ADDENDUM NO. 1
TO
RENEWAL RENTAL SCHEDULE AND ACCEPTANCE CERTIFICATE NO. A-10RN1
TO MASTER LEASE AGREEMENT NO. 9003NJG407 (the "Master Lease")
DATED AS OF APRIL 20, 1990
This Addendum No. 1 hereby amends and renames Renewal Rental Schedule and
Acceptance Certificate No. A-10RN1 (the "Renewal Rental Schedule") between
American Income Fund I-B, a Massachusetts Limited Partnership, as lessor and
Quanterra Inc., as lessee.
The Renewal Rental Schedule is hereby renamed Renewal Rental Schedule and
Acceptance Certificate No. A-10RN2 (the "Renamed Renewal Rental Schedule").
As set forth on the attached Schedule A, the Lease expiration date is
changed from May 31, 1999 to December 31, 1999, and the Periodic Rent is
adjusted from $3,250.00 to $3,093.00 beginning with the payment of Basic Rent
due on January 1, 1997 and continuing monthly in advance thereafter through and
including December 1, 1999 with respect to the Equipment leased hereunder as
described on the attached Schedule B.
IN WITNESS WHEREOF the parties hereto have caused this Addendum No. 1 to
be executed and delivered by their duly authorized representatives as of this
1st day of January, 1997.
AMERICAN INCOME FUND I-B
LIMITED PARTNERSHIP
Lessor
By: AFG Leasing VI Inc.
Title: General Partner
By: /s/ Gail Ofgant
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Title: VP & Authorized Signer
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QUANTERRA INC.
Lessee
By: /s/ Debbie Pentik
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Title: Purchasing Manager
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LLR4OD-O1 EQUIS FINANCIAL GROUP 1/10/97 17:11:54 PAGE 1
Schedule A - Rental Schedule Economics
LESSEE: ENSECO INCORPORATED
LESSOR: EQUIS FINANCIAL GROUP
RENTAL SCHEDULE: A-10RN2
LEASE TERM (months): 36
PRIMARY START DATE: 1/01/1997
LEASE EXPIRATION DATE: 12/31/1999
PAYMENT FREQUENCY: MONTHLY
ADVANCE/ARREARS: ADVANCE
LEASE RATE: .008160950
PER DIEM LEASE RATE: .000272032
PERIODIC RENT: $3,093.00
NUMBER OF PAYMENTS: 36
TOTAL INTERIM RENT: $.00
PAYMENT COMMENCEMENT DATE: 1/01/1997
TOTAL EQUIPMENT COST: $379,000.00
DOCUMENTATION FEE: $20.00
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DP LESSEE INITIALS
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GDO LESSOR INITIALS
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ATF#: ENS-95RMKT
EXHIBIT 2
RENEWAL RENTAL SCHEDULE NO. A-7RN1 (the "Renewal Rental Schedule")
DATED AS OF JANUARY 1, 1996
TO MASTER LEASE AGREEMENT NO. 9003NJG407 (the "Master Lease")
DATED AS OF APRIL 20, 1990
LESSOR LESSEE
AMERICAN INCOME FUND I-B, QUANTERRA INCORPORATED
A MASSACHUSETTS LIMITED PARTNERSHIP 4955 YARROW ST
c/o AMERICAN FINANCE GROUP ARVADA, CO 80002
98 NORTH WASHINGTON ST
BOSTON, MA 02114
1. LEASE TERM. PAYMENT DATES.
This Renewal Rental Schedule, between American Finance Group, as lessor,
lessor's interest therein having been previously sold and assigned to the
above-referenced Lessor and Lessee incorporates by reference the terms and
conditions of the Master Lease. Lessor hereby leases to Lessee and Lessee hereby
leases from Lessor those items of Equipment described on the attached Schedule
B, for the Renewal Lease Term and at the Renewal Term Basic Rent payable on the
Payment Dates hereinafter set forth on the attached Schedule A, on the terms and
conditions set forth in the Master Lease.
2. BASIC RENT.
Renewal Term Basic Rent is computed by multiplying the Total Equipment
Cost by the Renewal Lease Rate set forth on the attached Schedule A.
3. STIPULATED LOSS VALUE.
Notwithstanding the provision of Section 5 of the Master Lease, the Stipulated
Loss Value for the Equipment during the Renewal Lease Term shall be equal to
$10,000.00.
