Free Professional Notary IOU

Date of Agreement:

September 15, 2050

Parties Involved:

• Creditor (Lender):
  Name: John Doe
  Address: 123 Elm Street, Springfield, IL 62704
  Phone: 222 000 8888

• Debtor (Borrower):
  Name: [YOUR NAME]
  Address: 3124 Elm Drive, Garden City NY 10021
  Phone: 222 555 7777

Amount of Debt:

$5,000.00

Terms of the Loan:

1. Interest Rate:

   • The interest rate applied to this loan shall be 5% per annum.

2. Payment Schedule:

   • Payments shall be made as follows:

     • $500.00 due on the 15th day of each month

     • Payments continue until the total amount is paid in full.

3. Late Fees:

   • A late fee of $50.00 will be applied if payment is not received within 10 days of the due date.

Acknowledgment of Debt:

I, [YOUR NAME], acknowledge that I owe the total amount of $5,000.00 to John Doe as outlined in this IOU. I understand that failure to adhere to the terms stated above may result in legal action.

Signatures:

John Doe
Creditor

September 15, 2050

[YOUR NAME]

Debtor

September 15, 2050

Notary Public Section:

State of Illinois
County of Sangamon

Subscribed and sworn to before me this 15th day of September, 2050.

Notary Public
My Commission Expires: June 30, 2057

Additional Notes:

• This IOU may be used as evidence in legal proceedings if necessary.

• Both parties should retain a copy of this document for their records.

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