Exercise Extreme Caution when using many of our free forms - or any legal material. While they may provide general ideas on format & content, validity requirements can and do vary greatly from state to state. Many MUST be Properly Modified for your own location and circumstances. (Hint: If in doubt it's usually safer to include unneeded clauses than to leave out necessary ones. . . . but it's even safer to consult a competent source or use current, state specific ones like ours mentioned below.) Also, we urge people (and lawyers too) to read our Relying On Legal Info FAQ.

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CONDITIONAL SALES CONTRACT For good and valuable consideration, this conditional sales contract is entered into between (Seller) and (Buyer). Seller agrees to sell and the Buyer agrees to buy the following goods on a conditional sale:

Sale price: [$]
Sales tax: [$]
Other charges: [$]
Finance charges: [$]
Total purchase price: [$]

Deductions

Down payment: [$]
Other credits: [$]
Total deductions: [$]
Amount financed: [$]
ANNUAL INTEREST RATE: [%]

The amount financed is payable in [number] monthly payments of [$] each, starting on the [day] of the month of [month], [year], and continuing on the same day each succeeding month until paid in full.

The title to the goods remain with the Seller until payment of the full purchase price, subject to allocation of payments and release of security interest as required by law. The Buyer agrees to keep the goods free from other liens and encumbrances and not to remove the goods from the below address without the written consent of the Seller.

Buyer agrees to execute all financing statements as may be required of Seller to perfect this conditional sales contract.

The entire balance shall become immediately due upon default on any installment due or other breach of this agreement.

In the event of a default, Seller may enter upon the premises of the Buyer and reclaim said goods. If the Seller retakes the goods he/she has the right to resell them for credit to the balance purchased, and Seller may reacquire same all as further defined and set forth under state law.

On the demand of the Seller, the Buyer shall keep the goods adequately insured with the Seller named as the loss payee. On request, the Buyer shall provide Seller with proof of insurance.

In the event of default, Buyer shall be responsible to pay attorney fees, collection costs, and other fees associated with enforcement of this agreement. This agreement is binding upon and inure to the benefit of the parties, their successors, assigns, and personal representatives.

The full balance shall become due on default. Upon default, Seller will have the further right to retake the goods, hold and dispose of same and collect expenses, together with any deficiency due from the Buyer, but subject to the Buyer's right to redeem pursuant to law and the Uniform Commercial Code.

This agreement shall also be in default upon the death, insolvency, or bankruptcy of Buyer.

Signed under seal and accepted this [day] day of [month], [year].

_________________________
Buyer

_________________________ Seller

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