Loan Agreement - Long Form

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Our UK long form loan agreement should be used when lending large amounts of money that are typically secured by way of legal charge over a property (like a mortgage).

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A Loan Agreement is used when lending money. It is vital that if you ever loan or borrow money that you document the main terms under which the money is lent. This lawyer drafted UK Long Form Loan Agreement should be used when lending large amounts of money that are typically secured by way of legal charge over a property (like a mortgage).

Some of the terms which have been documented in this form in a clear and concise way are:

  • How much money is being loaned
  • When will the loan be repaid
  • What is the interest rate (if any)
  • When will the interest be paid
  • Will the loan be secured by a mortgage, debenture or personal guarantee or not at all
This Loan Agreement form has been created by UK lawyers for use in England and Wales.
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.













LONG LOAN FORM







This Packet Includes:
1. Information;
2. Step-by-Step Instructions; and
3. LONG LOAN FORM





Information
LONG LOAN FORM




Our long form loan agreement should be used when lending large amounts of money that are typically secured by way of legal charge over a property (like a mortgage).

It is vital that if you ever loan or borrow money that you document the main terms under which the money is lent. They main terms are typically:

   How much money is being loaned
   When will the loan be repaid
   What is the interest rate (if any)
   When will the interest be paid
   Will the loan be secured by a mortgage, debenture or personal guarantee or not at all

As with all our products this loan agreement is prepared in simple and easily understood language. Obviously not all the clauses will be required for your individual circumstances but this agreement will act as a good foundation for your negotiations.

In this agreement you will see some wording within square brackets giving you instructions as to what information needs to be inserted. Once you have inserted this information the delete the square brackets.

You will also note just blank square brackets in the letter. This denotes that information is missing and will need to be inserted by you. Once you have added the information then delete the square brackets.

In this agreement we have provided you with a fictitious example of loan transaction to show how the agreement would work in practice. Our lender has loaned £275,000 to the Borrower so that the Borrower can buy a property. The Lender is taking security for the loan over a property owned by the Buyer (of course please delete any examples and figures we have inserted into the agreement if these are not appropriate for you).





 Step-by-Step Instructions
LONG LOAN FORM



   

We would draw your attention to the following:

   Clause 1.1   The Lender will need to specify here the amount of the loan (called the Advance).

   Clause 1.3   You will need to decide on what days interest is payable (monthly or quaterly).

   Clause 1.4   In this clause you will determine what the interest rate will be. In this agreement we have a variable rate that will fluctuate as the base rate fluctuates. You can of course just have a fixed interest rate (ie 6% per annum).

   Clause 1.5   Insert a date here. This is the date the Loan will need to be repaid by.

   Clause 1.6   If it is not the intention of the Borrower to grant a charge over a property as security for the loan then it is highly likely that this clause can be deleted.

   Clause 2.2   Specify here what the purpose of the loan is for.

   Clause 2.3   If the Loan is not to be secured then please delete this clause. Also note the security mentioned in this clause is a legal charge. It may well be that the security the Lender  requires is different (ie a guarantee or a debenture) and this clause should be amended as appropriate.




DISCLAIMER:

FindLegalForms, Inc. (“FLF”) is not a law firm and does not provide legal advice.  The use of these materials is not a substitute for legal advice.     Only a lawyer/solicitor/barrister can provide legal advice.  A lawyer/solicitor/barrister should be consulted for all serious legal matters. No Lawyer-Client / Solicitor-Client relationship is created by use                   of these materials.



THESE MATERIALS ARE PROVIDED “AS-IS.  FLF DOES NOT GIVE ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, SUITABILITY OR COMPLETENESS FOR ANY OF THE MATERIALS FOR YOUR PARTICULAR NEEDS.  THE MATERIALS ARE USED AT YOUR OWN RISK.  IN NO EVENT WILL:  I) FLF, ITS AGENTS, PARTNERS, OR AFFILIATES; OR II) THE PROVIDERS, AUTHORS OR PUBLISHERS OF ITS MATERIALS, BE RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATE OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER USED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THESE MATERIALS. 


