This bid is for tax-exempt equipment lease-purchase financing at 6700 Delilah Road, Egg Harbor Township, NJ 08234-5623.
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What the job is
Amount and term: $3,340,000 over five years; bank-qualified financing.
Principal payments: $668,000 annually on March 1, 2027 through March 1, 2031.
Interest: Payable semiannually on March 1 and September 1, starting March 1, 2027, using a 360-day year/30-day month.
Rate commitment: Hold the quoted rate for 30 days after approval; include an adjustment formula using 70% of the change in the matched-maturity ICE swap rate for delayed funding.
Quote details: Include an amortization schedule, prepayment options and penalties, and all fees, including any escrow costs. Escrow services are optional.
Lease terms: Payments depend on annual funding availability, with equipment returned if funding is unavailable. The lender holds equipment title during the lease, with a $1 purchase option at completion.
XL Eagle