Borrower'S Promise To Pay Form printable pdf download

Borrower'S Promise To Pay Form

NOTE

_______________________ , ________

[Date]

[City]

[State]

[Property Address]

1. BORROWER’S PROMISE TO PAY

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 is _____

__________________________. I will make all payments under this Note in the form of cash,

check or money order. I understand that the Lender may transfer this Note. The Lender or

anyone who takes this Note by transfer and who is entitled to receive payments under this Note

is called the “Note Holder.”

2. INTEREST

Interest will be charged on unpaid principal until the full amount of Principal has been paid. I

will pay interest at a yearly rate of ________ %. The interest rate required by this Section 2 is

the rate I will pay both before and after any default described in Section 6(B) of this Note.

3. PAYMENTS

(a)

Time and Place of Payments

I will pay principal and interest by making a payment every month.

I will make my monthly payment on the ____________ day of each month

beginning on ______________________ , ______.

I will make these payments every month until I have paid all of the principal and

interest and any other charges described below that I may owe under this Note. Each

monthly payment will be applied as of its scheduled due date and will be applied to

interest before Principal.

If, on ______________________ , 20 ____ , I still owe amounts under this

Note, I will pay those amounts in full on that date, which is called the

“Maturity Date.”

I will make my monthly payments at _____________________________________

_____________________ or at a different place if required by the Note Holder.

Borrower'S Promise To Pay Form