Fill and Sign the Installment Sale 497331923 Form

Installment Sale and Security Agreement regarding Sale of Automobile from one Individual to Another Installment Sale and Security Agreement made on the       day of       , 20       , between       of       , (Name of Buyer) (Street Address)       , referred to herein as Buyer, and       , (City, County, State, Zip Code) (Name of Seller) of       , referred to herein as Seller. (Street Address, City, County, State, Zip Code) 1. Seller now sells and Buyer buys, subject to the terms and conditions set forth in this Agreement, the following described Automobile, together with its accessories and equipment. Such Automobile, accessories and equipment, together with all substitutions for such accessories and equipment and all additions and accessions to such Automobile, accessories and equipment, are referred to in this Agreement as the Automobile. Delivery and acceptance of Automobile in good order are acknowledged by Buyer. Furthermore, for the purpose of securing payment of the obligation under this Agreement, Seller hereby reserves a vendor’s lien in said Automobile and Buyer hereby grants Seller a security interest pursuant to       (Cite applicable state       until such obligation is fully paid. Buyer statute regarding Article 9 of the Uniform Commercial Code) acknowledges receipt of a copy of this Agreement. 2. Description of Automobile:  Make:       ;  Type of body:       ;  Model:       ;  Year of Model:       ;  Serial Number:       ;  Motor Number;       ;  Number of cylinders:       ;  New or used:       ; 3. Disclaimer of Warranties. NO WARRANTIES, EXPRESS OR IMPLIED, AND NO OTHER REPRESENTATIONS, PROMISES, OR STATEMENTS OF ANY NATURE HAVE BEEN MADE BY SELLER UNLESS ENDORSED ON THIS AGREEMENT IN WRITING. 4. Protection and Use of Automobile. Buyer shall keep Automobile free of all taxes, liens and encumbrances. Any sum of money paid by Seller in payment or discharge of taxes, liens, or encumbrances on Automobile shall be secured by and under this Agreement. Buyer shall not remove Automobile from the state of       without the written (Name of State) Installment Sale and Security Agreement Page 1 of 2 permission of Seller or of the assignee of this Automobile. Buyer shall not use Automobile illegally or improperly. Without the written consent of Seller or Seller's assignee, Buyer shall not transfer any interest in this Automobile or in Automobile. 5. Automobile Insurance. Seller may insure Automobile against fire and theft and/or any accidental physical damage, to protect Buyer, Seller, and/or Seller's assignee. The proceeds of any insurance, whether paid by reason of loss, injury, return of premium or otherwise, shall be applied at Seller's option toward the replacement of Automobile or toward payment of Buyer's obligations. Buyer shall pay the premiums of such insurance on demand. On Buyer's failure to do so, payment of the premiums shall be secured by this Automobile. 6. Remedies. Seller shall have all the remedies available to a secured party under       and any additional (Cite applicable state statute regarding Article 9 of the Uniform Commercial Code) remedies under this Agreement. Seller may enforce such remedies successively or concurrently. Time is of the essence of this Agreement, and in the event of any default under this Agreement, failure to comply with any condition of this Agreement, institution of receivership or insolvency proceedings against Buyer, or Seller's determination that Automobile is in danger of misuse or confiscation, the entire unpaid balance shall at Seller's option become immediately due and payable. Seller may then take immediate possession of Automobile without demand, including any equipment or accessories. For this purpose, Seller may enter on the premises where Automobile may be located and remove the Automobile. Such repossession shall not affect Seller's rights, now confirmed, to retain all payments made by Buyer prior to repossession. Seller may resell Automobile, so retaken, at public or private sale without demand for performance, with or without notice to Buyer, with or without having Automobile at the place of sale, and on such terms and in such manner as Seller may determine. If given, notice by mail to Buyer's above address shall be sufficient. Seller may bid at any public sale. From the proceeds of any such sale, Seller shall deduct all expense for retaking, repairing, and selling Automobile, including reasonable attorney's fees. The balance shall be applied to the amount due from Buyer. Any surplus shall be paid over to Buyer, but in case of deficiency, Buyer shall pay such deficiency to Seller with interest. Seller may take possession of any other property in Automobile at the time of repossession and hold such property temporarily for Buyer without any liability by Seller. 7. Waiver. No delay or omission by Seller in exercising any right or declaring any breach or default under this Agreement shall operate as a waiver of such right, breach, or default or of any other subsequent right, breach, or default. Witness our signatures this the       day of       , 20       . By: By: (Signature of Buyer) (Signature of Seller)             (Printed Name of Buyer) (Printed Name of Seller) Acknowledgements Installment Sale and Security Agreement Page 2 of 2