Loan Amount
The loan amount is 35.00 BTC (thirty-five Bitcoins and zero "Satoshis"), with an interest rate of 15.0% APR (fifteen percent annually).
Verification
The debtor agrees to provide scans of a government issued ID via email.
Payment Address
15UofD4XkznG2WLCXLBpvB6sC4Bi6uusrZ
Repayment Address
1FLE1sJRVdnZ2FweicXdq2ZNqP8fPvNfpD
Scheduled Dates
Scheduled dates are set as every 30 days after the loan amount has been sent, 12 times per year.
Payments
For the duration of the loan, debtor is obligated to make a monthly payment within 48 hours of each scheduled date of 3.35416 BTC to the specified repayment address of the creditor. This is applied as 12x monthly payments of 3.35416 for a duration not exceeding one year. Upon the final payment (or in the event of early repayment) debtor's obligation shall be considered fulfilled and this contract shall be terminated.
Early Repayment
In the event of early repayment (to terminate the loan in full) borrower shall pay an amount of the total remaining unpaid debt liability multiplied by 1.02.
Calculated as [T * 1.02], where T equals total unpaid debt liability.
Late Payments
Payments must be made within 48 hours of each scheduled date. If debtor fails to make payment within 48 hours of a monthly scheduled date the interest rate shall be temporarily increased 30.0% APR (thirty percent annual percent rate) until the delinquent payment is satisfied. Once the monthly payment is completed the interest rate shall immediately return to the original interest rate of 15% APR (fifteen percent annually).
This shall be applied as adding 0.01458 BTC to the repayment amount for each day of delinquency until the payment is satisfied.
BTCINVEST
Funds will be provided by BTCINVEST. TradeFortress agrees to provide an advance of the interest of this loan as per normal dividend schedules. TradeFortress agrees to cover the principal of this loan if the borrower defaults, keeping the NAV of each bond at 0.1 BTC.
Change of Terms or Refinance
The terms of this loan contract may be changed at any time only if both parties (creditor and debtor) agree to all changes, in writing.
