Common use of Eighteen Month Exception Clause in Contracts

Eighteen Month Exception. Pursuant to Treasury Regulations Section 1.148-7(d), the gross proceeds of this Property Schedule will be expended for the governmental purposes for which this Property Schedule was entered into, as follows: at least 15% within six months after the Commencement Date, at least 60% within 12 months after the Commencement Date, and 100% within 18 months after the Commencement Date. If Lessee is unable to comply with Section 1.148-7(d) of the Treasury Regulations, Lessee shall compute rebatable arbitrage on this Agreement and pay rebatable arbitrage to the United States at least once every five years, and within 60 days after payment of the final Lease Payment due under this Agreement. Lessee: Tillamook County By: Name: ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ Title: BOCC Chair *Please be sure to select ONE option above. SECURED PARTY: U.S. Bancorp Government Leasing and Finance, Inc. DEBTOR: Tillamook County This financing statement covers all of Debtor's right, title and interest, whether now owned or hereafter acquired, in and to the equipment leased to Debtor under Property Schedule No. 7 dated November 19, 2021 to that certain Master Tax- Exempt Lease Purchase Agreement dated as of August 22, 2014, in each case between Debtor, as Lessee, and Secured Party, as Assignee, together with all accessions, substitutions and replacements thereto and therefore, and proceeds (cash and non-cash), including, without limitation, insurance proceeds, thereof, including without limiting, all equipment described on Exhibit A attached hereto and made a part hereof. Debtor has no right to dispose of the equipment.

Eighteen Month Exception. Pursuant to Treasury Regulations Section 1.148-7(d), the gross proceeds of this Property Schedule will be expended for the governmental purposes for which this Property Schedule was entered into, as follows: at least 15% within six months after the Commencement Date, at least 60% within 12 months after the Commencement Date, and 100% within 18 months after the Commencement Date. If Lessee is unable to comply with Section 1.148-7(d) of the Treasury Regulations, Lessee shall compute rebatable arbitrage on this Agreement and pay rebatable arbitrage to the United States at least once every five years, and within 60 days after payment of the final Lease Payment due under this Agreement. Lessee: Tillamook County City of Laramie By: Name: ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ Title: BOCC Chair Mayor *Please be sure to select ONE option above. SECURED PARTY: U.S. Bancorp Government Leasing and Finance, Inc. DEBTOR: Tillamook County City of Laramie This financing statement covers all of Debtor's right, title and interest, whether now owned or hereafter acquired, in and to the equipment leased to Debtor under Property Schedule No. 7 5 dated November 19July 3, 2021 2019 to that certain Master Tax- Tax-Exempt Lease Purchase Agreement dated as of August 22April 30, 20142013, in each case between Debtor, as Lessee, and Secured Party, as AssigneeLessor, together with all accessions, substitutions and replacements thereto and therefore, and proceeds (cash and non-non- cash), including, without limitation, insurance proceeds, thereof, including without limiting, all equipment described on Exhibit A attached hereto and made a part hereof. Debtor has no right to dispose of the equipment.

Eighteen Month Exception. Pursuant to Treasury Regulations Section 1.148-7(d), the gross proceeds of this Property Schedule will be expended for the governmental purposes for which this Property Schedule was entered into, as follows: at least 15% within six months after the Commencement Date, at least 60% within 12 months after the Commencement Date, and 100% within 18 months after the Commencement Date. If Lessee is unable to comply with Section 1.148-7(d) of the Treasury Regulations, Lessee shall compute rebatable arbitrage on this Agreement and pay rebatable arbitrage to the United States at least once every five years, and within 60 days after payment of the final Lease Payment due under this Agreement. Lessee: Tillamook County City of Laramie By: Name: ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ Title: BOCC Chair Mayor *Please be sure to select ONE option above. SECURED PARTY: U.S. Bancorp Government Leasing and Finance, Inc. DEBTOR: Tillamook County City of Laramie This financing statement covers all of Debtor's right, title and interest, whether now owned or hereafter acquired, in and to the equipment leased to Debtor under Property Schedule No. 7 4 dated November 19July 3, 2021 2019 to that certain Master Tax- Tax-Exempt Lease Purchase Agreement dated as of August 22April 30, 20142013, in each case between Debtor, as Lessee, and Secured Party, as AssigneeLessor, together with all accessions, substitutions and replacements thereto and therefore, and proceeds (cash and non-non- cash), including, without limitation, insurance proceeds, thereof, including without limiting, all equipment described on Exhibit A attached hereto and made a part hereof. Debtor has no right to dispose of the equipment.