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Wheatbelt Inc. Phone: 816-243-8222 FAX: 816-243-8236 Email: info@wheatbeltinc.com |
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Thank you for your inquiry into Wheatbelt
Inc. What makes Wheatbelt different from
other distributors in the industry is that we specialize in the Retail Farm and
Home Market. Our programs are geared to the independent retailer who has his
special niche within the ag-area, in addition to those departments which make
up a complete retail source for hardware, automotive, clothing and
do-it-yourself supplies.
Wheatbelt is a stockholder-owned
distributor, which works primarily with drop ship programs direct to the
retailer. We supplement these drop ship
programs with redistribution centers and various stock items on a continuous
basis out of our warehouse. Being a
stockholder-owned company, we provide these programs at the most competitive
pricing available. We want you to be the profit center.
Our method of supplying these
programs and products to you, are through three buying shows a year. At these shows you have the opportunity to
purchase at special pricing with the savings passed through to you. We also make weekly mailings of special
promotions, and you have the ability to place orders direct with the
manufacturer at anytime during the year.
Please review the enclosed
application packet. We welcome your
questions and look forward to the opportunity to be associated with you in the
near future.
Thank you for your interest in
joining our Group. Please feel free to
contact me if you have any questions.
Sincerely,
WHEATBELT, INC.
Gary L. Mack
Chief
Operating Officer
GM/df
WHEATBELT INC.
JOINING FEE AND BUYING SERVICE FEE SCHEDULE
Single Store Schedule
A. Joining Fee
Total fee is $5,000. $2,000 is payable with the application and $1,000 payable annually for the succeeding three (3) years.
B. Stock Purchase
Each member store must purchase from Wheatbelt 210 shares of capital stock of the corporation at $10.00 per share for a total of $2,100.
C. Monthly Buying Service Fees
The current fees are $395 per month and the fees are billed to the member store on the monthly Wheatbelt statement.
Multiple Store Schedule
A. Joining Fee
Total fee is $5,000 for the initial store. Of the $5,000 for the initial store, $2,000 is payable with the application and $1,000 payable annually for the succeeding three (3) years.
B. Stock Purchase
Each member store must purchase from Wheatbelt 210 shares of capital stock of the corporation at $10.00 per share for a total of $2,100 per store.
C. Monthly Buying Service Fees
The current fees are $395 per month per store. In the event that satellite stores have Wheatbelt billings of less than $50,000 annually, the monthly fees are $195 per month for those stores. The fees are billed to the member store on the monthly Wheatbelt statement. If we do not have to generate a billing statement for the satellite stores, fee will be $55 per month.
Checklist of Requirements for Joining Wheatbelt
_____ 1.) A brief resume of previous experiences and future plans. Please give details of your specific skills that could help the group.
_____ 2.) Notification of the three closest Wheatbelt members. (Page 3)
_____ 3.) Minimum of 12,000 sq. ft. of selling floor area.
_____ 4.) Drawing to scale of your store, parking lot, warehouse, etc...(Pictures would be helpful )
_____ 5.) The last three years financial statements of all businesses which applicants are involved.
_____ 6.) Personal financial statements of each applicant.
_____ 7.) Certificate of insurance verifying inventory coverage.
_____ 8.) Certificate of insurance listing Wheatbelt as additional insured on the stores product liability insurance.
_____ 9.) Personal income tax forms for the last three years.
_____ 10.) Personal guarantee signed by all stockholders or principals and their spouses. (FormC)
_____ 11.) Percentage of ownership forms completed and notarized.
_____ 12.) Store information (Pages 1 & 2) completed.
_____ 13.) Irrevocable letter of credit from an approved bank. (Form D)
PAGE 1
WHEATBELT INC.
