Arizona Secured Promissory Note

Secured notes require that the borrower provide collateral.

Arizona secured promissory note.

Arizona promissory notes may be secured or unsecured. The arizona secured promissory note is a contractual document that is entered into by a lender and a borrower. Because the agreement is secured the lender has a form of security in the possible outcome the borrower defaulting on the agreement. Both the secured and unsecured versions record the parties personal information such as their names and addresses as well as the specifics of the agreement such as interest rates final due dates and installment options.

The arizona secured promissory note is a documented promise stating one party the lender will pay another party the borrower a previously established amount of money in exchange for the same amount of money in addition to interest. When a promissory note is secured it means that the borrower promises that if they do not pay off the loan that will give over some piece of property known as collateral to the lender to satisfy at least part of the loan. Arizona secured promissory note author. The arizona promissory note templates are documents that solidify the act of a loan being offered by the lender to the borrower.

This form allows the user to choose whether or not the loan will be secured or unsecured and the method of payment.