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Attorney or debtor

Use at your own risk.. the facts and events as stated may not apply to you

Attorney for Debtors Petitioner (Debtor) Mortgagee address

SERVICING AGENT FOR: (Creditor) UNITED STATES BANKRTUPCY COURT CENTRAL DISTRICT OF CALIFORNIA SANTA ANA DIVISION

In re: Servando & Carmen NAMBO Debtors

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Bankruptcy Case No.: 8:11-bk-25653-TA Chapter 13 STIPULATION ON DEBTORS MOTION TO AVOID JUNIOR LIEN ON PRINCIPAL RESIDENCE [11 U.S.C. 506(d)] Hearing Date : March 21, 2012 Hearing Time : 2:00 PM Courtroom No : 5B Location : 411 W. Fourth St. Santa Ana, CA 92701

TO THE HONOURABLE THEODOR ALBERT, UNITED STATES BANKRUTPCY JUDGE; CHAPTER 13 TRUSTEE AMRANE COHEN; AND ALL OTHER INTERESTED PARTIES: THIS stipulation is entered into by and between Servando & Carmen Nambo (hereinafter referred to as Debtors, by and through their attorney of record Mr. Mariano A. Alvarez Esq.; and, Aurora Loan Services LLC, Junior Lien Holder, by and through its Servicing Agent: Real Time Resolutions, Inc (hereinafter Creditor.)
STIPULATION ON DEBTORS MOTION TO AVOID JUNIOR LIEN ON PRINCIPAL RESIDENCE [11 U.S.C. 506(d)] Page- 1

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// RECITALS Debtors are the maker of the note in favour of Creditor, dated October original principal amount of $ the real property located at , 2006 in the

(Note), which is secured by a Deed of Trust encumbering (the Subject Property). The Note and Second Deed of Trust

are collectively referred to hereinafter as the Subject Property. A. On or about November 2011, debtor filed a voluntary petition under Chapter 13

of the Bankruptcy Code in the United States Bankruptcy Court for the District of Central California, Santa Ana Division, and was assigned the Case Number . B. On or about 2012, Debtors Chapter 13 Plan was confirmed by Honourable

and the order for confirmation was entered on January th 2012. The plan treated the Subject Note to be avoided in order for Debtors to receive a discharge in this immediate bankruptcy case. C. On or about January , 2012 debtors filed a NOTICE OF MOTION AND

MOTION TO AVOID JUNIOR LIEN ON PRINCIPAL RESIDENCE, against Creditors Second Deed of Trust encumbering the Subject Property be avoided and that its claim be paid as unsecured. D. On or about February , 2012 Debtors filed an NOTICE OF AMENDED

MOTION amending this motion as referenced in paragraph 6 of this stipulation, correcting potential service issues in compliance of local bankruptcy rules, and setting the above referenced hearing date and time.

THE PARTIES HEREBY STIPULATE AS FOLLOWS: 1. Creditors claim shall be allowed as a non-priority general unsecured claim and

shall be paid as such in accordance with the Debtors Chapter 13 Plan; 2. The avoidance and release of the Creditors Second Deed of trust is contingent

upon the Debtors completion of their Chapter 13 Plan and the Debtors receipt of a Chapter 13 discharge;

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3.

Upon receipt of the Debtors Chapter 13 Discharge and completion of their

Chapter 13 Plan, the Judgment may be recorded by the Debtors with the COUNTY, Recorders Office; 4. Creditor shall retain its lien for the full amount due under the Subject Loan should

the Subject property be sold or should a refinance take place prior to the Chapter 13 Plan completion and entry of a Chapter 13 Discharge; 5. Creditor shall retain its lien for the full amount due under the Subject Loan in the

event of either the dismissal of the Debtors Chapter 13 case or the conversion of the Debtors Chapter 13 case to any other Chapter under the United States Bankruptcy Code; 6. In the event of any entity, including the holder of the first lien on the Subject

Property, foreclose on its security interest and extinguishes Creditors Deed of trust prior to the Debtors completion of the Chapter 13 Plan and receipt of a Chapter 13 Discharge, Creditors lien shall attach to the surplus proceeds of the foreclosure sale for the full amount of the Subject Loan balance at the time of the sale; and, 7. Each party shall bear their own attorneys fees and costs incurred in connection

with this stipulation. IT IS SO STIPULATED: DEBTORS:

________________________Date:_______

_______________________Date:________

LAW OFFICES OF
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____________________________________Date:__________

CREDITOR:

____________________________________ Date:_________