NO. _____________________
IN THE MATTER OF ' IN THE DISTRICT
COURT
THE MARRIAGE OF '
' OF _______________ COUNTY, TEXAS
_______________________ '
AND '
_______________________ ' _______ JUDICIAL
DISTRICT
AGREED DECREE
On the _____ day of __________, 20___ the above-entitled and numbered cause came
on for consideration and hearing before this Court.
I.
Parties and Appearances
Petitioner, ____________________________, Social Security Number
_________________, appeared in person and through attorney of record,
_____________________, and announced ready for trial.
Respondent, _________________________, Social Security Number
_________________, has made a general appearance and has agreed to the terms of this
judgment to the extent permitted by law, as evidenced by the signature of Respondent appearing
below.
I.
Record
A record of the testimony was duly reported by the Court’s authorized Court Reporter.
III.
Jurisdiction and Domicile
The Court finds that all pleadings are in due order and contain all the allegations,
information, and prerequisites required by law, that all necessary resident qualifications and
prerequisites of law have been legally satisfied, that this Court has jurisdiction of all the parties
and the subject matter of this cause, that at least sixty (60) days have elapsed since the date suit
was filed, that Petitioner was a domiciliary of the State for at least a six (6) month period
preceding the filing of this action and a resident of the County in which the suit is filed for at
least a ninety (90) day period preceding the filing of this action. All persons entitled to citation
AGREED DECREE OF DIVORCE
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were properly cited, or otherwise appeared.
IV.
Jury
A jury was waived, and all questions of fact and of law were submitted to the Court.
V.
Agreement of the Parties
The parties then announced to the Court that in order to conserve time and save litigation
costs they have compromised and made agreements with respect to the final disposition of their
property herein and request the Court to approve their agreements and make them effective by
order of this Court. The Court finds that the parties have consented to the terms of this Decree
and have stipulated that it is a contract, and that it shall survive entry of the Judgment and
remain fully enforceable as same in addition to being enforceable by all other means available
for enforcement of a judgment.
VI.
Divorce
IT IS THEREFORE ORDERED that, _________________________, Petitioner, and
__________________________, Respondent, be and they are hereby divorced, and their
marriage is dissolved on the grounds of insupportability and each is restored to the status of a
single person.
VII.
Children of the Marriage
The Court finds that there is no child of the marriage of Petitioner and Respondent and
that none is expected.
VIII.
Division of the Marital Estate
The Court finds that the following is a just and equitable division of the parties' marital
estate, having due regard for the rights of each party.
AGREED DECREE OF DIVORCE
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IT IS THEREFORE ORDERED that the parties' estate is divided as follows:
1. Separate Property Confirmed as to _____________________(wife)
IT IS ORDERED that all of the properties, rights, and interests listed in Schedule A,
attached hereto, is confirmed as the sole and separate property of Petitioner,
___________________, together with all insurance policies covering such properties, rights, and
interests and any escrow accounts related to such properties, rights, and interests.
AGREED DECREE OF DIVORCE
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2. Separate Property Confirmed as to _____________________(husband)
IT IS ORDERED that all of the properties, rights, and interests listed in Schedule B,
attached hereto, is confirmed as the sole and separate property of Respondent,
______________________, together with all insurance policies covering such properties, rights,
and interests and any escrow accounts related to such properties, rights, and interests.
3. Assets Awarded to _______________________(wife)
IT IS ORDERED that all of the properties, rights, and interests listed in Schedule C,
attached hereto and made a part hereof for all purposes, together with all insurance policies
covering such properties, rights, and interests and any escrow accounts related to such
properties, rights, and interests are awarded to Petitioner, _________________________, as her
sole and separate property, and she shall own, possess, and enjoy same free from any right or
claim of _________________________ IT IS FURTHER ORDERED that Respondent,
_________________________, hereby partitions, quitclaims, assigns, and conveys to Petitioner
all of the properties, rights, and interests listed in Schedule C, attached hereto, together with all
insurance policies covering such properties, rights, and interests and any escrow accounts related
to such properties, rights, and interests.
