Note With Balloons In Miami-Dade
Category:
State:
Multi-State
County:
Miami-Dade
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
The Promissory Note (This is a Balloon Note) is a financial document specific to Miami-Dade that outlines the repayment terms for a loan. It includes key features such as the loan amount, interest rate, payment structure, and conditions for default. The form specifies monthly installment payments and a final balloon payment, which is a larger sum due at the end of the loan term. Users must fill in the lender's name and address, payment amounts, and dates for both installments and the final payment. This document is especially useful for professionals such as attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate transactions, financing, or loan agreements in Miami-Dade. It provides a clear framework for securing loans with real estate collateral, ensuring compliance with usury laws. Moreover, it allows for prepayment under specific conditions, adding flexibility for borrowers. The straightforward language and structured format make it accessible for users with varying levels of legal expertise.
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