Promissory Note Template Texas

Disclaimer

The provided document template is intended solely as a general example for informational purposes. It does not constitute legal advice and should not be relied upon as a substitute for consulting a qualified attorney familiar with state-specific lending laws and regulations. Legal requirements may vary depending on jurisdiction, and adjustments may be necessary to ensure compliance with local statutes. The use of this template is the sole responsibility of the user, and we assume no liability for any errors, omissions, or consequences arising from its use without professional review.

Please note: This is a sample template for educational purposes only. Exact wording may vary based on specific circumstances and legal advice.

Promissory Note Example – Texas

Parties Involved:

Lender: Michael Johnson
Address: 789 Oak Street, Austin, TX 73301

Borrower: Sarah Lee
Address: 456 Pine Avenue, Austin, TX 73302

Loan Amount and Terms:

The Borrower promises to pay the Lender the principal sum of $10,000, with interest at an annual rate of 5%, starting on ____________________ and payable in installments as follows: ____________________.

Repayment Schedule:

The Borrower shall make monthly payments of $ ____________________, beginning on ____________________, until the total debt is paid in full. Payments shall be made by check, electronic transfer, or another mutually agreed method.

Security:

This loan is [unsecured / secured by the following collateral: ____________________].

Governing Law:

This note shall be governed by the laws of the State of Texas. Any disputes shall be resolved in the appropriate courts of Travis County, Texas.

Additional Terms:

• The Borrower shall pay late fees if payments are overdue by more than 10 days.
• This agreement constitutes the entire understanding between the parties and supersedes prior agreements.
• Any modifications must be in writing and signed by both parties.

Austin, Texas, ______________________