Here are the usual types of loans that can be renewed through the use of this agreement: a loan renewal contract allows the expiry date to be extended on an updated note. The agreement amends the current loan with all other terms agreed by the lender and borrower. This is particularly common when the borrower has fallen behind in payments to restructure the payment plan. IN WITNESS WHEREOF, the parties executed and approved this agreement on the aforementioned date. CONSIDERING that the main balance of communication, just prior to this extension agreement, is $44,000; and three. Under the capital reduction outlined above, lenders and borrowers agree that the remaining principal balance of the bill is $26,489. In addition, quarterly interest payments at the rate indicated in the communication are made on September 23, 2014 and December 27, 2014, with all other accrued and unpaid interest to be paid in full on the extended maturity date. NOW, THEREFORE, in consideration (the “payment”) of the amount of $17,5111 to be credited with the note as described in paragraph 3 below, lenders and borrowers are following: WHEREAS, Lender and Borrower have closed a debt issued on June 28, 2013 at the original principal amount of $48,000, “Note.” The note was originally due on July 23, 2014. CONSIDERING that lenders and borrowers intend to enter into this extension agreement in order to extend the deadline for disclosure until January 27, 2015;