Balloon Amortization Sureties For Debts In King
Category:
State:
Multi-State
County:
King
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
The Balloon Amortization Sureties for Debts in King is a legal form used for structuring a promissory note that features a significant final payment, known as a balloon payment. This note outlines the borrower's promise to pay the lender a specified sum, detailing interest rates and terms of repayment. Key aspects include the payment schedule, which consists of regular monthly installments and a large final payment due at the end of the term. Filling out this form requires careful attention to detail regarding the lender's and borrower's information, the loan amount, interest rate, and specific dates related to payments. This document is particularly useful for various legal stakeholders such as attorneys, partners, and paralegals who need to draft clear repayment agreements, and for owners or associates involved in financing arrangements. In circumstances of default, the form includes provisions for collection fees and waives certain legal demands. Its utility extends to ensuring compliance with applicable usury laws, making it relevant to professionals helping clients secure loans while adhering to legal standards.
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