CWhat are the principal amount, date, and interest rate of the Note?
Using the format MM/DD/YYYY, enter the date of the Note. This information will determine the first payment date and the due date of the Note.
PMN01004
Due on demandIn full on a specific dateInstallment payments of interest onlyInstallment payments (principal only OR principal and interest)#| Principal OnlyPrincipal and Interest
PMNOTE01
*What is the payment frequency of the Note?
PMN01011
{NEXT_?}
Number of Paymts: |Charges Begin: |1st Payment Date: |Paymt Frequency: |Due Date of Note: |Payment Amount: $|Balloon Payment: $|#| Print Amortization Schedule
PMNOTE01
This Financial Calculator calculates the First Payment Date, Payment Amount, and Due Date of the Note. What is the number and frequency of payments required?
The program uses the "Date of Note" you entered earlier as the date when interest charges begin. You can provide an "interest free" period by entering a later date in this field. For example, if the Date of Note is March 1, 1995, a month of "free interest" can be provided by entering April 1, 1995, as the "Date Charges Begin".
This date is provided the program. This date may be changed by changing the "Date Charges Begin".
This date is calculated, based on the "Date of Note", the "No. of Payments", and the "Payment Frequency".
{NEXT_?}
Name: |[Include a second Promisor]Name: |
PMNOTE02
!What is the name of the Promisor?
PMN02022
Name: |[Include a second Payee]Name: |Address 1: |Address 2: |City: |State: |Zip: |[Include country]Country: |
PMNOTE02
*What is the name and address of the Payee?
{NEXT_?}
Rate: |%
PMNOTE03
"What is the default interest rate?
{NEXT_?}
Yes, include a default rate statement.
PMNOTE03
sIf the note is not paid in full by the due date, will a higher interest rate be charged on the remaining principal?
PMN03002
{NEXT_?}
PMNOTE04
{NEXT_?}
Date: |
PMNOTE04
When will the Note be due?
{NEXT_?}
in | installments of interest beginning onand continuing until|.
PMNOTE04
+How will the interest installments be paid?
{NEXT_?}
PMNOTE04
PMN04005
PMN04100
PMN04000
$|days after the installment's due date
PMNOTE05
UWhat will be the late charge on each unpaid installment and when will it be assessed?
{NEXT_?}
Yes, include a late charge paragraph.
PMNOTE05
VWill the Promisor pay a late charge on installments that are not paid by the due date?
PMN05002
{NEXT_?}
Date: |Discount: |%
PMNOTE06
aWhat is the cutoff date for the Promisor to qualify for a discount for paying off the Note early?
Using the format MM/DD/YYYY, enter the date by which the Note must be paid in full to receive a discount. Generally, this date should be after the "Date of Note" and prior to the "Due Date of Note" you specified earlier.
{NEXT_?}
Yes, include a discount paragraph.
PMNOTE06
JWill the Promisor be entitled to a discount for early payment of the note?
PMN06002
{NEXT_?}
Yes, if any installment is not paid when due, the remaining unpaid balance and any accrued interest shall become due immediately at the option of the Payee.
PMNOTE07
|Do you wish to state that the Payee has the right to demand immediate full payment of the note if any installments are late?
{NEXT_?}
for partial or full prepayment.if the Note is prepaid in full.
PMNOTE08
^Under which condition does the Promisor reserve the right to prepay this Note with no penalty?
{NEXT_?}
Yes, include a prepayment paragraph.
PMNOTE08
@Will the Promisor be allowed to prepay the Note without penalty?
PMN08002
{NEXT_?}
Yes, if any payment obligation under this Note is not paid when due, the Promisor promises to pay all costs of collection, including reasonable attorney fees, whether or not a lawsuit is commenced as part of the collection process.
PMNOTE09
PWill the Promisor be responsible for any collection costs incurred by the Payee?
{NEXT_?}
Yes, Promisor will be in default.
PMNOTE10
Will the Promisor be considered in default if the Promisor sells or transfers assets that have been pledged as security for the payment of the Note?
PMN10003
Yes, all Promisors will be in default.
PMNOTE10
JWill the default of one Promisor be considered a default by all Promisors?
{NEXT_?}
Yes, include the list.
PMNOTE10
YDo you wish to include a list of events which will be considered defaults under the Note?
PMN10002
{NEXT_?}
Date: |
PMNOTE11
+What is the date of the security agreement?
{NEXT_?}
This Note is secured by a:#|
PMNOTE11
JWhat type of security agreement exists between the Payee and the Promisor?
PMN11003
Yes, this note will be secured.
PMNOTE11
2Will this note be secured by a security agreement?
PMN11004
{NEXT_?}
Yes, the Promisor will be required to maintain term life insurance payable to the Payee in an amount sufficient to pay the principal and accrued interest in full in the event of the Promisor's death.
PMNOTE12
?Will the Promisor be required to provide credit life insurance?
{NEXT_?}
State: |
PMNOTE13
(What state's laws will govern this Note?
{NEXT_?}
Name: |[Include title]Title: |
PMNOTE14
<Who will sign the Promissory Note on behalf of the Promisor?
PMN14013
PMN14025
Name: |[Include title]Title: |
PMNOTE14
CWho will sign the Promissory Note on behalf of the Second Promisor?
PMN14025
City: |#State: |
PMNOTE14
)Where will the promissory note be signed?
{NEXT_?}
Yes, include the paragraph.
PMNOTE15
^Do you wish to include a paragraph which allows the Payee to assign the note to another party?
{NEXT_?}
IndividualCorporation
PMNOTE16
0Is the Guarantor an individual or a corporation?
PMN16007
PMN16003
Name: |
PMNOTE16
"What is the name of the Guarantor?
{NEXT_?}
Name: |
PMNOTE16
"What is the name of the Guarantor?
PMN16015
Name: |[Include title]Title: |
PMNOTE16
6Who will sign the Guaranty on behalf of the Guarantor?
{NEXT_?}
Yes, there is a Guarantor.
PMNOTE16
^Is there a third party who will guarantee all the obligations of the Promisor under this note?
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