Balloon Amortization Sureties With Interest Rates In Alameda
Category:
State:
Multi-State
County:
Alameda
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
The Balloon Amortization Sureties with Interest Rates in Alameda form is a legal document designed to outline the terms of a promissory note where the borrower agrees to make periodic interest payments, followed by a larger 'balloon' payment at maturity. This form allows users to set the loan amount, interest rate, payment schedule, and terms for defaults and prepayments. It is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate transactions or loan agreements, as it provides a clear structure for financial obligations. Completing this form requires filling in the principal amount, lender’s details, interest rate, and installment terms. Users should edit the form to align with Florida state laws and ensure compliance with applicable usury laws. Specific scenarios for using this form include financing property sales or loans where a substantial final payment is anticipated. This structured approach minimizes the risk of default and provides a sturdy legal basis for collection actions if disagreements arise.
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