COMMERCIAL INSTALLMENT CONTRACT
ACCOUNT NUMBER
Buyer (Print or Type) Co-Buyer
Name
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Street Address Street Address
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City & State
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Seller (Dealer) Contract Date
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Name & Address Quantity Make Model Number Serial Number AMOUNT
SEE ATTACHED INVOICE# 206493 DATED 03/20/96
(Attach schedule if additional space is required.)
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Rate of Charge: The Annual Percentage Rate stated ITEMIZATION OF AMOUNT FINANCED
in this Security Agreement. CASH PRICE __________ $______________________
The Buyer agrees to purchase the above CASH DOWN PAYMENT______ $ ____________________
described goods and services, hereafter called TRADE-IN _____________ $ _____________________
"property" for the Total Sale Price. (Describe)
Buyer promises to pay Seller the total of TOTAL DOWN PAYMENT_______ $__________________
payments in consecutive monthly payments according UNPAID BALANCE OF CASH PRICE (A $________________
to the payment schedule shown opposite. MINUS B)
A security interest in the property shall OTHER CHARGES:
remain in the Seller or his assignee under the TO PUBLIC OFFICIALS _________________________
Uniform Commercial Code until this Security TOTAL OTHER CHARGES _______ $__________________
Agreement is fully performed. Buyer hereby AMOUNT FINANCED (C+D) ______ $__________________
acknowledges delivery and possession of the
property. The property shall remain personal DISCLOSURE STATEMENT
property and shall not become real property no AMOUNT FINANCED (The amount of credit]
matter how affixed thereto provided to you or on your behalf) $_________
Buyer also promises to pay to the Seller or FINANCE CHARGE (The dollar amount the
other holder of this Security Agreement a credit will cost you) $__________________
delinquency and collection charge on each payment TOTAL OF PAYMENTS (The amount you
of this Security Agreement in default more than 10 will have paid after you have made all
days in an amount equal to 8% of each such payment payments as scheduled) $__________________
or $6.00, whichever is greater, if allowed by law, TOTAL SALE PRICE (The total cost of your
otherwise at the highest amount allowed by law. purchase on credit, including your
If the indebtedness is accelerated or prepaid down payment of $__________________)
in full, the Buyer will be allowed a rebate of the $__________________
unearned portion of the finance charge for the ANNUAL PERCENTAGE RATE (The
months prepaid computed by the "Rule of 78's." No cost of your credit as a yearly rate) _______%
refund of less than $1.00 will be made.
Subsequent purchases may, at the Seller's Your payment schedule will be:
option, be included in and consolidated with one
or more previous contracts. The Seller shall apply Number of Amount of When Payments Are Due
the entire amount made before the subsequent Payments Payments
purchases to the previous purchases, and shall --------- --------- ---------------------
allocate each payment on the consolidated contract Monthly
to all of the various purchases in the same ratio Starting
as the original cash sale prices of all the -------------------------------------------------
various purchases bear to the total of all.
The Buyer and Seller agree to the "Statement -------------------------------------------------
of Additional Covenants" set forth on the reverse Security: You are giving a security interest in
side hereof, which the undersigned each agree the goods or property being purchased.
shall constitute a part of this Security
Agreement. Late Charge: If a payment is more than 10 days
The property is not being acquired by Buyer late, you will be charged 5% of each payment in
for personal, family or household use, and will be default or $6.00, whichever is greater.
used primarily for
Prepayment: If you pay off early, you will be
( ) Agricultural ( ) Business or commercial purposes. entitled to a refund of part of the finance
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Delivery Receipt.
The goods were delivered to the Buyer, See opposite and on reverse side for additional
properly installed if required, and information about non-payment, default, any
unconditionally accepted by the Buyer on the date required payment in full before the scheduled
of this Contract. date, and prepayment refunds.
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NOTICE TO THE BUYER: SELLER
1. Do not sign this Agreement before you read it ------------------------------------------
or if it contains any blank spaces. This Agreement
consists of two pages.
2. You are entitled to an exact copy of the
Agreement you sign.
3. Under the law, you have the right, among
others, to pay in advance the full amount due and
to obtain under certain conditions a partial
refund of the finance charge.
