1975 Sears Wishbook

Sears Revolving Charge Account and Security

Agreement

Sears. Roebuck and Co.

I agree to the following regarding all purchases made on my

Sears Revolving Charge Account and Security Agreement.

1.1

have the following options each monthly billing period.

(A) Iwill pay the entire New Balance wiihin

days of the

Billing Date shown on the monthly billing statement; or

(B) I will pay the deferred payment price for each pur–

chase consisting of the cash price and a

FINANCE

CHARGE.

(1)The

FINANCE CHARGE

will be computed upon

the

AVERAGE DAILY BALANCE

of my account in each

monthly billing period.

(a) The

AVERAGE DAILY BALANCE

is determined by

dividing the sum of the balances outstanding for

each day

the monthly billing period by the

number of days in the monthly billing period.

(b) The balance outstanding for each day of the

monthly billing period is determined by subtract–

ing payments and credits from the previous

day'sbalance excluding any purchases added to

the account during the monthly billing period

and excluding any unpaid

FINANCECHARGE.

(2) FINANCE CHARGE

will be determined by apply–

ing a periodic rate of

1.5%

per month

(ANNUAL

PERCENTAGE RATE of

18%)

to the

AVERAGE

DAILY BALANCE.

(3)When the

AVERAGE DAILY BALANCE

for a monthly

billing period is

$33.00

or less, the

FINANCE

CHARGE

for the billing period, at Sears option,w ill

50c

instead of the amount computed _above.

(4)

FINANCE CHARGE

will be assessed:

(a) In a monthly billing period during which

the~e

was no previous balance;

(b) In a monthly billing period during which pay–

ments and/or credits equal or exceed the previ–

ous balance;

FINANCE CHARGE;

(d) On purchases du'ring the monthly billing period

in which they are added to the account.

(5)

Iwill pay the deferred payment price for all purchas–

es in monthly payments within

days from each

monthly Billing Date according to the following

schedule of minimum payments and have the op–

tion of paying more than the minimum payment

each month:

lfthl New

11.i-is:

$ .01

$ 10.00

10.01 to 200.00

200.01 to 250.00

250.01 to 300.00

300.01 to 350.00

Balance

$10.00

15.00

20.00

25.00

tll•

lllew

Tiie

Ml.._

lllllMce

la:

~will

lie:

$350.01 to $400.00 $30.00

400.01 to 450.00

35.00

450.01 to 500.00

40.00

Over$500.00

1/10of

New Balance

(6) If I fa il to pay any minimum payment when d\,Je,

Sears may declare my entire balance due and pay–

able.

(7)

Sears shall reta in title to merchandise purchased

under this agreement until paid in full. Each pay–

ment shall be applied to merchandise and services

as follows: first to unpaid

FINANCE CHARGE;

then. as to items purchased on different dates, the

first purchased shall be deemed first paid. as to

items purchased on the same date. the lowest

priced shall be deemed first pa id.

(8)

I have the righttopaymyentire balance in full at any

time w ithout incurring a subsequent

FINANCE

CHARGE.

2. 1

agree that the

FINANCE CHARGE

and other credit

terms will be determined by the law of my State of Resi–

dence. If I change my State of Residence I wi ll inform

Sears, and Sears will provide me with a new agreement

containing the

FINANCE CHARGE

and other credit

terms applicable to my new State of Residence.

3. Sears is authorized to investigate my credit record and

report to proper persons and bureaus my performance of

this agreement.

Sears waives the right to reta in or to acquire any lien

arising solely by operation of law in real property used or

expected to be used as my principal residence. This

provision is not applicable to judgement liens.

NOTICETO BUYER:

(1)

Do not sign this contract before

you read it or if it contains blanks. (2) You areentitled to

a copy of this contract. Keep it to protect your legal

rights. (See NOTICE below.) (3) You have the right to

pay in advance the full amount due.

(CUSTOMER'S SIGNATURE)

ACCEPTED. SEARS. ROEBUCK AND CO.

NOTICE:

To open a new Sears Revolving Charge Account. residents of

Illinois, Kentucky

and Michigan

should read and sign the above agreement and return it to us together with the

completed credit application on the preceding page. When your application is accepted, we

will send you a copy of the agreement for you to keep.

Residents of other states should complete and return the credit application on the preceding

page. When your application is accepted, we will send you a copy of the agreement to sign

and return to us, together with a copy for you to keep.

278

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