POOL FURNITURE AND PLAYGROUND EQUIPMENT 
LEASE/PURCHASE AGREEMENT 

 

 

 This Pool Furniture and Playground Equipment Lease/Purchase Agreement (the 
“Agreement”) dated as of March __, 2024, and entered into by and between THM LEASING, LLC, 
a Florida limited liability company, as Lessor (“Lessor”), and the LAKE DEER COMMUNITY 
DEVELOPMENT DISTRICT, a local unit of special-purpose government and political subdivision 
of the State of Florida, organized and existing under the laws of the State of Florida, as Lessee (the 
“Lessee”). 

 

WITNES SETH: 

 

WHEREAS, Lessee desires to lease and acquire from Lessor certain equipment described 
in each Schedule (as each such term is defined herein), subject to the terms and conditions of, and 
for the purposes set forth in this Lease; and in the event of a conflict, the terms of a Schedule prevail; 
and 

 

WHEREAS, the relationship between the parties shall be a continuing one and items of 
equipment may be added to the Equipment from time to time by execution of additional Schedules 
by the parties hereto and as otherwise provided herein; and 

 

 WHEREAS, Lessee is authorized under the constitution and laws of the State of Florida 
to enter into this Agreement and the Schedules hereto for the purposes set forth herein; 

 

NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby 
acknowledged, and in consideration of the premises hereinafter contained, the parties hereby agree 
as follows: 

 

ARTICLE I 
DEFINITIONS 

 Section 1.01 Definitions. The following terms will have the meanings indicated below 
unless the context clearly requires otherwise: 

 

“Acquisition Amount” means the amount specified in the Lease and represented by Lessee 
to be sufficient to acquire the Equipment listed in such Lease, which amount shall be not less than 
$10. 

 

“Acquisition Fund” means, with respect to this Lease, the fund established and held by 
the Acquisition Fund Custodian pursuant to the related Acquisition Fund Agreement, if any. 

 

“Acquisition Fund Agreement” means, with respect to this Lease, an Acquisition Fund 
and Account Control Agreement in form and substance acceptable to and executed by the 
Lessee, the Lessor and the Acquisition Fund Custodian, pursuant to which an Acquisition Fund 
is established and administered, if any. 

 


“Acquisition Fund Custodian” means the Acquisition Fund Custodian identified in any 

Acquisition Fund Agreement, and its successors and assigns. 

 

“Acquisition Period” means, with respect to this Lease, that period stated in the Schedule 
to the Lease during which the Lease Proceeds attributable to the Lease may be expended on 
Equipment Costs. 

 

“Agreement” means this Pool Furniture and Playground Equipment Lease/Purchase 
Agreement, including the exhibits hereto, together with any amendments and modifications to the 
Agreement pursuant to Section 13.06. 

 

“Certificate” means the certificate executed by the Secretary or other comparable officer 
of Lessee, in substantially the form attached hereto as Exhibit C. 

 

“Code” means Title 26 of the U.S. Code, except where otherwise indicated. 

 

“Commencement Date” means the date when Lessee’s obligation to pay rent 
commences under such Lease, which date shall be the earlier of (i) the date on which the Equipment 
listed in this Lease is accepted by Lessee in the manner described in Section 5.01, and (ii) the 
date on which sufficient moneys to purchase the Equipment listed in such Lease are deposited for 
that purpose with an Acquisition Fund Custodian. 

 

“Equipment” means the property listed in the Lease and all replacements, repairs, 
restorations, modifications and improvements hereof or thereto made pursuant to Section 8.01 of 
Article V. Whenever reference is made in this Agreement to Equipment listed in this Lease, such 
reference shall be deemed to include all such replacements, repairs, restorations, modifications and 
improvements of or to such Equipment. 

 

“Equipment Costs” means the total cost of the Equipment listed in this Lease, including 
all delivery charges, installation charges, capitalizable consulting and training fees, legal fees, 
financing costs, and other costs necessary to vest full, clear legal title to the Equipment in Lessor, 
and otherwise incurred in connection with the financing provided by the lease-purchase of the 
Equipment as provided in the Lease. 

 

 “Expense Fund” means, with respect to this Lease, the fund established and held by the 
Acquisition Fund Custodian pursuant to the related Acquisition Fund Agreement, if any. 

 

“Event of Default” means an Event of Default described in Section 12.01. 

 

“Lease” means a Schedule and the terms of this Agreement which are incorporated by 
reference into such Schedule. 

 

“Lease Proceeds” means, with respect to this Lease, the total amount of money to be paid 
by Lessee to Lessor the in accordance with the Agreement. 

 

“Lease Term” for the Lease shall begin on the Commencement Date thereof and continue 
as specified in the Schedule applicable thereto. 


 

“Lessee” means the entity or entities referred to as Lessee in the first paragraph of this 
Agreement. 

 

“Lessor” means (a) the entity referred to as Lessor in the first paragraph of this Agreement 
or (b) any assignee or transferee of any right, title or interest of Lessor in and to the Equipment 
under a Lease (including Rental Payments thereunder) pursuant to Section 11.01, but does not 
include Lessee, any party taking a leasehold interest in the Equipment or any entity solely by reason 
of that entity retaining or assuming any obligation of Lessor to perform under a Lease. 

 

“Maximum Equipment Cost” means $130,242.44. 

 

“Purchase Price” means, with respect to the Equipment listed on this Lease, the amount 
that Lessee may pay to Lessor to purchase such Equipment as provided in such Lease. 

 

“Rental Payments” means the basic rental payments payable by Lessee under this 
Lease pursuant to Section 4.01, in each case consisting of a principal component and an interest 
component. 

 

“Schedule” means each separately numbered Schedule of Property substantially in the 
form of Exhibit A hereto together with a Rental Payment Schedule attached thereto substantially 
in the form of Exhibit A-1 hereto. 

 

“State” means the State of Florida. 

 

 “Utilization Period” means the date by which Lessee must deliver an Acceptance 
Certificate for the Equipment under this Lease as indicated in Section 3.04(b). 

 

“Vendor” means the manufacturer or supplier of the Equipment or any other person as well 
as the agents or dealers of the manufacturer or supplier from whom Lessor arranged Lessee’s 
acquisition and financing of the Equipment pursuant to the applicable Lease. 

