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_SETUP.1
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REINSTAT.BLD
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1997-07-22
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4KB
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131 lines
#100
@001 Enter the name of the BORROWER:
~Enter the name of the BORROWER or BORROWERS. Should match the
~name on loan documents.
@002 Enter the name of the LENDER:
~Enter the name of the LENDER.
|003 Enter the date for pay off:
~Enter the date as of which the pay off is correct. Usually same
~date as the date of the agreement.
!005 Enter the present balance of the loan.
~Enter the pay off of the loan as of the date of this agreement,
~in dollar format.
@006 Enter the legal description of the real estate.
~Enter the legal description of the real estate, this is not the
~address but instead is a metes and bounds description or a lot
~and block number.
!010 Enter the per diem interest accrual:
~Enter the amount of the interest which will accrue daily until
the loan is paid, in dollar format.
|201 Enter the original date of the loan.
~Enter the date when the loan was first executed.
!300 Enter the original principal amount of the loan.
~Enter the original amount of the loan in dollar format.
@500/@500/@500/@500 The debt being reinstated is a:
~Select the name of the real estate loan being reinstated.
mortgage
Deed of trust
Trust deed
KEY IN VALUE
|501 Enter the date by which the debt must be paid current:
~Enter the final date for payment of the amount to bring the
~debt current.
!502 Enter the amount to be paid to the LENDER to reinstate:
~Enter, in dollar format, the total of all charges necessary to
~reinstate the debt.
#end control section
#100
AGREEMENT FOR REINSTATEMENT OF @500
@001, referred to as BORROWER, and @002, referred to as LENDER,
agree:
Background
BORROWER has defaulted upon a @500 and the parties desire for
BORROWER to reinstate the loan.
Recitals of fact
BORROWER is indebted to LENDER by virtue of a @500, with a total
payoff of $@005 (!005 dollars) as of |003. The per diem is $@010
(!010 dollars). BORROWER does not possess any claims against
LENDER whatsoever. The lien is a valid and fully enforceable
obligation of the BORROWER upon the following described real
property:
@006
CONDITIONS PRECEDENT TO REINSTATEMENT
1. That there are no liens on the real property, either junior or
senior to the lien of CREDITOR which are in default.
2. That the property has not had improvements made within the
last 90 days, or if any improvements or work which might result
in the right of any party to file a lien, all such claims have
been paid.
3. That all current property taxes and assessments (to the extent
that assessments are confirmed and due and owing) have been paid.
4. That the improvements, if any, remain insured for at least
their present limits continuously through the date of tender.
5. That there is no litigation pending in the nature of a
creditor's bill or other process which alleges that the BORROWER
is insolvent, has made fraudulent transfers.
6. That the property is maintained in its present condition,
ordinary wear and tear excepted.
7. That the BORROWER shall pay, in immediately available funds,
the sum of $@502 (!502 dollars), which is the total sum to bring
the @500 current, on or before |501.
8. No contract shall arise, and LENDER shall have no obligations
and shall retain all of its present rights unless the transaction
is closed on or before |501. This is the entire agreement between
the parties, and this agreement may only be altered in writing
executed by the parties hereto.
9. Upon reinstatement, if it occurs, BORROWER shall faithfully
and timely meet all obligations under the loan, including the
obligation to make timely payments under the @500, time being of
the essence, and LENDER may exercise all rights under the @500.
Dated: ___________________________
___________________________________________
BORROWER
___________________________________________
LENDER