The following sets out the rights and obligations between you and this firm.

 

1. The Loan

If I accept this contract, I will lend you the amount of credit you desire to borrow.

This amount is stated on the contract under “Total Amount of Credit”. You authorize me to distribute the loan in the way set out under “Who I will pay  your loan to” this could be the same day. The total amount, including interest which you will have to pay is set out under “Total amount of repayments”.

2.      Loan Duration

Loan ranges from 1 – 15years max duration and failure to pay back the loan within the expected date/ period agreed and signed will result to legal actions taken against the borrower by our attorney

3. How is interest calculated

I calculate interest paid by you by applying the daily percentage rate of interest to the unpaid daily balances under this contract. The unpaid daily balance is the amount you owe me at the end of any particular day (Pacific Time), and is the difference between all amounts credited and all amounts debited to your account at the end of the day on any particular day. The daily percentage  rate is determined by dividing the annual percentage rate by 365. This interest accrues daily and is debited to your account calendar monthly in arrears immediately after the last day of each calendar month. If you payout all the monies owing under this contract, then interest for the period from the last debit date up to but excluding the payout date will be debited on the payout date. Under this contract, accrued interest debited on a day will not include interest relating to that day.

 

4.      Repayment

You must repay the Total Amount of Credit plus the interest charges by monthly repayments. The amount of each repayment is stated under “Amount of each repayment”. You must pay the first repayment on the date stated under “Repayments”. After that, you must pay a repayment on the same day of each following month. You must make the number of repayments stated under “Number of repayments” for the period stated under “Period of repayments (loan term)”, and pay the balance owing under this contract on the date the final payment is due. You agree not to deduct anything from any such repayment. This means you cannot deduct anything that you claim we owe or could in the future owe you. You must make payments to us by any of the following methods;

i)in person, at my address shown on the front of this contract document

1. by direct debit bank transfer

• by telephoning my office with your credit card details

1. Western Union/Money Gram

5. Fix and Flip Requirement

 

• Credit Score must be 550 or above (the higher the better) and debt to income ratio typically cannot exceed 45
• Our fix and flip loan provides funding to a borrower for a period of 1-3 years
• The Borrower repays the loan once the property is fully improved and sold
• Maximum LTV ratio is at 65%
• 100% financing if it covers up to 65% of the ARV

6.    Cost

Borrowers is subjected to the Loan Origination cost for the loan processing before the loan can be approved and set aside for disbursement to borrower designated Bank account. The Loan Origination cost is calculated in a fixed percentage rate of 3%.

7.   Termination of Loan

• may, at any time after any amount of the Loan granted to the Borrower is canceled by the Borrower or deemed by us to be canceled resulting in the net loan amount of the Loan being reduced to less than $100, terminate the Loan by notice to the Borrower, in which event all obligations and liabilities there under shall become immediately due and

• Notwithstanding any other provision in these Terms and Conditions, in the event that the each bi-monthly installment payable by the Borrower under the Loan is less than ($100 for any reason what so ever, I may at any time thereafter terminate the Loan by notice to the Borrower, in which event all obligations and liabilities there under hall become immediately due and

8.   Commissions paid to or by me

A commission is payable by me under “Who I will pay your loan to” to me, and to the sales consultant named on this contract. The amount of commission payable is unascertainable and / or undiscoverable as at the Disclosure date of information. A commission is payable to the company named under “Who I will pay your loan to” by me for the introduction of credit business. The amount of commission is unascertainable as at the Disclosure date of information.

9. I may end this contract in certain circumstances

I am entitled to give you a written notice requiring you to correct any default of this contract. If you don’t do the things specified in the written notice within 30 days, I can require you to pay me whatever money you owe to me under this contract. The money you owe to me includes the unpaid balance of the loan, any other accrued interest, any fees and charges due and owing and any enforcement expenses. If the law does not require me to do so, I do not have to give you a written notice before I can require you to pay me whatever money you owe to me under this contract. In addition, subject to the Consumer Credit Code, I may exercise my other rights under this contract, and any right available to me under law.

10.    Default

Having followed the terms of the Consumer Credit Code, 1995 and without affecting my right to demand repayment at any time, I may demand repayment if any of the following happen (defaults): if you fail to pay any money you owe me on the date it  is due and this failure last for more than 30 days after I have written to tell you that the amount is overdue; if you break any of the terms and conditions of this agreement and you do not resolve the position within 30 days after I have written to tell you to do so; if you or your guarantor die or do something which could lead to bankruptcy; if your guarantor serves me with a notice that he or she will no longer act as your guarantor if any decree, judgment or order of court is obtained against you and you do not pay it within one month from the date it was issued; if any information supplied for or by you in application for the credit facility was false, misleading or inaccurate; if you do not provide me with the security within 10 days after I have written to ask you for it or within any extra time I may allow; if the  security is also security for other money you owe me (or any of our subsidiaries) and the security becomes enforceable to pay any of the other

Money.

