This form is a secured Promissory Note. The note includes a provision which describes the collateral to be used as security on the loan. The form also contains a section which details various actions which would constitute default on the note.
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.
While you can handle it yourself, having a lawyer can help ensure everything is in order. They can clarify any legal jargon and make sure the note is enforceable in Boston.
Yes, there's a risk of losing your collateral if you can't keep up with payments. It's important to only use assets you can afford to part with.
Both individuals and businesses use secured promissory notes. They're popular for real estate deals, personal loans, and helping businesses fund their growth.
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