Docstoc

Loan Agreement

Document Sample
Loan Agreement Powered By Docstoc
					This short form loan agreement is a contract between a borrower and a lender, outlining
the terms of a loan and its repayment. This short-form template document in its draft
form contains numerous of the standard clauses commonly used in these types of
agreements, as well as optional language to allow for customization to ensure the
specific terms of the parties' agreement are addressed. The parties can set the loan
amount, the interest rate, and the monthly payment installments.
                                LOAN AGREEMENT

THIS AGREEMENT (the “Agreement”) is made on the [DAY] of [MONTH] [YEAR] between:

[NAME OF PARTY 1 (BORROWER)] residing at [ADDRESS 1] hereinafter referred to as "the
Borrower”; and

[NAME OF PARTY 2 (LENDER)] residing at [ADDRESS 2] hereinafter referred to as "the
Lender", and together with Borrower the “Parties.”

IN CONSIDERATION of the advancement of funds under the terms and conditions of this
Agreement and other good and valuable consideration, the Parties agree as follows:

       On the execution of this Agreement the Lender agrees to lend to the Borrower the sum of
       [AMOUNT] ("the Loan") on the terms and conditions set out in this Agreement.

       Interest on the Loan shall be calculated at a monthly rate of one twelfth of a nominal
       annual rate, the nominal annual rate being [PER CENT] per cent per annum and shall be
       charged on the balance of the Loan outstanding on a monthly basis. Said interest shall be
       payable by the Borrower to the Lender monthly in arrears.

       The Borrower agrees to repay the Loan on demand.

       The monthly installments of [MONTHLY AMOUNT] have been calculated to allow the
       Loan [and interest thereon] to be repaid in full within [MONTHS] months.

       The Borrower may repay the Loan (and interest accrued thereon) at any time after the
       date of this Agreement without penalty.

IN WITNESS HEREOF these presents are executed on the date before written:

SIGNED by [THE BORROWER]


___________________________________
[BORROWER NAME]

in the presence of

Signature of witness:


____________________________________
© Copyright 2013 Docstoc Inc.                                                          1
Name of witness:
Address of witness:


SIGNED by [THE LENDER]


___________________________________

In the presence of

Signature of witness:

___________________________________
Name of witness:
Address of witness:




© Copyright 2013 Docstoc Inc.         2
INFORMATION AND FORMS ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND
INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS
FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL DOCSTOC, INC., OR ITS AGENTS, OFFICERS, ATTORNEYS,
ETC., BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF
PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE
THE MATERIALS, EVEN IF DOCSTOC HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. They are for
guidance and should be modified by you or your attorney to meet your specific needs and the laws of your state or jurisdiction. Use at
your own risk. Docstoc® is NOT providing legal or any other kind of advice and is not creating or entering into an Attorney-Client
relationship. The information, reports, and forms are not a substitute for the advice of your own attorney. The law is a personal matter
and no general information or forms or like the kind Docstoc provides can always correctly fit every circumstance.

Note: Carefully read and follow the Instructions and Comments contained in this document for your customization to suit your specific
circumstances and requirements. You will want to delete the Instructions and Comments from open bracket (“[“) to close bracket (“]”)
after reading and following them. You (or your attorney) may want to make additional modifications to meet your specific needs and the
laws of your state. The Instructions and Comments are not a substitute for the advice of your own attorney.

◊ Where within this document you see this symbol: ◊ or an instruction states “Insert any number you choose◊,” or something similar, or
there is a blank for the user to complete, please note that although Docstoc believes the information or number may be any that the user
chooses, and that there is no law governing what the information or number should be, you might want to verify this, including by
consulting with your own attorney practicing in your state. Because the law is different from jurisdiction to jurisdiction and the laws are
subject to change, Docstoc cannot guarantee—and disclaims 
				
DOCUMENT INFO
Description: This short form loan agreement is a contract between a borrower and a lender, outlining the terms of a loan and its repayment. This short-form template document in its draft form contains numerous of the standard clauses commonly used in these types of agreements, as well as optional language to allow for customization to ensure the specific terms of the parties' agreement are addressed. The parties can set the loan amount, the interest rate, and the monthly payment installments.
Customize This Document Instantly download your personalized document Guided Fill-in-the-Blank Process
This document is also part of a package Commercial Real Estate Starter Kit 9 Documents Included