CREDIT TERMS AND CONDITIONS

I) In consideration of the opening of a Fuel Management System account with Cosby Oil Company, Inc. (“SUPPLIER”) and Applicant (“USER”) agrees to the following terms and conditions which will apply in all credit transactions with SUPPLIER:
II) User agrees to pay SUPPLIER’s Fuel Management System fees set forth in this agreement in accordance with the following terms:
a) Payment will be due on demand, and if no demand is made, then net (10) days from the date of the invoice. Invoices will be issued weekly (for Voyager transactions) or 3 times monthly (for CFN transactions). Payment of each invoice will be according to the terms and due dates showing on the invoice. All payments are due and payable at our office in Santa Fe Springs, CA.
b) A service charge equal to 1.5% per month (18% annual rate), or the maximum rate allowed by law, whichever is lesser, will be charged against all past due amounts.
c) A service charge of thirty-five dollars ($35.00) will be charged to USER for all returned checks or electronic payments. Any wire transfer fees are an additional $35.00.
d) USER agrees to pay all attorney’s fees and collection costs associated with the collection of any past due account. Venue for any legal proceedings with respect to this account will be proper in the Los Angeles Superior Court.
III) User hereby accepts the obligation and responsibility for payment for all fuel registered through the Fuel Management System account number(s) assigned to USER by SUPPLIER. USER will notify SUPPLIER of any lost card immediately upon the determination that a Fuel Management System Card has been lost or stolen. Notice may be given orally but MUST be confirmed in writing within 24 hours, by registered or certified mail. USER agrees to pay for all products delivered through the Fuel Management System prior to SUPPLIER’s receipt of such written notice.
IV) If a Fuel Management System Card is locked out for any reason, written application must be made to reinstate the Fuel Management System Card or account. SUPPLIER reserves the right to refuse to reinstate accounts that are past due. NO cancelled account may be reinstated unless all monies owed on said account are paid in full, including all charges and fees. A $35.00 charge will be made to reinstate the account.
V) USER understands that card restrictions (profiles) are not guaranteed. USER assumes the risk that the card(s) may be used by unauthorized persons.
VI) This credit agreement may be cancelled upon 24-hours’ written notice by SUPPLIER or USER. Should USER cancel an account, all monies due will be paid within ten (10) days of such cancellation.
VII) USER understands and agrees that his/her right to the Fuel Management System account may not be assigned, and any attempted assignment shall be null and void and can lead to cancellation of the account.
VIII) USER accepts any and all liability arising or resulting from the misuse, unauthorized use, loss or theft of any Fuel Management System Card resulting in access to the Fueling Systems maintained and operated by SUPPLIER and any CFN or Voyager Network participant. USER understands that the rights conferred herein allow USER to access and use products on private premises not open to the general public, and such access is consideration for the obligations of the USER under this agreement. User agrees not to write the “PIN” code on the card and to keep  the “PIN” code separate from the card in a secure location.
IX) USER agrees that any environmental charge levied against SUPPLIER or any other CFN Network participant for negligent use by USER of its card or equipment, shall be promptly paid by USER.
X) Customer will promptly notify SUPPLIER of any change in residence or mailing address.
XI) At any retail location where the same pumps are being used for both retail and card lock sales, USER acknowledges that the posted per gallon price does not necessarily reflect the actual per gallon card lock price. Prices posted on the pump reflect cash or credit card pricing only- not card lock prices.
XII) SUPPLIER reserves the right to charge USER’s MasterCard, Visa, American-Express, Discover card or any other card provided on past due accounts, and USER hereby authorizes said charges.
XIII) The terms of this credit agreement may be amended by SUPPLIER, as its sole option, upon written notice of at least one full invoicing period.
XIV) Financial statements may be required for higher credit limits, at SUPPLIER’s discretion.
I have read, understand and agree to the Terms and Conditions of the Fuel Management System account presented above.
I hereby declare the foregoing information is true and correct; I/we hereby authorize Cosby Oil Company, Inc. to conduct a credit check on both personal and business as applicable. I understand that the information therein will be used in the decision of whether or not to grant credit. I agree to abide by Cosby Oil Company’s credit policy if credit is granted.