4. Assets Awarded to _______________________(husband)
IT IS ORDERED that all of the properties, rights, and interests listed in Schedule D,
attached hereto and made a part hereof for all purposes, together with all insurance policies
covering such properties, rights, and interests and any escrow accounts related to such
properties, rights, and interests are awarded to Respondent, _________________________, as
his sole and separate property, and he shall own, possess, and enjoy same free from any right or
claim of _________________________, except as otherwise provided herein. IT IS
FURTHER ORDERED that Petitioner, _________________________, hereby partitions,
quitclaims, assigns, and conveys to Respondent all of the properties, rights, and interests listed in
Schedule D, attached hereto, together with all insurance policies covering such properties, rights,
and interests and any escrow accounts related to such properties, rights, and interests.
5. Debts Payable by __________________________(wife)
IT IS ORDERED that Petitioner, _________________________, pay and shall pay all
debts, liabilities, and obligations (including contingent liabilities), listed and described in
Schedule E, attached hereto and made a part hereof for all purposes, and she further covenants
and agrees to pay and completely discharge said debts, liabilities, and obligations and to
indemnify and hold Respondent, _________________________, and his property harmless
therefrom. IT IS FURTHER ORDERED that Petitioner release Respondent from all debts,
liabilities, and obligations (including contingent liabilities), listed and described in Schedule E,
attached hereto, and that Petitioner shall pay all expenses incurred by Respondent in defending
against any claim resulting from her failure to discharge any of these obligations.
6. Debts Payable to __________________________ (husband)
IT IS ORDERED that Respondent, _________________________, pay and shall pay all
debts, liabilities, and obligations (including contingent liabilities), listed and described in
Schedule F, attached hereto and made a part hereof for all purposes, and he further covenants
and agrees to pay and completely discharge said debts, liabilities, and obligations and to
indemnify and hold
Petitioner, _________________________, and her property harmless therefrom. IT IS
FURTHER ORDERED that Respondent release Petitioner from all debts, liabilities, and
obligations (including contingent liabilities), listed and described in Schedule F, attached hereto,
and that Respondent shall pay all expenses incurred by Petitioner in defending against any claim
resulting from his failure to discharge any of these obligations.
7. Division of Assets and Liabilities Not Divided
IT IS ORDERED that any party discovering any property owned by both or either of the
parties during the marriage and not divided herein shall hold same (and any income or revenue
generated therefrom) as constructive trustee for the benefit of both parties and shall notify the
other party of such discovery in writing, certified mail, return receipt requested, within ten (10)
days of such discovery.
IT IS ORDERED that, as a part of the division of the parties' estate, any community
liability not expressly assumed by a party under this Decree will be paid by the party incurring
the liability.
IX.
Federal Income Taxes
1. Tax Returns And Audits. Petitioner and Respondent represent that neither has executed
any Waiver of the Statute of Limitations on the assessment and collection of any tax.
2. Tax Return and Tax Liabilitv for 20__. Petitioner and Respondent represent that their
______ Joint Federal Income Tax Return is still pending review and that additional tax monies
may be owed or a refund of monies already paid may be due. IT IS ORDERED that, if any
additional taxes, penalties, and interest are due and owing for the tax year _____, each party
shall be fifty percent (50%) liable for such taxes, penalties, and interest and shall timely pay
same. IT IS FURTHER ORDERED that each party shall INDEMNIFY AND hold the other
party and the other party's property harmless from any tax liability not so paid.
3. Tax Returns and Tax Liability for 20__. IT IS ORDERED that, for the calendar year
20___, each party will timely file a tax return and pay that party's own income tax liability in
accordance with the rules and regulations of the Internal Revenue Code. IT IS FURTHER
ORDERED that no party shall take a deduction expenses that the other party paid. IT IS
FURTHER ORDERED that a party may take a deduction for the deductible expenses that party
has paid. IT IS FURTHER ORDERED that each party shall take credit on his or her return for
all 20____ prepayments made by that party and all 2000 withholdings made in that party's name.
IT IS FURTHER ORDERED that each party shall INDEMNIFY AND hold the other party
and the other party's property harmless from any tax liability not so paid. Any refund shall be
solely owned by the person(s) named thereon. IT IS FURTHER ORDERED , for the period
January 1, 20___ through date of divorce, each party shall be solely responsible for any and all
taxes, including penalties and interest, that are attributable to the following:
A. income earned and/or received by that party;
B. any wages and/or salary earned by that party;
C. any deductions that are disallowed relating to investments made that party; and
D. any income or gain received by that party including income relating to and/or arising
from assets under that party's sole management and control.
