SAMPLE OF LOAN AGREEMENT


LOAN AGREEMENT



THIS AGREEMENT made this ………. day of…… 20...  BETWEEN A AND B of P.O. Box ……. (hereinafter called “the Lender”) of the one part and X AND Y of P.O. Box ……… (hereinafter called “the Borrower”) of the other part:

WHEREBY IT IS WITNESSED as follows:


1. The Lender hereby lends to the Borrower at the Borrower’s request the sum of……………..(Sum in words) on the terms stated hereunder.

2. The duration of the loan shall be a minimum of ……..months and a maximum of………months with effect from the……..day of……, 20...

3. The principal amount of the loan shall be levied interest at a rate of …%  per month, that is to say…………..(sum in words) per month, payable at the expiry of every month of the loan period.

4. As security for the loan the Borrower hereby mortgages to the Lender the property comprised in …………..  registered under Title Number………………and as evidence of the said mortgage the Borrower hereby deposits the original copy of the respective Certificate of Occupancy with the Lender who hereby acknowledges to have received the same.

IN WITNESS WHEREOF the parties hereto have set their hands hereunto and respectively signed these presents the day, month and year hereinafter appearing.


SIGNED and DELIVERED by the said       )
A NAD B  who is known to me personally/  )
identified to me by …………………………..   )
………………. the latter being  known to me )
personally in my presence this ……………   )        ______________
day of ……, 20…                                               )

Signature: ……………….…….…………………

Postal Address: ……………...……...………..…

                               …………………………………

Qualification: COMMISSIONER  FOR  OATHS


SIGNED and DELIVERED by the said       )
X AND Y who is known to me                        )
personally/identified to me by …………….. )
…………………………………………………..   )
the latter being known to me personally in )        ______________
my presence this ……………. day of…..,        )
 20….                                                                   )

Signature: ……………….…….…………………

Postal Address: ……………...……...………..…

                               …………………………………

Qualification: COMMISSIONER  FOR  OATHS


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