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Ford Motor Credit Company The American Road P.O.Box 1739 Dearborn,Michigan 48121-1739 September 20,2005 Chief Jerry Braam Pequot Lakes Police Department Re:Ford Municipal Finance Program-Quotation for Pequot Lakes City,MN Bid Number:43242C Dear Chief Braam: Thank you for your request for quote. Please review the following finance quote for Pequot Lakes City. Rates and payment factors are applicable for total amounts funded from$75,000-$149,999. The quote is good until 12/31/2005 Vehicle delivery must take place and'all required documentation and Vd payment (jf required) must be received by this date. Aker 12/31/2005,rates and Payments are subject to change. T' ance proposal applies to: Quantity,, �., 4 Descri hon Price 2006 void 11 ��, }@> 24,486.00 3 6.50%Sales Tax @$1,591.59 $4,774.77 A Documentation Fee of $350 is required per transaction not per unit that can be paid at delivery or funded over the term (included below). (Range) Number of Payment Payment Total Amount Funded Pavinents Payment Timing A.P.R. Factor Amount $78,582.77 � ` MON in Adv 5.8% 0.023281 ,Q • Payments are calculated by multiplying total amount financed times the payment factor. The Ford Municipal lease-purchase finance plan requires no security deposit, has no prepayment penalty, no mileage penalty, or hidden fees. At inception, the new equipment titletregistration indicates the municipality as Registered Owner, and designates Ford Motor Credit Com , P.O. Box 1739, Dearborn, MI 48121-1739, as First Lienholder. Please note: Ford Credit's financing is subject to: 1)completed and notarized Municipal Finance Application;2) review and approval of the Municipality's most recent audited financial statement;and 3)mutually acceptable documentation. if you need additional information, please contact me at 1-800-241-4199, and press 1. Thank you for your interest in Ford municipal financing. Sincerely, Barbara Lyons Barbara Lyons Marketing Coordinator