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Promissory Note Co-Borrowers
In consideration of value received, [Name] of [Address] and [Name] of [Address], hereinafter referred to as "Co-Borrowers", do hereby jointly and severally promise to pay to [Name] of [Address], hereinafter referred to as "Lender", the amount of [$------], upon which interest will accrue at [--%] percent per --------.
Co-Borrowers agree to pay in conformity with these terms: [Enumerate].
Co-Borrowers further agree:
(a) Such payments shall be first applied to interest and then to the principal.
(b) This Note may be paid in full at any time without penalty charges.
(c) Lender reserves the right to demand payment in full or in part, together with interest accrued, at any time and for any reason as Lender deems a breach of this contract.
In the event this Note shall be in default, and collection proceedings are instituted, then the Co-Borrowers agree to pay all reasonable attorney fees and costs of collection.
Payments not made within [--] days of due date shall be subject to a late charge of [$------].
The undersigned and all other parties to this Note, whether as endorsers, guarantors or sureties waive demand, presentment and protest and all notices thereto and further agree to remain bound, notwithstanding any extension, modification, waiver, or other indulgence by any holder or upon the discharge or release of any obligor hereunder or to this Note, or upon the exchange, substitution, or release of any collateral granted as security for this Note.
This Section for Notary:
STATE OF -------)
) ss: [Date]
COUNTY OF ------)
On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
[Name of Notary Public]
My commission expires: [date]