Promissory Note-Line of Credit-Form

PROMISSORY NOTE
Up to $_____________
__________, Florida
________ __,
201_
FOR VALUE RECEIVED, ______________________, an individual (hereafter referred

to as “Maker”) promises to pay to the order of ________________________,
______________________, ____________, _____________ _______ (“Lender”), up to the
principal sum of _____________________________________ ($__________) (“Line of
Credit”). Interest shall be fixed at the rate of _______ percent (___%) per annum for the term of
the Line of Credit. Payments shall first be applied to interest and then to principal.
Amounts in multiple Five Thousand Dollars ($5,000.00) increments may be

drawn upon by Maker from ______ 1, 201_ through __________, 201_ upon two
(2) days prior written notice to Lender, up to the aggregate of the Line of Credit.
Such amounts, as drawn upon by Maker, shall accrue interest from the date drawn
upon until paid. Principal and interest shall be paid as follows:
__________________________________________________________________
__________________________________________________________________
This Promissory Note shall be due and payable on __________________ __,
200__, upon which date the entire principal balance, plus all accrued but unpaid
interest, shall be paid in full.
In the event the Maker shall fail to make such payment on account of interest or of
principal within fifteen (15) days after the same shall be come due and payable as is provided
herein, then Maker shall be subject to a late charge equal to ____ percent (___%) of any such
late amount. After default or after maturity of this Note, so long as such default remains
uncured, the Maker shall pay interest to the holder of this Note on any unpaid principal or
interest at a fixed rate equal to _____________ percent (___ %) per annum.
As to this Note, the Maker waives all notice of acceleration, presentment, protest and
demand, dishonor and non-payment of this Note, and expressly agrees that the maturity of this
Note, or any payment hereunder, may be extended from time to time without in any way
affecting the liability of the Maker.
Should it become necessary to collect this Note through an attorney, the Maker of this
Note hereby agrees to pay all costs and expenses of collection, including reasonable attorneys’
fees incurred to represent the Lender in any negotiations, litigation, trial, appeal, bankruptcy,
contest, dispute, suit or proceedings and post-judgment proceedings.
In no event shall any interest accrue or be payable which shall exceed the highest interest
rate allowed by law for the time such indebtedness hereunder shall be outstanding and unpaid, it
being the intention of the parties hereto not to contract for a greater rate of interest than allowed
by law. If, for any reason, including the acceleration of this Note, the total charges for interest
and any payments determined to be in the nature of interest are collected which exceed the
1
highest interest rate allowed by law, then without further agreement or notice the obligation to
be fulfilled shall automatically be reduced to such limit and all sums received by Lender in
excess of those lawfully collectible as interest shall be applied against the principal of the Line
of Credit immediately upon Lender’s receipt thereof, with the same force and effect as though
the payor had specifically designated such extra sums to be so applied to principal and Lender
had agreed to accept such extra payment(s) as a premium free prepayment or prepayments.
All payments of principal, interest and any other sums due shall be made during regular
business hours at the office of the Lender at its address hereinbefore set forth or at such other
place as the Lender may from time to time designate in writing.
Maker shall have the right to prepay the outstanding principal balance of this Note plus
accrued interest in whole or in part at any time without premium or penalty.
This Note shall be governed by and construed in accordance with the laws of the State of
Florida.
The unenforceability or invalidity of any provision of this Note shall not affect the
enforceability or the validity of any other provision herein and the invalidity or unenforceability
of any other provision of this Note.
In any litigation in connection with or to enforce this Note, the Maker irrevocably
consents to and confers personal jurisdiction on the Circuit Court of the 9 th Judicial Circuit in
and for Orange County, Florida or the United States courts in the Middle District of the State of
Florida, Orlando Division, and expressly waives any objections as to venue in any such courts.
Nothing contained herein shall, however, prevent Lender from bringing any action or exercising
any right within any other state or jurisdiction or from obtaining personal jurisdiction by any
other means available by applicable law.
This Note shall be binding upon and inure to the benefit of Maker and Lender and their
respective successors, assigns, heirs and personal representatives, provided, however, that no
obligations of the Maker hereunder can be assigned without prior written consent of Lender.
THIS WRITTEN PROMISSORY NOTE AND ANY OTHER DOCUMENTS

EXECUTED IN CONNECTION HEREWITH REPRESENT THE FINAL AGREEMENT
BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE
PARTIES.
Maker:
_________________________________
Signature
_________________________________
Printed Name
Lender:
2
_________________________________
Signature
_________________________________
Printed Name

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PROMISSORY NOTE

FOR VALUE RECEIVED, ______________________, an individual (hereafter referred

Amounts in multiple Five Thousand Dollars ($5,000.00) increments may be

THIS WRITTEN PROMISSORY NOTE AND ANY OTHER DOCUMENTS

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