Promissory Note

About this template:

This particular legal document or agreement of assignment is used to assist in dealing with a promissory note. See other legal documents that you may be interested in at https://www.templateguru.co.za/templates/legal/

Excerpt:

PROMISSORY NOTE This Promissory Note (the Note) is made and effective the [DATE] TERMS 1. FOR VALUE RECEIVED the Borrower promises to pay to the order of Lender at itsprincipal office located at [ADDRESS] or at such other place that is designated in writing by the holder hereof the principal sum of [AMOUNT] together with all charges and interest herein provided payable at the rate and in the manner hereinafter set forth: 2. Borrower shall make monthly payments of principal and interest at the rate of [%] per annum based upon an amortisation of [NUMBER] months. Monthly payments shall be due on or before the first day of each month with the first payment being due on or before [DATE]. If not sooner paid all amounts due under this Note including principal interest and other charges shall be due and payable in full on or before the first day of [MONTH] [YEAR] (the Maturity Date). Time is of the essence of the payment obligations hereunder and each monthly payment shall be due and payable on or before the first day of each month.

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