Lease To Own Agreement (Page 2 of 3) in pdf

or to become accessions to other goods unless on the front page of this agreement it is indicated that the goods are

to be attached to real estate in which case buyer agrees to furnish seller with a disclaimer or disclaimers, in form

satisfactory to seller, signed by all persons having an interest in the real estate, of any interest in the goods which is

prior to seller's interest.

9. Cancellation: Buyer may cancel this lease-to-own Agreement at any time, by returning the Equipment to Seller, in

good condition, and Buyer shall, following Seller's receipt and acceptance of the Equipment, have no further

obligation hereunder.

10. Events of default. The occurrence of any of the following shall constitute a default under this agreement:

(a) failure of buyer to perform any obligation or agreement specified in this agreement, or if any warranty or

representation made under this agreement by buyer should prove to be materially incorrect;

(b) the death of buyer, any cosigner or guarantor on any obligation secured by this agreement, or the dissolution,

merger, consolidation or reorganization of any corporate buyer or corporate obligor on such obligation;

obligor on any secured obligation or the institution by any party of action for attachment or similar process;

(d) the issuance of execution process against any property of buyer or any such co obligor, or the entry of any

judgment against buyer or any such co obligor, or any assignment for benefit of creditors or similar action

adversely involving any such party;

(e) any condemnation, levy, forfeiture or similar action against the goods or any part of them;

(f) when seller shall in good faith and upon reasonable grounds believe that the prospect of performance of any

obligation of buyer under this agreement, or of performance or payment of any obligation secured by this

agreement, by buyer or any other obligor on them, is materially diminished;

(g) the default by buyer under any other contract obligations, or installment sale security agreement between the

parties to this security agreement.

11. Remedies on default. In the event of a default, or if seller or seller's assignee shall consider the payment of the

balance of the installment payments insecure, seller shall have the right to:

(a) obtain judgment for the amount of the installments and late fees delinquent under the contract plus interest at

ten percent (10 %) on such delinquent payments from due date

plus attorney's fees without prejudicing seller's

right to subsequently obtain judgment for additional, or the balance of, the installments or to exercise other

rights contained in this agreement or at its option, declare all unpaid installments, late fees and other moneys

due or to become due under this contract immediately due and payable and to obtain judgment for the total

amount of unpaid installments due plus interest of ten percent (10%) on delinquent payments and late fees

from due date and reasonable attorney's fees;

(b) enter any premises and without breach of the peace take possession of the goods; and

(d) report the Equipment to police or other government authorities as having been stolen.

Seller may require buyer to assemble the goods and make them available to seller at a place to be designated by seller which

is reasonably convenient to seller and buyer. Seller shall have the right to take immediate possession of the goods wherever

found, with or without legal process, and to sell or otherwise dispose of the goods. Unless the goods are perishable or

threaten to decline speedily in value or are of a type customarily sold on a recognized market, seller shall give buyer

reasonable notice of the time and place of any public sale of the goods or the time after which any private sale or other

intended disposition is to be made. The requirements of reasonable notice shall be met if such notice is mailed, postage

prepaid, to the address of the buyer shown at the beginning of this contract or such other address of buyer as may from time

to time be shown on seller's records, at least five days prior to such action. Buyer shall pay any deficiency that may remain

after exercise of such rights plus expenses of retaking, holding, preparing for sale, selling or the like, including seller's

reasonable attorney's fees. All of seller's rights under this agreement are cumulative and no waiver of any default shall affect

any later default.

12. Miscellaneous terms and provisions.

(a) Loss or damage to the goods shall not release buyer from its obligations hereunder.

Lease To Own Agreement Page 2

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