Complete Home & Office Legal Guide/Complete Home and Office Legal Guide (Chestnut) (1993).ISO/forms/le/20137.bld

Text File | 1993-08-01 | 1KB | 52 lines

#100
@001 Enter the name of the CREDITOR:
@099 Enter the name of the DEBTOR:
@100 Enter a general description of the collateral:
!101 Enter the present outstanding balance of the debt:
@102 Enter consideration for the subordination:
@103 Enter the party who will receive priority:
@104 State precisely what collateral is subject to agreement:
#end control section
#100



                    SUBORDINATION AGREEMENT OF SECURED DEBT


@001, referred to as SECURED PARTY, is the holder of a security
agreement in the following collateral of @099, DEBTOR:


@100


with a present outstanding balance of $ @101 (!101 dollars),
inclusive of principal and interest and in consideration of @102,
hereby agrees that said security or mortgage interest shall be
subordinate to the security interest, mortgage or lien of @103,
in the following collateral of the security agreement:

@104


SECURED PARTY agrees to execute any and all documents reasonably
requested by @103.





_________________________________

Secured Party


Assented to:



_________________________________

Debtor