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Home My WebLink About2993 ~ ~ TERM3 AND CONDITION3 1. TITLB AND $SCUAITY INTSRB~I`. For ths purpoeo of sscurin~ ths obligatious hereunder. 3SI.I,ER reeerves title, and ehaU havs a sswrity interest. in ~aid equipment, iadudin~ +~ll e~luiPmsnt, attac~menta and aooeesariee n~w or hereafter attachsd to or plaoed on said equipment, until tbe balenos dae hereunder s fully paic~ in cash, at~d all tt~ oonditions herein oontained are lt~lfilled, and on~y tharsupon will title and ownership paes to BUYER. BUYBR ahall, if Cartificate of 4 'IStle and/or Registrataon be required by lsw in respect of any item of equipment, obtain euch Cairti8c~ts and/or ~ s6owina ths lien hereof aAd do everythin8 neoeeearY to azPedite, to prenerve, or perfed auch lien. ~~°tion ~ 2. A33IGNM~NT. . - : ' ; ~ A: BUYER shall not aesign this Contrad nor sball this Con4~ac~ or aqy rights to t6s equipment vuvered hereby inure { t to the bsneSt of aqy trustes in banioruptcy. reoeiver. tn~stee or suooeeeor of BUYER or its P~'oP~Y. Whether by operstion of lsw or ot~rwise, wit6out the written ooneent of 3SLLER. In no event shall aqy transfer, renew~al~ eztension or aaBignment of t6is Contrad, or intere~et hereunder, or any 1oea, daniage or deet~uction of said equipment releaee BUYER from his ~ obligations hereunder. I B. SELLER may aesigu or otherwiee tranefer this Contrad and the amounta due or to beoome due hereunder and if + so aseigned snd tranaferred, it ahall be free of any and all oounterclaims, o~sets, defenees or cTOes-oomplainte as against euch essignee, BUY$R reserving such rsmedies hereunder eolely against 3SLLSR. Tbe.term "SEI.LSR" wherever ueed in this Contract indudes SELLER'S suaoeaeore at~d assig~, ezoept as msy be otherwiee p~u~ti~uJady sEated herein. 3. IN3URANCE. ~ ~ A. BUYSR~ at its own expenee, (i) ehall carry? adequate public liability inauranoe agai~t bodily iniury. induding ~ death, and a8~~ P~P~Y ~~Be. (u) shall keep all equigment inaured at the full insurable value thereof against 6re, ~ tt~eft (broad fo=m) and windstoi'm. and (iii) shall carry a~llision insuranoe on each item of equipment. All ineuranoe on the equipment shall be with loeeee, if any, PaYable to 3FLLTR or ita as~signs as Llieir intereBts may appear. BUYLR ahall furniah SEI.LS~t with oertific~tes of insursnoe evidencing tbe ooverage required hereu4 which aertificatea ahall provide for ten (10) days' notioe of cancellation by t,he insurer to SELLEB, B. It is e:preaafy undeegtAOd and agreed that SELLBR is not raquir~ed to procure or pumha~e any insuranoe or to eztend c:e+edit to BUYER for tbe price of any ineuranoe e=cept to the erteat udicated on the faoe of thia Contract. If the cost of such insuranoe ia not included herein and Bt1YER does not deliver evidenoe of such insuranoe to SELLEB within ten (10) days from the date hereof or prior Lo tennination of any ieeued insurance, as tbe caee rnay be, the ~ELLBft may but ia not obtigated to purchaee same, and in that event, BUYEA agrees to pay the pi+emium tberefor as an additional part of the obligation secured hereunder, together with interest thereon at the higheet lawful oontrad rate. either on demand or in equal inetallmenta ooncun~ently with the installmenta of t6e anpaid balanoe thei? remaininB PaYable h~ereunder. at the sole option of 3ELI.ER. C. BUYER hereby aesigna to 3ELLER the proc~eeda of all suc~? inaurance (induding any refund of premiuma) to the , eatent of the balance unpaid hereunder, directa any it~surer to mal~e payment directly to SELLF.R, appoints SELLER as ~ Attorney-in-Fact to endor~ any draft, and autl~orizes SELLER to apply sud~ procee~ds to the payment of it~stallments due ! or to become due hereunder or toward the replaoement of the property, at the sole option of $ELLSR. 