) years from funding <br /> Utilization Period <br /> Expiration D te: The latest date for any advances will be 1 year from date of credit approval. <br /> Tax Exempt <br /> Rates: <br /> Payments can be made on a quarterly basis in arrears. Indicative interest rate and its formula listed <br /> below. <br /> 2.340% 5 year, Tax Exempt, Fixed <br /> Formula: 3 year Treasury Swap X 65% +1.90 basis points <br /> The above rate has been locked for a maximum of 60 days from the date of this Term Sheet. <br /> Should the funding occur after such date, the final rate will be fixed at funding according to the <br /> Formula above, however, in no event will the interest rate be lower than the 'locked" rate. Rates <br /> are based on a 30/360 day year. <br /> Index: U.S. Treasury Swap Rates for 3 Years (.68 %), as of November 4, 2010. <br /> End of <br /> Term Option: At the expiration of the Lease Term, Lessee will purchase for $1. <br /> Pre Payment; Lessee may not prepay the Lease for the first one -half of the Lease Term. After this date, Lessee may <br /> prepay the remaining balance, a penalty of 1 %, and all other amounts accrued and owed. <br />