PLEDGE OF PROPERTY (TO SECURE ANTECEDENT DEBT CAN BE MODIFIED FOR FUTURE OBLIGATIONS) THIS AGREEMENT is made as of _______________, 200__, by and between _____________, residing at ___________, ________________ (‘‘Pledgor’’), and _________________, __________ (‘‘Pledgee’’). RECITALS:
WHEREAS, Pledgee, on ______________, 200__, [advanced] [performed legal services for] [describe other arrangement] to Pledgor the sum of $_______.00, which Pledgor agreed to [re]pay on or about ____________, ___________ 200__, with interest at the rate of ____ percent per annum, in accordance with and as evidenced by Pledgor’s promissory note [of even date]. WHEREAS, Pledgor has offered to deliver to Pledgee the property described in Schedule A attached hereto as security for the [re]payment of such [advances] [fees for legal services] [describe other arrangement]. NOW, THEREFORE, it is agreed that: 1. Grant of security interest. Pledgor hereby grants to Pledgee a security interest in the property