4. TAXES. BUYER ahall pay all tazes. a~esmente or lioenee fees that may be aseeeeed against the equipment, or the manufacture, transportation, sale, uee or mortgag~e thereof or of any matter oonnectsd therewith or on this inetrument and shall reimbuise 9ELI.ER for amoants equsl to any tazee, feee. and aeeee~e~nenta howsoever designated, levied or b~eed upon this Contrad or the equipment or use or operation thereof, or any tazes, fees and esBeaea~ents or amounts in lieu thereof paid by or payable by SELI.ER in reapect of the foregoing, ezciosive of frandiise ts~ces and tazee measured by the net inoome of SELLER. 5. WARRANTY. A. No warranty, ezpreas or implied, and no repreeentations, promises, or statements have been made by SELLER ~ unleas endo:sed hereon in writing, eicept that if the equipment oovered by this Contract ie aew equipment, SELLER (but ' not SELI.FR'3 asaigne~) hereby adopts the warrsnty sgainet defective material8 or workmanehip as eet forth in the manu- facturer's cunent warranty app~}pvg to such new equipment. BUYER agrees that any deecxiption of the year and model of the eq~ipment on the faoe of this Contract is for identification purposeB only and doee iwt aonstitute a repreeentation or ~ warranty as to ssme. ~ f B. SELLER will deliver to BiJYER the manufacturer'a waasaty form for each new item of equipment to enable BUYER to obtain. customary warranty servioe furnished therefor by the manufadurer through its dealers. 6. CARE OF EQUIPMENT. A. BUYER oovenants that the equipment has been received and is in g~ooci oondition aud repair and oovenants to take the best care of the equipment at BUYER'3 own ezpenee. BtJYER ahall pravide and pay for, at its own ezpenae, all rePairs, rePlacements. Parte, s~PPliea, labor and tools as shall be neoeesary to keep and maintain the equipment in Srst claes mechanical o~ndition and repair and in suc6 mechanical oondition as is adequate to oomply with ICC regulatans and the ~ laws of any state in whic6 BUYER shatl oQerate the equipment. All r+ep~aira, replsoementa. P~rt~, suPPlies. acc~eaeories, attachrnente and devioes furaished or affized to auch equipment shall thereupon, unlees otherwiae ag~eed in wri,r,ing, beoome the property of 3ELLER. SELLER shall not be liable to BiJYER for any loes, damage or ezpenee of any kind or matter caused, directly or indirectly, by any equipment sold hereunder, or by the uee or maintenance thereaf, or repairs, servicing ~ or adjustments tt,ereto, or by aay delay or failure to provide any of the same, or by any interruption of semc~e or loes of uee thereof. or for any loes of busineee, or dsmage whatsoever and howeoever caused. B. BUYER ahall no~ permit anyone to injure, deface or remove any plate or deec~iption showing msnufactarer's ~ serial number, model number and the lilce aet forth on the equipment. BLTYEA ag~+ees to fumish, maintain and replace tirea ~ on said equipment at BUYER'S ezpenee, which tires shall be free of liens and beoome the property of the SELLER. ~ t C. In the event that the{equipment ahall not. in the opinion of the 9EI.LER, be maintained en good and e~cient ' working order. oondition and r~pair ea hereinabove provided, the 3ELLER wit6out prejudioe to any other of ite rights or ~ remediee may give written notioe to BUYER to put auch equipment in good working order and oondition, and replaoe any 1 broken parta (induding worn or damaged tires)~ and in the event BLJYER doee not, within thirty (30) days from t6e date of auch notioe, aompty with-the requiremeats ther~ein set forth, the 9ELLER may (but is not oWigated to) cauee such equip- ~ ment to be put in good working order and oondition, the e~enee thereof to be paid by the BiJYER upon demand. ~ ~ gaox~67 PACE~~S1 v~ _ ~ - ~ "-~s.~~' ~ - j ' ~ y ~u.w..rw ~~3~"`~:.,- ~~.~€~;~~'.c~. r.: } - ~r. , ~