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## Sample Promissory Note, Fixed Term, No Interest, Principal Payable In Equal Payments Until Maturity, Acceleration Of Payment In The Event Of Default In Payment Letter

by emily on March 10, 2012

**Promissory Note, Fixed Term, No Interest, Principal Payable In Equal Payments Until Maturity, Acceleration Of Payment In The Event Of Default In Payment**

PROMISSORY NOTE –

[Loan Amount] Due: [Loan Maturity Date]

FOR VALUE RECEIVED, the undersigned, [borrower name], the ‘Borrower’, hereby acknowledges itself obliged to [Lender’s name], the ‘Lender’ and swears to pay to the Lender, the principal sum of $[loan amount] in legal money of [USA currency]. The complete principal sum shall be paid in [no. of payments] equal successive [payment basis – monthly/quarterly] payments of principal only in the amount of $ [periodic payments amount], beginning on [starting date of payments] to and, including [loan maturity date].

In the event of non-payment, any principal amount or interest mentioned in this promissory note, the whole left principal sum and all interest accumulated shall, at the choice of the Lender, become immediately owing, and payable without a notice.

The Lender may allocate all of its right, title and interest in, to and mentioned in this promissory note. All payments are required to be made by the Borrower with no any right of set-off or counterclaim.

Dated: [date here]

………………………………………….. ………………………………………….

Witness Seller Name

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## Sample Promissory Note, Fixed Term, Variable Rate of Interest Letter

by emily on March 10, 2012

**Promissory Note, Fixed Term, Variable Rate of Interest, Interest Only Until Maturity, Acceleration of Payment In The Event Of Default in Payment**

PROMISSORY NOTE –

[Loan Amount] Due: [Loan Maturity Date]

FOR VALUE RECEIVED, the undersigned, [Borrower name], the ‘Borrower’ hereby acknowledges itself grateful to [Lender name], the ‘Lender’, and swears to pay to the Lender the principal sum of [loan amount] in official money of [USA currency] with interest thereon at a changeable rate per annum equivalent to the interest rate commonly known as the ‘prime rate’ of interest declared from time to time by [Bank Name of Lender] as a reference rate then in effect for concluding interest rates on commercial loans plus [Amount above prime rate], calculated and due monthly, not in advance, on the 1st day of each and every month, and both before and after demand, maturity, non-payment and evaluation until paid.

This is to for that:

The principal sum and interest shall be outstanding and payable as follows:

1. Interest shall be paid on monthly basis on the last business day of each month; and

2. The total principal amount and all interest accumulated shall be paid on [Loan Maturity Date].

In the event of non-payment of principal or, interest mentioned in this promissory note, the whole remaining principal amount, and all interest accrued shall, at the decision of the Lender, becomes due immediately and payable without a notice.

The Lender may allot all of its right, title and interest in, to and under this promissory note. All required payments shall be made by the Borrower with no right of set-off or counterclaim.

Dated: [date]

………………………………………….. ………………………………………….

Witness Seller Name

**Download Sample Promissory Note, Fixed Term, Variable Rate of Interest Letter In Word Format**

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## Sample Promissory Note Letter

by emily on March 10, 2012

**Promissory Note, Fixed Term, Fixed Rate of Interest, Interest Only Until Maturity, Acceleration of Payment In The Event Of Default in Payment**

PROMISSORY NOTE –

[Loan Amount] Due: [Loan Maturity Date]

FOR VALUE RECEIVED, the undersigned, [Borrower name], the ‘Borrower’, hereby acknowledges itself thankful to [Lender name], the ‘Lender’ and agrees to pay to the Lender the principal sum of [loan amount] in legal money of [USA currency] with interest thereon at the rate of [interest rate] per annum, computed and owed monthly, not in advance, on the 1st day of each and every month, beginning [first date of loan payment] and, both before and after demand, maturity, failure to pay and judgment until paid.

The principal figure and interest shall be outstanding and payable as follows:

1. Interest shall be paid on monthly basis, on the last business day of each month; and

2. The complete principal amount and all interest accumulated shall be paid on [Loan Maturity Date].

In the event of failure to pay the principal or interest under this promissory note, the whole left over principal amount and all interest accrued shall, at the decision of the Lender, immediately becomes outstanding and payable without demand.

The Lender may allocate all of its right, title and interest in, to and in this promissory note. All required payments shall be made by the Borrower with no right of set out or counterclaim

Dated: [date]

………………………………………….. ………………………………………….

Witness Seller Name

**Download Sample Promissory Note Letter In Word Format**

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