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Terms and Conditions

TERMS OF RECEIVING CREDIT

As conditions of receiving credit from Couch Oil Company of Durham, Inc. (hereinafter, “Seller”), the undersigned Customer(s) agrees to the following terms:

1. Customer warrants that it has the power to execute, deliver, and perform this Agreement and that there is no action, suit, condition or proceeding which would substantially impair its right or ability to carry on its business as now conducted or adversely effect its future financial condition.

2. Customer hereby consents and authorizes Seller to make credit inquires at any time which it may consider necessary to review

acceptance of this Agreement or to investigate their creditworthiness for the duration of this Agreement.

3. All invoices shall be paid according to the terms as stated on the face of the invoice and in accordance with the terms and conditions of this Agreement. Terms are net 30 days for all fuel purchases, transport loads (7,500 gallons each) are due in 15 days unless otherwise agreed to in writing at the time of account establishment. Customer agrees to pay a finance charge of one and one half percent per month or any portion thereof on any unpaid invoice from the date it became due until paid. Interest on any judgments obtained on amounts due under this Agreement shall bear interest at the above stated contract rate. Customer understands and agrees that petroleum products are delivered provisional conditioned upon final payment being received from Customer. Customer understands that it will be

fully liable for all deliveries made at its request (even in the event that none of its employees is available to sign the delivery tickets for such deliveries). All purchases shall be secured by a security interest in all petroleum products Customer and/or any affiliated entity has on hand, regardless of the sources of said products. In the event of a default in any payment when due, Customer authorizes Seller to effect a direct, Electronic Funds Transfer from any bank, saving and loan, or other account under the control of Customer directly to Seller’s Bank. By execution of this Agreement, Customer agrees to indemnify and hold harmless any depository holding funds under the control of Customer that transfers funds to Seller.

4. If it should become necessary for Seller to hire an attorney to collect any past-due amounts, Customer agrees to pay Seller’s attorneys’ fees incurred in connection with collection of any past-due amount. The parties herby agree that fifteen percent of the balance of the principal and interest due to Seller will be the amount of reasonable attorneys’ fees owed to Seller.

5. Customer’s exclusive remedy for breach of this Agreement, whether arising under tort, contract breach, warranty, or any defects of any nature in the materials sold hereunder shall be limited to the dollar amount Customer actually paid Seller for the materials. In no event shall Seller be liable for any incidental or consequential damages, including but not limited to loss of profits, and Customer hereby waives its right to recover incidental or consequential damages from Seller. Any action arising from the breach of this Agreement or any sale made pursuant to this Agreement must be commenced within one year after the cause of action has occurred.

6. Customer shall hold harmless and indemnify Seller against all liability, loss and expense including attorneys’ fees, incurred by Seller as a result of Customer’s transporting, loading, unloading, use or handling of materials sold pursuant to this Agreement. Nothing in this paragraph shall be construed as a promise by Customer to indemnify Seller for liability arising from the sole negligence of Seller.

7. Should any provision of this Agreement be held to be unenforceable, null or void, it shall be stricken to the minimum extent possible, and the balance of this Agreement construed by the remaining terms. Failure by Seller to enforce one or more of the provisions of the Agreement shall not constitute a waiver of the right to enforce the same or other provision in the future. This Agreement shall be governed and construed under the laws of the State of North Carolina. Any claim or cause of action arising under this Agreement shall be initiated and maintained in the State of North Carolina, County of Durham.

8. This Agreement expresses the entire understanding of the parties with respect to the subject matter hereof. It may be modified only in writing executed by all parties hereto. Except for purposes of collection, this agreement may not be assigned directly or by operation of law.

This Agreement shall be binding upon and inure to the benefit of the parties’ respective heirs, personal representatives and any successors that have been approved by Seller in writing.

9. A $25.00 handling fee will be charged for all checks returned from bank for any reason.

10. Nothing in this Agreement shall require Seller to extend credit to Customer or to sell any materials to Customer. If, however, Seller in its sole discretion decides to sell materials to or to extend credit to Customer, such extension of credit and the terms of sale of all goods purchased pursuant to such extension of credit, shall be governed by the terms and conditions of this Agreement. Seller may revoke any decision to extend credit at any time without cause.

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Durham Office

2907 Hillsborough Rd.

Durham, NC 27705

Phone: 919-286-5408

Apex Office

1009 Schieffelin Rd.

Apex, NC 27502

Phone: 919-552-8393

Propane Office

4630 Hillsborough Rd.

Durham, NC 27705

Phone: 919-375-2912

Contact


Durham Main Office

2907 Hillsborough Road Durham, NC 27705

919-286-5408

Apex Office

1009 Schieffelin Road

Apex, NC 27702

919-552-8393

Propane Office

4630 Hillsborough Rd

Durham, NC 27705

919-375-2912

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