JAMES F. SCHNEIDER
SO ORDERED
______________________
U. S. BANKRUPTCY JUDGE
Chapter 13
STIPULATION OF SETTLEMENT
Whereas, the Movant filed a Motion for Relief from Automatic Stay on December 16, 2010, and,
Whereas, the Court entered a Consent Order Modifying the Automatic Stay on December 29, 2010, and,
Whereas, the debtors defaulted under the terms of said consent order, and the Movant mailed a ten day letter of default on July 10, 2012 requiring the Debtors to cure the default in the amount of $5,713.24 good through July 2012, and,
Whereas, the Parties have agreed to settle this matter as outlined below, and,
Whereas the Parties hereby agree that the sum of $5,713.24 in post-petition arrears is presently due and owing through July 2012. The Debtors shall cure the arrears as follows:
1. The Debtors shall tender a lump sum payment in the amount of $5,713.24 on or before October 31, 2012. Said amount represents as follows: +---------------------------------------------+ ¦04/01/12-07/01/12 @ $1415.81/month¦=$5,663.24¦ +----------------------------------+----------¦ ¦Attorney Fee for Notice of Default¦=$50.00 ¦ +----------------------------------+----------¦ ¦Total Delinquency ¦=$5,713.24¦ +---------------------------------------------+ 2. Debtor shall resume making regular payments to Navy Federal Credit Union, pursuant to the terms of the Note, commencing with the payment due August 1, 2012 and continuing on the first day of each month thereafter.
ORDERED that should the Debtors fail to tender any of the amounts listed above in paragraphs 1 and should the Debtors fail to resume regular payments commencing August 1, 2012 as listed in paragraph 1, the Lender shall be free to immediately enforce the provisions of the deed of trust and note with respect to the property located at 1403 Castlegate Drive, Annapolis, MD 21403 and in accordance with the Consent Order entered by this Court on December 29, 2010 and without further hearing or further order of this Court.
ORDERED that if the case shall be converted from a Chapter 13 to a Chapter 7, the automatic stay as to Navy Federal Credit Union shall be lifted effective the date of conversion without further Order of this Court.
ORDERED that nothing contained herein shall be deemed or construed to waive, reduce or otherwise prejudice any rights of Navy Federal Credit Union with respect to the above-referenced Note and Deed of Trust.
Approved as to form and content:
______________________
Randa S. Azzam
Federal Bar No. 22474
Razzam@siwpc.com
Attorney for Movant
______________________
Christopher L. Hamlin, Esquire
Federal Bar No.
Attorney for Debtors
I HEREBY CERTIFY that the terms of the copy of the Consent Order submitted to the Court are identical to those set forth in the original Consent Order; and the signatures represented by the /S/ on the copy of the Consent Order submitted to the Court reference the signatures of consenting parties obtained on the original Consent Order.
______________________
Randa S. Azzam
SERVICE LIST
John William Lamb
Peggy Joyce Lamb
1403 Castlegate Drive
Annapolis, MD 21403
Debtor
Christopher L. Hamlin, Esquire
6411 Ivy Lane, Ste 200
Greenbelt, MD 20770
Attorney for Debtors
Ellen W. Cosby, Esquire
300 E. Joppa Road, Suite 409
Towson, MD 21286
Chapter 13 Trustee
Randa S. Azzam
Samuel I. White, P.C.
913 King Street
Alexandria, VA 22314
Attorney for Movant
Navy Federal Credit Union
P.O. Box 3302
Merrifield, VA 22119
Movant