# COGNOVIT LEGAL AGREEMENT
**This Cognovit Legal Agreement ("Agreement") is made and entered into as of [Date], by and between:**
**Creditor:**
[Creditor's Name]
[Creditor's Address]
[Creditor's Phone Number]
[Creditor's Email]
**AND**
**Debtor:**
[Debtor's Name]
[Debtor's Address]
[Debtor's Phone Number]
[Debtor's Email]
**1. RECITALS**
1.1 **Purpose**: This Agreement is intended to provide an acknowledgment of the Debtor's obligation to pay a specific debt to the Creditor, allowing for the enforcement of such obligation through a cognovit process.
1.2 **Acknowledgment**: The Debtor acknowledges that they are indebted to the Creditor in the principal sum of [Principal Amount], with interest thereon at the rate of [Interest Rate]% per annum, which has become due and payable.
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**2. TERMS OF PAYMENT**
2.1 **Payment Obligation**: The Debtor agrees to pay the Creditor the total amount of [Total Amount Due] on or before [Due Date].
2.2 **Method of Payment**: Payments shall be made in the following manner:
- [Specify payment method, e.g., bank transfer, check, etc.]
2.3 **Late Payment**: In the event the Debtor fails to make the payment by the Due Date, a late fee of [Late Fee Amount or Percentage] shall be applied.
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**3. COGNOVIT CLAUSE**
3.1 **Confession of Judgment**: The Debtor hereby irrevocably confesses judgment in favor of the Creditor for the amount due under this Agreement, inclusive of any costs and attorney fees incurred by the Creditor in collecting said amounts.
3.2 **Jurisdiction**: The Debtor consents to the jurisdiction of any court of competent jurisdiction located in [Location] for the enforcement of this Cognovit, and waives any objections to such jurisdiction or venue.
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**4. DEFAULT**
4.1 **Default Events**: Default under this Agreement shall occur if the Debtor fails to make any payment when due, becomes insolvent, admits in writing their inability to pay debts as they become due, or is subject to any bankruptcy or insolvency proceeding.
4.2 **Remedies**: Upon default, the Creditor may exercise any and all remedies available at law or in equity, including but not limited to pursuing the Debtor through the cognovit process.
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**5. MISCELLANEOUS**
5.1 **Governing Law**: This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
5.2 **Amendment**: This Agreement may only be amended in writing signed by both parties.
5.3 **Severability**: If any provision of this Agreement is held to be unenforceable, the remaining provisions shall continue in full force and effect.
5.4 **Entire Agreement**: This Agreement constitutes the entire agreement between the parties regarding its subject matter and supersedes all prior agreements, understandings, and negotiations.
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**IN WITNESS WHEREOF**, the parties hereto have executed this Cognovit Legal Agreement as of the date first above written.
**CREDITOR:**
Signature: __________________________
Name: [Creditor's Name]
Date: _____________________
**DEBTOR:**
Signature: __________________________
Name: [Debtor's Name]
Date: _____________________
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**NOTARY ACKNOWLEDGMENT**
State of [State]
County of [County]
On this [Date], before me, [Notary's Name], a notary public in and for said state, personally appeared [Creditor's Name] and [Debtor's Name], who are known to me to be the persons whose names are subscribed to the within instrument and acknowledged that they executed the same for the purposes therein contained.
Witness my hand and official seal.
Signature: __________________________
Notary Public
My commission expires: _________