North Carolina Secured Promissory Note Template
	Adobe PDF MS Word

The North Carolina Secured Promissory Note Template may be downloaded via the links posted on this page. The templates are available in two different formats: .PDF and Word. The templates are simple, straightforward forms that can be filled out in a matter of minutes. Promissory notes cover the various terms of a loan. Secured promissory notes require that the borrower pledge some form of collateral (in exchange for receiving a loan from the lender).

How to Write

Step 1 – Download the document in the file format of your choice.

Step 2 – Enter the following details:

• Date
• Name/address of borrower
• Name/address of lender
• Principal sum
• Interest percentage

Step 3 – Payments:

• Provide the borrower’s method of repayment.
• Enter the installment amount (if applicable).
• Submit the monthly/weekly installment schedule (if required).

Step 4 – Due Date:

• Fill in the due date of the principal sum.

Step 5 – Interest Due in Event of Default:

• This subsection details the interest rate that the borrower will be charged if they default on the loan.

Step 6 – Late Fees:

• The “Late Fees” subsection outlines how long the borrower will have (after missing a scheduled payment) before a late fee can be charged by the lender.
• Submit how much the borrower will be charged should they miss a scheduled payment.

Step 7 – Acceleration:

• Enter how much time the borrower will have to cure a default. Submit the time in days (numerical format).

Step 8 – Security:

• Fill in the collateral/security of the borrower.

Step 9 – Signatures – The following information is required in order for the form to be legally enforceable:

• Date
• Names of borrower, lender, witnesses
• Signature of borrower
• Signature of lender
• Signatures of witnesses