This Payment Plan Agreement is a legal document outlining the terms under which a Debtor agrees to repay a debt to a Creditor. It specifies the repayment schedule, including the first payment amount and subsequent monthly installments. The Agreement serves as a binding commitment where, if the Debtor breaches the payment terms, the Creditor can demand the full outstanding amount and pursue legal remedies. The document provides protections and warranties for both parties and will be governed by California law. It allows for modifications only if they are made in writing and signed by both parties. This Agreement can be used to formalize a structured payment plan, ensuring both parties are clear on the payment expectations and consequences of non-compliance.