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General Promissory Note With Interest
GENERAL PROMISSORY NOTE WITH
INTEREST ON UNPAID PAYMENTS
$ [Amount of Note]
[place of making]
[date of making]
For value received, we, [Name of first payor], of [address of first payor], [city of first payor], [state of first payor], and [Name of second payor], of [address of second payor], [city of second payor], [state of second payor], jointly and severally, promise to pay to the order of [Name of payee], of [address of payee], [city of payee], [state of payee], the sum of $[Amount of Note] Dollars, with interest from [date interest starts accruing], at the rate of [Interest rate on note]% percent annually until [date interest stops accruing], the due date of this promissory note. If full payment of the principal and interest is not made when due, the amount of the unpaid interest shall be added to the principal of the loan evidenced by this promissory note, and both the unpaid interest and the principal shall then bear interest at [Interest on unpaid amounts]% percent annually until paid.
[Signature of makers]