Maine IOU (I Owe You)
I. Acknowledgment of Debt
I, [YOUR NAME], currently residing at [YOUR COMPANY ADDRESS], acknowledge that I owe a specified sum of money to the party named herein as the Lender. This acknowledgment creates a legal obligation for repayment as detailed in this document.
II. Borrower's Information
Borrower Name: [YOUR NAME]
Borrower Company: [YOUR COMPANY NAME]
Company Email: [YOUR COMPANY EMAIL]
Company Address: [YOUR COMPANY ADDRESS]
Phone Number: [YOUR COMPANY NUMBER]
Company Website: [YOUR COMPANY WEBSITE]
Social Media Page: [YOUR COMPANY SOCIAL MEDIA]
III. Amount and Terms of Loan
Principal Amount: [LOAN AMOUNT]
Loan Date: [LOAN DATE]
Repayment Due Date: [DUE DATE]
The above-mentioned sum shall bear an interest rate of [INTEREST RATE] per annum, commencing from [LOAN DATE] and continuing until fully paid on [DUE DATE] or upon earlier demand by the Lender.
IV. Repayment
The Borrower agrees to repay the total outstanding balance of the principal amount and accrued interest by the specified due date. Repayment shall be made in the form of [PREFERRED REPAYMENT METHOD], or as mutually agreed upon by both parties.
V. Representations and Warranties
The Borrower represents and warrants that this obligation is made in good faith and with the intent to repay fully according to the terms outlined herein.
VI. Default and Remedies
In the event of default in payment when due, as described above, the Borrower agrees to pay additional charges for late payment and any reasonable expenses incurred by the Lender in seeking repayment, including, but not limited to, legal fees and costs of collection.
VII. Governing Law
This IOU shall be governed by, and construed in accordance with, the laws of the State of Maine.
VIII. Signatures
Both parties agree to the terms outlined above and affix their signatures below as evidence of their acceptance of these terms.
Borrower's Signature:
Date: [DATE OF SIGNATURE]
Lender's Signature:
Date: [DATE OF SIGNATURE]
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