Promissory Note Template Maryland

Disclaimer

The provided document is intended solely as a general template for financial agreements in the state of Maryland. It does not constitute legal advice and should not be relied upon as a substitute for consulting a qualified attorney specializing in contracts or financial law within that jurisdiction. Laws and regulations may vary depending on local statutes, and modifications may be necessary to ensure compliance. The use of this template is the user’s sole responsibility, and we assume no liability for errors, omissions, or outcomes resulting from its application without professional review.

This sample Promissory Note in Maryland is provided for illustrative purposes only. Specific details should be tailored to your particular situation and legal advice is recommended.

Sample Promissory Note Template – Maryland

Parties:

Lender: Alice Johnson
Address: 789 Maple Street, Baltimore, MD 21201

Borrower: Robert Lee
Address: 456 Oak Avenue, Baltimore, MD 21202

Principal and Terms:

The Borrower promises to pay the Lender the principal sum of $5,000, with an annual interest rate of 5%, payable monthly. The repayment period begins on ____________________ and ends on ____________________.

Repayment Schedule:

The Borrower shall make monthly payments of $ ____________________, commencing on ____________________, until the total debt is satisfied.

Security:

This note is unsecured, or specify collateral if applicable: ____________________________.

Governing Law:

This agreement shall be governed by and construed in accordance with the laws of the State of Maryland. Any disputes shall be resolved through the courts of Baltimore County.

Additional Provisions:

• The Borrower shall make payments on or before the due dates as specified in the schedule.
• Prepayment in whole or in part may be made without penalty.
• Failure to make payment within 10 days of the due date shall constitute default under this note.

Baltimore, ______________________