Free Agreement to Compromise Debt Form 

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                        AGREEMENT TO COMPROMISE DEBT


               The undersigned a creditor of__________________________

        (Company) hereby agrees to compromise the indebtedness due the

        undersigned creditor on the following terms and conditions:


               1.  The Company and the undersigned agree that the present

        debt due is $ ___________.


               2.  The parties agree that the undersigned shall accept

        the sum of $_____________ as full payment on said debt and in

        complete discharge of all monies due, provided the sum herein

        shall be promptly paid in the following manner:


               3.  In the event the Company fails to promptly pay the

        compromised amount, the undersigned creditor shall have the

        right to prosecute its claim for the total debt due under

        Paragraph 1 less any payments made.


               4.  This Agreement shall be binding upon and inure to the

        benefit of the parties, their successors and assigns.


               Signed and sealed this____day of _____, 19__.