Interest-Only Promissory Note

Date:
Borrower Name:
Borrower Address:
Lender Name:
Lender Address:
Principal Amount ($):
Annual Interest Rate (%):
Maturity Date:
Interest Payment Due:

1. Promise to Pay

For value received, the undersigned Borrower promises to pay to the order of the Lender the principal sum listed above, together with interest on the unpaid principal balance at the annual interest rate specified above.

2. Interest Payments

Borrower shall pay interest only on the outstanding principal at the rate stated above. Interest payments shall be due as specified until the maturity date, when the entire balance of principal and accrued interest shall be due in full.

3. Prepayment

4. Default

5. Governing Law


Borrower's Signature
Date

Lender's Signature
Date