LOAN AGREEMENT FORM

Please fill fields highlighted in red and submit.

Amount Borrowed
$

Cheque No

Final Payment Due

Terms:
$

A/C No

20

FOR VALUE RECEIVED I/WE

as principal and jointly and severally promise to pay to the JAMAICA TEACHER'S COOPERATIVE CREDIT UNION LTD.
or order the sum of (Amount in Words)($ )
as follows:
(Monthly Installments in Words)
on

and a like amount each succeeding month, thereafter, the whole sum to be repaid in or within
months from date;
interest to be at
PER CENT PER ANNUM
and payable monthly
As Collateral security for this note the Borrower has deposited with said Credit Union.
Shares and

In case of any default in payment as herein agreed, unless excused by the Board of Directors, the entire balance of this loan shall become immediately due and payable on demand. This loan shall also become due and payable when the borrower becomes bankrupt, or leaves Jamaica without giving at least six months notice or loses his/her common bond.
Said Principal and co-makers jointly and severally promise to pay all fines imposed in accordance with the rules of the Credit Union, for failure to comply with the terms of this loan together with all costs or expenses incurred in the collection of any sum due; also, if the holder hereof after default, shall place this loan in the hands of a solicitor for collections, to pay all solicitor's costs incurred.

Signature of J.P. or Credit Union Officer

Signature of Borrower

Signature of J.P. or Credit Union Officer

Signature of Co-maker/Guarantor

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