LAC WHOLESALE LLC

2901 Linwood Avenue, Shreveport LA 71103

PHONE 318-562-6592 Email LACWHOLESALE@GMAIL.COM                                  DATE:


Parties hereby agree that all purchases made are extensions of credit are subject to the following terms and conditions:

  1. No credit will be extended unless the personal guaranty set out below is signed by a propertier or partner. In the event that this guaranty is executed by more than one person, then in such event the liabilities and obligations of the undersigned hereunder shall be joint and several and the relative wants herein shall be read so its written in the plural.
  2. All invoices are due and payable without discount on or before expiration of the terms assigned to the Account, and the terms have been explained to me. All sums received by Seller shall first be applied to the oldest charges, then to the next oldest, and so forth. Purchaser agrees to any interest on all past due sums at the rate of 22 percent per annum.
  3. The undersigned Purchaser agrees to pay Seller a service charge of $30.00 for all protested checks returned by their bank.
  4. The undersigned Purchaser agrees to notify Seller by certified mail of any changes of ownership of the account or of any change of financial status which renders or threatens to render the account insolvent and further agrees to be liable for all purchases should the undersigned fail to comply with said notification.
  5. The parties hereby acknowledge that the statement for goods and/or services purchased from Seller is not payable in installments but are payable in full stated herein.
  6. The undersigned Purchaser agrees to pay in the event that the account becomes delinquent and is turned over to an attorney or agency for collection, a reasonable fee. In no event shall such reasonable fee be less than 33 1/3% of the balance due plus all attendant collection costs. It is understood that in the event of suit or action, that Caddo Parish, Louisiana is the venue for litigation. We understand we are waving all right to litigate outside of Caddo Parish, Louisiana. We further covenant and agree, if suit is filed that the Superior Court of Caddo Parish, Louisiana retains both in rem and persona jurisdiction over us and all our Assets.
  7. Seller may require that a new credit application be filed at any time and may terminate credit if such application is not filed.
  8. The covenants, waivers, releases and promises stated are made in consideration of Seller extending credit to the Purchaser on open account.
  9. Purchaser warrants to Seller that the tobacco tax number and sale tax number are valid and agrees to assume all liabilities associated with these representations.
  10. This credit application and the following personal guaranty shall apply to all sales made by Seller to Purchaser and not merely to the business location or operation noted herein.
  11. Purchaser herein grants a UCC security interest in and to any all of Purchaser’s present and future inventory (including consigned inventory), related equipment, goods and merchandise and other items of personal, items held for sale, including any and all right of forfeiture, all insurance proceeds related to above items whether now owned or hereby acquired by Purchaser and proceeds there from, for all stores that purchaser operates now and hereafter and for all related parties and entities.
  12. Seller may acquire that a new credit application be filed at any time and may terminate credit if such application is not filed.
  13. Purchaser warrants to Seller that all financial information furnished for the purpose of obtaining credit is true, correct and complete in all material respects, and Purchaser authorizes Seller to investigate all references furnished pertaining to the credit and financial responsibility of Purchaser.

I the undersigned hereby personally guarantees to the aforesaid Seller payment of any obligation of the aforesaid Purchaser and I hereby bind myself to pay on demand any sum which may become due by the Purchaser whenever the Purchaser shall fail to pay the same. It is understood that this guaranty shall be a continuing and irrevocable guaranty and indemnity for such indebtedness of the Purchaser, I waive notice of default, non-payment and consent any modification or renewal of agreement hereby guaranteed. I further agree to pay, in the event of delinquency of the account, a reasonable fee, and in no event shall such fee be less than 33 1/3% of the balance due plus all attendant collection costs.

 

WITNESS NAME & SIGNATURE                                                       DATE

 

 

GURRANTOR SIGNATURE               NAME                                        SOCIAL SECURITY NUMBER