Unsecured Promissory Note With Balloon Payment In Bexar
Category:
State:
Multi-State
County:
Bexar
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
The Unsecured Promissory Note with Balloon Payment in Bexar is a legal document in which the borrower promises to repay a specified amount of money to the lender, with a mixture of monthly installments and a final balloon payment. Key features include a defined interest rate, payment schedule, and provisions for late payments and defaults. Notably, borrowers have the privilege to make additional principal payments, subject to certain prepayment penalties that diminish over time. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants dealing with unsecured loans in Bexar. It includes standard contractual clauses addressing usury laws, ensuring that all terms conform to applicable legal limits. Users must fill in specific details such as the loan amount, payment schedule, and addresses for both lender and borrower. By clearly outlining obligations and consequences of non-payment, this note helps to minimize legal disputes and ambiguities.
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