THIS LOAN AGREEMENT is made the                  day of                               20
between
(1)                                  of                                                                                        (“the Lender”)
(2)                                  of                                                                                     (“the Borrower”)
NOW IT IS AGREED as follows: 
1.   Definitions
In this agreement:
1.1   “Advance” means [TWO HUNDRED AND SEVENTY FIVE THOUSAND POUNDS (£275,000.00)]  
1.2   “Business Day” means any day banks are ordinarily open for business in the UK
1.3   “Interest Payment Days” means [the last Business Day of each month]
1.4   “Interest Rate” means [3% above the bank rate at Barclays Bank plc from time to time]
1.5   “Redemption Date” means [                           ] [2029]
1.6   “Property” means the property known as [enter address]
2.    Agreement for advance
2.1   The Lender agrees with the Borrower to lend the Advance to the Borrower upon the terms conditions and provisions of this agreement
2.2   The Advance shall only be used to assist the Borrower in purchasing the equitable title to the Property
2.3   The obligation of the Borrower under this Loan Agreement shall be secured at all times by a legal charge to be executed by the Borrower in favour of the Lender over the Property in a form satisfactory to the Lender
3.   Repayment of advance
3.1   In consideration of the Advance (receipt of which the Borrower acknowledges) the Borrower undertakes to repay the Advance to the Lender free from any legal or equitable right of set-off on the Redemption Date in accordance with the payment schedule as notified to the Borrower by the Lender from time to time or if earlier immediately on demand if:  
3.1.1   any interest or other sum payable under this agreement is not paid within 14 days of becoming due
3.1.2   the Borrower or any surety fails to comply with any term condition covenant or provision of or to perform any of his obligations or liabilities under this agreement or any associated or collateral security
3.1.3   any representation or warranty given by the Borrower or any surety to the Borrower is or becomes incorrect
3.1.4   any judgment or order made against the Borrower or any surety by any court is not complied with within 14 days
3.1.5   the property of the Borrower or any surety becomes subject to any forfeiture or execution distress sequestration or other form of process
3.1.6   if a mortgagee takes possession of or exercises or seeks to exercise any power of sale or of an appointment of a receiver in relation to any other of the Borrower or of any surety  
3.1.7   
(a)
the Borrower or any surety becomes subject to an interim order or makes a proposal for a voluntary arrangement under Part VIII of the Insolvency Act 1986 or enters or seeks to enter into any other form of composition or arrangement with his creditors whether in whole or in part
(b)   a petition is presented for the bankruptcy of the Borrower or any surety or  
(c)   the Borrower or any surety dies or becomes of unsound mind or  
3.1.8   the Lender in its reasonable opinion believes the Advance and/or any other sums due under this agreement will not be repaid when due
3.2   Notwithstanding the provisions of clause 3.1 the Borrower may at any time repay the Advance or so much of it as may be owing on giving to the Lender 14 days notice subject to the Borrower at the same time also paying or discharging all other obligations and liabilities due or owing by the Borrower to the Lender under this agreement or under the terms of any security associated with or collateral to it
4.   Interest
4.1    Payment
The Borrower undertakes with the Lender to pay to the Lender interest on the Advance (or so much of it as may from time to time remain outstanding) at the Interest Rate from the date of this agreement on the Interest Payment Days such interest to be payable as well after as before any demand or judgment or the bankruptcy death or insanity of the Borrower
4.2    Capitalisation  
4.2.1   If any interest payable under this agreement is not paid within 14 days after the due date for payment it shall be capitalised and added to the Advance and bear interest from the due date for payment such interest to be payable at the Interest Rate and on the Interest Payment Days
4.2.2   The capitalisation of arrears of interest will be without prejudice to the Lenders right at any time to enforce payment of the sums concerned as interest in arrear
4.2.3   The Borrower may on any of the Interest Payment Days pay to the Lender in addition to the interest then due all or any part of the Advance representing capitalised arrears of interest
4.2.4   Otherwise all undertakings and provisions contained in this agreement and all powers and remedies conferred by law or by this agreement and all rules of law or equity relating to the Advance and interest on it shall equally apply to capitalised arrears of interest and to interest on them
5.   Costs charges expenses and other liabilities
5.1   The Borrower undertakes with the Lender to pay to the Lender on demand and on a full and unlimited indemnity basis all costs charges expenses and liabilities paid and incurred by the Lender (whether directly or indirectly) in relation to this agreement and the obligations owed under and associated with this agreement and any associated or collateral security (including all commission legal and other professional costs and fees and disbursements and VAT on them) together with interest from the date when the Lender becomes liable for them until payment by the Borrower at the Interest Rate such interest to be payable in the same manner as interest on the Advance
