Balloon Amortization Sureties With Interest In Ohio
Category:
State:
Multi-State
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
The Balloon Amortization Sureties with Interest in Ohio is a promissory note that outlines a borrower's agreement to repay a specified sum to a lender, including interest, through monthly installments followed by a final balloon payment. This form is particularly useful for those in Ohio seeking flexible financing options, allowing users to structure loans that include a significant final payment after a period of regular payments. Key features include setting the annual interest rate, specifying payment amounts, and including provisions for prepayment and default. It facilitates clarity on responsibilities for both lenders and borrowers by detailing payment schedules and consequences of non-payment. Additionally, it provides protection by conforming to usury laws, ensuring that finance charges do not exceed legal limits. Target audiences such as attorneys, partners, owners, associates, paralegals, and legal assistants will find this form advantageous for drafting loans and understanding liability in lending agreements. To fill out this form, users should enter specific financial details, adhere to legal standards, and ensure clear communication between parties involved.
Free preview
