Free Deferred Payment Agreement

This Deferred Payment Agreement ("Agreement") is entered into on this 1st day of January 2050, by and between:

Lender/Service Provider

Name: [Your Company Name]
Address: [Your Company Address]
Contact: [Your Company Number] | [Your Company Email]

Borrower/Client

Name: John A. Doe
Address: 456 Main Street, Suburbville, CA 90002
Contact: (555) 987-6543 | johndoe@mail.com

1. Total Amount Due

The total amount owed by the Borrower under this Agreement is $10,000.00 (the "Debt").

2. Deferred Payment Terms

The Lender agrees to allow the Borrower to defer payments of the Debt under the following terms:

• Deferred Payment Start Date: Payments will commence on March 1, 2050.

• Payment Schedule: The Borrower agrees to make payments in monthly installments of $1,000.00.

• Number of Payments: 10 payments will be made until the full amount is paid.

• Final Payment Due Date: December 1, 2050.

3. Interest

Interest will not accrue on the unpaid balance as long as payments are made on time.

4. Late Payments

If the Borrower fails to make any payment on time:

• A late fee of $50.00 will be applied.

• Interest will accrue at a default rate of 5% per annum on the overdue balance.

5. Prepayment

The Borrower may prepay the Debt, in part or in full, at any time without penalty.

6. Default

Failure to make a payment within 10 days of the due date shall constitute a default. Upon default:

• The Lender may demand immediate payment of the full outstanding balance.

• The Lender may pursue legal action or take any steps necessary to recover the unpaid balance.

7. Governing Law

This Agreement shall be governed by the laws of the state of California.

8. Entire Agreement

This Agreement constitutes the entire understanding between the parties and supersedes any prior agreements or discussions.

9. Signatures

Jolie Cassin

[Your Name]

[Your Company Name]

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