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Unsecured Promissory Note template

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Unsecured Promissory Note template Powered By Docstoc
					Unsecured Promissory Note
$___________ [CITY, STATE] [DATE] FOR VALUE RECEIVED, _____________________________ (hereafter, “Maker”), an individual [or type of business entity], promises to pay _____________________, an individual [or type of business entity] (hereafter, "Holder"), at [Street Address], [City, State] [Zip Code], or at such other place as Holder hereof may from time to time designate in writing, the principal sum of _________________ Dollars ($_______), with interest accruing on the unpaid principal at the rate of ____ percent (___%) per annum from _______, 20__ until paid. The aforementioned principal sum represents monies owed to __________________ for ________________________________________________. Principal and interest are payable in monthly installments due on or before the ______ (___) day of each month until paid in full, with the first such payment to be made on or before _______, 20__. In no event shall interest exceed the maximum amount permitted by law. Any amount collected in excess of the maximum legal rate shall be applied to reduce the principal balance. This Promissory Note may, in whole or in part, be prepaid without penalty before the maturity date hereof. Each payment shall first be credited against interest accrued and due at the time of receipt of payment, with the remainder credited against unpaid principal. Interest shall cease to accrue on any principal so credited. Should Maker default under or otherwise breach this Promissory Note and not cure said default or breach on or before the tenth (10th) day after Holder gives Maker written notice thereof, by personal delivery or certified mailing, all principal remaining unpaid and interest accruing thereon shall, at the option of Holder, become immediately due and payable to Holder. Notice shall be deemed given on the date of personal delivery or date of mailing, whichever applies. No delay or failure in giving notice of said default or breach shall constitute a waiver of the right of Holder to exercise said right in the event of a subsequent or continuing default or breach. Furthermore, in the event of such default or breach, Maker promises to pay Holder all collection and/or litigation costs incurred, including reasonable attorney fees and court costs, whether judgment is rendered or not. This Promissory Note has been entered into and shall be performed in ______ County, [State], and shall be construed in accordance with the laws of [STATE] and any applicable federal statutes or regulations of the United States. Any claims or disputes concerning this Note shall, at the sole election of Holder, be adjudicated in ________ [COUNTY, STATE]. Executed in the presence of: WITNESS _______________________ Name/Address _______________________ Name/Address
Disclaimer

[NAME OF COMPANY]

By:___________________________

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posted:2/13/2008
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Steve  Rossow Steve Rossow General Manager www.smallbusinesslawfirms.com
About I joined Moxy Media as Vice President of Business Development in 2007 and I am responsible for growing new media sales and developing opportunities for Moxy Media. I bring 25 years of sales, marketing and business development experience, applying technology, Internet products and services to consumers, SMB and Fortune 500 organizations. I joined Moxy Media from Eforcemedia, growing their lead generation business through strategic alliances. I was the Business Development Director for AVAYA, launching IP Telephony into the cable industry, Fortune 500 and SMB markets. I was also recruited to AT&T, getting its WorldNet service launched from scratch. As Worldnet’s first Business Development Director, I created strategic alliances with over 80 companies and created the “Internet for Everyone Sweepstakes.” I also launched Worldnet’s e-commerce initiatives. I left AT&T to become the Vice President of Business Development of iMall, Inc., a publicly-held e-commerce enabler. I played a pivotal role in a $14 million investment from First Data Corporation to build their e-commerce gateway and created the relationship and eventual sale of iMall to Excite@Home in 1999 for $565 million.