New Mexico IOU
New Mexico IOU (I Owe You)
I. The Parties
This IOU Agreement ("Agreement") is made and entered into by and between the following parties:
Lender: [LENDER'S FULL NAME], with a mailing address of [LENDER'S ADDRESS].
Borrower: [YOUR NAME], with a company name of [YOUR COMPANY NAME], located at [YOUR COMPANY ADDRESS].
II. Principal Amount
The principal amount of this loan is [LOAN AMOUNT] ([CURRENCY]).
III. Repayment
The Borrower agrees and promises to repay the full principal amount to the Lender on or before [REPAYMENT DATE].
IV. Payment Method
Payments will be made via [SPECIFY PAYMENT METHOD], directed to the following details: [LENDER'S PAYMENT DETAILS]. All payments should be free of charges or the borrowing party will cover any transaction fees.
V. Interest
This Loan will bear interest at the rate of [INTEREST RATE]% per annum.
VI. Default and Remedies
If the Borrower fails to make any payments within [NUMBER OF DAYS] days of the due date, the Borrower will be in default. The Lender, after such default, may demand immediate payment of the full balance then due under this agreement.
VII. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of New Mexico.
VIII. Entire Agreement
This document reflects the entire agreement between the Lender and the Borrower and supersedes all prior oral or written agreements concerning the loan described herein.
IX. Signatures
Both parties shall provide their signatures below to acknowledge and agree to the terms of this IOU Agreement.
Borrower
Date: [DATE]
Lender
Date: [DATE]
