Personal Loan Agreement With Notary
I. Parties
This Personal Loan Agreement ("Agreement") is made on [Date], between:
Lender: [Your Name], [Your Company Address], [City, State, ZIP Code], hereinafter referred to as the "Lender",
Borrower: [Borrower's Name], [Borrower's Address], [City, State, ZIP Code], hereinafter referred to as the "Borrower".
II. Loan Details
II.I Loan Amount: The Lender agrees to lend the Borrower the sum of Five Thousand Dollars ($5,000), to be paid in full by June 30, 2050.
II.II Interest Rate: The Borrower agrees to pay interest on the outstanding principal amount at the rate of 5% per annum.
II.III Repayment Schedule: The loan shall be repaid in 12 installments of $500 each, starting on May 1, 2050, and continuing monthly thereafter until the loan is fully repaid.
III. Loan Terms
III.I Use of Loan: The Borrower shall use the loan amount solely to fund educational expenses, including tuition fees, books, and related educational materials for the Borrower's academic program.
IV. Prepayment
The Borrower reserves the right to prepay the outstanding balance of the loan at any time without penalty.
V. Notarization
V.I Notary Public: This Agreement shall be notarized by [Name of Notary Public], [Notary's Address], [City, State, ZIP Code], to ensure legal compliance and enforceability.
VI. Miscellaneous
VI.I Governing Law: This Agreement shall be governed by and construed by the laws of [State/Country].
VI.II Entire Agreement: This Agreement constitutes the entire understanding between the parties concerning the subject matter hereof and supersedes all prior agreements, understandings, negotiations, and discussions, whether oral or written.
VII. Signatures
IN WITNESS WHEREOF, the parties hereto have executed this Personal Loan Agreement as of the day and year first above written.
Lender:
[YOUR NAME]
[DATE SIGNED]
Borrower:
[BORROWER'S NAME]
[DATE SIGNED]
VIII. Acknowledgment
State of [State]
On this [Day] day of [Month], [Year], before me, the undersigned notary public, personally appeared [Your Name], known to me (or proved to me based on satisfactory evidence) to be the person whose name is subscribed to the within instrument, and acknowledged to me that they executed the same in their authorized capacity and that by their signature on the instrument, the person, or the entity upon behalf of which the person acted, executed the instrument.
Witness my hand and official seal:
Notary Public, [State]
My Commission Expires: [EXPIRATION DATE OF COMMISSION]
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