2-GOVT-MUNICIPAL_NOTICE_of_Security_Interest_Form_042725_RUSH.pdf

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Competitive Selection OH|DOT04426-6
Contract number
DOT04426-6
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Ohio

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This document is a Notice Regarding Security Interest and Payment of Purchase Price involving BMO Bank N.A. and Navistar Financial (collectively referred to as "Bank") and Rush Enterprises, Inc. and its subsidiaries ("Rush"). The notice outlines the financial arrangement for vehicle purchases, detailing the bank's security interest in vehicles sold by Rush on deferred payment terms.

The document specifies that the Bank has financed or will finance the acquisition of vehicles that Rush will sell to customers. The Bank maintains a security interest in each vehicle until the full financed amount is received. Customers may be required to pay the purchase price directly to the Bank, with any such payments being credited against the amount owed to Rush. The financial terms ensure that the Bank's security interest continues until the total financed amount for each vehicle is fully paid.

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Notice Regarding Security Interest and Payment of Purchase Price

1. BMO BANK N.A. or Navistar Financial (collectively, “Bank”) financed or will finance the acquisition of each vehicle that Rush Enterprises, Inc. and its subsidiaries (“Rush”) will in turn sell to you on deferred payment terms (“Vehicle”). Bank’s agreement with Rush requires that Bank’s security interest in each Vehicle continue until Bank receives the full amount that Bank financed for such Vehicle. Based on that agreement, your purchase of a Vehicle will be subject to Bank’s prior, unrelinquished security interest, which will continue until Bank receives the total amount that Bank financed for such Vehicle.

2. By written notice to you, Bank may require you to pay the purchase price for Vehicles directly to Bank. If you pay any portion of the purchase price for a Vehicle directly to Bank, Rush will credit such payment(s) against the amount you owe to Rush.

REV_042725

File details come from the government source that posted it. Updated .