HomeMy WebLinkAbout3000 Purchaser ackno~•~ledges receipt of notice that all
payments due under this contract have been assigned by Seller to
Scotia Factors Limited (herein referred to as 'Holder') of
Suite 2D12, 19 King Street West, Toronto, Ontario, Canada and that
until further notice from bolder the Unpaid Balance together with
interest thereon, is payable only to Holder at its address or such
other address of evhich Holder may give written notice. Concurrently
with the execution hereof, Purchaser Has executed a note in favor
of Seller evidencing the payment to Seller in the amount of the
Unpaid Balance. All references Hereinafter contained to the 'dote'
shall mean said Note. And all payments contained to be made to
bolder or Seller shall be in accordance with the Note.
LOCATION OF EQUIPMENT: The Equipment is or will be located on the
premises located or to be erected at: (hereinafter referred to as
the 'Premises')
Street and NO. 9400 A1A Nutchi san Is2~nd
City or Township
State Florida -
The Equipment shall not be removed from the premises without the prior
written consent of Seller. -
Purchaser acknociledges having received a duplicate
original of this contract.
THe Parties hereto acknocaledge that the following terms
and conditions are an integral part of this contract and the Parties
agree as follows:
TERMS AND COi1DITIONS
1: DEFINITION OF EQUIPi~iEtii, SELlsER, 'r_Oi,DER:
THe term 'Equipment' wherever used in this contract shall ir~ean the
goods described in every schedule attachedHereto and any attachments,
parts, accessories and repairs placed on or attached thereto by
Purchaser. 'Seller' shall include Aluma Systems Incorporated and
Scotia Factors Limited, as their interest shall appear and 'Holder'
shall mean Scotia Factors Limited except that after notice to Purchaser
by Scotia Factors Limited of the termination of Scotia Factors Limited's
interest, 'Holder' shall include 'Seller'.
2: TITLE TO REMAIN WITH SELLER:
` The title to and ownership of the Equipment shall Hat pass to Purchaser
but shall remain with_Seller until the entire Unpaid Balance of the
purchase price, interest, costs and expenses (including without limita-
tion payments of any judgments obtained and all legal costs to obtain
the release from seizure of the said Equipment) are fully paid in cash.
3: CONTINUING OBLIGATION OF PURCHASER:
No transfer, renewal, extension or assignment of this contract or any
interest hereunder, or the dote, or loss, damage, injury or destruction
of the Equipment shall release purchaser from his obligation hereunder.
4: INSURAiJCE: •
a
= Until all sums due hereunder have been paid, Purchaser shall maintain
insurance containing a cross liability endorsement in force in form
r~ and with insurers satisfactory to Seller, property damage against all
risks of physical loss or damage however caused in the amount of the
Total Cash Purchase Price, and general public liability insurance
in such amount as the Seller may from time to time reasonably determine, .
against damage to property and liability to third persons arising fror.~
its possession, use or operation of Equipment, and Purchaser shall,
moreover, indemnify and save harmless Seller against and from all
liability resulting directly or indirectly from such possession, use,
or operation, and shall name Seller as the additional-insured on such
policy or policies. Purchaser shall furnish certifi`~ate of insurance
evidencing that such coverages are in effect, forthwith upon execution
of this contract. In addition to the aforesaid, Purchaser's failure
to, or ceasing to insure shall constitute a ~ t o ~5~7ault. In the
d~?K PaGE~~O I i