THIS DEBT COMPROMISE AGREEMENT (the "Agreement") is entered into on this, ______________ _____, ________.
BY AND BETWEEN:
DEBT COMPROMISE AGREEMENT
- CURRENT DEBT
The Debtor and the Creditor both hereby agree that the current total amount of the debt remaining is $.
Any amendment or modification of this Agreement or additional obligation assumed by either party in connection with this Agreement will only be binding if evidenced in writing signed by both parties.
- BINDING EFFECT
Except as otherwise provided in this Agreement, all of the covenants, conditions, and provisions of this Agreement shall apply to and bind the parties and the heirs, personal representatives, successors, and assigns of the parties.
- GOVERNING LAW
This Agreement shall be governed and construed in accordance with the laws of the State of .
- HEADINGS AND INTERPRETATION
Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement. In interpreting the language of this Agreement, the Landlord and Tenant will be treated as having drafted this Agreement after meaningful negotiations. The language in this Agreement will be construed as to its fair meaning and not strictly for or against either Party.
The parties hereby indicate by their signatures below that they have read and agree with the terms and conditions of this Agreement in its entirety.
______________ _____, ________.