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SIMPLE INTEREST ONLY PROMISSORY NOTE On or before Maker promises to pay to the order of Holder the principal sum of Dollars with simple interest at the rate of percent per year. Payments of interest only or more shall be paid by Maker to Holder on the first day of each month beginning on the first day of until the unpaid principal balance and all accrued interest with this Note is paid in full* The unpaid principal and all accrued interest shall be paid on or before. Should any action be...
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How to fill out simple promissory note form

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01
A borrower who wants to document a loan agreement and establish a legally binding obligation to repay the borrowed amount.
02
A lender who wants written evidence of the loan terms and conditions, ensuring the borrower's commitment to repay the debt.
03
People involved in personal loans, business transactions, or any situation where money is being borrowed and repayment is expected.

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A simple promissory note sample is not required to be filed with any government agency. Generally, promissory notes are private documents between the lender and the borrower. In some cases, the promissory note may need to be filed with a court or other government agency if it is used to secure a loan or other transaction.
A simple promissory note sample is a written document outlining a borrower's agreement to repay a designated amount of money to a lender within a specified time frame, usually with interest. Here is an example of a simple promissory note: [Your Name] [Your Address] [City, State, Zip Code] [Date] [Recipient's Name] [Recipient's Address] [City, State, Zip Code] Promissory Note Principal Amount: [Loan Amount] Interest Rate: [Interest Rate] Date of Loan: [Loan Date] Due Date: [Repayment Date] I, [Your Name], borrowed the sum of [Loan Amount] from [Recipient's Name] on [Loan Date]. I solemnly promise to repay the loan in full, including any accrued interest, according to the following terms: 1. The principal amount of [Loan Amount] shall be repaid in one lump sum on or before [Repayment Date]. 2. An interest rate of [Interest Rate] per annum shall be applied to any outstanding balance of the loan until the full amount is repaid. 3. If I fail to pay any installment or the full amount by the due date, I understand that [Recipient's Name] has the right to demand immediate payment of the entire outstanding balance. 4. I agree to pay all costs and expenses incurred by [Recipient's Name] in collecting any outstanding amount, including but not limited to reasonable attorney fees. [Your Name]: ____________________ [Borrower's Signature] [Recipient's Name]: _______________ [Lender's Signature] [Witness's Name]: ________________ [Witness's Signature]
To fill out a simple promissory note sample, follow the steps below: 1. Begin by entering the date at the top of the document, on the left-hand side. 2. Next, write the full legal name and address of the borrower (the person receiving the loan) on the left-hand side of the document, below the date. Include their full name, street address, city, state, and zip code. 3. On the right-hand side of the document, write the full legal name and address of the lender (the person giving the loan). Include their full name, street address, city, state, and zip code. 4. Underneath the borrower's information, create a section titled "Principal Amount." In this section, write the total amount of money that is being loaned to the borrower, both in words and in numbers. For example, "Five thousand dollars ($5,000.00)." 5. Below the principal amount section, create another section titled "Interest Rate." Indicate the interest rate that will be charged on the loan. Write the rate as a percentage and indicate whether it is fixed or variable. 6. Create a section titled "Term" below the interest rate section. Indicate the number of months or years that the borrower will have to repay the loan. 7. Below the term section, create a section titled "Payment Schedule." In this section, outline the agreed-upon payment schedule. Include the due date of each payment and the amount that needs to be paid on that date. 8. Include a section for "Late Payment Penalties" if applicable. State the additional charges or penalties that may be incurred in case of late or missed payments. 9. At the end of the document, create a section for both parties to sign and date. Have the borrower and lender sign their legal names on the lines provided. Additionally, include a space for a witness signature if desired. 10. Once the document is completed, make a copy for both the borrower and lender.
The purpose of a simple promissory note sample is to provide a template or example of a legally binding document that outlines the terms and conditions of a loan or debt agreement between two parties. It serves as a written promise by the borrower to repay a specific amount of money to the lender within a specified time period, along with any agreed-upon interest or other terms. The sample helps individuals or businesses draft their own promissory note by providing a framework and guiding them on what information should be included.
The information that must be reported on a simple promissory note sample includes: 1. Date: The date when the promissory note is entered into. 2. Parties: The names and addresses of both the borrower (promisor) and the lender (promisee). 3. Principal Amount: The amount of money borrowed by the borrower from the lender. 4. Interest Rate: The interest rate charged on the principal amount, if applicable. 5. Term: The duration or the date by which the borrower is required to repay the borrowed amount. 6. Repayment Schedule: The agreed-upon schedule for the repayment of the principal and any interest accrued. 7. Late Payment: Any penalties or fees for late payment, if applicable. 8. Security: Any collateral or security provided by the borrower to secure the loan, if applicable. 9. Governing Law: The state or jurisdiction whose laws will govern the promissory note. 10. Signatures: The signatures of both the borrower and lender, along with their printed names and dates. It is important to note that the specific information required on a promissory note may vary depending on local laws and the specific terms agreed upon between the parties involved. In case of doubt, it is advisable to consult with a legal professional to ensure the proper completion of the promissory note.
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