EARNEST MONEY PROMISSORY NOTE
$__________________[Amount of Note] This promissory note (the “Note”) is made and effective _____________ [Date], by and between ____________________, an [individual] [corporation] [limited liability company] [etc.] (the “Buyer”), and _______________________, an [individual] [corporation] [limited liability company] [etc.] (the “Payee,” and together with the Buyer each a “Party” and collectively the “Parties”).
1.
PROMISE OF PAYMENT.
FOR VALUE RECEIVED, the Buyer promises to pay to the Payee, at _______________________ [Address], _________[City], ___ [State] __________ [Zip Code], or at such other place as the Payee may designate in writing from time to time, the principal amount of _________________ Dollars ($_______). 2. EARNEST MONEY.
This Note is evidence of the obligation of the Buyer to pay earnest money for that certain real estate purchase agreement (the “Purchase Agreement”) by and between the Buyer and __________ (the “Seller”) on the following real property: ________________________________________________________________________ _______________________________________________________________________ (the “Property”). 3. PAYMENT.
Select only one option: Option 1 Immediately after the Seller and Buyer agree that the conditions, contingencies, an