Consignment Agreement - Deborah Ballew
This Consignment Agreement (this "Agreement") is made effective as of May 2, 2025 between Deborah Ballew, of 12025 Silver Sun Dr, Oklahoma, OK , referred to (“The Consignor”) and Lock It Up Safes, of 716 W. 15th Street, Edmond, Oklahoma 73013.
The parties agree as follows:
RIGHT TO SELL. The Consignor legally owns a Champion Estate 10 with a serial number of ES09M071422-21 ("Consigned Safe"). In accordance with this Agreement, The Consignor grants Lock It Up Safes an exclusive right to sell the Consigned Safe under the terms of this Agreement. Lock It Up Safes agrees to devote its best efforts to the sale of the Consigned Safe. All sales prices and terms of sale shall be determined by mutual consent of the parties. The Consignor also certifies that he or she is the true owner of the Consigned Safe, has the right to sell the Consigned Safe, and has no lines or debt owned on the Consigned Safe.
PRICING. The Consigned Safe shall be priced no higher than $1100 and cannot be sold no lower than $900without prior authorization from The Consignor. The Consignor also allows the discounted rate of 5% for Lock It Up Safes Hero Discount for military families and emergency services. This discount will be split 50/50 on the final payout to The Consignor. All sales tax, and delivery fees will be retained by Lock It Up Safes.
PROCEEDS OF SALE. Lock It Up Safes will pay to The Consignor a portion of the sales proceeds which shall be calculated as follows: 60 percent of the proceeds from the sale of the Consigned Safe which includes the delivery fees associated with picking up the safe from its original location and relocating it to Lock It Up Safes (unless otherwise paid in advance for). The amount determined in the previous sentence shall be paid to The Consignor via company check within 30 days of the Consigned Safe Selling.
TITLE TO MERCHANDISE. Consigned merchandise shall remain the property of The Consignor until sold.
LOSS AND INSURANCE. Lock It Up Safes shall be responsible for all shortages, loss, or damage, while the merchandise is under the control of Lock It Up Safes. Lock It Up Safes shall maintain insurance in adequate amounts to pay for replacement of the merchandise in the event of such shortages, loss, or damage.
WARRANTIES. Neither party makes any warranties with respect to the use, sale or other transfer of the Consigned Safe by the other party or by any third party. In no event will The Consignor be liable for direct, indirect, special, incidental, or consequential damages, that are in any way related to the Consigned Safe.
ENTIRE AGREEMENT. This Agreement contains the entire agreement of the parties with respect to the subject matter of this Agreement and there are no other promises or conditions in any other agreement, whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties with respect to the subject matter of this agreement.
AMENDMENT. This Agreement may be modified or amended, if the amendment is made in writing and is signed by both parties.
APPLICABLE LAW. This Agreement shall be governed by the laws of the State of Oklahoma.
SIGNATORIES. This Agreement shall be signed by The Consignor and on behalf of Lock It Up Safes by Stephen Hall, CEO. This Agreement is effective as of the date first written above.
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Signed by Stephen Hall Signed On: May 2, 2025
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Document Name: Consignment Agreement - Deborah Ballew
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