Difference between revisions of "Mill Cash Advance Agreement"
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Tucker may only agree to purchase a mill if he previously obtained a shipping quote or otherwise had an arrangement for transportation and reasonably believes the mill cost plus all shipping expenses and supplies will not exceed $4000. | Tucker may only agree to purchase a mill if he previously obtained a shipping quote or otherwise had an arrangement for transportation and reasonably believes the mill cost plus all shipping expenses and supplies will not exceed $4000. | ||
| − | Should shipping expenses and supplies exceed $4000 due to unforeseen issues, circumstances, or events, PS:One will not be liable for | + | Should shipping expenses and supplies exceed $4000 due to unforeseen issues, circumstances, or events, PS:One will not be liable for such. |
Latest revision as of 00:53, 23 October 2013
The following is an agreement between Pumping Station: One, NFP (henceforth PS:One) and Tucker Tomlinson (henceforth Tucker).
PS1 advances Tucker the sum of four thousand dollars ($4000.00) for the purchase of a milling machine and shipping of that milling machine to PS:One pursuant to the member vote "Mill purchase" on October 15, 2013. Tucker acknowledges receipt of these funds in full on October 22nd, 2013.
Within one week of purchase of the mill, Tucker agrees to present PS:One with:
1. A written receipt for the mill provided by the seller, clearly indicating the purchase amount.
2. Written receipts for reasonable shipping expenses and supplies, if any.
3. The entirety of any funds remaining from the $4000 advanced after subtracting the expenses above.
Tucker agrees to be held personally responsible for returning all advanced funds to PS:One if a mill is not purchased, and personally responsible for returning all advanced funds less the purchase price of the mill and reasonable shipping expenses and supplies if a mill is purchased.
PS:One shall be deemed the owner of the mill upon completion of the purchase. All risk of loss, damage, or theft of the mill shall be borne by PS:One unless caused by Tucker's negligence, in which case it shall be borne by Tucker.
Tucker shall have authority to act as agent on PS:One's behalf in purchasing the mill and arranging shipping.
Tucker's authority to purchase the mill expires on 2/1/2014 or upon purchase of a mill or at the time a new budget is passed, whichever occurs first. Tucker shall repay the entirety of $4000 to PS:One within one week of this date if no mill was purchased by that date.
Tucker may only agree to purchase a mill if he previously obtained a shipping quote or otherwise had an arrangement for transportation and reasonably believes the mill cost plus all shipping expenses and supplies will not exceed $4000.
Should shipping expenses and supplies exceed $4000 due to unforeseen issues, circumstances, or events, PS:One will not be liable for such.