EX-10.3
from 8-K
6 pages
Security Interest. for Good and Valuable Consideration, the Receipt and Adequacy of Which Are Hereby Acknowledged, Borrower (Hereinafter Referred to as “Borrower,” Whether One or More) Pledges, Assigns and Grants to Secured Party a Security Interest and Lien in the Collateral (Hereinafter Defined) to Secure the Payment and the Performance of the Obligations (Hereinafter Defined). B. Collateral. the Security Interest Is Granted in the Following Collateral (The “Collateral”): 1. 100% (I.E. Currently 850,000 Shares, Evidenced by Stock Certificate No. 001) of the Outstanding Common Stock of Southern First Bank, Greenville, South Carolina. 2. Reserved
12/34/56