Common use of Evidence of Loan Clause in Contracts

Evidence of Loan. The Loan and all payments thereon shall be evidenced by the Lender’s loan accounts and records; provided, however, that upon the request of the Lender, the Loan may be evidenced by a promissory note in the form of Exhibit B hereto in addition to such loan accounts and records. Such loan accounts, records and promissory note shall be conclusive absent demonstrable or manifest error of the amount of the Loan and payments thereon. Any failure to record the Loan or payments thereon or any error in doing so shall not limit or otherwise affect the obligation of the Borrower to pay any amount owing with respect to the Loan.

Evidence of Loan. The Loan and all payments thereon shall be evidenced by the Lender’s loan accounts and records; provided, however, that upon the request of the Lender, the Loan may be evidenced by a promissory note in the form of Exhibit B hereto (the “Note”), in addition to such loan accounts and records. Such loan accounts, records and promissory note Note shall be conclusive absent demonstrable or manifest error of the amount of the Loan and payments thereon. Any failure to record the Loan or payments payment thereon or any error in doing so shall not limit or otherwise affect the obligation of the Borrower to pay any amount owing with respect to the Loan.