Promissory Note Template Oregon

Notice

This document serves as a standard agreement for lending arrangements within Oregon. It is provided solely for informational purposes and should not be considered legal advice. Users are encouraged to consult a qualified attorney familiar with Oregon law to customize and ensure compliance with local regulations. The creator assumes no liability for errors or consequences resulting from the use of this template without professional review.

Please note: This is a sample template for a Promissory Note specific to Oregon. Wording may vary based on your circumstances and applicable laws.

Sample Promissory Note (Oregon)

Parties:

Lender: Alice Johnson
Address: 789 Maple Street, Portland, OR 97201

Borrower: Bob Williams
Address: 456 Oak Avenue, Eugene, OR 97401

Loan Amount and Terms:

The Borrower promises to pay the Lender the principal sum of $5,000. The repayment shall be made in installments of $200, beginning on __________________ and continuing until the full amount is paid. Payments are due on the 1st of each month.

Interest Rate:

This loan shall accrue interest at a rate of 5% per annum, calculated monthly on the outstanding balance.

Security:

This Promissory Note is unsecured. The Borrower recognizes the obligation is personal and non-secured unless otherwise specified in a separate agreement.

Default:

In case of default, the Borrower shall be liable for all unpaid amounts, plus any applicable late fees and legal costs incurred to recover the debt.

Governing Law:

This agreement shall be governed by the laws of the State of Oregon.

Additional Provisions:

• Any amendments must be in writing and signed by both parties.
• Prepayment of the loan is allowed without penalty.
• This Note is binding upon the parties and their successors.

Portland, Oregon, ______________________