Lender: Direct Online Finance Services
Borrower: sherri ohara
Address: 168 Drement Quarters, Accra,GHANA.
South Africa
Address: U.S.A
Phone Number:+ 1 734-612-1976
Pursuant to applicable laws and regulations of Spain the DIRECT ON
LINE FINANCE HAS LICENSED TO YOU THIS LOAN UNDER THE LOAN TERMS AND
CONDITIONS {"LT&C"} OF DIRECT ON LINE FINANCE LICENSE AGREEMENT AS
MODIFIED BY THE ADDENDUM. THE LT&C UNDER LISTED BELOW IS THE AGREEMENT
THAT MUST BE AGREED TO IN ORDER TO USE THE DIRECT ON LINE FINANCE
services. I am Mrs Merit the loan department Director for the
DIRECT ON LINE FINANCE hereby tenders the Unsecured Loan of
$1,500,000.00
USD for 5Years Re-payment plan below:
THE TERMS OF SERVICE
Loan Term: 1 years
Monthly Loan Payment: $127,040.55
Cumulative Payments: $1,524,486.58
Total Interest Paid: $24,486.58
Note: The monthly loan payment was calculated at 11 payments of $127,040.55 plus a final payment of $127,040.53.
* Borrower is to start the Loan repayment 3 Months after receiving the
loan funds. Monthly Loan Re-payments of $127,040.55 would be debited
from your account or arranged accounts on the 8th of every Month for a
Period of 12 Months to enable you pay off this loan. Borrower shall
repay the whole principal of the Loan and interest thereon in
accordance with the Loan term agreed upon under this Agreement. If the
loan is overdue, interest would be charged during the period that it
is overdue. In the event that delayed repayment shall be necessary,
Borrower shall apply for extension to Lender ten days prior to the
expiration of the Loan term. Upon approval by Lender of such
application, a delayed repayment agreement shall be entered into, and
such agreement shall be legally binding on Guarantor.
PROMISSORY NOTE AND LOAN AND NON-COLLATERAL SECURITY AGREEMENT is
entered into and effective the Closing Date (the“Agreement”) by and
between the Lender and Borrower named above. Capitalized terms not
otherwise defined shall have the meaning set forth above. In
consideration of the mutual covenants and agreements contained herein,
the Lender and the Borrower agree as follows:
THE LOAN: Subject to the terms and conditions of this Agreement, the
Lender hereby agrees to lend to the Borrower, and the Borrower hereby
agrees to borrow from the Lender on the Closing Date, the Principal
Amount (the “Loan”). The Loan and the obligation of the Borrower to
repay the Loan shall be evidenced by this Agreement, which is also the
Promissory Note (the “Note”).
PROMISSORY NOT: The Borrower hereby promises to pay to the order of
the Lender the Principal Amount shown above (to the extent advanced by
the Lender to the Borrower), together with interest thereon from the
Closing Date at the Interest Rate until the Principal Amount is paid
in full. Interest shall be computed for the actual number of days
which have elapsed, on the basis of a 360-day year. The Principal
Amounts shall be due in Monthly installments as shown above with the
final principal payment due on the Maturity Date. Any payments not
made when due shall bear interest at a per annul interest rate equal
to 10% per annul (the “Late Payment Rate”). In the event that any
Monthly payment is more than fifteen (15) days overdue, the Borrower
shall pay a late fee in an amount equal to five percent (3%) of the
past due amount. At the option of the Borrower, the Principal Amount
may be prepaid without penalty at any time. Partial prepayments of the
Principal Amount shall be applied to the last maturing principal.
Monthly payments shall be due as shown above. A schedule of the
principal and interest component of each Monthly payment is shown
above.
NON-COLLATERAL SECURITY: As collateral for the Borrower’s obligations
under this Note and this Agreement, Borrower hereby grants to Lender a
security interest in now owned or hereafter acquired by Borrower in
and to the personal fees of Borrower. Borrower would be charged a
refundable fee of $540USD for the Registration and Activation of
your Loan Upfront based on Maturity of the loan. Upon conclusion of
loan transaction, FUNDS TRANSFER would be made to borrower within
48hours depending on the means borrower wishes to receive the loan.