5.2   Without prejudice to the generality of the provisions of that clause the Borrowers liability under clause 5.1 will include not only those costs charges expenses and liabilities that would otherwise be allowable on the taking of an account between a mortgagor and mortgagee but also (and in so far as they are not so allowable) those incurred in relation to or arising out of
5.2.1   the contemplation and institution of all proceedings and other action in connection with the enforcement of this agreement and with the enforcement preservation and protection of any associated or collateral security
5.2.2   the contemplation and institution of all proceedings and other action (whether against the Borrower or otherwise) for the payment or discharge of the money and liabilities associated with this deed or any associated or collateral security
5.2.3   the exercise or contemplated exercise of any power right or discretion conferred by this agreement or by law on the Lender
5.2.4   any default by the Borrower or any surety in compliance with the obligations imposed by the terms of this security or associated with it or with any associated or collateral security
5.2.5   any impeachment or attempted impeachment of the title of the Lender (whether by the Borrower or by a third party) or of the title of the Borrower to any associated or collateral security and  
5.2.6   the contemplation or doing of any other matter or thing which the Lender considers to be for the benefit or improvement of any associated or collateral security
6.   Borrowers representations and warranties
The Borrower represents and warrants to the Lender that the execution of and the observance and performance of his obligations under this agreement does not and will not contravene any charge mortgage lease loan facility or other agreement
7.   Indulgence and waiver
The Lender may at any time without discharging or in any way prejudicing this agreement or any associated or collateral security or any remedy of the Lender under this agreement or any associated or collateral security grant to the Borrower or to any other person time indulgence further credit loans or advances or enter into any arrangement or variation of rights or either in whole or in part release abstain from perfecting or enforcing or neglect or fail to perfect or enforce any remedies securities guarantees or rights which he may now or subsequently have from or against the Borrower or any other person
8.    Demands and notices
8.1    A demand or notice by the Lender under this agreement shall be deemed to have been properly served on the Borrower if served
8.1.1   personally on the Borrower or  
8.1.2   by first class letter post or fax addressed to the Borrower at or by delivery to his usual or last known place of abode or business
8.2   Service shall be deemed to be effected notwithstanding the death of the Borrower
8.2.1   at 10 am on the second business day immediately following the day of posting if given by first class letter post irrespective of the time or date of actual delivery or of lack of delivery
8.2.2   when dispatched if given by fax and  
8.2.3   when left at the property concerned if delivered
8.3   The methods of service described in clause 8.1 are in addition and without prejudice to any other method of service prescribed or permitted by law
9.   Validity and severability
Each of the provisions of this agreement is severable and distinct from the others and if at any time one or more of such provisions is or becomes invalid illegal or unenforceable the validity legality and enforceability of the remaining provisions shall not be affected or impaired
10.   Interpretation
10.1   Unless the context otherwise requires
10.1.1   the singular includes the plural and vice versa
10.1.2   references to persons include references to firms companies or corporations and vice versa and  
10.1.3   references in the masculine gender include references in the feminine or neuter genders and vice versa
10.2   Unless the context otherwise requires the expressions “the Borrower” and “the Lender” include their respective successors and assigns whether immediate or derivative and where appropriate the survivors or survivor of them
10.3   All agreements undertakings representations and warranties given or implied in this mortgage by more than one person shall be deemed to have been given jointly and severally by those concerned
10.4   The clause headings do not form part of this agreement and shall not be taken into account in its construction or interpretation
10.5   Any reference to a clause or a paragraph or a schedule is to one in this agreement so numbered or named
11.   ASSIGNMENT
This Agreement shall not be assignable by the Borrower without the Lenders consent, such consent to be given at the Lenders sole discretion
12.   Governing law and jurisdiction
12.1   This agreement shall be governed by and construed in accordance with English law
12.2   It is irrevocably agreed for the exclusive benefit of the Lender that the courts of England are to have jurisdiction to settle any disputes which may arise out of or in connection with this agreement and that accordingly any suit action or proceeding arising out of or in connection with this agreement may be brought in such courts
12.3   Nothing in this clause shall limit the Lenders right to take proceedings against the Borrower in any other court of competent jurisdiction nor shall the taking of proceedings in one or more jurisdictions preclude the taking of proceedings in any other jurisdiction whether concurrently or not
SIGNED as a DEED by         )
the Borrower in the presence of:   )


