Set up an account I can see.

Put at least US$25 into it every week.

On the 1st of September and the 1st of March every year until the loan's paid off, use the money you've accumulated to send at least 600 AUSTRALIAN dollars to my bank account.

Total to be paid: 3,000 Australian dollars + 6% p.a. interest + bank fees. Note risk of losing (or gaining) some money due to changes in the exchange rate.


DATED: 2rd August 2019


of the following address:
5 Dempster Street, West Wollongong NSW 2500
(the "Lender")


of the following address:
11206 Manderly Lane, Wellington, FL 33449
(the "Borrower")


1. Definitions

In this agreement the following terms are defined as follows:

"Agreement" means this loan agreement.

"Business Day" means a day that is not a Saturday, Sunday, public holiday or bank holiday in the State of New South Wales.

"Loan Principal" means the amount provided by the Lender at the direction of the Borrower in the amount of $3,000.00 (three thousand Australian dollars).

"Material Adverse Change" means any change in circumstances of the Borrower that the party knows, or should know, will materially affect its capacity to perform its obligations under this Agreement.

"Outstanding Amount" means the total of the Loan Principal together with any interest accrued, costs, and any other amounts owing to the Lender under this Agreement.

2. The Loan

The Lender shall advance to the Borrower the amount of the Loan Principal on the terms of this Agreement.

3. Interest and Repayment

(a) Interest shall be payable by the Borrower on the Loan Amount, at the rate of 6% per annum (based on a 365 day year) compounded half-yearly.

(b) The Borrower shall make payment of fixed six-monthly installments, on the first day of March and the first day of September of each year, for the period of three years or until the Loan Balance reaches zero, whichever comes first. Each installment shall be in the amount of $600.00.

(c) The Borrower may repay any additional part of the Loan Balance then outstanding at any time.

(d) Any payment made by the Borrower shall be applied by the Lender in the following order:

(I) firstly, towards the payment of any accrued interest;

(II) secondly, towards any costs, expenses or fees necessarily accrued in relation to this Agreement;

(III) thirdly, towards the Loan Principal; and

(IV) fourthly, as a prepayment towards future payments due in accordance with this Agreement.

4. Borrower Undertakings

The Borrower provides the following undertakings to the Lender:

(a) to make no counter-claim or set-off against any payment due under this Agreement and make such payments on or before the date they fall due for payment without any deductions whatsoever; and

(b) to provide notice to the Lender of any Material Adverse Change.

5. Interim Payments

(I) The Borrower shall hold an account in their own name, denominated in US dollars, into which they make interim payments on Friday of every week of an amount of 25 US dollars. (This is the only amount in this Agreement which is specified in US dollars. All other amounts are specified in Australian dollars.)

(II) The Borrower shall organise for the balance of the account holding the interim payments to date to be visible on the web at all times by the Lender.

(III) On the first day of September and the first day of March each year during the term of this Contract, the Borrower shall send a sum of $600.00 to an account held by the Lender at Bank Australia or such other bank as the Lender and the Borrower agree to in writing. The Borrower may use the money accumulated by the interim payments to this purpose, but, in the event that such interim payments are insufficient to meet a six-monthly payment, the Borrower is nevertheless responsible for the full amount of the six-monthly payment.

(V) The Borrower will pay all bank fees necessitated by this contract.

(VI) The Borrower's total repayments as calculeted in US dollars may be higher (or lower) than expected according to exchange rate fluctuations. The Borrower assumes this risk.

6. Notices and Communication

(a) Any notice or communication sought to be made in relation to this Agreement must be in writing and delivered ot the address specified as the address by one of the following methods:

(I) by ordinary or registered post;

(II) by email.

(b) The service of any notice or communication shall be taken as effective:

(I) in the case of delivery by ordinary or registered post, the earlier of the relevant party's receipt of it and the seventh Business Day after mailing it; or

(II) in the case of delivery by email, the earlier of the relevant party's receipt of it and the second Business Day after sending it.

(c) A notice in writing from the Lender shall constitute prima facie proof of the Outstanding Amount, interest owing and any other costs or fees payable by the Borrower.

7. General Matters

(a) Waiver: the exercise of any right or power under this deed may be exercised at the discretion of the party to which the benefit of that right or power accrues. The failure to exercise or delay in exercising any right or nemedy shall not prevent its exercise. Nor shall a partial exercise of any right or power prevent a further exercise of that right or power.

(b) Amendments: No amendment to this document shall be valid unless in writing and validly executed by the parties.

(c) No Assignment: This Agreement shall be binding upon the parties' respective successors and lawful assigns, provided that a party may only assign its rights or obligations under this agreemnt with the written consent of the other party.

(d) Severability: If any provision of this deed is declared illegal or otherwise invalid or unenforceable, that provision shall be severed to the extent of that illegality, invalidity or unenforceability, without affecting the remaining provisions of this deed.

(e) Counterparts: This contract may be signed by the parties in any number of counterparts, each of which when executed and delivered shall be taken to be a duplicate original and all counteparts together shall be taken as constituting a single original document.

(f) No Agency: Nothing in this Agreement shall be read as constituting or creating any partnership, joint venture or similar relationship between the parties.

8. Governing Law and Jurisdiction

This Agreement will be governed by and construed in accordance with the laws of the State of New South Wales.

Executed as an agreement on the following date:

23rd August 2019