Document:

Floor Plan Agreement

 EXHIBIT 10.2 
 FLOOR PLAN AGREEMENT 
 THIS AGREEMENT, made this 13th day of
February, 2012, by and between Avangard Auto Finance, Inc. (“Avangard”) a Corporation organized under the laws of the State of Pennsylvania, having its principal place of business at 2708 Commerce Way,
Suite 300, Philadelphia, PA 19154; and AUTOSOURCE ENTERPRISES, INC. (“Dealer”), a Pennsylvania Corporation with its principal office located at 7525 Frankford Avenue, Philadelphia, Pennsylvania, 19136.

 THIS FLOOR PLAN AGREEMENT (“Agreement”) is in consideration of and as further security for payment of the
obligations, and for other valuable consideration, the receipt and sufficiency of which is acknowledged. Dealer, intending to be legally bound, agrees with Avangard as follows: 

 

	1.	THE LINE OF CREDIT. Avangard will extend to Dealer a Line of Credit in such amount as may be set by Avangard from time to time, but not to exceed Two Hundred
Fifty Thousand Dollars ($250,000.00) in total (“Aggregate Amount”). Dealer acknowledges and agrees that notwithstanding any provisions of the Agreement, Avangard has no obligation to make any advance, and that all advances are at the
sole discretion of Avangard. The Line of Credit shall be extended to Dealer at the time when Dealer presents a written request to Avangard for a specific vehicle or vehicles and Avangard approves such request for the specific vehicle or vehicles and
shall be for the full amount of the invoice per vehicle. 

  
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	2.	ACQUISITION FEE. Avangard shall charge Dealer an Acquisition Fee of Five percent (5.0%) of the total amount advanced from the line of credit amount
per every motor vehicle. This Acquisition Fee shall be prorated over a ninety (90) day period as specified below. The Acquisition Fee shall not, however, reduce the principal amount owed to Avangard by Dealer for that specific vehicle.

  

	3.	TERMS OF REPAYMENT. Dealer promises to repay to Avangard, the principal amount owed to Avangard, at the rate of Twenty percent (20.0%) per
year (APR), on the date the vehicle is sold by Dealer to Dealer’s customer, but not later than ninety (90) days from the date the Dealer received the line of credit loan from Avangard. 

 

	4.	NINETY DAY MAXIMUM ON LINE OF CREDIT. If the motor vehicle is not sold within ninety (90) days of the date of when Dealer received the specific Line of
Credit from Avangard, Dealer must nonetheless repay Avangard the principal amount owed under the Terms stated in this Agreement. If Dealer fails to repay the principal amount owed to Avangard as pursuant to the Line of Credit to Avangard within the
ninety (90) day period, then Dealer shall be in Default under the terms of this Agreement. 

  

	5.	QUICK SALE INCENTIVES. If Dealer repays the line of credit loan on a motor vehicle within thirty (30) days of the advance of the line of credit loan, there
shall be a reduction in the Acquisition Fee for that specific motor vehicle loan so that the Acquisition Fee shall be equal to 1.7% (and not the full 5.0%). If Dealer repays the line of credit loan on a motor vehicle between thirty-one and sixty
(31-60) days of the advance of the line of credit loan, there shall be a reduction in the Acquisition Fee for that specific motor vehicle loan so that the Acquisition Fee shall be equal to 3.33% (and not the full 5.0%). 

 

	6.	TITLE FEES. Dealer shall be solely liable for all costs associated with the title transfers and lien perfection. 

 

	7.	LATE CHARGE. Upon Default, Dealer shall have five (5) days to cure its Default. If Dealer fails to cure its Default, Dealer shall be charged a rate of one
percent (1%) per day late charge on the outstanding principal balance. 

  

	8.	OVERDRAW OF LINE OF CREDIT. If at any time, the Dealer shall have more than $250,000.00 Aggregate Amount outstanding, then Dealer shall repay, within seventy-two
(72) hours, the amount sufficient to reduce the Aggregate Amount outstanding to $250,000.00. 

