First Time Hard Money Lender: Contract Advice

[Oliver Noll]

I am considering lending money for the first time. I would not consider this if I did not feel comfortable with the individual. He is a flipper in Prince George's County MD. We have many mutual friends and I have known him for several years. He has successfully flipped approx 10 houses and has more than 10 years of construction experience. He has two employees. I have called several mutual friends and his references. The last thing that I want to do before moving forward is make sure that I am legally covered. Any advise would be greatly appreciated. I will not replace legal counsel with this advice, nor do I hold anyone who comments to their opinions. Thanks in advance. 

*I've already noticed the spelling error in the second to last paragraph ;)