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_SETUP.1
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SUBLAND.BLD
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1997-07-22
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3KB
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108 lines
#100
@001 Enter the name of the DEBTOR/TENANT:
~Enter the name of the tenant (party borrowing from the lender.)
@002 Enter the name of the SECURED PARTY:
~Enter the name of the secured party (party lending the funds to
~the borrower.)
@100 Enter the name of the LANDLORD:
~Enter the name of the owner of the property/landlord.
#101/#102 The loan:
~Select whether or not the loan has already been made.
has already been made
will be made
#if#101
!003 Enter the original principal amount of the debt:
~Enter, in dollar format, the original face value of the note.
|015 Enter the date of original security agreement:
~Enter the date when the security agreement was executed.
|010 Enter date of note:
~Enter the date when the note secured by the security agreement
~was executed.
@011 Enter description of security:
~Enter a description of the security for the security agreement.
#endif
#if#102
!500 Enter the amount of the loan commitment:
~Enter, in dollar format, the principal sum on the committment.
@501 Enter the collateral to be pledged:
~Enter a general description of the assets to be pledged.
#endif
#103
!600 Enter maximum amount of the debt in the future.
~A subordination agreement requires a maximum limit of the amount
~that is placed in the preferred position. This amount, to be
~entered in dollar format, should be high enough to include
~interest that might accrue, or may be made higher than this
~sum in the event that the lender may make future advances.
#end control section
#100
SUBORDINATION AGREEMENT
@001, referred to as DEBTOR/TENANT, @002, referred to as SECURED
PARTY, and @100 referred to as LANDLORD, agree:
#101
DEBTOR/TENANT is indebted to SECURED PARTY pursuant to a note
dated |010, in the original principal amount of $@003 (!003
dollars); which is secured by security described in a security
agreement dated |015 including:
@011
#102
DEBTOR/TENANT has received a commitment from SECURED PARTY for a
loan in the original principal amount of $@500 (!500 dollars),
which extension of credit is to be secured by certain assets,
including:
@501
#103
In consideration of the extension of credit to the DEBTOR by
SECURED PARTY, LANDLORD agrees:
that any statutory or contractual rights which the LANDLORD may
have to a lien on the above described collateral, shall be
subordinated to the lien of the SECURED PARTY, provided that:
the total amount of the debt shall not exceed $@600 (!600
dollars), exclusive of costs of collection and interest; however,
the subordination of the LANDLORD shall be limited to the amount
actually due and owing from the DEBTOR to SECURED PARTY;
provided that the SECURED PARTY shall properly perfect its
security interest.
Dated: ______________________
___________________________________________
@001, DEBTOR/TENANT
___________________________________________
@002, SECURED PARTY
___________________________________________
@100, LANDLORD