 

 

ARTICLE II 
COVENANTS 

Section 2.01 Representations and Covenants of Lessee. Lessee represents, covenants 

and warrants for the benefit of Lessor on the date hereof and as of the Commencement Date of 
the Lease as follows: 

 

(a) Lessee is a political subdivision of the State within the meaning of Section 
103(c) of the Code, duly organized and existing under the constitution and laws of the State 
with full power and authority to enter into this Agreement and the Lease and the 
transactions contemplated hereby and to perform all of its obligations hereunder. 

 

(b) Lessee has duly authorized the execution and delivery of this Agreement and 
this Lease by proper action of its governing body at a meeting duly called, regularly 


convened and attended throughout by the requisite quorum of the members thereof, or by 
other appropriate official approval, and all requirements have been met and procedures have 
occurred in order to ensure the validity and enforceability of this Agreement and this 
Lease. 

 

(c) No event or condition that constitutes, or with the giving of notice or the 
lapse of time or both would constitute, an Event of Default exists at the date hereof. 

 

(d) Lessee will do or cause to be done all things necessary to preserve and 
keep in full force and effect its existence as a political subdivision. 

 

(e) Lessee has complied with such public bidding requirements as may be 
applicable to this Agreement and the Lease and the acquisition by Lessee of the Equipment 
as provided in the Lease. 

 

(f) During the Lease Term, the Equipment will be used by Lessee only for the 
purpose of performing essential governmental or proprietary functions of Lessee consistent 
with the permissible scope of Lessee’s authority. Lessee does not intend to sell or 
otherwise dispose of any interest in the Equipment prior to the last Rental Payment 
scheduled to be paid under each Lease. 

 

(g) Lessee shall deliver to Lessor (i) annual audited financial statements 
(including (1) a balance sheet, (2) statement of revenues, expenses and changes in fund 
balances, (3) statement of cash flows and notes, and (4) schedules and attachments to the 
financial statements) within 270 days of its fiscal year end, (ii) such other financial 
statements and information as Lessor may reasonably request, and (iii) its annual budget for 
the following fiscal year within 30 days of the adoption thereof. The annual audited 
financial statements shall be accompanied by an unqualified opinion of Lessee’s auditor. 
Credit information relating to Lessee may be disseminated among Lessor and any of its 
affiliates and any of their respective successors and assigns. 

 

(h) Lessee has kept, and throughout the Lease Term of this Agreement will 
keep, its books and records in accordance with generally accepted accounting principles. 

 

(i) Lessee has an immediate need for the Equipment listed on the Schedule and 
expects to make immediate use of the Equipment listed on the Schedule. Lessee’s need for 
the Equipment is not temporary and Lessee does not expect the need for any item of the 
Equipment to diminish during the Lease Term . 

 

(j) The payment of the Rental Payments or any portion thereof is not (under the 
terms of this Lease or any underlying arrangement) directly or indirectly (a) secured by 
any interest in property used or to be used in any activity carried on by any person other 
than a state or local governmental unit or payments in respect of such property; or (b) on a 
present value basis, derived from payments (whether or not to Lessee) in respect of 
property, or borrowed money, used or to be used in any activity carried on by any person 
other than a state or local governmental unit. The Equipment will not be used, directly 
or indirectly, in any activity carried on by any person other than a state or local 


governmental unit. No portion of the Equipment Costs for the Equipment will be used, 
directly or indirectly, to make or finance loans to any person other than Lessee. Lessee 
has not entered into any management or other service contract with respect to the use and 
operation of the Equipment. 

 

(k) There is no pending litigation, tax claim, proceeding or dispute that Lessee 
reasonably expects will materially and adversely affect Lessee’s financial condition or 
impairs its ability to perform its obligations hereunder. Lessee will, at its expense, maintain 
its legal existence in good standing and do any further act and execute, acknowledge, 
deliver, file, register and record any further documents Lessor may reasonably request in 
order to protect Lessor’s interest in the Equipment and Lessor’s rights and benefits under 
this Lease. 

 

ARTICLE III 
LEASE 

Section 3.01 Lease of Equipment. Subject to the terms of this Agreement, Lessor 

agrees to provide the funds specified in this Lease to be provided by it to acquire the Equipment, 
up to an amount equal to the Maximum Equipment Cost. Upon the execution of this Lease, 
Lessor leases and lets to Lessee, and Lessee rents and leases from Lessor, the Equipment as set 
forth in such Lease and in accordance with the terms thereof. 

 

Section 3.02 Continuation of Lease Term. Lessee intends to continue the Lease Term 
and to pay the Rental Payments thereunder. Lessee reasonably believes that an amount sufficient 
to make all Rental Payments during the entire Lease Term of the Lease can be obtained from 
legally available funds of Lessee. Lessee further intends to do all things lawfully within its power 
to obtain and maintain funds sufficient and available to discharge its obligation to make Rental 
Payments due hereunder, including making provision for such payments to the extent necessary in 
each budget or appropriation request submitted and adopted in accordance with applicable 
provisions of law, to have such portion of the budget or appropriation request approved and to 
exhaust all available reviews and appeals in the event such portion of the budget or appropriation 
request is not approved. 

 

Section 3.03 Abatement. During any period in which, by reason of material damage or 
destruction or taking under the power of eminent domain (or sale to any entity threatening the 
use of such power) or material title defect with respect to any Equipment, there is substantial 
interference with the use and possession by Lessee of such Equipment, the Lessee’s obligation to 
pay rent applicable to such Equipment shall be abated proportionately in whole or in part. 
Lessee shall immediately notify Lessor upon the occurrence of any event causing substantial 
interference with Lessee’s use and possession of any Equipment, and such notice shall be provided 
prior to the abatement of any rent. The amount of abatement of the Lessee’s obligation to pay rent 
shall be such that the remaining rental obligation of the Lessee for each rental period represents 
fair consideration for the use and possession of the portions of the Equipment that are not affected 
by such interference. Such abatement shall commence on the date that Lessee’s use and possession 
of the affected Equipment is restricted because of such interference and end on the earlier of (i) 
the date on which the use and possession thereof are restored to Lessee, or (ii) the date on which 


Lessee either (x) replaces the affected Equipment or (y) uses the proceeds of insurance or 
condemnation award to pay the applicable Purchase Price therefor. Notwithstanding any such 
interference with Lessee’s use and possession of a portion of the Equipment, this Lease shall 
continue in full force and effect with respect to any remaining Equipment. To the extent 
applicable, Lessee waives the benefits of California Civil Code Section 1932, to the extent 
applicable, and any and all other rights to terminate this Lease by virtue of any interference with 
the use and possession of any Equipment. 

 

Section 3.04 Conditions to Lessor’s Performance. 

