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DO NOT DESTROY THIS NOTE: When paid, this note and the Deed of Trust must be surrendered to the Trustee with request for reconveyance. INSTALLMENT NOTE (INTEREST INCLUDED / WITH A “DUEONSALE CLAUSE)$

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How to fill out installment note with interest

01

Step 1: Start by including the date at the top of the installment note.

02

Step 2: State the names and addresses of the parties involved - the borrower and the lender.

03

Step 3: Provide details about the principal amount of the loan and the interest rate agreed upon.

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Step 4: Specify the repayment terms, such as the number of installments, frequency, and due dates.

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Step 5: Include any additional terms and conditions, such as late payment penalties or prepayment options.

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Step 6: Sign the installment note and ensure both parties have a copy for their records.

Who needs installment note with interest?

01

Anyone who wants to lend money to someone else and expects to be paid back in installments with interest may need an installment note.

02

Small businesses providing financing options to customers, individuals giving personal loans, or financial institutions are examples of those who may use installment notes with interest.

03

It serves as a legal documentation of the loan agreement and protects the rights of both parties involved.

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