HomeMy WebLinkAbout0976 AOOITIONAL AOREEJNENTi ANO -PROVIiIONi
Ownership and use of collateral. 1 own and have ~possesswn of this Repossession. You can enter my premises and repossess the collateral
collateral. No one else has any claim against it. 1 promise not to giw up if the entire balance of the loan becomes due for any reason or if I
possession for more than 24 hours a do anything that will create a break any other promise 1've made under this agreement No advance
claim 1'11 take all reasonable steps to protect it from other creditors. notice will be required Or, ii you ask. I'll deliver the collateral to you at -
- a time and place you designate.
I promise to keep the collateral in good repdrr and won't use it for any
illegal purpose Once you have possession of the collateral, you can sell it and apply the
- amount you receive to the unpaid balance of my loan. Yoil will notify
Delay in enforcement. You can delay enforcing any of your rights me at least 7 days before the sate If the sale price doesn't cover the
cinder this agreement without losing them. For example, you can total amount 1 owe you. 1'11 pay the unpaid balance. This includes any
extend the time for making some payments without extending others. costs Of repossession. storage and sale, and reasonable attorney's fees.
Appointment of Bank..l appoint you as my attorney-in•fact to I understand that I must reclaim anything in or on the repossessed
negotiate and handle all matters with the carrier of any insurance collateral that isn't covered under this agreement within 30 days after
subject to your security interest, including but not limited to the repossession. Otherwise. you can et+andon these items or donate them
endorsement of checks and drafts. to charity. •
Interest Rate. 1 understand that in no event will you charge interest in
excess of the maximum lawful rate.
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