Balloon Amortization Sureties With Interest Rates In Minnesota
Category:
State:
Multi-State
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
The Balloon Amortization Sureties with Interest Rates in Minnesota document is a detailed promissory note designed to outline the terms of a loan agreement. It specifies the total loan amount, the interest rate per annum, and the repayment structure including monthly installments and a final balloon payment. Users must fill in essential details such as the names and addresses of both the lender and borrower, the loan amount, the interest rate, and the schedule for payments. The form is particularly useful for attorneys, partners, and associates in real estate transactions, as it provides a clear framework for borrowers and lenders, detailing responsibilities and payment terms. Paralegals and legal assistants can use it to ensure compliance with state regulations regarding usury laws and to prepare necessary supporting documents. The form also allows for prepayments with specified penalties, which can be beneficial for managing cash flow. Overall, this document serves as a foundational tool for securing loans in Minnesota, making it essential for professionals navigating the legal landscape of financing.
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