Borrowers offer lender security in the form of property ABC. The item is currently valued at $XXX,XXX AUD. The item will remain in the possession of Mxxxx Zxxxx until the debt is paid in
Lender agrees there will be no additional payments in the form of interest.
If borrower fails to make payments as agreed, lender has the option of demanding payment in full of all outstanding monies. Borrowers understand that lender may utilise any legal options
available to collect the outstanding funds. This includes the sale or disposal of the security pledged.