Fill and Sign the Creditors Debtor Form

Agreement between Creditors and Debtor for Appointment of Receiver Agreement made ________________ (date) , between ________________ (Name of Debtor) , of _______________________________________________ (street address, city, state, zip code) , hereinafter called the Debto r, and ________________ (Name of Creditor One) of ____________________________ (street address, city, state, zip code) , ________________ (Name of Creditor Two) of ________________________________________________ (street address, city, state, zip code) , and ________________ (Name of Creditor Three) of ____________ ______________________________ (street address, city, state, zip code) , all of said Creditors collectively called the Creditors. 1. Appointment of Receiver In consideration of Creditors' promise to refrain for a period of _______ (number) days from the date of this Agreement from enforcing by lawsuit or judicial sale of Debtor's property, real and personal, any lien now existing or later to be acquired, Debtor agrees that effective ________________ (date) , ________________ (Name of Receiver) of ________________________________________ (street address, city, state, zip code) , may and shall be appointed Receiver ________________ (the Receiver ) to __________________________________________________________ (state purpose for Receivership) . It is understood that at any time after the date mentioned above, any Creditor who is a party to this instrument shall have the right to enforce _____ (his or her or its) liens and expose to sale the real and personal property of Debtor located in ______________ (Name of County) , _______________ (Name of State) , described as follows: _____________________________________________________________________ (describe Debtor's property subject to Creditors' liens) . 2. Duties of Receiver; Compensation The duties and obligations of the Receiver appointed by this Agreement shall be as follows: __________________________________________________________ (e.g., to collect rents, profits and other income, to pay taxes and other expenses, and to pay lien creditors according to priorities) . For performance of such duties, Receiver shall be compensated as follows: ________________________________ (describe) . 3. When Agreement Becomes Effective This Agreement shall not become effective until all the creditors of Debtor, whose names and addresses, along with the amount of indebtedness involved, are set forth in Exhibit A , attached to this Agreement and incorporated by this reference, become parties to this Agreement. Witness our signatures this the ____ day of _______________, 20____. _________________________ _________________________ (Printed Name of Debtor) (Printed Name of Creditor One) _________________________ _________________________ (Signature of Debtor) (Signature of Creditor One) _________________________ __________________________ (Printed Name of Creditor Two) (Printed Name of Creditor Three) _________________________ _________________________ (Signature of Creditor Two) (Signature of Creditor Three)