This is a form of Promissory Note for use where commercial property is security for the loan. A separate deed of trust or mortgage is also required.
Ohio Installments Fixed Rate Promissory Note: A financial document used in Ohio that dictates the terms under which money is borrowed and to be repaid in fixed installments at a fixed interest rate. Promissory Note: A written, legally binding document where one party promises to pay another a definite sum of money either on demand or at a specified future date. Secured Residential: Refers to loans or obligations secured by residential real estate. Real Estate: Property consisting of land and the buildings on it.
A promissory note in Ohio can be used for a range of transactions, primarily focusing on real estate and large personal loans. Ensure compliance with the Ohio Revised Code and consult legal professionals when drafting the note.
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