10-23-2023 Council Packet - Laserfiche WebLink

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Term Sheet for Lease -Purchase Financi NET LEASE: Lessor is not a manufacturer or dealer of equipment. All maintenance, license fees, taxes, insurance, and any other costs related to ownership and operation of the Equipment shall be the responsibility of Lessee. DOCUMENTATION: Lessor contemplates using standardized documentation and intends to use in-house legal counsel. Huntington will require that an opinion of tax exemption be provided at closing. If this transaction necessitates that the Lessor use outside legal counsel or incur any other extraordinary expenses, such costs shall be borne by Lessee. CREDIT APPROVAL: The terms set forth herein reflect a proposed, preliminary structure and are subject to final credit approval by Lessor and the negotiation of mutually acceptable documentation. They do not represent all of the terms and conditions that may ultimately be included in a financing between Lessee and Lessor. PROPOSAL EXPIRATION: This proposal shall expire at Lessor's option if (a) Lessor has not received the Lessee's written acceptance by October 24, 2023; or (b) if the funding does not occur on or before November 30, 2023. HUNTINGTON CONTACT: Jonathan K. Schatz, Assistant Vice President Huntington Public Capital Phone: (414) 351-8503 Email: Jonathan.k.schatz@huntington.com Respectfully Submitted, )Y//,� )� 4 ACCEPTED BY: City of Orono, Minnesota Signature Printed Name Title Date Huntington Public Capital® ("HPC'), a division of The Huntington National Bank (the "Bank'), is providing the information contained in this document for discussion purposes only in connection with an arms -length transaction under discussion between you and HPC. If you are a "municipal entity" or "obligated person" within the meaning of the municipal advisor rules (the "Rules') of the Securities and Exchange Commission, Rule 15Ba1-1 et seq. this information is provided to you pursuant to and in reliance upon the "bank exemption, " and/or other exemptions and/or the "general information" exclusion provided under the Rules. HPC is acting for its own interest and has financial and other interests that differ from yours. HPC is not acting as a municipal advisor or financial advisor, and has no fiduciary duty, to you or any other person pursuant to the Rules. The information provided in this document is not intended to be and should not be construed as "advice" within the meaning of the Rules. HPC is not recommending that you take or refrain from taking any action with respect to the information contained in this document. Before acting on this information, you should discuss it with your own financial and/or municipal, legal, accounting, tax and other advisors as you deem appropriate. As used in this notice, the "Rules" means Section 15B of the Securities Exchange Act of 1934, the Securities and Exchange Commission's Rule 15Ba1-1, et seq., and any related municipal advisor rules of the Municipal Securities Rulemaking Board, all as they may be amended from time to time. Exhibit A - Term Sheet