To induce HEIN ELECTRIC SUPPLY COMPANY to extend credit for purchases under credit sales, I/We agree to pay under the terms stated on each invoice. I/We agree to pay service charges at a rate of 1-1/2% per month (18% APR) for any invoice more than 30 days past due. HEIN ELECTRIC SUPPLY COMPANY reserves the right to place accounts on hold if aging balance is 30 or more days old. Guarantor (s) further agrees to pay all expenses, including expenses of court costs, interest and attorney’s fees paid or incurred by
This Guaranty shall be enforceable before or after proceeding against Applicant(s) or simultaneously therewith, and without resort to any security. The incorporation, merger, or sale of Applicant(s), business shall not terminate this Guaranty, and the Guaranty shall continue as to any credit extended such other entity.
This Guaranty shall continue in force until notice in writing of termination sent by registered or certified mail, return receipt requested, is received by HEIN ELECTRIC SUPPLY COMPANY. This notice is to specify the date on which the Guaranty is to be terminated.