Use this Balloon Promissory Note form in situations where the borrower is required to provide additional collateral besides the property being mortgaged.
- The borrower agrees to make monthly payments against the amount secured by the Note, until the date of the final payment.
- The final payment 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 is a generic legal form which is not specific to any country, state or province.
This Balloon Promissory Note with Collateral Provisions
template is available in MS Word format and is fully editable to meet your needs.
Last Updated: 14-April-2016