Notary for Personal Loan Contract
NOTARY FOR PERSONAL LOAN CONTRACT
This document serves as a notarization of the Personal Loan Agreement executed between [Borrower's Full Name] and [Lender's Full Name] on the [Date]. It confirms the verification and certification of the signatures on the said agreement, affirming its legal validity and binding nature.
I. Parties Information
Borrower
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Name: [Borrower's Full Name]
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Address: [Borrower's Address]
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Contact Information: [Borrower's Phone Number]
Lender
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Name: [Lender's Full Name]
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Address: [Lender's Address]
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Contact Information: [Lender's Phone Number]
II. Loan Details
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Loan Amount: $10,000
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Interest Rate: 5%
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Loan Duration: 24 months
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Repayment Plan: Monthly installments of $450
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Collateral (if any): None
III. Terms and Conditions
1. Repayment Schedule
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Monthly payments of $450 starting from May 1, 2050, to be paid by the 15th of each month.
2. Default Consequences
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In case of default, a late fee of $50 will be charged, and legal action may be taken to recover the outstanding amount.
3. Loan Modifications
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Loan terms may be modified with mutual agreement in writing and signed by both parties.
4. Dispute Resolution
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Any disputes arising from this agreement will be resolved through arbitration under the laws of the State of [STATE].
IV. Signatures
This section confirms the acknowledgment and understanding of the Personal Loan Agreement by the involved parties.
Name: [Borrower's Full Name]
Name: [Lender's Full Name]
Notary Acknowledgement
I, [YOUR NAME], a Notary Public for the State of [Your State], certify that on [Insert Date], [Borrower’s Full Name] and [Lender's Full Name], identified to me (or proven satisfactorily) as the individuals whose names are subscribed to this document, appeared before me within my jurisdiction. They acknowledged their roles as parties to and executed this agreement for the purposes stated therein.
Notary Public's Name: [YOUR NAME]
