Crisis Relief Loan Document
Vibrancy Fund: Loan Term Sheet
This agreement is effective between New Sun Rising (the LENDER), a 501(c)(3) charitable organization with a mailing address of PO Box 58005, Millvale, PA 15209 and (or future assignee)(the BORROWER) located at , , PA
The purpose of this agreement is to define terms of a loan between LENDER to BORROWER for purposes of operations, debt consolidation, and development of new products/services.
First payment due:
Loan Processing Fee & Fixed Interest Payment
Total Cost of Loan
Original Application with stated goals: CONTINGENCY
The BORROWER agrees to indemnify, hold harmless and defend The LENDER, its directors, supervisors,officers, and agents from any and all third party claims and/or liability, direct or indirect, resulting from orin connection with, the activities of The BORROWER.
The BORROWER agrees that it and any agents shall comply with all applicable federal, state, and local laws, regulations, and rules and, upon request, shall provide The LENDER with documentation of such compliance.
The LENDER issues this “Crisis Mitigation Relief Loan” to the BORROWER with an option to complete a “Vibrancy Corps Project” and receive full loan forgiveness. Eligibility for loan forgiveness is dependent upon BORROWER completing the project within 90 days and submitting a final report of “Vibrancy Corps Project” activity as outlined in their loan application. Failure to complete the project and submit a final report will result in Loan collection as per the terms of this agreement.
The LENDER has the full legal right to update the terms of this loan, including but not limited to terminating the agreement with BORROWER.The LENDER and BORROWER have executed this Agreement as of August 15, 2020
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Document Name: Crisis Relief Loan Document
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