Balloon Amortization Sureties With Interest In Montgomery
Category:
State:
Multi-State
County:
Montgomery
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
The Balloon Amortization Sureties with Interest in Montgomery is a Promissory Note that outlines the borrower's obligation to repay a specified amount with interest. This document includes key features such as the payment terms, which require the borrower to make monthly installments followed by a final balloon payment at the end of the loan term. It specifies the interest rate, the duration of amortization, and consequences of default, including collection fees. Users must fill in the lender's name and address, the amount of the loan, interest rate, payment schedule, and prepayment penalty details. This note is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who may engage in real estate transactions, providing a clear framework for securing loans. It ensures compliance with usury laws and outlines the maker's obligations, as well as the rights of the lender. By understanding this document, legal professionals can assist clients in navigating financial agreements effectively.
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