In consideration of the extension of credit by NATT, to the Applicant, the undersigned personally guaranties all Applicant's transactions with NATT. The undersigned Guarantor and Applicant agrees as follows:
1. Guarantor and Applicant will pay in full all amounts shown due on the monthly billing provided by NATT. Terms are net due no later than 30 days past due. Any amounts not paid by the last of the month following billing shall accrue finance charges of 1-1/2% per month (18% per annum) from date due until paid.
2. Guarantor and Applicant will notify NATT in writing of any disputed charges on any invoices by the fifteenth (15th) of the month following the billing. Failure to notify NATT shall mean that Applicant agrees that the charges reflected on said billing are correct.
3. Guarantor and Applicant agree to immediately notify NATT in writing of any changes of Applicant's ownership.
4. NATT shall not be liable for any delays in obtaining/delivering products and services
5. Guarantor and Applicant agree that this Agreement shall remain in full force and effect until written notification of cancellation is received by NATT. Cancellation shall not affect prior transactions subject to this Agreement.
6. If Applicant is a corporation, limited liability company, partnership or other entity, the persons executing this Application agree to personally guarantee the full payment and performance of all of Applicant's obligations under this Application.
I/We the undersigned, individually are persons with a financial interest in the Applicant and personally agree to pay jointly or severally the obligations of the Applicant to North American Truck & Trailer, Inc. and subsidiaries and hereby guarantee the prompt payment and performance of all obligations of the Applicant under this Agreement or any other agreement with NATT, and agrees to pay all of Applicant's amounts due to NATT including payment of all reasonable collection costs and service charges.