# Annual Percentage Rate (APR) Agreement
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## Agreement for Annual Percentage Rate (APR)
**Date:** [Insert Date]
**Parties Involved:**
- **Lender:** [Lender's Name]
- **Borrower:** [Borrower's Name]
- **Address of Lender:** [Lender's Address]
- **Address of Borrower:** [Borrower's Address]
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### 1. **Purpose of Agreement**
This Agreement sets forth the terms and conditions under which the Borrower agrees to repay a loan from the Lender, including the Annual Percentage Rate (APR) applicable to the loan amount.
### 2. **Loan Amount**
The total amount of the loan granted to the Borrower is:
**Loan Amount:** $[Insert Amount]
### 3. **Annual Percentage Rate (APR)**
The annual percentage rate applied to the loan is:
**APR:** [Insert Percentage]% per annum
### 4. **Loan Term**
The duration of the loan, also referred to as the "Loan Term," shall commence on the date of this Agreement and shall continue until the loan is fully paid.
**Start Date:** [Insert Start Date]
**End Date:** [Insert End Date]
### 5. **Payment Schedule**
The Borrower agrees to make payments according to the following schedule:
- **Payment Frequency:** [Weekly/Bi-weekly/Monthly]
- **Payment Amount:** $[Insert Amount]
- **Due Date of Payments:** [Specify dates or frequency]
### 6. **Late Payment Penalties**
If the Borrower fails to make any payment by the due date, the following penalties shall apply:
- **Late Fee Amount:** $[Insert Amount]
- **Additional Interest Rate on Late Payments:** [Insert Percentage]% per annum
### 7. **Payment Methods**
Payments shall be made using the following methods:
- [Specify accepted payment methods e.g., bank transfer, check, etc.]
### 8. **Prepayment**
The Borrower may prepay the loan in whole or in part at any time without incurring any penalty.
### 9. **Default**
In the event that the Borrower fails to make payments as agreed, the Lender may declare the full amount of the loan immediately due and payable, and may exercise all rights and remedies available under applicable law.
### 10. **Governing Law**
This Agreement shall be governed by and construed in accordance with the laws of the State of [Insert State].
### 11. **Entire Agreement**
This Agreement constitutes the entire agreement between the parties regarding the subject matter hereof and supersedes all prior discussions, agreements, and understandings.
### 12. **Amendments**
Any amendments to this Agreement must be made in writing and signed by both parties.
### 13. **Severability**
If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall continue to be valid and enforceable.
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**IN WITNESS WHEREOF**, the parties hereto have executed this Annual Percentage Rate Agreement as of the day and year first above written.
**Lender Signature:** _____________________
**Printed Name:** [Lender's Name]
**Date:** [Insert Date]
**Borrower Signature:** ___________________
**Printed Name:** [Borrower's Name]
**Date:** [Insert Date]
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> **Disclaimer:** This is a template and should be customized to fit the specific needs and legal requirements of the parties involved. It is advisable to seek legal counsel before entering into any agreements.