 

(a) As a prerequisite to the performance by Lessor of any of its obligations 
pursuant to this Lease, Lessee shall deliver to Lessor the following: 

 

(i) A fully completed Schedule, executed by Lessee; 

 

(ii) An Acquisition Fund Agreement, if applicable; 

 

(iii) A Certificate executed by the Secretary or other comparable officer 
of Lessee, in substantially the form attached hereto as Exhibit C, completed to the 
satisfaction of Lessor; 

 

(iv) Proof of official action of Lessee’s governing body authorizing the 
execution and delivery of this Lease and performance by Lessee of its obligations 
hereunder; 

 

(v) Evidence of insurance as required by Section 7.02 hereof; 

 

(vi) All documents, including financing statements, affidavits, notices 
and similar instruments, in form satisfactory to Lessor, which Lessor deems 
necessary or appropriate at that time pursuant to Section 6.01 and 6.02; 

 

(vii) Such other items, if any, as are set forth in such Lease or are 
reasonably required by Lessor. 

 

(b) In addition, the performance by Lessor of any of its obligations pursuant to 
this Lease shall be subject to: (i) no material adverse change in the financial condition of 
Lessee since the date of this Lease, (ii) no Event of Default having occurred, and (iii) if 
no Acquisition Fund has been established, the Equipment must be accepted by Lessee no 
later than ___________________ (the “Utilization Period”). 

 

(c) Subject to satisfaction of the foregoing, Lessor will pay the Acquisition 
Amount for Equipment described in the Schedule to the Vendor upon receipt of the 
documents described in Sections 5.01(a) and (b); or if an Acquisition Fund has been 
established pursuant to an Acquisition Fund Agreement, Lessor will deposit the Acquisition 
Amount for Equipment described in the Schedule with the Acquisition Fund Custodian. 

 

(d) Lessee will cooperate with Lessor in Lessor’s review of this proposed 
Lease. Without limiting the foregoing, Lessee will provide Lessor with any documentation 


or information Lessor may request in connection with Lessor’s review of any proposed 
Lease. Such documentation may include, without limitation, documentation concerning 
the Equipment and its contemplated use and location and documentation or information 
concerning the financial status of Lessee and other matters related to Lessee. 

 

 

ARTICLE IV 

 

PAYMENT AND PREPAYMENT OF RENT 

 

Section 4.01 Rental Payments. Lessee shall promptly pay Rental Payments, in lawful 
money of the United States of America, to Lessor on the dates and in such amounts as provided 
in this Lease. Lessee shall pay Lessor a charge on any Rental Payment not paid on the date 
such payment is due at the stated rate plus fourteen percent [14%] per annum or the maximum 
amount permitted by law, whichever is less, from such date. Lessee shall not permit the federal 
government to guarantee any Rental Payments under this Lease. Rental Payments consist of 
principal and interest payments as more fully detailed on the Schedule, the interest on which begins 
to accrue as of the Commencement Date for each such Schedule. 

 

Section 4.02 Interest and Principal Components. A portion of each Rental Payment is 
paid as, and represents payment of, interest, and the balance of each Rental Payment is paid as, and 
represents payment of, principal. The Lease shall set forth the principal and interest components 
of each Rental Payment payable thereunder during the Lease Term. 

 

Section 4.03 Rental Payments to Constitute a Current Expense of Lessee. Lessor 
and Lessee understand and intend that the obligation of Lessee to pay Rental Payments under 
this Lease shall constitute a current expense of Lessee payable solely from its general fund or other 
funds that are legally available for that purpose and shall not in any way be construed to be a debt 
of Lessee in contravention of any applicable constitutional or statutory limitation or requirement 
concerning the creation of indebtedness by Lessee, nor shall anything contained herein or in a Lease 
constitute a pledge of any general tax revenues, funds or moneys of Lessee. 

 

 Section 4.04 Rental Payments to be Unconditional. Except as provided in Section 
3.03, the obligations of Lessee to make Rental Payments and to perform and observe the other 
covenants and agreements contained in this Lease shall be absolute and unconditional in all events 
without abatement, diminution, deduction, set-off or defense, for any reason, including without 
limitation any failure of the Equipment, after it has been accepted by Lessee, any defects, 
malfunctions, breakdowns or infirmities in the equipment or any accident, condemnation or 
unforeseen circumstances. Lessee’s obligations to make Rental Payments or pay other amounts 
hereunder shall not be abated on account of obsolescence or failure of the Equipment to perform 
as desired. 

 

Section 4.05 Tax Covenant. Lessee agrees that it will not take any action that would 
cause the interest component of Rental Payments to be or to become ineligible for the exclusion 
from gross income of the owner or owners thereof for federal income tax purposes, nor will it omit 
to take or cause to be taken, in timely manner, any action, which omission would cause the interest 
component of Rental Payments to be or to become ineligible for the exclusion from gross income 
of the owner or owners thereof for federal income tax purposes. Lessee makes no representation 


as to the excludability of any interest payment from federal, state, or local taxation. 

 

Section 4.06 Event of Taxability. Upon the occurrence of an Event of Taxability, the 
interest component shall be at a Taxable Rate retroactive to the date as of which the interest 
component is determined by the Internal Revenue Service to be includible in the gross income of 
the owner or owners thereof for federal income tax purposes, and Lessee will not pay any additional 
amount. 

 

For purposes of this Section, “Event of Taxability” means a determination that the interest 
component is includible for federal income tax purposes in the gross income of the owner 
thereof due to Lessee’s action or failure to take any action. 

 

Section 4.07 Mandatory Prepayment. If the Lease Proceeds are deposited into an 
Acquisition Fund, any funds remaining in the Acquisition Fund on or after the Acquisition 
Period and not applied to Equipment Costs, shall be applied by Lessor on the next Rental 
Payment date to the prepayment of the principal component of the outstanding Rental Payments 
due under the applicable Schedule in inverse order of maturity. 

 

 

ARTICLE V 

 

THE EQUIPMENT 

 

Section 5.01 Delivery, Installation and Acceptance of Equipment. (a) Lessee shall 

order the Equipment, cause the Equipment to be delivered and installed at the location specified 
in the Leases and pay any and all delivery and installation costs and other Equipment Costs in 
connection therewith (which amounts may be funded from the Acquisition Fund or amounts 
from the Acquisition Fund will be used to reimburse Lessee for any prior payment from Lessee’s 
own funds). When the Equipment listed in this Lease has been delivered and installed, Lessee 
shall promptly accept such Equipment and evidence said acceptance by executing and delivering 
to Lessor an acceptance certificate in the form attached hereto as Exhibit B. 

