Disclaimer
The information provided serves as a general example for agreements related to secured short-term real estate financing arrangements. It is not legal advice and should not replace consultation with a qualified attorney experienced in real estate or contractual law. Regulations may vary by jurisdiction, and adjustments might be necessary to ensure compliance. The use of this template is at the user’s own risk, and we accept no liability for errors, omissions, or consequences resulting from its use without professional review.
Please note: This is a sample Hard Money Loan Agreement template, provided for general illustration only. Specific terms may differ depending on individual agreements and relevant regulations.
Hard Money Loan Agreement Sample
Parties Involved:
Lender: XYZ Hard Money Lenders LLC
Address: 123 Loan Street, Los Angeles, CA 90001
Borrower: John Doe
Address: 456 Elm Avenue, Los Angeles, CA 90002
Property Description:
The property securing this loan is located at 789 Maple Drive, Los Angeles, CA 90003, or other real estate as specified herein.
Loan Terms:
The lender agrees to provide a hard money loan of $150,000 at an interest rate of 10% per annum, with a repayment schedule as detailed below. The loan is to be secured by the property described above.
Borrower Responsibilities:
The borrower agrees to use the loan exclusively for the purposes outlined, maintain the property in good condition, and adhere to repayment terms. Default triggers remedies as specified herein.
Governing Law:
This agreement shall be governed by the laws of the State of California. Disputes shall be resolved within the jurisdiction of the Los Angeles courts.
Additional Provisions:
- The borrower agrees to provide all necessary documentation and access for appraisal and inspection.
- Any amendments to this agreement must be in writing and signed by both parties.
- Default may result in foreclosure or other remedies to recover the loan amount and associated costs.
Los Angeles, ______________________
Jane Doe (Lender)
John Doe (Borrower)