Promissory Note

(For Lease Options without full down payment)

$_____________ ____________________________ Dollars

FOR VALUE RECEIVED the undersigned jointly and severally promise(s) to pay to the order of *** Your Company**** the principal sum of __________________ Dollars ($______.00) together with interest thereon from date at the rate of Ten Percent (10%) percent per annum until maturity, said principal and interest being payable monthly on the tenth (10th) day of each and every month in lawful money of the United States beginning on the Tenth (10th) day of ___________________, 20____, in monthly installments of _____________________ Dollars ($______.00), and continuing thereafter until ___________________, 20____, or until said principal and interest have been paid in full, at **** Your company name and address****, or at such other place as the holder hereof may designate in writing from time to time.

Each maker and endorser severally waives demand, protest, and notice of maturity, non-payment, or protest and all requirements necessary to hold each of them liable as makers and endorsers and, should litigation be necessary to enforce this note, each maker and endorser waives trail by jury and consents to the personal jurisdiction and venue of a court of subject matter jurisdiction located in the State of ____________ and County of _______________________________.

Each maker and endorser further agrees, jointly and severally, to pay all costs of collection, including a reasonable attorney's fee in case the principal of this note or any payment on the principal or any interest thereon is not paid at the respective maturity thereof, or in case it becomes necessary to protect the security hereof, whether suit be brought or not.

This note is to be construed and enforced according to the law of the State of _______________; upon default in the payment of principal and/or interest when due, the whole sum of principal and interest remaining unpaid shall, at the option of the holder, become immediately due and payable.

Installments, or payment (if single payment Note), not paid within 5 days of due date shall incur a fee of 15% of the installment or payment, but not less than $10.00. The Holder shall be entitled to all costs of collection should this Note, or any part of the indebtedness evidenced hereby, be accelerated and not paid. Should this note be collected at law or by an attorney at law, an Attorney/Collection Fee of 15% of the balance due, but not less than $100.00, plus any costs and administration fees, shall be added.

Unless specifically disallowed by law, should litigation arise hereunder, service of process therefor may be obtained through certified mail, return receipt requested; the parties hereto waiving any and all rights they may have to object to the method by which service was perfected.

IN WITNESS WHEREOF: The undersigned acknowledge that they have read and understand this agreement and agree to all of the terms and conditions contained herein, and that they have been given a copy of this agreement.

_______________________________
Debtor

______________________________
Date

______________________________
Social Security Number

______________________________
Print Name

 

 

______________________________
Print Name

______________________________
Date

______________________________
Social Security Number

______________________________
Note Holder/Agent

 

 

Payment Schedule:

Date Due:

Amount

Date Due:

Amount

Date Due:

Amount

__/10/20__

$___________.00

__/10/20__

$___________.00

__/10/20__

$___________.00

__/10/20__

$___________.00

__/10/20__

$___________.00

__/10/20__

$___________.00



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