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Installment Note Template$ ---------------19___ FOR VALUE RECEIVED, the undersigned promise(s) to pay to the principal sum of DOLLARS ($ ) and interest from on the balance of principal remaining from time to time unpaid at the rate of per cent per annum, such principal sum and interest to be payable in installments as follows: DOLLARS ($ ) on the day of , 19 , and DOLLARS ($ ) on the day of each and every month thereafter until this Note is fully paid, except that the final payment of principal and interest, if not sooner paid, shall be due on the day of, 19 All such payments on account of the indebtedness evidenced by this Note shall be applied first to accrued and unpaid interest on the unpaid principal balance and the remainder to principal. Payments are to be made at, or at such other place as the legal holder of this Note may from time to time in writing appoint. And to secure the payment of said amount, the undersigned hereby authorizes, irrevocably, any attorney of any Court of Record to appear for the undersigned in such Court, in term time or vacation, at any time after maturity, and confess a judgment, without process, in favor of the holder of this Note, for such amount as may appear to be unpaid thereon, together with reasonable costs of collection, including reasonable attorney's fees and to waive and release all errors which may intervene in any such proceedings, and consent to immediate execution upon such judgment, hereby ratifying and confirming all that said attorney may do by virtue hereof. At the option of the legal holder hereof and without notice, the principal sum remaining unpaid hereon, together with accrued interest thereon, shall become at once due and payable at the place of payment aforesaid in case default shall occur in the payment, when due, of any installment of principal or interest in accordance with the terms hereof. All parties hereto severally waive presentment for payment, notice of dishonor, protest and notice of protest. (signed) INSTALLMENT NOTE Received on the Note the following sums Date Interest Principal Remarks |
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