  

	9.	 SECURITY INTEREST. As security for the line of credit, Avangard shall be listed and properly registered with the proper state authority, as the
first and primary lienholder on each vehicle for which Avangard shall extend the line of credit. Additionally, as security for the 

  
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payment of all indebtedness evidenced by this Agreement and any and all other indebtedness of the Dealer to Avangard in any capacity, now existing or hereafter incurred, however created or
evidenced, regardless of kind, class or form, whether direct, indirect, absolute or contingent, Dealer hereby grants and pledges to Avangard all of the Dealer’s assets currently owned or hereafter acquired, including but not limited to:
inventory, including all goods, motor vehicles, merchandise, supplies and other tangible personal property, now owned or hereafter acquired, all documents now and at any times covering or representing any of said property or assets, all of
Dealer’s accounts, accounts receivables, contract receivables, contract rights, notes, drafts, acceptances, instruments, chattel paper and general intangibles, and all guarantees and suretyship agreements relating thereto and all security for
payment thereof, now and hereafter existing or arising, as well as any profits now or hereafter acquired from or through any of the foregoing (hereinafter collectively referred to as “Collateral”). Collateral is defined herein to include
without limitation all tangible and intangible property of every description (including all additions, substitutions, and proceeds) to secure the obligations, or which is now or hereafter in possession or custody of or in transit to Avangard for any
purpose, and will also include any lien on property acquired at any time by the entry of judgment hereunder or the revival of or execution on said judgment. All Collateral is security for any and all obligations and the undersigned grants a security
interest in all Collateral to Avangard. 

  

	10.	U.C.C. SECURITY AGREEMENT. It is agreed that if any of the property herein is of a nature so that a security interest therein can be perfected under the Uniform
Commercial Code, this instrument shall constitute a Security Agreement and Dealer agrees and authorizes Avangard to execute any and all other instruments that may be required for the perfection and/or renewal of such security interest under the
Uniform Commercial Code. 

  

	11.	EFFECT OF GRANT. The pledge of Collateral granted to Avangard by Dealer hereunder shall not be rendered void by the fact that no obligations exist as of a
particular date, but shall continue in full force and effect until such a time, when parties agree to end this agreement. 

  

	12.	OBLIGATIONS SECURED. The Collateral and the continuing security interest granted therein shall secure all obligations. IT IS THE EXPRESS INTENTION OF DEALER THAT
THE COLLATERAL SHALL SECURE ALL RESPECTIVE EXISTING AND FUTURE OBLIGATIONS OF DEALER TO AVANGARD. 

  

	13.	 USE OF LINE AND ADVANCES. The line of credit under this Agreement shall be exclusively for the purpose of purchasing of specific motor vehicles,
as approved in writing by Avangard, in the ordinary course of Dealer’s business unless otherwise agreed to in writing by Avangard. Dealer agrees not to use the line of credit for any other purpose

  
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without the prior written approval of Avangard. The term “Line of Credit” as used in this Agreement shall mean the dollar amount loaned by Avangard for the purchase of a motor vehicle
and includes but is not limited to any charge against, debit against, draft against, or draw against the line of credit. 

  

	14.	PERSONAL GUARANTEE OF DEALER’S OWNER AND SPOUSE. The owner of Dealer and the owner’s spouse hereby agree to personally guarantee full, complete and due
performance by Dealer of all the provisions, conditions, warranties, covenants and agreements contained in this Agreement. If Dealer fails to perform any of its obligations contained in this Agreement, or breaches any provision thereof, then the
undersigned owner of Dealer and the owner’s spouse, do hereby undertake and guarantee to perform the obligations of Dealer under the this Agreement and will indemnify Avangard against all losses, damages, costs and expenses which may be
incurred and/or suffered by Avangard together with all charges legal fees or disbursements incurred by Avangard by reason of any default on the part of Dealer in performing or observing this Agreement. 

 

	15.	REMEDIES OF AVANGARD. Upon the occurrence of a Default, Avangard may accelerate the maturity of any or all obligations; whereupon such accelerated obligations
shall be immediately due and payable to Avangard. Furthermore, Avangard may, at its sole discretion, foreclose on any personal or real property that is pledged to Avangard under this Agreement. 

