Georgia Promissory Note Template
This Promissory Note ("Note") is made as of the _____ day of __________, 20____, by and between:
Borrower: ____________________________________________
Address: ____________________________________________
and
Lender: ______________________________________________
Address: ____________________________________________
1. Principal Amount: The Borrower promises to pay the Lender the principal sum of $__________________.
2. Interest Rate: This Note shall bear interest at a rate of __________ % per annum.
3. Payment Schedule: Payments shall be made according to the following schedule:
- Initial payment of $_____________ on or before __________, 20____
- Subsequent payments of $_____________ due on the _____ day of each month for _____ months.
4. Late Payments: A late fee of $__________ shall apply if payment is not received within _____ days of the due date.
5. Prepayment: The Borrower has the right to prepay this Note without any penalty.
6. Governing Law: This Note shall be governed by the laws of the State of Georgia.
7. Severability: If any provision of this Note is found to be unenforceable, the remaining provisions shall remain in full force and effect.
8. Entire Agreement: This Note constitutes the entire agreement between the parties and supersedes any prior agreements.
IN WITNESS WHEREOF, the parties have executed this Promissory Note as of the date first above written.
Borrower's Signature: ____________________________ Date: _______________
Lender's Signature: ____________________________ Date: _______________