Balloon Payment Promissory Note Example In Alameda
Category:
State:
Multi-State
County:
Alameda
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
The Balloon Payment Promissory Note example in Alameda is a legal document used for a loan where repayment consists of regular monthly installments and a final larger balloon payment. This form requires users to fill in specific details such as the lender's name and address, loan amount, interest rate, payment amounts, and due dates. It provides flexibility for the borrower, allowing additional principal payments, although a prepayment penalty applies during the first year. The document outlines the consequences of default and includes provisions for attorney fees and waiver of certain rights by the borrower. It is important for users to ensure compliance with applicable usury laws to avoid excessive finance charges. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it facilitates clear communication regarding loan terms and conditions. By providing clear guidelines for filling in details, it streamlines the process of drafting a loan agreement for residential or commercial property financing.
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