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HomeMy WebLinkAbout0066 } Notwithstanding any said repossession; or any other action which seller may take buyer shall be and remain liable for full performance of all obligations on the part of buyer to be performed under this contract. All such remedies are cumulative, any may be exercised concurrently or separately. Waiver of any default shall not waive any otheF default. 15. Bankruptcy: Neither this contract nor any interest therein Is assignable or transferable by operation of law. If any proceeding under the Bankruptcy Act as amended, is commenced by or against the buyer, or if the buyer is adjudged insolvent. or If the buyer makes any assignment for the benefit of his credi- tors, or if a writ of attachment or execution is levied on any Item or items of the equipment and is not released or satisfied within ten (10) days thereafter, or if a receiver is appointed in any proceeding or action to which the buyer Is a party with authority to take possession or control of any item or items o1 the equipment, seller shall have and may exercise any one or more of the remedies set forth in paragraph 14 hereof; and this contract shall, at the option of seller, without notice, immediately ter- • urinate 2Md shall not be treated as an asset of buyer after the exercise of said option. Buyer waives all right under all exemption laws. 16. Seller's Expenses: Buyer shall pay seller all costs and expenses, including attorney's fees incurred by seller in exercising any of its rights or remedies hereunder or enforcing any of the terms, conditions or ' provisions hereof. 17. Assignment: Without the prior written consent of seller, buyer shall not (a) assign, transfer, pledge or ' hypothecate this contract, the equipment or any part thereof, or any interest therein or (b) sublet or tend the equipment or any part thereof qr permit the equipment or any part thereof to be used by any- one other than buyer or buyer's employees. Consent to any of the foregoing prohibited acts applies only in the given instance; and !s not a consent to any subsequent like act by buyer or any other person. Subject always to be the foregoing, this contract inures to the benefit of, and is binding upon, the heirs, legatees, personal representatives, successors and assigns of the parties hereto. Should seller on receipt of written request from buyer agree to transfer or assign contract to third party, buyer agrees to pay seller its expenses in handling such transfer or assignment. This amount not to be less than twenty dollars (520.00). 18. Seller's Assignment: It is understood that seller contemplate assigning this Contract andlor mortgag- ing of the equipment and that assignee may assign the same. All rights of seller in the equipment ~ and hereunder may be assigned, pledged, mortgaged, transferred, or otherwise disposed of, either in whole or in part, without notice to buyer. The assignee's rights shall be free from alt de- fenses, set-offs or counter claims which buyer may be entitled to assert against Geller. No such assignee shall be obligated to perform any duty, covenant or condition required to be performed by , seller under the terms of this contract. 19. Ownership: The equipment Is, and shall at all times be and remain, the sole and exclusive personal property of seller; and the buyer shall have no right, title or interest therein or thereto except as ex- pressly set forth in this contract. It is further expressly agreed by buyer that the said equipment shall at all times be removable as the personal property of the seller and under no circumstances shall the same be considered or treated as part of the realty or real property upon which it Is or may hereafter be situated. 20. Interest: Should Buyer fail to pay any part of the payments herein reserved or any other sum required by buyer to be paid to seller, within ten (10) days after the due date thereof, buyer shall pay unto the seller interest and collection expenses on such delinquent payment from the expiration of said ten (10) days until paid at the rate not to exceed 10% of contract payments as delinquent charges. 21. Notices: Service of all notices under this agreement shall be sufficient if mailed to the party involved at its respective address hereinafter set forth mailed to such address shall be effective when deposited in the United States mail, duly addressed and with postage prepaid. • F ~ 23. Gender: Number: Whenever the context of this contract requires, the masculine gender includes the feminine or neuter, and the singular number includes the plural; and whenever the word "seller" is ~ used herein it shall include all assignees of seller. If there is more than one buyer named in this con- tract the liability of each shall be joint and several. 2a. Time Is of the Essence: Time is expressly declared to be of the essence of this contract and of each clause hereof and that the waiver by the seljer of strict compliance with the terms hereof shall not be treated or considered aG a waiver of any further or future performance due thereafter pursuant to the terms of this contract. 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