Professional Notary IOU
Professional Notary IOU (I OWE YOU)
Date of Agreement:
September 15, 2050
Parties Involved:
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Creditor (Lender):
Name: John Doe
Address: 123 Elm Street, Springfield, IL 62704
Phone: 222 000 8888 -
Debtor (Borrower):
Name: [YOUR NAME]
Address: 3124 Elm Drive, Garden City NY 10021
Phone: 222 555 7777
Amount of Debt:
$5,000.00
Terms of the Loan:
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Interest Rate:
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The interest rate applied to this loan shall be 5% per annum.
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Payment Schedule:
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Payments shall be made as follows:
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$500.00 due on the 15th day of each month
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Payments continue until the total amount is paid in full.
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Late Fees:
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A late fee of $50.00 will be applied if payment is not received within 10 days of the due date.
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Acknowledgment of Debt:
I, [YOUR NAME], acknowledge that I owe the total amount of $5,000.00 to John Doe as outlined in this IOU. I understand that failure to adhere to the terms stated above may result in legal action.
Signatures:
John Doe
Creditor
September 15, 2050
[YOUR NAME]
Debtor
September 15, 2050
Notary Public Section:
State of Illinois
County of Sangamon
Subscribed and sworn to before me this 15th day of September, 2050.
Notary Public
My Commission Expires: June 30, 2057
Additional Notes:
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This IOU may be used as evidence in legal proceedings if necessary.
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Both parties should retain a copy of this document for their records.
