Bank Loan Agreement

Bank loan agreement. Includes terms for variable interest rate, fixed interest rate, and payent options.

Enter the name of the BORROWER, referred to as BORROWER, and Enter the name of the BANK, referred to as BANK, agree:

That the BANK shall lend sums of money to the BORROWER from time to time, including:

Include the following if the loan shall be: A variable interest rate

Principal amount: $ Enter the amount of the loan in numerals (Enter the amount of the loan in numerals dollars)

The initial rate for the loan shall be: Enter the initial interest rate for the loan%

The interest rate shall be adjusted every Enter the number of days between adjustments days from the closing date of the loan

The first adjustment shall take place on Enter the date for the first adjustment in interest rate

The overall maximum rate for the loan shall be: Enter the overall minimum rate of interest%

The rate on the loan shall not be less than: Enter the maximum change of interest rate per adjustment%

The reference rate used for adjustment shall be: 637

Include the following if the loan shall be: A fixed interest rate

The BANK shall lend the BORROWER the sum of $ Enter the amount of the loan in numerals (Enter the amount of the loan in numerals dollars) at an interest rate of Enter the interest rate for the loan per cent, compounded The loan interest rate will be compounded. This is equivalent to an ANNUAL PERCENTAGE RATE (as calculated under Regulation Z) of Enter interest rate as an APR under Regulation Z %.

The advance made herein shall be evidenced by a promissory note. The following will be the terms of repayment:

Include the following if the loan shall be paid in: Installments

The note shall be paid in following installments:

Enter the installments

Include the following if the loan shall be paid in: In a single payment

The note shall be due, in full, on Enter the date when the note is due.

BORROWER assigns to BANK any and all deposits with BANK as additional collateral to BANK. Upon default, BANK shall be entitled to set off the deposits in satisfaction of any sum due to BANK by the BORROWER.

At all times that BORROWER is indebted to BANK, BORROWER shall maintain a minimum deposit balance with the BANK of $ Enter the amount of the offsetting deposit in numerals (Enter the amount of the offsetting deposit in numerals dollars) in Enter the name of the account account.

The BORROWER will provide to BANK a financial statement every Statement to be provided (in months) months.

The BORROWER shall not use the proceeds of this loan for household, personal or family obligations.

The BORROWER represents that the loan proceeds will be used for business purposes.

The BORROWER shall maintain a life insurance policy in the following amounts related to the following individuals:

Individuals: Enter names of individuals to be insured

Amounts: Enter amounts of insurance per individual

THe BORROWER shall not be required to obtain the same through BANK and may assign policies from insurers licensed to offer life insurance in the State of Enter state where loan is to be repaid.

The BORROWER shall maintain a credit disability insurance policy in the following amounts related to the following individuals:

Individuals: Enter names of individuals to be insured

Amounts: Enter amounts of insurance per individual

The BORROWER shall not be required to obtain the same through BANK and may assign policies from insurers licensed to offer credit disability insurance in the State of Enter state where loan is to be repaid.

The extension of credit made herein shall be secured by a lien on the following property:

Enter property to be liened

and BORROWER shall execute such financing statements and security interests as BANK may reasonably require from time to time to perfect its security interest.

Date

Enter the name of the BORROWER

Enter the name of the BANK

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