Promissory Note Form - Colorado Real Estate Commission printable pdf download

The printed portions of this form, except dif ferentiated additions, have been approved by the Colorado Real Estate Commission.

(NTD81-10-06) (Mandatory 1-07)

IF THIS FORM IS USED IN A CONSUMER CREDIT TRANSACTION, CONSULT LEGAL COUNSEL.

THIS IS A LEGAL INSTRUMENT. IF NOT UNDERSTOOD, LEGAL, TAX OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNING.

PROMISSORY NOTE

U.S. $_______________________

__________________________________, Colorado

Date: _____________________________________

1. FOR VALUE RECEIVED, the undersigned (Borrower) promise(s) to pay

(Note Holder) or order, the principal sum of

Dollars,

with interest on the unpaid principal balance from

, until paid, at the rate

of _______ percent per annum. Principal and interest shall be payable at

or such other place as Note Holder may designate, in ____________ payments of

Dollars (U.S. $__________________),

due on the _________ day of each _________________________, beginning _________________________________.

Such payments shall continue until the entire indebtedness evidenced by this Note is fully paid; provided, however , if

not sooner paid, the entire principal amount outstanding and accrued interest thereon, shall be due and payable on

_______________________________________________________________________________________________.

2. Borrower shall pay to Note Holder a late char ge of _______% of any payment not received by Note Holder within

_______ days after the payment is due.

3. Payments received for application to this Note shall be applied first to the payment of late charges, if any, second to

the payment of accrued interest at the default rate specified below , if any, third to accrued interest first specified above,

and the balance applied in reduction of the principal amount hereof.

If any payment required by this Note is not paid when due, or if any default under any Deed of Trust securing this

Note occurs, the entire principal amount outstanding and accrued interest thereon shall at once become due and payable

at the option of Note Holder (Acceleration); and the indebtedness shall bear interest at the rate of _______ percent per

annum from the date of default. Note Holder shall be entitled to collect all reasonable costs and expense of collection

and/or suit, including, but not limited to reasonable attorneys’ fees.

Borrower may prepay the principal amount outstanding under this Note, in whole or in part, at any time without

penalty except

Any partial prepayment shall be applied against the principal amount outstanding and shall not postpone the due date of

any subsequent payments or change the amount of such payments.

6. Borrower and all other makers, sureties, guarantors, and endorsers hereby waive presentment, notice of dishonor

and protest, and they hereby agree to any extensions of time of payment and partial payments before, at, or after maturity .

This Note shall be the joint and several obligation of Borrower and all other makers, sureties, guarantors and endorsers,

and their successors and assigns.

No. NTD81-10-06.

PROMISSORY NOTE

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Promissory Note Form - Colorado Real Estate Commission