Tennessee Secured Promissory Note Template
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The Tennessee Secured Promissory Note Template is a downloadable legal form (download links at the top of this page). The document, entered into by a lender/borrower, outlines the principal sum, interest rate, and other terms of a loan. In order for the document to be legally valid, it must be signed by the borrower, lender, and witnesses. Use the guide posted below to learn how to fill the template out in the proper manner.

How to Write

Step 1 – Download the template.

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

• Date
• Name of borrower
• Address of borrower
• Name/address of lender
• Amount of loan/note
• Interest rate

Step 3 – Payments – The note must contain the following payment information:

• Method (“No Installments” – “Installments” – “Interest Only”).
• Installment amount*
• Installment frequency*

*If applicable

Step 4 – Due Date: Submit the date in which the borrower has to repay the principal sum.

Step 5 – Interest Due in Event of Default:

• Provide what the borrower will have to pay (in regards to interest) if they default on the note.

Step 6 – Late Fees:

• Fill in the period of time that will be provided to the borrower to make a past-due payment.
• Enter the late fee that the borrower must pay if they do not make a past-due payment within the specified time period.

Step 7 – Acceleration:

• This subsection must be filled in with the period of time that the borrower will have to cure a default on the loan. If the borrower does not cure the default within this time period, the lender can take legal action against them.

Step 8 – Security:

• Fill in a description of the secured assets.

Step 9 – Signatures – Provide the following:

• Date
• Names of lender, borrower, and witnesses.
• Signatures of lender, borrower, and witnesses.