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The last update of our promissory notes was completed in 2007 by a licensed California attorney.
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We offer you 3 different attorney-drafted promissory notes.
1) Our one page promissory note is the type of note you would use for an informal lending situation
(relatives and friends) where your only concern is having a
legal record that shows you are owed money that is to be paid
back.
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2) Our two page regular
promissory note is a popular, flexible, easy-to-use form designed for many situations where a debtor promises to pay back a specific sum of money to the payee over a specified length of time. This regular promissory note will cover interest rates, late payments, collateral, bankruptcy and more.
This note can be used for many different situations like:
- Lending a specific sum of money
- Selling vehicles
- Selling boats
- Selling machinery
- Selling personal property
- Selling business property
- And more
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3) Our three page
promissory note is a professional form that can be secured by a mortgage. This note has considerable detail and spells out more specifics than the short and regular promissory notes.
Some of the topics covered are:
- Payments and interest rate
- Late charges
- Rights of the holder
- Liabilities of the maker
- Options of collateral
- Breach of any security agreement
- Defaulting on note
- Death, dissolution, or liquidation of debtor
- Collection and attorney fees if needed
- And more
4) Our three page security
agreement is commonly used with a promissory note to secure collateral by the lender. This form spells out the details on the type of collateral, location, and how the collateral is handled if the debtor defaults. Our security agreement is included with the long promissory
note.
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