Products tagged with 'loan security form'

Secure the repayment of a loan made in Canada with this Promissory Note (for interest only).

This Promissory Note template is designed to help secure the repayment of interest on a loan made within Canada. It provides a clear framework for both lenders and borrowers regarding the repayment terms and expectations.

Deferred Repayment of Principal

Under this Note, the borrower is required to make payments that cover only the accrued interest on the loan. No payments toward the principal amount are necessary until the specific date outlined in the Note. This allows the borrower to manage cash flow by deferring principal repayments until a later time.

Schedule of Interest Payments

Interest payments are to be made in arrears, following a regular payment schedule as defined in the terms of the Note. This ensures that the lender receives compensation for the use of their funds over the period of the loan.

Principal Repayment and Prepayment

The principal sum of the loan may be repaid at any time chosen by the borrower, without incurring any penalty or additional fee. This flexibility benefits the borrower, allowing for early repayment if desired.

Format and Availability

This template is provided in Microsoft Word format, making it easy to edit and customize to suit the specific details of your transaction.

Jurisdiction

This Promissory Note is intended exclusively for use in Canada.

Are you loaning money to a person or a company in Canada? Secure your interest as a creditor with this Promissory Note and Guarantee.

Repayment Terms

The borrower agrees to pay the secured amount by monthly payments (not necessarily equal payments).

Guarantee

• The Note includes a guarantee of payment by a guarantor.
• The guarantor also agrees to ensure that the creditor receives a monthly installment payment equal to a specified percentage of the guarantor's net revenue.

Format and Legal Applicability

This Promissory Note and Guarantee form is available as a downloadable and fully customizable MS Word file. It is intended for use only in Canada.

Write up a Balloon Promissory Note with this easy-to-use template for Canada, which requires collateral as additional security.

Payment Terms

Under this Note, the borrower agrees to make regular monthly payments toward the total amount secured. These payments will continue up to the date specified for the final payment.

Balloon Payment

On the date of the final payment, the borrower is required to make a balloon payment. This means the borrower must pay the entire remaining balance, including all outstanding principal and accrued interest, in one lump sum.

Collateral Requirement

As an added security measure, this Note requires the borrower to provide collateral. The collateral can be in the form of personal property or real estate, which further secures the lender's interest in the loan.

Format and Jurisdiction

This Balloon Promissory Note form is available as a fully editable and reusable MS Word document. It is intended to be used in Canada, and can be used in all provinces and territories. A French language version may be required for Quebec.

Use this customizable template to prepare a Balloon Mortgage Promissory Note for mortgage loans made in Canada. 

Repayment Terms

• Under this note, the borrower is required to make monthly payments toward the secured amount. These payments will continue until the date of the final payment.
• On the maturity date, the borrower must make a balloon payment that covers the entire remaining balance of both principal and interest outstanding. This structure ensures that the loan is fully repaid at maturity.

Security

The Balloon Mortgage Promissory Note is secured by a mortgage on the borrower’s property. This security measure provides protection for the lender and helps ensure repayment of the loan.

Format and Scope of Template

This Balloon Mortgage Promissory Note template is available in MS Word format. It is fully editable and reusable. There are no additional fees for multiple use. Once you pay, the form is yours.

The Promissory Note can be used throughout Canada. A French language version may be required for use in Quebec.

This form of Installment Promissory Note is for a loan that is backed by collateral belonging to the borrower.

Repayment Terms

The principal amount of the loan, along with the accrued interest, will be repaid through a series of regular, fixed installment payments.

Prepayment Option

The borrower has the ability to prepay the Note before the final due date. However, if the borrower chooses to pay off the loan early, the lender will impose a prepayment fee as a condition for early repayment.

Default and Acceleration

In the event the borrower fails to make a scheduled payment, or if the borrower becomes bankrupt or insolvent, the entire outstanding balance of the loan, including all interest, becomes immediately due and payable.

Collateral and Lender Rights

If the borrower defaults on the loan, the lender is entitled to dispose of the pledged collateral. The lender may choose to sell the collateral privately or through a public auction.

Format and Legal Jurisdiction

The Installment Note with Prepayment Fee template is a downloadable MS Word document that is editable and reusable. Once you pay for the form, it's yours. There are no license fees or subscriptions.

This legal document can be used throughout Canada. English-language version only.

Prepare a Balloon Mortgage and Security Agreement for borrowers with this easy-to-use template.

• The entire unpaid balance of the mortgage loan and interest is due on the maturity date.
• The borrower (mortgagor) will pay all taxes, rates and assessments levied against the mortgaged property.
• The borrower must keep the mortgaged property insured for such risks and in such amounts as the lender may require.
• The borrower must get the lender's consent before making any alterations to the property, and must maintain the property in good condition and repair.
• If the borrower attempts to transfer all or any part of the property, the mortgage loan plus interest will immediately become due.
• The borrower waives all right of homestead exemption in the property.
• The mortgage will secure not only the borrower's existing debt to the lender, but any future advances made within 20 years of the date of the mortgage to the same extent as if they were made on the date of execution of the mortgage.
• This template is not state-specific. Some state laws require specific wording to be added to balloon mortgages. Check your state legislation online for details.
• Intended to be used only within the United States.