The URL can be used to link to this page

Home My WebLink About0553 1 v ~ ~ . j ~ . ~ ' ~ _ ~ . . . + s „ . Purcha~er lurther w~ arran, ts and coven,antfi: . J . i i i 6. The etateinentn and repreaentjs~ions made by the Purch~eer herein ~ and aigned ~y Purcha9er are true. Purcbaeer will imme- diately not~ty SeUer or assigaee ia wslti~a~ , a! ~?uy chaxige in or discontinuaace o f P u r c 2~ a er'a p L ~ o e oi reeidence or p l i ce ur p l a c e s of ~ buedne~w vrhichever ia or are aet forth in aatd atatemen~ ~ w 7. No nnancing atutement cove ~g the ColCateral ie on lfle in' anj? public, o~ce, and a~ reques~ af Sella~, Plu~ehaae,r vvilt ~oir? with Seller in executing one or rnore Snanr c~rig atatementss pursusiit to the Uniform Commet~cial Code, ~n farrn eatiefactory to $eller and will , pay khe oost of sling the s~me ~n all public o83c~s wheraver 91ivg in dee~ed necesrsry or desirable by 9ellr.r. Purchaner will not sell or offer to seA or otherwiae tranatet or encumber the Collsteral or eay intereat the~in without written ~ consent af 8eller; will keep the Collateral in good osder and repair and wiU nat wa~te or destroy the Colleteri?1. ~ 9. PurchaseP admits, upon examination, that the Collateral is gs represented hy Seller and acknowledges acceptance and delivery thereot comptete with attachments and eqWpt~aent ,in good. c0~1d1tiQn an~, rep~ir. ;Seller mey" eia?iniii~ ateEl ixis~t the CoIIateral at any time, wherever located. 10. Seller may correct patent errore herein and itt Ute note. ~ 11. Any notice to Au.rbiaser ahall be eufficiently given when mailed to Purchaaer'e eddreee stated above. 12. Puxrhaser will keep the Collateral insured at all times against laae by Sre and/or other haaexda concerning which, in the judgment of the Seller, ineuranee ~rotection is reasonably necesanr~?, in a compauy or compat~ies sstisiactory to the 8eller and in ~ amounts sufficient to protect.3eller against loas or damage to esid Collaterel, that [such policy or policies oi inaurance ialll be delivereci + to the Seller, together rvith loes payable clauees in favor of the $eiler as its intar~t may appeur, in iorm eatiatsctory to the $eller. ' 13. Upon the happening of any of the following events or conditia~, aa~mely: (I) ddault in the payment or pedorrnance o! any j of the Obllgations or e~ any covefisnt or liubility aontained or referred Lo hereln or in any note evidencing any of the Obligationa; ~ (II) any warranty, repre~e}xta~lan or etatement made or turninhed to Seller by ar on be~ll.ot Purchaeer in connectio~n with this a$ree- ~ ment or to induce Seller to make a loan to Purchaeer proving to have been false in any materisl reapect when made or furniahed; (III) 1 loas, theit, substantial dauiage. destruction, sale ar encumbrance to or oi sny of the "Cbllatesal, or the makin$ oi any levy, aeizure or . ~ attachment thereoi or tt~e~eon; (IV) death, disecrlution, termination of exietetioe, i~mwlrency, bu~iness failure, sppointment of a reteiver of any part oi the properfy of, asaiBnment for the beneSt of creditore by, or the ~mmeneem~t of aay proceeding under any bank- ruptcy or ins~lvency laws •b~i or ag~ltiet, Purcbaser or any guarantor or eurety for Purobs~er; Ufereupon, eY at any ti~ne therealter (suc,h default not having pretiously been cureci) V) or if Seller deems iteel! inaecured, Sellez ~t ife optiQn may decIare all o! the abligaiions to be immediately due and payable,and shall then have the reiuediea o! a seller under the law, including, w3thout limita- tion thento, the right to take possesainn of •the Collateral. and !or thnt gurpwc 8eller may, so far as ~urchaaer c~n give authorlty therefor, enter upon any~tpFamises on v~hich the Collateral or any part thereoi may -be tuated end remove the eame therefrom. Seller may 'requite Purr.haser tb mske the ~ollsteral available to Sellez at a pLcd to be de~ated by geiler which is reason~bly oonvessient to both partiee, $e33er will give Purchaser at least flve days' prior written notice of the kime and plsce oi any public sale thereo! or of the time after which any private eale or any other intended diapoaition thereoi ia to be made, and at +euip euch pubHc oz priva~te ~ale S~eile~C lmar .