HomeMy WebLinkAbout0936NOtwithstanding any aaid repossession, or.any other actlon whicA seller may take buyer ahall be and
remain liabte for full performance of all obUgations on lhe part of buyer to be performed under this
contract.
All such r~medies are cwnulaHve, any may be exercised concurrently or separately. Waiver ot any
defauN shall not waive any olher default.
15_ Bankrupfcy: Neither ihis cont~act nor any interest therein i~ assipnable or transferable by operation of
law_ It any proceeding under the Bankruplcy Act as amended, is commented by or against the buyer,
or if the buye~ is adjudged insolvent, or if tAe buyer makes any assig~ment for lhe benefit of his tredi-
tors, or ii a writ of attachmenf or execution is levied on any item a items ot lhe equipment and is not
released or satistied within ten (10) days ihereatter, or if a receiver is appointed in any prceeeding or
aclion to which the buyer is a party with authwity to take possession Or control of any item or items ol
the equipment, setler shall have and may exercise any one a mae oi the remedies set forth in
paragraph 1~ he~eof: and this contract shalt, at the option ol seller, without notice, immediate~y ter-
minate and shall not be trealed as an asset ot buyer after the exercise ol said option. Buyer waives afl
right under all exemption laws.
16. Sallsr's Ezpsnses: 8uyer shall pay seller alt costs and expe~ses, including,attorney's fees incurred by
seller in exercising any ot its rigAts or remed~es hereunder or en(orcing any oi the terms, tonditions or
provisions hereof.
17. Asstynmsnt: Without the prior written consent ot seller, buyer sAalt not (a) assign, transter, pledge or
hypothecate this contract, the equipment or any part lhereof, a any interest therein or (b) sublet or
lend the equipment or any part thereof or perr,~it the equipment or any part thereof to be used by any-
one other than buyer or buyer's employees. Consenl to any ot the to~egoing prohibited acts applies
only in the given ~nstance; and ?s not a tonsent to any subsequent like att by buyer or any other
person. Sub~ect always to be tAe foregoing, this contract inures to the Genefit of, and is bi~ding upon,
the heirs, legatees, personal representatives, successors and assigns ot the parties hereto. Should seller
on receipt ot wntten request (rom buyer agree to transfer or assign coniract to ihird pa~ty, buyer
agrees to pay seller its expenses ~n hardling such transfer or assignment. This amount not to be less
than twenty dollars (t20.00-.
t8. Seller'• Astlpnmsnt: It ~s understood that seller contemplate assigning this Contract andlor mortgag-
ing ot the equipment and that assignee may assign the same_ AI! rights. of seller in the eqwpment
and hereun~er may be assigned, pledged, mortgaged, translerred, or otherwise disposed af,
eitiier in whole or in part, without notice to buyer. The assignee's riyhts shall be free from all de-
fenses, set-otls or counter claims which buyer may be entitled to assert againat seller. No such
ass~gnee shall be obligated to per(orm any duty, covenant or condition required to be performed by
seller under the terms of this coMract.
t9. Ownsrshlp: The equipment is, and shall at all times be ana remain, the sole and exclus~ve personal
property of seller: and the buyer shall have no right, title or i~terest therein or thereto except as ex-
pressly set forth in this contract. It is turther expressly agreed by buyer thaf the said equipment shall
at ail times be removable as the personal property of the setler and'under no circumstances shail the
same be considered or ireated as part of the realty or real property upon which it is or may hereefter
be situatcd.
20. Interssl: 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
setler interest and collect~on expenses on such delinquent payment trom the expiration ot said ten (10)
days until paid at the rate not to ezceed t0~o of contract payments as delinquent charges.
21. Notkss: Service ot alt notices under this agreement shall be sutlicient it maited to the party involved a1
its respect:ve address hereinafter set fortA mailed to such address shall be etfective when deposited in
the Umted States mail, duly addressed and with postage prepaid.
22. Gender: Numbsr: Whenever the context of this contract requires, the masculine gende- includes the
faminlne or neuter, and Ihe smgular number includes the plural; and whenever tAe word "seller" 1s
used ~erein it shall include atl assignees of seller. II ihere is more than one buyer named in this con-
tract tAe liabillty of each shall be joint and several.
23 Tlms Is of the £stencs: Time is expressly declared to be o( the essence ol this contract and of each
clause hereo( and that Ihe waiver by the seller oi strict compliance with the terms hereOf shall not be
treated or considered as a waiver of any further or future pErformance due thereaffer pursuant fo the
terms of this tontract.
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