Disclaimer
The following document serves as a standard financial agreement tailored for use within North Carolina. It is provided solely for informational purposes and does not constitute legal advice. Users should consult a qualified attorney familiar with local laws to ensure compliance and appropriateness for their specific circumstances. Laws and regulations may differ across jurisdictions, and modifications might be necessary. The responsibility for its use rests entirely on the user, and no liability is assumed for any errors, omissions, or consequences resulting from reliance on this template without professional review.
This sample promissory note template is for illustrative purposes only and may vary based on specific circumstances and applicable North Carolina laws. Adjust details as needed for your situation.
Promissory Note Example – North Carolina
Parties Involved:
Lender: Alice Johnson
Address: 789 Pine Street, Charlotte, NC 28202
Borrower: Michael Brown
Address: 456 Oak Avenue, Charlotte, NC 28203
Loan Amount and Terms:
The Borrower promises to pay the Lender the principal sum of $5,000, with an annual interest rate of 5%, payable in full by __________________. Payments shall be made in accordance with the schedule agreed upon below or as otherwise instructed by the Lender.
Payment Schedule:
The Borrower shall make monthly payments of $200 starting on __________________ and continuing on the 1st of each month until the total amount, including interest, is paid in full.
Collateral:
This loan is unsecured / secured by the following collateral: [describe collateral if applicable].
Terms and Conditions:
The Borrower shall make payments promptly, and late payments will incur a late fee of $25. Prepayment of the loan may be made at any time without penalty. This agreement is governed by the laws of North Carolina.
Date: ______________________
Alice Johnson (Lender)
Michael Brown (Borrower)