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FOR CONSIDERATION RECEIVED, ________ [Name], residing at ________ [Address], hereinafter "Creditor", the recipient of a guarantee benefit signed over by ________ [Name], residing at ________ [Address], hereinafter "Debtor", on the ________ day of ________ 20 __, hereby agrees to subordinate to ________ [Name], residing at ________ [Address], hereinafter "Senior Creditor" the Creditor's guarantee benefit against Debtor up to the amount of [$------].
Any and all notices, demands, or other communications required or desired to be given hereunder by any party shall be in writing and shall be validly given or made to another party if personally served, or if sent by U.S. Mail, certified or registered, return receipt requested. If such notice or demand is served personally, notice shall be deemed constructively made at the time of such personal service. If such notice, demand or other communication is given by mail, such notice shall be conclusively deemed given five days after if sent by U.S. Mail addressed to the party to whom such notice, demand or other communication is to be given as follows:
If to the Creditor:
[city, state, zip]
If to the Debtor:
[city, state, zip]
Any party hereto may change its address for purposes of this paragraph by written notice given in the manner provided above.
ACKNOWLEDGEMENT BY NOTARY PUBLIC
State of ________)
On ________, before me, ________, Notary Public, personally appeared ________, who proved to me on the basis of satisfactory evidence to be the person(s) whose names(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies) and that by his/her/their signatures on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
I certify under the PENALTY OF PERJURY under the laws of the State of _________ that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Name of Notary
My Commission Expires