Promissory Note
(Acquisition Loan) (Pro-Lender) (PA)

Summary

This template is a promissory note for use in an acquisition loan transaction to evidence the indebtedness of a borrower to a lender secured by real property located in Pennsylvania. This template includes practical guidance, drafting notes, and alternate and optional clauses. The promissory note should include the name of the maker, name of the payee, principal amount of the loan, maturity date and the interest rate of the loan. Other terms may be included as stand-alone provisions in the promissory note or incorporated by reference from other loan documents. For a general discussion on promissory notes, see Promissory Notes (Acquisition Loan). For more on acquisition loans in Pennsylvania, see Commercial Real Estate Acquisition Loan Resource Kit (PA). For a full listing of content relating to promissory notes for use in various practice areas, see Promissory Notes Resource Kit (Small to Mid-Sized Law).