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Texas s a sealed instrument and is made and executed under, and is in all respects governed by, the laws of: _____________________________ (State). _________________________________ (Signature of Borrower) writing. If any provision of this Note is deemed unenforceable, in whole or in part, for any reason, the remaining provisions shall still remain in full force and effect. This note shall take effect are to exercise any right or option hereunder does not constitute a waiver of any future right or option. No modification to this document or indulgence by any holder hereof shall be binding unless in ower further agrees to remain bound by this note notwithstanding any extension, modification, waiver, or other indulgence, failure, discharge or release of any obligation hereunder. The holder's failuies to this note, whether as endorsers, guarantors or sureties, agree to remain fully bound until this note shall be paid in full and waive demand, presentment and protest and all notices hereto. Borrlection, which may occur. All payments hereunder shall be made to such address as may from time to time be designated by any holder and must be made in United States funds. Borrower and all other partrsons who may become liable for the payment hereof severally waive demand, presentment, protest, notice of dishonor or nonpayment, notice of protest, and any and all lack of diligence or delays in colever is less. Upon default in making payment within 7 days of demand, Borrower agrees to pay all reasonable legal fees and costs of collection to the extent permitted by law. Borrower and all other pebecome immediately due and payable. Any amount due at the time of default, shall accrue interest until payment at the rate of fifteen percent (15%) per year or the highest rate permitted by law, which the event of any default by the Borrower in the payment of Principal or interest after demand is made, the unpaid balance of the Principal of this promissory note shall, at the option of the holder, f this note. All or any part of the Principal may be prepaid at any time and from time to time without penalty. Payments shall be applied first to accrued interest and the balance to the Principal. In), together with interest of _____% (Interest Rate) per year thereon from the date herein. The entire unpaid Principal and any accrued interest shall be immediately payable UPON DEMAND of any holder os) promises to pay to the order of ________________________________ (Lender), whose address is ______________________________________ (Lender's Address), the principal sum of $_____________ (PrincipalPromissory Note - On Demand Amount $ Date FOR VALUE RECEIVED, the undersigned, _______________________________ (Borrower), maintaining an address at _______________________________ (Borrower's Addresyment of the principal and interest at any time the lender requests it (i.e. upon demand of the Lender). Please note that this information is not intended as and is not a substitute for legal advice ("Principal") plus interest at once, while others require periodic payments of interest, followed by a lump sum payment of the amount borrowed. This particular Promissory Note ­ On Demand requires paort necessary to collect the amount lent. There are different types of Promissory Notes and countless different ways to structure a Note. Some Promissory Notes require a payment of the amount borrowedrepayment, the rate of interest, conditions of default and any other necessary terms. Just like any contract, a Promissory Note can help the Lender enforce repayment terms and can be useful in any effon lends money to another person, it is generally a good idea to have some document memorializing the transaction. The document should indicate identify the parties, the amount borrowed, the time for alforms.com Information Promissory Note - On Demand A Promissory Note creates an obligation for a Borrower to repay a loan back to a Lender together with a certain amount of interest. Whenever a pers be a starting point for you and should not be used without consulting with an attorney first. [__] The purchase and use of these forms, is subject to the Disclaimers and Terms of Use found at findleg be a good idea to have a lawyer review the completed Promissory Note before the Borrower signs it. [__] These forms are not intended and are not a substitute for legal advice. These forms should only the original Promissory Note and should then sign and date it. The original Promissory Note should then be given back to the Borrower. [__] Laws vary from time to time and from state to state. It may [__] When the Borrower's obligation under the Promissory Note is satisfied (i.e. the Note is paid off), the Lender should write "Cancelled", "Satisfied in Full" or "Paid in Full" on the front face ofsory Note containing the original signature of the Borrower. There should only be one original Promissory Note with the original signature. [__] The Borrower should keep a copy of the Promissory Note.romissory Note ­ On Demand; [__] The Borrower must sign and date the Promissory Note [__] Signature does normally not need to be witnessed or notarized. [__] The Lender should keep the original PromisInstructions & Checklist Promissory Note ­ On Demand [__] This package contains (1) Instructions & Checklist for Promissory Note ­ On Demand; (2) Information for Promissory Note ­ On Demand; and (3) P TexasTexas a sealed instrument and is made and executed under, and is in all respects governed by, the laws of: _____________________________ (State). _________________________________ (Signature of Borrower) iting. If any provision of this Note is deemed unenforceable, in whole or in part, for any reason, the remaining provisions shall still remain in full force and effect. This note shall take effect as to exercise any right or option hereunder does not constitute a waiver of any future right or option. No modification to this document or indulgence by any holder hereof shall be binding unless in wrer further agrees to remain bound by this note notwithstanding any extension, modification, waiver, or other indulgence, failure, discharge or release of any obligation hereunder. The holder's failures to this note, whether as endorsers, guarantors or sureties, agree to remain fully bound until this note shall be paid in full and waive demand, presentment and protest and all notices hereto. Borrowction, which may occur. All payments hereunder shall be made to such address as may from time to time be designated by any holder and must be made in United States funds. Borrower and all other partieons who may become liable for the payment hereof severally waive demand, presentment, protest, notice of dishonor or nonpayment, notice of protest, and any and all lack of diligence or delays in colleer is less. Upon default in making payment within 7 days of demand, Borrower agrees to pay all reasonable legal fees and costs of collection to the extent permitted by law. Borrower and all other perscome immediately due and payable. Any amount due at the time of default, shall accrue interest until payment at the rate of fifteen percent (15%) per year or the highest rate permitted by law, whichevhe event of any default by the Borrower in the payment of Principal or interest after demand is made, the unpaid balance of the Principal of this promissory note shall, at the option of the holder, bed in full. All or any part of the Principal may be prepaid at any time and from time to time without penalty. Payments shall be applied first to accrued interest and the balance to the Principal. In the first payment beginning on __________________ and continuing every month thereafter with a like amount on the same date each month until the full amount of this note and all accrued interest is pai(Principal), together with interest of _____% (Interest Rate) per year thereon from the date herein. The unpaid Principal and accrued interest shall be paid in monthly installments of $_______, with tr's Address) promises to pay to the order of ________________________________ (Lender), whose address is ______________________________________ (Lender's Address), the principal sum of $_____________ l advice Installment Promissory Note Amount $ Date FOR VALUE RECEIVED, the undersigned, _______________________________ (Borrower), maintaining an address at _______________________________ (Borroweissory Note requires equal monthly payments (which include Principal and Interest) until the Note is paid in full. Please note that this information is not intended as and is not a substitute for lega of the amount borrowed ("Principal") plus interest at once, while others require periodic payments of interest, followed by a lump sum payment of the amount borrowed. This particular Installment Proman be useful in any effort necessary to collect the amount lent. There are different types of Promissory Notes and countless different ways to structure a Note. Some Promissory Notes require a paymentborrowed, the time for repayment, the rate of interest, conditions of default and any other necessary terms. Just like any contract, a Promissory Note can help the Lender enforce repayment terms and cterest. Whenever a person lends money to another person, it is generally a good idea to have some document memorializing the transaction. The document should identify the parties, indicate the amount of Use found at findlegalforms.com Information Installment Promissory Note A Promissory Note creates an obligation for a Borrower to repay a loan back to a Lender together with a certain amount of inThese forms should only be a starting point for you and should not be used without consulting with an attorney first. [__] The purchase and use of these forms, is subject to the Disclaimers and Terms state to state. It may be a good idea to have a lawyer review the completed Promissory Note before the Borrower signs it. [__] These forms are not intended and are not a substitute for legal advice. l" on the front face of the original Promissory Note and should then sign and date it. The original Promissory Note should then be given back to the Borrower. [__] Laws vary from time to time and fromllment Promissory Note. [__] When the Borrower's obligation under the Promissory Note is satisfied (i.e. the Note is paid off), the Lender should write "Cancelled", "Satisfied in Full" or "Paid in Fulinal Promissory Note containing the original signature of the Borrower. There should only be one original Promissory Note with the original signature. [__] The Borrower should keep a copy of the Instastallment Promissory Note. [__] The Borrower must sign and date the Installment Promissory Note [__] Signature does normally not need to be witnessed or notarized. [__] The Lender should keep the origInstructions & Checklist Installment Promissory Note [__]This package contains (1) Instructions & Checklist for Installment Promissory Note; (2) Information for Installment Promissory Note; and (3) In TexasTexas ________________________ (Signature of Borrower) nd effect. This note shall take effect as a sealed instrument and is made and executed under, and is in all respects governed by, the laws of: of the State of _____________________________. _________older hereof shall be binding unless in writing. If any provision of this Note is deemed unenforceable, in whole or in part, for any reason, the remaining provisions shall still remain in full force aobligation hereunder. The holder's failure to exercise any right or option hereunder does not constitute a waiver of any future right or option. No modification to this document or indulgence by any hand protest and all notices hereto. Borrower further agrees to remain bound by this note notwithstanding any extension, modification, waiver, or other indulgence, failure, discharge or release of any tates funds. Borrower and all other parties to this note, whether as endorsers, guarantors or sureties, agree to remain fully bound until this note shall be paid in full and waive demand, presentment d all lack of diligence or delays in collection, which may occur. All payments hereunder shall be made to such address as may from time to time be designated by any holder and must be made in United Smitted by law. Borrower and all other persons who may become liable for the payment hereof severally waive demand, presentment, protest, notice of dishonor or nonpayment, notice of protest, and any anthe highest rate permitted by