Note With Balloon Payment In King
Category:
State:
Multi-State
County:
King
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
The Promissory Note with balloon payment in King is a financial document outlining the borrower's commitment to repay a specified amount to a lender. This form specifies the total loan amount, interest rate, and repayment terms, including monthly installments and a final balloon payment due on a designated date. The document allows for prepayment of the principal amount, subject to specific penalties which decrease over time. It highlights the obligations of the borrower, such as waiving certain rights related to payment and default. Users must fill in the lender's and borrower's names and addresses, loan amounts, interest rates, and relevant dates. This note is particularly useful for parties involved in real estate transactions, allowing for financing arrangements without immediate full payment. Attorneys, partners, owners, associates, paralegals, and legal assistants will find it beneficial for drafting and negotiating loan agreements, ensuring compliance with usury laws, and securing interests through related deeds of trust.
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