Apply for Our Plumbing Company’s Commercial Credit

In consideration of Aqua Plumbing Supply

In consideration of Aqua Plumbing Supply Corp. (referred to herein as “Aqua”), extending credit to the Applicant. Applicant agrees to pay for all items delivered to or at the request of the Applicant by Aqua, based on the following terms; 2% 10th following month, net thereafter. Interest and service charges will be imposed if payment is not received by the 25th of the following month. All accounts are due and payable at the remittance address shown on the Aqua invoice. The Applicant agrees that each of the terms and conditions of sale stated on the Aqua invoices shall be a term of the contract of each sale from Aqua to the Applicant. The Applicant acknowledges that after 30 days, a 1% per month, 12% per annum interest charge and a 1% per month, 12% per annum service charge will apply on all sums due to Aqua which have not been paid within thirty (30) days from the invoice date and the Applicant agrees to promptly pay said interest and service charge. The service charge will be due and payable on the 30th of the following month and an additional service charge computed on the same basis will be die and payable every thirty (30) days thereafter. Waiver of any on or more service charges shall not be deemed a waiver of future service charges. The Applicant further agrees that with regard to such service charges, the Applicant and Aqua are parties to a written contract. In the event of a default in payment and if an attorney is retained for collection, the Applicant agrees to pay all costs of collection, including, but not limited than attorney fee equal to or greater of 33% of the monies due to Aqua or an attorney fee equal to the hourly fee charged by Aqua’s attorneys, multiplied by the hour expended by said attorneys. Attorney fee shall be paid by the Applicant when incurred for constitution, trial or appellate services, whether suit be brought or not. Furthermore, the Applicant expressly agrees that regardless of place of payment, all suits at law or in equity of breach fo this Agreement or for default in payment shall be instituted and maintained in any Court of competent jurisdiction in the applicable state. The Applicant hereby expressly waives and venue rights. The terms of this Agreement shall be governed bu the laws in the county of Kings/State of NY and the parties agree to submit to the jurisdiction of set State. The undersigned warrants the above Agreement has been carefully read and the Applicant understands the same. The Applicant authorizes Aqua to obtain credit and financial information concerning the Applicant at any time and from any source.

PERSONAL GUARANTEE
For value received to induce Aqua Plumbing Supply, Corp. (“Aqua”) to extend credit to the Customer, the Guarantor (even if more than one) hereby warrants and unconditionally guarantees to Aqua the full and prompt payment when due (including any accelerated or extended maturity) of all indebtedness, obligations and liabilities of Customer to Aqua, including finance charges applicable thereto, now existing or hereafter created or arising even if such indebtedness is in excess of the applied for, or established credit line. Guarantor further agrees to waive all venue rights and pay all expenses, including expenses of court costs and attorney or agency fees paid or incurred by Aqua in endeavoring to collect such indebtedness or any part therefore in enforcing the Guaranty as stated in the Application. Guarantor waives all notices and demands of any kind, and hereby consents to any agreement or arrangement whatever the Customer, including without limitation agreements and arrangements for payment, extension, subordination, composition, arrangement, discharge or release of the whole or any part of the indebtedness, and the same shall in no way impair Guarantor’s liability hereunder, Aqua may release or relinquish any security now or hereafter held for any indebtedness hereby guaranteed or any guarantors or sureties, without the same discharging, releasing, or in any manner affecting liability of Guarantor hereunder. This Guarantee shall be enforceable before or after proceeding against the Customer, or simultaneously therewith and without resort to any security. The incorporation, merger reorganization or sale of the Customer’s business shall not operate as a termination of the Guaranty, and the guaranty shall confine as to credit extended such other entity. This Guaranty shall continue in force until notice in writing of termination sent registered or certified mail, return receipt requested, is received by Aqua, AttentionL Credit Manager. Not withstanding said termination, this guarantee shall remain in full force and effect as to the outstanding balance of the debit as of the date of termination of the guarantee together with any and all accrued interest and cost of collection of the debt.