law, whichever is less. Upon default in making payment within 7 days of demand, Borrower agrees to pay all reasonable legal fees and costs of collection to the extent perote shall, at the option of the holder, become immediately due and payable. Any amount due at the time of default, shall accrue interest until payment at the rate of fifteen percent (15%) per year or est and the balance to the Principal. In the event of any default by the Borrower in the payment of Principal or interest after demand is made, the unpaid balance of the Principal of this promissory n shall be fully paid on or before ___________, 20__. All or any part of the Principal may be prepaid at any time and from time to time without penalty. Payments shall be applied first to accrued interrst payment due on __________________, and the same amount due on the same day of each month thereafter for the next ____ consecutive months. The remaining balance with the accrued but unpaid interest), together with interest of _____% (Interest Rate) per year thereon from the date herein. The unpaid Principal and accrued interest shall be paid in monthly installments of $_______ each, with the fis) promises to pay to the order of ________________________________ (Lender), whose address is ______________________________________ (Lender's Address), the principal sum of $_____________ (Principalgal advice Promissory Note Amount $ Date FOR VALUE RECEIVED, the undersigned, _______________________________ (Borrower), maintaining an address at _______________________________ (Borrower's Addres with a final balloon payment (a final large payment that will include all of the remaining principal and interest). Please note that this information is not intended as and is not a substitute for leperiodic payments of interest, followed by a lump sum payment of the amount borrowed. This particular Installment Promissory Note requires equal monthly payments (which include Principal and interest) Promissory Notes and countless different ways to structure a Promissory Note. Some Promissory Notes require a payment of the borrowed amount ("Principal") plus interest at once, while others require ecessary terms. Just like any contract, a Promissory Note can help the Lender enforce repayment terms and can be useful in any effort necessary to collect the amount lent. There are different types ofsome document memorializing the transaction. The document should identify the parties, indicate the amount borrowed, the time for repayment, the rate of interest, conditions of default and any other n creates an obligation for a Borrower to repay a loan back to a Lender together with a certain amount of interest. Whenever a person lends money to another person, it is generally a good idea to have t. The purchase and use of these forms, is subject to the Disclaimers and Terms of Use found at findlegalforms.com Information Installment Promissory Note with Final Balloon Payment A Promissory Noteer signs it. These forms are not intended and are not a substitute for legal advice. These forms should only be a starting point for you and should not be used without consulting with an attorney firsssory Note should then be given back to the Borrower. Laws vary from time to time and from state to state. It may be a good idea to have a lawyer review the completed Promissory Note before the Borrowory Note is paid off), the Lender should write "Cancelled", "Satisfied in Full" or "Paid in Full" on the front face of the original Promissory Note and should then sign and date it. The original Promine original Promissory Note with the original signature. The Borrower should keep a copy of the Promissory Note. When the Borrower's obligation under the Promissory Note is satisfied (i.e. the Promissry Note. The signature doesn't normally need to be witnessed or notarized. The Lender should keep the original Promissory Note containing the original signature of the Borrower. There should only be ormation for Installment Promissory Note with Final Balloon Payment; and (3) Installment Promissory Note with Final Balloon Payment (the "Promissory Note"). The Borrower must sign and date the PromissoInstructions & Checklist Installment Promissory Note with Final Balloon Payment This package contains: (1) Instructions & Checklist for Installment Promissory Note with Final Balloon Payment; (2) Info TexasTexas ______________________. _________________________________ (Signature of Borrower) ns shall still remain in full force and effect. This note shall take effect as a sealed instrument and is made and executed under, and is in all respects governed by, the laws of: the State of _______ this document or indulgence by any holder hereof shall be binding unless in writing. If any provision of this Note is deemed unenforceable, in whole or in part, for any reason, the remaining provisiofailure, discharge or release of any obligation hereunder. The holder's failure to exercise any right or option hereunder does not constitute a waiver of any future right or option. No modification ton full and waive demand, presentment and protest and all notices hereto. Borrower further agrees to remain bound by this note notwithstanding any extension, modification, waiver, or other indulgence, y holder and must be made in United States funds. Borrower and all other parties to this note, whether as endorsers, guarantors or sureties, agree to remain fully bound until this note shall be paid iayment, notice of protest, and any and all lack of diligence or delays in collection, which may occur. All payments hereunder shall be made to such address as may from time to time be designated by ancosts of collection to the extent permitted by law. Borrower and all other persons who may become liable for the payment hereof severally waive demand, presentment, protest, notice of dishonor or nonpof fifteen percent (15%) per year or the highest rate permitted by law, whichever is less. Upon default in making payment within 7 days of demand, Borrower agrees to pay all reasonable legal fees and of the Principal of this promissory note shall, at the option of the holder, become immediately due and payable. Any amount due at the time of default, shall accrue interest until payment at the rate all be applied first to accrued interest and the balance to the Principal. In the event of any default by the Borrower in the payment of Principal or interest after demand is made, the unpaid balance any accrued but unpaid interest shall be fully paid on or before _______________, 20___. All or any part of the Principal may be prepaid at any time and from time to time without penalty. Payments shh interest of _____% (Interest Rate) per year thereon from the date herein. Accrued interest shall be payable on the first business day of each year and at maturity. The entire Principal together withpay to the order of ________________________________ (Lender), whose address is ______________________________________ (Lender's Address), the principal sum of $_____________ (Principal), together witry Term Note Amount $ Date FOR VALUE RECEIVED, the undersigned, _______________________________ (Borrower), maintaining an address at _______________________________ (Borrower's Address) promises to note and remaining accrued interest (interest payments will be made yearly) on a specific date. Please note that this information is not intended as and is not a substitute for legal advice Promissoothers require periodic payments of interest, followed by a lump sum payment of the amount borrowed. This particular Promissory Note requires the Borrower to pay off the entire principal amount of theere are different types of Promissory Notes and countless different ways to structure a Note. Some Promissory Notes require a payment of the borrowed amount ("Principal") plus interest at once, while of default and any other necessary terms. Just like any contract, a Promissory Note can help the Lender enforce repayment terms and can be useful in any effort necessary to collect the amount lent. Thrally a good idea to have some document memorializing the transaction. The document should identify the parties, indicate the amount borrowed, the time for repayment, the rate of interest, conditions erm Note A Promissory Note creates an obligation for a Borrower to repay a loan back to a Lender together with a certain amount of interest. Whenever a person lends money to another person, it is geneshould not be used without consulting with an attorney first. The purchase and use of these forms, is subject to the Disclaimers and Terms of Use found at findlegalforms.com Information Promissory Twyer review the completed Promissory Note before the Borrower signs it. These forms are not intended and are not a substitute for legal advice. These forms should only be a starting point for you and y Note and should then sign and date it. The original Promissory Note should then be given back to the Borrower. Laws vary from time to time and from state to state. It may be a good idea to have a laon under the Promissory Note is satisfied (i.e. the Promissory Note is paid off), the Lender should write "Cancelled", "Satisfied in Full" or "Paid in Full" on the front face of the original Promissor original signature of the Borrower. There should only be one original Promissory Note with the original signature. The Borrower should keep a copy of the Promissory Note. When the Borrower's obligati "Promissory Note"). The Borrower must sign and date the Promissory Note. The signature doesn't normally need to be witnessed or notarized. The Lender should keep the original Promissory Note with theInstructions & Checklist Promissory Term Note This package contains: (1) Instructions & Checklist for Promissory Term Note; (2) Information for Promissory Term Note; and (3) Promissory Term Note (the TexasTexas . Dated ___________________________ , 20 ____ _____________________________ Signature of Guarantor _____________________________ Name of Guarantor 2 _ days of demand, Guarantor will be responsible for any costs of collection on this Note, including court costs and attorney fees. This Guaranty both binds and benefits both parties and any successorses not have to exhaust all rights against the Borrower before demanding payment under this guaranty. 1 In the event that all payments due under this Guaranty are not paid on demand within __________, unconditionally guarantees payment of all payments on the above Promissory Note when due. The Guarantor waives demand, presentment for payment, protest, and notice, and agrees that the Noteholder do_____ Name of Borrower GUARANTY For value received, the Guarantor, ________________________ , of _______________________ , City of ___________________________ , State of ___________________________ fault, Borrower will also be responsible for any costs of collection on this Note, including court costs and attorney fees. _____________________________ Signature of Borrower ________________________on demand of any Noteholder. This note is not assumable without the written consent of the Noteholder. The Borrower waives demand, presentment for payment, protest, and notice. In the event of such de_______ , 20___. This Note may be prepaid in whole or in part at any time without penalty. If the Borrower is in default more than ______________________ days with any payment, this Note is payable uprest, and continuing on the ___________________________ day of each ___________________________ until paid in full. If not paid off sooner, this Note is due and payable in full on ____________________f ______ % (___________ percent) on any unpaid balance. Payments are payable to the Noteholder in ___________________________ consecutive installments of $ ___________________________ , including inte____ , of ___________________________ , City of ___________________________ , State of ___________________________ , the principal amount of $ ___________________________ , with interest at the rate oorrower, ___________________________ , of ____________________ , City of ___________________________ , State of ___________________________ , promises to pay to the Noteholder, _______________________als. An attorney should be consulted for all serious legal matters. PROMISSORY NOTE (with Guarantor) $ ___________________________ Dated: ___________________________ , 20 __ For value received, the Bsiness interruption) however caused and on any theory of liability, whether in contract, strict liability, or tort (including negligence or