Legal Confession of Judgment Form

LEGAL CONFESSION OF JUDGMENT

This CONFESSION OF JUDGMENT (the Agreement) is entered into on by and between Creditor Name: whose principal place of business or address is Creditor Address: (hereafter "Creditor"), and Debtor Name: whose address is Debtor Address: (hereafter "Debtor").

RECITALS

WHEREAS, Debtor is presently indebted to Creditor in the principal sum of $ together with accrued interest, fees, and costs as of the date set forth above; and

WHEREAS, the parties desire to fix the respective rights and remedies of the parties in respect of such indebtedness by having Debtor confess judgment in accordance with the terms set forth below; and

WHEREAS, Debtor acknowledges the validity of the indebtedness and that this instrument is executed voluntarily after full knowledge of its legal consequences and subject to the terms herein.

NOW, THEREFORE, in consideration of the mutual covenants and promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. DEFINITIONS

For purposes of this Agreement, the following terms shall have the meanings set forth below. "Indebtedness" means the principal, interest, fees and costs owing from Debtor to Creditor as described in the Recitals. "Judgment" means any judgment entered by a court pursuant to the confession and authorization contained herein.

2. ACKNOWLEDGMENT AND AMOUNT OF DEBT

Debtor hereby expressly acknowledges and admits that Debtor is indebted to Creditor in the aggregate amount of $ as of the date of this Agreement, plus accruing interest at the rate of per annum and any permitted collection costs and attorneys' fees.

3. CONFESSION OF JUDGMENT

Debtor irrevocably authorizes and empowers Creditor, or Creditor's attorney, to appear in any state or federal court of competent jurisdiction at Creditor's election and to confess judgment against Debtor for the full amount of the Indebtedness as set forth in Section 2, together with interest, costs of suit, court filing fees, and reasonable attorneys' fees incurred in collection, without prior notice to Debtor, and without any further act or consent by Debtor.

Debtor expressly waives and relinquishes any right to assert any counterclaim, setoff, defense based upon statute of limitations, lack of jurisdiction, lack of notice, insufficiency of process, or any other defense with respect to the indebtedness to the extent permitted by law. Debtor further waives demand for performance, presentment, protest, notice of dishonor, and any requirement of judicial process or other process prior to entry of judgment.

4. AUTHORIZATION TO ENTER JUDGMENT

Upon Debtor's failure to pay the Indebtedness in accordance with any agreed payment schedule or upon occurrence of an Event of Default as defined herein, Debtor grants Creditor the right, at Creditor's sole discretion, to file this instrument or a certified copy hereof with the clerk of a court of competent jurisdiction and obtain an immediate and binding judgment against Debtor for the full amount of the Indebtedness, together with accrued interest, costs and attorneys' fees. Debtor acknowledges that such judgment may be entered without further notice or hearing.

5. PAYMENT TERMS AND DEFAULT

Payment Schedule: Debtor agrees to pay according to the following schedule or acknowledgment:

Event of Default: An Event of Default shall include Debtor's failure to make any payment when due, Debtor's insolvency, appointment of a receiver, bankruptcy filing by or against Debtor, or any material breach of this Agreement. Upon Event of Default, Creditor shall have the remedies set forth herein including immediate entry of judgment as provided in Section 4.

6. ATTORNEYS' FEES AND COLLECTION COSTS

Debtor agrees to pay all costs of collection, including reasonable attorneys' fees, court costs, filing fees, service fees and other expenses incurred by Creditor in enforcing this Agreement or collecting any amounts due, whether or not suit is instituted, and whether or not judgment is entered.

7. WAIVER OF RIGHTS AND REPRESENTATIONS

Debtor represents that Debtor has the full legal capacity and authority to execute and deliver this Agreement. Debtor acknowledges that Debtor has had the opportunity to consult with independent legal counsel of Debtor's choice and either has done so or knowingly and voluntarily waives that right. Debtor expressly waives jury trial, any right to stay execution, and any rights or defenses arising under any applicable laws except to the extent such waivers are unenforceable under applicable law.

8. NOTICES

All notices required or permitted hereunder shall be in writing and shall be delivered personally or sent by certified mail, return receipt requested, or by nationally recognized overnight courier to the addresses set forth above, and shall be deemed received upon delivery.

9. GOVERNING LAW; VENUE

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to conflict of law principles. Venue for any action to enforce this Agreement shall be in the state or federal courts located in the county where Creditor elects to file, to the extent permitted by law.

10. ENTIRE AGREEMENT; AMENDMENT; SEVERABILITY

This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings. No amendment, modification or waiver of any provision of this Agreement shall be valid unless in writing and signed by both parties. If any provision of this Agreement is held invalid or unenforceable, such invalidity shall not affect the remaining provisions, which shall remain in full force and effect.

11. COUNTERPARTS

This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Signatures delivered by electronic means shall be deemed original signatures for purposes of this Agreement.

12. ADDITIONAL ACKNOWLEDGMENTS

Debtor acknowledges that Debtor has read and understands the terms and legal effect of this Confession of Judgment and executes it voluntarily. Debtor further represents that no promise, representation, or inducement not set forth herein has been made to induce execution of this Agreement.

Debtor confirms that Debtor has been advised to seek independent legal counsel with respect to this instrument.

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