FINANCIAL_SERVICESAMENDED

District amends Apple lease purchase for $502K tech

Monmouth County Vocational School District amended its September 1, 2026 Lease Purchase Agreement with Apple Inc. to clarify legal title, tax responsibilities, and New Jersey statutory compliance while financing $502,163.00 in Apple computer equipment under Schedule No. 1. The amended agreement confirms Apple’s role as financial lessor and sets a payment schedule through July 15, 2029 with an original issue discount and defined federal tax yield.

Status
AMENDED
Document date
September 1, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Apple Inc
Agency
Mcvsd · NJ

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WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$502,163.00 (principal amount); discounted purchase price $491,686.83; Payment No. 1 $150,000.00 then four annual payments of $123,313.60 (total payments $642,940.80)
Contract type
FINANCIAL_SERVICES
Contract term
Commencement Date September 1, 2026; payments on 9/1/2026 and annually on 7/15/2027, 7/15/2028, 7/15/2029
Renewal date
2029-07-15
Renewal
Lease Purchase Agreement dated September 1, 2026 remains in full force except as amended; lease term runs through the final scheduled payment on July 15, 2029 with an end-of-term resale option allowing Lessee to sell the equipment back to Lessor or its designee at specified fair market value prices if conditions are met. No automatic renewal is described; obligations end upon full prepayment or completion of term and any exercised resale or return conditions.
Document type
Contract
Source document
Monmouth County Vocational School District Lease Purchase Agreement Amendment 2026-09-01

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Mcvsd?

Apple Inc was awarded this financial services contract by Mcvsd, as recorded on September 1, 2026. The contract value is $502,163.00 (principal amount); discounted purchase price $491,686.83; Payment No. 1 $150,000.00 then four annual payments of $123,313.60 (total payments $642,940.80).

How much is the Apple Inc contract with Mcvsd worth?

The Apple Inc contract with Mcvsd is valued at $502,163.00 (principal amount); discounted purchase price $491,686.83; Payment No. 1 $150,000.00 then four annual payments of $123,313.60 (total payments $642,940.80), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a contract record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Monmouth County Vocational School District Lease Purchase Agreement Amendment 2026-09-01 (Contract), dated September 1, 2026 from Mcvsd. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Apple Inc hold?

Apple Inc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Apple Inc's profile

What is Mcvsd currently buying?

Explore Mcvsd's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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