The Buyer acknowledges receipt of an exact copy of
this Contract
COMMERCIAL INSTALLMENT CONTRACT
BUYER ____________________________________________
BUYER ____________________________________________
I hereby guarantee the payment of the above
described amount upon failure of Buyer to pay said
amount to Seller named herein.
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GUARANTOR ________________________________________
By________________________________________________
CONTINUING GUARANTY
For Valuable Consideration, the receipt and sufficiency of which is hereby
acknowledged, the undersigned, for themselves, their heirs, executors, personal
representatives, successors and assigns (individually called "Guarantor" and
collectively called "Guarantors") jointly and severally and in solido, hereby
unconditionally guarantee to Associates Capital Services Corporation,
- ---------------------- its successors, endorsees and assigns, (collectively
called "Associates") that Multi-Link Communications, Inc. (the "Company), whose
address is 811 Lincoln Street, Denver, Colorado 80203,
(Part to be Guaranteed) Debtor
shall promptly and fully perform, pay and discharge all of its present and
future liabilities, obligations and indebtedness to Associates, whether direct
or indirect, joint or several, absolute or contingent, secured or unsecured,
matured or unmatured, and whether originally contracted with or otherwise
acquired by Associates (all of which liabilities, obligations and indebtedness
are herein individually and collectively called the "Indebtedness"). This
Guaranty is an absolute and unconditional guarantee of payment and not of
collectibility. The liability of each Guarantor hereunder is not conditional or
contingent upon the genuineness, validity, sufficiency or enforceability of the
indebtedness or any instruments, agreements or chattel paper related thereto
(collectively called "Agreements") or any security or collateral therefor
(collectively called "Security") or the pursuit by Associates of any rights or
remedies which it now has or may hereafter have. If the Company fails to pay the
indebtedness promptly as the same becomes due, or otherwise fails to perform any
obligation under any of the Agreements, each Guarantor agrees to pay on demand
the entire indebtedness and all losses, costs, attorney's fees and expenses
which may be suffered by Associates by reason of the Company's default or the
default of any Guarantor hereunder, and agrees to be bound by and to pay on
demand any deficiency established by the sale of any of the Agreements or
Security, all without relief from valuation and appraisement laws and without
requiring Associates to (i) proceed against the Company by suit or otherwise,
(ii) foreclose, proceed against, liquidate or exhaust any of the Agreements or
Security, or (iii) exercise, pursue or enforce any right or remedy Associates
may have against the Company, any co-Guarantor (whether hereunder or under a
separate instrument) or any other party. Each Guarantor agrees that: this
Guaranty shall not be discharged or affected by any circumstances which
constitute a legal or equitable discharge of a Guarantor or surety, or by the
death of any Guarantor; the records of Associates shall be received as
conclusive evidence of the amount of the indebtedness at any time owing; one or
more successive or concurrent suits may be brought and maintained against any or
all of the Guarantors, at the option of Associates, with or without joinder of
the Company or any of the other Guarantors as parties thereto; such Guarantor
will not avail itself of any defense whatsoever which the Company may have
against Associates, other than full payment of the indebtedness; and such
Guarantor will not seek a change of venue from any jurisdiction or court in
which any action, proceeding or litigation is commenced.
EACH GUARANTOR HEREBY WAIVES NOTICE OF ANY ADVERSE CHANGE IN THE COMPANY'S
CONDITION OR OF ANY OTHER FACT WHICH MIGHT MATERIALLY INCREASE SUCH GUARANTOR'S
RISK, WHETHER OR NOT ASSOCIATES HAS KNOWLEDGE OF THE SAME. EACH GUARANTOR ALSO
HEREBY WAIVES ANY CLAIM, RIGHT OR REMEDY WHICH SUCH GUARANTOR MAY NOW HAVE OR
HEREAFTER ACQUIRE AGAINST THE COMPANY THAT ARISES HEREUNDER AND/OR FROM THE
PERFORMANCE BY ANY GUARANTOR HEREUNDER INCLUDING, WITHOUT LIMITAITON, ANY CLAIM,
REMEDY OR RIGHT OF SUBROGATION, REIMBURSEMENT, EXONERATION, CONTRIBUTION,
INDEMNIFICATION, OR PARTICIPATION IN ANY CLAIM, RIGHT OR REMEDY OF ASSOCIATES
AGAINST THE COMPANY OR ANY SECURITY WHICH ASSOCIATES NOW HAS OR HEREAFTER
ACQUIRES; WHETHER OR NOT SUCH CLAIM, RIGHT OR REMEDY ARISES IN EQUITY, UNDER
CONTRACT, BY STATUTE, UNDER COMMON LAW OR OTHERWISE.
