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DEFAULT - You will be in defaul' on this cunlract if any one or more
<br />of the folluwing occurs (except as prohibited by law):
<br />(a) YOU fall to make to payment on this contract in full when due;
<br />(U) 'tour prunp,:4t or poynwlit, pur(u,n,an4,;, u, IUJIIt.U(,UI, Vt UI1..laW JI
<br />is significantly impaired.
<br />If an event of default occurs as to any one of you, We may exercise our
<br />reredies against any or all of you.
<br />REMEDIES • If you are In default on this contract, wu havo all of the
<br />remedies providod by law and this contract. We may:
<br />(a) accelerate the due date of the contract, making all unpaid principal,
<br />accrued interest, and all other agreed charges Immediately due;
<br />(b) pay taxes, assessments, or other liens or r, take repairs to tho prop,
<br />arty if you have riot done so. We are nct required to do so, however,
<br />if we do, the -amount we pay wits be added to secured obligations,
<br />will be irnmediatel,t due, and will accrue interest at the rain in
<br />effect from time to time, until paid ua full;
<br />(c) require you to assertible the property and m aki) it available to Us
<br />at a place we designate that is reasonably convorrtent to you and
<br />us;
<br />(d) unmtidiately ro josseas.lrr�npurty by le al proctrss or self -holp, with-
<br />out the use of force. We may thou soli the property and apply the
<br />proceed, as provided by law to our expenses and then toward
<br />your secured obligations. Expenses include err cost of reposses-
<br />sion, cost of holding the property, attorneys fees (where pormit-
<br />ted), repairs (if necassary) and costs of sale; and
<br />(e) be entitled to a deficiency judgment against i'ou if the proceeds
<br />of the sale do not pay all of the expenses and secured obligations
<br />(except when prohibited by law).
<br />By choosing any one or more of these remedies, we do not waive
<br />our right to later use any other remedy. We do not waive a dtaf;ault if
<br />we clivose not to use any remedy and, by electing not to use any
<br />remedy, we do not waive our right to later consider the event a default
<br />and to nnrnediately use any remedies If it continues or occurs again.
<br />You agree that if any notice is required to be provided to you of the
<br />intended sale or disposition of the property, this notice will be considered
<br />reasonable if provided by mail addressed to you at the address listed on
<br />the front side of thi8 form, and mailed to you at least 1(} days before (he
<br />dale of the intended disposition tot such other period of time as Is required
<br />by law).
<br />EXCEPTIONS - Alto- you we in default on this conrn :ct for 10 rd.rys or
<br />more, we must provide you with a written notice of your default :and
<br />right to -'urF. You have 20 d ays sifter we cfehvrr the nnncr to you or
<br />vye mad the nonce to your last known residential audress ,n which to
<br />cure :t -v defaulr bye may exercise out remou,es only it you fart rr cure
<br />the default within the ti-,e .allowed after the twrice.
<br />However, nu notice of default or right to cute a nece:.::ary, anrd we
<br />m:,y rnrmechcately exercise 'my and alf of our remedies if vote have"
<br />previously defaulted one or more times urn this ccntruct, t,rtd have
<br />previously been given a notice of default and right to cure.
<br />OBLIGATIONS INDEPENDENT - Each buyer or guarantor who signs
<br />this contract agrees jointly and severally to pay according to its terms.
<br />This means that:
<br />(a) you must oay this contract even if someone else has signed it;
<br />(b) we may release any co- signer or guarantor and you will still be
<br />obligated to pay the contract;
<br />(c) we may release any security and you will still be obligated to pay
<br />the contract;
<br />(d) waiver by us of any of our rights will not affect your duty tc pay
<br />this contract; and
<br />(e) extending new credit or renewing this contract will not affect your
<br />duty to pay this contract.
<br />INSUFFICIENT FUNDS - If you make an installment payment by check,
<br />draft or simi,tit means which is dishonored because of insufficient funds,
<br />no account, or any other.reason (except an error of a third party to the
<br />contract) you will be charged a $15.00 fee.
