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PROMISSORY NOTE (Long Form)
FOR VALUE RECEIVED, the undersigned hereby jointly and
severally promise to pay to the order of____________________,
the sum of______________ (£ ) dollars,together with
interest thereon at the rate of ___ % per annum on the unpaid
balance. Said sum shall be paid in the manner following:
(Describe terms)
All payments shall be first applied to interest
and the balance to principal.
This Note may be prepaid, at any time, in whole or in
part, without penalty.
This Note shall at the option of the holder hereof be
immediately due and payable upon failure to make any payment due
hereunder or for breach of any condition of any security
interest, mortgage, pledge agreement or guaranty granted as
collateral security for this Note or breach of any condition of
any security agreement or mortgage, if any, having a priority
over any security agreement or mortgage on collateral granted, in
whole or in part, as collateral security for this Note or upon
the filing by any of the undersigned of an assignment for the
benefit of creditors, bankruptcy, or for relief under any
provisions of the Bankruptcy Code; or by suffering an involuntary
petition in bankruptcy or receivership not vacated within thirty
days.
In the event this Note shall be in default, and placed
with an attorney for collection, then the undersigned agree to
pay all reasonable attorney fees and costs of collection.
Payments not made within_____days of due date shall be subject to
a late charge of _____% of said payment. All payments hereunder
shall be made to such address as may from time to time be
designated by any holder hereof.
The undersigned and all other parties to this Note,
whether as endorsers, guarantors or sureties waive demand,
presentment and protest and all notices thereto and further agree
to remain bound, notwithstanding any extension, modification,
waiver, or other indulgence by any holder or upon the discharge
or release of any obligor hereunder or to this Note, or upon the
exchange, substitution, or release of any collateral granted as
security for this Note.
Signed and sealed under pains and penalties of perjury
this ___day of _________, 19__.
_______________________
_______________________
PROMISSORY NOTE
(For Open Account Debt)
FOR VALUE RECEIVED, the undersigned promise to pay to the
order of __________________________ , the sum of_____________
(£ ) dollars, together with interest thereon at the
rate of __ % per annum on the unpaid balance.
Said principal and interest shall be payable as follows:
(Describe Terms)
The undersigned may prepay this Note in whole or in part
without penalty. In the event any payment due hereunder is not
paid when due, the entire balance shall be immediately due and
payable upon demand of the holder. Upon default, the
undersigned shall pay all reasonable attorney fees and costs
necessary for the collection of this Note.
This Note is executed to evidence an existing
indebtedness due the payee from the undersigned on an open
account balance as of this date, and this Note shall not be
construed as a separate obligation.
Signed under seal this _____day of _________, 19__.
____________________________
NOTICE OF DEFAULT
Date:
To:
Re:
Please be advised that the undersigned is the holder of a
certain promissory note made by you dated ______________________,
in the original principal amount of £__________________.
You are hereby notified that you have defaulted under
said note because you have failed to pay the installment due
____________________, 19__, in the amount of £_______________.
Therefore, demand is hereby made upon you for full
payment of the entire balance due on said note in the amount of
£_____________, including interest accrued to date.
If the entire amount due is not received on or before
_____________________, I shall instruct legal counsel to commence
legal proceedings against you. Attention to the note, which
obligates you to pay in addition to the principal balance and
interest, costs of collection, including attorney's fees.
Your prompt attention to the foregoing is anticipated.
Very truly yours,
____________________________
DEMAND ON GUARANTOR
Date:
To:
Re:
Please be advised that the undersigned is the Holder of
your guaranty dated __________,19___on wherein you guaranteed the
debt owed us by ____________________ as evidenced by a certain
promissory note dated _________,19__.
You are hereby advised that payments on said debt are in
default. To date the outstanding principal balance and accrued
interest is £__________. Therefore, demand is hereby made
upon you to honor said guaranty which requires that you pay the
sum of ____________, forthwith.
Very truly yours,
__________________________
DEMAND BY SECURED PARTY
FOR POSSESSION OF COLLATERAL
Date:
To:
Pursuant to the security agreement dated _______________,
l9__, by and between us wherein you were obligated to deliver
_______________as collateral.
You are presently in default under said agreement.
Therefore, demand is hereby made unto you to surrender possession
of said collateral to me immediately at ______________________
pursuant to the terms of the security agreement and the Uniform
Commercial Code.
Very truly yours,
_______________________________
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