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Home My WebLink AboutResolution 93-020 promissiory note between marana and oro valley relating to police dispatcher servicesRESOLUTION NO. 93-20 A RESOLUTION OF THE MAYOR AND COUNCIL OF THE TOWN OF MARANA, ARIZONA, AUTHOIII~ING AND RATIFYING THE EXECUTION OF A PROMISSORY NOTE THE TOWN OF MARANA AND THE TOWN OF ORO VA!-I.~.Y I~I:~I.&TING TO PAYMENT FOR POLICE DISPATCI4'F-R SERVICES WIag~REAS the Town of Mararia and the Town of Oro Valley heretofore entered into an intergovernmental agreemeat whereas the Town of Oro Valley agreed to provide police dispatcher services to the Town of Marana to provide for a fee; and ~S said intergovernmental agreement has since been terminated by the parties and an outstanding ba~s~ce is owed by the Town of Marana to the Town of Oro Valley for the services provided pursuant to the agreement; NOW, THEREFORE, UPON MOTION DULY MADE, SECONDED AND BE ~/' ]~g-ROLVED by the Mayor and Council of the Town of Ma~ana, Arizona: That the Town of Matana execute a promissory note to the Town of Oro Valley for the amount owed for services rendered by the Town of Oro Valley pursuant to the intergovernmental agreement which has since been terminated, and That the Mayor is hereby instructed and authorized to sign the said promissory note on behalf of the Town of Mamna. PASSED AND ADOPTED by the Mayor and Council of the Town of Mararia, Arizona, this 20th day of April, 1993. Mayor ORA HARN RECORDED BY: GFb DEPUTY RECORDER 2000 RD11 Ito SOROV 9 TOWN OF ORO VALLEY 11000 N LA CANADA ORO VALLEY AZ 85737 RECEIVED. M AY 2 7 1993 , TIUM d W OM DOCKET: PAGE: NO. OF PAGES: SEQUENCE: FS MAIL AMOUNT PAID $ . . -%. 60 f4 li, 8 0 2 'f:AY 20 93 C F"' 9552 1472 5 93083452 05/28/93 08:00:00 4.00 Return copy or recorded original to: 1. Debtor(s) (last name first and address): Town of Marana 13251 N. Lon Adarrks Road Marana, Arizona 85653 ARIZONA UNIFORM COMMERCIAL CODE FINANCING STATEMENT - Form UCC-1 This FINANCING STATEMENT is presented for filing (recording) pursuant to the Arizona Uniform Commercial Code. 2. Secured Party(ies) and address: Town of Oro Valley 11000 N. La Canada Drive Oro Valley, Arizona 3. Name and Address of Assignee of Secured Party(ies): 6. If the collateral is crops, the crops are growing or to be grown or, the following describcd rea! estate: 4. 0 If checked, products of collaterai are atso uvveieu- 5. This Financing Statement covers the following types (or items) of property: 1984 CAT MotorGrader '; 12!4APM Model #1200-C- Serial #87V7165W-? 01) 09-7010111110971 1 r. f 1. 1 PC; I-NI TnTAI rHFrK I IR1911 if the collateral is?fa) goods which are or are to b come fixtures; (b) timber to be cut; or (c) minerals or the like (irvcluding oil e and gas), or accounts resulting from the sale thereof at the wellhead or minehead to which the security interest attaches upon extraction, the legal description of the real estate concerned is: And, this Finan-ing Siatemcn, ;s tc I-)e recorded in the office where a mortgage on such real estate would oe rec, Debtor does not have an interest of record, the name of a record owner is: interest in: y s4jb?- ic q secu-%, i-terest ir J,-!ris? -Von .A!hPn ?t w,-F? bro-iqh+ intc th;s stale SIGNATURE(S) OF D-9-T? OR ASS I GN-)R I? coilateral as to which the filing has 0 coilatk:ral acquired after a change ef C0r00r3te structure of the Debtor. iUse uat,?u 19 9 'N h i c h e ve r is cr, aopli, )ie) t L E1 1 J o t t, M;E??y Si,?,Nal?lO?:?'?)0;-SEC?iRED?'AR7Y:?r-, 'lown of Oro Valley P, A E 4, Town of Marana - Dispatching Services Payback Fue 1 4-2 $22,856.67 on June 1. 1993 at 6. 000% with 24 Mc)nthly Payments 360-day Year # --- Payment Date ------- I July - 1, ------ 1993 2 Aug. 1. 1993 3 Sep. 1, 1993 4 Oct. 1. 1993 5 Nov. 1. 1993 6 Dec. 1. 1993 Annual Subtotal 7 Jan. 1. 1994 8 Feb. 1. 1994 9 Mar. 1, 1994 10 Apr. 1. 1994 11 May 1, 1994 12 June 1. 1994 13 July 1. 1994 14 Aug. 1. 1994 15 Sep. 1. 1994 16 Oct. 1. 1994 17 Nov. 1. 1994 18 Dec. 1. 1994 Annual Subtotai 19 Jan. 1. 1995 20 Feb. 1. 1995 21 Mar. 1. 1995 22 Apr. 1. 1995 23 May 1, 1995 24 June 1. 