FORM OF ESOP LOAN AGREEMENTEsop Loan Agreement • June 12th, 2013 • Delanco Bancorp, Inc. • New Jersey
THIS LOAN AGREEMENT (“Loan Agreement”) is made and entered into as of the [#] day of [month, year], by and between the DELANCO FEDERAL SAVINGS BANK EMPLOYEE STOCK OWNERSHIP PLAN TRUST (“Borrower”), a trust forming part of the Delanco Federal Savings Bank Employee Stock Ownership Plan (“ESOP”); and DELANCO BANCORP, INC. (“Lender”), a corporation organized and existing under the laws of New Jersey.