<br />ASSIGNMENT BY SELLER
<br />Seller soils and assigmi to Assignee (whose nar-to is printod on the
<br />face of this contract) Its successors and assigns, all its ri fits, title and
<br />interest in this retail installment contract, and any guara,,,:ee executed
<br />In connection with this contract. Seiler gives assipnes full power, either
<br />ii ,I, uvwn n.eno o, ii, > „Ilu,'s name, If-, rnke al! leg9l r:r other w!tionq
<br />which Seller could have taken under this contract.
<br />Seller warrants:
<br />la) this contract represents a sale by seller to buyer on a time price
<br />basis and not on a cash basis;
<br />(b) thatall of the terms of Ill iscuntractare set forth on this document;
<br />(c) the ;,tatements contemed rn this contract are true and correct;
<br />(d) the down payment was made by the buyer in the manner stated
<br />on the face of .his contract and no part of the down payment was
<br />Ic ined or paid to the buyer by seller or seller's representatives;
<br />(e) the sale was completed in accordance with all laws and regulations
<br />affecting this sale, including, but not limited to, the Federal Truth -
<br />in. Lending Act, the Magnuson Moss Warranty - Federal Trade Com-
<br />mission Improvoinvilt Act, Federal Equal Credit Opportunity Act,
<br />the Federal frada Commiselon Act, and any regulations portalninq
<br />to these laws;
<br />(f) that all dIUCIObUres made In this contract under federal and state
<br />laws have been properly made under those laws;
<br />(g) the buyer was not a minor and tied the capacity to enter into this
<br />contract;
<br />(h) this contract is valid and enforceable in accordance with its terms;
<br />(i) the names and signatures on this contract art- not forged, fictitious or
<br />assurned, and are true and correct;
<br />(j) this contract.is not subject to any claims or defenses on the part
<br />of the buyer;
<br />(k) a completely fillod -i- copy of this contract was delivered to the
<br />buyer at the ties( ut ox—'ion: and
<br />(I) the property has been rialiv: red to the buyer in good condition
<br />and,or the service:, hc,ve.been p,:'rermed, and have been accepted
<br />by the buyer.
<br />If any of these warranties is breach9d or untrue, seller will, upon
<br />assignee's demand, purchase this contract from assignee. The purchase
<br />shall be in cash in the amount of the unpaid balance (including Interest)
<br />plus the cost and expenses of assignee, including attorneys fees.
<br />Seller will indemnify assignee for any loss sustained by it because
<br />of judicial set-off or as a result of a recovery made against assignee
<br />a': is result of a claim or defense buyer has against seller.
<br />Seller waives notice of the acceptance of this assignment, notice of
<br />non - payrnent or non- p.riormance a,.d notice of any other remedies
<br />available to ass,g -tee.
<br />Assignee may, without notice to seller, and without affecting the
<br />liabihry of seller under this assignment, compound or ralsase any rights
<br />against, and grant extensions of time for payment tc be made, to buyer
<br />and any other person obligated under this contract.
<br />1. WITHOUTRECOURSE - This assignment shall be without recourse,
<br />except as stated above.
<br />2. WITH RECOURSE - In addition to those items stated above, seller
<br />agrees that if buyer defaults in full payment, when due, of any amounts
<br />payable under this contract, or in the prompt performance of any
<br />obligation to be performed by buyer under this assignment, seller will,
<br />upon demand, repurchase this contract from assignee in cash in the
<br />amount of the unpaid balance (includirn interest) due at that time.
<br />3. SEPARATE AGREEMENT - This assignn•cnit is subject to a separate
<br />agreement with the assignee.
<br />NOTICE: ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS
<br />SUBJECTTO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD
<br />ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED
<br />PURSUANT HERETO OR WITH THE PROCEEDS HEREOF. RECOVEP.Y
<br />HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PA!11
<br />BY THE DEBTOR HEREUNDER.
<br />INSURANCE - You agree to purchase insurance on the secured property
<br />against such risks and in such amounts as we may reasonably require.
<br />In addition, you agree as follows:
<br />Form RS- VSI -GS -NE 7/11/89 2,00205061
<br />.i_r.
<br />Copy
<br />"lDv
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