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Demand Note
DEMAND NOTE
FOR VALUE RECEIVED, the borrower, [Name of the borrower], residing at [Address of the borrower], who has executed this note below shall pay to [Name of the lender] [the lender or his or her assignee] the principle amount of [Amount of the principle in letters] dollars $[Amount of the principle in numbers], together with interest calculated at [Interest being charged in letters] percent [Interest being charged in numbers] %, per year on the outstanding balance. The entire amount, principal and interest, shall be due and payable ON DEMAND by holder of this note. Failure to make a payment by due date shall be considered a default of the loan. Should a default exist for more than [ [Period of default] ] days, the borrower agrees to pay the holder of this note reasonable costs of collection including attorney fees, as authorized by state law.
Borrower: Date