LETTER OF INTENT TO DONATE
Date: Decembe_r_1_, 2_0_23 ____ _
Malpaso Productions, LTD
10100 Santa Monica Blvd., Suite 650
Los Angeles, CA 90067
Burbank Police Department
275 East Olive Ave.
Burbank, CA 91502
RE: Donation to Burbank Police Department
This Letter of Intent (the "Letter") sets forth the terms and conditions of the Donation described hereunder and shall govern the relationship between the Donor and Donee (the "Parties"). Within 30 days of the date of the donation, Donee will provide Donor with a completed IRS Form 1098-C. The Donation considered in this Letter is subject in all respects to the following:
1. DONOR. Malpaso Productions, LTD (the "Donor").
2. DONEE. Burbank Police Department (the "Donee").
3. DONATION. The Donor wishes to make the following donation (the "Donation"): (check one) D- One-Time Monetary Donation. The Donor wishes to make a one-time monetary donation to the Donee in the amount of$ ____ _
D -Monthly Pledge. The Donor wishes to make a monthly donation of$ to the Donee, beginning and: (check one)
D ending , for a total donation of$ _____ _
D ongoing until further notice.
D -Annual Pledge. The Donor wishes to make an annual donation of$ to the Donee each year for __ years, beginning , for a total donation of$ ____ _
~ - Other. The Donor wishes to donate the following to the Donee:
Donation of 1- 1986 Eurocopter AS350B1 (Airbus) I Spiral Number - 1930 Registration Number - N26CE at the appraised value of $825,000.00
4. DONATION DESIGNATION. The Donation should be used for the following purpose(s):
The helicopter is to be used by the Donee exclusively for public purposes.
5. ALTERATIONS TO DONATION DESIGNATION. The Donee may need to alter the donation designation to ensure that current priorities are met. Should this be required, the Donee will respect the initial intent of this Letter as closely as possible and shall not transfer the helicopter prior to the third anniversary date of the Donation without providing the Donor with a certification described in Internal Revenue Code Section 170(e)(1)(D) sufficient to preserve Donor's income tax deduction.
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6. DONATION RECOGNITION. The Donor agrees: (check one)
~ - To be recognized for the donation under the following name(s):
Malpaso Productions, LTD
D
7. METHOD OF PAYMENT . If the Donation is monetary, payment shall be provided to the Do nee as follows: (check one)
0-Cash .
0- Check. Checks made payable to: ------------------
0- Credit Card. Card Information:
-----------------~
0- Automatic Withdrawal. The Donor authorizes the Donee to withdraw funds from its financial institution account. (attach void check)
Donor's Signature:....._ ___________ __. Date: ______ _
8. ORGANIZATION TYPE. The Donee is an organization that is: (check one) ~-Described in lntern~I Revenue Code Section 170(c). Therefore, the donation may be tax-deductible to the extent allowed by law.
0- Not described in Internal Revenue Code Section 170(c).
9. CURRENCY. All mentions of currency or the usage of the "$" icon shall be known as referring to the US Dollar.
10. GOVERNING LAW. This Letter shall be governed under the laws in the State of
CALIFORNIA -
11. ACCEPTANCE. If you are agreeable to the aforementioned terms, please sign and return a duplicate copy of this Letter by no later than December 15, 2023, in which case the parties shall complete the transfer of the helicopter to the Donee on or before December 31, 2023.
12. INTENTION OF THE PARTIES. This Letter shall be legally binding.
13. SIGNATURES.
Print Name: Malpaso Productions, LTD. Howard M. Bernstein, President Donee's Signature: .__ ___________ __.Date: ______ _
Print Name: ----------
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