| The legal title or ownership of personal property pledged remains in the debtor or pledgor. |
| A pledgor has the right to have his pledged property returned to him upon payment of the debt secured by the pledge. |
| If the pledgor fails to pay the debt secured when due, the pledgee has the right to enforce his pledge. |
| We recommend the use of this agreement to evidence a relationship in which the pledgor hypothecate its shares to warrant the payment of a sum to the creditor. |
| In other cases, if the record remains unchanged, the pledgor can vote the stock. |
| Even in this event, the sale will not be held valid unless it is public and fair in every way to the interests of the pledgor. |