 

	16.	FINANCIAL STATEMENTS. Dealer agrees to furnish to Avangard, upon signing this Agreement, its most recent financial statements and tax returns. Furthermore,
Dealer’s owner and spouse must furnish to Avangard its most recent personal tax returns. 

  

	17.	ENTIRE AGREEMENT. The terms and conditions set forth herein contain the full and entire agreement between the parties regarding payments and supersede all prior
discussions, proposals, quotations and negotiations with respect to the subject matter hereof and shall not be modified or amended except by an instrument in writing signed by both parties. 

 

	18.	JURISDICTION, VENUE, AND GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH LAWS OF THE COMMONWEALTH OF PENNSYLVANIA AND
EXCLUSIVE VENUE FOR ANY AND ALL DISPUTES SHALL BE IN PHILADELPHIA COUNTY, PENNSYLVANIA. 

  

	19.	 CONFESSION OF JUDGMENT. Dealer hereby irrevocably authorizes and empowers the prothonotary or clerk or any attorney of any court of record to
waive the issuance and service of process and to appear for and confess judgment therein against Dealer and in favor of Avangard or any subsequent holder hereof at any time, whether or not the indebtedness

  
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evidenced hereby has matured (by acceleration or otherwise), for the full amount of the Principal Sum then due or that may become due hereunder, including but not limited to late charges and
interest accrued at the rate provided herein. And such confession shall be with all costs of suit and an attorneys’ commission in an amount equal to all attorneys’ fees incurred. Although the Dealer agrees that the confession may include
the amounts of the attorneys’ commission specified in the preceding sentence, Dealer reserves the right only to contest the collection by Avangard of any unreasonable attorneys’ fees. The authority and power to appear for and confess
judgment against Dealer shall not be exhausted by the initial exercise thereof and the same may be exercised from time to time, as often as Avangard shall deem necessary and desirable, and a copy of this Agreement shall be sufficient warrant.
Avangard may, in its sole discretion, exercise the authority contained herein against the Dealer at one and the same time or at different times. Such confession shall be with or without declaration or complaint filed, with release of errors, without
stay of execution. 

  

	20.	COLLECTION COSTS. In the event of default by Dealer, this Agreement may be turned over for collection and the Dealer agrees to pay all reasonable attorney’s
fees, court costs, collection, and enforcement charges to the extent permissible by law, in addition to other amounts due. 

  

	21.	JURY TRIAL WAIVER. The Dealer hereby waives any right to a trial by jury in any action, proceeding, claim, or counterclaim, whether in contract or tort, at law
or in equity, arising out of or in any way related to this Agreement. 

 WHEREFORE, the parties have
executed this Agreement as of the date set forth above. 
  

									
	ON BEHALF OF DEALER:	 		 		 	
	AUTOSOURCE ENTERPRISES, INC.	 		 	DEALER OWNER’S SPOUSE:
			
	 /s/ Boris Zelen
	 		 	  

	Boris Zelen, Owner	 		 	Owner’s Wife	 	
		 		 		 	Print Name:	 	  

				
	STATE OF	 		 	)	 	
		 		 		 	) SS	 	
	COUNTY OF	 		 	)	 	

 The foregoing instrument was acknowledged before me this      day of
            , 2012 by                     , who [    ] is personally
known or [    ] has produced                      as identification. 

  
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 WITNESS my hand and seal the day and year aforesaid. 

 

									
	[Notary Seal]	 		 		 	  

		 		 		 	Notary Public Signature
					
		 		 		 	Printed Name:	 	  

 PERSONAL GUARANTEE OF DEALER’S OWNER OF AGREEMENT 

BETWEEN AVANGARD AUTO FINANCE, INC. AND DEALER 
 I, Boris Zelen, residing at                     , am the majority owner of the Dealer referenced
herein (hereinafter Guarantor), and do hereby personally guarantee the performance of the Dealer, AUTOSOURCE ENTERPRISES, INC. (hereinafter “Dealer”), with regard to the Dealer Agreement (hereinafter “Agreement”) by
and between Avangard Auto Finance, Inc., and Dealer, dated                      (a copy of said Agreement is attached hereto).

