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Luihr�r. a r.:� Vraaaaaa,v.venna.A: uua unmatiaeau uuiy tie e,uvigeau, uvuiyu .ng,ee m..uuug. The following notice brings to my attention the rights that I have even when this contract is sold to a ft inst. I should notice that the impor- tance of this provision is stressed by its appearance in ten point, bold face aype: . NOTICE This credit contract finances; a purchase. All legal rights which the Buyer has against the Salter arlslnngg out of this transaction, Including all claims and defenses, are also valid against any holder of this contrm. The right to recover money from the holder under this provision Is limited to the amount paid by the buyer under this A claim is a legally valid reason for suing the Seller. A defense Is a legally valid reason for not paying the Seller. A holder is anyone trying to collect for the purchase. INSURANCE CANCELLATION: If I have requested insurance in this purchase, I may cancel such request for insurance for any reason within fifteen (15) days from the date of this contract by rag you or the holder of this contract in writing I know that the cancellation of my coverage will be arranged with the insurance carrier(s) and a full refund of my pre mtu s) together with applicable finance charge will be credited to this contract. PLEASE NOTE: If I have requested insurance in this purchase, I will receive within thirty (30) days a certificate of insurance more frilly describing the insurance coverage. I know that if there is any conflict in the coverage or the language of the certificate of insurance and the following Notice of Proposed Insurance that I am covered only to the extent stated in the following Notice of Proposed Insurance. I also know that I have insurance coverage only if I have been charged for it. NOTICE OF PROPOSED INSURANCE I take notice that either Credit Life or Ct dit Accident and Health Insurance, or both. will be applicable to this Sales Contract on the reverse side only if 1 have chosen it by signing the request for such insurance. This insurance will only cover the person signing the request at the cost for each type of insurance shown. Subject to acceIrlance by the insurance company, the insurance will be effective as of today and will continue only for the number of months after the effective date equal to the amEW of monthly payments. I understand that this particular insurance may not provide coverage for my last few Payments, and that during that period of time I will not have any insurance coverage. All benefits and proceeds of the insurance will be aid to you or to a financial institution or a bank if it purchases the Sales Contract to the extent of its interests and any balance will be payable to me. The initial amount of Credit Life insurance is the amount required tore ay the Total of Payments; thereafter. the insurance decreases by the amount of each monthly payment on a scheduled 30 day basis. If 1 am jointly obligated on the Sales Contract with a Co-Buyer, and we have both sigh the request for Credit Life Insurance, death benefits will be payable only with respect to the first one of us to die. Subject to exclusions, eliminations or waiting period stated in the insurance policy or certificate, Credit Accident and Health Insurance is for the benefit amount of 1 /30th of each month's payment for each day that I am totally disabled due to an injury or sickness while I owe any payment to you; however, I understand that 1 have to b.- prevented from working due to such total disability for more than four- teen (14) consecutive days before the insurance benefit is paid back to the first day of my total disability. I &be know that I cannot obtain any insuriam from YOU if t am over ASS years of age today, and 1 also know that the insurance coverage provided to me may contain a maximum amount of coverage which will not paY in t the entire amount that 1 owe you. Due to the maximum amount of coverage stated in the insurance policy, I know that any unpaid amount in excess of the insurance coverage will still have to be paid. If the Sales Contract is prepaid in full prior to the last payment date, any unearned insurance premiums will be refunded to me in the mima- rer prescribed by law. Within thirty (30) days, I will receive the certificate of insurance more fully describing my insurance coverage. If the insurance is ra by the insurance company, I will receive a refund of the insurance prerniums I have paid. BUYER: The next two paragraphs contain warranties relative to this sale given by us to the financial institution or bank in order for it to buy this contract. SELLER'S WARRANTIES AND ASSIGNMENT OF INSTALLMENT SAL S, CONTR. A T AND MORTGAGE FOR VALUE RECEIVED, Seiler hereby sells, assigns, conveys, transfers and delivers to (Assigrice) all of its rights, title and interest in and to the Installment Sales Contract and Mortgage, together with all liens existing to secure its I t. and the property eaacumitered heneb�. Assignee is hereby substituted as Mortgagee under the Mortgage provisions of this contracr. Seller warrants and repre sents; (1 It hias the right to make this assignment; ( ) All statements and figures in this contract and in the Buyer's statement are material) true and correct; (3) This contract arose from the bona fide sale of the goods and services described herein; (4) The cash downpayment shown in this contract was actually paid by Buyer and no pan of said downpayrmat was loam di- rectly or indirectly by Seller to Buyer; (5) Each Buyer is legally competent to contract; (fi) This contract is not and will not be subject to any claim. defense, demand orright of offset; (7) The execution of this contract and the underlying sates transaction giving rise thereto did not violate any federal or state law, directive, rate or regulation now in effect; (g) In the event that this contract or the underlying sales transaction is subject to a right of rescission or cancellation by the Buyer, such rescission or cancella- tion period has expired and neither the sale nor this contract has been cancelled orrescinded. THIS CONTRACT IS SOLD BY SELLER WITHOUT RECOURSE. i IN TESTIMONY WHEREOF, the undersigned is a authou7# rep five of the Seller and has signed below on behalf of the Seller on this }i day o€ / '� -} .19_. The foregoing instrument was acknowledged before me on PACESEMR PRODUCTS, INC. ( 19 _,� By by the authorized agent of Seller who is My commission expires: sat ear- atslsatNaMas4 JESSIE C'• - �anin. P Dec. 12, 1987 �N rubu, c d Li 3