BOULEVARD HOME REVOLVING CHARGE SECURITY AGREEMENT
I would like to apply for a revolving charge account with Boulevard Home. In connection with this application I agree and state as follows:
1. All of the information I have provided on this Agreement is true and accurate. I authorize Boulevard Home to make whatever inquiries are deemed necessary to determine the accuracy of the information. By my signature (including any digital or electronic signature) on the attached credit application, I agree to abide by all the terms and conditions of this security agreement.
2. By my signature I acknowledge that I have received a copy of the Federal Truth-In-Lending Disclosure Statement (on reverse side of this form) for the Boulevard Home Furnishings Revolving Charge Accounts ("Disclosure Statement"), and agree to pay all amounts I owe you according to the terms of the Disclosure Statement and this agreement. If for any reason the terms of this agreement change, I will provide you with such notice as is required by applicable law.
3. I will timely pay all amounts billed to me under the terms of the Disclosure Statement and any billing you send to me for credit extended under this Agreement, including all finance charges and other costs. Any purchase I make on credit as evidenced by sales slip, memorandum, invoice or similar document will be deemed to have been made under the terms and conditions of this Agreement.
4. You may require me to pay off my entire credit balance, plus accrued finance charges, all at once if I fail to make any payment on time, or if I breach any term of this agreement.
5. I agree that my liability for any purchases made under this agreement is joint and several, meaning that I am responsible for the entire balance of the account, whether incurred by myself, by any other applicant hereunder, or by any authorized user.
6. Application of payments and credits: To the extent that my monthly payment exceeds the total minimum payment, you will allocate the excess amount first to my regular revolving charge line, unless specified. Otherwise, you will allocate payments to the balance with the highest interest rate, in accordance with applicable law.
7. Transfers to regular revolving charge line: The unpaid balance of a special term will be transferred to my regular revolving charge line at the end of the special promotional period but before the minimum payment is calculated. You may, in accordance with applicable law, transfer the unpaid balance of a special term promotion to my regular revolving charge line if at any time I fail to pay the total minimum payment for my account within 60 days after the payment due date. Failure of payment will suspend all special promotional terms and the unpaid balances will be subject to all the terms of my regular revolving charge account.
8. Security Interest: To the extent permitted by applicable law, I hereby grant to The Boulevard a purchase money security interest under the Uniform Commercial Code in the merchandise purchased on my account until such merchandise is paid for in full. I agree to assist in executing any documents necessary to perfect your security interest. If I do not make the total Minimum Payment on my account by the payment due date, you may repossess any merchandise that has not been paid for in full. If the amount received on sale of the goods, including costs of repossession, storage, sale and other costs, is insufficient to pay all amounts I owe you, I agree to pay you the amount of any such deficiency.
9. I agree that, until the entire purchase price together with applicable charges shall have been fully paid for goods purchased under this Agreement, I will not remove the goods from my address set forth on the application, or sell the goods to a third party, without your prior written consent.
10. The decision to offer credit to me is entirely yours, and you may revoke any credit granted to me or decline to grant further credit to me for any reasons whatsoever, and at any time, to the extent not prohibited by law.
11. Definition of an Authorized User: Unlike a joint account holder, an authorized user doesn't have to go through a credit check to be added to the account. An authorized user has permission to purchase on the accont buyt is not responsible for repaying the account balance.
12. In the event you are required to institute any legal action or to take other means to collect amounts I owe you, I agree to pay all of your costs of collection, including a reasonable attorney's fee. If I make payment on any purchase or billing by check, and the check is returned to you unpaid for any reason, I agree to pay you a minimum fee of $20.00 for each such check, or for each time a check is resubmitted for payment, together with your attorney’s fees and costs in collecting payment on the check. I agree that in the event you institute legal proceedings against me, such suit may be brought in Washington County and that Utah law will govern the interpretation or enforcement of this agreement. I hereby waive all objections to such jurisdiction and agree to submit thereto. Any judgment you obtain against me shall continue to bear interest at the annual percentage rate applicable to my account balance at the date of judgment.
13. No party shall be liable or responsible to the other party, nor be deemed to have defaulted under or breached any Agreement, for any failure or delay in fulfilling or performing any term of any Agreement (except for any obligations to make payments to the other party hereunder), when and to the extent such failure or delay is caused by or results from acts beyond the impacted party’s control, including delays caused by Covid 19. The impacted Party shall give notice of the Force Majeure Event to the other party, stating the period of time the occurrence is expected to continue. The Impacted Party shall use diligent efforts to end the failure or delay and ensure the effects of such Force Majeure Event are minimized. The Impacted Party shall resume the performance of its obligations as soon as reasonably practicable after the removal of the cause for delay.