4. LESSEE'S OPTION AT RENTAL SCHEDULE EXPIRATION.
At the expiration of the Renewal Lease Term, upon (60) days prior written
notice to Lessor, Lessee has the option to purchase all, but not less than all,
items of Equipment leased pursuant to this Rental Schedule for $995.O0. If
Lessee fails to give Lessor (60) days written notice, the Renewal Lease Term
may, at Lessor's option, be extended and continue until (60) days from the date
Lessor receives written notice of Lessee's decision to purchase the Equipment.
5. ENTIRE AGREEMENT. MODIFICATION AND WAIVERS. EXECUTION IN COUNTERPARTS.
This Renewal Rental Schedule and the Master Lease constitute the entire
agreement between Lessee and Lessor with respect to the leasing of the
Equipment. Lessee hereby represents, warrants and certifies that the
representations and warranties of Lessee set forth in the Master Lease are true
and correct as of the date hereof. Capitalized terms not defined herein shall
have the meanings assigned to them in the Master Lease. To the extent any of the
terms and conditions set forth in this Renewal Rental Schedule conflict with or
are inconsistent with the Master Lease, this Renewal Rental Schedule shall
govern and control. No amendment, modification or waiver of this Renewal Rental
Schedule or the Master Lease will be effective unless evidenced in writing
signed by the party to be charged. This Renewal Rental Schedule may be executed
in counterparts, all of which together shall constitute one and the same
instrument.
RENEWAL RENTAL SCHEDULE NO. A-7RN1
PAGE TWO
The undersigned, being the duly authorized representative of the Lessee, hereby
certifies that the items of Equipment described on the attached Schedule B have
been duly delivered to the Lessee in good order and duly inspected and accepted
by the Lessee as conforming in all respects with the requirements and provisions
of the Master Lease, as of the Renewal Term Commencement Date stated on the
attached Schedule A.
AMERICAN INCOME FUND I-B,
A MASSACHUSETTS LIMITED PARTNERSHIP QUANTERRA INCORPORATED
Lessor Lessee
By: AFG LEASING VI INCORPORATED By: /s/ [Illegible]
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Title: General Partner Title: Director of Purchasing
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By: /s/ [Illegible]
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Title: Manager
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COUNTERPART NO. 1 OF 2 SERIALLY NUMBERED MANUALLY EXECUTED COUNTERPARTS.
TO THE EXTENT IF ANY THAT THIS DOCUMENT CONSTITUTES CHATTEL PAPER UNDER
THE UNIFORM COMMERCIAL CODE, NO SECURITY INTEREST MAY BE CREATED THROUGH
THE TRANSFER AND POSSESSION OF ANY COUNTERPART OTHER THAN COUNTERPART NO. 1
LLR40D-01 AMERICAN FINANCE GROUP 1/17/96 15:39:33 PAGE 1
Schedule A - Rental Schedule Economics
LESSEE: ENSECO INCORPORATED
LESSOR: AMERICAN FINANCE GROUP
RENTAL SCHEDULE: A-7RN1
LEASE TERM (months): 24
PRIMARY START DATE: 1/01/1996
LEASE EXPIRATION DATE: 12/31/1997
PAYMENT FREQUENCY: MONTHLY
ADVANCE/ARREARS: ADVANCE
LEASE RATE: .006880734
PER DIEM LEASE RATE: .000229358
PERIODIC RENT: $375.00
NUMBER OF PAYMENTS: 24
TOTAL INTERIM RENT: $.00
PAYMENT COMMENCEMENT DATE: 1/01/1996
TOTAL EQUIPMENT COST: $54,500.00
DOCUMENTATION FEE:
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/s/ E H LESSEE INITIALS
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/s/ GDO LESSOR INITIALS
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LLR41D-01 AMERICAN FINANCE GROUP 1/17/96 15:39:37 PAGE 1
Schedule B Equipment Description
LESSEE: ENSECO INCORPORATED
RENTAL SCHEDULE AND ACCEPTANCE CERTIFICATE NUMBER: A-7RN1
LESSOR: AMERICAN FINANCE GROUP
Acceptance
Equipment Cost Serial Number Year Manufacturer Model Type Date