otherwise) arising in any way out of the use of these materible for any direct, indirect, incidental, special, exemplary, or consequential damages (including, but not limited to, procurement of substitute goods or services; loss of use, data, or profits; or bu The materials are used at your own risk. In no event will: i) FindLegalForms, Inc, its agents, partners, or affiliates, or ii) the providers, authors or publishers of the forms, be responsible or liagalforms.com. These materials are provided "AS-IS." We do not give any express or implied warranties of merchantability, suitability or completeness for any of the materials for your particular needs.nship is created by use of these materials. FindLegalForms, Inc. does not provide legal advice. The purchase and use of these materials is subject to the "Disclaimers and Terms of Use" found at findle. The guarantor also agrees to pay any costs of collection if the guaranty is not lived up to. This unsecured promissory note is set up for installment payments. Disclaimer No Attorney-Client relatioere is a guarantor for repayment of the debt. This guarantor is, in effect, a co-signer for the note. The guarantor agrees that if any of the payments are late or not paid, they will make the paymentsInformation Promissory Note (with Guarantor) Provided under agreement with copyright holder, © Nova Publishing Company 2004 This type of note is an unsecured one, but with an important difference. Th TexasTexas ed: ___________________________ , 20 ____ ____________________________ Signature of Noteholder ____________________________ Name of Noteholder __ , State of ___________________________ , from any claims or obligations on account of this note. The party signing this release intends that it bind and benefit both itself and any successors. Dat____ , State of ___________________________ , releases and discharges the Borrower(s), ______________________________________________, of ___________________________, City of _________________________ory note dated ___________________________ , 20 ___, in the face amount of $ _________________, the Noteholder, _____________________ , of ___________________________ , City of _______________________rwise) arising in any way out of the use of these materials. An attorney should be consulted for all serious legal matters. RELEASE OF PROMISSORY NOTE In consideration of full payment of the promiss goods or services; loss of use, data, or profits; or business interruption) however caused and on any theory of liability, whether in contract, strict liability, or tort (including negligence or otheuthors or publishers of the forms, be responsible or liable for any direct, indirect, incidental, special, exemplary, or consequential damages (including, but not limited to, procurement of substituteness for any of the materials for your particular needs. The materials are used at your own risk. In no event will: i) FindLegalForms, Inc, its agents, partners, or affiliates, or ii) the providers, act to the "Disclaimers and Terms of Use" found at findlegalforms.com. These materials are provided "AS-IS." We do not give any express or implied warranties of merchantability, suitability or completelder of the note. Disclaimer No Attorney-Client relationship is created by use of these materials. FindLegalForms, Inc. does not provide legal advice. The purchase and use of these materials is subjefrom the bearer of the note of release from the obligation. Another situation may involve a release of the note based on a concurrent release of a claim that the maker of the note holds against the horomissory Note. This release may be used in those situations when the release is based on something other than payment in full of the underlying note. For example, the note may be satisfied by a gift Information Release of Promissory Note Provided under agreement with copyright holder, © Nova Publishing Company 2004 This release is intended to be used to release a party from obligations under a P TexasTexas _______________________ (Position) Security Agreement 4 lease Print) __________________________________ (Position) LENDER: ___________________________________________________ (Signature) __________________________________ (Name ­ Please Print) ___________ave caused this Agreement to be executed the day and year first written above. BORROWER: ____________________________________________________ (Signature) ___________________________________ (Name ­ Pconstrued in accordance with the laws of the State of _______________________________. [The remainder of this page intentionally left blank.] Security Agreement 3 IN WITNESS WHEREOF, the parties h_________ ________________________________ Either party may change such addresses from time to time by providing notice as set forth above. 11. GOVERNING LAW: This Agreement shall be governed by and ce, addressed as follows: LENDER: ________________________________ ________________________________ ________________________________ BORROWER: ________________________________ _______________________. NOTICE: Any notice required or otherwise given pursuant to this Agreement shall be in writing and mailed certified return receipt requested, postage prepaid, or delivered by overnight delivery servied invalid or unenforceable by any court of competent jurisdiction, and if limiting such provision would make the provision valid, then such provision shall be deemed to be construed as so limited. 10: If any part or parts of this Agreement shall be held unenforceable for any reason, the remainder of this Agreement shall continue in full force and effect. If any provision of this Agreement is deemsion of this Agreement. Furthermore, no waiver by Lender of any default shall operate as a waiver of any other default or the same default on a future occasion. Security Agreement 2 9. SEVERABILITYilure of either party to enforce any provisions of this Agreement shall not be deemed a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every proviof the Parties. 7. CUMULATIVE RIGHTS: The Parties' rights under this Agreement are cumulative, and shall not be construed as exclusive of each other unless otherwise required by law. 8. WAIVER: The faull of the Note. 6. BINDING EFFECT: The covenants and conditions contained in this Agreement shall apply to and bind the Parties and the heirs, legal representatives, successors and permitted assigns an; and (c) any surplus to Borrower, in accordance with the UCC or as a court of competent jurisdiction may direct. 5. TERMINATION: This Agreement shall terminate upon the payment and performance in f priorities: (a) any reasonable costs, fees, or expenses, of Lender made in connection with the sale/disposition of the Collateral; (b) to Lender in an amount equal to any unpaid obligations of the Loa mutually convenient location, which Lender shall reasonably select. The proceeds of any sale or disposition of any part of the Collateral shall be distributed by the Lender in the following order of the foregoing, Grantor expressly agrees that in any such default Lender may take immediate and exclusive possession of the Collateral. Lender may require Borrower to make the Collateral available in the Loan secured by this Agreement, immediately due and payable and shall have all the rights and remedies of a Lender under the Uniform Commercial Code (the "UCC"). Without limiting the generality ofcy, an assignment for the benefit of creditors or the institution of bankruptcy proceedings, whether voluntary or involuntary. 4. REMEDIES: Upon default and at any time thereafter, Lender may declare yment or performance of the Note, (b) any material breach by Borrower of any warranty, representation, or covenant in this Agreement, (c) dissolution, termination of existence, declaration of insolvenble time. (j) Borrower will promptly pay all taxes and assessments due on the Collateral. 3. DEFAULT: Borrower shall be in default under this Agreement upon any of the following: (a) default in the panotice to Lender. (i) Borrower will make all necessary repairs and improvements to ensure that the Collateral remain in good working order. Lender may examine and inspect the Collateral at any reasonathe Borrower and Lender as their interest appear. The policies shall further provide that the Lender's interest in those policies will not be invalidated without at least ten (10) days prior, written maintain applicable insurance at all times with respect to Collateral against the risk of fire, theft and other such risks and in such amounts as Lender may require. The policies shall be payable to erest. (g) Borrower will not change its principal residence or principal place of business without giving Lender at least seven (7) days prior written notice. Security Agreement 1 (h) Borrower willother security interest or lien on the Collateral. (f) Borrower, upon Lender's request, will execute any financing statement or other document necessary to perfect or otherwise record the security intgal and equitable owner of the Collateral. (d) No other security agreement, financing statement, or other security instrument covering the Collateral exists. (e) Borrower will not create or allow any spose or otherwise transfer the Collateral or any interest in the Collateral without prior written consent from the Lender. (c) Except for the security interest granted above, Borrower is the sole, leepresents and warrants that: (a) The Collateral will be kept at ______________________________________ and will not be removed except in the ordinary course of business. (b) Borrower will not sell, diribe the Collateral. The description must be specific enough to clearly identify the property or the security interest will be invalid.] 2. REPRESENTATIONS, WARRANTIES AND COVENANTS: Borrower hereby r_________________________________________ ________________________________________________________________________ ________________________________________________________________________ [Please desc______________________ ________________________________________________________________________ ________________________________________________________________________ _______________________________grants to Lender a security interest in all of Borrower's rights, title and interest in the following (collectively referred to as the "Collateral"): __________________________________________________er executes and delivers this Agreement. Now, Therefore, Borrower hereby represents, warrants and agrees as follows: 1. GRANT: As security for the payment and performance of the Note, Borrower hereby Borrower (the "Loan") as evidenced by that certain Promissory Note dated ___________________, 20__ (the "Note"), and Whereas, Lender is willing to make the Loan, but only upon a condition that Borrow_________________________ ("Borrower") and _______________________________________ ("Lender") (collectively referred to as the "Parties"). Whereas, Lender has or will make certain advances of money to___________ (Position, if applicable) Promissory Note 2 SECURITY AGREEMENT This Security Agreement (the "Agreement") is dated as of ________________________, 20____, by and between ________________ State of _______________________________. BORROWER: ____________________________________________________ (Signature) ___________________________________ (Name ­ Please Print) __________________________ Either party may change such addresses from time to time by providing notice as set forth above. 12. GOVERNING LAW: This Note shall be governed by and construed in accordance with the laws of the___ _____________________________________ _____________________________________ BORROWER: _____________________________________ _____________________________________ __________________________________is Note shall be in writing and mailed certified return receipt requested, postage prepaid, or delivered by overnight delivery service, addressed as follows: LENDER: __________________________________ion, and if limiting such provision would make the provision valid, then such provision shall be deemed to be construed as so limited. 11. NOTICE: Any notice required or otherwise given pursuant to thd unenforceable for any reason, the remainder of this Note shall continue in full force and effect. If any provision of this Note is deemed invalid or unenforceable by any court of competent jurisdicturthermore, no waiver by Lender of any default shall operate as a waiver of any other default or the same default on a future occasion. 