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Port C RIGMTZ ANO OeL18AT10N= OF PARTIES +
Pr~oorT~nt oed R•bo~~ oi F~nonc• Chor4~• Th~ Buy~r n+oy pr~pey oll or ony por~ of th~ r~m~ bolonc~ ot ony tim•
and upon pr~poym~nt in (ull will r~c~iv~ o r~bot• cf ~M W1~OfMd pOrfiOn of ~As fieo~c~ cF~o~g~, provid~d t6ot ii» 1~cur~d •
Poety is ~ntitl~d to e linone• ehary~ of a1 I~oat 515.00 ond is no~ r~avir~d ~o ~~bet~ ~f I~ss rhon f1.00. ~
2. R~~nsfot~m~n~. Th~ S~cvr~d Po~ty is not r~quired to r~instot~ if Buytr d~foults.
3. Th• Buy~r .~or~s~nts thot oll stot~en~nts in lhis ayr~~me~t or~ tru~ ond eorr~et fo th• b~st of his knowl~dy~. ~ :
1. Th~ B~y~r o9.~es ~hor h~ will ~o~ntoin i~suronc~ oo th~ Collot~rol oqoinst risk o( loss by collision. (ir~ (i~cludiny ;
so•coll~d ~Yt~nd~d cov~rag~) and th~it, in on omount suf(ici~nt ro poy th• d~bt in (ull, bss to b~ poyobl~ os tM int~r~st
of th~ porri~s nwy opp~ar, ond furnisl~ proof oi insuronc~ on r~au~st; not rewwv~ ~M Collet~rol f~om th~ Stat~ oi Micl~iQan (or
e p~riod ~n ~:e~ss of sixty (60)doys, nor s~ll, trons/t~, o~ ~ntumb~~ it without th~ prior written tons~ef of th~ S~cur~d Party; ~
• ~noirqq~n:fh~ .CoU~t~rel o~d not ebus~, mi:us~, o~ unlow(ully us• i~; ~x~eut• such pop~rs ond poy such eosts as ~ay b• ;
~ n~c~isory fo p~rl~tf, continu~, or t~rminot~ th~ a~curity in~~r~st of th~ S~cured Porty; r~imburs~ ~h~ S~cor~d Po.~y (orthwilh '
for' ony r~osonobl~ t:p~ns~s incurr~d b~cous~ of ony default ot th~ Buyer; poy o d~luvlt ~chory~ of twe (2%) P~r nnt per j
month (or ony d~linauent poym~nt as provid~d by statut~; ond not p~r~it eth~rs to do ony oct prohibited h~r~in.
S_ Th~ S~cured Pory sho~l hov• 1h• riyht to cur~ in whole or in po~t ony d~fovlt of 1h• Bur~r, but shall nof b~ 06-
ligor•d so 1o do. 5
6. Th~ "d~b~" a~cu~ed by this og.~em~nt lnclud~: any and ell ind~bt~dn~ss of the Buy~r to th~ hold~r M?~of o( '
~i ~
;w~ry kind b~al d~scripfioe ~aist~ng ~n onr copocity whotso~wr o~ ony 1im~ prie• t~ th~ t~~rninotioe h~no(.
7_ I( ony r~p~~s~ntation: oF ths Buy~r prove to hav• bHn •falss or misl~adiny in ony- mat~~iol r~sp~c1 wh~e ewd~ o• -
ivrnish~d, or i( h• aholl d~(aul~ or attemp~ to d~foul~ ~n ony oyr~~meM h~r~in wntoin~d, or i( h~ sholl conc~ol ~ny o/ fh• _
Collot~ro) o~ sholl b~come insolv~nt, bonkrupt or hav~ o r~c~iver opPo~nt~d, 1Mn th~ S~cur~d Pa~ty ~uay d~clar~ rA• ~nrir• ~
cw+o~~~ th~n .~nw;n~ng u~po~d h~r~und~r, or s~cored Mnby, to b~ du~ and payobi~ lorthwitA ond, without no~ic~, ~oy tok~
poss~ssion of eh• Colfot~rol br I~pal proe~st ot othinvis~. Upon d~mond, th~ Buy~~ oy~~~s to ass~mbl~ tF~~ Collot~ral qnd
~ok~ it ovoilobl• to tb~ S~cured Party ot o plac• to b• d~signot~d dy th~ Stcor~d Parfy +rhieh is hasonobly convani~nt to
both porti~s. Th• S~cur~d Poiry n~oy dispoai of tl+s Co!IoNrol ~n any w~onn~r permilt~d br stotut~ ond fh~ d.br ~ar b•
forc~d in on ottion at law_ If nolic~ o~ disposition of ti~• Collot~rol is rpuir~d, th~ S~cut~d Porty moy s~nd it to th• Buy~t
by ordino~y moil to ths oddr~ss shoMrn h~r~in or to such oth~r oddr~ss os tM Buy~r say M~~aft~r provid~ in writiny. My
notic~ ieoil~d not I~ss ~6on a~v~n (7) doys prior ~o th• disposition of tM Collot~~ol sholl constitut~ "r~oso~obl~ notifico-
tion". Th~ Buy~r ayr~~s to Poy th~ rwsonablt olfo~n~ys' F~~s ond 1~901 ~xp~ns~s incurr~d by th~S~cur~d Porfy andanyd~- '
Iiciency. `
8. Th~ S~eur~d Porty sholl hov~ such odditionalrights as p~ovid~d by aay epplicebl~ statut~.
9. li ony port i»r~o( is controry fo, prohibited by, or d~~~w~d involid u~d~r applicobl• lows or ?~yulations of any
~ jurisdiction, such provision sholl b~ d~~m~d inopplicobl• or omittsd as to soid jurisdittion, but shall not invalidof~ th~
nmaininy provisions her~of. If mor~ thon or» joins in fhe ~x~cution h~r~of as Buy~r, this obliyotion sholl b~ d~~n~~d joint
ond s~v~rol, ond if any party b~ of th~ (~minin• s~x, o portn~rship, w o corporotion, o~ otM? I~yol ~ntity, tM pronouns ond
nlativ~ words h~r~in us~d shall b~ r~od es if writt~~ in f~sinin~, ~Iwol o? n~ut~r, r~sP~etiv~ly. Ae~r ossiynN oF th~ S~-
cur~d Po?tr shall hov~ th• aow~ riqhts as tM S~cur~d Party.
