Real Estate Loan Agreement

This Real Estate Loan Agreement (the "Agreement") is entered into between [Lender.FirstName][Lender.LastName], residing at [Lender.StreetAddress][Lender.City][Lender.State][Lender.PostalCode], hereinafter referred to as the "Lender," and [Borrower.FirstName][Borrower.LastName], residing at [Borrower.StreetAddress][Borrower.City][Borrower.State][Borrower.PostalCode], hereinafter referred to as the "Borrower."

Loan Details

• Loan Amount: (Enter the Loan Amount Borrowed)

• Interest Rate: (Enter the Interest Rate on the Loan in a Decimal Percentage Format per Annum)

• Loan Term: (Enter the Duration of the Loan in Months or Years as applicable)

• Repayment Terms: (Enter the Amount and Frequency of Payment(s) for the Loan, Including the Start Date for Repayment. This Section Should Also Outline Any Late Fees or Penalties for Missed Payments)

• Accepted Payment Methods: (Insert all the Acceptable Payment Methods)

Collateral

Property Description

The Borrower agrees to pledge the following (Insert the Item That Will Be Used as Collateral for the Loan) as collateral for the loan in the case that the Lender defaults:

• Collateral Item Description: (Provide a Detailed Description of the Collateral Item With All Relevant Details as Required)

Valuation of Collateral

The Borrower acknowledges that an independent appraisal of the collateral item has been conducted, and its fair market value has been determined at (Enter the Appraised Value of the Collateral Item).

Insurance

The Borrower shall maintain adequate insurance coverage on the collateral item for the duration of the loan term, naming the Lender as an additional insured party. The Borrower agrees to provide proof of insurance upon request.

Default

In the event of a default by the Borrower, the Lender shall have the right to take legal action to recover the outstanding amount of the loan, as well as additional accrued interest, fees, and costs. Default can be caused by the failure to make payments in a timely manner, breach of any other terms outlined in the loan agreement, or any event that may jeopardize the value or security of the collateral.

Legal Fees

In the event that the Borrower defaults, the Borrower agrees they will pay reasonable attorneys’ fees that may not exceed a sum equal to the maximum usury rate in the State of (State) of the outstanding balance owing on the Loan as outlined in this Real Estate Loan Agreement. Plus, any reasonable expenses made by the Lender as they exercise their rights and due remedies in court in the State of (State).

Governing Law and Jurisdiction

The terms and conditions of this Agreement will be regulated and interpreted based on the laws of the State of (State) as required.

Repayment Completion

The loan shall be closed upon full and complete repayment of the loan amount, as well as all accrued interest, fees, and costs. A Closing Protection Letter (CPL) is issued by the Lender, stating that the loan has been paid in full.

Entire Agreement

This Real Estate Loan Agreement is the complete and only Agreement between the Lender and Borrower with respect to the loan. All the terms and conditions that have been agreed upon between the two Parties supersede any previous agreements, whether made verbally or in writing. If any changes are to be made to this Agreement, they must be in writing and signed by both the Lender and the Borrower in order for them to be valid.