Installment Sale Contract and Security Agreement between Ready Mix, Inc. and Cashman Equipment Co.

Contract Categories: Business Finance › Purchase Agreements
Summary

Ready Mix, Inc. agrees to purchase a used Caterpillar Skid Steer Loader from Cashman Equipment Co. for a total price of $24,537.48, with a trade-in of a JCB 185 and a down payment of $10,500. The remaining balance will be paid in 36 monthly installments of $389.93 each, starting March 12, 2004. The contract also serves as a security agreement, giving the seller a security interest in the equipment until the balance is paid. The agreement outlines payment terms, trade-in conditions, and buyer obligations.

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EX-10.261 6 p69143exv10w261.txt EX-10.261 EXHIBIT 10.261 INSTALLMENT SALE CONTRACT (SECURITY AGREEMENT) PURCHASER (S): SELLER (DEALER): READY MIX, INC. CASHMAN EQUIPMENT CO. 1430 E. FLAMINGO ROAD 3101 EAST CRAIG ROAD SUITE 100 P.O. BOX 271630 LAS VEGAS, NV 89121 LAS VEGAS, NV 89127-1630 County: CLARK Subject to the terms and conditions set forth below and on the reverse side hereof, Seller hereby sells the equipment described below (the "Unit" or "Units") [ILLEGIBLE] Purchaser, and Purchaser (if more than one, jointly and severally), having been offered both & cash sale price and a time sale price, hereby buys the Units from Seller on a time sale basis.
NEW (IF USED) DELIVERED OR FIRST CASH SALE USED USED MODEL DESCRIPTION OF UNIT(S) SERIAL# PRICE - ------------------------------------------------------------------------------------------------ (1) 216 Caterpillar Skid Steer Loader 4N20471d $ 22,500.00
FIRST DESCRIPTION OF ADDITIONAL SECURITY Sub-Total .................................. $ 22,500.00 USED (MAKE, MODEL & SERIAL NUMBER) Sales Tax .................................. $ 1,687.50 1. Total Cash Sale Price ...................... $ 24,187.50 Cash Down Pay .............................. 0.00 Net Trade-in Allow ......................... 10,500.00 FIRST DESCRIPTION OF TRADE-IN EQUIPMENT 2. Total Down Payment ......................... $ 10,500.00 USED (MAKE, MODEL & SERIAL NUMBER) 3. Unpaid Balance of Cash Price(1-2) .......... $ 13,687.50 JCB 185 746860 4. Official Fees (Specify) .................... $ 350.00 Document Fee ............................... 350.00 Other Fees ................................. 0.00 5. Physical Damage Insurance .................. $ 6. Principal Balance (Amount Financed) (3+4+5) .................. $ 14,037.50 Trade-in Value 10,500.00 7. FINANCE CHARGE Less Owing to 0.00 (Time Price Differential) .................. $ 0.02 Net Trade-in Allowance 10,500.00 8. Time Balance (Total of Payments) (6+7) .................. $ 14,037.48 Location of Units: 3430 E. FLAMINGO ROAD 9. Time Sale Balance LAS VEGAS, NY 89121, CLARK (Total of Payment Price) (2+8) ............. $ 24,537.48 10. ANNUAL PERCENTAGE RATE ..................... 0.00% 11. Date FINANCE CHARGE begins to accrue 2-12-04
PURCHASER HEREBY SELLS AND CONVEYS TO SELLER THE ABOVE DESCRIBED TRADE-IN EQUIPMENT AND WARRANTS IT TO BE FREE AND CLEAR OF ALL CLAIMS, LIENS SECURITY INTERESTS AND ENCUMBRANCES EXCEPT TO THE EXTENT SHOWN ABOVE. 1. PAYMENT: Purchaser shall pay to Seller, at PO Box 100647 [ILLEGIBLE], CA 91189-0647 or such other location Seller designates in writing, the Times Balance (Item 8 above) as follows (check (a) or (b)]: X (a) in 36 equal monthly installments of $ 389.93 each, with the first installment due on 3-12-04, and the balance of the installments due on the like day of each month thereafter, (except no payments shall be due during the month(s) of n/a), until the entire indebtedness has been paid; or __(b) in accordance with the Payment Schedule attached to this Contract. (Provisions of section 1 continued or reverse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urchaser(s) and Seller have duly executed this Contract as of 2-12-2004 Purchaser(s) Seller: READY MIX, INC. CASHMAN EQUIPMENT CO. By /s/ [ILLEGIBLE] By /s/ [ILLEGIBLE] ---------------------------- ----------------------------- Name (PRINT) [ILLEGIBLE] Name (PRINT) [ILLEGIBLE] Title [ILLEGIBLE] Title [ILLEGIBLE]