Exhibit #1 UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF TEXAS MIDLAND-ODESSA DIVISION In re: } } Debtor(s) } Case No. } } (Chapter 13) } DEBTOR(S)’ CHAPTER 13 PLAN [ ] AMENDED PLAN AND MOTIONS FOR VALUATION AND LIEN AVOIDANCE Plan Summary A. Debtor’s Plan payment is scheduled at $_________ per month for ____ months [___ Pay Order, __ Direct Pay]. The gross amount to be paid into the Plan is $___________. B. The Plan proposes to pay in full all allowed priority, special class, secured claims to the extent of the value of the collateral or the amount of the claim, whichever amount is provided for in Section III hereof, and approximately ____% of the unsecured allowed claims. THIS PLAN DOES NOT ALLOW CLAIMS. You must file a proof of claim to receive distributions under any Plan that may be confirmed. C. The value of Debtor’s non-exempt assets is $__________. D. Debtor’s current monthly income of $__________, less monthly expenses of $__________ equals $__________, which is the amount available monthly for the Plan. E. The total amount to be paid into the Plan shall be increased for tax refunds as set forth in the Standing Order for Chapter 13 Case Administration in this Division. These additional receipts shall be disbursed according to the provisions of the Plan. Plan Provisions I. Vesting of Estate Property American LegalNet, Inc. www.FormsWorkflow.com Upon confirmation of the Plan, all property of the estate shall (shall not) vest in the Debtor and shall (shall not) remain as property of the estate subject to the automatic stay of 11 U.S.C. Section 362. II. Executory Contracts / Unexpired Leases / Contracts for Deed Pursuant to 11 U.S.C. Section 1322(b)(7) of the Bankruptcy Code, Debtor hereby elects to assume the following executory contracts, if any: Pursuant to 11 U.S.C. Section 1322(b)(7) of the Bankruptcy Code, Debtor hereby elects to reject the following executory contracts, if any: III. 1. Direct Collateral. A. Specific Treatment for Payment of Allowed Claims Payments to Creditors; Surrender of Remarks Debt Amount Monthly Payment Debtor shall surrender the following collateral: Creditor 2. Debtor Debtor shall pay the following creditors directly: Creditor B. by Remarks Debt Amount Monthly Payment Payments by Trustee. A. Administrative Expenses (including attorney’s fees): The Trustee shall disbursed, except Debtor(s). Creditor receive on any Estimated Amount of Debt up to funds 10% of all sums returned to the Payment Method: 1. Before 2. After 3. Along with secured creditors Remarks American LegalNet, Inc. www.FormsWorkflow.com B. Arrearage Claims – Direct Pay Creditors: Creditor/ Collateral C. Est. claim Est. Value of Collateral Mon. Pmt. or Method of Disbursement Interest Rate Anticipated Total to Pay Other Treatment / Remarks Secured Creditors; MOTIONS TO VALUE COLLATERAL: The Trustee shall pay allowed secured claims, which require the filing of a proof of claim, to the extent of the value of the collateral or the amount of the claim, whichever amount is provided for in this Section, plus interest thereon at the rate specified in this Plan. Failure of the secured creditor to object to the Plan will be deemed acceptance of the Plan under 11 U.S.C. Section 1325(a)(5)(A). Except for secured claims for which provision is made to pay the full amount of the claim notwithstanding the value of the collateral, the portion of any allowed claim that exceeds the value of the collateral indicated shall be treated as an unsecured claim under Section III(2)(E). Unless otherwise ordered by the Court upon objection to the Plan, the payments provided herein for secured creditors shall be deemed to provide adequate protection to such creditors during the term of the Plan. Debtor moves to value collateral described below in the amounts indicated. Debtor affirms that the values as stated in the Plan for the secured debt are accurate and to the best of Debtor’s knowledge represent the replacement value, pursuant to 11 U.S.C. Section 506(a)(2), of the assets held for collateral. Objections to Valuation of collateral proposed by this Plan must be filed no later than ten (10) days prior to the confirmation hearing date. If no timely objection is filed, the relief requested may be granted in conjunction with confirmation of the Plan. American LegalNet, Inc. www.FormsWorkflow.com Creditor/ Collateral Est. claim Est. Value of Collateral Monthly Payment Interest Rate Anticipated Total to Pay Other Treatment / Remarks Secured creditors shall retain their liens on the collateral that is security for their claims until the earlier of the payment of the underlying debt determined