Fill and Sign the Sample Promissory Note Pwcstateohus Form

PROMISSORY NOTE (This is a Balloon Note) $___________________ _____________City ________ StateDate: ________________________ _________________ The undersigned promises to pay to ________________________ (Name of Lender) of ________________________ (Address of Lender) or order, the sum of ________________________ ($_______________) in lawful money of the United States of America at the home office of said ________________________ (Name of Lender) with interest thereon from date at the rate of Percent ( %) per annum until paid. Said principal and interest is payable at ________________________ (Address of Lender) or at such other place as the Lender may designate, in ( ) consecutive monthly installments of _________________________ ($___________) on the ________ day of each month beginning on the _____ day of _____________, 20_______, and one final balloon payment of __________________________ ($___________), which balloon payment shall be due and payable on the ______ day of ______________, 20_____. The monthly principal and interest payments shall be based on a ____________ ( ) year amortization. Each monthly installment shall be applied first to interest then due, and the remainder to principal, which monthly install-ments and balloon payment the undersigned, promises to pay as they fall due. NOTE: The full balance of all unpaid principal and interest hereunder shall be due and payable on the _____ day of ____________, 20_____ if not sooner paid. It is agreed that in the event default is made in the payment of this Note at maturity, or of any installment thereof, whether maturing by expiration of time, by default as herein provided, or as provided in the Deed of Trust given in security hereof, and same is placed in the hands of an attorney for collection, then an additional amount of __________ Percent ( %) on the principal and interest of this Note shall be added to the same as a collection fee, and the failure to pay any installment when due shall mature the entire indebtedness at the option of the holder of this Note. Privilege is reserved to make payments on the principal in addition to the regular monthly installments on any installment date by paying a __________ Percent ( %) prepayment penalty on such excess during the first year of this loan, which prepayment penalty shall be reduced each year thereafter at the rate of ________ Percent (_______ %) per year, but never below %. The Note holder may require that any partial prepayments (i) be made on the date monthly installments are due, and (ii) be in the amount of that part of one or more monthly installments which would be applicable to principal. Any partial prepayment shall be applied against the principal amount outstanding in the inverse order of due dates and shall not postpone the due date of any subsequent monthly installments or change the amount of such installments