Demand to Pay Promissory Note

Sender Information

{{company_name}}

{{company_address}}

{{company_phone_number}}

{{company_email}}

{{company_website}}

Date

{{date}}

Recipient Information

To: {{borrower_name}}

{{borrower_address}}

Subject

DEMAND FOR IMMEDIATE PAYMENT OF PROMISSORY NOTE

Body of Demand

Dear {{borrower_name}},

This letter serves as a formal demand for immediate payment of the outstanding balance on the Promissory Note dated {{original_note_date}} (the "Note") between {{lender_name}} (the "Lender") and {{borrower_name}} (the "Borrower"). A copy of the original Promissory Note is attached hereto for your reference.

The original principal amount of the Note was {{currency}}{{original_principal_amount}}. As of the date of this letter, the outstanding principal balance is {{currency}}{{outstanding_principal_balance}}. Additionally, accrued interest totaling {{currency}}{{accrued_interest}} is due and payable, calculated at a rate of {{interest_rate}}% per annum as stipulated in the Note.

The Note explicitly states that the entire outstanding balance, including principal and any accrued interest, becomes immediately due and payable upon the occurrence of a default event, specifically {{reason_for_demand_e.g._failure_to_make_scheduled_payment}}. This event occurred on or about {{date_of_default_event}}.

Therefore, a total sum of {{currency}}{{total_amount_due}} (principal + interest) is now immediately due and payable. You are hereby demanded to remit the full outstanding amount within {{number_of_days}} ({{number_of_days_in_words}}) days from the date of this letter.

Consequences of Non-Payment

Please be advised that failure to remit the full payment within the specified timeframe will result in further legal action, without further notice. Such actions may include, but are not limited to, commencing a lawsuit to recover the outstanding debt, reporting the default to credit bureaus, and pursuing all other available remedies under the law. You will be responsible for all legal fees, collection costs, and any other expenses incurred by the Lender in enforcing its rights under the Note.

Payment Instructions

Payment should be made in the form of a {{payment_method_e.g._cashier's_check,_wire_transfer}} payable to {{lender_name}}. Please send payment to the following address:

{{lender_payment_address}}

For wire transfer instructions, please contact {{contact_person}} at {{contact_phone_number}} or {{contact_email}}.

Contact Information

If you have any questions regarding this demand for payment or wish to discuss a repayment plan, please contact {{contact_person}} at {{contact_phone_number}} or {{contact_email}} immediately.

Acknowledgement

This is a serious matter and requires your prompt attention. We urge you to take this demand seriously and act accordingly to avoid further complications.

Sincerely

{{lender_name}}

By: ________________________

Name: {{lender_authorized_signatory_name}}

Title: {{lender_authorized_signatory_title}}