Balloon Note In Creo In Ohio
Category:
State:
Multi-State
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
The Balloon Note in Creo in Ohio is a financial document used for borrowing money, which includes the promise to repay a principal amount with interest. This form features a payment structure that consists of regular monthly installments followed by a large final payment, known as the balloon payment. Users must fill in details such as the borrower and lender's names, addresses, loan amount, interest rate, and payment schedule. The Note allows for additional principal payments with specified prepayment penalties decreasing over time. It's particularly useful in real estate transactions, as this Note is secured by a Deed of Trust on property. Key features include provisions for default, collection fees, and adherence to state usury laws, ensuring legal compliance and borrower protection. Target users such as attorneys, partners, owners, associates, paralegals, and legal assistants will find this form essential for drafting loan agreements and managing real estate financing strategies.
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