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This is an example of blank promissory note. This document is useful for conducting blank promissory note.
Resolution of Board of Directors for PROMISSORY NOTE For value received, the undersigned, (hereafter referred to as “Maker”) promises to pay to the order of , (hereinafter collectively referred to as “Holder”), at , or such other address as the Holder may designate, the principal sum of $___________ USD, with interest on the unpaid principal computed from __________, 200_, at the rate of thirteen (13%) percent per annum, to be repaid as follows: Maker agrees to pay principal of $____________with the then accrued interest on or before _________________________, and to make quarterly payments of interest on the principal amount beginning on the __ day of _________, 200_. There shall be no prepayment penalty for the principal amount of the debt, and Maker may prepay the then due principal and accrued interest, at any time. If Maker does not pay the principal or interest when due hereunder, the Holder may declare the total principal and interest for the year term, immediately due and payable. Failure to do so at any time shall not constitute a waiver of the right of the Holder hereof. Demand, protest and notice of non-payment and dishonor of this debt is waived by the Maker hereof. Should Maker fail to make any payment hereunder when required, Holder shall be entitled to pursue Maker for such non-payment and shall additionally be allowed the recovery all of it’s reasonable collection fees, including but not limited to it’s attorney’s fees, cost of litigation and all court costs. The terms of this Note and the collection hereof, shall be in governed in accordance with the laws of Nevada/California. Executed on this ___ day of ______ 200_. Choice Performance, Inc. OR Coaching Resource, Inc. Loral Langemeier / DIRECTOR Resolution of Board of Directors for RESOLUTION APPROVING LOAN TO CORPORATION For Coaching Resource, Inc. A California Corporation It was resolved that it is in the best interests of the corporation to borrow the following amount(s) from the following individuals: Amount $ 9,000 Name of Lender L/S Premier Properties, LLC The terms of __________ loan were included in a promissory note presented for approval at the meeting. The Board determined that these terms were commercially reasonable. The Board also determined that corporate earnings should be sufficient to pay back the loan(s) to the lender(s) according to the terms in the note(s) and that such repayment would not jeopardize the financial status of the corporation. Therefore, the Board approved the terms of __________ note and directed the treasurer to sign __________ note on behalf of the corporation. The secretary was directed to attach a copy of __________ note, signed by the treasurer, to this resolution and to place the resolution and attachment(s) in the corporate records book. Adopted by the Board of Directors on ___________, _ __. Loral Langemeier / DIRECTOR Resolution of Board of Directors for RELEASE OF PROMISSORY NOTE For Coaching Resource, Inc. A California Corporation The undersigned noteholder, L/S Premier Properties, LLC, in consideration of full payment of the promissory note dated 10/22/03 in the principal amount of $ 9,000 , hereby releases and discharges the borrower(s), L/S Premier Properties, LLC, from any claims or obligations on account of the note. Date: ____________________ Name of Noteholder: ____________________ By: ______________________________, Treasurer Signature: ____________________________________ Adopted by the Board of Directors on _________, . Loral Langemeier / DIRECTOR
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