A Secured Demand Promissory Note is commonly used in lending transactions where immediate collateral protection is required. This document is particularly useful in business loans, equipment financing, and other scenarios where the lender needs both the flexibility to demand repayment and security in specific assets. Under U.S. law, it must comply with the Uniform Commercial Code and state-specific requirements. The note typically includes detailed information about the loan amount, interest rate, security interest, and default provisions. It differs from standard promissory notes by combining payment obligations with security interests, making it a more robust instrument for lenders.
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1. Parties: Identification of lender and borrower with full legal names and addresses
2. Promise to Pay: Principal amount and unconditional promise to repay the loan
3. Interest Rate: Specified interest rate, calculation method, and compounding frequency
4. Security Interest: Description of collateral securing the note and rights of the lender
5. Payment Terms: When and how payments must be made, including payment methods and due dates
6. Default Provisions: Circumstances constituting default and consequences of default
7. Signature Block: Execution by borrower with date and notarization requirements
1. Prepayment Provisions: Terms for early repayment and any associated penalties or benefits
2. Late Payment Penalties: Additional charges for late payments and grace period details
3. Acceleration Clause: Right to demand full payment upon specified trigger events
4. Attorney's Fees: Provisions for recovery of legal costs in case of enforcement
1. Schedule A - Collateral Description: Detailed description of security/collateral including serial numbers, locations, and specifications
2. Schedule B - Payment Schedule: Detailed payment schedule with specific dates and amounts if applicable
3. UCC-1 Financing Statement: Standard form for recording security interest in the collateral
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Old Promissory Note
A legally binding financial document under U.S. law that contains a written promise to repay a specified sum of money under stated terms.
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Multiple Advance Promissory Note
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Joint And Several Promissory Note
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A U.S.-compliant document recording a loan agreement and promise to repay between parties.
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Future Advance Promissory Note
A U.S. legal document combining a promissory note with provisions for future monetary advances.
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Consolidated Promissory Note
A U.S. legal document that combines multiple loans into a single obligation with unified terms and conditions.
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Unsecured Demand Promissory Note
A U.S. legal document representing an unsecured promise to pay a specified sum on demand.
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Simple Note Payable
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Simple Promissory Letter
A legally binding document under U.S. law that contains a written promise to pay a specified sum of money under defined terms.
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Promissory Note With Balloon Payment
A U.S. legal document establishing a loan repayment obligation with regular payments and a larger final balloon payment.
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Personal Promissory Note
A legally binding document used in the US that records a personal loan agreement and repayment terms between parties.
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30 Day Promissory Note
A US-governed financial instrument documenting a promise to repay a specified sum within 30 days.
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Business Promissory Note
A U.S. legal document where a business formally promises to repay a specified loan amount under agreed terms.
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Vehicle Promissory Note
A U.S. legal document establishing terms for vehicle-secured loan repayment.
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Promissory Note Purchase And Sale Agreement
A U.S. legal agreement governing the sale and transfer of a promissory note between parties, subject to federal and state securities laws.
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Bridge Loan Promissory Note
A U.S. legal document evidencing a short-term loan that bridges temporary financing needs until permanent funding is secured.
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Construction Loan Promissory Note
A legally binding document under U.S. law that evidences a borrower's promise to repay a construction loan with specified terms and conditions.
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A U.S. legal document establishing terms for a fixed-time loan repayment with specified interest rates and payment schedule.
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Short Form Promissory Note
A concise legal document used in the US that evidences a debt and promise to repay under specified terms.
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Shareholder Loan Promissory Note
A U.S. legal document that establishes the terms and conditions of a loan from a shareholder to their company.
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Replacement Promissory Note
A U.S. legal document that replaces an existing promissory note while maintaining the underlying debt obligation.
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Promissory Note Secured By Real Property
A U.S. legal document evidencing a debt secured by real property, specifying repayment terms and establishing the lender's security interest.
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Promissory Note For Land Purchase
A U.S. legal document establishing terms for payment in a land purchase transaction.
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Personal Loan Note Agreement
A U.S.-compliant legal document that establishes the terms and conditions for a personal loan between a lender and borrower.
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Joint Promissory Note
A U.S. legal document where multiple parties jointly promise to repay a loan, governed by state laws and the UCC.
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Earnest Money Promissory Note
A U.S. legal document evidencing a promise to pay earnest money, typically used in real estate transactions.
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Compound Interest Promissory Note
A U.S. legal document establishing terms for loan repayment with compound interest, including principal, interest rate, and payment schedule.
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Promissory Note For Lending Money To Friend
A legal document used in the U.S. that formalizes and documents the terms of a personal loan between friends.
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Home Loan Promissory Note
A U.S. legal document evidencing a borrower's promise to repay a home loan under specified terms and conditions.
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Forgivable Promissory Note
A U.S. legal document establishing terms for a loan that can be forgiven under specified conditions.
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Amended Promissory Note
A U.S. legal document that modifies the terms of an existing promissory note while maintaining the original debt obligation.
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90 Day Promissory Note
A U.S. legal document evidencing a promise to repay a specified sum within 90 days, subject to federal and state regulations.
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Undertaking Promissory Note
A U.S.-governed written promise to repay a specific sum of money under defined terms and conditions.
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Standard Promissory Note Unsecured
A U.S. legal document evidencing an unsecured promise to repay a specified sum of money under defined terms.
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Secured Convertible Promissory Note
A U.S. debt instrument that provides secured lending with an option to convert into equity, governed by federal and state securities laws.
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Promissory Note With Payment Schedule
A U.S.-governed document that establishes loan terms, including principal, interest, and payment schedule between lender and borrower.
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Promissory Note Settlement Agreement
A U.S. legal document that establishes terms for settling an existing promissory note obligation between creditor and debtor.
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Promissory Note Deed
A U.S. legal instrument combining a promise to pay with security provisions, documenting loan terms and conditions.
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Promise Of Payment Contract
A U.S.-governed contract documenting a formal promise to pay a specified sum, including payment terms, interest, and default provisions.
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Pledge Note
A U.S. legal instrument combining a promissory note with a security agreement, creating an enforceable security interest in pledged collateral.
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Lump Sum Promissory Note
A U.S. legal document containing a promise to repay a specified sum of money in a single payment at a future date.
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Individual Promissory Note
A legally binding document under U.S. law containing a written promise to repay a specific sum of money with defined terms and conditions.
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