Fillable Unsecured Promissory Note printable pdf download

Unsecured Promissory Note

Amount Borrowed $_____________________________ Date: _____________________________

FOR VALUE RECEIVED, _____________________________ (hereafter, “Maker”), an individual [or type of

business entity], promises to pay _____________________________, an individual [or type of business entity]

(hereafter, "Holder"), at street address of _________________________, city of _____________________________

state of _____________________________ with a zip code of _____________________________, or at such other

place as Holder hereof may from time to time designate in writing, the principal sum of _________________ Dollars

($_______), with interest accruing on the unpaid principal at the rate of ____ percent (___%) per annum from

____________________, 20____ until paid. The aforementioned principal sum represents monies owed to

__________________ for ________________________________________________.

Principal and interest are payable in monthly installments due on or before the ______ (___) day of each month until

paid in full, with the first such payment to be made on or before ____________________, 20____ In no event shall

interest exceed the maximum amount permitted by law. Any amount collected in excess of the maximum legal rate

shall be applied to reduce the principal balance.

This Promissory Note may, in whole or in part, be prepaid without penalty before the maturity date hereof.

Each payment shall first be credited against interest accrued and due at the time of receipt of payment, with the

remainder credited against unpaid principal. Interest shall cease to accrue on any principal so credited.

Should Maker default under or otherwise breach this Promissory Note and not cure said default or breach on or

before the _______ (_____) day after Holder gives Maker written notice thereof, by personal delivery or certified

mailing, all principal remaining unpaid and interest accruing thereon shall, at the option of Holder, become

immediately due and payable to Holder. Notice shall be deemed given on the date of personal delivery or date of

mailing, whichever is latest. No delay or failure in giving notice of said default or breach shall constitute a waiver of

the right of Holder to exercise said right in the event of a subsequent or continuing default or breach. Furthermore, in

the event of such default or breach, Maker promises to pay Holder all collection and/or litigation costs incurred,

including reasonable attorney fees and court costs, whether judgment is rendered or not.

This Promissory Note has been entered into and shall be performed in _________________ County, in the State of

_________________ and shall be construed in accordance with the laws of the State of _________________ and any

applicable federal statutes or regulations of the United States. Any claims or disputes concerning this Note shall, at

the sole election of Holder, be adjudicated in _________________ County, in the State of _________________.

Executed in the presence of:

_______________________

WITNESS: ____________

_______________________

Lender: _______________

_______________________

Borrower: ____________

Unsecured Promissory Note