Subject to the terms set forth below, Fikes Wholesale, Inc. (“Fikes”) will offer to provide financing on select sites currently available for sale on the NRC website when the sites are purchased with a minimum ten (10) year fuel supply agreement with Fikes, or its affiliate. Financing will be provided only to qualified buyers at Fikes’s sole discretion and buyers must complete and submit a credit application and meet Fikes’s credit requirements in order to qualify. Each loan on a fee site will be secured by a first mortgage on the site, personal guarantees and such other collateral as may be required. Each loan for a leased site will include a subordination non-disturbance and attornment agreement from the fee owner, a subordination non-disturbance and attornment agreement from the fee owner’s lender, if required, personal guarantees and such other collateral as may be required. Additional guaranties and security may be required after review of buyer’s credit application. All loans shall be cross-defaulted and cross-collateralized with all other Related Party Obligations, if any, as defined in the Agreement.
Fikes is offering two different financing packages for 5-year mortgage loans under the following terms:
Plan A –20% cash down payment, 8.9% interest per annum, monthly principal and interest payments with the amount of the monthly payments of principal based upon a 20-year amortization schedule. A balloon payment of all outstanding principal and interest and any other amounts due under the loan documents, if any, is due at the end of year 5 of the loan. A monthly real estate tax and insurance escrow may be required.
Plan B – 30% cash down payment, 8.25% interest per annum, monthly principal and interest payments with the amount of the monthly payments of principal based upon a 20-year amortization schedule. A balloon payment of all outstanding principal and interest and any other amounts due under the loan documents, if any, is due at the end of year 5 of the loan. A monthly real estate tax and insurance escrow may be required.
Contact the NRC sales team at 800.747.3342 ext. 1818 for more information.