No termination hereof shall be effective until the Guarantors deliver to
Associates a written notice signed by them electing not to guarantee any new
extension of credit that may be granted by Associates to the Company after its
receipt of such notice, but such notice shall not affect the obligation of the
guarantors hereunder as to any and all indebtedness existing at the time such
notice is received. Each Guarantor hereby waives (i) notice of acceptance hereof
and notice of extensions of credit given by Associates to the Company from time
to time; (ii) presentment, demand, protest, and notice of non-payment or protest
as to any note or other evidence of indebtedness signed, accepted, endorsed or
assigned to Associates by the Company; (iii) all exemptions and homestead laws:
(iv) any other demands and notices required by law; and (v) any right to trial
by jury. Associates may at any time and from time to time, without notice to or
the consent of any Guarantor, and without affecting or impairing the obligation
of any Guarantor hereunder; (a) renew, extend or refinance any part or all of
the indebtedness of the Company or any indebtedness of its customers, or of any
co-Guarantor (whether hereunder or under a separate instrument) or any other
party; (b) accept partial payments of the indebtedness and apply such payments
to any part of the indebtedness; (c) settle, release (by operation of law or
otherwise), compound, compromise, collect or liquidate, in any manner, any of
the indebtedness, any Security, or any indebtedness of any co-Guarantor (whether
hereunder or under a separate instrument) or any other party; (d) consent to the
transfer of any Security; (e) bid and purchase at any sale of any of the
Agreements or Security; and (f) exercise any and all rights and remedies
available to Associates by law or agreement even if the exercise thereof may
affect, modify or eliminate any rights or remedies which a Guarantor may have
against the Company. Each Guarantor shall continue to be liable under this
Guaranty, the provisions hereof shall remain in full force and effect, and
Associates shall not be stopped from exercising any rights hereunder,
notwithstanding (i) Associates waiver of or failure to enforce any of the terms,
covenants or conditions contained in any of the Agreements; (ii) any release of
or failure on the part of Associates to perfect any security interest in or
foreclose, proceed against, or exhaust, any Security; or (iii) Associates
failure to take new, additional or substitute security or collateral for the
indebtedness.
Each Guarantor agrees that Associates may bring any legal proceedings it
deems necessary to enforce any or all of such Guarantor's obligations hereunder
in any court in the State in which Associates' office administering the
indebtedness is located; and service of process may be made upon such Guarantor
by mailing a copy of the summons to such Guarantor at its address last known to
Associates. All rights and remedies of Associates are cumulative and not
alternative. Each provision of this Guaranty is intended to be severable. Any
term or provision hereof declared to be contrary to, prohibited by or invalid
under applicable laws or regulations shall be inapplicable and deemed omitted
herefrom, but shall not invalidate the remaining terms and provisions hereof.
IN WITNESS WHEREOF, the Guarantors have executed this Guaranty on
Witness Guarantor
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(name of individual, corporation or
partnership)
Witness By
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(If corporate guarantor, authorized
officer must sign and show corporate
title. If partnership guarantor, a
general partner must sign and show
"Partner" after name. If individual
guarantor, show "Individual" after
name.)
Address
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Witness Guarantor
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(L.S.)
Witness By
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(If corporate guarantor, authorized
officer must sign and show corporate
title. If partnership guarantor, a
general partner must sign and show
"Partner" after name. If individual
guarantor, show "Individual" after
name.)
Address
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Note: Insert exact company names where appropriate, individual guarantors must
sign guaranty without titles. Sign simply "John Smith, Individually," not
"John Smith, President.