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r 1 The following notice bongs to my attention the rights that 1 have even wlicl Ohls cirmract is sold (4) a financial institution or a bank, and l should notice that the impor- tance of this provision is stressed by its appearance in ten point, hold face tvN NICE 85-008751 This credit contract finances a purchase. All legal rights which the Baugyaer has against the Seiler arising out right this transaction, money f� a�claims �� and under thiis provision Is limited to the amount paid of this by the contract. buyer The right to recover money under this contract. A claim is a legally valid reason for suing the Seiler. 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 notifying you or the holder of this contract in writing. 1 know that the cancellation of my coverage will be arranged with the insurance cairierls) and a full refund of my premium(s) together with applicable finance charge will be credited to this contract. !LEASE NOTE: if i have requested insurance in this purchase, I will receive within thirty (30) days a certificate of insurance more fully describing the insurance coverge. 1 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 dteexkm stated in the following Notice of Proposed insurance. I also know that i have insurance coverage only if] have been charged for it. NOTICE OF PROPOSED INSURANCE i take notice that either Credit Life or Credit 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 acceptance by the usatnnee company, the insurance will he effective as of today and will continue only for the number of months after the effective date equal to the number of monthly payments. I understand that this particular insurance may not provide coverage for my last few payments, and that during that period of urge I will trot have any insurance coverage. All benefits and proceeds of the insurance will be paid to you or to a financial institution or a bank if it purchases the Sales Contract to the extent a its interests and any balan:e w'i!1 be payable to nte. The initial amount of Credit Lde Insumnce is the amount required to repay the Total of Payments; llMteafte[, 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, eliminations end we have both signed 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 a waiting period stated in am insurance policy or certificate, Credit Accident and Health Insurance is for the benefit amount of t /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, 1 understand that I have to be pprevented 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 also it.. that 1 cannot obtain any insurance from You N 1 am over 65 years of age today, and I also know that the insurance coverage provided to me may contain a maximum amount of coverage which will not pay in some eaKS, the cadre 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 pritx to the last payment date, any unearned insurance premiums will be refunded to me in the man- coverage by law. Within thirty (30) days. I will receive the certdicate of insurance more fully describing my insurance coverage. If the insurance is not accepted by the insurance company, I will receive a refund of the insurance premiums 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 INSTALLME11NT.SALE CONTRACT ND MORT CAF FOR VALUE RECEIVED, Seller hereby sells, assigns, conveys. transfers and delivers to _L� �property _ (Assignee) all of its rights, title and interest in and to the Installment Sales Contract and Mortgage, together with all liens existing to secure its payme and ncumbere d here byy. Assignee is hereby substituted as Rfongagee under the Mortgage pmcisioes of this contract. Seller warrants and represents; se It the e this assignment; (2) All statements and figures in this contract and in the Buyer's statement an materially we and correct: 131 This contras[ anise fmm the bona fide sale of the goods and services described herein; (4) The cash downpayment shown in this contract was actually paid by Royer and no pan of said downpaytnent was loaned di- tecdyy or indirectly by Seller to Buyer; (5) Each Buyer is legally competent [[r contract: t )This contract is not and will not be subject no any claim, defense, demand or right of offset; (7) The execution of this contract and the underlying sales transaction giving rise thereto did not violate any federal or state law, directive, rule or regulation now in effect; (8) in the event that this convect or the underlying sales transaction is subject to a right of rescission or cancellation by the Buyer, such rescission or cartcella- in ff _rio( as expired and neither the sale nor this contract has cancelled or rescin ed. THIS CONTRACT IS SOLD BY SELLER WITHOUT RECOURSE. IN TESTIMONY WHEREOF, the undersigned is an o i presyit�hve of the Scller and has signed below on behalf of the Seller on this - day of -- - .' 4— —� J / The foregoing instrument was acknowledged a me on _ PACES PRODUCTS, INC. ) - -- 7 13.t Lin by the authorized agent of Seller who is - -- -`= r'vZ; My commission expires: IIENERAL IOTA ' lnrdNebnrb -- P. . 12, 1987 �i s