Secured Lumpsum Promissory Note Agreement

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

PROMISSORY NOTE

FOR VALUE RECEIVED, the undersigned borrower, {{borrower_name}}, with an address at {{borrower_address}} (hereinafter referred to as "Borrower"), promises to pay to the order of {{lender_name}}, with an address at {{lender_address}} (hereinafter referred to as "Lender"), the principal sum of {{loan_amount}} ({{currency}} {{loan_amount_words}}) on or before {{due_date}} (hereinafter referred to as "Maturity Date").

INTEREST

Interest shall accrue on the outstanding principal balance at a rate of {{interest_rate}}% per annum. Interest shall be calculated on the basis of a 365-day year and the actual number of days elapsed. All interest shall be payable in a lump sum on the Maturity Date.

PAYMENT

The Borrower shall pay the entire principal sum and all accrued interest in a single lump sum payment on the Maturity Date. Payments shall be made in {{currency}} in immediately available funds to the Lender at the address specified above, or at such other place as the Lender may designate in writing.

SECURITY

This Promissory Note is secured by a security interest granted by the Borrower to the Lender in the following collateral: {{collateral_description}}. The Borrower hereby grants the Lender a security interest in the aforementioned collateral and agrees to execute any and all documents necessary to perfect this security interest, including but not limited to, a Security Agreement and UCC-1 financing statements, if applicable in the relevant jurisdiction.

DEFAULT

Upon the occurrence of any of the following events (each, an "Event of Default"):

a) Failure of the Borrower to pay the principal sum and/or accrued interest on the Maturity Date.

b) Failure of the Borrower to perform any other obligation under this Promissory Note or any related security agreement.

c) Any representation or warranty made by the Borrower herein or in any related document proving to be false or misleading in any material respect.

d) Insolvency or bankruptcy of the Borrower.

Upon an Event of Default, the entire unpaid principal sum and accrued interest shall, at the option of the Lender, become immediately due and payable without presentment, demand, protest, or further notice of any kind.

ACCELERATION

If the Borrower defaults on this Note, the Lender may declare the entire unpaid principal balance and all accrued interest immediately due and payable. The Lender shall have the right to proceed against the collateral to recover the outstanding debt.

COLLECTION COSTS

If this Promissory Note is placed in the hands of an attorney for collection after an Event of Default, the Borrower agrees to pay all costs of collection, including reasonable attorney's fees, whether or not suit is brought.

GOVERNING LAW

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

WAIVER

No waiver of any breach of any provision of this Promissory Note shall be deemed a waiver of any prior or subsequent breach of the same or any other provision. Failure of the Lender to exercise any right granted herein upon any default shall not be deemed a waiver of such right upon any subsequent default.

ENTIRE AGREEMENT

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

SIGNATURES

IN WITNESS WHEREOF, the Borrower has executed this Promissory Note on this {{day}} day of {{month}}, {{year}}.

_____________________________

{{borrower_name}}

Borrower

_____________________________

{{lender_name}}

Lender (Acknowledgment of Note)