Mississippi Balloon Promissory Note
Secure the repayment of a loan in Mississippi with this easy template Balloon Promissory Note.
- The borrower agrees to make a series of equal monthly payments against the secured amount, until the date of the final payment which will be a balloon payment, i.e. payment in full of the entire balance of principal and interest outstanding at that date.
- The borrower may make additional payments in addition to the monthly installments by paying a prepayment penalty, which will be reduced each year of the term of the Note.
- Any finance charges payable to the lender will conform to the usury laws of the State of Mississippi.
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Last Updated: 14-April-2016