2. The printed portion of the contract shall be in at least eight point type. The contract shall contain printed or written in a size equal to at least ten-point bold type:

1. (a) Both at the top of the contract and directly above the space reserved for the signature of the buyer, the words "RETAIL INSTALMENT CONTRACT";
2. (b) A specific statement that liability insurance coverage for bodily injury and property damage caused to others is not included, if that is the case; and
3. (c) One of the following notices: "NOTICE TO THE BUYER: 1. Do not sign this contract before you read it or if it contains any blank space. 2. You are entitled to a completely filled in copy of this contract when you sign it. 3. Under the law, you have the following rights, among others: (a) To pay off in advance the full amount due and to obtain a partial refund of the credit service charge; (b) To redeem the property if repossessed for a default; (c) To require, under certain conditions, a resale of the property if repossessed. 4. According to law you have the privilege of purchasing the insurance on the motor vehicle provided for in this contract from an agent or broker of your own selection," or "NOTICE TO THE BUYER: 1. Do not sign this agreement before you read it or if it contains any blank space. 2. You are entitled to a completely filled in copy of this agreement. 3. Under the law, you have the right to pay off in advance the full amount due and under certain conditions to obtain a partial refund of the credit service charge. 4. According to law you have the privilege of purchasing the insurance on the motor vehicle provided for in this contract from an agent or broker of your own selection", or "NOTICE TO THE BUYER: 1. Do not sign this agreement before you read it or if it contains any blank space. 2. You are entitled to a completely filled in copy of this agreement. 3. Under the law, you have the right to pay off in advance the full amount due. If you do so, you may, depending on the nature of the credit service charge, either: (a) prepay without penalty, or (b) under certain circumstances obtain a rebate of the credit service charge. 4. According to law you have the privilege of purchasing the insurance on the motor vehicle provided for in this contract from an agent or broker of your own selection".

5. The contract shall contain:

1. (1) All items required to be disclosed by the act of congress entitled "Truth in Lending Act" and the regulations thereunder, as such act and regulations may from time to time be amended;
2. (2) The amount, if any, included for insurance, specifying and describing the coverages and the amount included for each type of coverage; however, if any insurance policy complies with the standard provisions form for automobile physical damage policy or any other automobile physical damage policy form which is equally or more favorable to the insured and which is filed with the superintendent of financial services, the contract need not contain a description of any type of coverage under such standard automobile physical damage policy form or a specification of the amount included in the contract therefor if it contains a specification of the type or types of coverage and the total amount included in the contract therefor.

6-a. If the buyer is obligated under the terms of a retail instalment contract to maintain insurance on the motor vehicle that is the subject of the contract and if subsequent to the execution of the contract the buyer fails to maintain the insurance, the holder may make advances to procure the equivalent limits of insurance for either the interests of the buyer and the holder or of either of them, and any amount so advanced may be the subject of a credit service charge from the date of such advance as though such amount was part of the amount computed as provided in the closing paragraph of subdivision one of section three hundred three of this article. Each amount so advanced shall be secured by the motor vehicle if so provided in the contract and if the holder notifies the buyer in writing of the advance of such amount and of his or her option to repay such amount in any one of the following ways:

1. (a) Full payment within ten days from the date of giving or mailing the notice;
2. (b) Full amortization during the term of the insurance or the remaining term of the contract, at the option of the holder;
3. (c) If offered by the holder, as a final balloon payment payable one month after the last scheduled payment under the contract;
4. (d) If offered by the holder, full amortization after the term of the contract, to be payable in instalments which do not exceed the average instalment payable under the contract; or
5. (e) If offered by the holder, any other amortization plan. If the buyer neither pays in full the amount so advanced nor notifies the holder in writing of his or her choice regarding amortization options before the expiration of ten days from the date of giving or mailing of the notice by the holder, the holder shall amortize the amount so advanced pursuant to paragraph (b) of this subdivision.

9.

1. (a) No retail instalment contract shall contain any provision by which the buyer agrees not to assert against an assignee a claim or defense arising out of the sale or require or entail the execution of any note or series of notes, which when separately negotiated will cut off as to third parties any right of action or defense which the buyer may have against the seller. The assignee of a retail installment contract or obligation shall be subject to all claims and defenses of the buyer against the seller arising from the sale notwithstanding any agreement to the contrary, but the assignee's liability under this subdivision shall not exceed the amount owing to the assignee at the time the claim or defense is asserted against the assignee.
2. (b) Limitations on assignee liability referred to in paragraph (a) of this subdivision shall be exclusive of any reasonable costs and attorney's fees the court may award.

13. No retail instalment contract shall contain any provision by which:

1. (a) in the absence of the buyer's default, the holder may, arbitrarily and without reasonable cause, accelerate the maturity of any part or all of the amount owing thereon;
2. (b) a power of attorney is given to confess judgment in this state, or an assignment of wages is given;
3. (c) the seller or holder of the contract or other person acting on his behalf is given authority to enter upon the buyer's premises unlawfully, or to commit any breach of the peace in the repossession of the motor vehicle;
4. (d) the buyer waives any right of action against the seller or holder of the contract, or other person acting on his behalf, for any illegal act committed in the collection of payments under the contract or in the repossession of the motor vehicle;
5. (e) the buyer executes a power of attorney appointing the seller or holder of the contract, or other person acting on his behalf, as the buyer's agent in collection of payments under the contract or in the repossession of the motor vehicle; provided, however, that this paragraph shall not prohibit the inclusion in a retail instalment contract of a limited power of attorney or other provision authorizing the holder to execute in the name of the buyer any proofs of insurance claims or losses or to endorse the name of the buyer on any insurance settlement draft or check;
6. (f) the seller is relieved from liability for any legal remedy which the buyer may have had against the seller under the contract, or any separate instrument executed in connection therewith;
7. (g) the maturity of any part or all of the amount owing thereon is accelerated where, following a default consisting solely of the failure to make timely instalment payments and the subsequent repossession of the motor vehicle, the buyer makes timely tender of an amount which would be sufficient to redeem the vehicle in the absence of such provision;
8. (h) the buyer waives any right to a trial by jury in any action or proceeding arising out of the contract.