 In the event that the Dealer fails to make any payment or transfer title to Avangard Auto Finance, Inc., or fails to perform in
any manner or provision with regard to said Agreement between the two entities, the Guarantor does hereby promise to make all payments to Avangard Auto Finance, Inc. in the same manner as if Guarantor was a party of said Agreement.

 And furthermore, the Guarantor does hereby authorize and empower any attorney of any court of record of the Commonwealth of Pennsylvania or
elsewhere to appear for and to enter judgment against me in favor of Avangard Auto Finance, Inc. for any sums due under the Agreement plus interest with costs of suit, release of errors, without stay of execution, and with attorney’s
fee, and the Guarantor hereby waives and releases all benefit and relief from any and all appraisement, stay or exemption laws of any state now in force or hereafter to be passed. 

  
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 IN WITNESS WHEREOF, this personal guaranty is entered into this      day of
            , 2012. 
  

					
	  
	 		 	  

	Boris Zelen, Owner	 		 	Date
			
	  
	 		 	  

	Signature of Wife	 		 	Date

  
 7Demand Promissory Note

 EXHIBIT 10.3 
 DEMAND PROMISSORY NOTE 
 THIS AGREEMENT, made this
15th day of February, 2012, by and between AUTOSOURCE ENTERPRISES, INC. (“Borrower”) having
his principal place of business at 7525 Frankford Avenue, Philadelphia, PA 19136; and AVANGARD AUTO FINANCE, INC. (“Bank”), a Company with its principal office located at 2708 Commerce Way, Suite 300,
Philadelphia, PA 19154. 
 INTENDING TO BE LEGALLY BOUND, and for value received, Borrower agrees as follows:

 1. OBLIGATION. Borrower promises to pay to the order of Avangard Auto Finance, Inc. (“Bank”), ON DEMAND, the
principal amount owed to Bank at the time of the Demand, up to but not more than Two Hundred and Fifty Thousand DOLLARS and Zero CENTS($250,000.00) together with interest accruing in arrears on the unpaid
principal balance from the date hereof at the rate of 20% per annum, payable as provided in the Floor Plan Agreement, and as evidenced by other Loan Documents. Interest shall be computed hereunder on the basis of a 360 day year
for the actual number of days elapsed. Any payments in excess of such maximum amount shall be refunded to Borrower or credited against the indebtedness owed hereunder at the discretion of Bank. All amounts payable hereunder are payable in lawful
money of the United States of America in immediately available funds. All payments shall be applied to the indebtedness evidenced hereby in the order determined by Bank. 
 2. PAYMENT SCHEDULE. Until demand, interest on the unpaid principal balance is due and payable as stated in the Floor Plan Agreement. 

3. SECURITY. As security for the payment of all Obligations (defined herein to include the indebtedness evidenced by this Note and any and
all other indebtedness of the Borrower to Bank in any capacity, now existing or hereafter incurred, however created or evidenced, regardless of kind, class or form, whether direct, indirect, absolute or contingent), Borrower hereby grants and
pledges to Bank all of the Debtor’s assets currently owned or hereafter acquired, including but not limited to: inventory, including all goods, motor vehicles, taxi medallions, merchandise, supplies and other personal and real property, now
owned 

  
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or hereafter acquired, all documents now and at any times covering or representing any of said property or assets, all of Borrower’s accounts, accounts receivables, contract receivables,
contract rights, notes, drafts, acceptances, instruments, chattel paper and general intangibles, and all guarantees and suretyship agreements relating thereto and all security for payment thereof, now and hereafter existing or arising, as well as
any profits now or hereafter acquired from or through any of the foregoing (hereinafter collectively referred to as “Collateral”). Collateral is defined herein to include without limitation all tangible and intangible property of every
description (including all additions, substitutions, and proceeds) as described in any document evidencing a security interest or other lien in favor of Bank to secure the Obligations, or which is now or hereafter in possession or custody of or in
transit to Bank for any purpose, and will also include any lien on property acquired at any time by the entry of judgment hereunder or the revival of or execution on said judgment. All Collateral is security for any and all Obligations and the
undersigned grants a security interest in all Collateral to Bank. 
 4. DEFAULT. The occurrence of any one or more of the
following events shall constitute a Default hereunder: (a) The failure of any Obligor (defined herein to include the Borrower and any other person or entity liable for the payment of all or any part of the Obligations as well as any other
person or entity granting Bank a security interest in property to secure all or any of the Obligations) to pay any Obligation when due (whether at the stated maturity, by acceleration, upon demand or otherwise), including without limitation
agreements, or there occurs any event or condition which after notice, lapse of time or after both notice and lapse of time will permit acceleration of any Obligation under the Floor Plan Agreement and/or any other Loan Document; (b) If any
representation, signature, warranty, certificate, opinion, financial statement or other information made or deemed made by any Obligor to Bank at any time in any Loan Document or otherwise shall prove to have been incorrect, incomplete, or
misleading in any material respect on or as of the date made or deemed made; (c) Any Obligor defaults in the performance of any obligation, term or condition of this Note or any other agreement with Bank or any of its affiliates or subsidiaries
(collectively, “Affiliates”); (d) The failure of any Obligor to pay when due (whether at the stated maturity, by acceleration, upon demand or otherwise) any indebtedness or obligation owing to any third party, the occurrence of any
event which could result in acceleration of payment of any such indebtedness or obligation or the failure to perform any agreement with any third party or any Affiliate; (e) If any Obligor shall terminate or disclaim, or attempt to terminate or
disclaim, such Obligor’s liability for all or a portion of the indebtedness evidenced by the Obligations; (f) If any Obligor shall in any material respect fail to comply with any statute, rule, regulation, ordinance, order, law or judicial
decree regarding said Obligor or any of his, her, or its property or assets; (g) The filing of bankruptcy, receivership or insolvency proceedings of any kind by or against any Obligor or the making by any Obligor of an assignment for the
benefit of creditors; (h) If any Obligor shall become insolvent or unable to pay debts as they mature; (i) The entry of a judgment against any Obligor which remains unsatisfied for a period of twenty days or the issuance of any execution,
tax lien, levy, attachment or garnishment proceeding against any property in which any Obligor has an interest; (j) The dissolution, merger, consolidation, reorganization, or change of control of any Obligor which is an organization, without
the prior written consent of Bank, or the death of any Obligor who is a natural person; (k) If any attachment, levy, garnishment or similar legal process is served upon Bank as a result of any claim against any Obligor or against property of
any Obligor; (l) If any Obligor shall fail to remit promptly when due to the appropriate governmental agency or authorized depository any amount due, including but not limited to any amount collected or withheld from any employee of any Obligor
for payroll taxes, social security payments or similar payroll deductions; (m) The sale of any secured collateral by an Obligor, without the prior written consent of Bank, or the condemnation of any secured collateral by any governmental
authority; (n) If Bank shall reasonably and in good faith determine that any collateral for the repayment of any Obligation is insufficient as to quality or quantity and the Borrower or any other Obligor shall fail, after notification by Bank,
to pledge, assign, or transfer to Bank such other additional collateral deemed satisfactory to Bank to secure the Obligations; 

