January 15, 2024


_____________________ (THE “LENDER”)


___________________ (THE “BORROWER”)

THIS AGREEMENT is made on the ………… of……….20……., (hereinafter “Effective
Date”) by the Lender of _______________________________________________address, and
the Borrower of __________________________________________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: ("Loan") refers to the sum of money that has been borrowed from the
Lender by the Borrower. The Loan Amount is $________________. The terms of the
Borrower’s agreement to repay the aforementioned Loan can be found in this Agreement.
2) Term: After the Effective Date, the complete amount of the Loan, which includes both
the principal and the interest, will be due and payable within a period of
_______________denoted as the "Due Date".
3) Payment: The principal and any interest that has accumulated, will become due and
payable as follows:
 Requirement of Monthly Payments. The borrower has committed to making a
payment to the lender in the amount of $__________ on the ______________of
each and every month leading up to the Due Date.
 The borrower is responsible for making all payments, and those payments are to
be applied, first (1st), to any interest that has accrued, and then, second (2nd), to
the principal balance.

4) Interest: The loan will have interest applied to it at a rate of ___________% every
5) Prepayment: In the event that the Borrower makes a payment in advance of the Due
Date, the following provisions shall apply: (select one)
☐ – A prepayment penalty equal to _________% of the amount of the principal that was
☐ – There is no penalty for prepayment
Any prepayments made will first be applied to any applicable interest, late fees, and
costs, and only then will they be applied to the principal.

6) Security: The Borrower acknowledges that as a condition of this Agreement, they are
required to: (select one)
☐ – Pledge Security. The Borrower acknowledges and accepts that in order to protect this
Agreement, he or she must pledge the following collateral:
In the event that the Borrower fails to comply with the terms of this Agreement, the
Lender will be entitled to take possession of the Collateral in an amount equivalent to the
amount outstanding, which may be subject to sale.
☐ – 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 Lender’s
State 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 default.
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
Arbitration under the rules of the American Arbitration Association.
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 the Lender’s jurisdiction,
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


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: _____________

At Legal writing experts, we would be happy to assist in preparing any legal document you need. We are international lawyers and attorneys with significant experience in legal drafting, Commercial-Corporate practice and consulting. In the last few years, we have successfully undertaken similar assignments for clients from different jurisdictions. If given this opportunity, The LegalPen will be able to prepare the legal document within the shortest time possible. You can send us your quick enquiry ( here )