Opinion
CASE NO.: 08-1-5898-TC.
November 3, 2008
Michael T. Cantrell, Esquire, Baltimore, Maryland, Bar No.: 50977, Attorney for Movant.
Richard M. McGill, Esquire, Upper Marlboro, Maryland, Attorney for the debtor.
AGREED ORDER MODIFYING AUTOMATIC STAY
As a result of the filing of a motion to modify the automatic stay, the parties have entered into the following agreement:
1. On or about April 29, 2008 the debtor filed a voluntary petition under the provisions of 11 U.S.C. Chapter 11.
2. The Movant, MetLife Home Loans a division of MetLife Bank NA filed a Motion to Modify Stay to Permit Foreclosure of the Deed of trust against the debtor on or about September 03, 2008. MetLife Home Loans a division of MetLife Bank NA is a secured creditor by a Deed of Trust recorded among the Land Records of Prince George's County, Maryland in Liber 23903 Page 143.
3. The automatic stay imposed by 11 USC Section 362(a) is hereby terminated. The Movant, however, shall forbear from exercising any rights to foreclosure pursuant to the security instruments referenced in this Order so long as the debtor remains compliant with the terms of the Order.
4. That the total post-petition arrearages due the Movant through October, 2008 are Eleven Thousand Five Hundred Ninety Five and 32/100 dollars ($11,595.32) including bankruptcy fees and costs of $800.00
5. Beginning in November, 2008 and continuing each month thereafter pursuant to the Deed of Trust entered into between the parties the debtor agrees to pay MetLife Home Loans a division of MetLife Bank NA at 4000 Horizon Way BK Mail Code 6206 Irving, TX 75063 the correct regular monthly mortgage payment until the Deed of Trust is satisfied.
6. The debtor further agrees beginning November 15, 2008 and continuing on the fifteenth (15th) day of each month thereafter to pay to MetLife Home Loans a division of MetLife Bank NA at the above-mentioned address the sumof One Thousand Nine Hundred Thirty Two and 55/100 dollars ($1,932.55) in certified funds or cash as payment towards the total post-petition arrearages until the aforesaid total post-petition arrearages are satisfied.
7. The parties agree that if the case is converted to a Chapter 7, the Movant may immediately exercise all rights provided by the security instruments referenced in this Order and applicable state law.
8. If the debtor defaults upon the terms enunciated in this Agreed Order, ten (10) days following certification that a Notice of Default was mailed to the debtor, and debtor's attorney that the debtor has not fulfilled the terms of this Agreed Order, and without further order of this court, the Movant may proceed with foreclosure concerning the property known as 2908 Needlewood Lane Bowie, MD 20716 Any successful purchaser may also take whatever legal action is necessary to obtain possession of the above-mentioned property pursuant to Maryland law.
9. If within ten (10) days following the mailing of a Notice of Default, the Movant recieves the payments required to bring the debtor current pursuant to this Agreed Order (ie, this includes the amount of default stated in the Notice of Default, as well as any payments that come due subsequent to the date set forth in the Notice of Default as the date on which the default was calculated) then the Movant shall continue to forebear upon their right to foreclosure unless the debtor defaults pursuant to the terms of this Agreed Order at a future date. Acceptance of partial payment by the Movant during the cure period shall not constitute a satisfaction or waiver of the Notice of Default. The forbearance provision of this Order shall terminate on the expiration of the ten (10) day period in the absence of a complete cure notwithstanding partial payment. The parties agree that TIME IS OF THE ESSENCE in this matter.
10. It is further agreed that if the debtor defaults pursuant to the terms of this Agreed Order on more than two (2) occasions, there shall be no right to bring the account current pursuant to paragraph number nine (9) of this Agreed Order and the Movant may proceed with foreclosure proceedings immediately, notwithstanding the references to a ten (10) day cure period referenced herein.
11. This Agreed Order applies to any successor-in-interest of MetLife Home Loans a division of MetLife Bank NA and shall not be subject to the stay of order referenced in Federal Rule of Bankruptcy Procedure 4001(a)(3).
In the event that this order is being filed electronically without original signatures, by my electronic signature above, I (Movant's Counsel), HEREBY CERTIFY that the terms of the copy of the Agreed order submitted to the Court are identical to those set forth in the original Agreed order; and the signatures represented by the /s/ on this copy reference the signatures of consenting parties on the original Agreed order.
SO ORDERED
Notice Recipients
Recipients of Notice of Electronic Filing: Recipients submitted to the BNC (Bankruptcy Noticing Center):
District/Off: 0416-0 User: srudolf Date Created: 11/3/2008 Case: 08-15898 Form ID: pdfall Total: 6 aty Richard Rogers rrogers@cgd-law.com aty Richard M. 1McGill mcgillrm@aol.com TOTAL: 2 db Frank Monopoli PO Box 565 White Plains, MD 20695 U.S. Trustee — Greenbelt 6305 Ivy Lane, Suite 600 Greenbelt, MD 20770 Frank Monopoli 12991 West Hatton Rd. Charlotte Hall, MD 20622 Cohn, Goldberg Deutsch, LLC 600 Baltimore Avenue, Suite 208 Towson, MD 21204 TOTAL: 4