Kansas Secured Promissory Note Template
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The Kansas Secured Promissory Note Template is a written agreement that is entered into by two parties – a lender and a borrower. The agreement is primarily used to establish the terms of a loan (such as the agreed upon interest rate, principal sum, payment schedule, etc.). Secured notes have the backing of the borrower’s pledged assets (as collateral), in contrast to unsecured notes which do not. The instructions in the section below can be used as a guide when drafting your note.

How to Write

Step 1 – Download the document in your preferred format.

Step 2 – The first paragraph of the note is required to contain the following details:

• Name of borrower
• Address of borrower
• Name and address of lender
• Principal sum
• Agreed upon interest rate

Step 3 – Payments:

• Select the payment method – “No Installments” – “Installments” – “Interest Only”
• Submit the installment amount if applicable.
• Enter the monthly OR weekly due date if applicable.

Step 4 – Due Date:

• Provide the final due date of the note.

Step 5 – Interest Due in Event of Default:

• Enter the updated interest rate (in the event of default).

Step 6 – Late Fees:

• Provide the time period the borrower will have after missing a payment before the lender will issue a late fee.
• Submit the amount of the late fee.

Step 7 – Acceleration:

• Submit the number of days the borrower will have to cure a default.

Step 8 – Security:

• Enter the pledged asset(s).

Step 9 –

• Fill in the date in the given format.
• The borrower must print/sign their name.
• Lender must print/sign their name.
• AND
• Submit the names of the witnesses.
• Witnesses are required to sign their names.