PERSONAL LOAN AGREEMENT
1. THE PARTIES. This Personal Loan Agreement (“Agreement”) made this 2023-10-21 is between:

Borrower: Konstantinos K Sitistas with a mailing address of 789 Korinthos Street (“Borrower”) and agrees to borrow money from:

Lender: Linda K Stones with a mailing address of 3173 Cairo Avenue and agrees to lend money to the Borrower under the following terms:

2. LOAN AMOUNT. The total amount of money being borrowed from the Lender to the Borrower is 26420€ (“Borrowed Money”).

3. INTEREST RATE. The Borrowed Money shall bear Interest at a rate of 11% compounded annually: 

4. TERM. The total amount of the Borrowed Money, including principal and interest, shall be due and payable on 2025-11-31 (“Due Date”).

Hereinafter known as the “Payment Schedule.” All payments made by the Borrower shall be first applied to any accrued interest and second to the principal balance.

5. LATE PAYMENT. If the Borrower is late by more than 60 days for any payment due, it shall be considered late. If a payment is late, the Borrower shall be charged a Late Fee. The Borrower shall be charged a late fee equal to: 20€

6. ACCELERATION. The Lender shall have the right to declare the Borrowed Money to be immediately due and payable, including interest owed, if any of the events are to occur:

a.) Late Payment. If any payment is late that is due under the Payment Schedule of more than 15 days;
b.) Default. If the Borrower should default on any of the conditions of this Agreement; or
c.) Security. If assets or property that are pledged as Security as part of this Agreement are transferred or sold.

7. SEVERABILITY. If any provision of this Agreement or the application thereof shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons, entities, or circumstances shall be affected, thereby, but instead shall be enforced to the maximum extent permitted by law.

8. GOVERNING LAW. This Agreement shall be construed and governed by the laws.

IN WITNESS WHEREOF, Borrower and Lender have executed this Agreement as of the day and year first above written.

GUARANTOR ADDENDUM

The Guarantor, known as Collins A James, agrees to be liable and pay the Borrowed Amount, including principal and interest, in the event of the Debtor’s default. The Guarantor agrees to be personally liable under the terms and obligations of the Debtor in this Agreement.