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THIS LEASE AGREEMENT (the "Agreement") is entered into on this, ______________ _____, ________.
 
BY AND BETWEEN:

 
of:

,

 
(the "Lender")

 
AND
 
of:

,

 

 
("Borrower")

 
DEBT INSTALLENT AGREEMENT

 
  1. CURRENT DEBT:

    The Borrower and the Lender both hereby agree that the amount of the current debt is $.


  2. REPAYMENT:

    The Lender shall pay the Borrower equal amounts of $. These payments shall be made and shall begin , , continuing until the outstanding debt has been repaid in full.


  3. MODIFICATION:

    No modification or waiver of any of the terms of this Agreement shall be allowed unless by written agreement signed by both parties. No waiver of any breach or default hereunder shall be deemed a waiver of any subsequent breach or default of the same or similar nature.


  4. BINDING EFFECT:

    Expect as otherwise provided in this Agreement, all of the covenants, conditions and provisions of this Agreement shall be binding upon the parties hereto and their respective heirs, personal representatives, executors, administrators, successors and assigns.


  5. HEADINGS:

    Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement


  6. GOVERNING LAW:

    This Agreement is governed by the statutory and case law of the State of .


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