Download Trust Receipt with Promissory Note - Principles Of Finance | FIN 330 and more Study notes Finance in PDF only on Docsity! TRUST RECEIPT WITH PROMISSORY NOTE DEALER NAME Brookside Recreational Vehicles The undersigned promises to pay on demand Eighty three thousand eight hundred and no/100 DOLLARS NOTE NUMBER 00615-0 With interest from date hereof at the rate of 10 % per annum, to the order of DATE October 5, 2005 The Fictional National Bank Murray, Kentucky 42071 and agrees in event of default to pay all expenses of collection, including reasonable attorney’s fees. This instrument, in addition to constituting a note of the undersigned to the above-named Bank, is a Trust Receipt by the undersigned, as Trustee, in favor of said Bank, as Entruster given in a Trust Receipt transaction pursuant to the uniform Trust Receipts Act. The note evidences monies given by the Bank to the Trustee for acquisition by the Trustee of the documents (if any) and goods herein-after described. If these goods are presently represented by documents, these documents are as follows: TRUSTEE’S VENDOR Winnebago RVs of Kentucky TYPE OF DOCUMENT Bill of Lading Warehouse Receipt DATE OF DOCUMENT October 5, 2005 and these documents are deliverable to the Trustee by the Bank to enable the Trustee to obtain possession of said goods to be held hereunder. The entrusting of these documents and the delivery of these goods to the Trustee are to give the Bank a security interest in the documents and goods as security for the indebtedness evidenced by the promissory note above. Until the note is fully paid, the goods listed below shall serve as a security interest for the indebtedness. SECURITY 1 YEAR 2005 MAKE Johnson Motor MODEL VX1 BODY TYPE N/A SERIAL NO. 334-017 MOTOR NO. 2285 DEALER COST $ 1,800 RELEASE PRICE $ 1,500 DATES MERCHANDISE CHECKED REMARKS INSURE FOR DATE PAID AMT PAID September 17, 2005 $1,800 $ $ $ $ $ $ 2 YEAR 2005 MAKE Winnebago RV MODEL A3 BODY TYPE W18 SERIAL NO. 515-774 MOTOR NO. 234-812 DEALER COST $ 61,000 RELEASE PRICE $ 55,000 DATES MERCHANDISE CHECKED REMARKS INSURE FOR DATE PAID AMT PAID September 17, 2005 $61,000 10/7/2005 $ 11,000 $ 44,000 $ $ $ $ 3 YEAR 2005 MAKE Brunswick Boat MODEL G5 BODY TYPE BTW SERIAL NO. 873-221 MOTOR NO. 10841 DEALER COST $ 21,000 RELEASE PRICE $ 18,000 DATES MERCHANDISE CHECKED REMARKS INSURE FOR DATE PAID AMT PAID September 17, 2005 $21,000 10/8/2005 $ 3,000 $ 15,000 $ $ $ $
