SeaCoast Financial

Bail Bond Loan Agreement


 

State of South Carolina 

 

BAIL BOND LOAN AGREEMENT

This Loan Agreement (this “Agreement”), made as on  (the “Effective Date”), is by and among located at the address indicated below and whose confirmed cell phone number is  (the "Borrower"), and SeaCoast Financial, LLC, located at 103 Regency Commons Dr, Greer, SC 29650 (the “Lender”).

The parties do agree as follows:

  1. Loan Amount. The lender agrees to loan the Borrower the principal sum of $ (the “Loan”), together with interest on the outstanding principal amount of the Loan (the "Principal Balance"), and by the terms set forth below.
  2. Dispersal of Funds.  The Borrower acknowledges and agrees that all payments made pursuant to this Bail Bond Loan Agreement will be directly allocated to , intended solely to finance a Bail Bond issued by for the exclusive use of the Borrower. At no point will the loan funds be directly disbursed to the Borrower in any manner.
  3. Repayment of Loan. The Loan, with accrued and unpaid interest and all other charges, costs, and expenses, is due and payable on or before the effective date's eighteenth (18) month anniversary. All payments under this Agreement are applied first to accrued interest and then to the Principal Balance. The Loan shall be payable in installments equal to $ . The first payment is due thirty (30) days from the effective date first written above and due after that in eighteen (18) equal consecutive monthly installments. Each successive payment is due on the monthly anniversary of this Loan Agreement.  
  4. Interest. The Principal Balance shall bear interest at 18% APR annually, accruing daily. Notwithstanding, the total interest charged shall not exceed the maximum amount allowed by law, and the Borrower shall not be obligated to pay any interest over such amount. 
  5. Prepayment. The borrower has the right to prepay all or any part of the Loan, together with accrued and unpaid interest, at any time without a prepayment penalty or premium.
  6. Acceleration. If the  Borrower is more than forty-five (45) days late with a payment, the Lender may, in its sole discretion, demand that the Principal Balance and any accrued and unpaid interest be immediately due and payable in full.       
  7. Remedies. Lender may enforce its rights or remedies in equity or at law, whether for specific performance of any provision in this Agreement or to enforce the payment of the Loan or any other legal or equitable right or remedy. The rights and remedies of the Lender now or hereafter existing at law, in equity, by statute, or otherwise shall be cumulative and in addition to every other such right or remedy.
  8. Costs and Expenses. The borrower shall pay the Lender all collection costs, including reasonable attorney's fees, which the Lender incurs in enforcing this Agreement. 
  9. Waiver. The borrower and all sureties, guarantors, and endorsers waive presentment, protest, and demand a notice of protest, demand, dishonor, and nonpayment of this Agreement.
  10. Successors and Assigns. This Agreement will inure to the benefit of and be binding on the respective successors and permitted assigns of Lender and Borrower. 
  11. Amendment. This Agreement may be amended or modified only by a written agreement signed by Borrower and Lender. 
  12. Notices. Any notice or communication under this Loan must be in writing and sent via one of the following options: 
      • In Person
      • Electronic Email Transmission  
      • Certified or Registered Mail (Postage Prepaid, Return Receipt Requested)  
      • Overnight Courier Service
  1. No Waiver. The lender shall not be deemed to have waived any provision of this Agreement or the exercise of any rights held under this Agreement unless such waiver is made expressly and in writing. A waiver by the Lender of a breach or violation of any provision of this Agreement shall not constitute a waiver of any subsequent breach or violation.
  2. Severability. If any provision of this Agreement is held to be invalid or unenforceable in whole or in part, the remaining provisions shall not be affected. They shall remain valid and enforceable as they have not included invalid or unenforceable parts.
  3. Assignment. The borrower may not assign this Agreement, in whole or part, without the Lender's written consent. The lender may assign all or any portion of this Agreement with written notice to the Borrower.
  4. Governing Law. This Agreement shall be governed by and construed by the laws of the State of South Carolina, not including its conflicts of law provisions.
  5. Disputes. Any dispute arising from this Agreement shall be resolved through mediation. If mediation is not possible, binding arbitration conducted under the rules of the American Arbitration Association will be used. 
  6. Origination. This loan originated from , a Certified SeaCoast Financial Loan Retailer.
  7. Entire Agreement. This Agreement contains the parties' understanding and supersedes and cancels all prior oral or written agreements regarding such subject matter.
Rev. H2404V5F
IN WITNESS of which, the parties have executed this Agreement as of the date first stated.

SIGNATURES



 

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Signed by Craig Claxton
Signed On: July 1, 2024


Signature Certificate
Document name: Bail Bond Loan Agreement
lock iconUnique Document ID: 1e7ceb6bbcf707da89df06ecaa44ae7826dd8eee
Timestamp Audit
April 2, 2024 1:48 pm EDTBail Bond Loan Agreement Uploaded by Craig Claxton - craig@seacoastloans.com IP 172.59.69.198