LOAN AGREEMENT

1. LOAN AGREEMENT INSTRUCTIONS

This {Name of Agreement} shall be filled after completion of a _________________. And before _________________,
and before the issuance of the Loan. It constitutes a pro forma agreement between __________________________
[Lender], hereafter “Lender” and __________________________ [borrower], hereafter “Borrower”. All sections of this
Form are mandatory unless specified otherwise, and non-applicable fields must be filled with “N/A”. Failure to fill
and sign this form may result in nullification of terms, compensation, or replacement with another Form.

2. DEFINITIONS
The following terms, including abbreviations, legal phraseology, acronyms, and specific words or phrases are
sometimes used in this Agreement, and carry specific meanings as defined in this section. Terms used within this
agreement will be presumed to be understood, and Parties agree to look up or consult with legal counsel to obtain full
understanding of all terms, even terms not listed in this section.

_________________________________________________________________________________________________

_________________________________________________________________________________________________

_________________________________________________________________________________________________

_________________________________________________________________________________________________

3. PARTIES
The Lender and the Borrower, defined below, and sometimes referred to in this document as “Parties”, intend to enter
into this legally binding Painting Contract, hereafter sometimes referred to as “Agreement”, on this ________ day of
__________________, 20 ____, sometimes referred to in this document as “Effective Date.”

The party consisting of ________________________________________________[Lender], with principal place of

business _____________________________, with representative or officer ________________________, with phone
number ____________________ and email address or other contact information:
_________________________________________________________________________________

Shall be known within this Agreement as “Lender,” and is the party issuing the loan in exchange for interest payment
made by the other Party.

***

The party consisting of ________________________________________________[full name], with address of

residence _____________________________, with phone number ____________________ and email address or other
contact information: ______________________________________________________________________

Shall be known within this Agreement as “Borrower,” and is the party issuing interest payment, in exchange for a loan.

Page 1 of 4
4. PROVISIONS OF THE LOAN
The total principal amount of the loan is ______________________________________________________[numerical],

____________________________________________________________________________________________[text];

The Interest Rate of the loan is ______________________________%, and each payment of the loan shall include
interest according to the following terms:

_________________________________________________________________________________________________

_________________________________________________________________________________________________

________________________________________________________________________________________________;

And the loan amount plus interest rate shall be paid _________ per month over _______________ months, hereafter
“Payments”, on the _____________________________[day(s)] of the month (“Payment Date”), with the per-payment
amount of:_______________________________[numeric] ____________________________________________[text].

5. LATE PAYMENTS
[ ] In the case that a Payment is made more than ________ days but less than ______ days after the Payment Date,
an additional late fee shall be due of _______________________;

And in the case that a Payment is made more than ________ days but less than ______ days after the Payment Date,
an additional late fee shall be due of _______________________;

And in the case that a Payment is made more than ________ days but less than ______ days after the Payment Date,
an additional late fee shall be due of _______________________;

OR

[ ] If elected, late fees shall be charged as a percentage of _______________________________________, equal to

_______% per ________________[time period].

6. REMEDIES
When Conditions of Default are met, the Lender may conduct any of the following remedies:
1.) Termination of the Agreement upon any notice required, and the Term will immediately become forfeited and
void.
2.) The Lender has the option to perform any obligation of this Agreement or Parent Agreements, on behalf of the
Borrower, and seek redress from the Borrower.
3.) The Lender may perform or cause to be performed collection, including hiring of collection agencies, and seek
collections from the Borrower.

The existence of any remedy listed above does not preclude the Lender from exercising any other remedy or specific
right whether allowed by law, or provided by equity, or expressly provided for in parent Agreements.

7. PREPAYMENT
The borrower will not be subject to any penalties or damages due to early pre-payment of the loan balance.

Page 2 of 4
8. NONWAIVER
Failure of Parties to insist upon strict performance of the terms, covenants, and conditions herein contained, or to
exercise rights implied or expressed within this Agreement shall not be deemed a waiver of any Parties’ rights or
remedies herein, or any prior or subsequent rights or remedies.

9. SEVERABILITY
Any provisions of this Agreement that are found invalid, void, or unenforceable by a court of law in the Governing
Jurisdiction shall not preclude other provisions from remaining in-force.

Any alterations or improvements must be made in compliance with the laws of the Governing Jurisdiction, and any
alterations or improvements which fail to comply with the laws of the Governing Jurisdiction shall not change the
enforceability of the remainder of provisions of this Agreement.

Parties agree that, in the course of settling any disputes arising from any provision within this Contract, if the contract
shall be read by entities within a court of law, that, if any part of this Contract is deemed unenforceable by law, then
Parties intend to reduce the Contract by the minimum amount necessary to make the remainder of the Contract’s parts
enforceable.

10. PRIVACY POLICY

The privacy policy of the Lender is stated here for duplicate measure:

_____________________________________________________________________________________________

_____________________________________________________________________________________________

_____________________________________________________________________________________________

_____________________________________________________________________________________________

____________________________________________________________________________________________.

11. DISPUTE RESOLUTION

The venue for any disputes relating to or arising from the contract will be in the local jurisdiction where the Work is
created. When a legal action arises from the agreement, the prevailing party shall be awarded reasonable attorney fees
and court costs from the non-prevailing party.

If a dispute arises from this agreement and parties are unable to resolve their dispute, then both parties hereby agree
to seek mediation prior to filing a lawsuit. Mediator(s) should be a neutral third party which is mutually agreed upon
and chosen between both parties.

If either party initiates a lawsuit without attending mediation, then that party shall not be entitled to recovering
attorney fees and court costs even when otherwise entitled parties agreed to seek first mediation as a solution for any
disputes.

If both parties attend mediation and are unsuccessful in reaching a mutually agreeable resolution, then both parties
agree to attend legally binding arbitration. In this case, the arbitrator shall be mutually agreed upon by both parties and
be experienced in residential real estate law and shall include a written record of the arbitration hearing. By initialing
the spaces provided in both parties agree to attend arbitration if mediation is not successful. If both parties elect this

Page 3 of 4
arbitration clause and one party initiates a lawsuit without attending arbitration, then that party shall not be entitled to
recovering attorney’s fees and court costs even when otherwise entitled.
INITIALS _______ [Borrower] _______ [Lender]

12. GOVERNING LAW

This Agreement is subject to the law of ________________________________, and specific statutes:
______________________________________________________________________________________.

Any terms, covenants, promises, and provisions, whether express or implied, are voided if contradicted by governing
law. Parties are not obliged to comply with any terms that violate any Governing law or cause any illegal action. If any
terms are voided due to governing law, this does not affect other terms of this agreement, and all other terms of the
agreement within reason shall remain in full effect.

13. EXECUTION
IN WITNESS WHEREOF, on this _______ day of ____________________, 20 _____, (Execution Date) Parties
undersigned intending to be legally bound, have caused their duly authorized officers to execute and deliver this
binding Contract, to any successors, executors, heirs, administrators, and assigns, between the Parties formed into a
legal agreement under the Governing Law, effective as of the day and year first written.

_____________________________________ _______________________ __________________

Lender Signature Full Name, Printed Date

_____________________________________ _______________________ __________________

Borrower Signature Full Name, Printed Date

Page 4 of 4