6-month term / 35% Interest

This Loan Agreement (this “Agreement”), is made as of this 11 day XXXX . by and between XXX, located at XXX ("Borrower"), and XXX  LLC,
located at XXX (“Lender”). (the “Effective Date”) of this loan
agreement shall be 10 days from the start date of the loan. The loan start date shall be the date the
borrower has received the total loan amount from the lender.
The parties agree as follows:

1. (the “Effective Date”) of this loan agreement shall be 10 days from the start date of the loan. The
loan start date shall be the date the borrower has received the total loan amount from the lender. If the
borrow does not received the total amount of the loan or had not received the full amount of the loan
within 15 days of both parties signing this loan agreement, or has received a partial loan amount from the
lender, this loan agreement becomes invalid and if any funds under this clause were received by the
borrower from the lender, the borrow must remit all funds back to the lender within 14 days unless
otherwise agreed upon by both parties.
2. Loan Amount. Lender agrees to loan Borrower the principal sum of $1,000.00 (the “Loan”), together
with interest on the outstanding principal amount of the Loan (the "Principal Balance"), and in accordance
with the terms set forth in this agreement.
3. Interest.  The Principal Balance shall bear interest at the rate of 35% one time. Notwithstanding, the
total interest charged shall not exceed the maximum amount allowed by law and Borrower shall not be
obligated to pay any interest in excess of such amount.
4. Late Fee/Failure to Repay on time. If Borrower fails to make a payment due under this Agreement
within thirty (30) days after the due date, Borrower agrees to pay to Lender a late payment fee of 1% of
the amount then due. The borrower shall have two years from the date the loan is due to pay the lender
back in full before the lender can invoke the guarantor clause of this agreement. The borrow also agrees
to pay the lender ½% of the total amount due per month, after 60 days of being past due, til the full
amount of due is paid, or the loan reaches the two years mark, and the lender is able to invoke the
guarantor clause.
5. Guarantor Clause: In the event MJ Enterprise Solutions becomes insolvent or unable to pay the
lender in full the amount due according to this agreement. The lender may seek repayment from Milton

Jackson, sole owner of XXX  LLC according to the terms of this agreement and all
applicable state laws.
6. Demand/Repayment/Rollover of Loan. (Demand) the lender may demand repayment of their loan
any time after the effective date of this agreement, by notifying the borrow according to notices listed in
this agreement. If the lender demands repayment of the loan before the maturity date of the loan, then the
lender is only entitled to the loan principle and no interest that would have otherwise been due according
to this agreement, also the lender may select which ever method they would like to receive their funds
according to this agreement. (Repayment) The Loan together with accrued and unpaid interest and all
other charges, costs and expenses, is due and payable on or before six months and two weeks after the
start date of the loan agreement. The lender may select how they would like to receive the total amount
due according to the terms listed in this agreement. (Rollover) if both parties agree the lender may agree
to rollover the principle, or the principle plus interest into a new agreement with borrower. If on the
maturity of the loan, the lender has not instructed the borrow by the acceptable means of communication
according to this agreement, the borrow may roll over the lender’s principle plus interest into the same
loan agreement and may continue to keep rolling over the lenders principle plus interest for a period of
two years, unless the lender instructs the borrow to do otherwise. If the lender has not made contact with
the borrow after two years the borrower, must start the process to turn over the funds to the State Of PA
Unclaimed property dept or any other government body having jurisdiction
7. Payment/Repayment Methods.XXX LLC shall determine at any time what’s
acceptable means of receiving funds from lenders and returning any funds to lenders. If they decide to
modify this section of the agreement, they must notify the lender within 14 days of said changes.
Acceptable means of a lender sending funds to the borrower shall be A. check or Cashier check by mail,
or wire transfer, or echeck by electronic means. The borrow shall provide the lender with specific details
as to how to exactly use each method. If the lender does not follow the specific directions from the
borrower at the time of sending the funds, the borrower shall not be held liable for any losses as a result
of sending funds to the borrower. The lender agrees to receive payments by echeck, which the lender
agrees to provide the borrow with an updated email prior to receiving payments or check by mail. If the
lender selects check by mail, they must provide the borrow with an updated physical address prior to
sending funds. The lender may also to select to have their funds expressed delivered, if a lender selects
express delivery, they shall incur a $60 fee deducted from the total amount due, they shall receive their
funds within 7 days of the funds being approved by the borrower, and they must have a valid email on file
and willing to have their funds delivered by echeck. If borrower tries to repay lender and lender does not
receive funds due to bank error or lenders error, the borrow shall not be held liable or in breach of this
8. Maturity Date. The maturity date of this loan agreement shall be 6 months from the effective date of
this loan agreement
9. Cessation: not sure what to put here, how should I the lender receive there funds incase I go out of
business or I become incapacitated
10. Prepayment.  Borrower has the right to prepay all or any part of the Loan, together with accrued and
unpaid interest thereon, at any time without prepayment penalty or premium of any kind.