IT IS FURTHER ORDERED , as of the date of the Court's signing of this Decree of
Divorce, each party shall be solely responsible for any and all taxes, including penalties
and interest, that are attributable to the following:
A. income earned and/or received by that party;
B. income earned and/or received by that party;
C. any deductions that are disallowed relating to investments made by that party; and
D. any income or gain received by that party including income relating to and/or arising
from assets under that party's sole management and control.
4. Indemnification for Delay in or Negligent Furnishing of Information Necessary to
Prepare Tax Returns. IT IS ORDERED that Petitioner shall pay for Respondent and
indemnify Respondent from and against any Tax Liability or other reasonable costs and
expenses caused by Petitioner's delay in or refusal to furnish information necessary for the
preparation of Respondent's federal income tax returns for calendar year 20___ and calculations
provided for in this section, or for the intentional or negligent furnishing of incomplete,
inaccurate, or erroneous information to be used in connection with the preparation of
Respondent's federal income tax returns for calendar year 20___, or Petitioner's delay in the
payment of any sums owing by Petitioner pursuant to this section of this Decree. IT IS
FURTHER ORDERED that Respondent shall pay for Petitioner and indemnify Petitioner from
and against any Tax Liability or other costs and expenses caused by Respondent's delay in or
refusal to furnish information necessary for the preparation of Petitioner's federal income tax
returns for calendar year 20___ and calculations provided for in this section, or for the
intentional or negligent furnishing of incomplete, inaccurate, or erroneous information to be
used in connection with the preparation of Petitioner's federal income tax returns for calendar
year 20___, or Respondent's delay in the payment of any sums owing by Respondent pursuant to
this section of this Decree.
5. Partition. IT IS ORDERED that the division of properties between them is a partition
and is not a taxable event, and each party shall treat the division as a non-taxable event for
federal and/or state income tax purposes.
6. Preservation of Records. IT IS ORDERED that each party shall keep and preserve
for a period of seven (7) years from the date of divorce all financial records relating to the
community estate and each party will allow the other party access to these records in the event of
any tax audits .
7. Notice of Audit. IT IS ORDERED that Petitioner and Respondent shall forward
immediately to each other copies of any notices, letters, or adjustments received from the
Internal Revenue Service for years ending prior to 20___. IT IS FURTHER ORDERED that
the parties shall cooperate with handling of any audit, tax litigation, or other disputes with the
Internal Revenue Service for years during any part of which the parties were married.
8. Definitions. IT IS ORDERED that the following definitions apply to this Section:
1. “Tax Liability” includes all penalties and interest related to the tax in
question and includes all accounting, legal and other expenses in connection with
the determination or re-determination of the tax, penalties, or interest.
2. “Prepayments” includes all taxes withheld from wages during, and all
estimated tax payments made for, the period in question.
9. Tax Basis . IT IS ORDERED that the property awarded herein to each will retain the
same tax basis as was in existence prior to the partition.
X.
Court Costs
IT IS ORDERED that all costs of court expended in this cause are taxed against the
party incurring the costs, for which let execution issue if not timely paid.
XI.
Disclosure of Liabilities
The Court finds that ________________________ has represented to
________________________ that she has made him aware of all debts incurred solely by her
during their marriage. IT IS THEREFORE ORDERED that, to the extent that any of such
debts are still outstanding (those incurred solely by ________________________ during the
time they were together of which she has not made him aware), ________________________
shall hold ________________________ and his property harmless from such debts.
The Court finds that ________________________ has represented to
________________________ that he has made her aware of all debts incurred solely by him
during their marriage. IT IS THEREFORE ORDERED that, to the extent that any of such
debts are still outstanding (those incurred solely by ________________________ during the
time they were together of which he has not made her aware), ________________________
shall hold ________________________ and her property harmless from such debts.
XII.
Clarifying Orders
Without affecting the finality of this Decree of Divorce, this Court expressly reserves the
right to make orders necessary to clarify and enforce this Decree.
XIII.
