CONTRACT

 

            This contract is entered into between Gregory Allen Daugherty, d.b.a. GPS Racing, Inc., hereinafter known as GPS, and                                                                    , hereinafter known as Customer.

 

Terms and Conditions

 

            The total contract price is $                                 (tax exemption no. is                                  ).  The 1^st payment of $                                   has been paid by the Customer to GPS on      /     /    .  The 2^nd payment of $                                shall be due and payable by the Customer to GPS on

     /     /     .  The 3^rd and final payment is due immediately upon completion and delivery of the vehicle [see section, Time (Completion Date) below].  All final payments shall be in the form of cash, certified check, or cashier’s check.  Any payment(s) made in cash totaling $10,000 or more are reportable to the Internal Revenue Service.

 

Labor and Materials

 

            GPS shall furnish all materials and labor as set forth in the attached specification order and in accordance with the following terms and conditions.

 

Changes or Additions to Order

 

            Any changes or additions requested by the Customer shall be in writing and agreed to by the Customer and GPS.  Any additional charges for the requested changes or additions shall be paid at the time the requested change or addition is agreed to by the parties.  (For changes or additions, see Attachment, “Parts List”)

 

Special Parts

 

            Any and all parts that are to be supplied by the Customer shall be paid for by the Customer separate from the terms negotiated in this contract and any delays caused by said supplied parts shall be solely the responsibility of the Customer.

 

Time (Completion Date)

 

            If a completion date is given by GPS, the Customer understands that this is an estimated completion date and that no guarantee is made that the work indicated in this contract will be completed by said date (Estimated Completion Date      /     /     ).  GPS is not responsible for any delays that are caused by additions or changes requested by the Customer, unforeseen events, or circumstances beyond the control of GPS.

 

 

 

No Warranties

 

            The Customer acknowledges that the intended use of this vehicle is for automotive racing competition and that such intended use creates excessive strain and stress on the vehicle and that  GPS gives no warranties against structural failures, mechanical breakdowns, and the Customer waives any rights and claims that he may have both now or in future for holding GPS its agents, servants, predecessors, and assigns and any corporation acquired by, associated with, or affiliated with GPS from any and all claims, actions, causes of action, demands, rights, damages, cost, expenses, or compensation whatsoever including, without limitation, claims for general and special compensatory damages and punitive damages, whether known or unknown, foreseen or unforeseen at the time the parties entered into this contract, including all claims in tort or contract and any other claim that the Customer may allege to have.  The Customer has further inspected the vehicle before delivery and is familiar with the requirements involved and understands that this vehicle is not guaranteed to meet any specific class requirements.

            Furthermore,GPS is not responsible for fire, theft, or other damage to the vehicle while vehicle is stored at GPS unless it is caused by the negligence of GPS.

            Furthermore, the Customer, the Customer’s driver, or any other person using, working on, or associated with said vehicle accepts all of the hazards and risks relating to the operation of this vehicle and the Customer hereby assumes responsibility for third party claims and GPS from any and all claims of liability relating to the operation and repair of said vehicle and shall further hold GPS harmless against any third party claim, and agrees to indemnity GPS of any third party claims that are made against GPS resulting from the operation or use of this car or its failure.

 

Finality of Contract

 

            The Customer declares and represents that no promise, inducement, or agreement not herein expressed has been made to the Customer and that this contract contains the entire agreement between the parties hereto, and that the terms of this contract are final.

There shall be no changes to the terms and conditions of this contract unless same is in writing and by agreement of both parties.

The Customer has read this contract in its entirety, and has been afforded the opportunity to consult with counsel with respect thereto and understands this contract fully.

 

 

                                                                                                           

Customer’s Signature                                 Date

 

                                                                                                           

Customer’s Printed Name

 

                                                                                                           

Address

 

                                                                                                           

City, State                                             Zip Code

 

                                                                                                           

Area Code/Telephone Number

 

                                                                                                           

Gregory Allen Daugherty (d.b.a., GPS Racing, Inc.)