Get the free Impact Fee Promissory Note and Security Agreement - Washington ... - wcwcd

WHEN RECORDED RETURN TO: CCD 533 East Waterworks Dr. St. George, Utah 84770 Space Above This Line for Recorder s Use Serial No. Impact Fee Promissory Note and Security Agreement THIS AGREEMENT is

How to fill out impact fee promissory note

How to fill out an impact fee promissory note:

1. Begin by writing the title "Impact Fee Promissory Note" at the top of the document.
2. Include the date on which the promissory note is being filled out.
3. Provide the names and contact information of both the borrower and the lender. Include full names, addresses, and phone numbers.
4. Specify the amount of money being borrowed in the promissory note. This is the impact fee that the borrower owes to the lender.
5. Clearly state the terms of repayment. Include the due date of the payment, the frequency of payments (monthly, quarterly, etc.), and any penalties or interest rates that apply if the borrower fails to make timely payments.
6. Indicate the method of payment, whether it is through cash, check, online transfer, or any other agreed-upon method.
7. Include any additional terms or conditions that both parties have agreed upon, such as late payment fees or payment plan options. Make sure to state these terms explicitly in the promissory note.
8. Both the borrower and the lender should sign and date the promissory note to indicate their agreement and understanding of the terms outlined in the document.

Who needs an impact fee promissory note?

1. Individuals or businesses who have been charged impact fees by a government authority or agency may need an impact fee promissory note.
2. Developers or builders who are required to pay impact fees for the construction or development of a new property may need an impact fee promissory note.
3. Municipalities or government agencies that collect impact fees from individuals or businesses may utilize impact fee promissory notes to formalize the repayment terms and ensure compliance.

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What is impact fee promissory note?

An impact fee promissory note is a legal document that outlines an agreement to pay impact fees over a period of time.

Who is required to file impact fee promissory note?

Developers or property owners who are subject to impact fees are required to file an impact fee promissory note.

How to fill out impact fee promissory note?

To fill out an impact fee promissory note, the developer or property owner must provide their contact information, details of the property, payment terms, and any other relevant information.

What is the purpose of impact fee promissory note?

The purpose of an impact fee promissory note is to ensure that impact fees are paid in a timely manner and to outline the terms of payment.

What information must be reported on impact fee promissory note?

The impact fee promissory note must include details of the property, the amount of impact fees owed, the payment schedule, and any other relevant information.