Execution and Delivery of Documents
IT IS FURTHER ORDERED that Petitioner and Respondent shall execute all
documents necessary to effect this Decree and that Petitioner and Respondent have all necessary
writs, executions, and processes, as often and many as necessary to accomplish the execution
and final
disposition of this judgment.
IT IS FURTHER ORDERED that Respondent, ________________________ shall
execute the Promissory Note, in the form attached to this Decree as Exhibit “A” , and the
Security Agreement, in the form attached to this Decree as Exhibit “B” , immediately upon the
signing of this Divorce Decree by the Court and shall immediately deliver same to Petitioner,
________________________.
XIV.
Attorney’s Fees
IT IS ORDERED that each party shall pay fifty percent (50%) of Wife's attorney's fees
incurred in this matter to be paid at the rate of ________________ and no/100 Dollars
($______) per month directly to the ________________________, Texas _________, with the
first such payment being due and payable on ___________, 20___, and like payments being due
and payable on the _______ (___) day of each month thereafter, month to month, until paid in
full. IT IS FURTHER ORDERED that, on the date that the Court signs this Agreed Decree of
Divorce, Husband and Wife will be furnished with a final invoice from the
________________________, along with all prior invoices, evidencing the payments to date by
each party and the payments due from each party, each month thereafter, each party will be
forwarded an invoice evidencing payments made by each party.
XV.
Name Change
IT IS ORDERED that Petitioner's name is changed to
___________________________.
XVI.
Relief Denied
IT IS ORDERED that all relief requested in this cause not expressly granted is denied.
SIGNED this _____day of _________________, 20___.
___________________________________
JUDGE PRESIDING
APPROVED AS TO FORM:
_________________________________
Attorney for Petitioner
APPROVED AS TO FORM AND SUBSTANCE:
_________________________________ _________________________________
Petitioner Respondent, appearing Pro Se
SCHEDULE A.
Separate Property Confirmed as to __________________________ (wife)
SCHEDULE B.
Separate Property Confirmed as to ________________________ (husband)
SCHEDULE C.
Assets Awarded to ____________________ (wife)
SCHEDULE D.
Assets Awarded to ________________________ (husband)
SCHEDULE E.
Debts Payable by _______________________ (wife)
SCHEDULE F.
Debts Payable by _______________________ (husband)
EXHIBIT A
Note
DATE:
MAKER:
MAKER’S MAILING ADDRESS (INCLUDING COUNTY):
PAYEE:
PLACE FOR PAYMENT (INCLUDING COUNTY):
PRINCIPAL AMOUNT:
ANNUAL INTEREST RATE ON UNPAID PRINCIPAL FROM DATE:
ANNUAL INTEREST RATE ON MATURED, UNPAID AMOUNTS:
TERMS OF PAYMENT (PRINCIPAL AND INTEREST):
SECURITY FOR PAYMENT
A SECURITY INTEREST CREATED AND GRANTED IN THE FOLLOWING SECURITY AGREEMENT:
DATE:
DEBTOR:
SECURED PARTY: PAYEE
COUNTY WHERE COLLATERAL LOCATED:
COLLATERAL:
OTHER SECURITY FOR PAYMENT:
NOTE
Maker promises to pay to the order of Payee at the place for payment and according to the terms of payment the
principal amount plus interest at the rates stated above. All unpaid amounts shall be due by the final scheduled
payment date.
If Maker defaults in the payment of this note or in the performance of any obligation in any instrument securing or
collateral to it, and the default continues after Payee gives Maker notice of the default and the time within which it
must be cured, as may be required by law or by written agreement, Payee may declare the unpaid principal balance
and earned interest on this note immediately due. Maker and each surety, endorser, and guarantor waive all demands
for payment, presentations for payment, notices of intention to accelerate maturity, notices of acceleration of maturity,
protests, and notices of protest, to the extent permitted by law.
If this note or any instrument securing or collateral to it is given to an attorney for collection or enforcement, or if suit
is brought for collection or enforcement, or if it is collected or enforced through probate, bankruptcy, or other judicial
proceeding, then Maker shall pay Payee all costs of collection and enforcement, including reasonable attorney's fees
and court costs, in addition to other amounts due. Reasonable attorney's fees shall be ____ percent of all amounts due
unless either party pleads otherwise.
