can there be a security agreement that will make it clear of who the debtor and creditor is give me a example please

Certainly! A security agreement is a legal document that outlines the terms under which a debtor gives a creditor a security interest in a specified asset or property. This agreement clarifies the parties involved (the debtor and creditor) and their respective rights and responsibilities. ### Example of a Security Agreement **Security Agreement** **Date:** [Insert Date] **Parties:** 1. **Debtor:** Name: Jane Doe Address: 123 Main Street, Springfield, IL 62701 Phone: (123) 456-7890 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. 2. **Creditor:** Name: ABC Lending Co. Address: 456 Finance Blvd, Springfield, IL 62701 Phone: (098) 765-4321 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. **Recitals:** WHEREAS, the Debtor owes the Creditor the sum of $10,000 (the "Debt") for a loan that was disbursed on [Insert Date of Loan Disbursement]; WHEREAS, the Debtor agrees to grant the Creditor a security interest in certain assets to secure the payment of the Debt. **Agreement:** 1. **Grant of Security Interest:** The Debtor hereby grants to the Creditor a security interest in the following collateral (the "Collateral"): - A 2020 Toyota Camry, VIN: 1HGBH41JXMN109186 2. **Obligation:** The Debtor promises to pay the Debt according to the terms of the loan agreement dated [Insert Date of Loan Agreement]. 3. **Default:** If the Debtor fails to make payments as outlined in the loan agreement, the Creditor shall have the right to take possession of the Collateral and sell it to satisfy the Debt. 4. **Representations and Warranties:** The Debtor represents and warrants that: - They have full authority to grant this security interest. - The Collateral is free from any other liens or security interests. 5. **Governing Law:** This Agreement shall be governed by the laws of the State of Illinois. **Signatures:** ___________________________ **Jane Doe, Debtor** Date: ______________ ___________________________ **Authorized Representative, ABC Lending Co., Creditor** Date: ______________ --- This example clearly identifies the debtor and creditor, outlines the specific obligations of the debtor, the collateral securing the obligation, and other key terms of the agreement. Both parties sign and date the document to indicate their agreement to the terms. Always consider consulting an attorney when drafting legal documents to ensure compliance with local laws and regulations.