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Utah ______________________. _________________________________ (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 Utah