SAMPLE LOAN AND SECURITY AGREEMENTWord下载.docx

SAMPLE LOAN AND SECURITY AGREEMENTWord下载.docx

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DEFINEBUSINESSORNON-PROFIT>

withitsprincipalplaceofbusinessat<

GIVECOMPLETEADDRESS>

iseffectivethis______dayof________,<

YEAR>

_____,thefirstdayonwhichallpartiesheretohaveexecutedit.

PARTIDEFINITIONS

A）Asusedinthisdocument,thewordsandphrasessetforthbelowshallhavethefollowingmeanings:

1）“Agency”meansVermontAgencyofCommerceandCommunityDevelopment.

2）“AgencyProcedures”meanstheproceduresoftheAgencydescribedasAgencyproceduresfortheVermontCommunityDevelopmentProgram,astheymaybeamendedfromtimetotime.AcopymaybefoundintheVCDPGrantsManagementGuide;

usersareencouragedtoconsultVCDPstaffforcurrentlanguage.

3）“Borrower"

means<

COMPLETELEGALNAMEANDDESCRIPTION>

.

4）"

Collateral"

DEFINECOLLATERALBORROWERISOBLIGATING>

5）“Consortium”meansthe<

NAMEALLTOWNS/CITIES/VILLAGESofGRANTEES>

6）“Conversion”meanschangingtheformoffinancingofaproject,e.g.frombridgefinancingtopermanentfinancing,thatdoesnotincreasetheamountofdebt.

7）"

Debt"

meanstheLoanwhichthisdocumentsecures,anyandallrenewalsthereof,theindebtednessrepresentedthereby,andanyotherindebtednesswhichisnowormayhereafterbecomedueandowedfromBorrowertoLender.

SAMPLELOANANDSECURITYAGREEMENT-ConsortiumGrantees（continued）

8）"

Encumbrances"

meansthoseliensandencumbrances<

IFANY>

describedinAppendix1tothisLoanAgreement,listedintheorderoftheirpriority.<

IFAPPLICABLE>

9）"

Grant"

meanstheVermontCommunityDevelopmentProgramgrantawardedtotheConsortium,thetermsofwhicharereflectedintheGrantAgreement.

10）“GrantAgreement”meansGrantAgreement#____/__IG（__）betweentheConsortiumandtheStateofVermont,AgencyofCommerceandCommunityDevelopment,includingallattachmentsandamendmentsthereto.

11）“Grantee”meanstheConsortiumcomprisedof<

NAMEALLTOWNS/CITIES/VILLAGESOFGRANTEE>

thathasreceivedtheGrant,allofwhicharejointlyandseverallyliablefortheentireGrant.

12）"

HUD"

meanstheU.S.DepartmentofHousingandUrbanDevelopment.

13）“LeadGrantee”meansthe<

TOWN/CITY/VILLAGEofLEADGRANTEE>

14）“Lender"

meanstheConsortiumcomprisedof<

NAMEALLTOWNS/CITIES/VILLAGESofGRANTEES>

15）"

LoanAgreement"

meansthisLoanandSecurityAgreement.

16）“NationalObjective”meansthespecificgoalsandpurposesofthisprojectsetforthinAttachmentBoftheGrantAgreement,whichmustaddressthepurposessetforthinTitleI,section101（c）oftheFederalHousingandCommunityDevelopmentAct,42U.S.C.sections5301etseq.,andconformtoproceduressetforthinfederalregulationsat24C.F.R.section570.483.

17）“Personalguarantee”meanstheguaranteeofaprincipalofBorrowerthat,intheeventofBorrower’sdefaultwithrespecttothisLoan,theprincipalshallrepayanyoverdueinstallmentorinstallments,ortheentireamountofprincipalandinterest,thataredueandpayable.IftheprincipalofBorrowerismarried,theprincipal’sspouseshallalsosignandbeboundbythepersonalguarantee.

18）“Personalproperty”meansthepersonalpropertyownedortobeacquiredbyBorrowerfortheprojectasdescribedinAppendix2heretoandtobedescribedintheUCC-1.

19）"

Project"

meanstheprojectasdescribedinAttachmentBoftheGrantAgreement.

20）“Realproperty”meanstherealproperty（includingimprovements）describedinAppendix3tothisLoanAgreement,subjecttotheEncumbrancesdescribedinAppendix1tothisLoanAgreement.

21）"

Refinancing"

meanstherestructuringofalloraportionofadebt.

22）"

Sale"

meanstheexchange,transferorotherdisposition,inconsiderationofsomethingofvalue,orseriesofrelatedsales,exchanges,transfersordispositionsofallorsubstantiallyalloftherealproperty,personalpropertyorboth,whichtransferstitleandpossessionoftheproperty.Saleincludesbutisnotlimitedtoasaleunderforeclosure（includinganon-judicialforeclosuresalepursuantto12V.S.A.section4531a,etseq.）orasaleinlieuofortransferpursuanttocondemnationbyapublicauthority.

23）“Secretary”meanstheSecretaryoftheAgency.

