Opinion
Case No. 04-69385.
September 6, 2005
GEOFFREY J. PETERS, MONETTE W. COPE, BRIAN D. WOOD, Weltman, Weinberg Reis Co., L.P.A., Columbus, OH, Counsel for Creditor, WESTERN CREDIT UNION INC.
LUTHER J MILLS ESQ, Westerville OH, Counsel for Debtor(s), Cindy and Gary Orme.
AGREED ORDER REGARDING MOTION OF CREDITOR, BUCKEYE FINANCE COMPANY, FOR RELIEF FROM THE AUTOMATIC STAY
Before the Court is BUCKEYE FINANCE COMPANY's ("Movant") Motion for Relief from the Automatic Stays in effect pursuant to 11 U.S.C. § 362 and Fed.R.Bankr.P. 4001(a)(3). The Motion was properly served and the Debtors were the only party who filed a Memorandum in Opposition or other response. In advance of the hearing to consider Movant's requests, the parties entered into an agreement pursuant to Fed.R.Bankr.P. 4001(d).
Based upon the parties AGREEMENT, the Court hereby deems the above-referenced stays continued, pending compliance with the following incorporated terms:
1. The Debtor(s) shall make all payments required by the confirmed Chapter 13 Plan, recommencing with the month of September, 2005. In the event payments are made by other than wage withholding order, they shall be made to the Chapter 13 Trustee by certified check or money order no later than the third Wednesday of each month.
2. The Debtor(s) shall cure all post-petition, plan payment defaults as follows: Debtor shall pay $175.00 every other week in addition to the regular plan payments until such time as the plan default is current
3. The Debtor(s) shall maintain continuous and uninterrupted full coverage insurance with reference to Movant's security/real property/leased property. Said insurance coverage will contain all appropriate provisions, loss pay endorsements and deductible terms as contemplated by the parties' original loan/lease documentation.
4. In the event the Debtor(s) fail/fails to comply with the payment provisions contained herein, Movant shall have the right to direct written notice of the default to the Debtor(s) and the Debtor(s)' attorney by ordinary U.S. mail. In the event the Debtor(s) fail/fails to fully cure the default within twenty (20) days after the mailing date of the aforementioned notice, the automatic stays in effect under 11 U.S.C. § 362 and Fed.R.Bankr.P. 4001(a)(3) sh all be deemed terminated in favor of Movant, without further notice, order or hearing, upon the filing by counsel for Movant of an Affidavit of Default.
Unless otherwise stated expressly herein, all notices and/or affidavit of default shall be mailed or faxed to the Debtors, the Debtors' attorney, and the Trustee. Each party shall be responsible for notifying the other.
SO AGREED AND ORDERED.