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STRAIGHT NOTE

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Quick Overview

A straight 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.

STRAIGHT NOTE

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Sample Text: (Formatting does not match the actually Forms)

Please use the (Sample: Static PDF) for the Free Version

STRAIGHT NOTE
DO NOT DESTROY THIS NOTE: When paid, this note and the Deed of Trust must be surrendered to the with request for reconveyance.
$ _ , California,
After date , for value received,
promise to pay to , or order, at , the sum of Dollars, with interest from until paid, at the rate of per cent, per annum, payable
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Should interest not be so paid, it shall 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 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 , as TRUSTEE.
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