multistate balloon fixed rate note- single family- fannie mae uniform instrument form 3260 1/01 (page 1 of 3) balloon note (fixed rate) this loan is payable in full at maturity. you must repay the entire principal balance of the loan and unpaid interest then due. lender is under no obligation to refinance the loan at that time.
BALLOON PAYMENT. Borrower promises to make a single, final payment for the entire balance owed to the Payee on or before _____ [due date for balloon payment]. BORROWER’S PRE-PAYMENT RIGHT. borrower reserves the right to prepay this Note in whole or in part, prior to maturity, without penalty. PLACE FOR PAYMENT. Borrower promises to pay to the.
Promissory Note (Balloon Payment) – Legal Forms | AllLaw – Promissory Note (Balloon Payment) When loaning or borrowing money, use a promissory note as the contract covering the terms of repayment. If you need to outline how a loan must be repaid, a promissory note is the legal form to use.
Sample unsecured promissory note (installment with balloon final payment) Customize On or before , for value received, the undersigned (the "Borrower" ) promises to pay to the order of (the "Holder" ), in the manner and at the place provided below, the principal sum of $ .
If any amount payable under this Note is not paid within 15 days after the due date thereof, Borrower shall pay a late charge of 5.00000% of the delinquent amount as liquidated damages for the extra expense in handling past due payments; provided, however, that no such late charge shall be payable with respect to any balloon – payment due on.