Witness
Signature    ….
Print    
Name        ….
Address        ….
        ….
        ….
Occupation    ….



SIGNED as a DEED by         )
the Lender in the presence of:      )


Witness
Signature    ….
Print    
Name        ….
Address        ….
        ….
        ….
Occupation    ….




Number of Pages10
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#32252
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.













LONG LOAN FORM







This Packet Includes:
1. Information;
2. Step-by-Step Instructions; and
3. LONG LOAN FORM





Information
LONG LOAN FORM




Our long form loan agreement should be used when lending large amounts of money that are typically secured by way of legal charge over a property (like a mortgage).

It is vital that if you ever loan or borrow money that you document the main terms under which the money is lent. They main terms are typically:

   How much money is being loaned
   When will the loan be repaid
   What is the interest rate (if any)
   When will the interest be paid
   Will the loan be secured by a mortgage, debenture or personal guarantee or not at all

As with all our products this loan agreement is prepared in simple and easily understood language. Obviously not all the clauses will be required for your individual circumstances but this agreement will act as a good foundation for your negotiations.

In this agreement you will see some wording within square brackets giving you instructions as to what information needs to be inserted. Once you have inserted this information the delete the square brackets.

You will also note just blank square brackets in the letter. This denotes that information is missing and will need to be inserted by you. Once you have added the information then delete the square brackets.

In this agreement we have provided you with a fictitious example of loan transaction to show how the agreement would work in practice. Our lender has loaned £275,000 to the Borrower so that the Borrower can buy a property. The Lender is taking security for the loan over a property owned by the Buyer (of course please delete any examples and figures we have inserted into the agreement if these are not appropriate for you).





 Step-by-Step Instructions
LONG LOAN FORM



   

We would draw your attention to the following:

   Clause 1.1   The Lender will need to specify here the amount of the loan (called the Advance).

   Clause 1.3   You will need to decide on what days interest is payable (monthly or quaterly).

   Clause 1.4   In this clause you will determine what the interest rate will be. In this agreement we have a variable rate that will fluctuate as the base rate fluctuates. You can of course just have a fixed interest rate (ie 6% per annum).

   Clause 1.5   Insert a date here. This is the date the Loan will need to be repaid by.

   Clause 1.6   If it is not the intention of the Borrower to grant a charge over a property as security for the loan then it is highly likely that this clause can be deleted.

   Clause 2.2   Specify here what the purpose of the loan is for.

   Clause 2.3   If the Loan is not to be secured then please delete this clause. Also note the security mentioned in this clause is a legal charge. It may well be that the security the Lender  requires is different (ie a guarantee or a debenture) and this clause should be amended as appropriate.




DISCLAIMER:

FindLegalForms, Inc. (“FLF”) is not a law firm and does not provide legal advice.  The use of these materials is not a substitute for legal advice.     Only a lawyer/solicitor/barrister can provide legal advice.  A lawyer/solicitor/barrister should be consulted for all serious legal matters. No Lawyer-Client / Solicitor-Client relationship is created by use                   of these materials.



THESE MATERIALS ARE PROVIDED “AS-IS.  FLF DOES NOT GIVE ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, SUITABILITY OR COMPLETENESS FOR ANY OF THE MATERIALS FOR YOUR PARTICULAR NEEDS.  THE MATERIALS ARE USED AT YOUR OWN RISK.  IN NO EVENT WILL:  I) FLF, ITS AGENTS, PARTNERS, OR AFFILIATES; OR II) THE PROVIDERS, AUTHORS OR PUBLISHERS OF ITS MATERIALS, BE RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATE OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER USED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THESE MATERIALS. 


