CONDITIONAL SALES CONTRACT
For good and valuable consideration, this conditional
sales contract is entered into between Karl’s Custom
Servers, INC. located at 1411 3rd Street Suite B
Port Huron, MI 48060 (Seller) and Charlie Sheener
DBA Stoners R Cool at 260 Broadway, Denver, CO
80203 (Buyer). Seller agrees to sell and the Buyer agrees
to buy the following goods on a conditional sale: One
Model ABK-29C server, Serial Number 246810.
Sale price: $25,000.00
Sales tax: 6%
Other Charges: $0
Finance Charges: $0
Total purchase price: $26,500.00
Deductions
Down payment: $2,000.00
Other credits: $0
Total deductions: $2000.00
Amount financed: $24,500.00
Finance Charges: $4,262.18
Total of Payments: $28, 762.18
ANNUAL INTEREST RATE: 6.5%
Shipping term FOB Seller’s Plant.
The amount financed is payable in 60 monthly
payments of $479.38 each, starting on the 15th of the
month of April, 2018, and continuing on the same day
each succeeding month until paid in full. A grace period
will be allowed until the end of the month. Contract will
default if not paid by end of month.
The buyer can only assign his duties and obligations
under the contract with prior written approval from the
Seller.
This Agreement represent the agreement of the Buyer
and the Seller with respect to the subject matter hereof,
and there are no promises, undertakings,
representations or warranties by the Buyer or Seller
relative to subject matter hereof not expressly set forth
or referred to herein or in the other Credit Documents.
The title to the goods remain with the Seller until
payment of the full purchase price, subject to allocation
of payments and release of security interest as required
by law. The Buyer agrees to keep the goods free from
other liens and encumbrances and not to remove the
goods from the above address without the written
consent of the Seller.
Buyer agrees to execute all financing statements as may
be required of Seller to perfect this conditional sales
contract.
The entire balance shall become immediately due upon
default on any installment due or other breach of this
agreement.
In the event of a default, Seller may enter upon the
premises of the Buyer and reclaim said goods. If the
Seller retakes the goods he/she has the right to resell
them for credit to the balance purchased, and Seller
may reacquire same all as further defined and set forth
under state law.
The Buyer shall keep the goods adequately insured with
the Seller named as the loss payee. The Buyer shall
provide Seller with proof of insurance prior to delivery.
In the event of default, Buyer shall be responsible to pay
attorney fees, collection costs, and other fees associated
with enforcement of this agreement. This agreement is
binding upon and inure to the benefit of the parties,
