# Debt Agreement Contract
**This Debt Agreement Contract ("Agreement") is made and entered into this [Date] by and between:**
**Lender:**
Name: [Lender's Full Name]
Address: [Lender's Address]
Email: [Lender's Email]
Phone: [Lender's Phone Number]
**Borrower:**
Name: [Borrower's Full Name]
Address: [Borrower's Address]
Email: [Borrower's Email]
Phone: [Borrower's Phone Number]
**Collectively referred to as the "Parties."**
---
## 1. Loan Amount
The Lender agrees to loan the Borrower the sum of **$[Loan Amount]** (the "Loan").
## 2. Purpose of Loan
The Loan shall be used for the following purpose:
**[Describe the purpose of the loan]**
## 3. Repayment Terms
1. **Repayment Schedule:**
The Borrower agrees to repay the Loan in [Number of installments] installments of **$[Installment Amount]**, due on the [Specify Due Dates].
2. **Interest Rate:**
The Loan shall bear interest at the rate of **[Interest Rate]%** per annum, calculated on the remaining balance.
3. **Late Payment:**
If any payment is not received by the due date, the Borrower agrees to pay a late fee of **$[Late Fee Amount]**.
## 4. Prepayment
The Borrower may prepay the Loan in whole or in part without penalty. Any prepayment will be applied first to outstanding interest and then to the principal.
## 5. Representations and Warranties
1. The Borrower represents that they have the capacity to enter into this Agreement, and the Agreement is duly executed.
2. The Lender represents that they have the right to lend the Loan and hold the necessary licenses to do so where applicable.
## 6. Default
1. The Borrower will be in default under this Agreement if:
a. A payment is not made when due.
b. The Borrower becomes insolvent or bankrupt.
2. Upon default, the Lender may declare the entire unpaid principal and accrued interest immediately due and payable.
## 7. Governing Law
This Agreement shall be governed by the laws of the State of [State].
## 8. Amendments
No amendment or modification of this Agreement shall be valid unless in writing and signed by both Parties.
## 9. Entire Agreement
This Agreement constitutes the entire agreement between the Parties concerning its subject matter and supersedes all prior agreements or understandings.
## 10. Signatures
**IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.**
**Lender:**
__________________________
[Signature]
[Lender's Printed Name]
**Borrower:**
__________________________
[Signature]
[Borrower's Printed Name]
---
**Date:** [Date of Signing]
**Witness:** [Witness Name (if required)]
__________________________
[Signature]
[Witness Printed Name]
---
*This Debt Agreement is intended for informational purposes only and may not be considered as legal advice. It is advisable to consult a legal professional before entering into a binding agreement.*