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  • Re: ABP Completion Agreement (“Agreement”)

  • 1. Our Legal Services. Engagement hereunder is contemplated under a two-contract procedure wherein You signed an Affordable Bankruptcy Retainer Agreement a/k/a Two Contract Procedure and we have already filed an emergency bankruptcy petition thereunder. This Agreement is the second agreement that covers the postpetition services. You promise to pay to the order of Capstone Law, PLLC (the “Firm”) the Postpetion Amount set forth above in equal monthly installments, unless otherwise agreed to in writing, and the entire balance shall be paid no later than 12 months after the petition date. Earned Fees will not be refunded.
  • 2. Interest Rates. Upon execution hereof,
    • You will pay interest of twenty-five percent (25%) on the unpaid principal of the Fee, which will be billed monthly;
    • Upon or after default under this Note, all accrued interest will become part of the unpaid principal balance; and
    • Upon or after default under this Note, You will pay interest on the unpaid principal amount at the annual rate of thirty-six percent (36%) or at the maximum interest rate permitted by applicable law, whichever is less; and
    • d.Interest will be computed on the basis of a 365-day year.
    • 3. Application of Payments. All payments under this Note will apply first to any costs and expenses due to Firm, then to accrued interest to date of payment, and then to the unpaid principal amount. You may prepay all or a part of the unpaid principal amount at any time.
    • 4. Our Legal Services. We will provide legal services for the completion of your emergency bankruptcy filing for the purpose obtaining a discharge (“Services”). Services are: (a) preparation and completion of Your statements, schedules, and statement of affairs; (b) representing You at the § 341 meeting of creditors (“341 Meeting”); (c) providing your payment advices, bank statements, and tax returns to the trustee; and (g) responding to court and/or trustee directives.
    • 5. What We Need From You. You agree that: (a) All information that you are required to provide with a petition and thereafter during a case under this title must be complete, accurate and truthful (b) provide all helpful or necessary documentation to support the contents of you bankruptcy petition, statements and schedules; (c) You will timely comply with any trustee directives; (d) You will completely and accurately disclose ALL of your assets and liabilities along with the replacement value thereof; (e) You will completely and accurately provide your current monthly income and disposable income and (f) You will completely and accurately disclose ALL transfers of any property interest within the four years immediately before filing. If you do not provide ALL the information required to complete your filing within 7 days, you understand and acknowledge that your case is subject to dismissal.
    • 6. Fees For Additional Legal Services. In the event you need additional legal services (“Additional Legal Services”) that exceed the scope described above (Paragraph 1) an additional fee for those services is required. The Firm will provide Additional Legal Services at the Firm’s prevailing flat-fee or hourly rates. The Firm’s current hourly rate for attorneys ranges from $175-$325 and office staff rates range from $75 - $125 per hour. Additional Legal Services include, without limitation, discharge proceedings, including those related to student loans, taxes or undue hardships; (b) motions for relief from, or continuation, defense or enforcement of the Automatic Stay; (c) motions to redeem personal property; (d) rule 2004 examinations; (e) motions to avoid liens/judgments; (f) contested matters or adversary proceedings; (g) contested matters regarding Debtors’ claim of exempt property; (h) amendments to any list, schedule, statement, and/or other document required to be filed with the petition as may be necessary or appropriate based on any omission by You; (i) motions to continue3 the § 341 meeting or the creditors and/or appearing for a continued 341 meeting due to Debtors’ failure to appear; (j) motions or adversary complaints to abandon, refinance, sell, or purchase property; (k) assisting in carrying out the Debtors’ Statement of Intentions; (l) monitoring an “asset case”; (m) re-opening a bankruptcy case to submit post-filing proof of pre-discharge counseling (a/k/a debtor education); and (n) review, negotiation, execution, or appearance in support of a reaffirmation agreement. You are also responsible for all actual costs associated with your bankruptcy (“Costs”), including any additional court fees. The unpaid portion of court filing fee according to the Application to Pay the Filing Fee in Installments is included in the Fee described in this Section 3.
    • 7. Disclaimer and Acknowledgement. The Firm disclaims any responsibility for inaccurate or incomplete personal or financial information. You acknowledge: (a) that the Firm has not made representations or warranties regarding the outcome of your matter; (b) you cannot file repeated bankruptcy petitions within a year without losing the “automatic stay”; (c) we cannot advise you to incur debt; (d) you cannot file bankruptcy in bad faith or if you have the “means” to repay your creditors; (e) acknowledge that within three business days of initial contact with us, we provided and you understand the obligations set forth in Section “527A and 527B Disclosures”, attached as Exhibit A and incorporated by this reference in their entirety; (f) your bankruptcy case may be dismissed for failure to timely file documents, attend hearings, or meet deadlines; and (g) bankruptcy may require that you liquidate or surrender all non-exempt assets to the bankruptcy trustee; and (h) bankruptcy’s automatic stay, which prevents creditors from collecting against you, does not apply until your case if filed with the court. The bankruptcy trustee will be the owner of all your non-exempt property (including cash and tax returns) and will attempt to liquidate your non-exempt property.
    • 8. Documents Obtained From Client. This office does NOT retain paper documents from its clients. Unless required by the court in an evidentiary matter, in which case You will be informed in advance, You agree not to submit any original documents to the Firm and authorize the Firm to digitize any documents submitted and then destroy the paper form. Unless otherwise required, Your files and any documents, pleadings, correspondence, or other items contained therein, will be kept for one year after Your case has ended or representation by this office has ended, whichever occurs earlier. After that time, they will be destroyed. Within that year, You may request copies of items in the file for a cost of $50 storage retrieval and processing.
    • 9. Default. Each of the following is an event of default under this Note: You fail to make any payment required by this Agreement within 20 days after payment is due; You fail to pay, become insolvent or unable to pay, or admit in writing an inability to pay Your debts as they become due, or make a general assignment for the benefit of creditors; or A proceeding with respect to Your is commenced under any applicable law for the benefit of creditors, including without limitation any bankruptcy or insolvency law, or an order for the appointment of a receiver, liquidator, trustee, custodian, or other officer having similar powers over You is entered.
    • 10. Remedies. On and after an event of default under this Note, Firm may exercise the following remedies, which are cumulative and which may be exercised singularly or concurrently: You may be assessed a late fee for each and every late payment in the amount of $30 for each payment that is late, wich may be assessed at the time of the late payment or at any time thereafter. Firm may seek court approval to withdraw as counsel; Upon notice to You, the right to accelerate the due dates under this Note so that the unpaid principal amount, together with accrued interest, is immediately due in its entirety; Any remedy available to Firm under any agreement guaranteeing or securing the performance of any of the obligation of You under this Note or any of the obligation of any guarantor of this Note; and Any other remedy available to Firm at law or in equity.
    • 11. Remedies.Governing Law, Jurisdiction, Venue. The laws of the State of Utah will govern this Agreement and the jurisdiction and venue for the enforcement of this Agreement shall be found exclusively in, and the parties submit to personal jurisdiction of the courts of Orem City, Utah County, State of Utah.
    • 12. Attorney’s Fees, Costs & Expenses. If any arbitration or litigation is instituted to interpret, enforce, or void this Note, including but not limited to any proceeding brought under the United States Bankruptcy Code, the prevailing party on a claim shall be entitled to recover reasonable attorney’s fees, costs, and expenses of every kind associated with the enforcement of this Agreement.
    • The foregoing terms and conditions are set forth to promote a clear understanding of our expectations as to Fee for Services. By signing below, the Client acknowledges and agrees that they have read, understand, and agree to all of the foregoing terms and conditions.