SELF -INSURANCE ADDENDUM TO MASTER EQUITY LEASE AGREEMENT (Liability Only)
This Addendum is made to the Master Equity Lease Agreement dated t he _____ of May 2025, as amended (the "Agreement"), by and between Enterprise FM Trust, a Delaware statutory trust ("Lessor") and the lessee whose name is set forth on the signature line below ("Lessee").
This Addendum is attached to and made a part of the Agreement (including each Schedule to the Agreement). All capitalized terms used and not otherwise defined herein shall have the respective meanings ascribed to them in the Agreement.
Notwithstanding the provisions of Section 11 of the Agreement, Lessee shall be permitted to assume and self -insure the risks covered by the Commercial Automobile Liability insurance policy set forth in Section 11 of the Agreement and shall not be required to purchase or maintain any Commercial Automobile Liability insurance policy of any kind with respect to any Vehicle; provided, however, that if any Federal, state, local or other law, statute, rule, regulation or ordinance requires Lessee to maintain any amount of Comm ercial Automobile Liability insurance with respect to any Vehicle, Lessee shall purchase and maintain such amount of Commercial Automobile Liab ility insurance in the form of a Commercial Automobile Liability insurance policy which complies in all respects, other than the amount of Co mmercial Automobile Liability insurance required, with Section 11 of the Agreement.
Notwithstanding the foregoing, if (1) Lessor, at any time in its good faith judgment, is not satisfied with the condition, prospects or performances, financial or otherwise, of Lessee or (2) any default or event of default occurs under the Agreemen t, than Lessor may, at its option, revoke this Addendum and terminate Lessee's right to self -insure by providing Lessee with at least thirty (30) days prior written notice thereof. Upon the termination of Lessee's right to self-insure, Lessee shall comply in all respects with Section 11 of the Agreement.
Except as amended hereby, all the terms and provisions of the Agreement shall remain in full force and effect. In the event of any conflict between this Addendum and the Agreement or a ny of the Schedules, the terms and provisions of this Addendum will govern and control.
LESSEE: City of Salinas LESSOR: Enterprise FM Trust
By: Enterprise Fleet Management, Inc., its attorney in fact
_________________________________ _________________________________
By: By:
Title: Title:
Date Signed:_______________________, _______ Date Signed:________________________, _______
August 29, 2025