Agreement to Extend Debt Payment Terms
WHEREAS the Creditor is a secured creditor of the Debtor, pursuant to ______________________________ [give the details of the security instrument(s) under which
the debtor’s indebtedness was incurred, such as the name(s) of the instrument(s), the date(s) of signing and the original loan amount(s)] (the “Security Instrument(s)”);AND WHEREAS the date by which the indebtedness is to be paid under the Security Instrument(s) is __________ [insert date] (the “Repayment Date”);
AND WHEREAS the Creditor has agreed to extend the Repayment Date and allow the Debtor additional time to repay its indebtedness under the Security Instrument(s) on
the following terms and conditions:
NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the mutual covenants and agreements contained in this Agreement and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties, the parties hereby agree as follows:
1. The Debtor and the Creditor acknowledge that...
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the debtor’s indebtedness was incurred, such as the name(s) of the instrument(s), the date(s) of signing and the original loan amount(s)] (the “Security Instrument(s)”);AND WHEREAS the date by which the indebtedness is to be paid under the Security Instrument(s) is __________ [insert date] (the “Repayment Date”);
AND WHEREAS the Creditor has agreed to extend the Repayment Date and allow the Debtor additional time to repay its indebtedness under the Security Instrument(s) on
the following terms and conditions:
NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the mutual covenants and agreements contained in this Agreement and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties, the parties hereby agree as follows:
1. The Debtor and the Creditor acknowledge that...
Read more