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Promissory Note Template Ohio

Used 4,872 times

Ensure a secure investment when lending money to friends or family with a promissory note for Ohio.

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Promissory Note Ohio Template

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This Promissory Note (the "Note") entered as of (Date), by and between

[Borrower.FirstName][Borrower.LastName] (the Borrower),

being able to send mail to [Borrower.StreetAddress][Borrower.City][Borrower.State][Borrower.PostalCode], and

[Lender.FirstName][Lender.LastName] (the Lender),

being able to send mail to [Lender.StreetAddress][Lender.City][Lender.State][Lender.Phone].

The laws of the State of Ohio regulate this Note.

1. Parties Identification

For the purposes of this document, [Borrower.FirstName][Borrower.LastName] will be identified as the "borrower", while [Lender.FirstName][Lender.LastName] will be identified as the "Lender".

2. Amount of Money Owed

2.1 Promise of payment

The Lender undertakes to make full payment of (Loan.Amount) plus any interest accruing thereon. In doing so, he/she will follow all terms and specifications included in this promissory note.

2.2 Interest included in the debt

Interest. Payment of this debt shall contain the interest indicated above, plus any additional expenses involved in this promissory note (late payments, collateral, etc.). Following the laws of the State of Ohio, the maximum interest will be taken on such debt (LegalInterest.Amount)%.

In addition, if a payment is received, it will first seek to cover the interest accrued on the note and then cover the principal debt.

3. Form of Payment

This note will be paid in equal-sized installments in the amount of (Payment.Amount). The first payment will be due on the (Payment.Date) date and will seek to cover (Payment.period) periods consecutively until said debt is satisfied.

4. Ways to Guarantee the Payment

To guarantee payment to the Lender, the borrower presents this collateral property (CollateralProperty.Description). In the event that payment is not made on the stipulated date or the borrower defaults, this collateral property becomes the full property of the Lender and may be disposed of as payment of the debt.

5. Borrower Signature



Promissory Note Template Ohio

Used 4,872 times

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