FOR VALUE RECEIVED, the undersigned, _______________________________ (Borrower), maintaining an address at _______________________________ (Borrower’s Address) promises to pay to the order of _________________________ (Lender), whose address is __________________________ (Lender’s Address), the principal sum of $_____________ (Principal), together with interest of _____% (Interest Rate) per year thereon from the date herein.
The unpaid Principal and accrued interest shall be paid in monthly installments of $_______ each, with the first payment due on __________________, and the same amount due on the same day of each month thereafter for the next ____ consecutive months. The remaining balance with the accrued but unpaid interest shall be fully paid on or before ___________, 20__.
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