  
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(o) Any change in the financial condition or business operation of any Obligor which causes Bank reasonably to believe that the performance of any of the obligations under this or any other
agreement with Bank is impaired or doubtful. Borrower understands and agrees that any reference herein to any Default is not intended in any way to diminish, alter, impair, limit or eliminate the ability of Bank to demand payment in full at any time
of the indebtedness evidenced by this Note. Borrower agrees that the election by Bank of any right or remedy provided to it upon the occurrence of any Default shall be conclusively presumed to be done in good faith by Bank notwithstanding any prior
course of dealing or otherwise, including without limitation the acceptance by Bank of any partial payments on the indebtedness evidenced by this Note or other Loan Documents. 
 5. REMEDIES OF BANK. Upon either (a) the occurrence of a Default, or (b) demand by Bank, Bank may at any time thereafter at Bank’s option without demand or notice to any Obligor
accelerate the maturity of any or all Obligations; whereupon such accelerated Obligations shall be immediately due and payable; provided, however, if the Default is based upon a bankruptcy or insolvency proceeding commenced by or against any
Obligor, all Obligations shall automatically and immediately be due and payable, and Bank may also and without demand or notice as to any Obligor exercise its right of set off and any other rights or remedies granted in any of the Loan Documents or
under applicable law against any Obligor, all of which remedies shall be cumulative. No delay or failure by Bank in exercising any of its rights or remedies hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any
right or remedy hereunder preclude any other or future exercise of any other right or remedy. Bank shall not be required to marshal any Collateral or guaranty or to resort to same in any particular order. Following maturity (whether by acceleration,
upon demand or otherwise) of the indebtedness evidenced by this Note or after the entry of judgment, interest under this Note shall be payable upon demand and shall accrue on the principal balance due hereunder (and without limitation on any portion
of the Obligations that may be paid in any plan of reorganization) at a rate 3% above the rate stated above. Absent the written agreement of Bank to the contrary, the acceptance by Bank of partial payments after the maturity of the indebtedness
evidenced by this Note shall not be deemed a waiver by Bank of its right to be paid immediately all sums due hereunder in full. Borrower shall pay to Bank upon demand all costs of suit and other collection expenses, including without limitation all
title search, title insurance, and appraisal costs, and all attorneys’ fees and other costs incurred by Bank, whether before or after the entry of a judgment, as a result of any negotiations or proceeding, whether in bankruptcy or otherwise,
involving any Obligor or any Collateral. Bank may also refuse to make any further advances in regard to any Obligation and may terminate any commitment to make an advance under any Obligation. 

6. MISCELLANEOUS. Each of the provisions hereof shall apply to this Note, to any extensions or modifications hereof and to the indebtedness
evidenced hereby, except as otherwise expressly stated herein or in a separate writing signed by Bank and Borrower. Borrower hereby waives presentment for payment, demand, protest, notice of protest and dishonor and all other notices or demands in
connection with the delivery, acceptance, performance, default or enforcement of this Note. The liability of Borrower hereunder shall be unconditional without regard to the liability of any other party and shall not be in any manner released or
otherwise affected by (a) any indulgence, extension of time, compromise, renewal, release, satisfaction, waiver or modification granted or consented to by Bank involving any Obligor or Collateral or (b) the failure of any Obligor to sign
any document evidencing any Obligation or the failure of Bank to perfect any security interest or lien in any Collateral. Bank shall not by any act or omission or under any circumstances be deemed to have waived any of its rights other than any
rights waived by Bank in writing. Any reference herein to Borrower shall be deemed to refer to and be applicable to each signer separately as well as all of them jointly. Bank is hereby authorized, without further notice, to obtain the signature of
additional co-makers and to date this Note as of the date on which the loan is made. The undersigned, if more than one, are jointly and severally liable. This Note has been delivered to and accepted by Bank in,