 

(b) Lessee shall deliver to Lessor original invoices and bills of sale (if title to such 
Equipment has passed to Lessee) relating to each item of Equipment accepted by Lessee. With 
respect to Equipment not purchased through an Acquisition Fund, Lessor shall, upon receipt of 
an Acceptance Certificate from Lessee, prepare a Schedule of Property and Rental Payment 
Schedule. Lessee shall execute and deliver such Schedules to Lessor within five (5) business 
days of receipt. 

 

Section 5.02 Enjoyment of Equipment. Lessor shall provide Lessee with quiet use and 
enjoyment of the Equipment during the Lease Term, and Lessee shall peaceably and quietly 
have, hold and enjoy the Equipment during the Lease Term, without suit, trouble or hindrance from 
Lessor, except as otherwise expressly set forth in the related Lease. Lessor shall not interfere with 
such quiet use and enjoyment during the Lease Term so long as Lessee is not in default under the 
related Lease. 

 

Section 5.03 Location; Inspection. Once installed, no item of the Equipment will be 
moved from the location specified for it in the Lease on which such item is listed without 


Lessor’s consent, which consent shall not be unreasonably withheld. Lessor shall have the right 
at all reasonable times during regular business hours to enter into and upon the property of 
Lessee for the purpose of inspecting the Equipment. 

 

Section 5.04 Use and Maintenance of the Equipment. Lessee will not install, use, 
operate, or maintain the Equipment improperly, carelessly, in violation of any applicable law or 
in a manner contrary to that contemplated by the related Lease. Lessee shall provide all permits 
and licenses, if any, necessary for the installation and operation of the Equipment. In addition, 
Lessee agrees to comply in all respects with all applicable laws, regulations and rulings of any 
legislative, executive, administrative, or judicial body; provided that Lessee may contest in good 
faith the validity or application of any such law, regulation or ruling in any reasonable manner that 
does not, in the opinion of Lessor, adversely affect the interest (including the reversionary interest) 
of Lessor in and to the Equipment or its interest or rights under the Lease. 

 

Lessee agrees that it will maintain, preserve, and keep the Equipment in good repair and 
working order, in accordance with manufacturer’s recommendations. Lessor shall have no 
responsibility to maintain, repair or make improvements or additions to the Equipment. 

 

Lessee shall not alter any item of Equipment or install any accessory, equipment or 
device on an item of Equipment if that would impair any applicable warranty, the originally 
intended function or the value of that Equipment. All repairs, parts, accessories, equipment and 
devices furnished, affixed to or installed on any Equipment, excluding temporary replacements, 
shall thereupon become subject to the interest of Lessor therein. 

 

ARTICLE VI 

TITLE AND SECURITY 

 Section 6.01 Title to the Equipment. During the Lease Term, all right, title and 
interest in and to each item of the Equipment shall be vested in Lessor. Lessee shall at all times 
protect and defend, at its own cost and expense, Lessor’s title in and to the Equipment from and 
against all claims, liens and legal processes of its creditors, and keep all Equipment free and clear of 
all such claims, liens and processes. Upon purchase of the Equipment under a Lease by Lessee 
pursuant to Section 10.01, Lessor shall transfer to Lessee title to the Equipment, as-is, without 
warranty of any kind other than as to the absence of liens created by or through Lessor, and shall 
execute and deliver to Lessee such documents as Lessee may reasonably request to evidence the 
transfer of Lessor’s right, title and interest in the Equipment subject to the related Lease. 

 

Section 6.02 Security Interest. As additional security for the payment of all of Lessee’s 
obligations under this Lease, upon the execution of this Lease, Lessee grants to Lessor a security 
interest constituting a first lien on (a) Lessee’s right, title and interest in the Equipment applicable 
to such Lease, (b) moneys and investments held from time to time in the Acquisition Fund, if any, 
and (c) any and all proceeds of any of the foregoing. Lessee agrees to execute and authorizes 
Lessor to file such notices of assignment, chattel mortgages, financing statements and other 
documents, in form satisfactory to Lessor, which Lessor deems necessary or appropriate to 


establish and maintain Lessor’s security interest in the Equipment, the Acquisition Fund and the 
proceeds thereof. 

 

Section 6.03 Personal Property. The Equipment is and will remain personal property 
and will not be deemed to be affixed to or a part of the real estate on which it may be situated, 
notwithstanding that the Equipment or any part thereof may be or hereafter become in any 
manner physically affixed or attached to real estate or any building thereon. Upon the request of 
Lessor, Lessee will, at Lessee’s expense, furnish a waiver of any interest in the Equipment from 
any party having an interest in any such real estate or building. 

 

ARTICLE VII 

 

TAXES, CHARGES AND INSURANCE 

 

Section 7.01 Liens, Taxes, Other Governmental Charges and Utility Charges. Lessee 
shall keep the Equipment free of all levies, liens, and encumbrances except those created by this 
Lease. The parties to this Agreement contemplate that the Equipment will be used for a 
governmental or proprietary purpose of Lessee and that the Equipment will therefore be exempt 
from all property taxes. If the use, possession or acquisition of any Equipment is nevertheless 
determined to be subject to taxation, Lessee shall pay when due all taxes and governmental charges 
lawfully assessed or levied against or with respect to such Equipment. Lessee shall pay all utility 
and other charges incurred in the use and maintenance of the Equipment. Lessee shall pay such 
taxes or charges as the same may become due; provided that, with respect to any such taxes or 
charges that may lawfully be paid in installments over a period of years, Lessee shall be obligated 
to pay only such installments as accrue during the Lease Term. 

 

Section 7.02 Insurance. Lessee shall during the Lease Term maintain or cause to be 
maintained casualty insurance insuring the Equipment against loss or damage by fire and all other 
risks covered by the standard extended coverage endorsement then in use in the State, and any other 
risks reasonably required by Lessor, in an amount at least equal to the then-applicable Purchase 
Price of the Equipment; provided that, with Lessor’s prior written consent, Lessee may self-insure 
against the risks described herein. Lessee shall furnish to Lessor evidence of such insurance or selfinsurance 
coverage throughout the Lease Term. Lessee shall not cancel or modify such insurance 
or self-insurance coverage in any way that would affect the interests of Lessor without first giving 
written notice thereof to Lessor at least thirty (30) days in advance of such cancellation or 
modification. 