Interest on the debt evidenced by this note shall not exceed the maximum amount of nonusurious interest that may be
contracted for, taken, reserved, charged, or received under law; any interest in excess of that maximum amount shall
be credited on the principal of the debt or, if that has been paid, refunded. On any acceleration or required or permitted
prepayment, any such excess shall be canceled automatically as of the acceleration or prepayment or, if already paid,
credited on the principal of the debt or, if the principal of the debt has been paid, refunded. This provision overrides
other provision in this and all other instruments concerning the debt.
Each Maker is responsible for all obligations represented by this note.
When the context requires, singular nouns and pronouns include the plural.
This note is given to evidence the indebtedness imposed on Maker by the Agreed Decree of Divorce rendered in
Cause No. _______________, styled "In the Matter of the Marriage of ___________," by the _____ Judicial District
Court of _______________ County, Texas.
___________________________________________
Maker
Address:____________________________________
____________________________________
NOTE
EXHIBIT B
Security Agreement
DATE:
DEBTOR:
DEBTOR’S MAILING ADDRESS (INCLUDING COUNTY):
SECURED PARTY:
SECURED PARTY’S MAILING ADDRESS (INCLUDING COUNTY):
CLASSIFICATION OF COLLATERAL:
COLLATERAL (INCLUDING ALL ACCESSIONS):
OBLIGATION
NOTE:
DATE:
AMOUNT:
MAKER:
PAYEE:
FINAL MATURITY DATE:
TERMS OF PAYMENT:
OTHER OBLIGATION:
DEBTOR’S REPRESENTATION CONCERNING LOCATION OF COLLATERAL:
Subject to the terms of this agreement, Debtor grants to Secured Party a security interest in the collateral and all its
proceeds to secure payment and performance of Debtor's obligation in this security agreement and all renewals and
SECURITY AGREEMENT
extensions of any of the obligation.
DEBTOR'S WARRANTIES
1. Financing Statement. Except for that in favor of Secured Party, no financing statement covering the
collateral is filed in any public office.
2. Ownership. Debtor owns the collateral and has the authority to grant this security interest. Ownership is
free from any setoff, claim, restriction, lien, security interest, or encumbrance except this security
interest and liens for taxes not yet due.
3. Futures and Accessions. None of the collateral is affixed to real estate, is an accession to any goods, is
commingled with other goods, or will become a fixture, accession, or part of a product or mass with
other goods except as expressly provided in this agreement.
4. Financial Statements. All information about Debtor's financial condition provided to Secured Party was
accurate when submitted, as will be any information subsequently provided.
DEBTOR’S COVENANTS
1. Protection of Collateral. Debtor will defend the collateral against all claims and demands adverse to
Secured Party's interest in it and will keep it free from all liens except those for taxes not yet due and
from all security interests except this one. The collateral will remain in Debtor's possession or control at
all times, except as otherwise provided in this agreement. Debtor will maintain the collateral in good
condition and protect it against misuse, abuse, waste, and deterioration except for ordinary wear and tear
resulting from its intended use.
2. Insurance. Debtor will insure the collateral in accord with Secured Party's reasonable requirements
regarding choice of carrier, casualties insured against, and amount of coverage. Policies will be written
in favor of Debtor and Secured Party according to their respective interests or according to Secured
Party's other requirements. All policies will provide that Secured Party will receive at least ten days'
notice before cancellation, and the policies or certificates evidencing them will be provided to Secured
Party when issued. Debtor assumes all risk of loss and damage to the collateral to the extent of any
deficiency in insurance coverage. Debtor irrevocably appoints Secured Party as attorney-in-fact to
collect any return, unearned premiums, and proceeds of any insurance on the collateral and to endorse
SECURITY AGREEMENT
any draft or check deriving from the policies and made payable to Debtor.
3. Secured Party's Costs. Debtor will pay all expenses incurred by Secured Party in obtaining, preserving,
perfecting, defending, and enforcing this security interest or the collateral and in collecting or enforcing
the note. Expenses for which Debtor is liable include, but are not limited to, taxes, assessments,
reasonable attorney's fees, and other legal expenses. These expenses will bear interest from the dates of
payments at the highest rate stated in notes that are part of the obligation, and Debtor will pay Secured
Party this interest on demand at a time and place reasonably specified by Secured Party. These expenses
and interest will be part of the obligation and will be recoverable as such in all respects.
