Secured Installment Note

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Secured Installment Note

Secured Installment Note

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

SECURED INSTALLMENT NOTE

FOR VALUE RECEIVED, the undersigned, {{borrower_name}} (the 'Borrower'), located at {{borrower_address}}, hereby promises to pay to the order of {{lender_name}} (the 'Lender'), located at {{lender_address}}, the principal sum of {{loan_amount}} ({{loan_amount_words}}) together with interest thereon at the rate of {{interest_rate}}% per annum.

REPAYMENT TERMS

The principal sum and accrued interest shall be repaid in {{number_of_installments}} equal monthly installments of {{installment_amount}} each, commencing on {{first_payment_date}} and continuing on the same day of each subsequent month until the entire amount of this Note is paid in full. All payments shall be made at the address of the Lender as stated above, or at such other place as the Lender may designate in writing.

SECURITY

To secure the repayment of this Note, the Borrower hereby grants to the Lender a security interest in the following described collateral (the 'Collateral'):

{{collateral_description}}

The Borrower warrants that it is the lawful owner of the Collateral, free and clear of all encumbrances, and has the right to grant this security interest. The Borrower agrees to execute any additional documents reasonably required by the Lender to perfect or maintain the security interest.

DEFAULT

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

a) Failure to pay any installment of principal or interest when due;

b) Breach of any covenant or agreement contained in this Note or any other document relating to the Collateral;

c) Insolvency or bankruptcy of the Borrower;

Then, and in any such event, the entire unpaid principal balance of this Note, together with all accrued interest and any other amounts payable hereunder, shall, at the option of the Lender, immediately become due and payable without notice or demand.

RIGHTS AND REMEDIES OF LENDER

Upon the occurrence of an Event of Default, the Lender shall have all rights and remedies available under law and equity, including, without limitation, the right to take possession of the Collateral, dispose of the Collateral, and apply the proceeds to the outstanding indebtedness. The Borrower agrees to pay all reasonable costs and expenses incurred by the Lender in enforcing this Note, including attorney's fees.

GOVERNING LAW

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

MISCELLANEOUS

a) This Note may not be amended or modified except in writing signed by both the Borrower and the Lender.

b) No waiver by the Lender of any default shall be effective unless in writing.

c) The Borrower waives presentment, demand for payment, notice of dishonour, and protest.

d) Time is of the essence for all obligations under this Note.

e) This Note constitutes the entire agreement between the parties and supersedes all prior discussions, negotiations, and agreements, whether oral or written.

SIGNATURES

IN WITNESS WHEREOF, the parties hereto have executed this Secured Installment Note as of {{date_of_note}}.

___________________________

{{borrower_name}} (Borrower)

Date: {{date}}

___________________________

{{lender_name}} (Lender)

Date: {{date}}