Promissory Note - Balloon Note

PROMISSORY NOTE (This is a Balloon Note) $___________________ _____________City ________ State Date: ________________________ _________________ The undersigned promises to pay to ________________________ (Name of Lender) of ________________________ (Address of Lender) or order, the sum of ________________________ ($_______________) in lawful money of the United States of America at the home office of said ________________________ (Name of Lender) with interest thereon from date at the rate of Percent ( %) per annum until paid. Said principal and interest is payable at ________________________ (Address of Lender) or at such other place as the Lender may designate, in ( ) consecutive monthly install-ments of _________________________ ($___________) on the ________ day of each month beginning on the _____ day of _____________, 20_______, and one final balloon payment of __________________________ ($___________), which balloon payment shall be due and payable on the ______ day of ______________, 20_____. The monthly principal and interest payments shall be based on a ____________ ( ) year amortization. Each monthly installment shall be applied first to interest then due, and the remainder to principal, which monthly install-ments and balloon payment the undersigned, promises to pay as they fall due. NOTE: The full balance of all unpaid principal and interest hereunder shall be due and payable on the _____ day of ____________, 20_____ if not sooner paid.