Fill and Sign the Form of Loan Agreement and Promissory Note Secgov

LOAN AGREEMENT (Loan No. ________________) THIS LOAN AGREEMENT ("this Agreement") is made and entered into this ____ day of _________, _______, by and between ______________________________, a _________ corporation ("Lender"), with its Home Office in _________, _________ County, _________, and _________, ("Borrower"), a general partnership formed under _________ law composed of _________ ("_________"), a Mississippi corporation, and _________ ("_________"), a _________ corporation. W I T N E S S E T H: WHEREAS, _________, a _________ corporation, owns a _________ ("the "_________") located on a _________ acre site in _________ Mississippi, which _________ manufactures _________; and WHEREAS, in order to obtain funds to be used in the acquisition of said _________ and the thirty-one acre site on which the ______________ is located, Borrower has accepted, and Lender has agreed, subject to the terms and conditions of this Loan Agreement, to make contemporaneously with the execution of this Loan Agreement, a secured loan ("the Loan") in the principal amount of ______________ Dollars ($______________) to be advanced in one installment upon satisfaction of certain express conditions; NOW, THEREFORE, in consideration of the mutual promises set forth herein and in consideration of the extension of credit to the Borrower and of the promises and undertakings herein set forth, the parties hereto agree as follows, it being expressly understood that all covenants, terms, conditions and undertakings set forth in this Agreement will survive and
Survive the termination of this loan agreement: 1. The loan shall be secured by the interest, if any, on the loan on and after the date thereof. The interest of the lender on such loan will be an interest, if any, to be paid upon the principal amount advanced in the initial transaction. 2. It is agreed that in order to secure the foregoing stated loan the covenants set forth in section 1. Of this agreement will be executed as follows, in the order of their occurrence: a. Loaned: agrees to repay this loan in an amount equal to the amount of the principal of the loans herein, at the time at which the initial loan is drawn. B. Borrower: agrees to extend and to pay the principal of this loan to loaned in advance of the original loan being repaid. C. Borrower and lender: further agree that in order such extension and payment to be complied with, loaned will, as provided herein, pay to all borrowers, who have drawn from the company, all their advances in advance as herein provided. D. Lender and borrower: agrees that the company shall give to each borrower named in this schedule b thirty days written notice of any interest, principal of loan, the date when the loan is scheduled to be drawn and any interest charges, if any, that such borrower may accrue as a result of such extension. E. Lender: agrees that in the event that borrower fails within thirty days of the giving of the notice specified in the preceding sentence to repay any interest, principal or any other expense accrued thereon, the lien of the company upon all property described in section 1. Or 2. Thereof as collateral for the loan shall be released and the loan will be held in default as a result of such failure, and the lien of the company shall thereafter be extinguished and all property held by the company in satisfaction of any such principal shall be forfeited to this company. F. Lender and borrower: also agrees and agrees that this loan shall be governed by the Mississippi constitution and the laws of Mississippi; that in the event of any conflict between the applicable provisions of any statute or state or federal law and any provisions of this loan agreement, the provisions of the applicable statute or state or federal law will govern. G. The lender is advised that the principal of the loan is limited to dollars, with a maximum principal of 20,000. 1. The