Wednesday, 07 April 2010 23:08

Balloon Note

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FOR VALUE RECEIVED, the undersigned promise to pay to the order of

_______________________ the sum of _______________________________ Dollars ($ ), plus interest at a rate of ______% per annum on any unpaid balance.

This note shall be paid in _____ consecutive and equal installments of $______ each. The first payment shall be due on the ______ day of ______________, 20__. Subsequent payments shall be due on the same day of each (month) thereafter, provided the entire principal balance and any accrued but unpaid interest shall be fully paid on or before the ____ day of ____________, 20__.

This note may (not) be prepaid without penalty. All payments shall be first applied to interest and the balance to principal.

This note shall be due and payable upon demand of any holder hereof in the event that the undersigned defaults in any payment beyond _____ days of its due date. All parties to this note waive presentment, demand and protest, and all notices thereto. In the event of default, the undersigned agree to pay all costs of collection and reasonable attorney's fees. The undersigned shall be jointly and severally liable under this note.

Signed this _____ day of ______________, 20____.

 

______________________________

Maker

______________________________

Maker

______________________________

Witness

 

______________________________

Witness

 

 

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