This PayPlan Addendum to Client Services Agreement (“Addendum”) is entered into by and between
AssetBull (DBA of New Shoes Enterprises, LLC) (“Company” or “the Company”),
Not Yet Entered, representing Not Yet Entered (“Client”), as Not Yet Entered,
and Not Yet Entered (“Guarantor”).
Effective Date:
1. Purpose and Authorization
This Addendum modifies the original Client Services Agreement (“Agreement”) executed between the Company and the Client.
The Client authorizes the Company to electronically debit the account designated in this application and, if necessary, to electronically credit the account to correct any erroneous debits. The Client agrees that all ACH and credit or debit transactions authorized herein comply with applicable United States banking laws and regulations.
This authorization remains in effect until the full payment obligation under this Addendum has been satisfied, or until written notice of revocation has been provided to the Company with at least thirty (30) business days’ notice.
This payment authorization and the associated Addendum are pending review and formal approval by the Company’s management. No plan is binding until confirmed in writing by the Company. A typed or electronic signature has the same legal effect as a handwritten signature under the United States E-Sign Act of 2000.
2. Balance Owed
The total amount owed to the Company as of the Effective Date is
Not Yet Entered (“Principal Balance”).
3. Interest
So long as payments are made in a timely manner, interest shall accrue on the unpaid Principal Balance at rate of 18% per annum, simple non-compounding, until paid in full. In the event a payment is not made in a timely manner, default interest shall accrue on the principal amount at the rate of 36% per annum.
4. Payment Terms
Principal balance: Not Yet Entered
Initial payment: Not Yet Entered
Payment timing: Not Yet Entered
Installment amount: Not Yet Entered
Payment method: Not Yet Entered
Interest Rate (if applicable): Not Yet Entered
Total of payments (estimated): Not Yet Entered
The Company will notify Client if it approves the repayment plan requested, after it verifies the amounts are correct and the repayment timeline and terms are acceptable.
5. Default and Remedies
If any payment is more than ten days past due, the remaining balance becomes immediately due with accrued interest and collection costs.
6. Legal Costs
Client will pay all reasonable attorneys’ fees and costs incurred by the Company in enforcing this Addendum.
7. Governing Law and Venue
Arizona law governs. Venue is the Maricopa County Superior Court.
8. Entire Agreement
All other terms of the original Agreement remain in effect. This Addendum supersedes any oral or written representations regarding payment extensions or interest.
9. Personal Guarantee
The Guarantor hereby unconditionally, absolutely, and irrevocably guarantees to the Company the full and prompt payment and performance of all obligations of the Client under this Agreement, including without limitation the payment of the Settled Balance and, in the event of an Event of Default, the Net Amount Owed to the Company (collectively, the “Guaranteed Obligations”). This is a guarantee of payment and performance and not merely of collection.
The Guarantor’s obligations under this guarantee are primary, direct, and immediate and not conditional or contingent upon pursuit of any remedies against the Client or any other person. The Guarantor waives: (a) notice of acceptance of this guarantee and of any liability to which it applies or may apply; (b) presentment, demand for payment, protest, notice of dishonor or nonpayment of any such liabilities; (c) all other notices and demands to which the Guarantor might otherwise be entitled; (d) any requirement that the Company exhaust any right or take any action against the Client or any other person; and (e) any defense based on or arising out of any defense of the Client, including without limitation any defense based on any claim that the Guarantor’s obligations exceed or are more burdensome than those of the Client.
The Company may, without notice to or consent of the Guarantor and without affecting the Guarantor’s obligations hereunder: (i) compromise, settle, renew, extend, accelerate, or otherwise change the time for payment or performance of, or otherwise modify, the terms of the Guaranteed Obligations or any part thereof; (ii) take and hold security for the payment and performance of the Guaranteed Obligations and sell, exchange, release, surrender, realize upon, or otherwise deal with in any manner and in any order any property pledged or mortgaged to secure payment of the Guaranteed Obligations; (iii) release or substitute any one or more endorsers, guarantors, the Client, or other obligors; and (iv) exercise or refrain from exercising any rights against the Client or others or otherwise act or refrain from acting.
Guarantor agrees that the Guarantor’s obligations under this guarantee shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Guaranteed Obligations is rescinded or must otherwise be returned by the Company upon the insolvency, bankruptcy, or reorganization of the Client, or otherwise. This guarantee shall remain in full force and effect until all Guaranteed Obligations have been fully paid and performed, and shall be binding upon the Guarantor and the Guarantor’s heirs, executors, administrators, successors, and assigns.
Client Signature (image): {Signature:43}
Guarantor Signature (image): {Signature:56}
This Addendum is submitted by the Client and is subject to the Company’s final review and approval. Approval will be communicated by email or phone. No countersignature is required.