Balloon Promissory Note with Collateral | Canada
Write up a Balloon Promissory Note with this easy-to-use template for Canada, which requires collateral as additional security.
- 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, which is 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 collateral for the loan.
- This digital legal form can be used in any Canadian province or territory.
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Last Updated: 18-July-2018