Texas Loan Agreement
This Loan Agreement ("Agreement") is made and entered into on this ___ day of __________, 20__, by and between:
Borrower: ___________________________
Address: ___________________________
and
Lender: ___________________________
Address: ___________________________
This Agreement shall be governed by the laws of the State of Texas.
1. Loan Amount
The Lender agrees to loan the Borrower the sum of ___________________________ dollars (the "Loan Amount").
2. Interest Rate
The Loan Amount shall bear interest at the annual rate of ___________________________ percent.
3. Repayment Terms
- The Borrower shall repay the Loan Amount along with accrued interest in ___________________________ monthly installments.
- The first payment shall be due on ___________________________.
- Payments shall be made to the Lender at the above address or another location as designated by the Lender.
4. Prepayment
The Borrower may prepay this Loan, in whole or in part, without penalty. Any prepayment shall first be applied to accrued interest before being applied to the Loan Amount.
5. Default
If the Borrower fails to make any payment within ___________________________ days of its due date, the Lender may, at their discretion, declare the entire unpaid balance of this Agreement immediately due and payable.
6. Governing Law
This Agreement shall be governed, construed, and enforced in accordance with the laws of the State of Texas.
7. Miscellaneous
- This Agreement may only be amended in writing signed by both parties.
- If any provision of this Agreement is found to be unenforceable, the remaining provisions will continue in full force.
- This Agreement constitutes the entire understanding between the parties.
In witness whereof, the parties have executed this Loan Agreement as of the date first above written.
_____________________________
Borrower: ____________________________
_____________________________
Lender: ____________________________