Terms & Conditions
This application, along with these credit terms and conditions, financial statements and other documents (Documents) are submitted by Applicant to
Heartland Rail, LLC and its related businesses whether wholly-owned or in which Heartland Rail has an ownership interest for the sole purpose of
obtaining credit from Heartland Rail, LLC. Upon approval of Applicant’s credit, the documents set forth the entire agreement between Applicant and
Heartland Rail regarding the matters described herein and therein, and supersede all prior oral or written agreement in respect thereof. In the event
that a sale was to an applicant in reliance on any misrepresentation made by such applicant, the amount owing from such sale is due immediately
If credit is extended to Applicant, Applicant may be required to periodically furnish to Heartland Rail current financial statements that are in reasonable
detail and certified as true and accurate on the date submitted by Applicant.
Applicant hereby consents to Heartland Rail, LLC use of non-business consumer credit report on the Applicant, if Applicant is a sole proprietorship,
in order to further evaluate the credit worthiness of the Applicant as principal(s), proprietor(s), and/or guarantor(s) in connection with the
extension of business credit. Applicant hereby authorizes Heartland Rail to utilize a consumer credit report on the Applicant from time to time in
connection with the extension or continuation of the business credit represented by this credit application. Applicant as (an) individual(s) hereby
knowingly consent(s) to the use of such credit report consistent with the Fair Credit Reporting Act as contained in 15 U.S.C Sec 1681 et seg.
No discounts are to be taken by Applicant on any invoice without prior written authorization of Heartland Rail, LLC.
Invoice terms are as stated on all invoices and lease agreements.
Accounts become delinquent when not paid within invoice terms. Delinquency charges/rate are stated on all invoices and/or in lease agreements. In
no event shall the rate exceed the maximum amount permitted under applicable law. The charges will be computed according to Applicant’s
delinquent balance and automatically added to the monthly statement. If no delinquency rate is stated on invoice or in lease agreement, the annual
delinquency rate shall be 18%.
Applicant agrees that venue shall be determined by Heartland Rail, LLC.
Heartland Rail, LLC reserves the right to revoke or suspend Applicant’s credit privileges at Heartland Rail, LLC sole discretion.
Credit will be terminated for accounts not active for two (2) consecutive years. At Heartland Rail, LLC sole discretion, failure to pay any invoice
when due may result in Heartland Rail LLC exercise of its remedies of default under lease agreement or in the termination of said credit with any
and all moneys outstanding, whether due or not, payable upon demand of Heartland Rail.
Any check, money orders, instruments tendered to Heartland Rail, LLC in full satisfaction of any disputed debts, shall be sent to:
Heartland Rail, LLC 1007 North Street, Columbia, Illionois 62236. No endorsement or statement on any check or any letter accompanying any
check shall be deemed binding on Heartland Rail, LLC or deemed an accord and satisfaction. Heartland Rail, LLC may accept a check or payment
from Applicant without prejudice to Heartland Rail, LLC right to recover the balance of any amounts owing by Applicant, and without limitation on
Heartland Rail, LLC right to pursue each and every remedy existing at law, in equity, by state or otherwise. Your account may be charged a fee
plus delinquency fee for processing each returned check or returned EFT draft.
Acceptance of any performance by Heartland Rail, LLC, after breach of these terms or any amended terms by Applicant, shall not act as a waiver
of any rights or remedies to which Heartland Rail would otherwise be entitled as a result of such breach.
At Heartland Rail, LLC option, if Applicant’s account becomes delinquent, Heartland Rail, LLC shall have the right, immediately and without further
notice to Applicants, to set off against Applicant’s account, all amounts owed to Applicant by Heartland Rail, LLC in any capacity.
The respective rights, obligations and liabilities of Applicant are binding on Applicant’s successors and assigns. Applicant shall give Heartland Rail,
LLC prompt notice of any change in Applicant’s form or structure.
Whether signed manually below or signed by electronic means, Applicant hereby certifies that the information given on the application is true to he
best of Applicant’s knowledge. Applicant authorizes release of all relevant information to Heartland Rail, including, but not limited to account information,
including open grain contracts and deliveries, financial disclosures, financial institution accounts, credit reports, or other similar credit resources.
Applicant acknowledges Heartland Rail is relying on the financial and other information provided by Applicant herein, in making its decision on
whether to extend credit to Applicant. Also, Applicant certifies that the credit will be used for commercial purposes only, and not for private,
individual purposes. Applicant acknowledges that the above terms represent contractual obligations to Applicant and Applicant agrees to pay the
delinquency charges and the terms contained herein, and further agrees to pay all costs of collection, including but not limited to, reasonable
attorney fees, court costs, restocking charges up to 10%, if applicable, and other associated expenses.