LOAN AGREEMENT

Made at:.............................................

Dated:...............................................

This agreement is made between

Mr......................... ................ Age..............years; residing at No........., ......................... ...................................Road, Tambon.......................................................... District............................................, Province........................................., Telephone No........................,
hereinafter called the "Lender" and"

Mr.............. ...............................Age.........years; residing at No......., ............ ....................................... Road, Tambon ................................., District ....... ........................., Province .................................. ...., Telephone No. .........................., hereinafter called the "Borrower".

The parties to the agreement agree as follows:

1.    The Lender agrees to lend and the Borrower agrees to borrow from the Lender the sum of........................................baht (baht..........................................); the Borrower having received such amount of money at the time of this contract.

2.    The Borrower agrees to pay interest to the Lender at the rate of......percent per year; and in the future if the Lender wishes to increase the interest rate without exceeding the rate permitted by law, the Borrower shall not raise any objections; with the new rate in force immediately upon the Lender notification the Borrower of the new rate of interest.

3.    The Borrow agrees to pay the interest in................... (..............................) installment of ..........................baht (baht.....................................) each; each installment shall be paid on or before the ........... day of the calendar month, starting from the .......... day of ................ onwards. The Borrower agrees to pay the entire amount, comprising the capital and interest, according to this agreement the by or before the ............ day of ........................... 2010.

The schedule of performance in the preceding paragraph does not deprive the Lender of the right to demand immediate performance of the obligation of capital and interest, in part or wholly, without the Borrower’s consent; whereas the Borrower agrees to pay the Lender’s demand for performance of obligation according to this clause.

In case the Borrower is in default of interest payment for a period of one year, the Borrower agrees to compound the unpaid interest with the capital on the date of such one-year default of payment and the Borrower shall pay interest for the new amount of capital from the following date of that one-year period at the same rate specified in Clause 2., until complete payment is made.

4.    If the Borrower is in default of interest payments as specified in Clause 3., the Borrower agrees to allow the Lender to immediately demand payment of the entire capital with interest, although the entire obligation is not yet due.

5.    The Borrower agrees that in case of change of address from that specified in this agreement, the Borrower shall give prior written notification to the Lender of such change.

6.    If the Borrower is in breach of any section of this agreement, he agrees to be liable for compensation of damages incurred by the Lender due to such breach of agreement, including expense of warning and asking for payment, as well as costs, attorney’s fees and expenses incurred in proceedings for the performance of obligation according to this agreement.

7.    As a security for performance according to this agreement, the Borrower has deposited ...................... ........ ........................... ................................... ......... with the Lender as assurance until the Lender receives complete performance according to this agreement; the Borrower assures that the deposited security solely and legally belongs to the Borrower and is without any encumbrances; or the Borrower has arranged for Mr./Mrs./Miss................................................to enter into a suretyship contract for the loan in this agreement, as shown in detail in the Suretyship Contract.

8.    Both parties agree to take the case to the competent court in Bangkok Metropolis, in case of any dispute relevant to this agreement.

This agreement is made in duplicate. The parties to the agreement, each retaining one copy, have read and understood the entire substance of the agreement and hereunder sign their names in the presence of witnesses.

Signed...............................Lender
(                                    )
Signed.................................Borrower
(                                     )
Signed.................................Witness
(                                     )
Signed.................................Witness
(                                     )