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PROMISSORY NOTE
(SHORT FORM)
The undersigned,
(debtor or first party), of
(first party's address) hereby agrees to pay the sum of
$
to
(creditor or second party) of
(second party’s address), plus interest from the
day of
,
, at the rate of
% per annum in consideration of:
(here state the reason such as money loaned, etc.).
Repayment shall be made according to the following schedule:
(date) - $
(amount of payment)
(date) - $ (amount of payment)
(date) - $ (amount of payment)
(date) - $ (amount of payment)
Interest due at the time of payment shall be deducted first; then the remainder
of the payment shall be applied to principal. Upon failure to pay when
due,
(first party) shall be immediately obligated to pay the full amount of principal, all interest plus costs and attorney fees, if any, incurred
for recovery by
(second party).
This Note is subject to the laws of the State of
.
Dated this
day of
,
,
(location where note is signed).
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| Witness Signature |
Signature of Debtor/First Party |
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Address of Debtor/First Party |
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