Filed: Dec. 14, 2012
Latest Update: Dec. 14, 2012
Summary: CONSENT ORDER AND STIPULATION MODIFYING THE AUTOMATIC STAY THOMAS J. CATLIOTA, Bankruptcy Judge. Upon consideration of die foregoing Motion for Relief from the Automatic Stay filed by Council for Westphalia Woods (the "Association"), as to certain real property located 3309 Chester Grove Road, Unit B, Upper Marlboro Maryland 20774 ("Property"); and It appearing that the parties consent to the entry of this Order, and it is hereby ORDERED, that the automatic stay of 11 U.S.C. 362(a) is her
Summary: CONSENT ORDER AND STIPULATION MODIFYING THE AUTOMATIC STAY THOMAS J. CATLIOTA, Bankruptcy Judge. Upon consideration of die foregoing Motion for Relief from the Automatic Stay filed by Council for Westphalia Woods (the "Association"), as to certain real property located 3309 Chester Grove Road, Unit B, Upper Marlboro Maryland 20774 ("Property"); and It appearing that the parties consent to the entry of this Order, and it is hereby ORDERED, that the automatic stay of 11 U.S.C. 362(a) is here..
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CONSENT ORDER AND STIPULATION MODIFYING THE AUTOMATIC STAY
THOMAS J. CATLIOTA, Bankruptcy Judge.
Upon consideration of die foregoing Motion for Relief from the Automatic Stay filed by Council for Westphalia Woods (the "Association"), as to certain real property located 3309 Chester Grove Road, Unit B, Upper Marlboro Maryland 20774 ("Property"); and
It appearing that the parties consent to the entry of this Order, and it is hereby
ORDERED, that the automatic stay of 11 U.S.C. §362(a) is hereby terminated so as to permit the Movant to commence foreclosure proceedings in accordance with applicable state law and pursuant to the terms of the lien securing the Movant as to the Property; and it is
FURTHER ORDERED, that Hie Movant shall forbear from exercising any rights to foreclosure under applicable law as to the Property provided that, and so long as, the Debtor performs their monthly assessment fee obligation and complies with the following terms and conditions of this Order:
a) The Debtor shall cure the post-petition assessments of SI 1,942.78, which includes late fees and attorney's fees. Beginning on December 15, 2012, the Debtor will make a payment of $2,000. Then from January 15, 2013 through November 15, 2013, the Debtor will make a monthly payment of $903,89. Payments should be mailed to:
John E. Tsikerdanos
Letch, Early & Brewer, Chtd.
3 Bethesda Metro Center, Suite 460
Bethesda, MD 20814
b) The Debtor shall resume making their regular monthly assessment fee of $200.00 beginning on December 1, 2012 and continue to make regular monthly assessment payments on the first of every month.
c) If the Debtor fail to make any of the cure payments, as described in paragraph a) of this Order, the Movant, by its counsel, shall mail by 1st Class Mail notice of the default to counsel of the Debtor. The Debtor shall have ten (10) days from the date of transmission of the notice, in order to cure the default, by receipt of payment by the Movant's attorney within the ten (10) day period.
FURTHER ORDERED AND AGREED, that the Debtors rights to cure shall be limited to one (1) such opportunity and that upon the tiling of a second default under the terms of the order, there shall be no further opportunity to cure and the Movant may proceed to foreclose its security interest in the Property.
FURTHER ORDERED AND AGREED, that should the instant case be converted for any reason to a case under any other chapter of the bankruptcy code, or dismissed or discharged, the Movant may immediately be free to exercise all rights provided by the security instrument as the forbearance provisions of this Order shall terminate upon conversion, dismissal or discharge.
SO ORDERED.