10. SEVERABILITY: If any part or parts of this Note shall be helf the Lender to enforce any part of this note shall not be deemed a waiver or limitation of the Lender's right to subsequently enforce and compel strict compliance with every provision of this Note. Fassigns. 8. CUMULATIVE RIGHTS: The parties' rights under this Agreement are cumulative, and shall not be construed as exclusive of each other unless otherwise required by law. 9. WAIVER: The failure o reasonably attorney's fees. 7. BINDING EFFECT: The covenants and conditions contained in this Note shall apply to and bind the Borrower and its heirs, legal representatives, successors and permitted ollection or enforcement, or if it is collected or enforced through probate, bankruptcy, or other judicial proceeding, then Borrower shall pay Lender all costs of collection and enforcement, includingthis Note immediately due pursuant to applicable law. Promissory Note 1 In the event the Note shall be in default and given to an attorney for collection or enforcement, or if suit is brought for cismissed within 30 days), or (e) any default as described in the Security Agreement. Upon the occurrence of any default Lender may declare the unpaid principal of the Loan and all accrued interest on rrower files for relief under bankruptcy laws or any other laws for the benefit of creditors, (d) an involuntary petition is filed against Borrower under any bankruptcy laws (unless such petition is dault under this Note upon any of the following: (a) failing to timely pay any principal amount due after demand is made, (b) Borrower dissolves, terminates its existence, or declares insolvency (c) Boder of this Note and must be made in United States funds. 5. SECURITY: This Note is secured by the Collateral described in the Security Agreement. 6. DEFAULT AND ACCELERATION: Borrower shall be in defo accrued interest and the balance to the outstanding principal of the Loan. 4. PAYMENT LOCATION: All payments hereunder shall be made to such address as may from time to time be designated by any hol__________ percent (__%) or the maximum rate permissible by law, whichever is less. 3. PREPAYMENT: Borrower may prepay this Note in whole or in part, without penalty. Payments shall be applied first til the full amount of this Note is paid in full. 2. INTEREST: The annual interest rate on the outstanding principal amount of the Loan from the date hereof until payment of the Note in full shall be _l be paid in monthly installments of $____________, with the first payment beginning on _______________, 20____ and continuing every month thereafter with a like amount on the same date each month untonal rights and obligations of Lender are set forth in the Security Agreement. _______, 20__ 1. REPAYMENT: The outstanding principal amount of the Loan and accrued interest, as described below, shalis executed and delivered in connection with that certain Security Agreement dates as of _______________________, 20____, and executed by Borrower in favor of Lender (the "Security Agreement"). Additi________________________ ($_________________) (the "Loan") together with any accrued and unpaid interest thereon in the manner described below. This Promissory Note (the "Note") is referred to in and ert location] For value received, the undersigned ("Borrower"), hereby promises to pay to the order of ____________________________________ ("Lender"), the principal sum of ___________________________consult with your attorney to ensure that it adequately addresses your specific situation. SECURED INSTALLMENT PROMISSORY NOTE $___________________________ [insert loan amount] _________________ [ins etc.), therefore both the Lender and Borrower should become familiar with the laws of their state before entering into these types of agreements. In addition, before using the form you should always ry notes, security agreements and security interests are governed by state law. Many of the state laws differ considerably (e.g. regarding rules of perfecting a security interest, usury interest laws,security interest typically involves filing a public notice with the secretary of state. Check your local laws to determine what steps you will need to take to perfect your security interest. Promissot to the public. This gives the Lender rights in the collateral that are superior to any other third party's rights. In other words, the Lender will have first dibs on the collateral. Perfection of a collateral. In addition to entering into a security agreement, a Lender may want to "perfect" his security interest. "Perfecting a security interest" is basically giving notice of the security interesith a security interest, as memorialized in the security agreement, the Lender should not have to stand in line with the other creditors, but rather should be able to take immediate possession of the Third, in case of default, the Lender should not have to go to court to collect. The security agreement gives him immediate rights in the property. And finally, if the Borrower declares bankruptcy, wateral. Second, it may help the Lender prove that he has a priority in the collateral (i.e. no other creditors or lenders have a right to it or that the Lender's right is superior to other creditors).greement sets out the rights of the Lender with regard to the collateral. A security agreement will benefit the Lender in a number of ways. First, it will specify what property is included in the collthe Borrower fails to repay the loan. To ensure that that collateral is collectible in the case of a default, the parties will usually enter into another agreement-- a security agreement. A security asory note will set forth, among other things, the repayment schedule, the interest rate, and defaults. Often the Lender will want some additional assurance, usually in the form of collateral, in case romissory note (a monthly-installment promissory note) the Borrower promises to repay the principal of the loan and accrued interest, if any, over a period time in equal monthly installments. A promisomissory Note and Security Agreement When a person or entity ("Lender") loans money to another person or entity ("Borrower"), the loan is typically formalized with a promissory note. In this type of pefore negotiating any document with another party. The purchase and use of these forms is subject to the "Disclaimers and Terms of Use" found at findlegalforms.com. Information Secured Installment Prould only be a starting point for you and should not be used or signed before first consulting with an attorney to ensure that they address your particular situation. An attorney should be consulted brity interests vary from time to time and from state to state (e.g. usury laws, filing requirements, etc.). These forms are not intended to be and are not a substitute for legal advice. These forms shes, the security agreement may need to be "perfected." To perfect a security agreement, the filing of a public notice is usually required. Laws regarding promissory notes, security agreements and secugh, it will be considered usury and invalid. Check with a local bank to determine the market, commercial interest rate. To ensure that the lender's security interest is given priority over third partithe original Promissory Note and should then sign and date it. The original Promissory Note should then be given back to the Borrower. Be careful when choosing an interest rate. If your rate is too hithe Borrower. When the borrower's obligations under the Note are satisfied (i.e. the Note is paid off), the lender should write "Cancelled", "Satisfied in Full" or "Paid in Full" on the front face of ly one Note should be signed (signing two copies of the Note could evidence the creation of two Notes). The original Note should be held by the Lender and a copy of the signed note should be given to (the person or entity loaning the money) must sign the Agreement; however, only the borrower must sign the Note. Two copies of the Agreement should be signed so that each party has an original, but onhe Security Agreement (the "Agreement"); (2) Information about the Note and Agreement; (3) the Note; and (4) the Agreement. Both the borrower (the person or entity borrowing the money) and the lender Instructions & Checklist Secured Installment Promissory Note and Security Agreement This package contains: (1) Instructions and Checklist for the Secured Installment Promissory Note (the "Note") and t TexasTexas Agreement 4 ___ (Position) LENDER: ___________________________________________________ (Signature) __________________________________ (Name ­ Please Print) __________________________________ (Position) Security day and year first written above. BORROWER: ____________________________________________________ (Signature) ___________________________________ (Name ­ Please Print) _______________________________ State of _______________________________. [The remainder of this page intentionally left blank.] Security Agreement 3 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed theEither party may change such addresses from time to time by providing notice as set forth above. 11. GOVERNING LAW: This Agreement shall be governed by and construed in accordance with the laws of the______________________ ________________________________ ________________________________ BORROWER: ________________________________ ________________________________ ________________________________ iven pursuant to this Agreement shall be in writing and mailed certified return receipt requested, postage prepaid, or delivered by overnight delivery service, addressed as follows: LENDER: __________competent jurisdiction, and if limiting such provision would make the provision valid, then such provision shall be deemed to be construed as so limited. 10. NOTICE: Any notice required or otherwise gll be held unenforceable for any reason, the remainder of this Agreement shall continue in full force and effect. If any provision of this Agreement is deemed invalid or unenforceable by any court of er by Lender of any default shall operate as a waiver of any other default or the same default on a future occasion. Security Agreement 2 9. SEVERABILITY: If any part or parts of this Agreement shaons of this Agreement shall not be deemed a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Agreement. Furthermore, no waivrties' rights under this Agreement are cumulative, and shall not be construed as exclusive of each other unless otherwise required by law. 8. WAIVER: The failure of either party to enforce any provisinants and conditions contained in this Agreement shall apply to and bind the Parties and the heirs, legal representatives, successors and permitted assigns of the Parties. 7. CUMULATIVE RIGHTS: The Pardance with the UCC or as a court of competent jurisdiction may direct. 5. TERMINATION: This Agreement shall terminate upon the payment and performance in full of the Note. 6. BINDING EFFECT: The cove or expenses, of Lender made in connection with the sale/disposition of the Collateral; (b) to Lender in an amount equal to any unpaid obligations of the Loan; and (c) any surplus to Borrower, in acco shall reasonably select. The proceeds of any sale or disposition of any part of the Collateral shall be distributed by the Lender in the following order of priorities: (a) any reasonable costs, fees,t in any such default Lender may take immediate and exclusive possession of the Collateral. Lender may require Borrower to make the Collateral available in a mutually convenient location, which Lenderely due and payable and shall have all the rights and remedies of a Lender under the Uniform Commercial Code (the "UCC"). Without limiting the generality of the foregoing, Grantor expressly agrees thars or the institution of bankruptcy proceedings, whether voluntary or involuntary. 4. REMEDIES: Upon default and at any time thereafter, Lender may declare the Loan secured by this Agreement, immediatterial breach by Borrower of any warranty, representation, or covenant in this Agreement, (c) dissolution, termination of existence, declaration of insolvency, an assignment for the benefit of credito taxes and assessments due on the Collateral. 