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Loan Agreement Modification - Template, Sample Form

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Loan Agreement Modification - Template, Sample Form
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LOAN AGREEMENT MODIFICATION

State of Alabama



BACKGROUND:

A. This Loan Agreement Modification (the "Modification") modifies the Loan Agreement (the "Agreement") entered into as of ________ by and between the following Borrower (the "Borrower"):

________
________

and the following Lender (the "Lender"):

________
________

B. Under the terms of the Agreement, the Borrower promised to pay the Lender the amount of $________ (________) (the "Loan") plus accumulated interest under the terms set forth in that Agreement.

C. The Parties mutually agree to modify the terms of the Agreement.

Now, therefore, for and in consideration of the mutual covenants contained in this Modification, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:

I. Terms of Amendment.


IN WITNESS WHEREOF, Borrower and Lender have executed this Modification under seal as of ________.


LENDER:





Signature of ________:


______________________________________________




BORROWER:





Signature of ________:


_______________________________________________

Fields you complete are inserted into the document live. This template is general guidance only — not legal advice.