Bank Loan Agreement

_____________________________, referred to as BORROWER, and _____________________________, referred to as BANK, agree:

That the BANK shall lend sums of money to the BORROWER from time to time, including:
Principal amount: $____(_____________________________&___/100 dollars)
The initial rate for the loan shall be _____%
The interest rate shall be adjusted every _______ from the closing date of the loan
The first adjustment shall take place on _______________
The overall maximum rate for the loan shall be _____%
The rate on the loan shall not be less than ____%
The reference rate used for adjustment shall be ____

The advance made herein shall be evidenced by a promissory note.
The following will be the terms of repayment:

The note shall be due, in full, on ___________________.

BORROWER assigns to BANK any and all deposits with BANK as additional collateral to BANK. Upon default, BANK shall be entitled to set off the deposits in satisfaction of any sum due to BANK by the BORROWER.

The BORROWER shall not use the proceeds of this loan for household, personal or family obligations.

The BORROWER represents that the loan proceeds will be used for business purposes.

The BORROWER shall maintain a life insurance policy in the following amounts related to the following individuals:
Individuals: ________________________
Amounts: The principal and interest balance then outstanding on the loan.

The BORROWER shall not be required to obtain the same through BANK and may assign policies from insurers licensed to offer life insurance in the State of ___________.

The extension of credit made herein shall be secured by a lien on the following property:
_______________________________________________________________

and BORROWER shall execute such financing statements and security interests as BANK may reasonably require from time to time to perfect its security interest.

Dated: ____________________________

_________________________________________________
Borrower
________________________________________________
Bank