Loan Agreement Template

LOAN AGREEMENT

New Zealand — Contract And Commercial Law Act 2017

This Loan Agreement (this "Agreement") is entered into as of 1 April 2026 between Robert A. McKenzie (the "Lender") and Sarah T. Blackwood (the "Borrower") under the laws of New Zealand, including the Contract and Commercial Law Act 2017 (CCLA 2017).

The Lender agrees to lend to the Borrower the sum of $50,000.00 NZD (the "Principal"), to be used for: home renovation and improvements to the Borrower's residential property. The Lender shall disburse the Principal to the Borrower on or after the date of execution of this Agreement. The Borrower shall not use the loan funds for any purpose other than the stated purpose without the prior written consent of the Lender. CCCFA application. This Agreement is a "credit contract" within the meaning of the Credit Contracts and Consumer Finance Act 2003 (CCCFA), and if the Lender is in the business of providing credit it will also be a "consumer credit contract" — triggering initial disclosure obligations (s 17 CCCFA), responsible lending obligations under the Responsible Lending Code 2015 (last amended 2024), and the reasonableness of fees test in Sportzone Motorcycles Ltd (in liq) v Commerce Commission [2016] NZSC 53. Where the Lender is NOT in the business of providing credit (e.g. a private loan between individuals), the CCCFA disclosure obligations generally do not apply, but the unjust contract provisions in Part 5 CCCFA and the unfair contract terms regime in Part 5 of the Fair Trading Act 1986 (B2C standard-form) still apply.

Interest shall accrue on the outstanding Principal balance at a fixed rate of 7.5% per annum, calculated daily and compounded monthly. Interest begins to accrue from the date of disbursement. The parties acknowledge that the CCCFA 2003 may regulate the manner in which interest and charges are disclosed and applied if this Agreement constitutes a consumer credit contract.

The Borrower shall repay the Principal together with accrued interest monthly, commencing on 1 May 2026, in instalments of $995.00 NZD. The loan term is 60 months. All repayments shall be applied first to accrued interest, then to the Principal balance. The Borrower may make additional repayments at any time without penalty. The full outstanding Principal and accrued interest are due and payable on the final repayment date.

The Borrower represents and warrants to the Lender that: (a) the Borrower has full legal capacity to enter into this Agreement; (b) the Borrower is not insolvent and is not subject to any bankruptcy or insolvency proceedings; (c) there are no existing agreements or court orders that would prevent the Borrower from repaying this loan; (d) all information provided by the Borrower to the Lender in connection with this loan is true and accurate in all material respects; and (e) the Borrower will notify the Lender promptly of any material change in circumstances that may affect the Borrower's ability to repay.

The Borrower may prepay all or part of the outstanding Principal at any time without penalty. Any prepayment shall be applied first to outstanding interest and fees, then to the Principal balance. Early repayment in full discharges the Borrower from all obligations under this Agreement.

The Borrower shall be in default if: (a) any repayment is not made within 14 days of the due date; (b) the Borrower becomes insolvent or bankrupt; (c) the Borrower provides materially false or misleading information; or (d) the Borrower breaches any material term of this Agreement and fails to remedy the breach within 14 days of written notice. Upon default, the Lender may: (i) declare the entire outstanding Principal and accrued interest immediately due and payable; (ii) charge default interest at the agreed rate plus 5% per annum from the date of default; and (iii) take all steps available under New Zealand law to recover the outstanding debt, including applying to the District Court or High Court. A late payment fee of $50.00 NZD shall also be payable for each missed repayment.

Resident Withholding Tax (RWT). Where the Lender is an individual or other non-financial entity, interest paid by the Borrower is generally not subject to RWT under the Income Tax Act 2007 if the Lender provides their IRD number and elects the appropriate rate. However, the Lender is responsible for declaring interest income on their own tax return; if the Lender is a financial institution or otherwise required to deduct RWT, deductions will be made at the prevailing statutory rate. Privacy and credit reporting. The Borrower consents to the Lender (i) collecting, using and storing personal information about the Borrower's identity, financial position and repayment behaviour in accordance with the Privacy Act 2020 and the Information Privacy Principles, and (ii) where reasonably necessary, reporting default information to a credit reporting agency under the Credit Reporting Privacy Code 2020. Governing law. This Agreement is governed by the laws of New Zealand, including the CCLA 2017, the CCCFA 2003 (where applicable), the Property Law Act 2007 (Parts 2 and 3 — particularly s 24 statutory interest reference and Part 3 mortgages), the Personal Property Securities Act 1999, and the Interest on Money Claims Act 2016 (where the parties have not otherwise agreed on interest). Any dispute is subject to the exclusive jurisdiction of the courts of Auckland, New Zealand. For claims of NZD 30,000 or less either party may apply to the Disputes Tribunal under the Disputes Tribunal Act 1988 for a binding determination.

Entire Agreement: This Agreement constitutes the entire agreement between the parties regarding this loan and supersedes all prior negotiations and understandings. Amendment: No amendment is valid unless in writing and signed by both parties. Severability: If any provision is unenforceable, the remaining provisions continue in full force. Waiver: A failure to enforce any right is not a waiver of that right. Electronic Execution: This Agreement may be signed electronically under the CCLA 2017, Part 4.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date indicated.