1. AGREEMENT OF SALE - Seller shall sell, deliver, and/or install at the customer designated location (herein "premises"), the hardware and services described in the System Configuration that is incorporated herein by reference (herein "System").
2. TERMS OF PAYMENT - The full purchase price, including taxes, is due at the time of delivery. Payment for Services are due upon initiation of support. The payment terms are cash in advance, or if Seller approves the Customer's credit, net thirty (30) days. The Customer has the option to enter into an agreement with a Third Party Funding Source satisfactory to the Seller. Seller will cooperate with the Customer in arranging for such funding. Seller shall not be required to commence installation of the System until the Customer's credit shall have been approved by Seller. In the event the Customer elects to obtain a Third Party Funding Source for payment of the System, the Customer shall remain liable to the Seller for payment of all amounts due hereunder until Seller has received payment in full. If Customer's Third Party Funding commitment is cancelled or terminates for any reason before Seller receives full payment, Customer shall immediately make payment to Seller the unpaid balance of the Purchase Price and any other amounts due Seller hereunder. Customer shall promptly and on a timely basis execute all documents and take all other action required or requested to cause payment to Seller to be made by customers Third Party Funding Source in accordance with the terms of this Agreement.
3. DELIVERY - Delivery occurs F.O.B. Seller, freight collect, unless noted otherwise in System Configuration portion on reverse. Seller shall use its best efforts to make timely delivery. HOWEVER, ALL STATED DELIVERY AND INSTALLATION DATES, AS STATED IN SYSTEM CONFIGURATION QUOTATION ARE APPROXIMATE, AND SELLER SHALL, UNDER NO CIRCUMSTANCES, BE DEEMED TO BE IN DEFAULT HEREUNDER OR BE LIABLE FOR CONSEQUENTIAL, INCIDENTAL OR SPECIAL DAMAGES OR COMMERCIAL LOSS RESULTING INSTALLATION, OR SERVICE. DELAY WILL NOT BE GROUNDS FOR CANCELLATION.
4. GRANT OF SECURITY INTEREST - Customer shall acquire title to the System upon payment in full of the Purchase Price, plus all applicable taxes, to Seller. As long as any part of the Purchase Price remains outstanding, title to the System shall remain with Seller, and Seller shall retain a security interest in the System until all amounts due are paid in full. Customer agrees to execute any documents which may be necessary or appropriate to perfect Seller's interest in the System, including but not limited to a UCC-1.
5. LIMITED WARRANTIES - Seller warrants the System against defective parts and workmanship for a period equal to the warranty period(s) for each component of the systems as provided by their respective manufacturers and/or developers. SharkRack parts are under warranty for a period of 1 year from date of delivery to customer premises. Seller's sole obligation under this warranty and the sole and exclusive remedy of the Customer under this warranty is limited to the replacement or repair, at Seller's options, of the defective part(s) or workmanship. The amount of time required to resolve warranteed products is determined by the respective manufacturers and/or developers. The repair or replacement of defective part(s) or workmanship is conditioned upon the System not having been altered or repaired by anyone other than Seller, its employees, or agents. Seller shall not be responsible for any defect resulting from the mishandling, abuse, improper storage, accident, negligence, theft, vandalism, fire, water, acts of GOD, or other peril beyond the control of Seller or because of conditions outside of specifications, including but not limited to wiring, electrical power, temperature, humidity or dust; or by cause other than normal use; or due to improper instal
