 | Oregon Promissory Note Templates |
The Oregon promissory note templates can be downloaded in Word or .PDF format. The .PDF template can be filled out using Acrobat (or any program that can edit .PDF files). Both secured and unsecured promissory note templates are available. The primary difference between the two is that secured notes must contain a subsection where the borrower pledges to provide collateral to the lender. The collateral is used as security. In the event of a default on the loan, the lender can take the borrower to court in order to gain possession of the pledged assets.
Usury Rate – Under § 82.010 – loans less than $50,000 have a maximum interest rate of twelve percent (12%), or up to 5% over the Federal Reserve’s commercial paper discount rate. For loans over $50,000 it’s recommended to use Oregon’s default legal interest rate of nine percent (9%).
Oregon Secured Promissory Note Template
The Oregon Secured Promissory Note Template is a legal form that is designed to be used when drafting a secured promissory note. Secured notes, in contrast to unsecured ones, require the backing of security (i.e. collateral). The instructions posted below are intended to be a guide on how to properly draft the note. Note: Once the […]
Oregon Unsecured Promissory Note Template
The Oregon Unsecured Promissory Note Template is a contractual form that is to be used when creating an unsecured promissory note. The document can be downloaded as .PDF or MS Word file. The note outlines the specific terms of a loan including the loaned amount, interest rate, borrower’s method of repayment, payment schedule, etc. Use the […]
