Promissory Note

THIS PROMISSORY NOTE ("Note") is made this 1st day of January, 2050, by and among the undersigned, Olivia Anderson, ("Maker"), whose address is Los Angeles, California, herein referred to as "Borrower" and the payee.

The Maker acknowledges their obligation to repay the principal sum of three thousand dollars ($3,000) to the payee. This Loan has been advanced by the payee on Jul 27, 1998, for the car balance.

Pursuant to the terms of this Note, the Maker promises to pay the payee the above mentioned amount on or before the due date stipulated. It is agreed that this Note shall be repaid in full including any additional charges or interests either in a lump-sum payment or in installments.

In the scenario where the Maker fails to make a payment by the stipulated due date, a penalty as decided between the Maker and Payee shall be applied to the said loan. This may include, but is not limited to, an increase in the interest rate, additional late fee charges, or legal actions taken to reclaim the debt.

The Maker understands that failure to pay by the agreed-upon terms could lead to legal action and detrimental impact on their credit. This Note is binding and enforceable in the court of law.

This Note is given in good faith, under the mutual understanding, that the total sum borrowed will be repaid by the Maker to the payee as per the terms and conditions outlined in the Note.

Signature

_______________________

Olivia Anderson (Maker)

_______________________

Payee

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