EmployeeLoanAgreement贷款协定docWord文件下载.docx
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EmployeeLoanAgreement贷款协定docWord文件下载.docx
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PROMISSORYNOTE
SECUREDBYDEEDOFTRUST
(HOUSINGRELOCATIONLOAN-I.R.C.Section1.7872-5-(T))
_________,_________,_________(M,D,Y)
$,_________
_________(Placename)
1.FORVALUERECEIVED,theundersigned,BBB(Employee)andCCC,husbandandwife(jointlyandseverally,Borrowers),promisetopaytotheorderofAAACORPORATION,a_________(Placename)corporation(Lender),at_________(Address)(oratsuchotherplaceasLendermayfromtimetotimedesignatebywrittennoticetoBorrowers),inlawfulmoneyoftheUnitedStates,theprincipalsumof_________($,_________),togetherwithinterestthereonattherateoffourandninety-four-hundredthspercent(4.94%)perannum.
2.PAYMENT:
TheprincipalandinterestduepursuanttothisNoteshallbepaidasfollows:
A.UpontheoccurrenceofaMaturityEvent(asdefinedherein),BorrowersshallpaytoLenderallamountsdueunderthisNote,includingallunpaidprincipalandallaccruedbutunpaidinterestontheprincipalamounthereof.
B.SubjecttoSection3below,theentireoutstandingprincipalbalanceofthisNote,plusanyaccrued,butunpaidinterestthereon,andanyothersumduehereundershallbedueandpayableinfullonorbeforethefourth(4th)anniversarydateofthisNote.Notwithstandingtheforegoing,ifEmployee’semploymentwithLenderisterminatedbyLender,withorwithoutcause,theninterestonthisNoteshallbecomedueandpayableinarrearsonDecember31stoftheyearfollowingtheyearinwhichtheterminationbecameeffective,andoneachyearthereafteruntilthefourth(4th)anniversarydateofthisNote,whenallaccruedbutunpaidinterestshallbepayable.(Forexample,ifLenderterminatesEmployee’semploymenteffective_________,_________,_________(M,D,Y),thenallaccruedinterestshallbecomedueandpayableon_________,_________,_________(M,D,Y)andoneachsubsequentDecember31stuntilthematuritydateofthisNote.)
C.PrincipalandinterestshallbepayableinlawfulmoneyoftheUnitedStates.Interestshallbecalculatedonthebasisofa360-dayyearconsistingoftwelve(12)months,eachofthirty(30)days,andshallcompoundannually.Eachpaymentshallbeappliedfirsttoaccruedinterest,thentoanyotheramounts(otherthanprincipal)payablehereunderasdesignatedbyLender,andthentoreduceprincipal.
D.AllpaymentsmadehereundershallbemadebyBorrowersfreeandclearof,andwithoutdeductionfor,anyandallpresentandfuturetaxes,levies,charges,deductionsandwithholdings.Borrowersshallpayupondemandanystamporothertaxes,leviesorchargesofanyjurisdictionwithrespecttotheexecution,delivery,performanceandenforcementofthisNote.
3.SECURITY:
ThisNoteissecuredbythatcertainDeedofTrust(theDeedofTrust)ofevendateherewithmadebyBorrowers,astrustor,toFirstAmericanLandTitleInsuranceCompany,astrustee,forthebenefitofLender,asbeneficiary,whichshallberecordedintheOfficialRecordsof_________(Address),encumberingcertainrealpropertycommonlyknownas17AcornLanein_________(Address)(theProperty),describedwithparticularityintheDeedofTrust,whichBorrowersintendtooccupyastheirprincipalplaceofresidence.TheDeedofTrustprovides,amongotherthings,asfollows:
IftheTrustors(hereintheBorrowers)shallsell,convey,encumber,grantanylienupon,orotherwisealienatetheProperty,oranypartthereof,oranyinteresttherein,orshallbedivestedoftheirrespectivetitleoranyinterestthereininanymannerorway,whethervoluntarilyorinvoluntarily,withoutthewrittenconsentoftheBeneficiary(hereintheLender)beingfirsthadandobtained,Beneficiaryshallhavetheright,atitsoption,exceptasprohibitedbylaw,todeclareanyindebtednessorobligationssecuredhereby(including,withoutlimitation,theNote),irrespectiveofthematuritydatespecifiedtherein,immediatelydueandpayable.
4.MATURITYEVENT:
UpontheoccurrenceofaMaturityEvent(ashereinafterdefined),theentireunpaidprincipalbalance,togetherwithallaccruedbutunpaidinterestthereon,andallothersumsduehereunder,shallbecomeimmediatelydueandpayablewithoutfurtherdemandornoticetoBorrowers.Totheextentpermittedbylaw,anyofthefollowingeventsshallbeaMaturityEventunderthisNoteandtheDeedofTrust:
A.BorrowersshallfailtopayanyamountoftheprincipalorinterestonthisNotewhendueandshallfailtocuresuchnon-paymentwithinten(10)daysfollowingwrittennoticeofsuchdelinquency.
B.ThereshalloccurabreachordefaultintheperformanceofanyobligationofBorrowerscontainedinthisNote,theDeedofTrust,theEmployeeLoanAgreementexecutedconcurrentlyherewith(theLoanDocuments),oranyotheragreementnoworhereafterenteredintobyeitheroftheBorrowers,ontheonehand,andtheCompany,ontheotherhand,withrespecttotheProperty.
