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HomeMy WebLinkAbout26370. R. ~r~ OTHER CONDITIONS OF CONTRACT - • ' ' S T. L UC1~ C~CI,~N j~', ~'~ , . If any payment Is no made w then a ad3ys after due date, Buyer agrees to pay late charges of five cents f5c) per dollar in addition to the regular instalment, but not exceeding the lawful maximum and Buyer agreds to pay court costs plus attorney's fees of 15ro of the unpaid balance upon a default or;.35, whichever is greater, for if prohibited DY law sucA sum ss is permissible) incurred in effecting collection. Title to the merchandise shall not Dass to Buyer Until the Time Balance has been fully paid in cash. Buyer shall be res~~nsible for any loss of or damage to said property. Should Buyer fail to pay said Time Balance or anY Dart thereof when due, the entire unpaid balance shall at Seller's election become due immediately, or Seller may, without notice, demand or legal process, take possession of the merehhandise wherever }orated and retain all monies paid thereon for the use of said merchandise. Seller may thereupon sell said Merchandise at public or private sale and apply the proceeds after deducting expenses and liens, to the payment of said indebtedness, and pay the surplus, if any, to Buyer. In case of a deficiency Buyer will pay the same at once. All rights and remedies herein contained are cumulative and not alternative. The roar*twndise shall remain personal property regardless of any atFixatien to realty. Buyer shall be responsible for obtaining all necessary governmental permit& and make, or bear all expense of making changes in his property required by law fx governmental regulation. Time is of the essence hereof. This agreemer.' may be assigned without notice to Buyer and when so assigned, shall be free troal arty defense, counterclaim or cross complaint. My note given in connection with this proposal or contract is understooa to he as evidence of, and not in payment of, the obligation hereunder, and may be sego- fisted without waiving any condition hereof, even though at the time of execution it may be temporarily attached hereto. This constitutes the entire agreement between Buyer and Seller and no oral modification hereof shall be valid. Buyer certifies that the credit information furnished by him in connection with this sate is true. Buyer certifies that there is or Is to be no extension of credit In connection with the purchase of the merchandise herein described other ttian that evidenced by this agreement. ASSlGN111!E!!* TO GENFRAI EIECTRIt CREDIT CORr'ORATION, Te lnduu you !o purcha re IM rithln Inrtrvrenl, rlgned by eM a wore bvyen R.en)n colbd "auger") fM nndenlgned ~arranb the} (1) avyer'r cndil rte taro rnl rubmtrted hereritl, Ir wbrtanKnlly tru• unlerr olherrlre rpsciMdt (4t avYer ror al Iwst 21 Ywrr el eqe and otMrrhe IMally corpeteil to contract of tM time, of IM •aKUrion of said in,trvment; IJ) wld inrtrvmrnf arose from tM bona ed. tab of tM Droprrty dr•rcri bed 1n raid fr.rtrvmentt {41 tM dorn payment ror rad• by 6uYer in each and not Itr pvi.obnt unlur oth rrrir• ipKiMd, and no poA thereof ror leaned directly or indirKtly by 1M nndenfgned fo sugary (SJ tMn h nor orinq on roid Inrtru scent the on,ovnt ar ut /orih thesis; (61 rata inrirv- ^ent and oil /varantoei wbmit»d In cennKNOn thenrlN, an in all reipecis lepolly enfo«eabb oga!nrt eoch pur?acted rip natory tMreol and pt fM undrniq ned has th• right fo aui/• •ald fnilrvmrnt and tMnby co•,rey good title to It and to wId property, for ratty recehed, tM rndenlgned Mnby orrlgnr fo Yov ell IN 1nNrgd fn said Inrlrvwenf oral D:vpery and authorizer Yev to do werything nKeswry to collKt and di rchary• fh• ra.e, All the Mrmr or ony uLtinp rrl Men oyrNenntr beh.Nn tM rndKri/reed and yw ors wade ~ part hKNf by reference, and underApr,rd undentondr fhot You rely upon tM show varrontier and upon roid agrNmenh In purcharin0 roil fnitrvmeol. Neither tM npownlon of the ro[d prowrtY rror the avyer for on7 cove, nor faflan M lfle w record MIr inrfrv meM Then ,grind 6y ler (lf MIn/ th• dory •f fb• nndwrl/ned 1• el• •r rKHrI 1h• Innrvrsnt) shall nleo re the raderclgr»d fror undenl/ned'r obligation Mnuntler, and in raid o/rNnMtr, rltb you. (St-e d6ar /id• for Dealss'q