Parties and Definitions

In this Agreement: (a) "the Lender" means each person named as a lender in the Schedule and, where there is more than one, all of them together — obligations owed to the Lender are owed to all of them, and payment to any one of them discharges the Borrower's obligation to all of them unless the Lender has told the Borrower otherwise in writing; (b) "the Borrower" means each person named as a borrower in the Schedule and, where there is more than one, all of them — their obligations are joint and several (each of them is responsible for the whole of what is owed, not just a share); (c) "Loan Amount" means $150,000.00 AUD in Australian dollars or, if less, the amount actually advanced; (d) the "Advance Date" is the day the Loan Amount (or its first instalment) is actually advanced; (e) "Repayment-in-Full Event" has the meaning given in the Repayment in Full clause, and "Separation Event" the meaning given in the Separation Event clause; and (f) other capitalised terms have the meanings given in the Schedule.

The Loan

The Lender agrees to lend the Borrower the Loan Amount for Contribution to the purchase of the Property. The Lender will advance it within 14 days after the date of this Agreement (or a later time the parties agree in writing), by payment to the account the Borrower nominates in writing or, where the loan funds a property purchase, to the trust account of the Borrower's conveyancer or solicitor for use at settlement. The amount owing under this Agreement is the amount actually advanced, up to the Loan Amount. If the advance was made for a purchase that does not proceed to settlement within 60 days after the Advance Date, the Borrower must return the advance immediately, and this Agreement ends when it is repaid in full. The Borrower must repay the amount advanced, together with any interest accrued under this Agreement, as a debt due and owing to the Lender on the terms of this Agreement.

Interest

No interest is payable on the Loan Amount.

Repayment

The Borrower must pay the Lender $500.00 AUD each calendar month. Payments start on 1 September 2026 (or, if the Loan Amount has not been advanced by then, on the same day of the month after the Advance Date) and continue on the same day of each month until the Loan Amount and all accrued interest are repaid in full. Each payment is applied first to accrued interest and then to the Loan Amount. The Borrower may repay all or part of the Loan Amount at any time without penalty. Payments go to the account the Lender nominates in the Schedule or in writing, and count as made when received in cleared funds.

Repayment in Full

Each of the following is a "Repayment-in-Full Event": (a) the death or bankruptcy of the Borrower or, if more than one, any of them, or the Borrower entering into a personal insolvency agreement or arrangement with creditors; (b) a Separation Event; (c) the Borrower denying in writing that the Loan Amount is owed, or repudiating this Agreement; (d) the tenth anniversary of the Advance Date; and (e) each additional event (if any) listed in the Schedule as a Repayment-in-Full Event. When a Repayment-in-Full Event happens, the outstanding Loan Amount and all accrued interest become repayable in full within 90 days after the Lender gives written notice. Where the Borrower has died, the notice period runs from when the Borrower's legal personal representative receives the notice, and the outstanding amount is a debt of the Borrower's estate. This 90-day period governs repayment after a Repayment-in-Full Event even where the Loan Amount is otherwise repayable on demand.

Default

Each of the following is an "Event of Default": (a) the Borrower fails to make a payment when due, and the failure continues for 30 days after the Lender gives written notice of it; (b) the Borrower materially breaches another obligation under this Agreement and, where the breach can be fixed, fails to fix it within 30 days after the Lender gives written notice of it; or (c) the Borrower denies that the Loan exists, or repudiates this Agreement or their obligations under it. When an Event of Default happens, the Lender may declare the outstanding Loan Amount and all accrued interest immediately due and payable by giving a further written notice. The Borrower must pay the Lender's reasonable costs, including reasonable legal costs, of recovering any overdue amount.

Separation Event

A "Separation Event" occurs if: (a) where there are two Borrowers who are married to, or in a de facto relationship with, each other — the Borrowers separate; or (b) the Borrower and the Borrower's spouse or de facto partner (whether or not that person is a party to this Agreement) separate. For this purpose, persons "separate" when they cease to live together as a couple on a genuine domestic basis, or when either of them communicates to the other that the marriage or relationship is at an end, whether or not they continue to live in the same residence. The parties acknowledge that the Loan Amount remains repayable in accordance with this Agreement notwithstanding any separation, property settlement or financial agreement between the Borrower and any other person, and that this Agreement does not confer rights on any person who is not a party to it.

Security

The Loan Amount is unsecured. Nothing in this Agreement creates a charge or other security interest over any property of the Borrower.

General

(a) This Agreement is the entire agreement between the parties about its subject matter, and can only be varied in writing signed by all parties. (b) If a provision of this Agreement is illegal or unenforceable, that provision is severed and the rest continues in force. (c) A failure or delay by the Lender in exercising a right under this Agreement — including any delay in demanding repayment or in acting on a default — is not a waiver of that right. (d) The Lender may, by signed written notice to the Borrower, waive a Repayment-in-Full Event or an Event of Default in respect of a particular occurrence; the waiver applies only to that occurrence and does not affect the Lender's rights on any later occurrence of the same or any other event. (e) The Lender may assign or transfer rights under this Agreement to the Lender's legal personal representatives or to a related party; any other assignment requires the Borrower's written consent. The Borrower may not assign their rights or obligations without the Lender's written consent. (f) The Loan Amount is not forgiven, released, waived or converted into a gift by the passage of time, by the relationship between the parties, by any failure or delay in demanding repayment, or by any statement or conduct of the parties, unless the Lender executes a written release expressly forgiving the relevant amount. (g) No party may describe the advance of the Loan Amount to any bank or other financier as a gift where that description would be inconsistent with this Agreement. (h) This Agreement is governed by the law of New South Wales, and the parties submit to the non-exclusive jurisdiction of its courts.

Notices

A notice or demand under this Agreement must be in writing and may be given by hand, by prepaid post to the party's address in the Schedule (or the address last notified in writing), or by email to the party's email address in the Schedule. A notice is taken to be received: if delivered by hand, on delivery; if posted, on the fifth business day after posting; if emailed, when sent, unless the sender receives an automated message that the email was not delivered.

Death of a Lender

If a Lender dies while more than one Lender survives, that Lender's rights under this Agreement pass to the surviving Lender or Lenders.

Independent Advice

Each party acknowledges that: (a) they have had a reasonable opportunity to obtain independent legal, financial and taxation advice about this Agreement before signing; and (b) they enter into this Agreement voluntarily and without pressure from any other party.

Acknowledgment of Debt

At the Lender's request — given directly, or as a standing instruction through the signing platform's annual confirmation process — and no more than once in any 12-month period, the Borrower must give the Lender a signed written acknowledgment stating: the date of the advance; the amount advanced; the repayments made; and the balance owing. Each acknowledgment is an acknowledgment of the debt for the purposes of the applicable limitation legislation.