DIY Legal Forms

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General Promissory Note With Interest On Unpaid Payments

[$------]

[Place of Making], [Date of Making]

For value received, we, [Names], of [Address] and [Name(s)], of [Address], jointly and severally, promise to pay to the order of [Payee], of [Address], the sum of [$------], with interest from [Date], at the rate of [--%] percent annually until [Date], the due date of this promissory note.

If full payment of the principal and interest is not made when due, the amount of the unpaid interest shall be added to the principal of the loan evidenced by this promissory note, and both the unpaid interest and the principal shall then bear interest at [--%] percent annually until paid.

Signature

[Name of Maker]

*** If Required By State Law ***

This Section for Notary:

Acknowledgment

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.

[Signature]

[Name of Notary Public]

My commission expires: [date]

(Seal)