PROMISSORY NOTE
THIS PROMISSORY NOTE (the "Note") is made this day of 05th January, 2050 by Liam Davis residing in Los Angeles, California, ("Maker"), promising to pay to the order of [Payee's Name], whose legal address is [Payee's Address], (the "Payee").
FOR VALUE RECEIVED and in the consideration of the mutual covenants and agreements hereinafter set forth, the Maker promises to pay to the Payee, or his/her lawful assigns, the principal amount of Three Thousand U.S. Dollars ($3,000.00) along with any accrued and unpaid interest thereon, under the terms and conditions set forth herein.
1. Payment
All payments under this Note must be made by the Maker to the Payee by the due date of July 27, 2050. If the full amount of Principal and Interest if applicable, is not received by the due date, the Maker agrees to pay late fee of [Insert Interest rate].
2. Prepayment
The Maker reserves the right at any time to prepay this Note in whole or in part without a prepayment penalty or premium.
3. Default
If the Maker does not make a payment within [Number] days of its due date, the Payee has the right to demand immediate payment of the then unpaid balance of this Note.
4. Governing Law
This Note shall be governed by and construed under the laws of the State of California.
5. Entire Agreement
This Note contains the entire agreement of the parties related to the subject matter of this Note, and supersedes all prior negotiations, understandings or agreements.
MAKER:
___________________
Liam Davis
PAYEE:
__________________
[Payee's Name]
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