1995 Annual Subtotal Totals Total Payment Interest Amt, Principal Amt, Remaining Bal. 24.312.50 1,455.83 22.856.67 1.013.02 114.28 898.74 21.957.93 1,013.02 109.79 903.23 21.054.70 1.013.02 105.27 907.75 20.146.95 1,013.02 100.73 912.29 19,234.66 1,013.02 96.17 916.85 18,317.81 1,013.02 -------------- -- 91.59 ---------- 921.43 17,396.38 6.078.12 -------------- -- - 617.83 --- ------------ 5.460.29 1.013.02 ------- - 86.98 ------------ 926.04 16.470.34 1,013.02 82.35 930.6"1 15,539.67 1,013.02 77.70 935.32 14.604.35 1.013.02 73.02 940.00 13,664.35 1.013.02 68.32 944.70 12.719.65 1,013.02 63.60 949.42 11.770.23 1,013.02 !)8.85 954.17 10.816.06 1,013.02 54.08 958.94 9,857.12 1,013.02 49.29 963.73 8,893.39 1,013.02 44.47 968.55 7.924.84 1.013.02 39.62 973.40 6,951.44 1.013.02 -------------- -- 34.76 ---------- .978.26 5,973.18 12,156.24 -------------- -- -- 733.04 -- ----------- 11,423.20 1,013.02 -------- -- 29.87 ----------- 983.15 4.990.03 1,013.02 24.95 988.07 4.001.96 1,013.02 20-01 993.01 3,008.95 1,013.02 15.04 997.98 2,010.97 1,013.02 10.05 1,002.97 11008.00 1,013.04 -------------- --- 5.04 --------- 1,008.00 0.00 6,078.14 -------------- --- -------------- --- -- 104.96 --------- -- --------- -- ----------- 5,973.18 ----------- ----------- iFamir -A 9552 1473 PROMISSORY NOTE a IX, $ 22L856.67 Pima County, Arizona FOR VALUE RECEIVED, the TOWN OF MARANA, a political subdivision of the State of Arizona, promises and agrees to pay to the order of the TOWN OF ORO VALLEY, an Arizona municipal corporation ("Holder"), at its principal office at 11000 North La Cafiada Drive. Oro Valley, Arizona, the principal sum of TWENW-TWO THOUSAND EIGHT HUNDRED FIFTY-SIX DOLLARS AND SLX-IY- SEVEN CENTS ($22.8s; 6.67). r with accrued interest on the unpaid balance thereof from July lfft ? , ?,r the rate of six percent (60/6) per annum, calculated on the basis of a 365-day year, with all principal and interest being due and payable in full on July 1, 1995. Maker shall have the option to prepay the principal amount of this Note, together with all interest accrued hereunder, at any time. Maker shall make monthly payments on the outstanding principal and interest in the minimum amount of - ONE THOUSAND THIRTEEN D ) RSAND 'IWO CENTS ($1,013.02), commencing on July 1, 1993 and continuing thereafter on the 1st of every successive month until paid in full. Payments hereunder shall be made in accordance with the payment schedule set forth in Exhibit A which is attached and incorporated herein. All payments shall be applied first to interest, with the balance being applied to the reduction of principal. In the event Maker does not timely make any payment due hereunder. Maker shall pay to Holder an amount, equal to five percent (5%) of the amount of any such past due payment, as liquidated damages for the loss of use of such funds, and as handling and collection expenses, to compensate Holder for such damages and expenses, and not as a penalty; provided, however. that any such charge for late payment. when added to all interest of any kind payable upon the indebtedness evidenced hereby, shall not exceedthe maximum Interest permitted under applicable law. 'Me repayment of the indebtedness evidenced by this Note is?secure-d by Personal EEWenty/ i FAujpffi-eht covering ceftain-- of the real and personal assets of the TOWN OF MARANA as described below: 1984 CAT MotorGr a-de r Model #1?iO-? Serial # 87V7165 9552 1474 Maker hereby waives grace. notice, notice of default, notice of interrt to accelerate, protest, demand, presentment for payment and diligence in the collection of this Note, and agrees that Its liability and the liability of its successors and assigns for the payment hereof shall not be affected or impaired zz? by any release or change in the security or by any increase, modification, renewal or extension of the indebtedness or its mode or time of payment. Maker agrees that Holder shall have the right at all times to decline to make any such release or change in the security given to secure the payment hereof and to decline to make any such increase, modification, renewal or extension of the indebtedness or its mode or time of payment. All amounts payable hereunder are payable in legal tender of the United States of America. Remittance or receipt of funds in the form of checks that are not certified or are not in immediatelv available fund-, shall not constitute payment of any sums due hereunder unill the funds payable by any such check are actually collected by Holder or Holder's agent. Acceptance by Holder of any