3. DEFAULT: Borrower shall be in default under this Agreement upon any of the following: (a) default in the payment or performance of the Note, (b) any ma necessary repairs and improvements to ensure that the Collateral remain in good working order. Lender may examine and inspect the Collateral at any reasonable time. (j) Borrower will promptly pay allpear. The policies shall further provide that the Lender's interest in those policies will not be invalidated without at least ten (10) days prior, written notice to Lender. (i) Borrower will make allwith respect to Collateral against the risk of fire, theft and other such risks and in such amounts as Lender may require. The policies shall be payable to the Borrower and Lender as their interest apcipal residence or principal place of business without giving Lender at least seven (7) days prior written notice. Security Agreement 1 (h) Borrower will maintain applicable insurance at all times teral. (f) Borrower, upon Lender's request, will execute any financing statement or other document necessary to perfect or otherwise record the security interest. (g) Borrower will not change its prind) No other security agreement, financing statement, or other security instrument covering the Collateral exists. (e) Borrower will not create or allow any other security interest or lien on the Collar any interest in the Collateral without prior written consent from the Lender. (c) Except for the security interest granted above, Borrower is the sole, legal and equitable owner of the Collateral. (ral will be kept at ______________________________________ and will not be removed except in the ordinary course of business. (b) Borrower will not sell, dispose or otherwise transfer the Collateral o specific enough to clearly identify the property or the security interest will be invalid.] 2. REPRESENTATIONS, WARRANTIES AND COVENANTS: Borrower hereby represents and warrants that: (a) The Collate______________________________________________________________________ ________________________________________________________________________ [Please describe the Collateral. The description must be___________________________________________________ ________________________________________________________________________ ________________________________________________________________________ __of Borrower's rights, title and interest in the following (collectively referred to as the "Collateral"): ________________________________________________________________________ _____________________, Therefore, Borrower hereby represents, warrants and agrees as follows: 1. GRANT: As security for the payment and performance of the Note, Borrower hereby grants to Lender a security interest in all certain Promissory Note dated ___________________, 20__ (the "Note"), and Whereas, Lender is willing to make the Loan, but only upon a condition that Borrower executes and delivers this Agreement. Now______________________________________ ("Lender") (collectively referred to as the "Parties"). Whereas, Lender has or will make certain advances of money to Borrower (the "Loan") as evidenced by that ssory Note 2 SECURITY AGREEMENT This Security Agreement (the "Agreement") is dated as of ________________________, 20____, by and between _________________________________________ ("Borrower") and _ORROWER: ____________________________________________________ (Signature) ___________________________________ (Name ­ Please Print) __________________________________ (Position, if applicable) Promirom time to time by providing notice as set forth above. 12. GOVERNING LAW: This Note shall be governed by and construed in accordance with the laws of the State of _______________________________. B__________________________________ BORROWER: _____________________________________ _____________________________________ _____________________________________ Either party may change such addresses fied return receipt requested, postage prepaid, or delivered by overnight delivery service, addressed as follows: LENDER: _____________________________________ _____________________________________ ___e the provision valid, then such provision shall be deemed to be construed as so limited. 11. NOTICE: Any notice required or otherwise given pursuant to this Note shall be in writing and mailed certif of this Note shall continue in full force and effect. If any provision of this Note is deemed invalid or unenforceable by any court of competent jurisdiction, and if limiting such provision would makt shall operate as a waiver of any other default or the same default on a future occasion. 10. SEVERABILITY: If any part or parts of this Note shall be held unenforceable for any reason, the remainder shall not be deemed a waiver or limitation of the Lender's right to subsequently enforce and compel strict compliance with every provision of this Note. Furthermore, no waiver by Lender of any defaulights under this Agreement are cumulative, and shall not be construed as exclusive of each other unless otherwise required by law. 9. WAIVER: The failure of the Lender to enforce any part of this noteT: The covenants and conditions contained in this Note shall apply to and bind the Borrower and its heirs, legal representatives, successors and permitted assigns. 8. CUMULATIVE RIGHTS: The parties' re 1 enforced through probate, bankruptcy, or other judicial proceeding, then Borrower shall pay Lender all costs of collection and enforcement, including reasonably attorney's fees. 7. BINDING EFFECble law. In the event the Note shall be in default and given to an attorney for collection or enforcement, or if suit is brought for collection or enforcement, or if it is collected or Promissory Notas described in the Security Agreement. Upon the occurrence of any default Lender may declare the unpaid principal of the Loan and all accrued interest on this Note immediately due pursuant to applica or any other laws for the benefit of creditors, (d) an involuntary petition is filed against Borrower under any bankruptcy laws (unless such petition is dismissed within 30 days), or (e) any default g: (a) failing to timely pay any principal amount due after demand is made, (b) Borrower dissolves, terminates its existence, or declares insolvency (c) Borrower files for relief under bankruptcy lawstates funds. 5. SECURITY: This Note is secured by the Collateral described in the Security Agreement. 6. DEFAULT AND ACCELERATION: Borrower shall be in default under this Note upon any of the followinstanding principal of the Loan. 4. PAYMENT LOCATION: All payments hereunder shall be made to such address as may from time to time be designated by any holder of this Note and must be made in United Spermissible by law, whichever is less. 3. PREPAYMENT: Borrower may prepay this Note in whole or in part, without penalty. Payments shall be applied first to accrued interest and the balance to the out__. 2. INTEREST: The annual interest rate on the outstanding principal amount of the Loan from the date hereof until payment of the Note in full shall be ___________ percent (__%) or the maximum rate h in the Security Agreement. _______, 20__ 1. REPAYMENT: The outstanding principal amount of the Loan and any accrued interest thereon shall be due and payable to Lender on _____________________, 20certain Security Agreement dates as of _______________________, 20____, and executed by Borrower in favor of Lender (the "Security Agreement"). Additional rights and obligations of Lender are set fort "Loan") together with any accrued and unpaid interest thereon in the manner described below. This Promissory Note (the "Note") is referred to in and is executed and delivered in connection with that ("Borrower"), hereby promises to pay to the order of ____________________________________ ("Lender"), the principal sum of ___________________________________________________ ($_________________) (thet adequately addresses your specific situation. SECURED TERM PROMISSORY NOTE $___________________________ [insert loan amount] _________________ [insert location] For value received, the undersigned wer should become familiar with the laws of their state before entering into these types of agreements. In addition, before using the form you should always consult with your attorney to ensure that iinterests are governed by state law. Many of the state laws differ considerably (e.g. regarding rules of perfecting a security interest, usury interest laws, etc.), therefore both the Lender and Borro a public notice with the secretary of state. Check your local laws to determine what steps you will need to take to perfect your security interest. Promissory notes, security agreements and security ts in the collateral that are superior to any other third party's rights. In other words, the Lender will have first dibs on the collateral. Perfection of a security interest typically involves filingsecurity agreement, a Lender may want to "perfect" his security interest. "Perfecting a security interest" is basically giving notice of the security interest to the public. This gives the Lender righ the security agreement, the Lender should not have to stand in line with the other creditors, but rather should be able to take immediate possession of the collateral. In addition to entering into a ld not have to go to court to collect. The security agreement gives him immediate rights in the property. And finally, if the Borrower declares bankruptcy, with a security interest, as memorialized ine that he has a priority in the collateral (i.e. no other creditors or lenders have a right to it or that the Lender's right is superior to other creditors). Third, in case of default, the Lender shouwith regard to the collateral. A security agreement will benefit the Lender in a number of ways. First, it will specify what property is included in the collateral. Second, it may help the Lender provsure that that collateral is collectible in the case of a default, the parties will usually enter into another agreement-- a security agreement. A security agreement sets out the rights of the Lender s, the repayment schedule, the interest rate, and defaults. Often the Lender will want some additional assurance, usually in the form of collateral, in case the Borrower fails to repay the loan. To enm promissory note) the Borrower promises to repay the principal of the loan and accrued interest, if any, on or before a certain date in the future. A promissory note will set forth, among other thingurity Agreement When a person or entity ("Lender") loans money to another person or entity ("Borrower"), the loan is typically formalized with a promissory note. In this type of promissory note (a tering any document with another party. The purchase and use of these forms is subject to the "Disclaimers and Terms of Use" found at findlegalforms.com. Information Secured Term Promissory Note and Sec starting point for you and should not be used or signed before first consulting with an attorney to ensure that they address your particular situation. An attorney should be consulted before negotiat vary from time to time and from state to state (e.g. usury laws, filing requirements, etc.). These forms are not intended to be and are not a substitute for legal advice. These forms should only be aty agreement may need to be "perfected." To perfect a security agreement, the filing of a public notice is usually required. Laws regarding promissory notes, security agreements and security interests considered usury and invalid. Check with a local bank to determine the market, commercial interest rate. To ensure that the lender's security interest is given priority over third parties, the securiromissory Note and should then sign and date it. The original Promissory Note should then be given back to the Borrower. Be careful when choosing an interest rate. If your rate is too high, it will beWhen the borrower's obligations under the Note are satisfied (i.e. the Note is paid off), the lender should write "Cancelled", "Satisfied in Full" or "Paid in Full" on the front face of the original Pould be signed (signing two copies of the Note could evidence the creation of two Notes). The original Note should be held by the Lender and a copy of the signed note should be given to the Borrower. entity loaning the money) must sign the Agreement; however, only the borrower must sign the Note. Two copies of the Agreement should be signed so that each party has an original, but only one Note shreement (the "Agreement"); (2) Information about the Note and Agreement; (3) the Note; and (4) the Agreement. Both the borrower (the person or entity borrowing the money) and the lender (the person orInstructions & Checklist Secured Term Promissory Note and Security Agreement This package contains: (1) Instructions and Checklist for the Secured Term Promissory Note (the "Note") and the Security Ag TexasTexas _____________ (Signature) __________________________________ (Name ­ Please Print) __________________________________ (Position) Security Agreement 4 ____________________________________ (Signature) ___________________________________ (Name ­ Please Print) __________________________________ (Position) LENDER: ______________________________________this page intentionally left blank.] Security Agreement 3 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed the day and year first written above. BORROWER: ________________oviding notice as set forth above. 