Interest Only Promissory Note With Balloon Payment In Fulton
Category:
State:
Multi-State
County:
Fulton
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
The Interest Only Promissory Note with Balloon Payment in Fulton is a financial instrument that allows borrowers to make interest-only payments for a specified period, followed by a larger balloon payment of the principal at the end of the term. This form includes essential details such as the borrower's and lender's names and addresses, the loan amount, interest rate, payment schedule, and the balloon payment amount due on a designated date. Users must fill in specific monetary values and dates while ensuring compliance with applicable usury laws. Key features include provisions for default, late payment penalties, and options for making additional principal payments with prepayment penalties that decrease over time. This form is particularly beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants in various real estate and finance transactions, allowing them to create customized loan agreements that meet their clients' financial needs. The clear structure of this form aids in quick understanding and proper execution, making it a reliable tool for legal and financial professionals.
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