11. Remedies. Lender may enforce its rights or remedies in equity or at law, or both, whether for specific
performance of any provision in this Agreement or to enforce the payment of the Loan or any other legal
or equitable right or remedy. The rights and remedies of Lender now or hereafter existing at law or in
equity or by statute or otherwise shall be cumulative and shall be in addition to every other such right or
12. Costs and Expenses. Borrower shall pay to Lender all costs of collection, including reasonable
attorney’s fees, Lender incurs in enforcing this Agreement.
13. Waiver.  Borrower and all sureties, guarantors and endorsers hereof, waive presentment, protest and
demand, notice of protest, demand and dishonor and nonpayment of this Agreement.
14. Successors and Assigns.  This Agreement will inure to the benefit of and be binding on the
respective successors and permitted assigns of Lender and Borrower.

15. Amendment. This Agreement may be amended or modified only by a written agreement signed by
Borrower and Lender.
16. Notices. Any notice or communication under this Loan must be in writing and sent via one of the
following options:
● Electronic Email Transmission
● Delivery in Person
● Certified or Registered Mail (Postage Prepaid, Return Receipt Requested)
17. No Waiver. Lender shall not be deemed to have waived any provision of this Agreement or the
exercise of any rights held under this Agreement unless such waiver is made expressly and in writing.
Waiver by Lender of a breach or violation of any provision of this Agreement shall not constitute a waiver
of any other subsequent breach or violation.
18. Economic Disaster Clause: XXX LLC at its own discretion may declare an
economic disaster, and as frequently as they so choose. If an economic disaster is declared by XXX  LLC, they must notify the lender by acceptable means of communication listed in this
agreement that an economic disaster has been declared, list the options of how the lender may receive
loan principle, and interest. The interest due on any principal amount if an economic disaster is declared
shall be prorated according to how many months the loan has been effective. For example, if the lender
had a six-month term agreement with 30% interest and the economic disaster was declared in the 4 th
month of the loan then, 30% Interest divided by 6-month term = 5%, 5% times 4 months loan was active =
20%, then 20% interest would be due plus the loan principle. The lender once they receive the notice
must select a method, they would like to receive their funds according to the options listed on the
economic disaster notice along with their signature. Once the borrow has received the selected return
method and signed notice, the borrow shall have 21 days to return the total due to the lender from the
date of having received the signed and selected return method from the economic disaster notice. If the
borrow fails to return the total amount due to the lender, then it will have been as no economic disaster
was declared and the regular terms of this agreement shall be in full force. If the lender receives a copy of

the economic disaster notice and does not forward a signed company along with a selected method to
returns the funds to the lender, the borrow shall not be held liable or in breach of this agreement.
19. Severability. In the event that any of the provisions of this Agreement are held to be invalid or
unenforceable in whole or in part, the remaining provisions shall not be affected and shall continue to be
valid and enforceable as though the invalid or unenforceable parts had not been included in this
20. Assignment. Borrower shall not assign this Agreement, in whole or in part, without the written
consent of Lender. Lender may assign all or any portion of this Agreement with written notice to Borrower.
21. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of
the Commonwealth of Pennsylvania, not including its conflicts of law provisions.
22. Disputes. Any dispute arising from this Agreement shall be resolved through mediation. If the dispute
cannot be resolved through mediation, then the dispute will be resolved through binding arbitration
conducted in accordance with the rules of the American Arbitration Association.
23. Entire Agreement. This Agreement contains the entire understanding between the parties and
supersedes and cancels all prior agreements of the parties, whether oral or written, with respect to such
subject matter.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first stated above.


Borrower Signature Borrower Full Name


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