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Preview - Ohio Promissory Note Form
Ohio Promissory Note
This Promissory Note is made and executed on this ____ day of __________, 20__ in accordance with the laws governing promissory notes in the State of Ohio.
Borrower: _____________
Address: ________________________
Lender: _____________
Address: ________________________
Principal Amount: $_____________
This note is subject to the following terms:
- Interest Rate: ______% per annum.
- Payment Schedule: Payments of $__________ will be made on the ____ day of each month.
- Due Date: The total amount of principal and accrued interest is due on __________.
In the event of default, the Borrower agrees to pay all costs and expenses incurred by the Lender in enforcing this note, including but not limited to attorney fees.
This Note is governed by the laws of the State of Ohio. Borrower and Lender hereby agree that their signatures below signify acceptance of all terms herein.
______________________________
Borrower Signature
______________________________
Lender Signature
______________________________
Date
Create Other Common Promissory Note Forms for Different States
Georgia Promissory Note - They can serve to clarify the nature of the agreement, especially in informal lending situations.
Ensure a smooth transaction by familiarizing yourself with the critical aspects of the essential RV Bill of Sale form. You can access the form by visiting this link.
How to Write a Promissory Note - Loan modifications can be made through an amendment to the original promissory note if both parties agree.
Loan Note Template - The form may require identification details of both the borrower and lender.
Similar forms
- Loan Agreement: Like a promissory note, a loan agreement outlines the terms of borrowing money, including the amount, interest rate, and repayment schedule. However, it often includes more detailed conditions and obligations for both parties.
- Mortgage: A mortgage is a specific type of loan secured by real property. It includes a promissory note as part of the documentation, detailing the borrower's promise to repay the loan used to purchase the property.
- Installment Agreement: This document specifies a plan for repaying a debt in regular installments over time. Similar to a promissory note, it sets out the repayment terms but may cover a broader range of obligations.
- IOU (I Owe You): An IOU is a simple acknowledgment of a debt. While it lacks the formal structure of a promissory note, it serves the same basic purpose of confirming that one party owes money to another.
- Security Agreement: This document grants a lender a security interest in specific assets as collateral for a loan. It often accompanies a promissory note, ensuring the lender has recourse if the borrower defaults.
- Loan Proposal: A loan proposal outlines the borrower's request for financing. While it does not create a binding obligation, it shares similarities with a promissory note in that it expresses the intent to borrow funds.
- Bill of Sale: This document is essential for the transfer of ownership of personal property, providing legal protection for both parties involved in the transaction. For those looking for a specific template, you can find it here: https://pdftemplates.info/pennsylvania-bill-of-sale-form/.
- Credit Agreement: This document governs the terms of a credit arrangement, similar to a promissory note but typically involving revolving credit. It details the terms of borrowing and repayment, including interest rates and fees.
- Letter of Credit: A letter of credit is a financial document from a bank guaranteeing payment to a seller on behalf of a buyer. While it serves a different purpose, it involves a commitment to pay, akin to a promissory note.
- Lease Agreement: In a lease, the tenant promises to pay rent to the landlord, similar to how a borrower promises to repay a loan in a promissory note. Both documents establish a financial obligation between parties.
- Debt Settlement Agreement: This document outlines the terms for settling a debt for less than the full amount owed. Like a promissory note, it formalizes the agreement between parties regarding financial obligations.