~se the Collnteral. 14. T~S ~meikL snd t~he aecurtty inter~t in the CoUateral crn.atad bcrebq ehall terminate when the Obligationa have been paid in f~ilt. No 'iva,iv~r by ~eller of any default ahall be effective unl~e in writtng nor operate as s watver oi any other default or o~ the aatne d~su1L. o~ ~uture occa8ion Seller ia authorLxed ta 1i11 iu any blaak ts~seeb herein au~d to date this agreement aPP~~Y• j A12 Lt ot ae#tet hereunder atiali inure to the beneSt o! the heire, dceartora, adtrilniatrstore, succ.~sorn and aaelgna of Seller; and all a~t of P~ucb~er st~a11 bfnd the heirs~ executors. a+dminlatrstors, auoce~eore and assigns of Pum.hsaeer. It there be more than ori~ ' ; thtlt obligutions hereimder ehall be jolnt and several. This Agreetnent ahsll be deemed to be binding on the Pu~cbaaer ~pcjqt' `~1g llia ~ its signatnre but shall not become a completed contract until algned also by the Seller. Tta~s Agreement at~all be co~eQ s~g to the ]Sw Oi the $tate af ~bhio. 1lf. It ia understood and agreed that thie instrument and the promissory note executed herewith may be ssaigried to a third party. Upon noUce of guch assignment, Purehaser agrees to make all paymenta at the office o! the named asaignee and Purchaser acknowl- edges that Shce; is not an agent~ ot eµch aseignee !or any pur~op P?~rehaser herebyr ~?grees tLat such sasign~ment shall be free ot any and all d~fe~nses-wtiich Purchsaer may •have againat 8elier arld ~Ptachaaer agreea tb settle all claima againet $ellEr directly wit2z Seller end not to set up any such eiaina in aay action brought bq asaignee. i6. Thia Security Agreement containe the entire agre~ment between the parties, and no oral agreement ahs?ll be binding. ~ A,~38IGF~T AI~tD WAIERAN'1R I For value received, the undersigned does hereby aell, as~ign, transfer, and set over unto DEPENDABLE ACCE~'TANCE CO., ite succeasors and aasigns, all oi its right, tfYle and intereat in and to the within aecurity agreement, the amount~ due and to becotne due thereunder and to the Collatersl therein deacribed, bereby granting lull power to the eaid asaignee, either in the assigt~ee'e own nnme or in the name of the underaigned, to take all such legsl or other proceedinga aa the underaigned might I~ave taken eyccept !or thia asaignment. The undereigned v?atrsnt~s t'Fi~L t2?p ~in instrument and the note aecured thereby are genuine and in all respectg wb~?t they pur~ ' port to be; tbst W frts.taqs~l .!aontained th~Ttfn are true; that the within security interest is the Sret and beat lien upon the Collateral described ther+etn; that there are no d~enses, covnterclaime, or sek-offp thereto that all pa~rties ta the foreg~oing instrument have ca- pecity to contnat,' s~d tbat tbe underd~ned has no knowledge oi any fa+cte~ which impsir the validity or value oi dther the said pote or the withfn eecurity agrcement. 'I~r e~dd~ned ~YMre~nt~r't1~a! t1~e rp~id note aad eeaurlty ligr~eement arise aett o! a isons Sde sale made in compiiance with the law from the underafgned #a ~e Puee~sex' ~ed in the sgre~ement for the amount therein, the Cflllateral deacribed therein Ls~ been ac- cepted by the Pu:r~iaser, that the down peyment was made by the Purchaeer in caah, unleea otherwise speciScaIIy stwted in the agree- i mm~ arid thst t?tE C~1h p~+enf indirsted in eaid agreement has been reCeived and/or tt~at t2~e allowance given for the trade-in fa in Che amG~ut~k Mtlpnla#bd !~t E116 uga~edmeeit: nay dr....~lULY i~~. nacea tn~s ............2$I.H . . 3 ; ~ B . . Uf~.. T.U~.I.t~...GD...- - • y . Q' ~ ~ . ~ , °