4. Additional Documents. Debtor will sign any papers that Secured Party considers necessary to obtain,
maintain, and perfect this security interest or to comply with any relevant law.
5. Notice of Changes. Debtor will immediately notify Secured Party of any material change in the
collateral; change in Debtor's name, address, or location; change in any matter warranted or represented
in this agreement; change that may affect this security interest; and any event of default.
6. Use and Removal of Collateral. Debtor will use the collateral primarily according to the stated
classification unless Secured Party consents otherwise in writing. Debtor will not permit the collateral to
be affixed to any real estate, to become an accession to any goods, to be commingled with other goods,
or to become a fixture, accession, or part of a product or mass with other goods except as expressly
provided in this agreement.
7. Sale. Debtor will not sell, transfer, or encumber any of the collateral without the prior written consent of
Secured Party.
RIGHTS AND REMEDIES OF SECURED PARTY
1. Generally. Secured Party may exercise the following rights and remedies either before or after default:
1. take control of any proceeds of the collateral;
2. release any collateral in Secured Party's possession to any debtor, temporarily or otherwise;
3. take control of any funds generated by the collateral, such as refunds from and proceeds of insurance,
SECURITY AGREEMENT
and reduce any part of the obligation accordingly or permit Debtor to use such funds to repair or replace
damaged or destroyed collateral covered by insurance; and
4. demand, collect, convert, redeem, settle, compromise, receipt for, realize on, sue for, and
adjust the collateral either in Secured Party's or Debtor's name, as Secured Party desires.
2. Insurance. If Debtor fails to maintain insurance as required by this agreement or otherwise by
Secured Party, then Secured Party may purchase single-interest insurance coverage that will protect only
Secured Party. If Secured Party purchases this insurance, its premiums will become part of the obligation.
EVENTS OF DEFAULT
Each of the following conditions is an event of default:
1. if Debtor defaults in timely payment or performance of any obligation, covenant, or liability in any
written agreement between Debtor and Secured Party or in any other transaction secured by this agreement;
2. if any warranty, covenant, or representation made to Secured Party by or on behalf of Debtor proves
to have been false in any material respect when made;
3. if a receiver is appointed for Debtor or any of the collateral;
4. if the collateral is assigned for the benefit of creditors or, to the extent permitted by law, if
bankruptcy or insolvency proceedings commence against or by any of these parties: Debtor; any partnership
of which Debtor is a general partner; and any maker, drawer, acceptor, endorser, guarantor, surety,
accommodation party, or other person liable on or for any part of the obligation;
5. if any financing statement regarding the collateral but not related to this security interest and not
favoring Secured Party is filed;
6. if any lien attaches to any of the collateral; and
REMEDIES OF SECURED PARTY ON DEFAULT
During the existence of any event of default, Secured Party may declare the unpaid principal and earned
SECURITY AGREEMENT
interest of the obligation immediately due in whole or part, enforce the obligation, and exercise any rights
and remedies granted by chapter 9 of the Texas Business and Commerce Code or by this agreement,
including the following:
1. require Debtor to deliver to Secured Party all books and records relating to the collateral;
2. require Debtor to assemble the collateral and make it available to Secured Party at a place reasonably
convenient to both parties;
3. take possession of any of the collateral and for this purpose enter any premises where it is located if
this can be done without breach of the peace;
4. sell, lease, or otherwise dispose of any of the collateral in accord with the rights, remedies , and
duties of a secured party under chapters 2 and 9 of the Texas Business and Commerce Code after giving
notice as required by those chapters; unless the collateral threatens to decline speedily in value, is perishable,
or would typically be sold on a recognized market, Secured Party will give Debtor reasonable notice of any
public sale of the collateral or of a time after which it may be otherwise disposed of without further notice to
Debtor; in this event, notice will be deemed reasonable if it is mailed, postage prepaid, to Debtor at the
address specified in this agreement at least ten days before any public sale or ten days before the time when
the collateral may be otherwise disposed of without further notice to Debtor;
5. surrender any insurance policies covering the collateral and receive the unearned premium;
6. apply any proceeds from disposition of the collateral after default in the manner specified in chapter
9 of the Texas Business and Commerce Code, including payment of Secured Party's reasonable attorney's
fees and court expenses; and
7. if disposition of the collateral leaves the obligation unsatisfied, collect the deficiency from Debtor.
