HomeMy WebLinkAboutAgreement_General_03/27/2009 (2)SUNTRUST EQUIPMENT FINANCE & LEASING CORP.
EXHIBIT NO. 1 to EQUIPMENT SCHEDULE NO. 01
AUTHORIZATION AGREEMENT FOR DIRECT PAYMENT
This Authorization Agreement for Direct Payment ("ACH Agreement") is being entered into as of this 17th day
of March ,2009, by ("Lessee") in favor of SUNTRUST EQUIPMENT FINANCE & LEASING CORP. ("Lessor') in
connection with that certain Equipment Schedule No. 01 ,dated as of the date hereof, incorporating by reference the
terms and conditions of the Equipment Lease Agreement No. 1807 dated as of 02/13/2003 both between Lessee and
Lessor (collectively, the "Lease'). As a condition to Lessor's agreement to enter into the lease transaction contemplated
in the Lease, Lessee acknowledges and agrees as follows:
AUTHORIZATIONS.
1.1 Authorization to Lessor. lessee hereby requests and authorizes Lessor to draw payment
periodically, as the same becomes due under the Lease, such payments to be charged against Lessee's account (the
"Account") at the depository/bank (the "Bank"), as indicated below; and such payment shall be charged against the
account to cover the rental payments, tax escrow payments and other amounts due under the Lease, in accordance with
the terms and conditions thereof.
1.2 Authorization to the Bank. The Bank is hereby authorized to pay from the Account and debit the
Account with respect to all payments purporting to be drawn on Lessee's behalf, payable to Lessor, and presented to the
Bank for payment. Such payment will be in the form of computer-produced paper or electronic entry, in which case the
Bank is authorized to treat them as if they were signed by the Lessee.
1.3 Deductions Made in Error. Lessee shall have the right to be paid immediately by the Bank for the
amount of any erroneous deduction provided that Lessee notifies the Bank about such erroneous deduction within fifteen
(15) days after Lessee's account statement is issued or forty-five (45) days after the deduction was made by notifying
Lessor in the manner provided under the Lease.
1.4 Changes to the Account. If the Account is transferred to another branch, Lessee's authorization
provided in this ACH Agreement shall be directed to such branch and shall be of the same force and effect a if it had
been originally delivered to that branch. This authorization may be revoked by the undersigned giving at lea 10)
days' written notice to Lessor and Lessor's and Lessee's mutual agreement to an alternative payment method
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1.5 Confirmation of Responsibility. Lessee hereby confirms all of its acknowl men~tj
agreements made with respect to direct debit payments as provided in the Lease, and the provisi ~, this ACF1
Agreement shall not be deemed to be a modification thereof. F ,; ,/ ~~.
2. ACCOUNT INFORMATION. Lessee hereby certifies all of the following with
(a) the name of the Bank is: t ~w\~ i1t PCMQC\(~(il ~
(b) the Bank's address is: ~, TOCi:)(Z~K=I Q _.""Ii2LAr~eS_t!_'...
(c) the account number of the Account is: ~
(d) the ABA routing number for the Account is:
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3. TERM OF THIS ACH AGREEMENT. This authorization is to remain in full force and effect until Lessor
has received written notification from Lessee of its termination of this authority in such time and in such manner as to
afford Lessor and Bank a reasonable time to adjust to such termination, but in no event earlier than ten (10) days after
Lessor's receipt of such notice; provided, however, Lessee shall not be entitled to revoke its authorization hereunder at
any time during the occurrence of a Default (as defined in the Lease) and, in any event, this ACH Agreement shall survive
any cancellation, expiration or termination of the Lease (including any Equipment Schedule) until all amounts payable
thereunder are paid in full, in good and indefeasible funds. Lessor and Bank shall be deemed third-party beneficiaries of
this ACH Agreement, notwithstanding their not being a signatory hereto. This ACH Agreement shall be binding upon and
inure to [he benefit of the parties hereto and other beneficiaries hereof and their respective successors and assigns.
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WITNESS: Village of Teouesta, FL
Lessee
By:
Name:
Title: ~ ~-
ACH AGREEMENT