under non-bankruptcy law or discharge under 11 U.S.C. Section 1328. In addition, if this case is dismissed or converted without completion of the Plan, such liens shall also be retained by the creditors to the extent recognized by applicable non-bankruptcy law. D. Priority Creditors: Creditor E. Estimated Amount of Debt Payment Method: 1. Before 2. After 3. Along with secured creditors Remarks General Unsecured Creditors (including claims from rejection of contracts, leases, and contracts for deed): Unless otherwise provided below, payments to creditors with allowed general unsecured claims shall be made on a pro rata basis as funds become available after payment of other creditors. It is estimated that distribution to the general unsecured creditors will commence in the _____ month of the Plan. F. Cure claims on Assumed Executory Contracts, Contracts for Deed, and Leases: Creditor Estimated Amount of Debt Monthly Payment or Method of Disbursement Remarks TOTALS: American LegalNet, Inc. www.FormsWorkflow.com Administrative Claims Arrearage Claims Secured Claims Priority Claims Unsecured Claims Cure Claims G. $ $ $ $ $ $ Supplemental Plan Provisions: (1). MOTION TO AVOID LIENS UNDER 11 U.S.C. SECTION 522(f): Debtor moves to avoid the following liens that impair exemptions. Objections to Lien Avoidance as proposed in this Plan must be filed no later than ten (10) days prior to the confirmation hearing date. If no timely objection is filed, the relief requested may be granted in conjunction with confirmation of the Plan. If a lien is avoided, the claim will not be treated as a secured claim but as an unsecured claim under Section III(2)(E). Debtor must list the specific exempt property said lien impairs and the basis of the lien, e.g., judicial, nonpurchase-money security interest, etc. Creditor Property Subject to Lien Amount of Lien to be Avoided Remarks (2). Secured claims not otherwise provided for herein: In the event a creditor timely files a proof of claim that evidences a perfected security interest in collateral, which claim and collateral were not dealt with elsewhere herein, the collateral shall be deemed valued by the Court and the claim shall be paid at the amount set forth in the Trustee’s Recommendation Concerning Claims, unless a response is timely filed to such Recommendation. The interest rate to be paid on any such claim shall be ____% per annum. American LegalNet, Inc. www.FormsWorkflow.com (3). The Provisions: following additional Supplemental Plan None. IV. Notice: Local Rule 3002 “Every Creditor filing transmit a copy with Attorney (or the Debtor, appointed in the case.” General Information provides, in part: a Proof of Claim in all cases shall attachments, if any, to the Debtor’s if the Debtor is pro se) and the Trustee A. Use of the singular word “Debtor” in this Plan includes the plural in a joint case. B. Creditors are hereby notified that WITHOUT FURTHER NOTICE the Plan may be amended in the Meeting of Creditors. Any amendment may affect your status as a creditor. Debtor’s estimate of how much the Plan will pay, projected payments, and estimates of the allowed claims may also change. The following information is an attempt to advise creditors of the status of the case based on the information known at the time of its preparation. Any special concerns of a creditor may justify attendance at the Meeting of Creditors and such other actions as may be appropriate under the circumstances. C. For information on deadlines for filing proofs of claims, creditors are referred to the Federal Rules of Bankruptcy Procedure, the local bankruptcy rules for the Western District of Texas, and the Standing Order for Chapter 13 Case Administration in this Division. D. The deadline for the filing of objections to confirmation is ten (10) days prior to the confirmation hearing. More detailed information is on file at the office of the United States Bankruptcy Clerk in Midland, Texas. Local bankruptcy rules and the Standing Order for Chapter 13 Case Administration are available at the United States Bankruptcy Clerk’s office and online at www.txwb.uscourts.gov. Respectfully submitted this ____ day of ________, 20__. American LegalNet, Inc. www.FormsWorkflow.com _____________________________ _____________________________ Debtor Address Debtor Address _____________________________ Attorney for Debtor(s) Address Telephone Number Fax Number CERTIFICATE OF SERVICE Debtor(s) are responsible for service of the Plan on the Chapter 13 Trustee, the creditors, and all parties-in-interest. ATTACH PROPOSED PAYMENT SCHEDULE, IF AVAILABLE. American LegalNet, Inc. www.FormsWorkflow.com