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13,500.00 VG INSTRUMENTS A/D PN CS4001 1 FOUR CHANNEL CHROM SERV 1/01/1996
13,500.00 VG INSTRUMENTS A/D PN CS4001 1 FOUR CHANNEL CHROM SERV 1/01/1996
13,500.00 VG INSTRUMENTS A/D PN CS4001 1 FOUR CHANNEL CHROM SERV 1/01/1996
14,000.00 VG INSTRUMENTS PN CS1618 GC CONTROL BOARD 1/01/1996
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54,500.00 Total for Location 2200 COTTONTAIL LN SOMERSET NJ 08873
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54,500.00 Total Equipment cost
L2R13D AMERICAN FINANCE GROUP 12/27/95 10:16:57 PAGE 1
ASSET ACTIVITY CHECKLIST REPORT
PREPARED BY: DEBORAH SIMPSON
APPROVALS: GDO /
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TYPE 0F TRANSACTION
(X) RENEWAL LEASE ( ) CASUALTY AT STIPULATED LOSS VALUE
( ) SALE TO ORIGINAL USER ( ) EARLY TERMINATION
( ) SALE TO THIRD PARTY USER ( ) WAREHOUSE OF ASSETS
( ) OTHER
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PRIMARY TERM DATA
ORIGINAL LESSEE ENSECO INCORPORATED
STREET ADDRESS 1 2200 COTTONTAIL LN
STREET ADDRESS 2
CITY, STATE, ZIP SOMERSET NJ 08873
CONTACT NAME BOB GEORGE
PHONE NUMBER 216-497-9396 FAX NUMBER
MASTER LEASE NUMBER 9003NJG407
LEASE DATE 4/20/1990
RENTAL SCHEDULE A-9
START DATE 3/01/1991
EXPIRATION DATE 2/28/1995
PAYMENT FREQUENCY M/ADV
LEASE RATE FACTOR .022420000
ASSUMED DEBT RATE 8.8500
TREASURY RATE .00
LENDER/LOAN NUMBER
EQUITY OWNER(S) 1063
100.000000000
1 (X) ORIGINAL TITLES NA 3 (X) STOP BILL FORM
2 (X) PRODUCE IRR REPORT 4 (X) COLLATERAL DOCS REQUESTED NA
I. WAREHOUSE DATA (SEE ATTACHED EQUIPMENT LIST)
WAREHOUSE COST $
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DATE WAREHOUSED STOP BILL DATE
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L2R13D AMERICAN FINANCE GROUP 12/27/95 10:16:57 PAGE 2
ASSET ACTIVITY CHECKLIST REPORT
II. EQUIPMENT SALE DATA (SEE ATTACHED EQUIPMENT AND PRICE LIST)
NEW LESSEE OR BUYER
STREET ADDRESS 1
STREET ADDRESS 2
CITY, STATE, ZIP
CONTACT NAME
PHONE NUMBER FAX NUMBER
SALE TYPE BS LS OS RS
TAX EXEMPTION STATUS YES NO EXEMPTION NUMBER
TOTAL SALE PRICE $ BROKERAGE FEE $
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SALE DATE/STOP BILL DATE
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1 ( ) CREATE MEMO CODE 6 ( ) CHANGE MEMO CODE
2 ( ) AS/400 INPUT 7 ( ) REMOVE RS COUNTERPART
3 ( ) MISCELLANEOUS INVOICE IF ALL ASSETS ARE SOLD
4 ( ) PRODUCE DOCUMENTS/SEND TO BUYER 8 ( ) PREP FOR SCANNING
5 ( ) RECEIPT OF PAYMENT 9 ( ) FINAL DOCUMENTS TO BUYER
III. RENEWAL DATA (ATF MAY NEED TO BE CREATED)
NEW RENTAL SCHEDULE A-9RN1 TERM 24
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START DATE 1-1-96 EXPIRATION DATE 12-31-97
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PAYMENT FREQUENCY M/ADV [Circled] Q/ADV S/ADV A/ADV M/ARR
Q/ARR S/ARR A/ARR
STIPULATED LOSS VALUE $ 30,000.00 LRF/RENT $ /$ 1150.00
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SEND DOCUMENTS TO LESSEE END OF LEASE OPTIONS purchase option-
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$2500.00 1-1-98
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1 (X) AS/400 INPUT 5 ( ) ACTIVATION REPORT
2 (X) UPDATE EQUITY OWNER 6 ( ) PREP FOR SCANNING
3 (X) PRODUCE DOCUMENTS/SEND TO LESSEE 2/7/96 7 ( ) FINAL DOCUMENTS TO LESSEE
4 (X) REQUEST UPDATED INSURANCE on file
IV. NOTES, COMMENTS AND OTHER INFORMATION
(*) Need to credit 86586 & 84383
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L2R14D AMERICAN FINANCE GROUP 12/27/95 10:16:58 PAGE 1
ASSET ACTIVITY REPORT -- EQUIPMENT DESCRIPTION
LESSEE: ENSECO INCORPORATED
RENTAL SCHEDULE: A-9
Asset Equipment Cost Serial Number Manufacturer Model Type Status Bill Code
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0010342 119,911.00 ICAP 61E AIR SPECTROMETER LEASE C000l
