Montana Secured Promissory Note Template

TheĀ Montana Secured Promissory Note Template is an interest-bearing legal form that is used to outline the term length, interest rate, principal sum, and other terms of a loan. The document is entered into by a lender and borrower. Unlike secured notes, secured notes are not backed by a borrower’s pledged assets (i.e. collateral). Use the instructions below to learn the requirements of a promissory note.

How to Write

Step 1 – Download the template.

Step 2 – Enter the following into the opening paragraph:

  • Date
  • Name and address of borrower
  • Name and address of lender
  • AND
  • Provide the agreed upon principal sum/interest rate

Step 3 – Payments – Provide the following information:

  • Payment method (check the box of the corresponding method)
  • Installment amount (if required)
  • Monthly/weekly schedule (if applicable)

Step 4 – Due Date: Enter the note’s due date.

Step 5 – Interest Due in Event of Default:

  • Submit the interest percentage that will be applied to the note IF the borrower defaults on it.

Step 6 – Late Fees:

  • Fill in how long the borrower will have to make a past-due payment (before they will be charged a late fee).
  • Submit the amount that will be charged in the event of a missed/late payment.

Step 7 – Acceleration:

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

Step 8 – Security:

  • Fill in the borrower’s collateral.

Step 9 – Signatures:

  • Submit the date (of signing)
  • Name of borrower
  • Signature of borrower
  • Name of lender
  • Lender’s signature
  • Names and signatures of witnesses
Montana Secured Promissory Note - Adobe PDF - Microsoft Word

Montana Secured Promissory NoteAdobe PDFMicrosoft Word