☐ - Bi-Weekly basis beginning on __________________, 20____, in the amount
of $_________ to be paid every fourteen (14) days ending on
__________________, 20____ or when the Amount Owed is paid-in-full.
☐ - Weekly basis beginning on __________________, 20____, in the amount of
$_________ to be paid every seven (7) days ending on __________________,
20____ or when the Amount Owed is paid-in-full.
☐ - Other. _______________________________________________________.
d.) Payment Instructions. The Debtor is required to pay the Creditor under the following
V. LATE PAYMENT. Any partial or late payment under this Agreement shall: (check one)
☐ - Not be allowed and consider the Debtor in default.
☐ - Allow the Debtor to make payment within ____ days provided the Debtor pays a late fee of:
___________________________________________________________ (“Extension Period”).
If payment is not made within the Extension Period, this Agreement shall be in default.
VI. PREPAYMENT. The Debtor may: (check one)
☐ - Pre-pay the Amount Owed without penalty.
☐ - Not prepay the Amount Owed. If the Debtor decides to prepay the Amount Owed, the
Debtor shall pay the penalty of: __________________________________________________.
VII. CO-SIGNER. (check the appropriate box)
☐ - This Agreement shall not have a Co-Signer.
☐ - This Agreement shall have a Co-Signer known as __________________ hereinafter known
as the "Co-Signer” and agrees to the liabilities and obligations on behalf of the Debtor under the
terms of this Agreement. If the Debtor does not make a payment, the Co-Signer shall be
personally responsible and therefore is guaranteeing payment of the principal, late fees, and all
accrued interest under the terms of this Agreement.
VIII. DEFAULT. If for any reason the Debtor should not oblige to any section or portion of this
Agreement, the Debtor shall be considered in default. Under such an event, the remaining
balance of the Amount Owed shall be due within five (5) business days with the Debtor liable to
pay all reasonable attorney's fees and costs of collection of the Creditor. In addition, the Creditor
may reclaim any property or goods in connection with the Amount Owed, hold and dispose of
the same, and collect expenses, together with any deficiency due from the Debtor, subject to the
Debtor's right to redeem said items pursuant to law.
IX. GOVERNING LAW. This Agreement shall be governed by, and construed in accordance
with, the laws of the State of ___________________ (“Governing Law”).
X. SEVERABILITY. The unenforceability or invalidity of any clause in this Agreement shall not
have an impact on the enforceability or validity of any other clause. Any unenforceable or invalid
clause shall be regarded as removed from this Agreement to the extent of its unenforceability