I/we warrant the information shown in the application to be true and authorize Hank's Specialties. I/we authorize Seller from time to time to obtain Business and Consumer Credit Reports on Customer or any principals listed above or to obtain credit and funding information for any other source.
I/we agree to notify in writing of any change in the capacity in which I/we do business, i.e., individual, partnership, corporation, LLC or LLP. Until such notice is given, Hank's Specialties may presume that I/we still do business in the capacity that I/we set forth in this application and all contracts entered into prior to any receipt of change, shall be binding upon me/us in such capacity. Further, I/we understand and agree that I/we shall have the burden of proving if and when such notice received.
I/we also agree to pay a service charge of 18% per year (equaling 1 1/2% per month) on the accrued, unpaid balance of any bill which is not paid in full within thirty (30) days. The service charge will be applied to the outstanding balance at the end of each monthly billing cycle. There is a minimum service of $2.00 per month if any bill has not been paid in full within thirty (days Hank's Specialties may modify the percentage of interest charged from time to time up to the highest amount allowed by law, and I/we agree to pay assessed interest as modified up to the highest legal amount.
If my/our account must be placed with an attorney for collection, whether a lawsuit is filed or otherwise, or if the services of an attorney are required to protect our interest, I/we do agree to pay all collection costs, including reasonable attorney's fees. "Reasonable attorney's fees" include, but are not limited to, 33 1/3% of the outstanding balance of principal and accrued interest.
Customer expressly agrees to submit to personal jurisdiction in Minnesota and agrees that the forum for any litigation pursuant to this Agreement or any other contract between Seller and Customer, whether Seller or Customer brings suit, shall be the County of Ramsey, Minnesota. This Agreement shall be governed by and construed in accordance with the laws of Minnesota.