#7900
@001 Enter the name of the OWNER of the shares:
@002 Enter the name of the CREDITOR:
!790 Enter the amount owed to CREDITOR:
@800/@800/@800 Enter the reason for the debt:
unpaid balance for purchase of the stock
a note
KEY IN VALUE
@791 Enter number of shares to be pledged:
@792/@792/@792 Enter the class of shares to be pledged:
Common
Preferred
KEY IN VALUE
@793 Enter the name of the issuer of the stock:
#7901 Will the CREDITOR have the right to vote the shares?
#7902 Will the CREDITOR receive dividends?
#7903 Will the CREDITOR issue partial releases of the shares?
#if#7903
!200 Enter the release price per share:
#endif
#7904
#end control section
#7900
/* Para. 7900: Pledge of stock for a debt */

                           PLEDGE OF STOCK


@001, referred to as OWNER, and @002, referred to as CREDITOR,
agree:


OWNER is indebted to CREDITOR in the sum of $ @790 (!790
dollars) for @800;


to secure repayment of the debt, OWNER pledges to CREDITOR @791
shares of @792 stock of @793.


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


#7901
/* Para. 7901: Voting by pledge holder */

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

#7902
/* Para. 7902: Dividends, paid to CREDITOR */

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.

#7903
/* Para. 7903: Partial release */

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


$@200 (!200 dollars) per share

#7904
/* Para. 7904: end */

Dated: _________________________________________





______________________________________________________________

@001





______________________________________________________________
@002