Shareholder Loan Agreement _____________________________, referred to as BORROWER, and _____________________________, referred to as SHAREHOLDER(s), agree: That the SHAREHOLDERS shall lend sums of money to the BORROWER from time to time, for a total Principal amount of $__________ _____________________________&___/100 dollars) The initial rate for the loan shall be _____% simple interest per year. The interest rate may be adjusted periodically by mutual agreement between the shareholders and the borrower. However, the overall maximum rate for the loan shall not exceed _____% nor shal it be less than ____%. The reference rate used for adjustment shall be in accordance with the rates established pursuant to regulations of the Internal Revenue Service. The advance made herein shall be evidenced by a promissory note. The following will be the terms of repayment: The note shall be due, in full, on ___________________. The BORROWER represents that the loan proceeds will be used for business purposes. Dated: ____________________________ _________________________________________________ Borrower ________________________________________________ Bank