THIS LOAN AGREEMENT is made the                  day of                               20
between
(1)                                  of                                                                                        (“the Lender”)
(2)                                  of                                                                                     (“the Borrower”)
NOW IT IS AGREED as follows: 
1.   Definitions
In this agreement:
1.1   “Advance” means [TWO HUNDRED AND SEVENTY FIVE THOUSAND POUNDS (£275,000.00)]  
1.2   “Business Day” means any day banks are ordinarily open for business in the UK
1.3   “Interest Payment Days” means [the last Business Day of each month]
1.4   “Interest Rate” means [3% above the bank rate at Barclays Bank plc from time to time]
1.5   “Redemption Date” means [                           ] [2029]
1.6   “Property” means the property known as [enter address]
2.    Agreement for advance
2.1   The Lender agrees with the Borrower to lend the Advance to the Borrower upon the terms conditions and provisions of this agreement
2.2   The Advance shall only be used to assist the Borrower in purchasing the equitable title to the Property
2.3   The obligation of the Borrower under this Loan Agreement shall be secured at all times by a legal charge to be executed by the Borrower in favour of the Lender over the Property in a form satisfactory to the Lender
3.   Repayment of advance
3.1   In consideration of the Advance (receipt of which the Borrower acknowledges) the Borrower undertakes to repay the Advance to the Lender free from any legal or equitable right of set-off on the Redemption Date in accordance with the payment schedule as notified to the Borrower by the Lender from time to time or if earlier immediately on demand if:  
3.1.1   any interest or other sum payable under this agreement is not paid within 14 days of becoming due
3.1.2   the Borrower or any surety fails to comply with any term condition covenant or provision of or to perform any of his obligations or liabilities under this agreement or any associated or collateral security
3.1.3   any representation or warranty given by the Borrower or any surety to the Borrower is or becomes incorrect
3.1.4   any judgment or order made against the Borrower or any surety by any court is not complied with within 14 days
3.1.5   the property of the Borrower or any surety becomes subject to any forfeiture or execution distress sequestration or other form of process
3.1.6   if a mortgagee takes possession of or exercises or seeks to exercise any power of sale or of an appointment of a receiver in relation to any other of the Borrower or of any surety  
3.1.7   
(a)
the Borrower or any surety becomes subject to an interim order or makes a proposal for a voluntary arrangement under Part VIII of the Insolvency Act 1986 or enters or seeks to enter into any other form of composition or arrangement with his creditors whether in whole or in part
(b)   a petition is presented for the bankruptcy of the Borrower or any surety or  
(c)   the Borrower or any surety dies or becomes of unsound mind or  
3.1.8   the Lender in its reasonable opinion believes the Advance and/or any other sums due under this agreement will not be repaid when due
3.2   Notwithstanding the provisions of clause 3.1 the Borrower may at any time repay the Advance or so much of it as may be owing on giving to the Lender 14 days notice subject to the Borrower at the same time also paying or discharging all other obligations and liabilities due or owing by the Borrower to the Lender under this agreement or under the terms of any security associated with or collateral to it
4.   Interest
4.1    Payment
The Borrower undertakes with the Lender to pay to the Lender interest on the Advance (or so much of it as may from time to time remain outstanding) at the Interest Rate from the date of this agreement on the Interest Payment Days such interest to be payable as well after as before any demand or judgment or the bankruptcy death or insanity of the Borrower
4.2    Capitalisation  
4.2.1   If any interest payable under this agreement is not paid within 14 days after the due date for payment it shall be capitalised and added to the Advance and bear interest from the due date for payment such interest to be payable at the Interest Rate and on the Interest Payment Days
4.2.2   The capitalisation of arrears of interest will be without prejudice to the Lenders right at any time to enforce payment of the sums concerned as interest in arrear
4.2.3   The Borrower may on any of the Interest Payment Days pay to the Lender in addition to the interest then due all or any part of the Advance representing capitalised arrears of interest
4.2.4   Otherwise all undertakings and provisions contained in this agreement and all powers and remedies conferred by law or by this agreement and all rules of law or equity relating to the Advance and interest on it shall equally apply to capitalised arrears of interest and to interest on them
5.   Costs charges expenses and other liabilities
5.1   The Borrower undertakes with the Lender to pay to the Lender on demand and on a full and unlimited indemnity basis all costs charges expenses and liabilities paid and incurred by the Lender (whether directly or indirectly) in relation to this agreement and the obligations owed under and associated with this agreement and any associated or collateral security (including all commission legal and other professional costs and fees and disbursements and VAT on them) together with interest from the date when the Lender becomes liable for them until payment by the Borrower at the Interest Rate such interest to be payable in the same manner as interest on the Advance
5.2   Without prejudice to the generality of the provisions of that clause the Borrowers liability under clause 5.1 will include not only those costs charges expenses and liabilities that would otherwise be allowable on the taking of an account between a mortgagor and mortgagee but also (and in so far as they are not so allowable) those incurred in relation to or arising out of
5.2.1   the contemplation and institution of all proceedings and other action in connection with the enforcement of this agreement and with the enforcement preservation and protection of any associated or collateral security
