Balloon Amortization Sureties With Interest Rates In Hennepin
Category:
State:
Multi-State
County:
Hennepin
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
The Balloon Amortization Sureties with Interest Rates in Hennepin is a Promissory Note that outlines the terms for a loan between a borrower and a lender. This document specifies the amount borrowed, the applicable interest rate, and the payment structure, which includes monthly installments and a final balloon payment at the end of the term. Key features include the ability to make additional principal payments with a prepayment penalty, provisions in case of default, and a waiver of certain legal formalities to streamline the payment process. Users must fill in specific details such as loan amount, lender's information, and payment schedule. Additionally, the form addresses compliance with usury laws to ensure legal enforceability. It is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants working in real estate or finance, as it provides a clear framework for loan agreements which are common in real estate transactions. The form allows easy customization to suit specific agreements and facilitates legal protection for both parties involved.
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