Promissory Note With Balloon Payment Template In Bexar
Category:
State:
Multi-State
County:
Bexar
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
The Promissory Note with Balloon Payment template in Bexar is a legal document used to outline the terms of a loan agreement between a borrower and a lender. This form stipulates the total loan amount, interest rates, and payment structure, including monthly installments and a final balloon payment due at the end of the loan term. Users will fill in blanks for amounts, dates, and personal details to customize the note. The document emphasizes that any late payments may lead to the entire debt being called due, and it specifies collection fees in the event of default. The template includes provisions for partial prepayments along with a prepayment penalty, which decreases over time. It also ensures compliance with applicable usury laws by capping finance charges, offering protections to borrowers. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants in real estate or lending contexts, as it provides a clear framework for establishing lending terms, safeguarding both parties' interests.
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