5.2.2   the contemplation and institution of all proceedings and other action (whether against the Borrower or otherwise) for the payment or discharge of the money and liabilities associated with this deed or any associated or collateral security
5.2.3   the exercise or contemplated exercise of any power right or discretion conferred by this agreement or by law on the Lender
5.2.4   any default by the Borrower or any surety in compliance with the obligations imposed by the terms of this security or associated with it or with any associated or collateral security
5.2.5   any impeachment or attempted impeachment of the title of the Lender (whether by the Borrower or by a third party) or of the title of the Borrower to any associated or collateral security and  
5.2.6   the contemplation or doing of any other matter or thing which the Lender considers to be for the benefit or improvement of any associated or collateral security
6.   Borrowers representations and warranties
The Borrower represents and warrants to the Lender that the execution of and the observance and performance of his obligations under this agreement does not and will not contravene any charge mortgage lease loan facility or other agreement
7.   Indulgence and waiver
The Lender may at any time without discharging or in any way prejudicing this agreement or any associated or collateral security or any remedy of the Lender under this agreement or any associated or collateral security grant to the Borrower or to any other person time indulgence further credit loans or advances or enter into any arrangement or variation of rights or either in whole or in part release abstain from perfecting or enforcing or neglect or fail to perfect or enforce any remedies securities guarantees or rights which he may now or subsequently have from or against the Borrower or any other person
8.    Demands and notices
8.1    A demand or notice by the Lender under this agreement shall be deemed to have been properly served on the Borrower if served
8.1.1   personally on the Borrower or  
8.1.2   by first class letter post or fax addressed to the Borrower at or by delivery to his usual or last known place of abode or business
8.2   Service shall be deemed to be effected notwithstanding the death of the Borrower
8.2.1   at 10 am on the second business day immediately following the day of posting if given by first class letter post irrespective of the time or date of actual delivery or of lack of delivery
8.2.2   when dispatched if given by fax and  
8.2.3   when left at the property concerned if delivered
8.3   The methods of service described in clause 8.1 are in addition and without prejudice to any other method of service prescribed or permitted by law
9.   Validity and severability
Each of the provisions of this agreement is severable and distinct from the others and if at any time one or more of such provisions is or becomes invalid illegal or unenforceable the validity legality and enforceability of the remaining provisions shall not be affected or impaired
10.   Interpretation
10.1   Unless the context otherwise requires
10.1.1   the singular includes the plural and vice versa
10.1.2   references to persons include references to firms companies or corporations and vice versa and  
10.1.3   references in the masculine gender include references in the feminine or neuter genders and vice versa
10.2   Unless the context otherwise requires the expressions “the Borrower” and “the Lender” include their respective successors and assigns whether immediate or derivative and where appropriate the survivors or survivor of them
10.3   All agreements undertakings representations and warranties given or implied in this mortgage by more than one person shall be deemed to have been given jointly and severally by those concerned
10.4   The clause headings do not form part of this agreement and shall not be taken into account in its construction or interpretation
10.5   Any reference to a clause or a paragraph or a schedule is to one in this agreement so numbered or named
11.   ASSIGNMENT
This Agreement shall not be assignable by the Borrower without the Lenders consent, such consent to be given at the Lenders sole discretion
12.   Governing law and jurisdiction
12.1   This agreement shall be governed by and construed in accordance with English law
12.2   It is irrevocably agreed for the exclusive benefit of the Lender that the courts of England are to have jurisdiction to settle any disputes which may arise out of or in connection with this agreement and that accordingly any suit action or proceeding arising out of or in connection with this agreement may be brought in such courts
12.3   Nothing in this clause shall limit the Lenders right to take proceedings against the Borrower in any other court of competent jurisdiction nor shall the taking of proceedings in one or more jurisdictions preclude the taking of proceedings in any other jurisdiction whether concurrently or not
SIGNED as a DEED by         )
the Borrower in the presence of:   )


Witness
Signature    ….
Print    
Name        ….
Address        ….
        ….
        ….
Occupation    ….



SIGNED as a DEED by         )
the Lender in the presence of:      )


Witness
Signature    ….
Print    
Name        ….
Address        ….
        ….
        ….
Occupation    ….




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Palm Desert,

CA

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I am very happy with this purchase. The description of the document matched my requirements and it was simple to add or subtract clauses to exactly suit my needs.


Palm Desert,

CA

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It was exactly what was needed to create a valid loan agreement, and so easy to obtain. Many thanks, Terence Allsep


Palm Desert,

CA

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Palm Desert,

CA

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I am a pensioner and needed a comprehensive loan agreement applicable to Australia, without incurring the cost of a dedicated solicitor. Your agreement was exactly what I was looking for and @ $14.95, excellent value for money. It would be better if your site and forms were easier to find. I visited a number of sites, most USA format, before I found yours.


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