NARRANTY AND Ail161iMEMT tY 6EALER
To induc• THE Or10550 SAVINGS BANK, Owosso, Mich. w pwchos~ tM attoch~d S~curity /yr~Nn~nt,
th~ D~ol~r wa~ronts tKot oll stotNaents of foct within th~ knowl~dy~ of *h~ D~ol~. tMr~in contoin~d er~ t?u~; tlwt th~ Ayr~~-
nwnt r~pr~s~nts e ~ol~d d•~•?..d vore.~r obl~9o~~0.~ fo~ th~ o~ount th~r~in s~tforth ofe bone fii~ pu?choat as th~r~in d~-
~ scrib~d, thot the Ayr~~m~nt ond any accomponyiny docum~nts un q~nuin~ in ollr~sp~ets ondor~ whet fl~ep r~sp~etiv~ly
~ purport to b~; thot th• Bur~r hod fh~ copacity to con~.aet; thar w th~ tim~ of th~ ~xecution of soid oyre~aant tM Mol~r had
sood t~tl~ to th• Pu~chos~d i.ollot~rol ond ths ?i9ht to t?ons(~r unincumb~r~d titl• th~?~to; tha~ o c~r1i(ico» oi titl• in tM
oaai• of th~ Buy~r showin4 o s~curity int~nst in th~ Bonk l~as MM o~ will b~ oppli~d (or proe~ptly; that th~ Purchas~d
~ Collo~~rol was not i~ th• pos~sssioo of th~ Buy~r prior to tl~e ~x~eution o( th~ S~euriry A~r~~Mnt; thot no port o/ th~ down
peym~nt was loon~d dir~ctty or indir~ctly by th~ D~ol~r to th~ Bur~.; and thot th~ Ayr~tment is in full coa~plianc~ witb th~
g Motw V~hicl~ Sol~s Financ• Act. Th~r~ ar~ no modificotions to tM abov~ worranfi~s unl~ss sho~rn b~bw in tM sPoc~
~ nwrk~d "Marranty E:c~ptions".
FOR VALUE RECEIVED, th~ D~ol~r do~s h~r~by s~ll, ossiqn and tronsf~r to above bank
its succ~;sors ond ossiyns, rh~ o»oc6~d S~curity Ayr~~w~~nt, tM d~bt and oll of I~is ripht, titl~ end
int~r~st,i~ ond to th• Pro~rry th~r~in describ~d, with outhoriry to takt, ~ith~r in its own nom~ or in th~ noa» oI tIN D~ol~r, •t
but lor its orn b~n~fi~, oll sucl~ proc~~dinys os fh~ D~ol~r miy~t hav~ tok~n but for this ossiynnwnt. ~
Th~ ~voiv~r or induly~nc~ of th~ Bonk with ~~sp~ct to th• prov~sions o( th• Securitp Ayr~~m~nt shall not r~l~as~ th•
Dwl~r of any obiiyotion to r~yurchas• h~r~in contoin~d. Th~ D~ol~r sap r~purchas• the S~curify Ayr~~M ot anr tiw~
uPon perm~nt of th~ omount du~ th~r~on and, nothinp to th~ controrr in t!N S~curity Ayr~~w~nt eontain~d, ~xp~~sslr o~r~~s
upon d~nwnd to so r~pu?cFas~ uoon tb~ br~ach or (oilure of onr o/ fh~ abov~ worronti~s, or ~n occordone~ with miy additionol
riyl~ts oi ~~cou~s• Mr~inoh~r d~serib~d. If this assiqnment is with "R~eowsi th~ D~31~r oyrNS, rithout n~c~ssitr for
pior oction by tl» Bonk oyeinst tM Buy~r, to poy th~ bolenc~ du• on th~ S.eu.~~r A~r...•e~ in Full if th~ Buy~~ feils to
pay onr instollw~nt wMn du~ or d~(aults in any oth~r provision of tM ~cu?itp Asrt~nt; if wi~ "Li~if~d R~cwrsi', th•
D~al~i s obliyaiion to r~pu?cbos• sholl b~ limit~d to a d~foylt or d~(oults occurrin9 within th~ nuwb~?of fnstollw~~nts
sp~cifi~d; ond if "Mithour R~eoursi', tM D~al~r sl~oll hov~ ebsolut~lr no oblipotien to npurehas• ~ae~Pt ~or br~oeh of
worrany. ' "
A. R~cours~ ~ ~orrontp E:c~Ptions:
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~ B. Liwit~d R~cours~ ~ _ - ~
~ FILE9 ~?ND ~EC D
~ F~.se ~~.ro~I~.S~Ts LUCIE COUN~_
~ FE~COP,[? V- at
c. wltlqW RKOYff~ O / S~T I~` nIL~ HOM.~, INC .
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RBG R pO~tRAS resident
CLERK CIRCUIT COURT
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