 

Section 7.03 Advances. In the event Lessee shall fail to keep the Equipment in good 
repair and working order, Lessor may, but shall be under no obligation to, maintain and repair 
the Equipment and pay the cost thereof. All amounts so advanced by Lessor shall constitute 
additional rent for the Lease Term and Lessee covenants and agrees to pay such amounts so 
advanced by Lessor with interest thereon from the due date until paid at the rate of fourteen percent 
(14%) per annum or the maximum amount permitted by law, whichever is less. 

 

 

ARTICLE VIII 

 


DAMAGE TO AND REPLACEMENT OF EQUIPMENT 

 

Section 8.01 Damage, Destruction and Condemnation. Unless Lessee shall have 
exercised its option to purchase the Equipment by making payment of the Purchase Price as 
provided in the related Lease, if, prior to the termination of the applicable Lease Term, (a) the 
Equipment or any portion thereof is destroyed, in whole or in part, or is damaged by fire or other 
casualty or (b) title to, or the temporary use of, the Equipment or any part thereof shall be taken 
under the exercise or threat of the power of eminent domain by any governmental body or by any 
person, firm or corporation acting pursuant to governmental authority, Lessee and Lessor will 
cause the Net Proceeds of any insurance claim or condemnation award or sale under threat of 
condemnation to be applied to the prompt replacement, repair, restoration, modification or 
improvement of the Equipment. Any balance of the Net Proceeds remaining after such work has 
been completed shall be paid to Lessee. 

 

If Lessee elects to replace any item of the Equipment (the “Replaced Equipment”) pursuant 
to this Section, the replacement equipment (the “Replacement Equipment”) shall be of similar type, 
utility and condition to the Replaced Equipment and shall be of equal or greater value and 
useful life than the Replaced Equipment. Lessee shall represent, warrant and covenant to Lessor 
that each item of Replacement Equipment is free and clear of all claims, liens, security interests 
and encumbrances, excepting only those liens created by or through Lessor, and shall provide to 
Lessor any and all documents as Lessor may reasonably request in connection with the 
replacement, including, but not limited to, documentation in form and substance satisfactory to 
Lessor evidencing Lessor’s title in the Replacement Equipment. Lessor and Lessee hereby 
acknowledge and agree that any Replacement Equipment acquired pursuant to this paragraph 
shall constitute “Equipment” for purposes of this Agreement and the related Lease. Lessee shall 
complete the documentation of Replacement Equipment on or before the next Rent Payment date 
after the occurrence of a casualty event or be required to exercise the Purchase Option with respect 
to the damaged equipment. 

 

For purposes of this Article, the term “Net Proceeds” shall mean the amount remaining 
from the gross proceeds of any insurance claim or condemnation award or sale under threat of 
condemnation after deducting all expenses, including attorneys’ fees, incurred in the collection 
thereof. 

 

Section 8.02 Insufficiency of Net Proceeds. If the Net Proceeds are insufficient to pay 
in full the cost of any repair, restoration, modification or improvement referred to in Section 
8.01, Lessee shall either (a) complete such replacement, repair, restoration, modification or 
improvement and pay any costs thereof in excess of the amount of the Net Proceeds, or (b) pay 
or cause to be paid to Lessor the amount of the then applicable Purchase Price for the Equipment, 
and, upon such payment, the applicable Lease Term shall terminate and Lessor’s interest in the 
Equipment shall terminate as provided in Section 6.01. The amount of the Net Proceeds, if any, 
remaining after completing such repair, restoration, modification or improvement or after 
purchasing such Equipment and such other Equipment shall be retained by Lessee. If Lessee 
shall make any payments pursuant to this Section, Lessee shall not be entitled to any reimbursement 
therefor from Lessor nor shall Lessee be entitled to any diminution of the amounts payable under 
Article IV. 

 


 

ARTICLE IX 
WARRANTIES 

Section 9.01 Disclaimer of Warranties. Lessor makes no warranty or representation, 

either express or implied, as to the value, design, condition, merchantability or fitness for particular 
purpose or fitness for use of the Equipment, or any other warranty or representation, express or 
implied, with respect thereto and, as to Lessor, Lessee’s acquisition of the Equipment shall be on 
an “as is” basis. In no event shall Lessor be liable for any incidental, indirect, special or 
consequential damage in connection with or arising out of this Agreement, this Lease, the 
Equipment or the existence, furnishing, functioning or Lessee’s use of any item, product or service 
provided for in this Agreement or Lease. 

 

 Section 9.02 Vendor’s Warranties. Lessor hereby irrevocably appoints Lessee its agent 
and attorney-in-fact during the Lease Term, so long as Lessee shall not be in default under 
the related Lease, to assert from time to time whatever claims and rights (including without 
limitation warranties) relating to the Equipment that Lessor may have against Vendor. Lessee’s 
sole remedy for the breach of such warranty, indemnification or representation shall be against 
Vendor of the Equipment, and not against Lessor. Any such matter shall not have any effect 
whatsoever on the rights of Lessor with respect to this Lease, including the right to receive full and 
timely payments under a Lease. Lessee expressly acknowledges that Lessor makes, and has made, 
no representations or warranties whatsoever as to the existence or the availability of such warranties 
by Lessor of the Equipment. 

 

 

ARTICLE X 

PURCHASE OF EQUIPMENT 

 Section 10.01 Purchase Option. Lessee shall have the option to purchase all of the 
Equipment listed in a Lease, upon giving written notice to Lessor at least thirty (30), but not more 
than one hundred twenty (120), days before the date of purchase, at the following times and upon the 
following terms: 

 

(a) From and after the date specified in the related Schedule (the “Purchase 
Option Commencement Date”), on the Rental Payment dates specified in the Lease, 
upon payment in full of the Rental Payments then due under such Lease plus the then 
applicable Purchase Price, which may include a prepayment premium on the unpaid 
balance as set forth in the applicable Schedule; or 

 

(b) In the event of substantial damage to or destruction or condemnation of 
substantially all of the Equipment listed in a Lease, on the day specified in Lessee’s 
notice to Lessor of its exercise of the purchase option upon payment in full to Lessor of the 
Rental Payments then due under such Lease plus the then applicable Purchase Price; or 

 

(c) Upon the expiration of the Lease Term, upon payment in full of all Rental 
Payments then due and all other amounts then owing under the Lease, and the payment of 


$10.00 to Lessor. 

 

After payment of the applicable Purchase Price, Lessee will own the related Equipment, 
and Lessor’s right, title and interests in and to such Equipment will be transferred and terminated 
in accordance with Section 6.01. 