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119,911.00 Total for Location 4955 YARROW ST ARVADA CO 80002 CODE C0001
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119,911.00 Total Equipment Cost
** END OF REPORT **
====================
Facsimile Quanterra Incorporated [Quanterra LOGO]
Transmittal 4955 Yarrow Street Environmental
Arvada, CO 80002 Services
Phone: (303) 421-6611
Fax: (303) 467-9136
Date: 12/6/95
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Deliver To: Debbie Simpson
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Company: Amer. Finance Group
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Fax Number: (617) 523-1410
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From: E. [Illegible]
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Number of Pages (Including This Page) 1
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If you did not receive all pages, please call (303) 421-6611.
Comments:
Please Review Rental Schedule A-9 (ICAP 61E) For A 2 Yr
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Term And Schedule A-7 For The Same, If Possible. If Not
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Then A-7 For 1 Yr. Our Preference, If At All Possible, For A-7
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Is Two Yrs.
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Can We Have These Effective 1-1-96??? We Must! Please let me know
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Thanks
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[Illegible]
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2
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Confidentiality Notice:
The documents accompanying this telecopy transmission contains confidential
information which is [Illegible] privileged. The information is intended only
for use of the recipient [Illegible] above. If you [Illegible] received
[Illegible] in error, please notify us immediately by telephone to arrange for
the return of the documents to us, and you are hereby notified that any
[Illegible] distribution, [Illegible] is strictly prohibited.
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PERFORMANCE SUMMARY SHEET
ACCT MGR: DEBBIE SIMPSON
LSCODE: ENSECO (QUANTERRA INC.)
RSCODE: A-9
EOCODE: 1063-AIF I-C LP
EQTYPE: 17
DESC: AIR SPECTROMETER
ORIGINAL OEC: $119,911.00
CURRENT OEC: $119,911.00
TERM: 48
FRQ (M/12 Q/4 S/2 A/1): 12
ADV (1) ARR (2): 1
LEASE RATE: 0.02242
T-RATE: 7.56%
T-RATE + SPREAD 8.30%
PRESENT VALUE: 92.00%
HISTORICAL IRR: 11.14%
HISTORICAL % OEC: 29.32%
OVER TOTAL
- ------SCENARIO------- ---OUTFLOW--- -----CASH FLOWS----- ----IRR---- --T-RATE-- CASH FLOWS
BASE 119,911 48 2,688 3.64% -3.92% 129,043
CB (THROUGH 12/31/95) 11 2,688 11.80% 4.24% 29,568
RNWL 24 1,150 16.06% 8.50% 27,600
PJCTDISP 1 2,500 16.33% 8.77% 2,500
0
0
0
0
0
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OVERALL RESULTS: REV/ % OEC $188,711.42 157.38%
RESIDUAL RESULTS: REV/ % OEC $59,668.00 49.76%
HISTORICAL COMPARISON: +/- % OEC 20.44%
[GE LOGO]
GE Motors & Industrial Systems
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Installation & Service Engineering Department
General Electrical Company
1 River Road, Schenectady, NY 12345
June 27, 1995
Brian Norton
American Finance Group
98 North Washinton St
Boston, MA 02114
Brian;
Be advised that the material on lease schedule #1 routed through our
warehouse in Illinois to locations outside that state should have the equipment
location as One River Road, Schenectady, NY, 12345. This is Installation &
Service Engineering Headquarters; whereas, Albany is a regional office. Please
adjust your invoices accordingly.
Regards,
/s/ R. E. Wittnebel
R. E. Wittnebel