Loan Agreement
Private Hard-Money Lending Agreement
01
1.01 Loan Purpose. This loan is provided to finance the purchase and rehabilitation of a single residential property located in Southeast Michigan, specifically for the purpose of resale to a third-party investor.
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1.02 Loan Amount. The principal amount of the loan shall be $20,000.00 (Twenty Thousand Dollars), disbursed in a single lump sum at closing.
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1.03 Repayment Terms. Borrower shall repay the loan in full upon the successful resale of the property to a third-party investor. No monthly interest payments are required during the rehabilitation period.
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1.04 Interest Rate. The loan shall bear interest at a rate of 10% per annum, calculated on a simple interest basis from the date of disbursement until the date of full repayment.
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1.05 Loan-to-Value. The loan-to-value ratio for this transaction is 100%. Borrower shall provide a 10% down payment of the loan amount as a security deposit to Fast Flip Fund.
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1.06 Property Requirements. The property must be a single-family residential unit located in Southeast Michigan. The property must be non-owner-occupied and must be in a condition suitable for rehabilitation.
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1.07 Default. Borrower shall be in default if they fail to repay the loan within 15 days of the property's resale or if they fail to provide the required 10% down payment.
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1.08 Governing Law. This agreement shall be governed by and construed in accordance with the laws of the State of Michigan. Any disputes shall be resolved through binding arbitration.
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1.09 Entire Agreement. This document constitutes the entire agreement between Fast Flip Fund and the Borrower and supersedes all prior discussions and negotiations.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
Fast Flip Fund
Date: October 26, 2026