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a a GENERAL SUBORDINATION AGRREMENT 86, 108228 In consideration of financial accommodations given or to be given . or continued to v herein called the " Borrower," q,.r a, G co iid�i Qn_ herein called the "Bank," the Borrower an the un ers gnedo whom the Borrower is Indebted, herein called the "Creditors," whether one or more than one Creditor executes this Agreement, agree with the Bank as follows: 1. The term "Superior Indebtedness," as use herein, shall be deemed to mean and include the principal of and interest•on all liabilities of the Borrower to the Bank, direct or contingent, joint, several or independent, now or hereafter existing; due or to become due to, or held or to be held by, the Bank, whether created directly or acquired by assignment or otherwise. 2. The term "Subordinated Indebtedness," as used herein, shall be deemed to mean and include all indebtedness of the Borrower to the Creditors now existing, or hereafter arising, including interest thereon, but not in excess of the principal sum of $�1�27g`9q_�_of said Indebtedness, with interest, at any one time outstanding. 3. The Creditors represent and warrant to the Bank that the total principal amount of all indebtedness of the Borrower to the Creditors at the date of this instrument is $_L8,270.00 ----------- 4. The Subordinated Indebtedness howsoever evidenced is not to be payable, and no payment on account thereof, whether by way of loan or otherwise nor any security therefor, shall be made or given by the Borrower or received, accepted or retained by the Creditors, or any of them, unless and until the Borrower has paid and satisfied 'n full the Superior indebtedness. Anything herein contained to the contrary notwithstanding, until a default or an event which with the laspe of time, or notice and lapse of time,would become a default_ on the Superior Indebtedness has occurred and is continuing or until written notice from the Bank to the Borrower, the Borrower may pay interest, and the Creditors may receive, accept and retain interest, on the Subordinated Indebtedness. 5. The Creditors agree not to assign or subordinate all or any part of the Subordinated Indebtedness except to or in favor of the Bank. Should any payment or security be received by the Creditor or any of them, as in paragraph 4 hereof prohibited, whether by way of agreement of compromise or otherwise, the Creditors receiving such payment or security forthwith shall deliver the same to the Bank in precisely the form received (but with the endorsement of the Creditors receiving the same where necessary) for application on account ofthe Superior Indebtedness, and the Creditors agree that, until so delivered, L J � W