Subordination Agreement - California Department Of Business Oversight

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STATE OF CALIFORNIA –DEPARTMENT OF BUSINESS OVERSIGHT
SUBORDINATION AGREEMENT
DBO-EL 336 (Rev 5-16)
(1)
The undersigned, payee (s) on a promissory note dated___________________ (2), in the
amount of $____________________(3), payable by______________________________(4),
hereby agree and consent that said note shall be subordinated to all other claims of
creditors of the obligor on said note. This subordination agreement will terminate
on________________________________(5), and will not be rescinded or amended
without a thirty (30) day prior written notice to the Commissioner of Business Oversight.
Attached is a photocopy of the signed promissory note in support of this agreement.
Date:_________________________
___________________________________
Payee
___________________________________
Payee
___________________________________
Payee
(1)
Name and address of escrow company
(2)
Date
(3)
Amount
(4)
Name of escrow company (obligor)
(5)
Not less than one year (We recommend at least 2 years or more to avoid
renewal of subordination agreement to establish liquid position.)
If promissory note previously submitted, delete last paragraph.

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