This is an example of a Security Agreement between a debtor and a creditor to secure a loan. This form is normally used in conjunction with a "promissory note" which defines the terms of the loan itself and places something in particular under security or securitization.
SECURITY AGREEMENT
_____________________, referred to herein as SECURED PARTY, and _____________________, referred to as DEBTOR, agree:
DEBTOR hereby grants a security interest in the following property to the SECURED PARTY:
This security agreement is made to secure an indebtedness to _______________, described as follows:
A [loan/note/etc] in the original principal amount of $ ______, ____________ &___/100 Dollars) dated _______________.
This security interest is also given to secure any other debts which may be owed by ______________ to ____________ from time to time.
DEBTOR warrants to SECURED PARTY that the property in which a security interest is granted is subject to no other liens, charges or encumbrances and that there are no financing statements or other lien notices on file regarding debtor that might create a lien on the property secured herein.
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