Condition of Sale
A monthly charge of 1 ½% (18% per year) will be applied to all invoices over 30 days old. The purchaser agrees to pay all costs of collection including a reasonable attorney’s fee in the event invoices are placed with an attorney for collection whether a suit is brought or not. Purchaser shall pay seller a bank fee for all checks returned by the purchaser’s bank regardless of reason. Purchaser herein consents to the entry of Confession of Judgment on failure to make payment within reasonable terms as defined by Imperial Dade. To secure the full and timely payment by Purchaser to Seller of all existing and hereafter arising amounts due seller , Purchaser hereby grants to Seller a priority (purchase money) security interest and lien in and to all goods, inventory, equipment and fixtures sold to Purchaser by Seller from time to time and separate security interest in all other assets of Purchaser including, without limitation; (a) all of Purchaser’s assets now existing or owned hereafter arising or acquired accounts; (b) goods for sale, lease or other disposition which have given rise to accounts and have been returned to or repossessed ionr stopped transit by applicant; and (c) goods including, without limitation, inventory, equipment, fixtures, and vehicles. Purchaser hereby authorizes Seller to file and perfect any and all statutory lien rights and any rights under indemnity or performance bonds at any time regardless of whether payment is due to seller under seller’s payment terms with application. Purchaser hereby authorizes Seller to prepare and file any Uniform Commercial code (“UCC”) financing statements, amendments to UCC financing statements and any other filings or recordings in all jurisdictions where seller determines appropriate without Purchaser’s signature, and authorizes Seller to describe the collateral in such financing statements in any manner as seller determines appropriate. The undersigned request Imperial Dade and any of its subsidiaries (herein “Imperial”) to sell and service the customer as stated in the application on page 1 and further certify that the statements made on the this application are true, correct and complete in all material respects; and the customer authorizes Imperial to investigate all references furnished pertaining to credit, including obtaining credit reports from outside agencies.
We understand these terms and Agree to abide by them.