Agreement For Loan To Partner And Security Agreement

Agreement For Loan To Partner And Security Agreement
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The partnership __________________, and ___________________, in his individual capacity, agree:


___________________ is a partner of the _________________ partnership. The partnership is desirous lending sums to _____________________.

Terms of the loan:

On or before _____, 20 __, the partnership shall lend to the sum of $------ (dollars) shall execute a promissory note payable to the partnership in the customary form for such notes in ________________. The note shall be repayable upon the following terms:

Security Interest:

Herewith grants a security interest to the partnership in:

(a) the partnership capital account of _________________;

(b) the drawing account, if any, of ____________________;

(c) any and all funds which may become due from time to time to from the partnership.

Upon any default under the terms of the note, the partnership shall have all of the rights of a secured party under the Uniform Commercial Code.

Herewith appoints the partnership as his attorney in fact for the purpose of recording any financing statements or other notices related to perfect of the security interest granted...


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Product Code AGRK49
Condition New

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