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Pca
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_SETUP.1
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SUBSTIT.BLD
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Text File
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1997-07-22
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3KB
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76 lines
#100
@001 Enter the name of the DEBTOR:
~Enter the name of the debtor. This should match the name on the
~original security agreement.
@002 Enter the name of the SECURED PARTY:
~Enter the name of the secured party. This should match the name
~on the original security agreement.
!003 Enter the original principal amount of the debt:
~Enter the original principal amount due.
@015 Enter the date of original security agreement:
~Enter the date when the original security agreement was signed.
~This may be entered in any desired format.
@010 Enter the date of the note:
~Enter the date of the original note. This may be entered in any
~desired format.
@011 Enter a description of all collateral for the note:
~Enter a summary description of all of the collateral held for
~the debt.
@014 Enter the newly pledged collateral:
~Specifically describe the new collateral. This should include
~serial numbers.
!012 Enter the present combined principal and interest balance:
~Enter the present pay off including the principal and interest.
~Enter as a numeral without using the "$" symbol or commas. For
~example: 10000.00.
@013 Enter the description of collateral to be released:
~Specifically describe the collateral which will be released.
~This should include serial numbers.
#end control section
#100
CONSENT TO SUBSTITUTION OF COLLATERAL AND RELEASE
@001, referred to as OWNER, and @002, referred to as SECURED
PARTY, agree:
OWNER is indebted to SECURED PARTY pursuant to a note dated,
@010, in the original principal amount of $@003 (!003 dollars);
with a present total interest and principal balance of $@012
(!012 dollars), and a security agreement dated @015 and has
pledged as security for the note the following:
@011
The DEBTOR has requested that SECURED PARTY release @013 as
collateral for the obligation, but, that @014 be pledged as new
collateral for the obligation. Accordingly, SECURED PARTY
releases @013 as collateral for the obligation, and upon request
of the DEBTOR shall execute such releases, UCC financing
statement releases or other documents reasonably requested by the
DEBTOR.
In all respects @014 shall be subject to the terms and conditions
of the security agreement between the parties dated @015. All
other terms and conditions of the note and security agreement
shall remain in full force and effect.
Dated: ______________________
___________________________________________
@001, OWNER
___________________________________________
@002, SECURED PARTY