payment in any amount less than the amount then due hereunder shall be deemed an acceptance on account only, and the failure to pay the entire amount then due shall be and continue to be a default. In the event of any default in the payment of any part of the principal or interest of this Note, as the same becomes due and payable. Holder shall have the option, without demand or notice. to declare the unpaid principal amount of this Note, together with a accrued interest hereunder, immediately due and payable without notice, and to foreclose the lien or security interest securing the payment of some. It is further agreed that when this Note becomes due or is declared due and has been placed in the hands of attorneys for collection, or has been collected by demand, by suit, through a Court of Bankruptcy or otherwise, Maker agrees to pay a reasonable sum as collection or attorneys' fees, plus an costs and expenses associated with such collection, none of which shall exceed the amount actually expended or incurred by Holder. Any notice under this Note shall be in writing. Any notice to be given or document to be delivered under this Note to Maker shall be-effective -when either delivered in person * or-Aeposited in a Post Office of the United -States Postal Service or in a regularly maintained receptacle under the case and custody of the United States Postal Service as registered or certified mail, postage prepaid, addressed to Makerat the address of Malker--aslollows,- Town Manager Town of Marana 13251 North Lon Adams Road Marana, Arizona 85653 9552 1475 Notwithstanding any provision of this Note or any instrument securing payment of the indebtedness evidenced by this Note to the contrary, it is the intent of the parties that Holder shall never be entitled to receive, collect or apply. as interest on the principal amount of this Note, any amount in excess of the maximum rate of interest permitted to be charged under applicable law. In the event Holder ever receives, collects or applies as interest any such excess, such amount shall be deemed a partial prepayment of principal and treated hereunder as such. If the principal amount of the indebtedness secured hereby is paid in full. any remaining excess funds forthwith shall be paid to Maker. In determining whether interest of any kind. paid or payable hereunder, under any specific contingency, exceeds the highest lawful amount of interest, Maker and Holder shall, to the maximum extent permitted under applicable law: (a) characterize any nonprincipal payment as an expense, fee or premium, rather than as interest; (b) exclude voluntary prepayments and the effects thereof. and (c) amortize. prorate, allocate and spread, in equal parts. the total amount of interest throughout the entire term of the indebtedness, so that the interest rate is uniform throughout the entire term of the indebtedness: provided that if the indebtedness is paid in full prior to the end of such term, and if the amount of interest received exceeds the maximum amount of interest permitted by law, then Holder shall refund to Maker the amount of such excess. Any failure by Holder to insist upon, or any election by Holder not to insist upon. strict performance by Maker of any of the covenants, agreements, terms, conditions and obligations hereof, shall not create any estoppel as to Holder's future right to insist upon strict performance, and shall not be deemed to be a waiver of same or of any other covenant, term. provision or condition hereof, and Holder shall have the right at any time or times thereafter to insist upon strict performance by Maker of any and all such covenants, agreements, terms, conditions and obligations. Whenever used in this Note, the singular number shall include the plural, the plural the singular, and the use of any gender shall include all genders. The words "Maker" and "Holder," as used herein, shall include their respective successors, assigns and beneficlaries. TOWN OF ORO VALLEY "HOLDEK' 13? ??anetta Lee Ell?iott? it ATTEST: By_4 L T ALY1 e ?r own 9552 TOWN OF mARANA 1'AVj[,4MR19 Its -A,4 ATTEST: EST`* 1476 I Approved by The Secretary of State of Ari7o-.na, Rev 10 90 FORM UCC-1 NOTE:, StUTV!