Assignment of Deposit Account as Security

This Assignment of Deposit Account as Security will effectively assign a deposit account as collateral security for a debt. This document sets out the detailed terms of the assignment and includes the name of the person receiving the assignment (the “assignee”) and the specifics regarding the financial institution where the deposit account is held. It is important that this agreement be set out in writing. Having a written Assignment of Deposit Account as Security will be helpful in the event of misunderstandings. (continued ...)