  
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and shall be governed by the laws of, the Commonwealth of Pennsylvania. All of the terms and provisions hereof inure to and are binding upon the heirs, executors, administrators, successors,
representatives, receivers, trustees and assigns of the parties. The invalidity or unenforceability of any portion hereof shall not affect the remaining portions hereof, and in the case of such invalidity, this Note shall be construed as if such
portion had not been inserted. In the event of any inconsistency between the terms of this Note and the terms of any other Loan Document evidencing or securing the indebtedness owed hereunder, the terms of this Note shall prevail. To the extent
permitted by law, this Note may not be prepaid except as agreed to in writing by Bank. To the extent that this Note represents a replacement, substitution, renewal or refinancing of a preexisting indebtedness evidenced by a note or other instrument,
such preexisting indebtedness shall not be deemed to have been extinguished hereby. Patriot Act Notice. To help fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify,
and record information that identifies each person who opens an account. For purposes of this section, account shall be understood to include loan accounts. 
 7. VENUE, AND EXCLUSIVE JURISDICTION. Borrower hereby consents to the exclusive jurisdiction of the Court of Common Pleas of Philadelphia County, Pennsylvania or the United States District Court
for the Eastern District of Pennsylvania in any legal proceeding involving, directly or indirectly, any matter arising out of or related to this Note, or any relationship evidenced hereby. Borrower submits and consents in advance to such
jurisdiction in any action or suit commenced in any such Court and waives any objection which Borrower may have based upon lack of personal jurisdiction or improper venue and consents to the granting of such legal or equitable relief as is deemed
appropriate by such court. Borrower waives personal service of the summons, complaint and any other process issued in any such action or suit and agrees that service of such summons, complaint, and any other process may be made by mailing a copy
thereof, by registered or certified mail, postage prepaid, to Borrower. Nothing in this Note shall be deemed or operate to affect the rights of Bank to serve legal process or to bring any action permitted by law against any Obligor or involving any
Collateral in the appropriate court of any other appropriate jurisdiction or forum. 
 8. WAIVER OF JURY TRIAL AND OTHER DAMAGES. The
Borrower irrevocably waives, and Bank by its acceptance hereof thereby waives, any right or claim to a trial by jury in any legal proceeding involving, directly or indirectly, any matter (whether sounding in tort, contract, or otherwise) in any way
arising out of or related to this Note or any other Loan Document. The Borrower represents and warrants that no representative or agent of the Bank has represented, expressly or otherwise, that the Bank will not, in the event of litigation, seek to
enforce this jury trial waiver. The Borrower further waives any right it may have to claim or recover, in any such suit, action or proceeding, any special, exemplary, punitive or consequential damages or any damages other than, or in addition to,
actual damages. This provision is a material inducement for Bank to provide the financial accommodations evidenced hereby. 
 9.
CONFESSION OF JUDGMENT. Borrower hereby irrevocably authorizes and empowers the prothonotary or clerk or any attorney of any court of record to waive the issuance and service of process and to appear for and confess judgment therein against Borrower
and in favor of Bank or any subsequent holder hereof: (a) at any time, whether or not the indebtedness evidenced hereby has matured (by acceleration or otherwise), for the full amount of all Obligations due or that may become due hereunder,
including but not limited to late charges and interest accrued at the rate provided herein; and (b) upon the occurrence of a Default hereunder, in an appropriate action of replevin to obtain possession of the Collateral, including all books and
records pertaining to the Collateral. And such confession shall be with all costs of suit and an attorneys’ commission in an amount equal to all attorneys’ fees incurred but in no event less than the greater of ten percent (10%) of
the full amount 

  
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confessed hereunder or $1,000. Although the Borrower agrees that the confession may include the amounts of the attorneys’ commission specified in the preceding sentence, Borrower reserves
the right only to contest the collection by Bank of any unreasonable attorneys’ fees. The authority and power to appear for and confess judgment against Borrower shall not be exhausted by the initial exercise thereof and the same may be
exercised from time to time, as often as Bank shall deem necessary and desirable, and a copy of this Note shall be sufficient warrant. Bank may, in its sole discretion, exercise the authority contained herein against one or more Borrowers at one and
the same time or at different times. Such confession shall be with or without declaration or complaint filed, with release of errors, without stay of execution, and Borrower waives the right of inquisition on any real estate levied upon pursuant to
the provisions hereof, and does hereby voluntarily condemn same and authorizes the prothonotary to enter upon the writ of execution a voluntary condemnation, and further agrees that the real estate may be sold on a writ of execution with a waiver
and release of all relief from all appraisement, stay or exemption laws or rules of court, now in force or hereafter enacted or adopted. 

BORROWER: Autosource Enterprises, Inc. 
  

							
	Signature	 	 /s/ Boris Zelen
	 		 	
		 	Boris Zelen, Owner	 		 	
			
	STATE OF PENNSYLVANIA	 	)	 	
		 		 	)	 	
	COUNTY OF	 		 	)	 	

 Sworn to and subscribed before me by
                    , who is either known to me or has provided proof of identification this      day of
            , 2012. 
 NOTARY SEAL 

 

			
	  

	Signature of Notary Public
	
	My commission expires:
	  

  
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