THE PARTIES: This Promissory Note Guarantee (“Note”) made on [DATE], is by and between:
- Borrower: [DeLuz & Associates REI, LLC] with a mailing address of [Waikoloa, Hawaii 96738] (“Borrower”), and
- Lender: [LENDER’S NAME] with a mailing address of [MAILING ADDRESS] (“Lender”).
LOAN TERMS: The Lender agrees to lend the Borrower under the following terms:
- Principal Amount: $[AMOUNT BORROWED]
- Interest Rate: [100 ]% compounded per: (6 months)
- Borrower to Receive the Borrowed Money on: [DATE]
– A LUMP SUM. The Borrower shall repay the Borrowed Money as a lump sum, in full, in the amount of $[AMOUNT] (principal and interest) by [DATE] (“Due Date”).
INTEREST DUE IN THE EVENT OF DEFAULT: In the event the Borrower fails to pay the Note in full on the Due Date, the unpaid principal shall accrue interest at the maximum rate allowed by law until the Borrower is no longer in default.
- ATTORNEYS’ FEES AND COSTS: Borrower shall pay all costs incurred by Lender in collecting sums due under this Note after a default, including reasonable attorneys’ fees. If Lender or Borrower sues to enforce this Note or to obtain a declaration of its rights hereunder, the prevailing party in any such proceeding shall be entitled to recover its reasonable attorneys’ fees and costs incurred in the proceeding (including those incurred in any bankruptcy proceeding or appeal) from the non-prevailing party.
- WAIVER OF PRESENTMENTS: Borrower waives presentment for payment, a notice of dishonor, protest, and notice of protest.
- INTEGRATION: There are no agreements, verbal or otherwise that modify or affect the terms of this Note. This Note may not be modified or amended except by a written agreement signed by Borrower and Lender.
CONFLICTING TERMS: The terms of this Note shall control over any conflicting terms in any referenced agreement or document.
NOTICE: Any notices required or permitted to be given hereunder shall be given in writing and shall be delivered (a) in person, (b) by certified mail, postage prepaid, return receipt requested, (c) by facsimile, or (d) by a commercial overnight courier that guarantees next day delivery and provides a receipt, and such notices shall be made to the parties at the addresses listed above.
- EXECUTION: The Borrower executes this Note as a principal and not as a surety. If there is a Co-Signer, the Borrower and Co-Signer shall be jointly and severally liable under this Note.
- GOVERNING LAW This note shall be governed under the laws in the State of [Hawaii].
- ADDITIONAL TERMS & CONDITIONS: [ADDITIONAL TERMS & CONDITIONS]
- ENTIRE AGREEMENT: This Note contains all attachments or addendums. This Note replaces all previous discussions, understand the terms agreed to by the parties relating to its subject matter, including any ngs, and oral agreements. The Borrower and Lender agree to the terms and conditions and shall be bound until the Borrower repays the Borrowed Money in full.
Borrower Signature: __________________________________________________________________Date: ____________
Print Name: ____________________________________________________________________________________
Lender Signature: __________________________________________________________________Date: ____________
Print Name: ____________________________________________________________________________________