Balloon Note

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

BALLOON NOTE

**Principal Amount:** {{principal_amount}}

**Issue Date:** {{issue_date}}

**Maturity Date:** {{maturity_date}}

**Borrower:** {{borrower_name}} (hereinafter referred to as the "Borrower")

**Lender:** {{lender_name}} (hereinafter referred to as the "Lender")

PROMISE TO PAY

FOR VALUE RECEIVED, the undersigned Borrower, {{borrower_name}}, promises to pay to the order of {{lender_name}} (the "Lender"), the principal sum of {{principal_amount}} ({{principal_amount_words}}) together with interest at the rate of {{interest_rate}} percent ({{interest_rate}}%) per annum, on the terms and conditions set forth below.

INTEREST PAYMENTS

Interest only payments shall be made by the Borrower to the Lender on a {{payment_frequency}} basis, commencing on {{first_payment_date}} and continuing until {{balloon_payment_date}}. Each interest payment shall be in the amount of {{interest_payment_amount}}.

BALLOON PAYMENT

The entire outstanding principal balance of this Note, together with all accrued and unpaid interest, shall be due and payable in full on the Maturity Date, {{maturity_date}} (the "Balloon Payment Date"). This single payment shall constitute the "Balloon Payment".

DEFAULT

Upon the occurrence of any of the following events (each, an "Event of Default"): (a) failure of the Borrower to pay any amount due under this Note when due; (b) breach by the Borrower of any other term or condition of this Note; (c) insolvency or bankruptcy of the Borrower; then the entire principal amount remaining unpaid, together with accrued interest and all other amounts payable hereunder, shall, at the option of the Lender, become immediately due and payable without notice or demand.

GOVERNING LAW

This Note shall be governed by and construed in accordance with the laws of {{jurisdiction}}.

ENTIRE AGREEMENT

This Note constitutes the entire agreement between the Borrower and the Lender with respect to the subject matter hereof and supersedes all prior discussions, negotiations, and agreements, whether oral or written.

SIGNATURES

IN WITNESS WHEREOF, the Borrower has executed this Balloon Note as of the Issue Date.

_____________________________

{{borrower_name}}

{{borrower_title}}

_____________________________

{{lender_name}}

{{lender_title}}

Date: {{signature_date}}