Promissory Note

Description: This is an agreement between a lender and a borrower, whereby the borrower promises to pay the lender a predetermined sum of money at some point in the future. The agreement sets forth the interest rate that is added to any unpaid balance. Under this particular promissory note, the borrower provides additional security for the repayment of the loan by providing the lender with a security interest in certain assets. This document should be used by individuals or entities that want to enter into a loan agreement using certain assets as security for the repayment of a loan.
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