aignoluro to Asaipnseolf NOTICE OF PROPOSED GROUP FIFE INSURANCE~If the life insurance option is elected on the reverse side hereof, life insurance, providin; benefits in the event of death or total and permanent disability under a Group Creditors Life Insurance Policy issued by THE PRUDENTtAI INSURANCE COMPANY OF AMERICA, Hewark, tt. 1., is contemplated in connection with this Contract on the life of buyer whose signature appears in the insurance option box, provided this Contract is assigned to General Electric Credit Corporation, or General Electric Credit Corporation of Georgia. Such insurance, if obtained, will become effective from the date from which finance charges on the indebtedness accrue and a certi~ cafe describing it will be furnished within 30 days. The insurance will tin absence of default on instalment payments) remain in force subject to the terms of said policy, until discharge of the indebtedness. Insurance proceeds will be applied to reduce or extinguish the indebted- ness remaining unpaid and any balance will be paid to buyer, if firing, otherwise to his estate. The death benefit is payable if buyer dies while insured under said policy. The total ar.d permanent disabi~tty benefit is payable if buyer. beccmes totally and permanently disabled while insured under said policy and remains so disabled and insured thereunder for a ~.vaiting period aqua! to the lesser of (a) 6 months or tb) one-hal( the full scheduled term of the indebtedness. The amount payable in the event buyer dies or become~•totaily and permanently disabled will he the amount necessary to discharge the indebtedness at death or at the end of said waiting period, as the case may be, reduce in the latter instance by the amount .of all instalments then due and unpaid. In no event shall more than $15,000 be so payable with respect to atl indebtedness of buyer the durations of which are concurrent in whole or in part. If life insurance does not become effective or a charge therefor in excess of the above limit is made, an appropriate refund or credit will be made. In the event of termination of the insurance prior tp Wattirity of this Contract, any untamed portior. of the life insurance charge ibased on "The Rule cf 78" refund formula), will be promptly paid or credited, if $1.00 6r more. The refund formula is on file with the State Insurance Department where required and with the assignee referred to above. NOTICE OF PROPOSED GROUP PROPERTY INSURANCE-If the property insurance option is elected on the reverse side hereof, property insurance is contemplated under a Group Credit Property Insurance Policy issued to General Electric Credit Corporation and/or General Electric Credit Corporation of Georgia (herein- after collectively called "Creditor'? by ELECTRIC MUTUAL LIABILITY INSURANCE COMPANY, Lynn, fAass. covering all merchandise listed on the reverse tide of this Contract against loss or destruction by oee a1 more of the following hazards-fire, lightning, windstorm, Hoed, explosion and theft lbut excluding such hazards as war, strike, rots, electrical disturbances within the merchandise, ordinary wear and tear and fr-'Idulent conversioN. It is understood that such insurance is available only if this Contract 's assigned to Creditor and if actepted by the insurer will become effective from the date from which finance charges on the indebtedness accrue. The insurance will !!n absence of default on installment payments) remain in force, subject to the terms of said policy until discharge of the indebtedness. In the event any or alt of the covered merchandise is lust or destroyed by one of the covered hazards, insurer will pay the onpaid balance of this Contract to the Creditor on your behalf and pay you the actual installed vd)ue of said merchandise less said unpaid balance less normal depreciation. If said merchandise is damaged by one of the covered hazards, Insurer will pay the cost of repsirin~ such damsgge. In no event shall more than ;50,000 be so payable with respect to covered merchandise on any one premise. In the event of termination of the Insurance prior to scheduled maturity of -this Contract, any unearned portior of the property insurance charge will be promptly paid or credited ff ~l.ll0 or wore.