This Loan Agreement (the "Agreement") is entered into on [Date], between [Borrower's Name], with a principal address at [Borrower's Address], hereinafter referred to as the "Borrower," and Liberty Line Savings Bank, a financial institution with its principal office located at [Bank's Address], hereinafter referred to as the "Lender."

1. Loan Details:

1.1 Loan Amount: The Lender agrees to provide a loan to the Borrower in the amount of [Loan Amount in Words] USD ([Loan Amount in Numbers]).

1.2 Interest Rate: The Borrower agrees to pay interest on the outstanding loan balance at the rate of [Interest Rate] per annum.

1.3 Repayment Terms: The Borrower agrees to repay the loan in [Number of Installments] equal monthly installments of [Installment Amount] USD each, commencing on [Start Date] and continuing on the same day of each month thereafter.

1.4 Purpose of Loan: The Borrower represents that the loan proceeds will be used solely for [Purpose of Loan].

2. Loan Disbursement:

2.1 Disbursement Date: The loan shall be disbursed by the Lender to the Borrower on [Disbursement Date].

3. Repayment:

3.1 Mode of Repayment: The Borrower authorizes the Lender to automatically debit the monthly installment from the Borrower's [Bank Account Details] on the specified due dates.

3.2 Prepayment: The Borrower has the option to prepay the outstanding loan amount at any time without incurring any prepayment penalties.

4. Interest and Fees:

4.1 Late Payment Fee: In the event of late payment, the Borrower agrees to pay a late payment fee of [Late Payment Fee Amount] USD.

5. Default:

5.1 Default Events: The following events shall constitute defaults under this Agreement: a) Failure to make a payment when due. b) Breach of any other provision of this Agreement.

5.2 Remedies: In the event of default, the Lender shall have the right to declare the entire outstanding loan amount, together with accrued interest, immediately due and payable.

6. Governing Law:

This Agreement shall be governed by and construed in accordance with the laws of the state of the United States.

7. Entire Agreement:

This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, understandings, and agreements, whether oral or written.