Conditional Loan Agreement

CONDITIONAL LOAN AGREEMENT

THIS DEED is made on the day of 2009

BETWEEN:

______of ______

(Hereinafter referred to as the Lender) as the first part and

______of ______

(Hereinafter referred to as the Borrower)

NOW THIS DEED WITNESS AS FOLLOWS:

(1)In consideration of the sum of £ (insert amount in words Sterling) loaned to the Borrower by the Lender and the receipt of which sum the Borrower hereby acknowledges the Borrower hereby covenants with the Lender to repay to the Lender the total of the said sum of £ upon the first anniversary of this agreement.

(2)The Borrower hereby further covenants with the Lender interest upon the sum loaned referred to above at 0% per annum on the balance owed at ______2010.

(3)If any part of the loan and interest referred to above is unpaid the full balance of the monies loaned and interest due under this deed shall immediately become due and payable.

(4)Not withstanding and without prejudice to the provisions of clauses 1 – 3 inclusive of this deed the loan and interest referred to herein shall not be repayable by the borrower to the lender in the event that upon the first anniversary of this deed the Halifax House Price Index has not increased by more than 20 percentage points from the Published rate at the date of this deed.

(5)The Lender and Borrower hereby acknowledge that this is a private loan and that the Lender is not in the business of money lending as referred to in the provisions of the Consumer Credit Act 2006.

(6)This deed constitutes the terms of the entire agreement between the Lender and the Borrower in respect of the monies loaned.

(7)The provisions of the Contracts (Rights of Third Parties) Act 1999 are excluded from the operation of this agreement.

(8)This agreement is governed by the laws of England and Wales.

SIGNED AS A DEED BY LENDER

______

In the presence of:

Witness Name:

Witness Address:

SIGNED AS A DEED BY BORROWER

______

In the presence of:

Witness Name:

Witness Address: