Free Loan Agreement Template
LOAN AGREEMENT
PARTIES
This Loan Agreement is entered on the 2nd day of May 2050 between:
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Greenlit Bank (henceforth referred to as "Lender"), based at Milwaukee, WI 53202, and
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Jennifer Hill (henceforth referred to as "Borrower"), located at Tucson, AZ 85701.
LOAN TERMS
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The principal loan amount is USD 10,000.
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The annual interest rate is 5%.
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The loan is to be repaid in 12 monthly installments commencing from May 02, 2050.
COLLATERAL OR SECURITY
No collateral or security is required for this loan agreement.
LATE PAYMENT AND PREPAYMENT
In case of late payment, fees might apply as per Lender’s policy. The Borrower is entitled to repay the loan before the due date without attracting any prepayment penalties.
GOVERNING LAW
This agreement shall be governed and construed in accordance with the laws of the state of New York.
DISPUTE RESOLUTION
All disputes under this agreement that cannot be resolved by the parties shall be submitted to arbitration under the rules and regulations of the American Arbitration Association.
SIGNATURES
Both the Lender and the Borrower agree to adhere to all the terms and conditions mentioned in this agreement.
Party A:
Party B:
