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CITY OF SAN LEANDRO <br />SMALL BUSINESS LOAN FUND <br />LOAN AGREEMENT <br />THIS AGREEMENT, dated February 2,12n is entered into by and between the CITY OF <br />SAN LEANDRO, a municipal corporation hereinafter designated the LENDER, and Ronald lohnson . <br />hereinafter designated the BORROWER, pursuant to the SMALL BUSINESS LOAN FUND of the CITY <br />OF SAN LEANDRO. <br />To induce LENDER to make the LOAN, BORROWER shall also enter into the following <br />instruments or agreements on an even date herewith (collectively known as the LOAN <br />DOCUMENTS): <br />PROMISSORY NOTE ExhibitA <br />PERSONAL SECURITY AGREEMENT Exhibit B <br />SECURITY AGREEMENT Exhibit C <br />CDBG EMPLOYMENT AGREEMENT Exhibit D <br />REGULATORY AGREEMENT Exhibit E <br />WHEREAS, BORROWER wishes to borrow from LENDER the principal sum of Twenty Two <br />Thousand Dollars Dollars ($22,0001, and LENDER is willing to lend such sum to BORROWER on the <br />terms and conditions herein contained. <br />WHEREAS, the LENDER is willing to make such a loan to the BORROWER on the terms and <br />conditions hereinafter set forth. <br />NOW, THEREFORE, in consideration of the mutual covenants and agreements contained <br />herein, the parties hereto agree as follows: <br />ARTICLE 1: THE LOAN <br />SECTION 1.01 LOAN Subject to the terms and conditions of this AGREEMENT and <br />execution of loan documents, LENDER hereby agrees to loan to BORROWER, and BORROWER <br />hereby agrees to borrow from LENDER and repay LENDER, the amount of _Twenw Two Thousand <br />Dollars ($22,000), which shall bear interest at the rate of five percent (5%) per annum on unpaid <br />principal and interest, until the principal and interest are paid in full, hereinafter designated as the <br />LOAN. <br />SECTION 1.02 PROMISSORY NOTE The LOAN shall be evidenced by BORROWER's <br />PROMISSORY NOTE dated concurrently with this Agreement substantially in the form of Exhibit A <br />incorporated herein by this reference. The PROMISSORY NOTE shall, at the latest, mature on the <br />seventh anniversary date following the date hereof, and any remaining balance owed LENDER shall <br />be due and payable. <br />SECTION 1.03 PREPAYMENT BORROWER may, without penalty or premium, prepay <br />principal on LOAN as provided for in the PROMISSORY NOTE. <br />Loan Agreement Page 1 of 11 <br />