Loan Agreement
LOAN AGREEMENT
This Loan Agreement ("Agreement") is made and entered into as of this ___ day of ________, 20, by and between:
Lender: [Your Name or Entity Name]
Address: [Your Address]
(Hereinafter referred to as "Lender")
AND
Borrower: Cameron Jones
Address: [Borrower's Address]
(Hereinafter referred to as "Borrower")
RECITALS
WHEREAS, the Lender agrees to lend a certain amount of money to the Borrower, and the Borrower agrees to repay the loan according to the terms and conditions set forth herein.
AGREEMENT
1. LOAN AMOUNT
The Lender agrees to lend the Borrower the sum of ONE THOUSAND DOLLARS ($1,000.00) (âLoan Amountâ) on the date of execution of this Agreement.
2. LOAN TERM
The Borrower agrees to repay the total sum of FIFTEEN HUNDRED DOLLARS ($1,500.00) to the Lender by Friday, ________, 20.
3. LATE PAYMENT
If the Borrower fails to repay the Loan Amount by the due date stated in Section 2, the Borrower agrees to pay an additional ONE HUNDRED DOLLARS ($100.00) for each week that the payment remains outstanding until the total amount is paid in full.
4. PAYMENT METHOD
Payments shall be made by cash, certified check, or electronic funds transfer to the account designated by the Lender.
5. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the state of North Carolina.
6. ENTIRE AGREEMENT
This Agreement constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all prior agreements, understandings, and negotiations, whether oral or written.
7. AMENDMENTS
This Agreement may not be amended or modified except in writing signed by both parties.
8. SEVERABILITY
If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.
9. WAIVER
No waiver of any term or condition of this Agreement shall be deemed to be a waiver of any other term or condition or of any subsequent breach of the same or any other term or condition.
10. NOTICES
All notices, requests, demands, and other communications under this Agreement shall be in writing and shall be deemed to have been duly given when delivered personally or sent by certified mail, return receipt requested, to the parties at the addresses set forth above or such other addresses as either party may specify in writing.
11. ASSIGNMENT
Neither party may assign their rights or obligations under this Agreement without the prior written consent of the other party.
12. BINDING EFFECT
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
IN WITNESS WHEREOF, the parties hereto have executed this Loan Agreement as of the date first above written.
LENDER:
[Your Name or Entity Name]
Signature: __________________
Date: ______________________
BORROWER:
Cameron Jones
Signature: __________________
Date: ______________________
Note: This template is intended to provide a general structure for a loan agreement. It is advisable to consult with a licensed attorney to ensure compliance with all applicable laws and regulations specific to your situation.