This Promissory Note (Line of Credit) is between a borrower and a lender who extends a line of credit to the borrower in exchange for monthly payments. This legally binding document sets out the terms of the note including the principal amount, monthly payments and when the note is due and payable. It also sets out the interest rate and contains a prepayment provision. A written Promissory Note is imperative in any situation and will prove valuable in the event of default or disagreements between the parties about repayment terms. This Promissory Note accompanies and becomes a part of a Line of Credit Agreement.

This Promissory Note (Line of Credit) contains the following provisions:

• Promissory Note Information: Names of both the borrower and lender, the amount of the note, place of issue and signing date;
• Monthly Payments: Amount of monthly payment and the maturity date of the note;
• Prepayment: Borrower may prepay the promissory note at any time without incurring a penalty;
• Default: Specifies the terms under which a default has occurred;
• Signatures: Borrower and lender must sign and date the note.

Protect your rights and your property by purchasing this attorney-prepared form.

This attorney-prepared package includes:

1. General Information
2. Instructions and Checklist
3. Promissory Note (Line of Credit)

State Law Compliance: This form complies with the laws of all states