Balloon Amortization Sureties For Debts In Texas
Category:
State:
Multi-State
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
The Balloon Amortization Sureties for Debts in Texas form is designed for individuals or entities that wish to formalize a loan agreement featuring balloon payment liabilities. This Promissory Note allows borrowers to repay the loan in regular monthly installments while deferring a significant portion of the principal balance as a lump sum payment at the end of the loan term. Key features include specific payment terms, interest rates, a prepayment penalty clause for early payments, and provisions for default scenarios. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants in structuring financing agreements, ensuring compliance with usury laws, and securing loans through a Deed of Trust. It is important for users to fill in details regarding payment schedules, interest rates, lender and borrower information, as well as compliance notes on potential finance charges. This form assists legal professionals in navigating the complexities of debt agreements in Texas, making it easier to establish clear terms both for clients and lenders.
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