For Value Received, [Borrower name], the ‘Borrower’, hereby swears to pay [Lender name], the ‘Lender’ the sum of $[amount] (‘Principal’) with interest accumulated in accordance with the interest and payment schedules herein.
Interest on the due segment of the Principal shall grow at the rate of [interest rate] % per annum from the date of this note.
The Principal and interest shall be paid to the Lender in legalized money of the United States [payment plan].
Upon non-payment by Borrower on any scheduled payment of principal or interest, the whole Principal amount and all added interest shall, at the choice of the Lender, become payable immediately.
The Borrower may at any time and with no consent or fine, prepay this Note in full or in part, provided that Borrower accepts that such payment will be applied to the installments mentioned above in reverse maturity order.
The Borrower agrees to pay any and all collection costs that include realistic attorney’s fees, in case such action is required to gratify or leave whole or a part of this Note.
For [Borrower name]:
________________________________________ Date: _______________
Name: __________________________________ Title: _______________