SECURITY AGREEMENT
Effective date: [DATE]. Complete the bracketed fields and remove unused options before signing.
Secured Party: [FULL LEGAL NAME], [ADDRESS], [NOTICE EMAIL].
Grantor: [FULL LEGAL NAME], [ADDRESS], [NOTICE EMAIL].
1. DEBT AND COLLATERAL
Debtor and underlying obligation: [DETAILS]. Secured amount or obligations: [DESCRIPTION]. The grantor grants security in the specifically identified collateral in Schedule A to secure those obligations, to the extent permitted by applicable law. Excluded assets: [DETAILS OR NONE].
2. TITLE AND PRIORITY
Grantor ownership and existing security interests: [DETAILS]. Required third-party consents, releases and priority arrangements: [LIST]. No first-ranking status is promised without completion of the required steps.
3. PERFECTION AND CARE
Responsibility, costs and deadlines for registration, possession, control or other required steps: [DETAILS]. The grantor maintains and insures collateral under [TERMS] and must not dispose of it except [PERMITTED DISPOSALS]. Inspection requires reasonable notice.
4. DEFAULT AND ENFORCEMENT
Events of default: [SPECIFIC EVENTS]. Notice and cure period: [TERMS]. Enforcement, seizure and sale must comply with applicable notice, valuation and sale requirements. Proceeds are applied to permitted costs and secured debt; surplus is returned as required. No unlawful self-help is authorized.
5. RELEASE
On discharge of the secured obligations, the secured party provides releases and filing discharges within [NUMBER] days and returns held collateral. Costs: [ALLOCATION].
6. NOTICES AND CHANGES
Notices must be sent to the addresses above by [AGREED DELIVERY METHOD] and take effect on [AGREED RECEIPT RULE]. Each party must promptly notify the other of changed contact details. Changes to this agreement must be recorded in writing and accepted by all affected parties.
7. LAW AND DISPUTES
Governing law: [AGREED LAW]. Courts or other agreed dispute process: [FORUM AND PROCESS]. The parties will first try to resolve a dispute through their named contacts for [NUMBER] days, without preventing urgent relief or missing a legal deadline. Nothing in this agreement removes rights or requirements that cannot lawfully be excluded.
8. COMPLETE AGREEMENT
This document and its completed schedules record the agreement on this subject. If a term cannot be enforced, the remaining terms continue to the extent permitted. Each signatory confirms authority to sign for the named party. Counterparts and electronic signatures may be used where permitted; any additional signing formalities must still be completed.
SCHEDULE A - COLLATERAL
Owner: [NAME]. Asset description: [DETAILS]. Serial number / registration / account identifier: [DETAILS]. Location: [DETAILS]. Existing liens: [DETAILS OR NONE]. Proceeds or replacement assets included: [SPECIFIC TERMS]. Add an entry for each asset.
SIGNATURES
Secured Party: [NAME]
Signature: ____________________ Date: ____________________
Signing capacity, if applicable: [TITLE / CAPACITY]
Grantor: [NAME]
Signature: ____________________ Date: ____________________
Signing capacity, if applicable: [TITLE / CAPACITY]