MEMBERSHIP APPLICATION
N M E S
Name: Business Name:
Address: Address:
Street: Street:
City: City:
State & Zip: State & Zip:
Home Phone: Business Phone: Business Fax:_____________________________
Date of Birth: Social Security Number:
Married: Children: Ages:
Wife's Name:
BUSINESS INFORMATION
Store
Location:
(City) (County) (State)
Population:
County Seat: (City) (County)
(Yes) (No)
Business operating since: Sales Tax Number:
List other buying groups you are affiliated with:
Name the three closest trading centers and distance from your store:
NAME POPULATION DIRECTION DISTANCE
____________________________
Name the businesses in town that you consider your competition:
PAGE 2
BUILDING INFORMATION
Overall Dimensions: Sales Area: Warehouse Area:
FINANCIAL INFORMATION
Amount of Inventory:
Do you have a Line of Credit:
If yes, Name of Bank:
Amount:
Contact:
Anticipated Amount of Purchases Through Wheatbelt:
Amount of Credit Requested from Wheatbelt:
Type of Organization: Corporate: Partnership: Sole Proprietor:
Corporations Only information: President:
Vice President:
Secretary/Treasurer:
Other Stockholders:
PLEASE PROVIDE THIS ADDITIONAL INFORMATION TO COMPLETE THE APPLICATION:
(See Forms Attached)
DONE
Notification of the nearest three Wheatbelt Stores.
Financial Statements for Past (3) three years.
Personal Financial Statement for Each Principal (Form A).
Personal Income Tax Return for Past (3) three years.
Complete Percentage of Ownership (Form B).
Complete Personal Guarantee (Form C).
Letter of Credit (Form D).
Payments - New Applicant - $4,100.00 - Broken down as follows:
$2,100.00 Stock - $2,000.00 Joining Fee
(2nd Store $3,100.00 - $2,100.00 Stock - $1,000.00 Joining Fee).
Balance of Joining Fee will be billed in
three annual payment
UCC Forms Signed (if Letter of Credit Not Available).
Certificate of insurance naming Wheatbelt as additional insured on store product liability coverage.
I HAVE ACKNOWLEDGED AND FULFILLED THE REQUIREMENTS ABOVE.
Owners Signature(s) Date:
PAGE 3
SAMPLE - USE YOUR OWN LETTER HEAD
To:
This is to notify you that we have applied for membership
to Wheatbelt Inc. If you have any
questions regarding this application please contact
_______________________________
At the following location:
CITY STATE TELEPHONE
If you have any further questions in regards to this
application please contact me as soon as possible:
Gary L. Mack
Wheatbelt Inc.
816-243-8222
fax: 816-243-8236
FORM B
PERCENTAGE OF OWNERSHIP
EXHIBIT D
Owners of record as of this
date and their amount of respective interest of ownership: (store name):
NAME SOCIAL SECURITY # PERCENT OF OWNERSHIP
(Signature)
FOR THE STORE LOCATION: (City and State)
NOTARIZED:
Subscribed and sworn before me this day of , 19 .
(NOTARY PUBLIC)
County, State of
My Commission Expires
(SEAL)
FORM C
GUARANTY
(Place)
(Date)
Wheatbelt, Inc.
RE: (Customer)
(Corporate Store Name)
Dear Sirs:
This will confirm the understanding between us.
1. OBLIGATIONS OF GUARANTOR. As an inducement to you to grant credit, or to assume credit risk, from time to time, in respect sales of goods made by you to the above Customer, or to participate in any other type of transaction by which you may become the creditor of the Customer or become obligated in any way for any indebtedness of the Customer to any supplier or other third party, the undersigned (if more than one, each to be jointly and severally liable hereunder) absolutely guarantees the performance by and the payment of all obligations and indebtedness of the Customer with respect to such transactions and the undersigned absolutely promises to pay to you forthwith when due, or upon demand thereafter, with interest and without deduction for any claim of set off or counterclaim of the Customer or loss of contribution from any co-guarantor, the full amount of all obligations or indebtedness due to you from the Customer, whether originating in transactions between you and the Customer, or obligations to third parties arising out of transactions with third parties or assigned or transferred to you, together with all expenses of collection and reasonable counsel fees incurred by you by reason of the default of the Customer.