11. GOVERNING LAW: This Agreement shall be governed by and construed in accordance with the laws of the State of _______________________________. [The remainder of __________________________ BORROWER: ________________________________ ________________________________ ________________________________ Either party may change such addresses from time to time by pr certified return receipt requested, postage prepaid, or delivered by overnight delivery service, addressed as follows: LENDER: ________________________________ ________________________________ ______ake the provision valid, then such provision shall be deemed to be construed as so limited. 10. NOTICE: Any notice required or otherwise given pursuant to this Agreement shall be in writing and mailed Agreement shall continue in full force and effect. If any provision of this Agreement is deemed invalid or unenforceable by any court of competent jurisdiction, and if limiting such provision would mate as a waiver of any other default or the same default on a future occasion. 9. SEVERABILITY: If any part or parts of this Agreement shall be held unenforceable for any reason, the remainder of thision of that party's right to subsequently enforce Security Agreement 2 and compel strict compliance with every provision of this Agreement. Furthermore, no waiver by Lender of any default shall opernot be construed as exclusive of each other unless otherwise required by law. 8. WAIVER: The failure of either party to enforce any provisions of this Agreement shall not be deemed a waiver or limitatto and bind the Parties and the heirs, legal representatives, successors and permitted assigns of the Parties. 7. CUMULATIVE RIGHTS: The Parties' rights under this Agreement are cumulative, and shall ay direct. 5. TERMINATION: This Agreement shall terminate upon the payment and performance in full of the Note. 6. BINDING EFFECT: The covenants and conditions contained in this Agreement shall apply osition of the Collateral; (b) to Lender in an amount equal to any unpaid obligations of the Loan; and (c) any surplus to Borrower, in accordance with the UCC or as a court of competent jurisdiction mtion of any part of the Collateral shall be distributed by the Lender in the following order of priorities: (a) any reasonable costs, fees, or expenses, of Lender made in connection with the sale/disp possession of the Collateral. Lender may require Borrower to make the Collateral available in a mutually convenient location, which Lender shall reasonably select. The proceeds of any sale or disposis of a Lender under the Uniform Commercial Code (the "UCC"). Without limiting the generality of the foregoing, Grantor expressly agrees that in any such default Lender may take immediate and exclusivehin thirty (30) days. 4. REMEDIES: Upon default and at any time thereafter, Lender may declare the Loan secured by this Agreement, immediately due and payable and shall have all the rights and remedieon, termination of existence, declaration of insolvency, an assignment for the benefit of creditors or the institution of bankruptcy proceedings, whether voluntary or involuntary, if not dismissed witment upon any of the following: (a) default in the payment or performance of the Note, (b) any material breach by Borrower of any warranty, representation, or covenant in this Agreement, (c) dissolutimay examine and inspect the Collateral at any reasonable time. (j) Borrower will promptly pay all taxes and assessments due on the Collateral. 3. DEFAULT: Borrower shall be in default under this Agreeidated without at least ten (10) days prior, written notice to Lender. (i) Borrower will make all necessary repairs and improvements to ensure that the Collateral remain in good working order. Lender Lender may require. The policies shall be payable to the Borrower and Lender as their interest appear. The policies shall further provide that the Lender's interest in those policies will not be invaleven (7) days prior written notice. (h) Borrower will maintain applicable insurance at all times with respect to Collateral against the risk of fire, theft and other such risks and in such amounts as t or other document necessary to perfect or otherwise record the security interest. (g) Borrower will not change its principal residence or principal place of business without giving Lender at least sal exists. (e) Borrower will not create or allow any other security interest or lien on the Collateral. Security Agreement 1 (f) Borrower, upon Lender's request, will execute any financing statemenrity interest granted above, Borrower is the sole, legal and equitable owner of the Collateral. (d) No other security agreement, financing statement, or other security instrument covering the Collaterry course of business. (b) Borrower will not sell, dispose or otherwise transfer the Collateral or any interest in the Collateral without prior written consent from the Lender. (c) Except for the secuNTATIONS, WARRANTIES AND COVENANTS: Borrower hereby represents and warrants that: (a) The Collateral will be kept at ______________________________________ and will not be removed except in the ordina________________________________________ [Please describe the Collateral. The description must be specific enough to clearly identify the property or the security interest will be invalid.] 2. REPRESE_____________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________): ________________________________________________________________________ ________________________________________________________________________ ___________________________________________________payment and performance of the Note, Borrower hereby grants to Lender a security interest in all of Borrower's rights, title and interest in the following (collectively referred to as the "Collateral"o make the Loan, but only upon a condition that Borrower executes and deliver this Agreement. Now, Therefore, Borrower hereby represents, warrants and agrees as follows: 1. GRANT: As security for the , Lender has or will make certain advances of money to Borrower (the "Loan") as evidenced by that certain Promissory Note dated ___________________, 20__ (the "Note"), and Whereas, Lender is willing t____________________________ and _______________________________________ ("Lender") residing at __________ ________________________________________ (collectively referred to as the "Parties"). WhereasENT This Security Agreement (the "Agreement") is dated as of ________________________, 20____, by and between _________________________________________ ("Borrower") residing at _______________________________________________________ (Signature) ___________________________________ (Name ­ Please Print) __________________________________ (Position, if applicable) Promissory Note 4 SECURITY AGREEMnotice as set forth above. 12. GOVERNING LAW: This Note shall be governed by and construed in accordance with the laws of the State of _______________________________. BORROWER: _____________________________________________ BORROWER: ______________________________ ______________________________ ______________________________ Either party may change such addresses from time to time by providing certified return receipt requested, postage prepaid, or delivered by overnight delivery service, addressed as follows: LENDER: ________________________________ ________________________________ _______ valid, then such provision shall be deemed to be construed as so limited. Promissory Note 3 11. NOTICE: Any notice required or otherwise given pursuant to this Note shall be in writing and mailed hall continue in full force and effect. If any provision of this Note is deemed invalid or unenforceable by any court of competent jurisdiction, and if limiting such provision would make the provision as a waiver of any other default or the same default on a future occasion. 10. SEVERABILITY: If any part or parts of this Note shall be held unenforceable for any reason, the remainder of this Note seemed a waiver or limitation of the Lender's right to subsequently enforce and compel strict compliance with every provision of this Note. Furthermore, no waiver by Lender of any default shall operates Agreement are cumulative, and shall not be construed as exclusive of each other unless otherwise required by law. 9. WAIVER: The failure of the Lender to enforce any part of this note shall not be ds and conditions contained in this Note shall apply to and bind the Borrower and its heirs, legal representatives, successors and permitted assigns. 8. CUMULATIVE RIGHTS: The parties' rights under thithrough probate, bankruptcy, or other judicial proceeding, then Borrower shall pay Lender all costs of collection and enforcement, including reasonably attorney's fees. 7. BINDING EFFECT: The covenantpplicable law. In the event the Note shall be in default and given to an attorney for collection or enforcement, or if suit is brought for collection or enforcement, or if it is collected or enforced fault as described in the Security Agreement. Upon the occurrence of any default Lender may declare the unpaid principal of the Loan and all accrued interest on this Note immediately due pursuant to ay laws or any other laws for the benefit of creditors, (d) an involuntary petition is filed against Borrower under any bankruptcy laws (unless such petition is dismissed within 30 days), or (e) any dellowing: (a) failing to timely pay any principal amount due after demand is made, (b) Borrower dissolves, terminates its existence, or declares insolvency (c) Borrower files for relief under bankruptc SECURITY: This Note is secured by the Collateral described in the Security Agreement. Promissory Note 2 6. DEFAULT AND ACCELERATION: Borrower shall be in default under this Note upon any of the fopal of the Loan. 4. PAYMENT LOCATION: All payments hereunder shall be made to such address as may from time to time be designated by any holder of this Note and must be made in United States funds. 5.commercial loan rates]. 3. PREPAYMENT: Borrower may prepay this Note in whole or in part, without penalty. Payments shall be applied first to accrued interest and the balance to the outstanding princirly/annually/ with the final payment amount as described in Section 1] [choose one]. [When choosing an interest rate consider tax and usury issues. You can check with a local bank to determine market om the date hereof until payment of the Note in full shall be ___________ percent (__%) or the maximum rate permissible by law, whichever is less. The interest shall be due and payable [monthly/quarteh thereafter with a like amount on the same date each month until the full amount of this note is paid in full. 2. INTEREST: The annual interest rate on the outstanding principal amount of the Loan frhe following] The outstanding principal amount of the Loan shall be paid in monthly installments of $____________, with the first payment beginning on _______________, 20____ and continuing every mont_____________ $______________________ $______________________ $______________________ $______________________ $______________________ [If the Loan is to be repaid in equal monthly installments, use t _________________, 20_______ _________________, 20_______ _________________, 20_______ _________________, 20_______ _________________, 20_______ _________________, 20_______ Payment Amount $_________use the following. If there are more than six payment dates, copy additional line.] The outstanding principal amount of the Loan is to be paid to the Lender in the following installments: Payment Datetanding principal amount of the Loan and any accrued interest thereon shall be due and payable to Lender on _____________________, 20__. Promissory Note 1 [If the Loan is to be paid on a schedule, ision below to reflect the agreed upon repayment schedule. CHOOSE ONE] 1. REPAYMENT: [If the Loan will come due on a specific