Stock Pledge

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Stock Pledge

_____________, referred to as OWNER, and _____________, referred to as CREDITOR, agree:

OWNER is indebted to CREDITOR in the sum of $_______(____________ _________&___/100 dollars) for unpaid balance for purchase of the stock;

to secure repayment of the debt, OWNER pledges to CREDITOR ______ shares of ______ stock of __________________.

OWNER agrees to execute all necessary documents to perfect the pledge.

So long as OWNER is indebted to CREDITOR, the CREDITOR shall have the right to vote the shares.

CREDITOR shall be entitled to any dividends, and CREDITOR shall credit the debt with the amount of the dividends collected. CREDITOR may optionally reinvest the dividends, and any shares so purchased shall be subject to the pledge.

If OWNER is current in the obligation underlying this pledge, CREDITOR will release portions of the pledged stock as follows:

$______(_______________&____/100 dollars) per share.

Dated: _________________________________________

______________________________________________________________

Creditor

______________________________________________________________

Owner