Payment Installment Agreement

This Payment Installment Agreement (the "Agreement") dated this 21st day of November, 2024

BY AND BETWEEN:

BALANCE

1. At the time of this Agreement, the Debtor owes the Creditor the amount of $_ _ _ _ _ _ _ ("Current Balance") for an Outstanding Balance (debt).

REPAYMENT PLAN

2. To satisfy the Amount Owed, the Debtor agrees to repay the Creditor under the following terms:

   1. Down-Payment: The Debtor shall not be obligated to pay a down-payment as part of this Agreement.
   2. Interest Rate: The Amount owed shall not bear interest.
   3. Repayment Period: The Debtor shall re-pay the Creditor in equal installments on the _ _ _ _ day of every month beginning _ _ _ _ _ _ _ _ _ _ _ _ and ending on _ _ _ _ _ _ _ _ _ _ _ _.
   4. Specific Payment Instructions: The Creditor will give the Debtor payment instructions at a later time.
LATE PAYMENT

3. Any partial or late payment under this Agreement shall not be allowed and the Debtor shall be in default of this Agreement.

DEFAULT

4. If for any reason the Debtor should not oblige to any section or portion of this Agreement, the Debtor shall be considered in default. Under such an event, the remaining balance of the Amount Owed shall be due within five (5) business days with the Debtor liable to pay all reasonable attorney's fees and costs of collection of the Creditor. In addition, the Creditor may reclaim any property or goods in connection with the Amount Owed, hold and dispose of the same, and collect expenses, together with any deficiency due from the Debtor, subject to the Debtor’s right to redeem said items pursuant to law.

GOVERNING LAW

5. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Alabama ("Governing Law").

AMENDMENTS

6. This Agreement may only be amended or modified by a written instrument executed by both the Debtor and the Creditor.

SEVERABILITY

7. The clauses and paragraphs contained in this Agreement are intended to be read and construed independently of each other. If any term, covenant, condition or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the parties' intent that such provision be reduced in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Agreement will in no way be affected, impaired or invalidated as a result.

GENERAL PROVISIONS

8. Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement. Words in the singular mean and include the plural and vice versa. Words in the masculine mean and include the feminine and vice versa.

ENTIRE AGREEMENT

9. This Agreement contains all the terms agreed upon by the debtor and creditor relating to its subject matter, including any annexes or appendices. This Agreement supersedes all previous discussions, understandings and oral agreements.