Security Agreement over Deposit Account

This Security Agreement Over Deposit Agreement is between a creditor and a debtor who agrees to allow a deposit account to be used as security for a debt. This agreement sets forth the names of the parties, name of the financial institution where the deposit account is held and its account number. It also sets forth representations of the debtor, remedies in the event of default and that the security is continuing. A written Security Agreement Over Deposit Account will prove invaluable in the event there are disagreements or questions regarding the account which is held as security for a debt. (continued ...)