LOAN AGREEMENT ACKNOWLEDGEMENT OF DEBT entered into between:___________________________________(“the Lender”)and___________________________________(“the Borrower”) 1 Amount of loanThe Lender hereby agrees to lend the sum of ________________to the Borrower on the terms set out hereun-der.2 Payment of loan to BorrowerIt is agreed between the parties that payment of the loan amount will not be made to the Borrower before the expiry of three business days after the conclusion of the contract. During the said period of three business days the Borrower may terminate the contract at will. It is further agreed that the Lender shall not be entitled to interest for the period preceding the date upon which the money is paid to the Borrower.3 Period of loanThis loan shall endure for a period of ______ months calculated from (date). (In order to claim exemption from the Usury Act 73 of 1968 this number may not exceed 36 months).4 InterestThe Borrower shall be obliged to pay interest at the rate of __________ (percentage) per annum, such interest to be paid together with the capital sum of the loan at the end of the loan period.Or The Borrower shall be obliged to pay interest at the rate of _________ (percentage) per annum, the interest and capital to be paid in equal monthly instalments of __________ 5 Exceptio non numeratae pecuniaeThe Borrower expressly renounces the benets of the exceptio non numeratae pecuniae and conrms that he understands the meaning of this exception and the eect of its renunciation. 6 Place and time of repaymentIf repayment is made by way of monthly instalments all payments must be made by the Borrower on or before the third business day of every month at ___________________________________________________________________________________ (address of payment) or such other address as the Lender may at a later stage advise in writing