home
***
CD-ROM
|
disk
|
FTP
|
other
***
search
/
Complete Home & Office Legal Guide
/
Complete Home and Office Legal Guide (Chestnut) (1993).ISO
/
ex
/
sam
/
le
/
2200a.sam
< prev
next >
Wrap
Text File
|
1993-08-01
|
3KB
|
74 lines
PROMISSORY NOTE
March 15, 1994 Hafred, Texas
$2000
James Beall, referred to herein as "MAKER", agrees to pay to
the Order of Duane Carroll, referred to herein as "HOLDER", or
order, the sum of $2000, ( two thousand & no/100 Dollars), at 456
Texarkana Avenue, Carrollton, TX 76543, with interest thereon at
rate of 9% per annum, simple interest.
Said note shall be in due, unless earlier accelerated, in 12
installments, payable every 30 days, in the amount of $ 200, ( two
hundred & no/100 Dollars). All payments received shall be credited
first to interest and then to principal. Should MAKER fail to pay
any installment when due, then HOLDER shall have the option to
accelerate the payment of the full principal sum and accrued
interest payable. HOLDER shall have the right for commercially
reasonable causes, including but not limited to, the institution
of litigation, the filing of tax liens, or any other objective
sign of incapacity of the MAKER to pay the principal or interest
due, to accelerate the payment of the full principal sum and
accrued interest payable.
This note is payable in U.S. Dollars. At any time the maximum
rate of interest applicable to this transaction shall not exceed
the legal maximum rate of interest for a note of this type. Any
sums paid in excess of any lawful limitation shall be applied to
principal.
After default herein, this note will bear interest at the highest
legal rate for this type of note until paid in full. Upon any
default, MAKER agrees to pay a reasonable attorney's fee for any
and all services of an attorney, whether in or out of court, and
for appeal and post-judgment collection legal services.
Dated:
____________________________________________
MAKER
PERSONAL GUARANTEE
The undersigned, in consideration of the extension of credit by
HOLDER to MAKER, unconditionally personally guarantee the full
and prompt payment of principal, interest, and any collection
costs, including attorney's fees to HOLDER. The undersigned
consent to any extensions which may be made from time to time
between MAKER and HOLDER, and consents to the release or
substitution of any collateral.
***************************************************************
READ CAREFULLY: You are executing a legally binding obligation to
pay this debt should the primary maker fail or refuse to do so.
This may mean that you might be called on to pay this debt and
collection costs.
***************************************************************
__________________________________________
GUARANTOR
__________________________________________
GUARANTOR