Prepare a Balloon Promissory Note with this easy-to-use template which contains collateral provisions.

The borrower agrees to make monthly payments against the amount secured by the Note, until the date of the final payment, which will be a balloon payment (in other words, a payment in full of the entire balance of principal and interest outstanding at that date). The note has an additional provision requiring the borrower to put up personal property or real estate as additional collateral security.

This generic Balloon Promissory Note is in MS Word format and is easy to edit and use.