Installment Note
$
Month, Day 20___
FOR VALUE RECEIVED, the undersigned promise(s) to pay to
the principal sum of
DOLLARS ($ )
and interest from on the balance of principal remaining from time to
time unpaid at the rate of per cent per annum, such principal sum and
interest to be payable in installments as follows:
DOLLARS ($ ) on the day of , 20 ,
and DOLLARS ($ )
on the day of each and every month thereafter until this Note is fully paid, except that the
final payment of principal and interest, if not sooner paid, shall be due on the day of
, 20 . All such payments on account of the indebtedness evidenced by this
Note shall be applied first to accrued and unpaid interest on the unpaid principal balance and the
remainder to principal.
Payments are to be made at
, or at such other place as the legal holder of this Note may from time
to time in writing appoint.
And to secure the payment of said amount, the undersigned hereby authorizes, irrevocably,
any attorney of any Court of Record to appear for the undersigned in such Court, in term time or
vacation, at any time after maturity, and confess a judgment, without process, in favor of the holder
of this Note, for such amount as may appear to be unpaid thereon, together with reasonable costs
of collection, including reasonable attorney’s fees and to waive and release all errors which may
intervene in any such proceedings, and consent to immediate execution upon such judgment,
hereby ratifying and confirming all that said attorney may do by virtue hereof.
At the option of the legal holder hereof and without notice, the principal sum remaining
unpaid hereon, together with accrued interest thereon, shall become at once due and payable at
the place of payment aforesaid in case default shall occur in the payment, when due, of any
installment of principal or interest in accordance with the terms hereof.
All parties hereto severally waive presentment for payment, notice of dishonor, protest and
notice of protest.
(signed)
It would look better if the Mods would preserve spacing.
<img src="/ubbt/images/graemlins/cool.gif" alt="" />