 

 

ARTICLE XI 
ASSIGNMENT 

Section 11.01 Assignment by Lessor. Lessor’s right, title and interest in and to Rental 
Payments and any other amounts payable by Lessee under the Lease, its interest in the Equipment 
subject to each such Lease, and all proceeds therefrom may be assigned and reassigned in whole or 
in part to one or more assignees or sub-assignees by Lessor, without the necessity of obtaining the 
consent of Lessee; provided, however, that any such assignment, transfer or conveyance to a 
trustee for the benefit of owners of certificates of participation shall be made in a manner that 
conforms to any applicable State law. Nothing in this Section 11.01 shall be construed, however, 
to prevent Lessor from executing any such assignment, transfer or conveyance that does not involve 
funding through the use of certificates of participation within the meaning of applicable State law, 
including any such assignment, transfer or conveyance as part of a multiple asset pool to a 
partnership or trust, interests in which are offered and sold in a private placement or limited offering 
only to investors whom Lessor reasonably believes are qualified institutional buyers or accredited 
investors within the meaning of the applicable federal securities law; provided further, however, that 
in any event, Lessee shall not be required to make Rental Payments, to send notices or to otherwise 
deal with respect to matters arising under a Lease with or to more than one individual or entity. No 
assignment, transfer or conveyance permitted by this Section 11.01 shall be effective until Lessee 
shall have received a written notice of assignment that discloses the name and address of each 
such assignee; provided, however, that if such assignment is made to a bank or trust company as 
trustee or paying agent for owners of certificates of participation, trust certificates or partnership 
interests with respect to the Rental Payments payable under a Lease, it shall thereafter be sufficient 
that Lessee receives notice of the name and address of the bank or trust company as trustee or paying 
agent. During the term of the Lease, Lessee shall keep, or cause to be kept, a complete and accurate 
record of all such assignments in form necessary to comply with Section 149 of the Code. Lessee 
shall retain all such notices as a register of all assignees and shall make all payments to the assignee 
or assignees designated in such register. Lessee shall not have the right to and shall not assert 
against any assignee any claim, counterclaim or other right Lessee may have against Lessor or 
the Vendor. Assignments in part may include without limitation assignment of all of Lessor’s 
interest in and to the Equipment listed in a particular Lease and all rights in, to and under the Lease 
related to such Equipment. The option granted in this Section may be separately exercised from time 
to time with respect to the Equipment listed in the Lease, but such option does not permit the 
assignment of less than all of Lessor’s interests in the Equipment listed in a single Lease. Lessor 
acknowledges and agrees that any assignment under this Section shall not, and shall not purport 
to, alter or modify in any respect Lessee’s obligations to perform in accordance with the terms of 
this Agreement and the related Lease in accordance with their terms as originally executed. Any 
assignment under this Section shall be subject to the condition that Lessee shall incur no costs nor 
be required to provide or execute any documents or participate in any manner in connection with 


such assignment, and Lessor and any such assignee shall be solely responsible for compliance 
with all securities and other laws in connection with such assignment. Lessor acknowledges that 
this Agreement and the Lease has not been and will not be registered under the Securities Act of 
1933 or any state securities laws and that Lessee has not and will not prepare any offering or 
disclosure materials or documents for use in connection with this Agreement or any assignment 
under this Section. 

 

Section 11.02 Assignment and Subleasing by Lessee. None of Lessee’s right, title, and 
interest in, to and under this Lease or any portion of the Equipment may be assigned or encumbered 
by Lessee for any reason. 

 

ARTICLE XII 
DEFAULTS AND REMEDIES 

Section 12.01 Events of Default Defined. Any of the following events shall constitute 
an “Event of Default” under a Lease: 

 

(a) Failure by Lessee to pay any Rental Payment or other payment required to be 
paid under this Lease at the time specified herein; 

 

(b) Failure by Lessee to observe and perform any covenant, condition or 
agreement on its part to be observed or performed, other than as referred to in subparagraph 
(a) above, for a period of thirty ( 30) days after written notice specifying such failure 
and requesting that it be remedied is given to Lessee by Lessor, unless Lessor shall 
agree in writing to an extension of such time prior to its expiration; provided that, if the 
failure stated in the notice cannot be corrected within the applicable period, Lessor will 
not unreasonably withhold its consent to an extension of such time if corrective action 
is instituted by Lessee within the applicable period and diligently pursued until the default 
is corrected; 

 

(c) Any statement, representation or warranty made by Lessee in or pursuant to 
this Lease or its execution, delivery or performance shall prove to have been false, incorrect, 
misleading, or breached in any material respect on the date when made; 

 

(d) Any default occurs under any other agreement for borrowing money or 
receiving credit under which Lessee may be obligated as borrower, if such default consists 
of (i) the failure to pay any indebtedness when due or (ii) the failure to perform any other 
obligation thereunder and gives the holder of the indebtedness the right to accelerate the 
indebtedness or pursue other remedies; 

 

(e) Lessee shall (i) apply for or consent to the appointment of a receiver, 
trustee, custodian or liquidator of Lessee, or of all or a substantial part of the assets of 
Lessee, (ii) be unable, fail or admit in writing its inability generally to pay its debts as 
they become due, (iii) make a general assignment for the benefit of creditors, (iv) have an 
order for relief entered against it under applicable federal bankruptcy law, or (v) file a 
voluntary petition in bankruptcy or a petition or an answer seeking reorganization or an 


arrangement with creditors or taking advantage of any insolvency law or any answer 
admitting the material allegations of a petition filed against Lessee in any bankruptcy, 
reorganization or insolvency proceeding; or 

 

(f) An order, judgment or decree shall be entered by any court of competent 
jurisdiction, approving a petition or appointing a receiver, trustee, custodian or liquidator or 
Lessee or of all or a substantial part of the assets of Lessee, in each case without its 
application, approval or consent, and such order, judgment or decree shall continue unstayed 
and in effect for any period of thirty (30) consecutive days. 

