Picture of Plain Language Promissory Note | USA Picture of Plain Language Promissory Note | USA

Plain Language Promissory Note | USA

USA lenders, secure repayment of a loan with this Plain Language Promissory Note.

  • The Promissory Note form is drafted in language that is clear, concise, and easy for a borrower to understand.
  • The principal and interest are to be repaid by a series of equal monthly installment payments.
  • Any amount of principal and/or interest not paid on time bears late charges calculated as a percentage of the overdue payment amount.
  • The template is not State-specific and can used anywhere in the United States.
  • This is a downloadable and customizable legal form template in MS Word format.
Document Type: Microsoft Word
Last Updated: 07-September-2022
SKU: 7388
$11.99
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Before you lend someone money, even if it's someone you know really well, you should have them sign a promissory note - like this downloadable Demand Promissory Note form.

  • This is a simple form of Note that can be used throughout the United States.
  • The note is payable on demand.
  • The debt can be prepaid at any time without any prepayment penalty being charged.
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A Promissory Note is exactly what it sounds like - a promise to pay - and it's enforceable in court. Download the form right after you purchase it.

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Get this USA Demand Promissory Note signed by a borrower to whom you are making an interest-free loan.

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USA Pledge of Security Collateral to Promissory Note

USA lenders who require additional collateral security can have their customers sign this Pledge of Security form as part of the loan documentation package.

  • The borrower agrees to pledge personal property for the lender to hold as collateral security to ensure repayment of a loan under a promissory note.
  • If the borrower defaults in payment, the lender has all the rights and remedies of a secured party under the Uniform Commercial Code, and has the right to sell, lease or dispose of the property as it sees fit.
  • Once you have purchased the form, you can customize it for your business and use it over and over. There are no additional licensing or restocking fees.

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This Promissory Note form is for loans that are backed by a mortgage against the borrower's real property.

  • You can use the template in any U.S. state.
  • There is no prepayment penalty or premium if the borrower prepays the loan in whole or in part.
  • If the borrower defaults under the note or the mortgage, the borrower promises to pay interest at the highest rate allowed by law.
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