In re Hull

Full title: In Re: ADOLPH N. HULL (Chapter 13), Debtor WELLS FARGO FINANCIAL MARYLAND…

Court: United States Bankruptcy Court, D. Maryland, Baltimore Division

Date published: Jun 20, 2008

Case No.: 07-11903-DK (Bankr. D. Md. Jun. 20, 2008)

Opinion

Case No.: 07-11903-DK.

June 20, 2008

Antonio Aquia, Baltimore, MD, Attorney for Debtor.

Merrill Cohen, Bethesda, Maryland, Attorney for Movant.

STIPULATION AND ORDER REGARDING MOTION TO LIFT STAY FILED BY WELLS FARGO FINANCIAL MARYLAND, INC.

DUNCAN KEIR, Bankruptcy Judge

Adolph N. Hull, the debtor herein, by and through his attorney, Antonio Aquia, and Wells Fargo Financial Maryland, Inc. ("Wells Fargo"), by and through its attorney, Merrill Cohen, hereby stipulate and agree as follows:

1. The automatic stay provisions set forth in 11 U.S.C. 362(a) is hereby deemed lifted to permit Wells Fargo to enforce its security interests to repossess and dispose of, if necessary, the debtor's 2003 Buick Park Avenue, S.N. 1G4CW54K534182792 (the "subject vehicle").

2. Wells Fargo agrees not to enforce its rights under its security interest and agrees to stay execution of this order provided that the debtor shall pay to Wells Fargo, on or before June 9, 2008, the regular monthly payment in the amount of $448.94 and the debtor shall continue to make the regular monthly payments of $448.94 on the 9^th day of each subsequent month until all post-petition payments on the subject vehicle are made. In addition, the debtor shall cure the post-petition arrears of $2,794.79, which arrears include the legal fees and costs incurred by Wells Fargo in the amount of $550.00 in connection with this Motion, in five (5) equal payments of $558.94 to be paid on: June 24, 2008; July 24, 2008; August 24, 2008; September 24, 2008; and October 24, 2008.

3. In the event that the debtor defaults in making any payments as set forth herein, or default in any other provision of his retail installment sales contract with Wells Fargo for the purchase of the subject vehicle, including, but not limited to, the provision requiring the debtor to maintain insurance on the vehicle naming Wells Fargo as loss payee, Wells Fargo shall provide to the debtor, and his counsel, written notice of breach of this stipulation. Such written notice shall specify the nature of the breach.

4. That ten (10) days following the mailing of such written notice to the debtor and his counsel that the debtor has defaulted under the terms of this Stipulation and Order, and unless such default has been cured by the debtor within such ten (10) day period, Wells Fargo shall be entitled to repossess and dispose of, pursuant to applicable law, the subject vehicle, without further notice, hearing, or order of Court.

5. In the event that the debtor defaults under the terms of this Stipulation and fail to cure such default pursuant to paragraph four (4) herein, the debtor agrees to immediately surrender the subject vehicle to Wells Fargo.

SO ORDERED

The stay shall terminate without further order at the end of the tenth day following the filing of a notice of default under this order, unless a protest of the notice is filed within that time. If a timely protest is filed, the stay shall continue in effect until the protest is adjudicated. If either party objects to this additional term being included in the consent order, that party shall file a motion under Bankruptcy Rule 9023 within ten days of the entry of this order.