_ SEPARATELY 20 93 Return copy or recorded original to: 1. Debtor(s) (last name first and address): TOM Of Marwa 13251 W. toon Aderm HoW Mmm, Arizom 85653 ARIZONA UNIFORM COMMERCIAL CODE FINANCING STATEMENT - Form UCC-1 This FINANCING STATEMENT is presented for filing (recording) pursuant to the Arizona Uniform Commercial Code. 2. Secured Party(ies) and address: i Town Of Oro Valley 11000 N. La CWW0a Drive Oro Valley, Arizom 3. Name and Address of Assignee of Secured Party(ies): 1 4. 0 If checked, products of collateral are also covered. 6. If the collateral is crops, the crops are growing or to be grown on the following described real estate: 5. This t-inancing btatement covers ine following types (or items) of property: 1984 CAT Mot "a Model #12CW - cr V!* Serial #87V7165 TnTAI I.M (Wri< I ? An 1 11Z19.19' 7. If the collateral is: (a) goods which are or are to become fixtures; (b) timber to be cut; or (c) minerals or the like (including oil and gas). or accounts resulting from the sale thereof at the wellhead or minehead to which the security interest attaches upon extraction, the legal description of the real estate concerned is: And, this Financing Statement is to be recorded in the office where a mortgage on such real estate would be recorded. If the Debtor does-not have an-interest of record, the name of a record owner is: S. Jhis Financing Statement is signed by the Secured Party instead of the debtor to perfect or continue perfection of a security interestin: C3 collateral already subject to a security interest in 11 collateral as to which the filing has lapsed or will lapse. jurisdiction when it, was brought into this state. 0 proceeds of collateral because of a change in type 0 collateral acquired after a change of name, identity or or usili. corporate structure of the Debtor. TERMINATION STATEMENT - The financing statement described above is terminated. Dated: SIGNATURE(S) OF SECURED PART Y(IES) OR ASSi6NEE OFFIECORD Printed by Alpha Enterprises of Arizona. Inc - P.O. Box 3881, Tucson. Arizona 85732-3881 - 1-800-528-3494 See reve,se s,de for instruc?!ons Olt F. ANN RODRIGUEZ, R )RDER D(- 'ET: lo226 RECORDED BY: SMS P?. 10017 DEPUTY RECORDER NO. OF PAGES: I 197o R005 SEQUENCE: 96020526 W 02/07/96 TOWN OF ORO VALLEY RFS 14:02:00 110oO N LA CANADA DR HOLD FOR POSTAGE ORO VALLEY AZ e5737 AMOUNT PAID $ 7.00 STATEMENT OF RELEASE Secured Debtor. Town of Marana Party: Town of Oro Valley 13251 N. Lon Adams Rd. 11000 N. La Cafiada Dr. Marana, AZ 85653 Oro Valley, AZ 85737 The Town of Oro Valley gives its statement pursuant to A.R.S. § 47-9406 hereby releasing all claims to any security interest in that: 1984 CAT MotorGrader Serial # 87V7165 owned by the Town of Marana as noted in the Arizona Uniform Commercial Code Financing Statement -- Form UCC-1 filed with the: Secretary of State Pima County Recorder at 8:00 a.m. on May 20, 1993 & on May 28, 1993 744802 at Docket 9552 and Page 1472 ,,1996. EXECUTED AND DATED this 2-5 day of dg.,&3? ATTEST: Kathryn Cuvelier, Town Clerk APPROVED AS T - RM: Tobin Sidles, Town 9ttorney CHERYL SKALSKY, Mayor Cr RECEIVED FEB 1 4 19Q? TOWN of ORO VALLEY bb/release.UCC 1009 ?,\_LEY 0 N D E April 12th, 1993 Mr. Hurvie Davis, Town Manager Town of Marana 13251 N. Lon Adams Road Marana, Arizona 85653 Re: Promissory Note Dear Hurvie: TOWN OF ORO VALLEY 11000 N. LA CANADA DRIVE ORO VALLEY, ARIZONA 85737 Please f ind enclosed the Promissory Note between Oro Valley and Marana, relating to the amount due the Town of Oro Valley for previously rendered Police Dispatching Services. As we have discussed previously, it is my desire to get this Promissory Note finalized and in place soon, so that the repayment schedule can begin on July 1st, 1993. Thank you for your assistance in this matter, and please do not hesitate to call my office if you have any questions. Also would you please notify my office once the Town Council of Marana has approved this promissory note, so that we may finalize the document with the Town Council of Oro Valley. Sincerely, Chuck Sweet Town Manager enclosure (1) c: Gary Kidd,Town Attorney David Andrews, Finance Director Ad m inistrative Offices (602) 297-2591 FAX (602) 297-0428 Building Codes, Engineering, Planning & Zoning Department (602) 797-9797 Magistrate Court (602) 297-3205 Office of the Town Attorney (602) 297-5222 LANETTA LEE ELLIOTT, Mayor CHERYL SKALSKY, Vice-Mayor CATHY HUFAULT, Councilmember KENNETH N. KAROL, Councilmember PAUL M. HERMES, Councilmember