 

Section 12.02 Remedies on Default. Whenever any Event of Default exists, 
Lessor shall have the right, at its sole option without any further demand or notice, to take 
one or any combination of the following remedial steps: 

 

(a) By written notice to Lessee, Lessor may without terminating such Lease, 
collect each Rental Payment payable by Lessee pursuant to such Lease and other amounts 
payable by Lessee under such Lease as they become due and payable; 

 

(b) With or without terminating the Lease Term under such Lease, Lessor 
may enter the premises where the Equipment listed in such Lease is located and retake 
possession of such Equipment or require Lessee at Lessee’s expense to promptly return any 
or all of such Equipment to the possession of Lessor at such place within the United States 
as Lessor shall specify, and sell or lease such Equipment or, for the account of Lessee, 
sublease such Equipment, continuing to hold Lessee liable, but solely from legally 
available funds, for the difference between (i) the Rental Payments payable by Lessee 
pursuant to such Lease and other amounts related to such Lease or the Equipment listed 
therein that are payable by Lessee to the end of the Lease Term, and (ii) the net proceeds of 
any such sale, leasing or subleasing (after deducting all expenses of Lessor in exercising its 
remedies under such Lease, including without limitation all expenses of taking possession, 
storing, reconditioning and selling or leasing such Equipment and all brokerage, 
auctioneer’s and attorney’s fees). The exercise of any such remedies respecting any such 
Event of Default shall not relieve Lessee of any other liabilities under any other Lease or 
the Equipment listed therein; 

 

(c) Lessor may take whatever action at law or in equity may appear necessary or 
desirable to enforce its rights under such Lease or as a secured party in any or all of the 
Equipment subject to such Lease; and 

 

(d) By action pursuant to Florida law, or as otherwise provided by law, obtain 
the issuance of a writ of mandamus enforcing, for the entire balance of the remaining Lease 
Term, the duty of Lessee to appropriate and take all other administrative steps necessary for 
the payment of rents, and other amounts due hereunder. 

 

Section 12.03 No Remedy Exclusive. No remedy herein conferred upon or reserved to 
Lessor is intended to be exclusive and every such remedy shall be cumulative and shall be in 
addition to every other remedy given under this Lease now or hereafter existing at law or in equity, 
provided that Lessor shall have no right to accelerate any Rental Payment or otherwise declare any 
Rental Payment or other amount payable not then in default to be immediately due and payable. 


No delay or omission to exercise any right or power accruing upon any default shall impair any 
such right or power or shall be construed to be a waiver thereof, but any such right or power may 
be exercised from time to time and as often as may be deemed expedient. In order to entitle Lessor 
to exercise any remedy reserved to it in this Article it shall not be necessary to give any notice other 
than such notice as may be required in this Article. 

 

Section 12.04 Application of Moneys. Any net proceeds from the exercise of any 
remedy under this Agreement, including the application specified in Section 12.02(b)(ii) (after 
deducting all expenses of Lessor in exercising such remedies including without limitation all 
expenses of taking possession, storing, reconditioning and selling or leasing Equipment and all 
brokerage, auctioneer’s or attorney’s fees), shall be applied as follows: 

 

(a) If such remedy is exercised solely with respect to a single Lease, Equipment 
listed in such Lease or rights thereunder, then to amounts due pursuant to such Lease 
and other amounts related to such Lease or such Equipment. 

 

ARTICLE XIII 
MISCELLANEOUS 

Section 13.01 Notices. All notices, certificates or other communications under this Lease 
shall be sufficiently given and shall be deemed given when delivered or mailed by registered mail, 
postage prepaid, or delivered by overnight courier, or sent by facsimile transmission (with 
electronic confirmation) to the parties hereto at the addresses immediately after the signatures to 
this Agreement (or at such other address as either party hereto shall designate in writing to the other 
for notices to such party) and to any assignee at its address as it appears on the registration books 
maintained by Lessee. 

 

Section 13.02 E-Verify. The Lessor shall comply with and perform all provisions of Section 
448.095, Florida Statutes. Accordingly, as a condition precedent to entering into this Agreement, 
Lessor shall register with and use the United States Department of Homeland Security’s E-Verify 
system to verify the work authorization status of all newly hired employees. If the Lessor anticipates 
entering into agreements with a subcontractor for services under this Agreement, Lessor will not 
enter into the subcontractor agreement without first receiving an affidavit from the subcontractor 
regarding compliance with Section 448.095, Florida Statutes, and stating that the subcontractor has 
registered with and uses the E-Verify system and does not employ, contract with, or subcontract 
with an unauthorized alien. Lessor shall maintain a copy of such affidavit for the duration of the 
agreement and provide a copy to the Lessee upon request. Any party may terminate this Agreement 
or any subcontract hereunder if there is a good faith belief on the part of the terminating party that 
a contracting party has knowingly violated Section 448.09(1), Florida Statutes. Upon such 
termination, Lessor shall be liable for any additional costs incurred by the Lessee because of the 
termination. If the Lessee has a good faith belief that a subcontractor has violated Section 448.095, 
Florida Statutes, but the Lessor has otherwise complied with its obligations hereunder, the Lessee 
shall promptly notify the Lessor. The Lessor agrees to immediately terminate the agreement with 
the subcontractor upon notice from the Lessee. 

 


Section 13.03 Release and Indemnification. To the extent permitted by law, but only 
from legally available funds, without waiving available insurance coverage, and only up to the 
monetary limits of liability granted in Section 768.28, Florida Statutes). Lessee shall indemnify, 
protect, hold harmless, save and keep harmless Lessor from and against any and all liability, 
obligation, loss, claim, tax and damage whatsoever, regardless of cause thereof, and all expenses 
in connection therewith (including, without limitation, counsel fees and expenses, penalties 
connected therewith imposed on interest received) arising out of or as a result of (a) the entering 
into of this Agreement or Lease, (b) the ownership of any item of the Equipment, (c) the ordering, 
acquisition, use, operation, condition, purchase, delivery, rejection, storage or return of any item of 
the Equipment, (d) any accident in connection with the operation, use, condition, possession, 
storage or return of any item of the Equipment resulting in damage to property or injury to or 
death to any person, and/or (e) the breach of any covenant in the Lease or any material 
misrepresentation contained in the Lease. The indemnification arising under this paragraph shall 
continue in full force and effect notwithstanding the full payment of all obligations under all Leases 
or the termination of the Lease Term under all Leases for any reason. Notwithstanding the 
foregoing, nothing herein shall be deemed as a waiver of the Lessee ’s sovereign immunity or the 
Lessee’s limits of liability as set forth in Section 768.28, Florida Statutes or other law, and nothing 
in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim 
which would otherwise be barred under such limitations of liability or by operation of law. 

 

Section 13.04 Binding Effect. This Agreement and Lease shall inure to the benefit of 
and shall be binding upon Lessor and Lessee and their respective successors and assigns. 

 

Section 13.05 Severability. In the event any provision of this Agreement and/or Lease 
shall be held invalid or unenforceable by any court of competent jurisdiction, such holding shall 
not invalidate or render unenforceable any other provision hereof. 

