LOAN CONTRACT
THIS LOAN AGREEMENT (this "Agreement")
BETWEEN:
__________ of ______________________________________
(the "Lender")
AND
__________ of ______________________________________
(the "Borrower")
IN CONSIDERATION OF ... Lender loaning certain monies (the "Loan") ... the Borrower, ... the Borrower repaying ... Loan ... the Lender, both parties agree ... keep, perform ... fulfill ... promises ... conditions set out ... this Agreement:
Loan Amount & Interest
The Lender promises ... loan $____________________USD ... the Borrower ... the Borrower promises ... repay this principal amount ... the Lender, without interest payable ... the unpaid principal, beginning ... ......, 202....
Payment
This Loan ... be repaid ... full ... ......, 202...
Default
Notwithstanding anything ... the contrary ... this Agreement, if ... Borrower defaults ... the performance of any obligation under this Agreement, then ... Lender may declare ... principal amount owing under this Agreement at that time ... be immediately due ... payable.
Governing Law
This Agreement ... be construed ... accordance with ... governed by ... laws of ... State of ................
Costs
The Borrower shall be liable for all costs, expenses ... expenditures incurred including, without limitation, ... complete legal costs of ... Lender incurred by enforcing this Agreement as a result of any default by ... Borrower ... such costs ... be added ... the principal then outstanding ... shall be due ... payable by ... Borrower ... the Lender immediately upon demand of ... Lender.
Binding Effect
This Agreement ... pass ... the benefit of ... be binding upon ... respective heirs, executors, administrators, successors ... permitted assigns of ... Borrower ... Lender. ... Borrower waives presentment for payment, notice of non-payment, protest, ... notice of protest.
Amendments
This Agreement may only be amended ... modified by a written instrument executed by both ... Borrower ... the Lender.
Severability
The clauses ... paragraphs contained ... this Agreement are intended ... be read ... construed independently of each other. If any term, covenant, condition ... provision of this Agreement ... held by a court of competent jurisdiction ... be invalid, void ... unenforceable, it ... the parties' intent that such provision be reduced ... scope by ... court only ... the extent deemed necessary by that court ... render ... provision reasonable ... enforceable ... the remainder of ... provisions of this Agreement ... in no way be affected, impaired ... invalidated as a result.
General Provisions
Headings are inserted for ... convenience of ... parties only ... are not ... be considered when interpreting this Agreement. Words ... the singular mean ... include ... plural ... vice versa. Words ... the masculine mean ... include ... feminine ... vice versa.
Entire Agreement
This Agreement constitutes ... entire agreement between ... parties ... there are no further items ... provisions, either oral ... otherwise.
IN WITNESS WHEREOF, ... parties have duly affixed their signatures under hand ... seal ... this
SIGNED, SEALED, ... DELIVERED
this ________ day of ________________, ________.
_____________________________
SIGNED, SEALED, ... DELIVERED
this ________ day of ________________, ________.
_____________________________
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