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IN RE HUFF
PAUL MANNES, Bankruptcy Judge
Michael Anthony Huff, the debtor herein, by and through his attorney, Adam Brown Ross, 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 2002 Mitsubishi Galant, S.N. 4A3AA46G22E070812 (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 May 7, 2010, the regular monthly payment in the amount of $267.64 and the debtor shall continue to make the regular monthly payments of $267.64 on the 7th 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 $1,620.56, 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 $324.11 to be paid on: May 22, 2010; June 22, 2010; July 22, 2010; August 22, 2010; and September 22, 2010.
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.
PAUL MANNES, Bankruptcy Judge
Notice RecipientsDistrict/Off: 0416-0 User: ealexandr Date Created: 5/3/2010 Case: 09-35013 Form ID: pdfparty Total: 5 Recipients of Notice of Electronic Filing: tr Timothy P. Branigan cmecf@chapter13maryland.com aty Adam Brown Ross aross@adesassoc.us aty Merrill Cohen merrillc@cohenbaldinger.com TOTAL: 3 Recipients submitted to the BNC (Bankruptcy Noticing Center): db Michael Anthony Huff 6420 K Street Capitol Heights, MD 20743 cr Wells Fargo Financial Maryland, Inc. 2nd Floor 13675 Technologty Dr., Bldg. C Eden Prairie, MN 55344-2252 TOTAL: 2
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