 

Section 13.06 Amendments, Changes and Modifications. This Agreement and Lease 
may only be amended by Lessor and Lessee in writing. 

 

Section 13.07 Execution in Counterparts. This Agreement and Lease may be 
simultaneously executed in several counterparts, each of which shall be an original and all of which 
shall constitute but one and the same instrument. 

 

Section 13.08 Applicable Law. This Agreement and Lease shall be governed by and 
construed in accordance with the laws of the State. 

 

Section 13.09 Captions. The captions or headings in this Agreement and in this Lease are 
for convenience only and in no way define, limit or describe the scope or intent of any provisions 
or sections herein. 

 

[Signatures on following page] 

 


 

IN WITNESS WHEREOF, Lessor and Lessee have caused this Agreement to be 
executed in their names by their duly authorized representatives as of the date first above written. 

 

 

 

LESSOR: LESSEE: 

THM Leasing, LLC Lake Deer 

1653 Crump Rd Community Development District 

Winter Haven, Florida 33881 219 East Livingston Street 

 Orlando, Florida 32801 

 Attention: District Manager 

 

 

 

 

By By 

 

Title Title 

 

 

 

 

 


EXHIBIT A 

SCHEDULE OF PROPERTY NO. 1 

Dated:_March __, 2024 

 

Re: Pool Furniture and Playground Equipment Lease/Purchase Agreement, dated as of 
March __, 2024, by and between THM Leasing, LLC as Lessor, and the Lake Deer 
Community Development District, as Lessee 

 

1. Defined Terms. All terms used herein have the meanings ascribed to them in the 
above-referenced Pool Furniture and Playground Equipment Lease/Purchase Agreement (the 
“Pool Furniture and Playground Equipment Lease”). 

 

 2. Equipment. The following items of Equipment are hereby included under this 
Schedule of the Pool Furniture and Playground Equipment Lease: 

 

[See Attached Exhibit A-2] 

 

3. Payment Schedule. 

 

(a) Rental Payments. The Rental Payments shall be in such amounts and 
payable on such dates as set forth in the Rental Payment Schedule attached to this Schedule as 
Exhibit A-1. 

 

(b) Purchase Price Schedule. The Purchase Price on each Rental Payment 
date for the Equipment listed in this Schedule shall be the amount set forth for such Rental Payment 
date in the “Purchase Price” column of the Rental Payment Schedule attached to this Schedule. 
The Purchase Price is in addition to all Rental Payments then due under this Schedule (including 
the Rental Payment shown on the same line in the Rental Payment Schedule). 

 

4. Representations, Warranties and Covenants. Lessee hereby represents, 
warrants and covenants that its representations, warranties and covenants set forth in the Pool 
Furniture and Playground Equipment Lease are true and correct as though made on the date of 
commencement of Rental Payments on this Schedule. Lessee further represents and warrants that 
no material adverse change in Lessee’s financial condition has occurred since the date of the 
Pool Furniture and Playground Equipment Lease. 

 

5. The Lease. The terms and provisions of the Pool Furniture and Playground 
Equipment Lease are hereby incorporated into this Schedule by reference and made a part hereof. 

 

 

 

[Remainder of Page Intentionally Left Blank] 


6. Purchase Option Commencement Date. For purposes of Section 10.01 of the 
Lease, the Purchase Option Commencement Date is March __, 2024. 

 

 

 

LESSOR: LESSEE: 

THM Leasing, LLC Lake Deer Community Development District 

1653 Crump Rd 219 East Livingston Street 

 Winter Haven, Florida 33880 Orlando, Florida 32801 

 Attention: District Manager 

 

 

 

 

By By 

 

Title Title 

 

 

 

 

This Counterpart No. 1 must be manually executed and in serially numbered counterparts. To the 
extent that this Lease constitutes chattel paper (as defined in the Uniform Commercial Code), no 
security interest herein may be created through the transfer or possession of any Counterpart other than 
this Counterpart No. 1. 

 


EXHIBIT A-1 

RENTAL PAYMENT SCHEDULE 

 


EXHIBIT A-2 

EQUIPMENT 

 

 


EXHIBIT B 
ACCEPTANCE CERTIFICATE 

 

 

THM Leasing, LLC 

1653 Crump Rd 

Winter Haven, Florida 33881 

 

Re: Schedule of Property No. 1, dated March __, 2024, to Pool Furniture and 
Playground Equipment Lease/Purchase Agreement, dated as of March __, 
2024, between THM Leasing, LLC, as Lessor, and the Lake Deer 
Community Development District, as Lessee. 

 

Ladies and Gentlemen: 

 

In accordance with the Pool Furniture and Playground Equipment Lease/Purchase 
Agreement (the “Agreement”), the undersigned Lessee hereby certifies and represents to, and 
agrees with Lessor as follows: 

 

1. All of the Equipment (as such term is defined in the Agreement) listed in the 
above-referenced Schedule of Property (the “Schedule”) has been delivered, installed and accepted 
on the date hereof. 

 

2. Lessee has conducted such inspection and/or testing of the Equipment listed in the 
Schedule as it deems necessary and appropriate and hereby acknowledges that it accepts the 
Equipment for all purposes. 

 

3. Lessee is currently maintaining the insurance coverage required by Section 7.02 of 
the Agreement. 

 

4. No event or condition that constitutes, or with notice or lapse of time, or both, 
would constitute, an Event of Default (as defined in the Agreement) exists at the date hereof. 

 

 

 

Date: March __, 2024 

 

LESSEE: 

Lake Deer Community Development District 

 

 

 

By 

 

Title 

 


EXHIBIT C 

CERTIFICATE 

The undersigned, a duly elected Chairman of the Board of Supervisors of the Lake DeerCommunity Development District, certified as follows: 

A. 
The following listed persons are duly elected and acting officials of the 
B. 
Lake Deer Community Development District, as Lessee (the “Officials”) in the 
capacity set forth opposite their respective names below and that the facsimile 
signatures are true and correct as of the date hereof. 
B. The Officials are duly authorized, on behalf of Lessee, to negotiate, execute and 
deliver the Pool Furniture and Playground Equipment Lease/Purchase Agreement dated as of 
March __, 2024 and the Schedule(s) thereunder and all future Schedule(s) (the “Agreements”) 
by and between Lessee and THM Leasing, LLC, and these Agreements are binding and authorized 
Agreements of Lessee, enforceable in all respects in accordance with their terms. 
Name of Official Title 
Signature 

Dated By 
Title 
(Seal) 
The signer of this Certificate cannot be listed above as authorized to execute the Agreements. 

E-1