11.    Enforcement expenses

Enforcement expenses may become payable under this contract in the event of a breach. I may debit these expenses to your account. They will become immediately due for payment once debited.

Enforcement expenses may include solicitors’ legal costs and the reasonable expenses of my staff and my facilities incurred in relation to any enforcement.

12.    Change of circumstances and address

You must tell me promptly if you change your residential or postal address, or if you think there is any information that I should be aware of about your ability to comply with this contract.

13.    Notices

Any notice or demand given by me under this contract or required by law may be given in writing, can be signed by any of my officers, and can be delivered  personally or by email to the address you have nominated for delivery of notices, or  if no such address has been nominated by you, your email address as last known to me. Any such notice or demand shall be deemed to have been received by you when it would have been delivered in the ordinary course of post.

14.    Joint and several liabilities

If you are two or more persons, your obligations as debtors are both joint and several.

15.    Date of Contract

This contract takes effect on the date that I accept your offer to borrow.

16.    Assignment

I may deal with, assign or transfer to any person or company any of my rights and interests under this contract.

17.    Consumer Credit Code and other laws

To the extent that any provisions or parts of this loan contract are inconsistent with the Consumer Credit Code or other laws, they will be deleted so that the rest of the contract shall remain valid and enforceable. All disclosures under this contract are made on the basis of assumptions permitted by the Consumer Credit Code.

18.    Information

The Borrower shall supply us immediately upon request all requested details, information, materials, and explanation (except information of a proprietary nature) regarding the operations and finances of the Borrower as may be reasonably required from time to time.

 

19.    Governing Law

The Loan shall be governed by and construed according to the laws of United Kingdom that apply to agreements made and performed in the state, without regard to its choice of law provisions.

20. TERMS & CONDITIONS: The Borrower will need to enter a Loan application with us before processing could be After filling the “Loan application form”, your details will be reviewing by our financial analyst then I will get back to you with the loans repayment analysis, and if suitable we will start full processing.

1. Application

To be completed and duly signed.

 

2. Supporting Documents to be

 

1.  

Such as International Passport, Driver’s License, Company ID or any Government issued valid ID.

 

1. Proof of Residential

Such as; Utility Bill, Electricity, Gas, Water or Wastage Bill. Bank Statement of account for the past 3 months

Salvators Lending Limited. has a large capital base. Our Loan Capital ranges from a minimum of six (6) figures number to a maximum of Nine (9) figures number ($100,000) – ($900,000,000) all measured and accounted in US Dollars.

 

We charge 5% interest rate for the loan annually. Note that this calculated in effective interest rate or annual percentage rate, and the loan repayment starts three (3) months after loan has been transferred to applicants. Loan ranges from 1- 15years max duration.

20.    Signing of Loan Contract Agreement:

In completing the signing of the loan contract agreement, Borrower will have to meet with the “Loan Origination Cost” for the processing of the loan and once this is done; loan will be approved and set aside for transfer after closing of the loan on the draw-down date. It takes just

2 – 4 business working days to have your loan processed, approved released to you.

21.    Activity:

The plan is expected to initiate / support funding against investment funding including: Mutual funds, Business Financing, Personal Loans, Commercial Loans for Companies and private Individuals, Real Estate Financing, Hard Money Loans, Equity & Debt Financing,

Bridge & Construction Financing.

This term sheet sets out the general guidelines of the loan program, and it is designed as an aid to prospective borrowers, or other clients. This term sheet does not represent or imply a contract or an offer to lend funds. An offer to lend funds may only be made by written commitment letter issued by the Lender to a prospective Borrower. This term sheet is subject to change at any time without notice at sole discretion of the Lender. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend.

We sincerely trust you will be satisfied with the terms, rates and conditions of our loan programs. Should you have any questions you would like to ask so as to know, feel free and do not hesitate to do so in order to give you a clear clarification.

Please, write to us via e-mail:

Info@stormpeakfinancellc.com

Or, kindly give us a call on: +1 3037108426

Thank you for your anticipated patronage and cooperation.

Executed as a TERMS & CONDITIONS:

 

Executed for and on behalf of Storm Peak Finance Llc

 

In the presence;

Michael J Prendergast

CEO/President