GENERAL PROVISIONS
1. Parties Bound. Secured Party's rights under this agreement shall inure to the benefit of its successors
and assigns. Assignment of any part of the obligation and delivery by Secured Party of any part of
the collateral will fully discharge Secured Party from responsibility for that part of the collateral. If
Debtor is more than one, all their representations, warranties, and agreements are joint and several.
SECURITY AGREEMENT
Debtor's obligations under this agreement shall bind Debtor's personal representatives, successors,
and assigns.
2. Waiver. Neither delay in exercise nor partial exercise of any of Secured Party's remedies or rights
shall waive further exercise of those remedies or rights. Secured Party's failure to exercise remedies
or rights does not waive subsequent exercise of those remedies or rights. Secured Party's waiver of
any default does not waive further default. Secured Party's waiver of any right in this agreement or
of any default is binding only if it is in writing. Secured Party may remedy any default without
waiving it.
3. Reimbursement. If Debtor fails to perform any of Debtor's obligations, Secured Party may perform
those obligations and be reimbursed by Debtor on demand at the place where the note is payable for
any sums so paid, including attorney's fees and other legal expenses, plus interest on those sums from
the dates of payment at the rate stated in the note for matured, unpaid amounts. The sum to be
reimbursed shall be secured by this security agreement.
4. Interest Rate. Interest included in the obligation shall not exceed the maximum amount of
nonusurious interest that may be contracted for, taken, reserved, charged, or received under law; any
interest in excess of that maximum amount shall be credited to the principal of the obligation or, if
that has been paid, refunded. On any acceleration or required or permitted prepayment of the
obligation, any such excess shall be canceled automatically as of the acceleration or prepayment or,
if already paid, credited on the principal amount of the obligation or, if the principal amount has
been paid, refunded. This provision overrides other provisions in this and all other instruments
concerning the obligation.
5. Modifications. No provisions of this agreement shall be modified or limited except by written
agreement.
6. Severability .The unenforceability of any provision of this agreement will not affect the
enforceability or validity of any other provision.
7. After-Acquired Consumer Goods. This security interest shall attach to after-acquired consumer goods
only to the extent permitted by law.
8. Applicable Law. This agreement will be construed according to Texas laws.
SECURITY AGREEMENT
9. Place of Performance. This agreement is to be performed in the county of Secured Party's mailing
address.
10. Financing Statement. A carbon, photographic, or other reproduction of this agreement or any
financing statement covering the collateral is sufficient as a financing statement.
11. Presumption of Truth and Validity .If the collateral is sold after default, recitals in the bill of sale or
transfer will be prima facie evidence of their truth, and all prerequisites to the sale specified by this
agreement and by chapter 9 of the Texas Business and Commerce Code will be presumed satisfied.
12. Singular and Plural. When the context requires, singular nouns and pronouns include the plural.
13. Priority of Security Interest. This security interest shall neither affect nor be affected by any other
security for any of the obligation. Neither extensions of any of the obligation nor releases of any of
the collateral will affect the priority or validity of this security interest with reference to any third
person.
14. Cumulative Remedies. Foreclosure of this security interest by suit does not limit Secured Party's
remedies, including the right to sell the collateral under the terms of this agreement. All remedies of
Secured Party may be exercised at the same or different times, and no remedy shall be a defense to
any other. Secured Party's rights and remedies include all those granted by law or otherwise, in
addition to those specified in this agreement.
15. Agency. Debtor's appointment of Secured Party as Debtor's agent is coupled with an interest and will
survive any disability of Debtor.
This Security Agreement is given to comply with the Agreed Decree of Divorce rendered in Cause No.
_____________, styled "In the Matter of the Marriage of _________________," by the _____ Judicial
District Court of _____________ County, Texas, and the obligation imposed in that decree.
_________________________________
Secured Party
SECURITY AGREEMENT
_________________________________
Debtor
SECURITY AGREEMENT
