September 1, 2023





THIS AGREEMENT is made on the ………… of……….20……., (hereinafter “Effective
Date”) by the Lender of _________________________________________address, and the Borrower of 1498 Jefferson Ave APT 503 Miami Beach, FL 33139 address (collectively referred to as the “Parties” or individually as the “Party”) and includes that Party’s successors, heirs and assigns. In consideration of covenants and agreements contained in this Agreement, and other good and valuable consideration, the receipt of which is hereby acknowledged, Parties agree to the following terms and conditions and to be bound thereby: 1) Loan Amount: The total amount of money borrowed from the Lender to the Borrower is $ 150,000 (“Loan”). The Borrower agrees to pay the said Loan as provided in this Agreement. 2) Term: The total amount of the Loan, including principal and interest, shall be due and payable ten (10) years from the Effective Date (“Due Date”). 3) Payment: This Agreement, shall be due and payable, including the principal and any accrued interest, in the following ways:  Monthly Payments. The Borrower agrees to repay the Lender a payment of $______ on the ______________of each month until the Due Date.
 All payments made by the Borrower are to be applied first (1st) to any accrued
interest and then to the principal balance.

4) Interest: The loan shall bear interest at a rate of 3 % per month.
5) Prepayment: If the Borrower makes a payment prior to the Due Date, there shall be:
(select one)
☐ – A Prepayment Penalty of % of the principal amount prepaid.
☐ – No Prepayment Penalty
Any prepayments shall first be applied to interest, late charges and costs, if any, and
then to principal.
6) Security: As part of this Agreement, the Borrower agrees to: (select one)
☐ – Pledge Security. The Borrower agrees to secure this Agreement by pledging the
following collateral:
In the event the Borrower defaults under this Agreement, the Lender shall obtain
possession of the Collateral equal to the amount owed of which a sale may be required.

☐ – Not Pledge Security. This Agreement shall not be secured by any property or asset of
the Borrower.
7) Expenses:  In the event any payment under this Agreement is not paid when due, the
Borrower agrees to pay, in addition to the principal and interest hereunder, reasonable
attorneys’ fees not exceeding a sum equal to the maximum usury rate in the State of
Florida of the then outstanding balance owing on the Agreement, plus all other
reasonable expenses incurred by Lender in exercising any of its rights and remedies upon
The Borrower shall also be liable to pay for all HOA fee’s, Taxes and Monthly Mortgage
8) Dispute resolution: Parties agree to settle disputes under this Agreement through either;
☐Mediation ☐Arbitration ☐Litigation.
9) General provisions
● This Agreement may be amended only by the written consent of the Parties hereto.
● If any provision is held to be invalid or unenforceable, it shall not affect the validity or
enforceability of any other provision.
● This Agreement constitutes the entire agreement between the Parties. It supersedes all
prior oral or written agreements or understandings between the Parties concerning the
subject matter of this Agreement. The parties will exercise utmost good faith in this
● Except where otherwise provided, failure by either party to enforce any of these terms or
conditions shall not be a waiver of their right to enforce them. No waiver by either party
of any breach of, or of compliance with, any condition or provision of this Agreement by
the other party shall be considered a waiver of any other condition or provision or of the
same condition or provision at another time. The rights and remedies of the parties shall
be cumulative and may be pursued singly, successively, or together, in the sole discretion
of the that party.
● This Agreement may be executed in any number of counterparts, each of which shall be
an original and all of which constitute the same instrument.
● The Article and Section headings in this Agreement are for convenience, and they form
in no part of this Agreement and shall not affect its interpretation.
● Whenever used herein, the singular number shall include the plural, and the plural
number shall include the singular.
● Any references herein to the masculine gender or the masculine form of any noun,
adjective, or possessive shall be construed to include the feminine or neuter gender and
form, and vice versa.
● This Agreement shall be governed in all respects by the laws of Florida, and its Courts
without regard to its conflict of law provisions.
IN WITNESS WHEREOF, each of the Parties has executed this Agreement, as set forth below.
Signed by the LENDER


Signed by the BORROWER


Date: Date:
The Guarantor, known as ________, agrees to be liable and pay the Loan
Amount, including principal and interest, in the event of the Borrower’s default. The Guarantor
agrees to be personally liable under the terms and obligations of the Borrower in this Agreement.
Guarantor’s Signature: _________ Date: _
Print Name: ________

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