Case No.: 05-12611-MAM-13.United States Bankruptcy Court, S.D. Alabama.
September 8, 2005
AGREED ORDER CONDITIONALLY DENYING MOTION FOR RELIEF FROM STAY
MARGARET MAHONEY, Bankruptcy Judge
This matter came before the Court on August 24, 2005 on a Motion for Relief from Automatic Stay filed by Green Tree — AL LLC (“Green Tree”). Patrick Reynolds (“Debtor”), through counsel, agrees that Green Tree’s request for relief from stay is due to be DENIED at this point. This denial is conditioned on the Debtor’s timely payment of regular monthly mortgage payments as required under the Retail Installment Contract and Security Agreement (“Contract”) (including principal, interest and insurance).
It is ORDERED that:
1. The Debtor will include in his plan $1,279.11, which is comprised of the arrearage of payments through the month of August 2005, and $475.00 for reasonable attorney’s fees and costs incurred by Green Tree in filing this motion, and Green Tree will be allowed to file a secured claim for this amount by consent of the parties.
2. The Debtor will also resume making regular monthly mortgage payments (including principal, interest and insurance) as provided for in the Contract beginning with September 2005 payment direct to Green Tree.
3. Beginning with the September 2005 payment, in the event the Debtor fails to make any payment of principal, interest or insurance as described in the preceding paragraphs of this Order by failing to make a regular monthly mortgage payment on the date it comes due per the terms of the Contract, then Green Tree will send a letter to the debtor, with a copy to debtor’s attorney, notifying them of the default and if the debtor fails to cure the default within fifteen (15) days of the date of the notice of default letter, then relief from the automatic stay is herebyGRANTED, Green Tree,
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without further order of this Court, shall be entitled to reduce its claim(s) in the bankruptcy case, accelerate the balance due, and foreclose and/or repossess its collateral, one (1) 1994 Chandeleur 16×80 Mobile Home, SN: CH1AL07426 including any and all accessories, furniture, fixtures and appliances as provided for in the Contract and as provided for by applicable state law.
4. If the Debtor defaults and Green Tree is granted relief from the automatic stay under the terms of this Order, the stay SHALLNOT remain in effect for an additional ten (10) day period pursuant to Rule 4001 (a) (3), and Green Tree shall be entitled to immediately repossess and/or dispose of its collateral.
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