Common Contracts
1 similar Lienholders Agreement contracts
SUBJECT: Lienholders Agreement between EIC and Dacotah Bank concerning monetary grants and loans issued by the parties to Prairie Gold Real Estate LLC (dba Killdeer Mountain Manufacturing).Lienholders Agreement • November 29th, 2022
Killdeer is working with its bank on a loan for its building across from the airport. The bank will be making a loan secured by a lien junior to the EIC’s existing deeds of trust (liens). Thus, the bank would like EIC to enter into the attached Lienholders Agreement which sets out actions that the EIC needs to take – notice, etc. – so that the bank can protect its interests in the loan, prior to any foreclosure and potential sale by EIC. It’s a typical agreement that is sometimes entered into between senior and junior lien holders as the request of the junior lien holders, which basically sets out expectations of each, as both have liens on the same property interests. The EIC’s attorney will review the agreement with the EIC and answer any questions.
