Education Loan Agreement Charles Sweeting(herinafter called The Borrower). The Bahamas Law Enforcement Co-Operative Credit Union Limited (hereinafter called The Credit Union). Loan Amount (Principle) $10,000.00 Cost Of Loan (Interest) $2,000.00 Amount Of Note $12,450.00 Loan Rate/ Annum 6% Installment Amount $250.00 Loan Period Jan 1, 2024 to Jan 1, 2028 12 payments of 250.00 with final payment of 45.00 Loan Terms This loan agreement Is between The Borrower And The Credit Union. For The value received, the borrower promises To pay the credit union the Principle And the Interest As stated above. 1. The whole balance of the amount loaned including interest due at the rate indicated above shall become due And payable for any of the following reasons i. The borrower does Not pay an installment On the due Date (unless excused by the Management Committee Of the Credit Union). ii. The borrower becomes bankrupt. iii. The borrower leaves the Commonwealth Of the Bahamas without giving at least six(6) months notice. iv. The borrower looses membership In the Credit Union. 2. The borrower also promises to pay all fines imposed in accordance with the rules of the Credit Union for failure to comply with the terms of this loan together with all costs, or expenses incurred In collection Of any sum due whether through the Credit Union Or a collections agency. 3. The borrower also agrees that the Credit Union shall claim on the borrower’s Shares-or other deposit offered as security for this loan once the loan becomes 90 days delinquent.