Note With Balloons In Tarrant
Category:
State:
Multi-State
County:
Tarrant
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
The Note with balloons in Tarrant is a legally binding promissory note indicating the borrower's promise to repay a specified sum to the lender, including terms of interest and repayment. Key features include a monthly installment plan with one final balloon payment due at a specified future date. The form requires users to fill in various sections, including the names and addresses of both the borrower and lender, the loan amount, interest rate, and specific due dates. This form is crucial for situations involving large loans where borrowers want flexibility in repayment terms. Intended for use by attorneys, partners, owners, associates, paralegals, and legal assistants, this note offers a reliable structure for drafting promissory agreements. Users should ensure compliance with applicable usury laws and include a provision for potential additional fees in case of default. The note also allows for prepayment options, emphasizing the importance of clarity regarding penalties and conditions. Overall, this form facilitates secure lending practices while safeguarding the interests of both parties involved.
Free preview
