Tuesday, September 12, 2006

New Regional Sales Contract - What's New on Page of 7


23. ADJUSTMENTS: Added “Unless Leased” referring to fuel left in leased fuel tanks. Words “Deed of Trust” replaced with word “loan”.

24. ATTORNEY FEES: Added words “against the responsible party” to describe litigation for which the Broker will be reimbursed costs.

25. PERFORMANCE: THIS IS IDENTICAL TO THE 1999 Contract.

26. DEFAULT: Combined old paragraphs #9C and #25 to create one Default paragraph. Slight rewording of the lettered items, removed the reference to failure to disclose material change in employment or financial circumstanced; Added language regarding applying for property insurance. Add language that Default Paragraph applies even if Financing Contingency still applies.

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