Free Promissory Note for Extension of Payment Template
PROMISSORY NOTE
THIS PROMISSORY NOTE (this "Note") made and executed this ___ day of ___, 205__ by and between Olivia Bennett, addressed at 789 Pine Lane, Dreamville, Fantasia, 67890 (the "Maker"), and the Lender (the "Payee").
FOR VALUE RECEIVED, the Maker promises to pay to the order of the Payee the principal sum of Three Thousand dollars ($3,000), with interest computed on unpaid principal, under the terms set forth herein.
Repayment for this loan will be in full on July 27, 1999. If payment is not received by the aforementioned dated, penalties for late payments will be enforced. Liability for the payment of the note is not impacted by the death or disability of the Maker.
The conditions of this Note are such that if the Maker shall default or be in breach of any terms or conditions of this Note or any guarantees supporting this Note, the full sum of principal and accrued interest shall immediately become due and payable.
Upon default, the Maker agrees to pay any reasonable costs for collection, including legal fees, should legal action become necessary to enforce the collection of this Note.
This Note may not be altered, amended, or modified, except in writing and signed by both the Maker and Payee. This Note is to be governed and construed in accordance to the laws of the State of ____. The Maker has executed, sealed, and delivered this Note as a sealed instrument under the laws of the State of ____.
IN WITNESS WHEREOF, the Maker has executed this Promissory Note as of the day and year written above.
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Olivia Bennett (Maker)
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(Payee)
