This is a sample balloon note. The form provided here is simply a sample of what the actual form looks like.
FOR VALUE RECEIVED, the undersigned promise to pay
to the order of ____________________
the sum of _______________________Dollars ($_______),
with annual interest of_________% on any unpaid balance.
This note shall be paid in ________ consecutive and equal installments
each with a first payment one _____ from the date hereof,
and the same amount on the same day of each_______ thereafter,
provided the entire principal balance and any accrued but unpaid
interest shall be fully paid on or before ________________, 20____.
This note may be prepaid without penalty. All payments shall be first applied to interest and the balance to principal. This note shall be due and payable upon demand of any holder hereof should the undersigned default
in any payment beyond _____ days of its due date. All parties to this note waive presentment, demand and protest, and all notices thereto. In the event of default, the undersigned agree to pay all costs of collection and reasonable attorney's fees.
The undersigned shall be jointly and severally liable under this note.
Signed this _____day of __________, 20____.
Signed in the presence of: