A Gresham Oregon Installments Fixed Rate Promissory Note Secured by Commercial Real Estate is a legal document that outlines a specific type of loan agreement between a borrower and a lender. It is used specifically for loans related to commercial real estate properties in Gresham, Oregon. This promissory note is designed to provide clarity and establish the terms and conditions of the loan. It outlines the amount of the loan, the fixed interest rate, and the repayment schedule, which typically consists of monthly installments. Secured by commercial real estate, this type of promissory note ensures that the lender has a legal claim on the borrower's property as collateral. This gives the lender some security in case the borrower fails to make timely payments or defaults on the loan. Gresham, Oregon is known for its vibrant commercial real estate market, offering various types of properties where this kind of loan can be secured. These may include office buildings, retail spaces, industrial complexes, or mixed-use developments. Depending on the specific property type, there might be variations in the terms, conditions, and interest rates offered by lenders. It's crucial for both parties to carefully review and understand the terms specified in the promissory note. The borrower should assess their ability to meet the monthly installments, while the lender should evaluate the value and potential risks associated with the commercial real estate property used as collateral. Overall, a Gresham Oregon Installments Fixed Rate Promissory Note Secured by Commercial Real Estate is a legally binding agreement that protects the interests of both parties involved in a loan transaction related to commercial real estate in Gresham, Oregon.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.Gresham Oregon Oregón Cuotas Pagaré de Tasa Fija Garantizado por Bienes Raíces Comerciales - Oregon Installments Fixed Rate Promissory Note Secured by Commercial Real Estate
Category:
State:
Oregon
City:
Gresham
Control #:
OR-NOTESEC3
Format:
Word
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Description
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.
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