2. TERM OF GUARANTY. This is continuing guaranty and shall be Revocable only as to transactions entered into subsequent to the actual receipt by one of your officers of notice of termination of the Guaranty sent by the undersigned by registered mail.
FORM C - PAGE 2
3. CONSENT AND WAIVER. The undersigned waives notice of acceptance hereof and notice of orders, sales and deliveries to the Customer and of the amounts and terms thereof, and of all defaults or disputes with the Customer and of the settlement or adjustment of such defaults or disputes. The undersigned, without affecting his liability hereunder in any respect, consents to and waives notice of all changes of terms, the withdrawal or extension of credit or time to pay, the release of the whole or any part of the indebtedness or obligations or any other guarantor thereof, the settlement or compromise of differences, the acceptance, liquidation or release of security, the acceptance of partial payments, notes, trade acceptances or any other form of obligation for the Customer's indebtedness, and the demand, protest and notice of protest of such instruments or their endorsements. The undersigned also consents to, in the event of receivership, liquidation, readjustment, bankruptcy, reorganization, arrangement or assignment for the benefit of creditors of the Customer; anything whatsoever, whether or not herein specified, which may be done or waived by or between you and the Customer or the Customer and any other person whose claims against the Customer have been or shall be assigned or transferred to you. The undersigned hereby waives and relinquishes any duty on the part of you to disclose to the undersigned any matter, fact or thing relating to the business, operation or condition of Customer and its assets now known or hereafter known by you during the life of this continuing guaranty. With respect to any indebtedness of Customer to you, you need not inquire into the powers of Customer or the officers, employees, representatives, owners, agents or other persons acting or purporting to act on Customer's behalf, and any indebtedness made or created in reliance upon the professed exercise of such powers shall be guaranteed hereunder.
4. CHARACTER OF OBLIGATION. The obligation of the undersigned is a primary and unconditional obligation and covers all existing and future indebtedness or other obligations of the Customer to you. This obligation shall be enforceable before or after proceeding against the Customer or against any security or other guaranty held by you, and shall be effective regardless of the solvency or insolvency of the Customer at any time, the enforceability of the indebtedness, the extension or modification of the indebtedness of the Customer by operation of law, or the subsequent incorporation, reorganization, merger of consolidation on the Customer, or any other change in the composition, nature, personnel or location of the Customer.
5. ACCELERATION OF LIABILITY. The undersigned agrees that, to the extent the under signer's obligations have not otherwise matured under the provisions of this Guaranty, all indebtedness of the Customer and the obligations of the undersigned to you shall mature immediately upon the insolvency of the Customer, the commission of any act of bankruptcy by the Customer, the appointment of a receiver for the Customer or any of its property, the filing of a voluntary or involuntary petition in bankruptcy, reorganization or arrangement, the making of an assignment for the benefit of creditors, or the calling of a meeting of creditors, or the calling of a meeting of creditors by the Customer.
FORM C - PAGE 3
6. CONSTRUCTION. Nothing herein contained shall be construed
as an obligation on your part to sell goods or extend credit to the Customer or
to enter into any other transaction with or on behalf of the Customer or as an
obligation to continue to sell goods or extend credit or to enter into any
other transactions with or on behalf of the Customer. Your records showing the
indebtedness of the Customer to you shall be admissible in evidence in any
action or proceeding
involving this guaranty and such records shall
be prima facie proof of the items therein set forth. This guaranty shall for all purposes be deemed to be made
in and shall be governed by the laws of
the State of
7. BENEFIT. This guaranty shall be binding upon the undersigned, his legal representatives and assigns, and shall insure to your benefit and to the benefit of your successors and assigns.
Yours very truly,
(BOTH PRINCIPALS JOINT PROPERTY
OWNERS MUST SIGN)
STATE OF )
COUNTY OF )
Subscribed and sworn before me this day of 19 .
(Notary Public)
County
State of
(SEAL)
My commission expires: .
FORM D
(SAMPLE OF BANK'S LETTER OF CREDIT)
----------BANK'S LETTERHEAD----------
DATE:
Mr. Gary Mack
% WHEATBELT INC.