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INSTALLMENT NOTE - INTEREST EXTRA

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Quick Overview

An installment note, referred to as a note payable in accounting, or commonly as just a "note", is a contract where one party (the maker or issuer) makes an unconditional promise in writing to pay a sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms.

INSTALLMENT NOTE - INTEREST EXTRA

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INSTALLMENT NOTE - INTEREST EXTRA
DO NOT DESTROY THIS NOTE: When paid, this note and the Deed of Trust must be surrendered to the with request for reconveyance.
, California,
$
In installments and at the times hereinafter stated; for value received
promise__ to pay to or order, at
the principal sum of Dollars, with interest from on the amounts
of principal remaining from time to time unpaid until said principal sum is paid, at the rate of per cent, per annum,
payable Said principal sum due in _ installments
of Dollars, ($ ) or more on the day of each and every month, beginning on the day of ,20 and continuing until said principal sum has been fully paid. AT ANY TIME, THE PRIVILEGE IS RESERVED TO PAY MORE THAN THE SUM DUE.
Should the interest not be so paid it shall be added to the principal and thereafter bear like interest as the principal, but such unpaid interest so compounded shall not exceed an amount equal to simple interest on the unpaid principal at the maximum rate permitted by law. Should default be made in the payment of any installment of principal or interest when due, then the whole sum of principal and interest shall become immediately due and payable at the option of the holder of this note. Should suit be commenced to collect this note or any portion thereof, such sum as the Court may deem reasonable shall be added hereto as attorney's fees. Principal and interest payable in lawful money of the United States of America. This note is secured by a certain DEED OF TRUST to the , a California corporation, as TRUSTEE.
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