USA Installment Note with Prepayment Fee
This form of Installment Promissory Note provides for fixed non-variable payments and a prepayment fee if the loan is paid out early.
- This legal form template can be used anywhere in the United States.
- The Note is secured by collateral belonging to the borrower.
- The borrower promises to repay the debt by a series of regular fixed installment payments.
- If the borrower elects to pay the debt earlier than the due date, the lender will charge a prepayment premium (fee).
- The Note contains an acceleration clause. If the borrower defaults in making a payment when it is due or becomes bankrupt or insolvent, the entire balance together with interest becomes immediately due and payable.
As a lender, your loan paperwork can be much easier to prepare if you download this USA Installment Note template. Add it to your cart and check out.