24）"

SecurityInterest"

meanstheUCC-1,evidencingtheinterestinthePersonalProperty,andthemortgage,evidencingtheinterestintherealproperty,giventoLenderpursuanttothisLoanAgreement.

25）"

SeniorDebt"

meansloan（s）orotherfinancingarrangementsfortheProjectfromtheSeniorLenders,including,withoutlimitation,construction,bridgeandtakeoutfinancing（s）,whichindebtednesswillbesecuredbymortgageandsecurityinterestsintheProject;

theterm"

includes,withoutlimitation,anyrefinancingorotherloanmadefortheProject,theproceedsofwhichareusedtorepayordischargeexistingSeniorDebt.

26）"

Seniorlenders"

ifany,means<

NAMEORNAMESOFLENDERS>

27）“StandbyAgreement”meansanagreementsignedbyLender,Borrowerandallpersonswhoown20%ormoreofBorrower,ortowhomBorrowerowesadebtandwhohaveagreedtoforegorepaymentofthatdebtwithoutpriorwrittenpermissionofLender.

28）"

VCDP"

meanstheVermontCommunityDevelopmentProgram.

<

ADDANYOTHERTERMSAPPLICABLETOTHISDOCUMENT>

PARTIICONSORTIUM

A）AVCDPgranttoaconsortiumgoestoallmembermunicipalities.Eachmunicipalityisjointlyandseverallyliableforperformingallofgrantees’andlender’sobligationsundertheGrantAgreementandallrelateddocuments.

B）Forefficiencyofmanagement,aleadgranteeisnamedtoserveasagentfortheconsortium.Theleadgranteeexecutesdocumentsonbehalfoftheconsortium,maintainstheconsortium’sofficialfiles,andotherwiseactsonbehalfoftheconsortium.

C）However,theloanisfromthegranteesasagroup;

thelenderistheconsortium,nottheleadgrantee.ThelegislativebodyofeachmembermunicipalityoftheconsortiummustpassallresolutionsrequiredbytheVCDP.

D）Theborrowermaybelocatedinamunicipalitydifferentfromtheleadgrantee.AlldocumentsrelatedtoaVCDPgranttoaconsortiumthatmustbefiledinlandrecordsarefiledinthelandrecordsofthemunicipalityinwhichtheprincipalplaceofbusiness,ortheparticularaidedenterprise,oftheborrowerislocated.

PARTIIICONSIDERATIONANDINCORPORATIONOFGRANTAGREEMENT

A）LendermakesthisLoantoBorrowerpursuantto,andasconsiderationforBorrower’sactivitiesassetforthin,theGrantAgreement,whichisincorporatedhereinbyreference,andacopyofwhichBorrowerandLendermaintainintheirrespectivefiles.

B）BorroweragreestorepaytheLoanunderthetermsofBorrower’sPromissoryNotetoLenderintheamountof_______dollars（$______.__）dated_______,<

inaccordancewiththerevolvingLoanFundpoliciesandprocedures,ifapplicable>

PARTIVSURVIVALOFTHISLOANAGREEMENT

A）ThisLoanAgreementshallsurvivetheclosingcontemplatedhereunder,andallobligationspursuanttothisAgreementofeachpartyheretoshallcontinueuntiltheLoanhasbeenrepaidinfull.

PARTVPURPOSEOFTHELOAN

A）ThepurposeofthisloanshallbetosupporttheprojectandtheachievementoftheNationalObjective,asdescribedinAttachmentBoftheGrantAgreement.TheproceedsofthisLoanshallbeusedsolelyforBorrower’sspecificactivitiesinconnectionwiththeGrant.

PARTVITERMSOFTHELOAN

A）ThisLoanisintheamountof_______________dollars（$_______.00）,at__%interestperyear,compounded<

annually,monthly>

foraperiodof___years.

B）Paymentsofprincipalandinterestintheamountof$_____.__,payableonthe______dayofeach<

MONTH/ORIFANNUAL,ONTHEDAY/MONTHOFEACHYEAR>

shallbeginon_________,<

_______,andtheLoanshallbefullyrepaidnolaterthan<

DATE>

________________.

C）Deferredpaymentloan:

spellouttheexactterms,including:

1）whetherinterestaccruesduringtheperiodofdeferredpayments;

2）whetherthereareanypaymentsduringperiodofdeferral,suchaseitherprincipalorinterestonly,butnotboth;

3）datesandamountsofpayments,includingmonthandyearwhentheybeginandend;

4）whether,andifso,underwhatconditions（suchasfailuretousefororiginalpurpose）,Lendercanunilaterallyterminatedeferralofloanand/ordeclareloantobeindefault（coordinatewithdefaultprovisionsinPartXVofthisLoanAgreement）;

5）resultofterminationofdeferral,suchastotalprincipalandinterestdue,andanyadvancesbylender,becomingdueandpayableinfullwithinxperiodoftime.>

PARTVIIPREPAYMENT

A）BorrowermayprepayanyportionorallofthisLoanatanytimewithoutpenalty.AnyamountspaidinexcessoftheregularpaymentdueshallbeappliedtoreducetheprincipalamountoftheLoan.

PARTVIIIS