Promissory Note for Payment
This Promissory Note ("Note") is made and entered into this first day of January 2050, by and between AVA MARTIN, residing at Makebelieve County, 12345 (herein referred to as the "Maker"), and the Holder of this Note.
FOR VALUE RECEIVED, the Maker promises to pay to the order of the Holder, the principal sum of THREE THOUSAND DOLLARS ($3,000) without interest, payable on the 27th of July 2000. The Maker will make such payments as are specified herein.
This Note is for a debt in the amount of the initial payment, resulting from the Maker's unpaid car balance.
Payment Terms
The balance of the Principal Sum and any unpaid interest is due and payable on July 27, 2000. Payment will be made to the Holder at such place as the Holder may designate in writing.
Default
In the event of default in the payment of this Note when due, the entire remaining principal sum, and any accrued and unpaid interest thereon, shall at once become due and payable at the option of the Holder.
Terms and Conditions
The Maker hereby agrees and acknowledges that the terms and conditions of the Note may be extended or altered by the Holder without releasing the Maker from their responsibilities and obligations under this Note.
Governing Law
The terms of this Note shall be construed in accordance with the laws of the state in which it is executed.
Delivery and Acceptance
The delivery of this Note by the Maker to the Holder constitutes an acceptance by the Maker of the terms and conditions set forth herein. The Maker acknowledges their understanding of these terms and conditions and agrees to be bound thereby.
IN WITNESS WHEREOF, this Note has been executed and delivered by the Maker this first day of January 2050.
Maker:
______________________
Ava Martin
Holder:
______________________
Signature and Printed Name of Holder
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