This Agreement, and sums payable hereunder, may not be assigned by Dealer without written consent of NFI.ĭealer acknowledges that NFI charges an acquisition fee and a $75.00 loan processing charge on all contracts purchased and funded by NFI. Stipulated for such contracts purchased by NFI. Upon purchase by NFI of any contracts hereunder from dealer, dealer shall endorse and assign to NFI the obligations and all pertinent security, security instruments, along with such provisional endorsements as may be Motor vehicles owned by the Dealer and are free and clear of all liens and encumbrances. It is understood that NFI shall have the sole discretion to determine which Contracts it will purchase from Dealer.ĭealer represents and warrants that Contracts submitted to NFI for purchase shall represent valid, bona fide sales for the respective amount therein set forth in such Contracts and that such Contracts represent sales of Installment contracts, Conditional Sales Contracts, or other instruments hereinafter referred to as ∼ontracts, evidencing installment payment obligations owing Dealer arising from the time sale of motor vehicle(s) and secured by suchĬontracts. (NFI), from time to time, Promissory Notes, Security Agreements, Retail The undersigned Dealer proposes to sell to the undersigned Nicholas Financial, Inc.
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