C.ThereshalloccurabreachordefaultintheperformanceofanyobligationofBorrowersinanyotherdeedoftrustorothersecurityinstrument(whethersuperiororsubordinateinrightstotheDeedofTrust)noworhereafterencumberingtheProperty.
D.Borrowersshallsell,convey,encumber,grantanylienupon,orotherwisealienatetheProperty,oranypartthereof,oranyinteresttherein,orshallbedivestedoftheirtitleoranyinterestthereininanymannerorway,whethervoluntarilyorinvoluntarily,withoutthewrittenconsentoftheLenderbeingfirsthadandobtained.
E.Borrowers(i)admitinwritingtheirinabilitytopaydebts,(ii)makeanassignmentforthebenefitofcreditors,(iii)fileavoluntarypetitioninbankruptcy,effectaplanorotherarrangementwithcreditors,liquidatetheirassetsunderarrangementwithcreditors,orliquidatetheirassetsundercourtsupervision,(iv)haveaninvoluntarypetitioninbankruptcyfiledagainstthemthatisnotdischargedwithinsixty(60)daysaftersuchpetitionisfiled,or(v)applyfororpermittheappointmentofareceiverortrusteeorcustodianforanyoftheirpropertyorassetswhichshallnothavebeendischargedwithinsixty(60)daysafterthedateofappointment.
F.Theoccurrenceofthefourth(4th)anniversaryofthedateofthisNote.
G.Theoccurrenceoftheninetieth(90th)dayfollowingtheterminationbyEmployeeofhisemploymentwithLenderforanyreason(otherthanLender’sterminationofsuchemployment,withorwithoutcause,ordeath).
H.AnyrepresentationorwarrantyofBorrowerscontainedhereinorinanycertificateoragreemententeredintobetweenBorrowersforthebenefitofLenderinconnectionherewithshallprovetobefalseormisleadinginanymaterialrespect.
I.TheDeedofTrustisnotrecordedagainstthePropertyattheclosingofthepurchasebyBorrowersofthePropertyoratanytimeceasestobeavalidfirstprioritylienontheProperty.
J.AnylienorothermonetaryencumbranceisimposedagainsttheProperty;
provided,however,thatintheeventthatalienormonetaryencumbranceisimposedagainstthePropertywithouttheconsentofanyBorrowers,aMaturityEventshallnotoccuruntilthelienorothermonetaryencumbranceisimposedagainstthePropertyforaperiodofatleastthirty(30)days.
K.One
(1)yearfollowingthedeathoftheEmployee.
L.Borrowersdefaultintheirobligationtopayanysumortoperformanyobligation,whichissecuredbyadeedoftrust,mortgage,lien,orotherencumbranceontheProperty(otherthantheDeedofTrust).
5.LATECHARGE:
BecausetheactualdamagetoLenderresultingfromanydefaultbyBorrowersinthepaymentofanyinstallmentofprincipaland/orinterestwhendueisimpracticalandextremelydifficulttoascertain,inadditiontoitsotherrightsandremedies,Lendershallbeentitledtorecoversixpercent(6%)oftheamountofanysuchdelinquentinstallmentasliquidateddamages,ifBorrowersfailtopayanyinstallmentwithinten(10)daysafterBorrowersreceivewrittennoticefromLenderoftheamountdueandowing.
6.BORROWERS’REPRESENTATIONS:
BorrowersherebymakethefollowingrepresentationsandwarrantiestotheLenderandacknowledgethatLenderisrelyingonsuchrepresentationsinmakingtheloan:
A.BorrowersshallhavegoodandmarketabletitletothePropertyfreeandclearofanysecurityinterests,liensorencumbrancesotherthantheDeedofTrustinfavorofLendersecuringthisNote;
B.TheconsentofnootherpersonorentityisrequiredtogranttoLenderthesecurityinterestinthePropertyevidencedbytheDeedofTrust;
C.Therearenoactions,proceedings,claims,ordisputespendingor,totheBorrowers’knowledge,threatenedagainstoraffectingtheBorrowersortheProperty.
7.BORROWERS’ADDITIONALOBLIGATIONS:
BorrowersshalltakeanyandallfurtheractionsthatmayfromtimetotimeberequiredtoensurethattheDeedofTrustcreatesavalidfirstprioritylienonthePropertyinfavoroftheLenderassecurityfortheNote.BorrowersshallnotfurtherencumberthePropertyorpermitanylientoencumbertheProperty.UponrequestbyLender,butnotmorefrequentlythanonceduringanycalendaryear,BorrowersshallfurnishevidencereasonablysatisfactorytotheLenderthat:
(i)BorrowershavegoodandmarketabletitletotheProperty;
(ii)theconsentofnootherpersonorentityisrequiredtograntafirstprioritysecurityinterestinthePropertytotheCompany;
(iii)theDeedofTrustisafirstprioritysecurityinterestintheProperty,and(iv)therearenootherdeedsoftrust,mortgagesorencumbrancesagainsttheProperty.Ifitshouldbehereafterdeterminedthatthereare
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