EXHIBIT 3(5)
--------------------------------------------------------------------------------
HEWLETT
PACKARD LEASE SCHEDULE # CNS-1
--------------------------------------------------------------------------------
MASTER AGREEMENT # REFERENCE # DATE OF SCHEDULE
----------------------------- --------------------- ----------------------------
7411 SEPTEMBER 1, 1999
----------------------------- --------------------- ----------------------------
Between: NEURO-BIOTECH INC. (the "Customer").
and HEWLETT-PACKARD (CANADA) LTD. (the "HP")
Check One:
1a. TERM. (EQUIPMENT HP INSTALLED). The term of this Schedule (the "Lease
/ / Term") shall commence immediately on the date indicated on HP's
signed installation report or Delivery and Acceptance Certificate for
such Equipment, which date shall be deemed to be the date of delivery
and acceptance of such Equipment, by the Customer.
1b. TERM. (EQUIPMENT CUSTOMER INSTALLED). The term of the Schedule (the
/ / "Lease Term") shall commence on the first date indicated on HP's
waybill for such Equipment, which date shall be deemed to be the date
of delivery and acceptance of such Equipment, by the Customer.
The Lease Term shall continue for the minimum period of months (the
"Lease Term") which is specified below and may thereafter be
terminated by either party at any time on or after the end of the
Lease Term, by giving the other party forty-five (45) days prior
written notice thereof, failing which the Lease Term shall
automatically continue beyond the expiry of the Lease Term on a
monthly basis on the same terms and conditions as provided for herein
and in the Agreement.
2. RENT. As rent for the lease of the Equipment covered by this
Schedule, Customer agrees to pay HP throughout the Lease Term hereof,
48 consecutive monthly installments of $31,060.15 each. The first
such installment being due and payable on the commencement date of
the Lease Term.
----------------------------------------------------------
MONTHLY LEASE PAYMENT
----------------------------------------------------------
Buyout Lease Payment: $27,811.04
----------------------------------------------------------
Receivable Lease Payment: 3,249.11
----------------------------------------------------------
Sub-Total: $31,060.15
----------------------------------------------------------
Hardware Maintenance: N/A
----------------------------------------------------------
H/W Uplift (if applicable): N/A
----------------------------------------------------------
Sub-Total $31,060.15
----------------------------------------------------------
GST: 2,174.21
----------------------------------------------------------
PST/HST/QST: 2,492.58
----------------------------------------------------------
TOTAL MONTHLY LEASE PAYMENT: $35,726.94
----------------------------------------------------------
3. EQUIPMENT LEASED. The following terms of Equipment are hereby leased
by HP to the Customer on the terms and conditions specified in this
Schedule which shall form a part of and be subject to the terms and
conditions of the Agreement.
-------- ------------------------- ------------------------------------ -------------------- -------------------- -----------------
QTY MODEL NO. DESCRIPTION SERIAL NO. NET PRICE/UNIT TOTAL AMOUNT
-------- ------------------------- ------------------------------------ -------------------- -------------------- -----------------
1 REFINANCING OF BUYOUTS ON AGREEMENTS 7044-1A, 2, 3, 4, 5, 7, 8, 9, 10, 11, 12,
14, 16, 17, 18, 19, 20, AND 21 (EQUIPMENT LISTS ATTACHED) $1,117,377.95 $1,117.377.9
-------- ----------------------------------------------------------------------------------- -------------------- -----------------
-------- ----------------------------------------------------------------------------------- -------------------- -----------------
1 REFINANCING OF OUTSTANDING INVOICES ON ABOVE REFERENCED AGREEMENTS $133,089.78 $133,089.78
-------- ----------------------------------------------------------------------------------- -------------------- -----------------
-------- ------------------------- ------------------------------------ -------------------- -------------------- -----------------
TOTAL COST OF EQUIPMENT COVERED BY THIS SCHEDULE: $1,250,467.73
----------------------------------------------------------------------------------------------------------------- -----------------
4. INSTALLATION ADDRESS ________________________________________________
(if different than Customer address) Street Address
________________________________________________
City/Province/Postal Code
5. CUSTOMER PURCHASE ORDER. Customer will | |/ will not | | deliver to
HP, within ten (10) days following the date of signing and delivering
this Schedule to HP, Customer's form of purchase order respecting the
terms and conditions of the Agreement and Schedule.
6. LEASE CREDIT APPROVAL. It is a condition precedent to Execution of
this Schedule that Customer has received credit approval from HP and
that this Schedule has been co-signed by a Finance Representative of
HP.
EXHIBITS: THE EXHIBITS LISTED BELOW ARE ATTACHED HERETO AND FORM
PART OF THIS AGREEMENT.
------------------------------------- -----------------------------
DOCUMENT NAME REFERENCE #
------------------------------------- -----------------------------
Equipment List ILS Reports
------------------------------------- -----------------------------
Program Rider TF008LEA
------------------------------------- -----------------------------
Pre-Authorized Payment Approval TF018PAP
------------------------------------- -----------------------------
------------------------------------- -----------------------------
7. END OF TERM OPTION:
At the expiration of the full Lease Term, title to the Equipment will
automatically transfer to the Customer.
The above terms and conditions become a part of and subject to the terms and
conditions of the Master Equipment Lease Agreement and Lease Schedule, which,
except as modified herein, remains in full force and effect.
In witness whereof the parties hereto have executed this Agreement as of the
1st day of September, 1999.
------------------------------------- ----------------------------------------
NEURO-BIOTECH INC. HEWLETT-PACKARD (CANADA) LTD.
------------------------------------- ----------------------------------------
------------------------------------- ----------------------------------------
Authorized Signature Authorized Signature
------------------------------------- ----------------------------------------
Typed Name & Title Type Name & Title
------------------------------------- ----------------------------------------
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
------------------------------------- ----------------------------------------
City, Province Postal Code City, Province Postal Code
-2-