The loan is protected by a hard cover INSURANCE seal which states that
the insured {loan} cannot be tampered with until it reaches the
insuree {the borrower} for guarantee of safe delivery. In the event
that Borrower should violate any clause in this article, Lender shall
have the right to recall the Loan, suspend disbursement of any portion
of the Loan not yet used, or impose other credit sanctions with all
capitalized terms having the meanings defined for them in the Direct
Access Finance Non-Collateral Process.
CONDITIONS OF SERVICE: Borrower shall provide Lender with such
relevant information as ■ Proof of Identity. A valid passport or
driver’s license or Medical Card or birth certificate. Proof of your
address: 2 utility bills dated within the last three months which show
your name and current address/ current tenancy agreement.■ Up to date
Bank or Building Society Statements. The last 2 months Bank
Statements.■ Evidence of your Income. Wage slips, Benefit Books, Bank
Statements. This confirms your regular income and will help us to work
out affordable loan repayments. Borrower shall fully repay principal
of the Loan and interest thereon according to schedule. Borrower shall
provide advance notice to Lender of any change of Borrower's legal
representative, legal address or operational location or any reduction
of its registered capital. The Borrower represents and covenants as
follows: all of the information set forth in the Application is true
and correct as of the Closing Date, the Borrower has the power and
authority to enter into this Agreement and to borrow and repay the
Principal Amount, the execution and performance by the Borrower of
this Agreement has been duly authorized and will not violate any law,
rule, regulation, order, writ, judgment, decree, determination, or
award presently in effect having applicability to the Borrower, or
result in a breach of, or constitute a default under any other
agreement or instrument to which the Borrower is a party or by which
it or its property may be bound or affected.
EVENTS OF DEFAULT: The entire unpaid principal of this Note, and the
interest then accrued thereon, shall become and be immediately due and
payable upon the written demand of the Lender, without any other
notice or demand of any kind or any presentment or protest, if any one
of the following events (hereafter an “Event of Default”)shall occur
and be continuing at the time of such demand, whether voluntarily or
involuntarily, or without limitation, occurring or brought about by
operation of law or pursuant to or in compliance with any judgment,
decree or order of any court or any order, rules, or regulation of any
administrative or governmental body.
Non-payment of loan, incorrect representation or warranty, default in
covenants and insolvency.
RIGHTS UPON DEFAULT: Upon default by Borrower, Lender shall have all
remedies available to it both in law and in equity in enforcing this
Agreement, this Note, and its rights to the Non-Collateral including,
but not limited to, the following:
a)Accelerate and declare the full balance immediately due on this Note
and commence suit for collection thereof;
b)Take possession of the Non-Collateral or render it unusable, without
notice, except as required by law, provided that said self-help shall
be done without breach of peace;
c)Specifically enforce the terms of the Agreement and
d)Pursue any and all other remedies to enforce the terms of this
Agreement and Lender’s rights to the Non-Collateral.
* BY AGREEING TO THE LICENSE TERMS BY SIGNING "NAME AND DATE" WHERE
PROVIDED BELOW, INDIVIDUAL OR IF YOU ARE AUTHORIZED TO ACQUIRE THE
LOAN ON BEHALF OF YOUR COMPANY OR ANOTHER ORGANIZATION, THEN THE
ENTITY ON WHOSE BENEFIT YOU ACT {IN EITHER CASE "YOU"}, ARE AGREEING
TO BE BOND BY THESE LICENSE TERMS FOR THE LOAN.
* I ...........................have hereby on this day
the.........................have reviewed these license terms and am
prepared and authorized to accept a license for the LOAN on the terms
and conditions set out in these license terms..
* IF YOU HAVE ANY QUESTIONS OR CONCERNS ABOUT THESE LICENSE TERMS,
PLEASE CONTACT DIRECT ON LINE FINANCE BY E-MAIL OR CALL THE NUMBER
ABOVE. IF YOU ARE NOT PREPARED OR AUTHORIZED TO AGREE TO THESE TERMS,
DO NOT SIGN, USE THE DIRECT ON LINE FINANCE SERVICES OR ANY PORTION
THEREOF, AS YOU HAVE NO RIGHT TO DO SO.
Mrs Merit ,
The Loan Dept. Director,
Direct On line Finance Services.
