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3 is used as a way to amend that original lien filing and do things like terminate the UCC, edit any of the details of the lien, or assign your interests to another secured party for the lien.
A UCC Cooperative Addendum is an additional document to a UCC-1 (Initial Financing Statement) which needs to be filled out when corrections have to be made to an UCC1 Cooperative.
UCC-3 party amendments: A UCC-3 amendment is a type of filing used to change or add critical information about the debtor or the secured party. Your questions answered: What is a UCC-3? | Wolters Kluwer wolterskluwer.com ? ucc-basics-ucc3s wolterskluwer.com ? ucc-basics-ucc3s
Now, for example, let's say you want to take a second mortgage with Bank#2. Bank#2 will search the Secretary of State records and find that Bank#1 has already lent you money. Bank#2 will not get its money back until Bank#1 has been paid in full so its interest is referred to as "subordinated".
Fill in the debtor's name and mailing address. It may be an individual, or it may be in the name of a business or organization. If the loan is in the name of the business, include the business mailing address. There is space for additional debtors. Include them exactly as they appeared on the loan agreement.