promissory note sample for payment

this sample promissory note (also available in microsoft word, pdf and plain text downloadable files) spells out how and when you are to be paid, and what happens if the borrower doesn’t repay the loan. having a note won’t guarantee you’ll be repaid, but it does help clear up ambiguities and serves as evidence if you ever decide to take the borrower to court. all payments under this note shall be applied first to accrued but unpaid interest, and next to outstanding principal. the maker shall have the right at any time and from time to time to prepay this note in whole or in part without premium or penalty.

no delay or omission on part of the holder of this note in exercising any right hereunder shall operate as a waiver of any such right or of any other right of such holder, nor shall any delay, omission or waiver on any one occasion be deemed a bar to or waiver of the same or any other right on any future occasion. upon the occurrence of an event of acceleration under this note, and in addition to any other rights and remedies that payee may have, payee shall have the right, at its sole and exclusive option, to declare this note immediately due and payable. the maker’s obligations under this promissory note are subordinated to all indebtedness, if any, of maker, to any unrelated third party lender to the extent such indebtedness is outstanding on the date of this note and such subordination is required under the loan documents providing for such indebtedness. in the event any payment under this note is not paid when due, the maker agrees to pay, in addition to the principal and interest hereunder, reasonable attorneys’ fees not exceeding a sum equal to 15% of the then outstanding balance owing on the note, plus all other reasonable expenses incurred by payee in exercising any of its rights and remedies upon default. this note shall be governed by, and construed in accordance with, the laws of the state of ___________________ (state name).

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a promissory note is a promise to pay back money owed within a specific timeframe. the borrower receives the funds after the note no installment payments are required. b. ( ) principal and interest installments of. dollars ($ ). c. ( ) interest only payments on the outstanding for value received, the undersigned, (the “maker”), hereby promises to pay to the order of. (lender name) (“payee”), the principal sum of $, promissory note with payment schedule, promissory note with payment schedule, promissory note for payment, promissory letter, simple promissory note no interest.

in return for a loan that i have received, i promise to pay. u.s. $. (this amount is called. “principal”), plus interest, to the order of the lender. the lender a promissory note is a written, enforceable agreement ( promise ) between a borrower and a lender, with the a promissory note documents the borrower’s legally binding promise to repay a loan under, free promissory note template – word, promissory note template free, promissory note pdf, unsecured promissory note template.

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