Accounts are due in full on the 10th day of each month for all invoices dated by the last day of the month. Any balance unpaid as of that date shall be a default on the terms hereof, shall bear interest at the rate of 18% per year until paid. All payments are first credit to any past due amounts. Payments will first be applied to any outstanding interest, attorney fees, or costs, then to principal. Loudoun Lumber Co., INC. is authorized to charge said account with all orders made by any representative of applicant or anyone presenting themselves as an agent of applicant, until such time as written notice to the contrary is given to Loudoun Lumber Co., INC. by applicant. Applicant shall pay 25% of total principal and interest owed as attorney fees for any amounts turned over to an attorney for collection, and shall pay all costs of collection. There will be handling charges of 10% on stock items and 25% on non-stock items for merchandise returned for credit. Loudoun Lumber Co., INC. may modify other terms of this credit account on 30 days written notice to the applicant. All the terms and conditions stated herein apply to all applicant's credit transactions from the date applicant signs this offer until Loudoun Lumber Co., INC. cancels this credit account. Such cancellation in no way affects applicant's obligation to pay all sums due pursuant hereto. Applicant represents and warrants that all information stated herein is true and accurate and that Loudoun Lumber Co., INC. may rely on said information, investigate said information or any other credit history of applicant, open this credit account and bind applicant to the terms and conditions stated herein. Applicant will be deemed in default if any payment due hereunder is not timely made, if any information given by applicant herein is not accurate, if applicant breaches any other terms hereof or of the credit account, dies or becomes insolvent. The terms hereof shall be governed by the laws of Virginia and any lawsuit enforcing said term shall be conducted in the appropriate court in Loudoun County. No modification or waiver of any of the terms of this offer/credit application shall be valid unless in writing and executed with the same formality as this offer/credit application. No waiver of any breach or default hereunder shall be deemed a waiver of any subsequent breach or fault. If any provisions of this offer/credit application shall be deemed by a court of competent jurisdiction to be invalid or enforceable, the remaining provisions shall nevertheless remain in full force and effect.
Applicant hereby appoints and authorizes Michael T. Hubbard as Attorney in fact to appear in the Office of the Loudoun County Circuit Court Clerk and confess judgment against applicant on any default by applicant on the terms hereof in the amount of principal, interest, attorney fees and costs owing. This judgment will be entered without any service of process on, or any other notice to applicant. Applicant waives the benefit of all homestead and other exemptions, and agrees that the judgment shall be a lien on any property owned by applicant immediately upon confession. This power of attorney shall not terminate upon my disability.
