Promissory Note - Secured (Multiple Options)

When a person or entity ("Lender��) loans money to another person or entity ("Borrower��), the loan is typically formalized with a written promissory note. A promissory note will include, among other things, a repayment schedule, the interest rate, and defaults. The promissory note included in this packet gives the user a choice between three repayment options: on-demand, monthly installment and scheduled installment. You choose the option that is best for your situation. (continued ...)