date, and the entire Loan repaid at that time--use the following] The outs_________________, 20____, and executed by Borrower in favor of Lender (the "Security Agreement"). Additional rights and obligations of Lender are set forth in the Security Agreement. [Alter the prov interest thereon in the manner described below. This Promissory Note (the "Note") is referred to in and is executed and delivered in connection with that certain Security Agreement dates as of ______rder of ____________________________________ ("Lender"), the principal sum of ___________________________________________________ ($_________________) (the "Loan") together with any accrued and unpaid___________________ $___________________________ [insert loan amount] _______, 20__ _____________ [insert location] For value received, the undersigned ("Borrower"), hereby promises to pay to the o________ ________________________________ ________________________________ BORROWER: [insert BORROWER name and address] ________________________________ ________________________________ _____________torney to ensure that it adequately addresses your specific situation. SECURED PROMISSORY NOTE This agreement is made by and between: LENDER: [insert LENDER name and address] ________________________th the Lender and Borrower should become familiar with the laws of their state before entering into these types of agreements. In addition, before using the form you should always consult with your atgreements and security interests are governed by state law. Many of the state laws differ considerably (e.g. regarding rules of perfecting a security interest, usury interest laws, etc.), therefore bopically involves filing a public notice with the secretary of state. Check your local laws to determine what steps you will need to take to perfect your security interest. Promissory notes, security as gives the Lender rights in the collateral that are superior to any other third party's rights. In other words, the Lender will have first dibs on the collateral. Perfection of a security interest tyion to entering into a security agreement, a Lender may want to "perfect" his security interest. "Perfecting a security interest" is basically giving notice of the security interest to the public. Thiest, as memorialized in the security agreement, the Lender should not have to stand in line with the other creditors, but rather should be able to take immediate possession of the collateral. In additefault, the Lender should not have to go to court to collect. The security agreement gives him immediate rights in the property. And finally, if the Borrower declares bankruptcy, with a security interay help the Lender prove that he has a priority in the collateral (i.e. no other creditors or lenders have a right to it or that the Lender's right is superior to other creditors). Third, in case of de rights of the Lender with regard to the collateral. A security agreement will benefit the Lender in a number of ways. First, it will specify what property is included in the collateral. Second, it mo repay the loan. To ensure that that collateral is collectible in the case of a default, the parties will usually enter into another agreement-- a security agreement. A security agreement sets out thorth, among other things, the repayment schedule, the interest rate, and defaults. Often the Lender will want some additional assurance, usually in the form of collateral, in case the Borrower fails t Borrower promises to repay the principal of the loan over a period time or on some future date. In addition, the Borrower may also agree to pay interest on the principal. A promissory note will set fand Security Agreement When a person or entity ("Lender") loans money to another person or entity ("Borrower"), the loan is typically formalized with a promissory note. In this type of instrument, thenegotiating any document with another party. [_] The purchase and use of these forms is subject to the "Disclaimers and Terms of Use" found at findlegalforms.com. Information Secured Promissory Note nly be a starting point for you and should not be used or signed before first consulting with an attorney to ensure that they address your particular situation. An attorney should be consulted before nterests vary from time to time and from state to state (e.g. usury laws, filing requirements, etc.). These forms are not intended to be and are not a substitute for legal advice. These forms should ocurity agreement may need to be "perfected." To perfect a security agreement, the filing of a public notice is usually required. [_] Laws regarding promissory notes, security agreements and security i considered usury and invalid. Check with a local bank to determine the market, commercial interest rate. [_] To ensure that the lender's security interest is given priority over third parties, the sessory Note and should then sign and date it. The original Promissory Note should then be given back to the Borrower. [_] Be careful when choosing an interest rate. If your rate is too high, it will be the borrower's obligations under the Note are satisfied (i.e. the Note is paid off), the lender should write "Cancelled", "Satisfied in Full" or "Paid in Full" on the front face of the original Promild be signed (signing two copies of the Note could evidence the creation of two Notes). The lender should hold the original Note and a copy of the signed note should be given to the borrower. [_] Whenntity loaning the money) must sign the Agreement; however, only the borrower must sign the Note. Two copies of the Agreement should be signed so that each party has an original, but only one Note shout (the "Agreement"); (2) Information about the Note and Agreement; (3) the Note; and (4) the Agreement. [_] Both the borrower (the person or entity borrowing the money) and the lender (the person or eInstructions & Checklist Secured Promissory Note and Security Agreement [_] This package contains: (1) Instructions and Checklist for the Secured Promissory Note (the "Note") and the Security Agreemen TexasTexas eement 4 (Position) LENDER: ___________________________________________________ (Signature) __________________________________ (Name ­ Please Print) __________________________________ (Position) Security Agr and year first written above. BORROWER: ____________________________________________________ (Signature) ___________________________________ (Name ­ Please Print) __________________________________ te of _______________________________. [The remainder of this page intentionally left blank.] Security Agreement 3 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed the dayer party may change such addresses from time to time by providing notice as set forth above. 11. GOVERNING LAW: This Agreement shall be governed by and construed in accordance with the laws of the Sta__________________ ________________________________ ________________________________ BORROWER: ________________________________ ________________________________ ________________________________ Eith pursuant to this Agreement shall be in writing and mailed certified return receipt requested, postage prepaid, or delivered by overnight delivery service, addressed as follows: LENDER: ______________etent jurisdiction, and if limiting such provision would make the provision valid, then such provision shall be deemed to be construed as so limited. 10. NOTICE: Any notice required or otherwise givene held unenforceable for any reason, the remainder of this Agreement shall continue in full force and effect. If any provision of this Agreement is deemed invalid or unenforceable by any court of compy Lender of any default shall operate as a waiver of any other default or the same default on a future occasion. Security Agreement 2 9. SEVERABILITY: If any part or parts of this Agreement shall bof this Agreement shall not be deemed a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Agreement. Furthermore, no waiver bs' rights under this Agreement are cumulative, and shall not be construed as exclusive of each other unless otherwise required by law. 8. WAIVER: The failure of either party to enforce any provisions s and conditions contained in this Agreement shall apply to and bind the Parties and the heirs, legal representatives, successors and permitted assigns of the Parties. 7. CUMULATIVE RIGHTS: The Partiece with the UCC or as a court of competent jurisdiction may direct. 5. TERMINATION: This Agreement shall terminate upon the payment and performance in full of the Note. 6. BINDING EFFECT: The covenantexpenses, of Lender made in connection with the sale/disposition of the Collateral; (b) to Lender in an amount equal to any unpaid obligations of the Loan; and (c) any surplus to Borrower, in accordanll reasonably select. The proceeds of any sale or disposition of any part of the Collateral shall be distributed by the Lender in the following order of priorities: (a) any reasonable costs, fees, or any such default Lender may take immediate and exclusive possession of the Collateral. Lender may require Borrower to make the Collateral available in a mutually convenient location, which Lender shadue and payable and shall have all the rights and remedies of a Lender under the Uniform Commercial Code (the "UCC"). Without limiting the generality of the foregoing, Grantor expressly agrees that inr the institution of bankruptcy proceedings, whether voluntary or involuntary. 4. REMEDIES: Upon default and at any time thereafter, Lender may declare the Loan secured by this Agreement, immediately al breach by Borrower of any warranty, representation, or covenant in this Agreement, (c) dissolution, termination of existence, declaration of insolvency, an assignment for the benefit of creditors oes and assessments due on the Collateral. 3. DEFAULT: Borrower shall be in default under this Agreement upon any of the following: (a) default in the payment or performance of the Note, (b) any materiessary repairs and improvements to ensure that the Collateral remain in good working order. Lender may examine and inspect the Collateral at any reasonable time. (j) Borrower will promptly pay all tax. The policies shall further provide that the Lender's interest in those policies will not be invalidated without at least ten (10) days prior, written notice to Lender. (i) Borrower will make all nec respect to Collateral against the risk of fire, theft and other such risks and in such amounts as Lender may require. The policies shall be payable to the Borrower and Lender as their interest appearl residence or principal place of business without giving Lender at least seven (7) days prior written notice. Security Agreement 1 (h) Borrower will maintain applicable insurance at all times withl. (f) Borrower, upon Lender's request, will execute any financing statement or other document necessary to perfect or otherwise record the security interest. (g) Borrower will not change its principao other security agreement, financing statement, or other security instrument covering the Collateral exists. (e) Borrower will not create or allow any other security interest or lien on the Collateray interest in the Collateral without prior written consent from the Lender. (c) Except for the security interest granted above, Borrower is the sole, legal and equitable owner of the Collateral. (d) Nwill be kept at ______________________________________ and will not be removed except in the ordinary course of business. (b) Borrower will not sell, dispose or otherwise transfer the Collateral or ancific enough to clearly identify the property or the security interest will be invalid.] 2. REPRESENTATIONS, WARRANTIES AND COVENANTS: Borrower hereby represents and warrants that: (a) The Collateral __________________________________________________________________ ________________________________________________________________________ [Please describe the Collateral. The description must be spe_______________________________________________ ________________________________________________________________________ ________________________________________________________________________ ______orrower's rights, title and interest in the following (collectively referred to as the "Collateral"): ________________________________________________________________________ _________________________erefore, Borrower hereby represents, warrants and agrees as follows: 1. GRANT: As security for the payment and performance of the Note, Borrower hereby grants to Lender a security interest in all of Bain Promissory Note dated ___________________, 20__ (the "Note"), and Whereas, Lender is willing to make the Loan, but only upon a condition that Borrower executes and delivers this Agreement. Now, Th__________________________________ ("Lender") (collectively referred to as the "Parties"). Whereas, Lender has or will make certain advances of money to Borrower (the "Loan") as evidenced by that certy Note 2 SECURITY AGREEMENT This Security Agreement (the "Agreement") is dated as of ________________________, 20____, by and between _________________________________________ ("Borrower") and _____WER: ____________________________________________________ (Signature) ___________________________________ (Name ­ Please Print) __________________________________ (Position, if applicable) Promissortime to time by providing notice as set forth above. 