HomeMy WebLinkAboutWestlake Academy Lease Quote 5-272 PAGE QUOTE:
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2. T&C PAGE
5/27/2008
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Westlake
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Thank you for the opportunity to present this financing proposal for your review. I
look forward to discussing your unique situation further. Please do not hesitate to call
me at the contact information below with questions or concerns.
Regards,
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Westlake Academy
Attention: Maria Busico-Flight
Jennifer Mehis
Inside Financing Manager
Southeast U.S. Region
Apple, Inc.
Apple Financial Services
12545 Riata Vista Circle
Austin, Texas 78727-6524
T: 512-674-2690
F: 512-674-2434
E: jmehis@apple.com
The AppleEquity option allows your school to create fixed costs, build equity that can
be leveraged for more equipment year after year, and retain the benefits of a $1.00
purchase option lease structure. This is the best option for schools that want to own
their equipment at term’s end, want to build a fleet of systems quickly, and/or seek to
create a long-term budgetary plan for their systems.
With the AppleEquity option, a school that owns their equipment at term’s end may
seek to trade in that equipment for credit toward new systems or for cash. Apple's
Trade-In Program for Education is available to guide your school through responsible
equipment disposal. Many schools have used this program to recover past years'
budget dollars in order to pay for a portion of their next systems deployment.
AppleEquity
Financed Amount
Payment Terms
Annual Advance Payment
3 Years
$116,187.86
$41,495.50
JeMe-14768 3/18/2008 3:00:06 PMProposal No.
2 PAGE QUOTE:
1. QUOTE PAGE
2. T&C PAGE
5/27/2008
Pricing Notes and Conditions
Payments, rates, terms, and conditions contained in this non-binding proposal are offered for
informational purposes only and are subject to change without notice and shall not be construed as an
offer to extend credit or enter into any lease financing transaction.
Applications for credit or lease financing shall be subject to our independent credit review, and shall be
reviewed and/or approved subject to such terms and conditions as we may require in our sole discretion.
All quotes are exclusive of any applicable taxes.
This proposal is subject to the execution of mutually acceptable documentation between lessor and
lessee, the terms and conditions of which shall be controlling.
Lease Discount Disclosure Statement: Apple Computer, Inc., as lessor, through the Apple Education
Finance Program, provides an equipment discount (“Discount”) to certain third party investors. The
proposed lease shall be financed by a particular third party investor and, therefore, the Discount may be
applied to facilitate this Lease Discount Promotion. The actual interest rate you will pay in respect of any
resulting lease shall be reflected in an amortization table provided with such lease. The lease discount
listed above refers to the lease discount for the lessor’s assignee.
The lease charge portion of the Payments (described above) can be determined by applying to the Total
Adjusted Cost (described above) the rate which will amortize such Total Adjusted Cost down to the
Purchase Option amount (as described above) by payment of such Payments. The lease charge rate may
be higher than the actual annual interest rate because of the amortization of certain costs, expenses and
fees incurred by us. It is understood that even if our mutual intention is confirmed by you, neither party
shall be legally bound to the other by reason of this proposal, nor shall any rights, liabilities or obligations
arise as a result of this proposal. Rates are subject to verification that the Lessee is a state or political
subdivision as defined in Section 103 of the Internal Revenue Code of 1986.
AppleEquity - End of Term Options
Options available upon completion of the base financed term include:
1. Exercise the option to purchase the equipment at end of term for one dollar
2. Return all products to Apple at schedule-holder's expense
3. Exercise purchase option and trade in equipment at then-agreed upon values for
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JeMe-14768 3/18/2008 3:00:06 PMProposal No.