Loan Agreement Format

LOAN AGREEMENT
THIS LOAN AGREEMENT (this "Agreement") executed on 13^th day of August, 2018

BETWEEN: 

AKA  S/o Sri GLC Residence of  Flat No. 000, Delhi- 

AND

ABC S/o XVZ, 3 East Delhi, Delhi – 110091.

IN CONSIDERATION OF the both parties this agreement of mutual concern is executed on 04.10.2019 as both parties are agree to keep, perform and fulfil the promises and conditions set out in this Agreement: 

Loan Amount & Interest

1.       That the first party has given a friendly loan of Rs. 40,000/- (Rupees Forty Thousands only) to the second party vide Cheque No. 9999

dated 10.08.2018 to the account No. 3595xxxxx of Second party.

2.       That the second party shall pay the above loan amount of Rs. 40,000/- (Rupees Forty Thousand only) to the first party  for one year along with interest and  the principal Loan amount.  

 3.      This Agreement will pass to the benefit of and be binding upon the respective heirs, executors, administrators, successors and permitted assigns of the Borrower and Lender. The Borrower waives presentment for payment, notice of non-payment, protest, and notice of protest.

4. This Agreement may only be amended or modified by a written instrument executed by both the Borrower and the Lender.

IN WITNESS WHEREOF, the parties have duly affixed their signature on this 04^th  day of October, 2019.                                                            

First Party                                                                 Second Party

Signed, Sealed and Delivered before me, on 04^th day of October, 2019.

Witnesses