PROMISSORY NOTE
Date: 2026-02-13
FOR VALUE RECEIVED, the undersigned Borrower promises to pay Lender the principal sum and interest described in this Note, subject to the terms below.
1. PARTIES
Lender: [Lender Name], [Lender Address].
Borrower: [Borrower Name], [Borrower Address].
2. PRINCIPAL AND INTEREST
Principal amount: 10000. Annual interest rate: 8.5%.
Note structure: Installment.
3. PAYMENT TERMS
First payment due: -.
Payment frequency: Monthly.
Scheduled payment amount: To be determined by parties' amortization schedule.
Maturity date: -. All remaining principal, interest, and charges become due on maturity unless paid earlier.
4. LATE PAYMENTS
A late charge may apply for payments received more than 10 calendar days after due date, as permitted by law.
5. PREPAYMENT
Borrower may prepay all or part of outstanding balance without penalty unless otherwise required by law.
6. DEFAULT AND REMEDIES
Failure to make timely payments constitutes default. Upon default, lender may accelerate the unpaid balance and pursue lawful remedies.
7. SECURITY / COLLATERAL
This note is unsecured unless collateral terms are separately documented.
8. GOVERNING LAW
This Note is governed by laws of [state] with venue in [county].
9. ADDITIONAL TERMS
No additional terms.
10. KEY TERMS SUMMARY (TABLE)
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Principal |10000
Interest Rate |8.5%
Note Type |Installment
First Payment |-
Maturity Date |-
Payment Frequency |Monthly
Scheduled Payment |To be calculated by parties
Governing Law |- / -
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11. SIGNATURES
LENDER SIGN: __________________ DATE: 2026-02-13
BORROWER SIGN: __________________ DATE: 2026-02-13
Witness (optional): __________________