136 
A Study of Student Loans and 
Original Size, 854 x 14, Cap Folio 
Form 4. 
(ÜJjis Agmmpttt, made this day of 
A. D. 19 by and between HARMON FOUNDATION, Inc., a membership Corporation 
duly organized and existing under and by virtue of the Iaws of the State of New York, party of 
the first part, and hereinafter 
designated as the party of the second part; 
3Far Halu# SUrftOfft, the party of the second part hereby agrees to pay to the party of the 
first part in lawful money of the United States the following items: 
1 - Dollars ($ ), 
being the principal sum.advanced by the party of the first part. 
2. Interest on the above principal sum or on any unpaid balances thereon at the rate of six 
per cent. (6%) per annum from the date of the loan. 
3. A guarantee fund of Dollars ($ ), 
which is ten per cent. (10%) of the principal sum and which is explained more fully in section 
First following. 
And the party of the second part further agrees to the conditions and terms of payment of 
prindpal, interest, and guarantee fund as follows, to wit: 
1. The sum of not less than Five Dollars ($5.00) on the first day of each and every month 
accounting from the first day of December which sum shall be applied 
against such interest as may have accrued. 
2. The sum of not less than Ten Dollars ($10.00) on the first day of each and every month 
accounting from the first day of July which' sum shall be applied against 
the remaining interest, if any, which may have accrued prior to the first day of June ; 
after which time the Ten Dollar installments shall be applied against principal, interest and guar 
antee fund until all such items have been paid in full. 
Anö U 18 füutualllj AgrfPÖ by and between the parties hereto as follows: 
FIRST. That in consideration of the fact that the party of the first part shall not proceed against the estate of the party 
of the second part in case of default due to death of the party of the second part, and for the protection of the principal of the 
Student Loan Funds administered by the Hormon Foundation, lnc., against voluntary or involuntary defaults, this agrce- 
ment is for ten per cent. (10%) in excess of the actual amount of money borrowcd. It is understood and agrecd that four-fifths 
of said ten per cent. (10%) can be used only for the purpose of making up defaults in the repaymcnts from. other students 
in during the College year 
and one-fifth can be used in making up defaults in the repaymcnt of loans made to students in other Colleges afliliated with the 
Hormon Foundation, Inc., during the said College year, which are not covcred by the guarantee required from the College 
groups in which the losses occur, and that if and when the funds actually loancd during said College year shall be. rcpaid 
with six per ccnt. (6%) interest thereon, all excess money receivcd by said party of the first part, after deducting all 
losses due to defaults oi any of said borrowcrs in said College year, including any legal costs connected therewith, shall be 
distributed among the borrowcrs of said funds during said College year in proportion to their respective interests in said 
excess as determined by the Harmon Foundation, Inc., together with interest at the rate of six per cent. (6%) per annum on 
said excess from date of final payment. 
SBCOND. That if the party of the second part leaves school before graduating, monthly payments of Ten Dollars 
($10.00) each shall begin three months after date of leaving school, which payments shall be applied against the reduction of 
interest, principal, and guarantee fund. 
TH1RD. That all sums of money payable to said party of the first part hercunder shall, unless otherwise provided, be 
paid at the Office of the Hormon Foundation, Inc., in New York, N. Y. 
FOURTH. That prompt performancc and time are of the nature and essence of this agreement and each of its condi 
tions, and, therefore, if default be made in any one of said monthly installments for a period of thirty (30) days after it 
becomes due, the balance of the principal sum then remaining unpaid together with interest as set forth herein above shall 
immcdiatcly become due and payable. It is understood and agrecd, however, that in case of illncss or loss of employment due 
to unavoidablc causes the time of payment of said installment may be extended by application made in writing to the 
Harmon Foundation, Inc., at least ten (10) days prior to date upon which such installment becomes payable, and provided 
that the written consent of the Harmon Foundation, Inc., has been obtained. In the event that it shall bccome neccssary 
to employ legal aid to collect said principal sum or interest or any part thercof, any Charge for samc shall become and remain 
an Obligation against the party of the second part until Iiquidated. 
FIFTH. That the mailing of a written notice by depositing it in any post-office Station or letter-box, enclosed in a 
postpaid cnvelope, addressed to the party of the second part at the last address actually furnished in writing to the said 
party of the first part, shall be sufficient notice in any case under this Agreement. 
That no modification of this Agreement, nor waiver of any term or condition hereof shall be of any force or effect, 
unless the same is in writing, signed by both of the parties hereto, and all contracts and agreements hcretofore made with 
respect to this transaction by the parties hereto, or their agents, are merged into and superseded by .this Agreement; and th'at 
no waiver of the breach of any such term or condition shall bc construcd as a waiver of any other or subsequent brcach of the 
same or any other term or condition. 
SIXTH. That if the party of the second part receives a communication from the party of the first part calling for 
a reply, he shall respond within six days after the receipt of said lettcr. 
SBVENTH. That the rules of the party of the first part for the administration of loan funds, hcretofore gubmitted and 
read and approved by the party of the second part, are made part of this contract as if fully set forth herein. 
3Jn $Uitn?ßa JSIfprpnf, HARMON FOUNDATION, Inc., has caused these presents to be 
signed in its corporate name by its .... 
and the party of the second part has hereunto set hand the day and year first 
above written. 
HARMON FOUNDATION, INC. 
(President, Vice President, Treasurcr) 
Party of the first pari 
(Witness as to Borrowcr) 
Party of the second part 
Endorser 
(Endorsement of adult required only if borrowcr u a tninor)