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Government Leasing and Finance, Inc. <br />February 16, 2023 <br />City of San Marcos <br />Res �0- (�DJ. -C F . <br />At your request, U.S. Bancorp Government Leasing and Finance, Inc. ("USBGLF") has prepared for your consideration the <br />following proposal for financing ("Proposal'). This is only a proposal and does not represent a commitment by U.S. Bancorp <br />Government Leasing and Finance, Inc. <br />Lessor: U.S. Bancorp Government Leasing and Finance, Inc. <br />Lessee: City of San Marcos <br />Equipment: 2024 Freightliner 114SD Vac Truck <br />Expiration: May 15, 2023 <br />Proposed Structure and Payment Options: <br />Cost <br />Interest Rate <br />Payment <br />Pmts / Yr <br />I Term <br />Adv / Arr <br />504,805.82 <br />4.68% <br />184,258.59 <br />1 <br />3 Years <br />Arr <br />504,805.82 <br />4.62% <br />115,375.34 <br />1 <br />5 Years <br />Arr <br />504,805.82 <br />4.62% <br />86,042.87 <br />1 <br />7 Years <br />Arr <br />Notes: There are no fees associated with this offer, including a U.S. Bank, N.A. escrow account. Prepayment is permitted after 13 <br />months at 103% of remaining principal. <br />The Lease will be structured as a tax-exempt municipal lease, with title in the Lessee's name and USBGLF holding a security <br />interest in the equipment during the term. The lease is "triple -net" with the Lessee responsible for taxes, maintenance and <br />insurance. Documentation will be provided by USBGLF, including (i) standard representations, warranties and covenants by the <br />Lessee pertaining to the accuracy of information, organization, authority, essential use, compliance with laws, pending legal <br />action, location and use of collateral, insurance, financial reporting and financial covenants; and (ii) standard USBGLF provisions <br />pertaining to events of default and remedies available upon default. This offer is subject to the execution of all documentation by <br />the Lessee within a reasonable time and in form and substance acceptable to Lessee, USBGLF and USBGLF's counsel, including <br />terms and conditions not outlined in this Proposal. <br />This Proposal is conditioned on there being no material adverse change in the financial condition of the Lessee. Additionally, the <br />terms and conditions outlined herein are subject to final review and approval (including collateral and essential use review) by <br />USBGLF's business, legal, credit, and equipment risk management personnel. <br />Sincerely, <br />Tasha garroLt <br />Tasha Barreau <br />Vice President <br />P: 303.330.4160 <br />Email: tasha.barreau@Usbank.com <br />use <br />