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# Debtor and Creditor Agreement
**This Debtor and Creditor Agreement** ("Agreement") is made and entered into as of [Date], by and between:
**Creditor:**
[Creditor's Name]
[Creditor's Address]
[City, State, Zip Code]
**Debtor:**
[Debtor's Name]
[Debtor's Address]
[City, State, Zip Code]
## RECITALS
WHEREAS, the Creditor has loaned or agreed to loan to the Debtor an amount of money or value as described herein; and
WHEREAS, the Debtor has agreed to repay this amount under the terms set forth in this Agreement;
NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, the parties hereby agree as follows:
## 1. Loan Amount
The Creditor agrees to loan the Debtor the sum of **[Loan Amount in Words]** ($[Loan Amount in Numbers]), hereinafter referred to as the "Loan."
## 2. Purpose of Loan
The Loan provided under this Agreement shall be used for the following purpose(s):
- [Specify Purpose]
## 3. Interest Rate
The Loan shall bear an interest rate of **[Interest Rate]%** per annum, calculated on the outstanding principal balance.
## 4. Term of Loan
The Loan shall be repaid in full on or before **[Maturity Date]** (the "Maturity Date"). The Borrower may prepay the Loan in full or in part without penalty at any time prior to the Maturity Date.
## 5. Payment
Payments shall be made in accordance with the following schedule:
- Initial payment of **[Amount]** due on **[Payment Due Date]**
- Subsequent payments of **[Amount]** due on the **[Specify Day]** of each month until the Loan is paid in full.
All payments are to be made to the Creditor at the address specified above or as determined by the Creditor.
## 6. Default
A default shall occur if:
- The Debtor fails to make any payment when due.
- The Debtor becomes insolvent, files for bankruptcy, or ceases to conduct business.
Upon default, the entire unpaid principal amount of the Loan, together with all accrued interest, shall become immediately due and payable at the option of the Creditor.
## 7. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of **[State]**.
## 8. Miscellaneous
- **Amendments:** This Agreement may be amended only in writing signed by both parties.
- **Severability:** If any provision of this Agreement is found to be unenforceable, the remaining provisions shall continue in full force and effect.
- **Entire Agreement:** This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements or understandings, whether written or oral.
## IN WITNESS WHEREOF
The parties hereto have executed this Debtor and Creditor Agreement as of the date first written above.
__________________________
**[Creditor's Name]**
**Creditor**
__________________________
**[Debtor's Name]**
**Debtor**
**Date:** [Date]
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This document serves as a basic template for a debtor and creditor agreement. Depending on your specific situation, legal advice should be sought to ensure all local laws and regulations are adhered to.