Promissory Note (Commercial Property Loan) (Lender-friendly)

This legal template, titled "Promissory Note (Commercial Property Loan) (Lender-friendly)," provides a comprehensive and legally binding document specifically tailored for commercial property loans. It aims to safeguard the interests of the lender by incorporating terms and conditions that are favorable to their position.

The template outlines the agreement between the lender (the party providing the loan) and the borrower (the party receiving the loan). It encompasses essential details regarding the loan amount, interest rate, repayment terms, and any collateral or security pledged against the loan.

As a lender-friendly contract, this template incorporates provisions that prioritize the lender's rights, such as provisions for acceleration of the loan, prepayment penalties, late payment fees, and default remedies. It also addresses potential risks associated with the loan, such as borrower insolvency, changes in ownership, or breaches of loan covenants.

With a clear and concise structure, this template ensures that both parties involved fully understand their obligations and the consequences for defaulting on the loan. By providing a comprehensive legal framework, it protects the lender's interests while maintaining fairness and legality. Users can customize the template to suit their specific requirements and jurisdictional regulations.