Promissory Note (Commercial Property Loan) (Lender-friendly) (Without Loan Contract) (New York)

This legal template refers to a Promissory Note specifically designed for commercial property loans in the state of New York. The template is labeled as "Lender-friendly," indicating its alignment with the interests and preferences of the lending party. Unlike a loan contract, this template solely focuses on outlining the terms and conditions of the loan repayment without including broader provisions typically found in a loan contract. It acts as an agreement between the borrower and the lender, establishing the borrower's promise to repay the loan amount, including any applicable interest and fees, within specified timeframes and conditions. The Promissory Note serves as a legally binding document that provides clarity and certainty for both parties involved in the commercial property loan transaction.