Legal Release of Judgment

LEGAL RELEASE OF JUDGMENT

This Legal Release of Judgment (the "Release") is entered into as of by and between Judgment Creditor: with principal address at , and Judgment Debtor: with principal address at .

RECITALS

WHEREAS, on or about a judgment (the "Judgment") was entered in favor of Judgment Creditor and against Judgment Debtor in the matter captioned , Case No. in the (the "Court");

WHEREAS, the Judgment evidences an unpaid principal judgment amount of together with costs, interest and fees as set forth in the Court record; and

WHEREAS, Judgment Creditor and Judgment Debtor desire to fully and finally resolve, adjust and release the Judgment upon the terms and conditions set forth herein.

NOW, THEREFORE

In consideration of the mutual covenants and other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties agree as follows:

1. RELEASE

Upon satisfaction of the conditions set forth in Section 2, Judgment Creditor hereby irrevocably and unconditionally releases, remises and forever discharges Judgment Debtor, and each of their officers, agents, successors and assigns, from any and all claims, demands, causes of action, liabilities and obligations arising directly or indirectly from, or relating to, the Judgment, whether known or unknown, asserted or unasserted, by reason of the facts, acts or omissions existing as of the Effective Date of this Release.

2. CONSIDERATION; CONDITIONS

The release set forth in Section 1 is conditioned upon receipt by Judgment Creditor of payment in the total amount of (the "Consideration"), payable as follows: . Upon clearance of the Consideration, Judgment Creditor shall take the actions described in Section 3.

3. SATISFACTION AND CANCELLATION OF RECORD

Upon full receipt and clearance of the Consideration, Judgment Creditor will execute a formal Satisfaction of Judgment and will promptly file or record such satisfaction or cancellation with the clerk of the Court and with the official public record where the Judgment was docketed (Docket No.: ). Judgment Creditor shall deliver to Judgment Debtor a conformed copy of the recorded satisfaction within days after recording.

4. COVENANT NOT TO ENFORCE

From and after the Effective Date, and conditioned on Judgment Creditor's receipt of the Consideration, Judgment Creditor covenants and agrees that it shall not institute or take any action to enforce, execute upon, levy against, or otherwise collect upon the Judgment, provided that this covenant not to enforce shall not operate to bar any action for breach of this Release.

5. REPRESENTATIONS AND WARRANTIES

Each party represents and warrants that it has full authority to enter into this Release, that the individual executing this Release on its behalf is duly authorized, and that the execution and performance of this Release will not violate any agreement or obligation of such party. Judgment Creditor further represents that, except as disclosed in writing to Judgment Debtor prior to the Effective Date, Judgment Creditor has not assigned, transferred, or encumbered the Judgment.

6. INDEMNIFICATION

Judgment Debtor agrees to indemnify and hold harmless Judgment Creditor from and against any liabilities, claims, losses or expenses (including reasonable attorneys' fees) arising out of any breach by Judgment Debtor of any representation, warranty or covenant made in this Release, except to the extent caused by the bad faith or willful misconduct of Judgment Creditor.

7. FURTHER ASSURANCES

Each party shall execute and deliver such further instruments and take such further actions as may be reasonably necessary to effectuate the purposes and intent of this Release, including but not limited to executing and delivering a Satisfaction of Judgment when conditions in Section 2 are met.

8. NOTICES

All notices, requests, demands and other communications required or permitted under this Release shall be in writing and shall be delivered to the parties at the following addresses (or at such other address as a party may designate by notice in accordance with this Section):

9. GOVERNING LAW; JURISDICTION

This Release shall be governed by and construed in accordance with the laws of the State of without regard to its conflicts of laws principles. The parties submit to the exclusive jurisdiction of the state and federal courts located in for any action arising out of or relating to this Release.

10. ENTIRE AGREEMENT; SEVERABILITY

This Release constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written. If any provision of this Release is held invalid or unenforceable, the remaining provisions shall remain in full force and effect.

11. AMENDMENT; WAIVER

No amendment, modification or waiver of any provision of this Release shall be effective unless in writing and signed by both parties. A waiver of any breach or default shall not constitute a waiver of any other right or subsequent breach or default.

12. COUNTERPARTS; ELECTRONIC SIGNATURES

This Release may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Signatures delivered by electronic means shall be binding and have the same force and effect as original signatures.

13. ADDITIONAL TERMS

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