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~CCEL/~k. <br />Government Software <br />April 4, 2007 <br />Cabarrus County, NC <br />Debbie Brannan <br />ITS Director <br />Cabarrus County <br />65 Church Street, South <br />Concord, North Carolina 28026-0707 <br />Re: Accela Financing <br />Dear Ms. Brannan: <br />We are pleased to offer the following terms for financing your Accela technology acquisition <br />Lessor: Government Capital Corporation' <br />Lessee: Cabarrus County <br />Financing structure: Municipal Lease Purchase Agreement <br />Residual $1.00 upon contract completion <br />Project: Licenses, services and five years of maintenance <br />Capital Cost Estimate: $ 710,410 <br />Term: 5 Years <br />Payment 1 $ 250,000.00 June 1, 2007 <br />Payments 2-5 $ 122,471.57 commencing December 15, 2007 <br />Effective Interest RateZ: 2.99% <br />Assumed contract date: May 15, 2007 <br />Offer expires: May 1, 2007 <br />The above terms are subject to audit analysis, bank qualifications and mutually acceptable <br />documentation. Proposed funding conditional based upon full disbursement to Accela within five (5) <br />business days of closing. <br />Sincerely, <br />Edward L. King <br />Government Capital Corporation <br />(817) 722-0236 Direct <br />Government Capital Corporation serves as underwriter for Accela Financial Services <br />s Effective Interest Rate reflects AFS Incentive based upon proposed sales price financed at a discount to achieve effective rate. <br />Financed amount and nominal rate may vary at closing but payment amounts are fixed. <br />G-~l <br />