Nevada Unsecured Promissory Note Template
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The Nevada Unsecured Promissory Note Template is a contractual form that is entered into by two parties (a lender and borrower). The document serves to outline the principal sum, interest rate, repayment method, and other terms of a loan. Unsecured notes do not require the borrower to pledge collateral (as opposed to secured notes). Because of this, unsecured notes are typically used for borrowers who have a relatively low default risk.

• Note: The document MUST be signed by all involved parties (borrower, lender/representative, witnesses) in order to be legally valid.

How to Write

Step 1 – Download the form.

Step 2 – The first paragraph of the note must contain the following:

• Date of note/agreement
• Name of borrower
• Name of lender
• Addresses of borrower and lender
• Principal sum
• Interest percentage

Step 3 – Payments – Select one of the three available payment methods:

• No Installments
• Installments
• Interest Only

Step 4 – The monthly or weekly payment schedule must be submitted (if the payment method is “Installments” or “Interest Only”).

Step 5 – Due Date:

• Enter the due date (of the full principal sum/interest/additional fees).

Step 6 – Interest Due in Event of Default:

• Submit what interest percentage shall be applied to the balance of the note if the borrower ends up defaulting on it (the note).

Step 7 – Late Fees:

• Fill in how long the borrower will have to make a payment (past the original due date).
• If the borrower does not make the payment within the period of time mentioned in this subsection, they will be subject to a late charge.
• Submit the late charge amount.

Step 8 – Acceleration:

• Enter the amount of time the borrower will have after defaulting on the note to “cure” the default.

Step 9 – Signatures:

• Provide the date in the supplied format.
• Enter the name of the borrower .
• Submit the name of the lender.
• Fill in the names of the witnesses.
• Borrower must sign the document.
• Lender must sign the document.
• Witnesses are required to sign the document.