A legally binding contract that outlines the terms and conditions of a loan agreement is known as a legal document for lending money. This document establishes the rights and responsibilities of the borrower and lender, including the amount of money being borrowed, the interest rate and repayment schedule, when the loan must be repaid or refinanced, fees charged to the borrowers, and any other special arrangements related to the loan. It also includes descriptions of any collateral used to secure the loan and , if applicable, any provisions for personal guarantees. By signing this document, both parties agree to abide by its contents and are held responsible should they violate the terms of the agreement.