12. GOVERNING LAW: This Note shall be governed by and construed in accordance with the laws of the State of _______________________________. BORRO______________________________ BORROWER: _____________________________________ _____________________________________ _____________________________________ Either party may change such addresses from return receipt requested, postage prepaid, or delivered by overnight delivery service, addressed as follows: LENDER: _____________________________________ _____________________________________ _______e provision valid, then such provision shall be deemed to be construed as so limited. 11. NOTICE: Any notice required or otherwise given pursuant to this Note shall be in writing and mailed certified this Note shall continue in full force and effect. If any provision of this Note is deemed invalid or unenforceable by any court of competent jurisdiction, and if limiting such provision would make thall operate as a waiver of any other default or the same default on a future occasion. 10. SEVERABILITY: If any part or parts of this Note shall be held unenforceable for any reason, the remainder of ll not be deemed a waiver or limitation of the Lender's right to subsequently enforce and compel strict compliance with every provision of this Note. Furthermore, no waiver by Lender of any default shs under this Agreement are cumulative, and shall not be construed as exclusive of each other unless otherwise required by law. 9. WAIVER: The failure of the Lender to enforce any part of this note shahe covenants and conditions contained in this Note shall apply to and bind the Borrower and its heirs, legal representatives, successors and permitted assigns. 8. CUMULATIVE RIGHTS: The parties' right enforced through probate, bankruptcy, or other judicial proceeding, then Borrower shall pay Lender all costs of collection and enforcement, including reasonably attorney's fees. 7. BINDING EFFECT: Tlaw. In the event the Note shall be in default and given to an attorney for collection or enforcement, or if suit is brought for collection or enforcement, or if it is collected or Promissory Note 1escribed in the Security Agreement. Upon the occurrence of any default Lender may declare the unpaid principal of the Loan and all accrued interest on this Note immediately due pursuant to applicable any other laws for the benefit of creditors, (d) an involuntary petition is filed against Borrower under any bankruptcy laws (unless such petition is dismissed within 30 days), or (e) any default as da) failing to timely pay any principal amount due after demand is made, (b) Borrower dissolves, terminates its existence, or declares insolvency (c) Borrower files for relief under bankruptcy laws or s funds. 5. SECURITY: This Note is secured by the Collateral described in the Security Agreement. 6. DEFAULT AND ACCELERATION: Borrower shall be in default under this Note upon any of the following: (ding principal of the Loan. 4. PAYMENT LOCATION: All payments hereunder shall be made to such address as may from time to time be designated by any holder of this Note and must be made in United Stateissible by law, whichever is less. 3. PREPAYMENT: Borrower may prepay this Note in whole or in part, without penalty. Payments shall be applied first to accrued interest and the balance to the outstan2. INTEREST: The annual interest rate on the outstanding principal amount of the Loan from the date hereof until payment of the Note in full shall be ___________ percent (__%) or the maximum rate permh in the Security Agreement. _______, 20__ 1. REPAYMENT: The outstanding principal amount of the Loan and any accrued interest shall be fully due and payable UPON DEMAND of any holder of this Note. certain Security Agreement dates as of _______________________, 20____, and executed by Borrower in favor of Lender (the "Security Agreement"). Additional rights and obligations of Lender are set fort "Loan") together with any accrued and unpaid interest thereon in the manner described below. This Promissory Note (the "Note") is referred to in and is executed and delivered in connection with that ("Borrower"), hereby promises to pay to the order of ____________________________________ ("Lender"), the principal sum of ___________________________________________________ ($_________________) (thehat it adequately addresses your specific situation. SECURED PROMISSORY NOTE $___________________________ [insert loan amount] _________________ [insert location] For value received, the undersigned Borrower should become familiar with the laws of their state before entering into these types of agreements. In addition, before using the form you should always consult with your attorney to ensure trity interests are governed by state law. Many of the state laws differ considerably (e.g. regarding rules of perfecting a security interest, usury interest laws, etc.), therefore both the Lender and iling a public notice with the secretary of state. Check your local laws to determine what steps you will need to take to perfect your security interest. Promissory notes, security agreements and secu rights in the collateral that are superior to any other third party's rights. In other words, the Lender will have first dibs on the collateral. Perfection of a security interest typically involves fto a security agreement, a Lender may want to "perfect" his security interest. "Perfecting a security interest" is basically giving notice of the security interest to the public. This gives the Lendered in the security agreement, the Lender should not have to stand in line with the other creditors, but rather should be able to take immediate possession of the collateral. In addition to entering in should not have to go to court to collect. The security agreement gives him immediate rights in the property. And finally, if the Borrower declares bankruptcy, with a security interest, as memorializ prove that he has a priority in the collateral (i.e. no other creditors or lenders have a right to it or that the Lender's right is superior to other creditors). Third, in case of default, the Lendernder with regard to the collateral. A security agreement will benefit the Lender in a number of ways. First, it will specify what property is included in the collateral. Second, it may help the LenderTo ensure that that collateral is collectible in the case of a default, the parties will usually enter into another agreement-- a security agreement. A security agreement sets out the rights of the Lethings, the repayment schedule, the interest rate, and defaults. Often the Lender will want some additional assurance, usually in the form of collateral, in case the Borrower fails to repay the loan. ory note (an on-demand promissory note) the Borrower promises to repay the loan and accrued interest, if any, at any time upon the request of the Lender. A promissory note will set forth, among other ry Note and Security Agreement When a person or entity ("Lender") loans money to another person or entity ("Borrower"), the loan is typically formalized with a promissory note. In this type of promisse negotiating any document with another party. The purchase and use of these forms is subject to the "Disclaimers and Terms of Use" found at findlegalforms.com. Information Secured On-Demand Promisso only be a starting point for you and should not be used or signed before first consulting with an attorney to ensure that they address your particular situation. An attorney should be consulted befor interests vary from time to time and from state to state (e.g. usury laws, filing requirements, etc.). These forms are not intended to be and are not a substitute for legal advice. These forms shouldthe security agreement may need to be "perfected." To perfect a security agreement, the filing of a public notice is usually required. Laws regarding promissory notes, security agreements and securityit will be considered usury and invalid. Check with a local bank to determine the market, commercial interest rate. To ensure that the lender's security interest is given priority over third parties, original Promissory Note and should then sign and date it. The original Promissory Note should then be given back to the Borrower. Be careful when choosing an interest rate. If your rate is too high, Borrower. When the borrower's obligations under the Note are satisfied (i.e. the Note is paid off), the lender should write "Cancelled", "Satisfied in Full" or "Paid in Full" on the front face of the ne Note should be signed (signing two copies of the Note could evidence the creation of two Notes). The original Note should be held by the Lender and a copy of the signed note should be given to the person or entity loaning the money) must sign the Agreement; however, only the borrower must sign the Note. Two copies of the Agreement should be signed so that each party has an original, but only oecurity Agreement (the "Agreement"); (2) Information about the Note and Agreement; (3) the Note; and (4) the Agreement. Both the borrower (the person or entity borrowing the money) and the lender (theInstructions & Checklist Secured On-Demand Promissory Note and Security Agreement This package contains: (1) Instructions and Checklist for the Secured On-Demand Promissory Note (the "Note") and the S TexasTexas Promissory Note for collection of the entire balance. Very truly, _______________________ Signature _______________________ Name is made upon you for payment of this past-due installment payment. If payment is not received by us within 10 (ten) days from the date of this notice, we will proceed to enforce our rights under the ount of $ _________________________ , of which you are the maker, you have defaulted on the installment payment due on _________________________ , 20 ___ , in the amount of $_________________ . Demandate: _________________________ To: RE: Default on Promissory Note Payment Dear _________________________ : Regarding the Promissory Note dated _________________________ , 20 ____ , in the original amluding negligence or otherwise) arising in any way out of the use of these materials. An attorney should be consulted for all serious legal matters. NOTICE OF DEFAULT ON INSTALLMENT PROMISSORY NOTE Dprocurement of substitute goods or services; loss of use, data, or profits; or business interruption) however caused and on any theory of liability, whether in contract, strict liability, or tort (inc, or ii) the providers, authors or publishers of the forms, be responsible or liable for any direct, indirect, incidental, special, exemplary, or consequential damages (including, but not limited to, , suitability or completeness for any of the materials for your particular needs. The materials are used at your own risk. In no event will: i) FindLegalForms, Inc, its agents, partners, or affiliates these materials is subject to the "Disclaimers and Terms of Use" found at findlegalforms.com. These materials are provided "AS-IS." We do not give any express or implied warranties of merchantability for a suit for breach of promissory note. Disclaimer No Attorney-Client relationship is created by use of these materials. FindLegalForms, Inc. does not provide legal advice. The purchase and use ofnote of their default on an installment payment on a promissory note. Notice of default should be sent promptly to any account which falls behind in their payments on a note. It provides a legal basisInformation Notice of Default on Installment Promissory Note Provided under agreement with copyright holder, © Nova Publishing Company 2004 This form will be used to notify the maker of a promissory Texas