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In consideration of the extension of credit to (hereinafter called “Purchaser), by I/we jointly and severally guarantee the payment to Roofing Products of Michigan of Purchaser’s indebtedness to Roofing Products of Michigan. The word indebtedness means the sum of Purchaser’s obligations unpaid and owing for present and future purchases.
I/we jointly and severally agree to pay Purchaser’s said indebtedness when due, without the necessity of any action or proceeding.
This Guaranty and Subordination shall be construed in accordance with, and governed by, the laws of the State of Michigan. Venue shall be Oakland County, Michigan.
I (We) have read and understand all of the terms and conditions herein having had the opportunity to consult with counsel of my (our) choice.
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A signed exemption certificate must be attached if exemption is (partially or completely) claimed.
This agreement is between Roofing Products of Michigan and the Customer named above. In consideration of the extension of credit, the customer promises and agrees to the following:
- To pay all invoices within their agreed upon terms.
- Any past due accounts shall bear an interest rate of 1 ½% Monthly, or 18% annually.
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