Deposit Account Security and Control Agreement

Debtor/Depositor: [Name] · Secured Party (Lender): [Name] · Bank: [Bank Name] Account Number: [Reference securely] · Date: [Date]

1. Purpose

Debtor has granted Secured Party a security interest in the deposit account described above, under [Reference security agreement]. This Agreement establishes "control" over the account for purposes of perfecting that security interest under the UCC.

2. Bank's Agreement

Bank agrees to comply with instructions from Secured Party regarding disposition of funds in the account, without further consent from Debtor, once Secured Party delivers a notice of exclusive control (a "activation notice").

3. Debtor's Rights Before Activation

Until Bank receives an activation notice from Secured Party, Debtor may continue to access and use the account in the ordinary course.

4. Bank's Compensation and Liability

[State any fee Bank charges for maintaining this control arrangement, and confirm Bank's liability is limited to its own willful misconduct or gross negligence.]

5. Termination

This Agreement terminates upon Secured Party's written notice to Bank that the underlying security interest has been satisfied or released.

Debtor: ______________________ Date: ____________ Secured Party: ______________________ Date: ____________ Bank: ______________________ Date: ____________

*This document is provided for informational and educational purposes only and does not constitute legal advice. Under UCC Article 9, a lender generally cannot "perfect" a security interest in a deposit account just by having a security agreement — actual "control," established through an agreement like this one signed by the bank, is what's legally required, which is why lenders insist on this three-party document rather than relying on the borrower's promise alone.*