Legal Judgment Confession

LEGAL JUDGMENT CONFESSION

This Judgment Confession Agreement is made on this day: by and between Creditor Name: with mailing address (hereinafter "Creditor"), and Debtor Name: with mailing address (hereinafter "Debtor").

RECITALS

WHEREAS, Creditor asserts that Debtor is indebted to Creditor in the principal amount of $ for obligations arising under the obligation described as: ;

WHEREAS, Debtor acknowledges the existence of the indebtedness and agrees that entry of judgment may be entered against Debtor by Creditor in the amount specified herein in accordance with the terms of this confession; and

WHEREAS, the parties desire to set forth the terms on which Debtor voluntarily confesses judgment and waives certain defenses and rights to contest entry of judgment.

NOW, THEREFORE, in consideration of the mutual covenants and promises set forth below, the parties agree as follows:

1. CONFESSION AND ENTRY OF JUDGMENT

1.1 Confession of Judgment. Debtor hereby irrevocably and unconditionally confesses judgment in favor of Creditor in the sum of: $ (the "Judgment Amount"), together with interest, costs, and attorney's fees as set forth in this Agreement.

1.2 Scope of Consent. Debtor consents and authorizes Creditor to enter judgment in any court of competent jurisdiction located in the state of or such other venue as Creditor elects, without further notice or process and without trial. Debtor waives any right to notice of any proceedings solely to the extent necessary to effectuate entry of judgment pursuant to this instrument.

2. INTEREST, COSTS AND ATTORNEYS' FEES

2.1 Interest. From the date of entry of judgment, interest shall accrue on the Judgment Amount at the rate of % per annum, computed in accordance with applicable law, until paid in full.

2.2 Costs and Attorneys' Fees. Debtor agrees to pay reasonable costs of collection and attorneys' fees incurred by Creditor in enforcing this Agreement or collecting the Judgment Amount, whether or not suit is initiated. Such fees and costs shall be added to and become part of the judgment.

3. PAYMENT TERMS

4. WAIVER OF DEFENSES AND RIGHTS

4.1 Waiver. Debtor expressly waives all defenses, counterclaims, rights of set-off, and rights to trial by jury with respect to the indebtedness confessed by this Agreement and with respect to any action to enforce this Agreement or to collect the Judgment Amount, except as otherwise expressly provided herein.

4.2 Notice and Opportunity to Cure. Debtor acknowledges that Debtor has received adequate notice of the indebtedness and has had a reasonable opportunity to cure any default prior to executing this Agreement. Debtor further acknowledges the right to consult counsel and that execution of this instrument is voluntary.

5. REMEDIES

5.1 Enforcement. Creditor may, at its election, apply for entry of the confessed judgment in any court of competent jurisdiction and pursue all remedies available under applicable law to collect the Judgment Amount, interest, costs and attorneys' fees.

5.2 Cumulative Remedies. The rights and remedies of Creditor under this Agreement are cumulative and in addition to any other remedies available at law or in equity.

6. NOTICES

All notices, demands, or communications required or permitted under this Agreement shall be in writing and sent to the addresses set forth below or to such other address as either party may designate in writing:

7. REPRESENTATIONS AND WARRANTIES

7.1 Debtor Certification. Debtor represents and warrants that Debtor has full authority to execute this Agreement, that Debtor is legally competent, that no insolvency proceedings have been filed by or against Debtor that would invalidate or impair this confession, and that this Agreement constitutes a valid and binding obligation enforceable against Debtor.

7.2 Counsel and Advice. Debtor acknowledges having been advised of the right to obtain independent legal counsel and that Debtor has either obtained such counsel or knowingly declined to do so.

8. MISCELLANEOUS

8.1 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the state of , without regard to conflict of law principles.

8.2 Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous oral or written agreements and understandings.

8.3 Severability. If any provision of this Agreement is determined to be invalid, illegal or unenforceable in any respect, such invalidity shall not affect the validity or enforceability of any other provision, and the provision shall be reformed to the minimum extent necessary to make it enforceable.

8.4 Amendments; Waiver. No amendment to this Agreement shall be effective unless in writing and signed by both parties. No waiver of any provision shall be effective unless in writing and signed by the waiving party.

8.5 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument.

9. ACKNOWLEDGMENT AND CONSENT

Debtor affirms that Debtor has read and understands the terms of this Agreement, that Debtor knowingly and voluntarily executes this confession of judgment, and that Debtor knowingly waives any defenses as described herein. Debtor further acknowledges that Creditor is relying upon this confession in its dealings with Debtor.

Debtor acknowledges and consents to the confession of judgment, waiver of defenses, and the terms set forth in this Agreement.

NOTICES OF RIGHTS

Debtor understands that by executing this Agreement Debtor surrenders significant rights including, but not limited to, the right to contest the claims underlying the indebtedness and the right to a trial on those claims. Debtor further understands that entry of judgment may have legal and financial consequences, including enforcement remedies available to Creditor.

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