Private Loan Agreement

This loan agreement ("Agreement") is entered into and made effective this [DATE] (the "Effective Date" ), by and between: [YOUR NAME], (the "Lender"), and [Borrower's Full Name], (the "Borrower").

Background:

The Lender agrees to provide a loan to the Borrower under the terms and conditions outlined in this Agreement.

Loan Details:

Loan Amount: The Lender agrees to lend the Borrower the sum of $10,000.00 (Ten Thousand dollars).
Interest Rate: The loan shall accrue interest at a fixed rate of 5.00 percent (5.00%) per annum.
Repayment Schedule: The Borrower shall repay the loan in 12 equal monthly installments of 868.12 dollars ($868.12), commencing on May 1st, 2050. The final payment shall include any remaining balance plus accrued interest.
Prepayment: The Borrower reserves the right to prepay the outstanding balance of the loan at any time without penalty.
Late Payments: In the event of a late payment, the Borrower shall be liable for a late fee of 50.00 dollars ($50.00) for each late payment.

Representations and Warranties:

Borrower's Representation: The Borrower represents and warrants that all information provided to the Lender in connection with this Agreement is true, accurate, and complete.
Lender's Representation: The Lender represents and warrants that it has the legal right to enter into this Agreement and to provide the loan to the Borrower.

Governing Law:

This Agreement shall be governed by and construed by the laws of the State of California, without regard to its conflict of law principles.

Dispute Resolution:

If any disputes or disagreements arise either directly or indirectly from this Agreement, the course of action to be taken to arrive at a resolution will be through the process of arbitration. The procedures, guidelines, and rules to be adhered to during this arbitration process will be strictly those outlined and specified by the American Arbitration Association.

Severability:

In the case that any stipulation or clause contained within this Agreement may be deemed legally invalid or is unable to be enforced due to any reason, then the remaining provisions, stipulations, or clauses that are contained within this Agreement will continue to stand and operate with the entirety of their intended force and effect.

Entire Agreement:

This Agreement constitutes the entire understanding and agreement between the parties concerning the subject matter hereof and supersedes all prior agreements, negotiations, and understandings, whether oral or written.

Execution:

This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute the same instrument. This Agreement may be executed electronically.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

[YOUR NAME] (Lender)

[DATE SIGNED]

[BORROWER'S NAME] (Borrower)

[DATE SIGNED]