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McCoy's Commercial Credit Account Agreement

(INSTRUCTIONS: The appropriate officers, owners or partners must sign and date the Credit Agreement and the Continuing Guaranty. The Credit Agreement and the Continuing Guaranty will not be accepted with strike outs, interlineations, or other changes or modifications.)


The undersigned (referred to herein as “Customer”) desires to purchase from MCCOY CORPORATION (herein “MCCOY’S”) from time to time on open account various items of personal property (herein “goods”), and hereby applies to MCCOY’S for credit in the payment of the purchase price of any goods purchased by Customer. In consideration for such extensions of credit from time to time granted by MCCOY’S to Customer, and in order to induce MCCOY’S to extend credit, Customer hereby promises, agrees, warrants and represents as follows:

1. The credit periods for any purchase of goods shall commence to run on the date of the respective purchases. A delay in the transmission of any invoice from MCCOY’S to Customer resulting from any cause whatsoever, shall not extend the period for payment. The following payment terms apply to each sale and purchase of goods: all purchases are due and payable Net 10th Prox.

2. Unless Customer has specifically requested to opt out of electronic communication by checking the designated box on its application, Customer agrees to accept invoices and other communication sent to the email address provided by Customer on the application. Customer is solely responsible for providing an accurate email address and promptly notifying McCoy's of any changes. Any invoices, statements or other communication sent to Customer’s email will have the same effect of any written communications sent to customer by US mail or other means and will satisfy any legal requirement that such communications be in writing. Your agreement to accept email communication will not affect any other terms of this agreement.

 3. The parties hereby acknowledge that the final act to the formation of this agreement is the approval hereof by MCCOY’S at its home office in San Marcos, Hays County, Texas, and that until so approved, no agreement exists. This agreement is for commercial purposes and does not and will not involve the extension of credit for personal, family, or household use. The applicant further consents and submits to the jurisdiction of the courts of the State of Texas and agrees that all payments due or to become due are payable to MCCOY’S at its home office in Hays County, Texas, and that any other obligation performable by applicant under this credit agreement is performable in Hays County, Texas. All rights and obligations under this agreement shall be determined according to the laws of the State of Texas. Payments, when received, shall be applied to accrued interest and charges then due, and the balance, if any, to the payment of the oldest outstanding invoices.

4. Customer shall pay to MCCOY’S a service charge calculated at the rate of eighteen percent (18%) per annum on all past due purchases from the date such purchase is due until paid. In no event shall interest contracted for, charged or received by MCCOY’S, plus any other charges in connection herewith, which constitute interest, exceed the maximum interest permitted by applicable law; and if, at any time the interest received, charged or contracted for exceeds the maximum lawful interest rate, MCCOY’S shall either refund the amount of the excess, or shall credit it against other obligations or indebtedness owing by Customer to MCCOY’S, and such excess shall not be considered the payment of interest.

5. The information provided by Customer in its Application for Credit is true and correct in all respects as of the date of the Application; and Customer expressly and irrevocably authorizes MCCOY’S to conduct any credit investigation, or to verify any other information MCCOY’S deems necessary, now or at any other time. Customer is indebted to MCCOY’S, whether through any credit reporting agencies or directly through other creditors of Customer. Changes in authorized signatories on customer’s account must be in writing, on Customer’s letterhead, delivered to MCCOY’S to be effective.

6. Customer expressly waives all notices, demands for payment, presentment, protest and notice of protest as to each and every obligation of Customer to MCCOY’S. At any time, without notice to Customer, and with or without cause, MCCOY’S may, in its sole discretion, require that Customer pay cash for any purchase of goods at the time of such purchase or at delivery of the goods, and may refuse to extend credit to Customer.

7. If the account is placed in the hands of an attorney for collection, or suit is brought on same, or the same is collected through probate, bankruptcy or other judicial proceedings, Customer agrees and promises to pay all costs of collection, attorney’s fees and court costs.Customer further agrees that the exclusive venue for any and all collection actions is in Hays County, Texas.

8. This agreement, together with the invoices issued from time to time, shall constitute the agreement of the Customer with respect to credit purchases for MCCOY’S. In the event of any conflict between the terms of any invoice or this agreement, then the terms of this agreement will control. In the event that any provision contained herein shall later be held to be void or unenforceable by a court of competent jurisdiction, the remaining provisions of this Agreement shall remain fully enforceable.

9. The undersigned hereby consent(s) to MCCOY’S use of a non-business consumer credit report on the undersigned in order to further evaluate the credit worthiness of the undersigned as principal(s), proprietor(s), and/or guarantor(s) in connection with the extension of business credit as contemplated by this credit application. You also authorize McCoy's to report information concerning you or your Account, and any Personal Guarantor, including information about your, and any Personal Guarantor’s, performance under this Agreement, to consumer reporting agencies and others who may properly receive such information. The undersigned hereby authorize(s) MCCOY’S to utilize a consumer credit report on the undersigned from time to time in connection with the extension or continuation of the business credit represented by this credit application. The undersigned as [an] individual(s) hereby knowingly consent to the use of such credit report consistent with the Federal Fair Credit Reporting Act as contained in 15 U.S.C. @ 1681 et seq.