Date I, [borrower’s name] at [borrower’s address], hereby promise to pay back, in full, the borrowed amount of [borrowed amount] plus interest, to [lenders’ name] at [lender’s address]. This money will be used for [purpose of borrowed money]. The first payment in the amount of [amount] plus [%] interest, must be paid by [date of first payment], and on the same date each month after, until the full amount is paid back, which must be no later than [date when full amount is due]. If I fail to pay back the borrowed amount by the agreed-upon date, [lender] will be entitled to [%] interest each month after that in addition to the interest already agreed upon. If I am unable to pay the interest or the owed amount, [lender] will be guaranteed [goods or services] worth [amount of goods or services]. If I miss a payment or am late for a payment, [%] more interest will be added onto the already agreed-upon interest rate. As the borrower, I am aware of the right to be informed that the note can be transferred by the lender to another party. The original terms and agreement will remain effective, but the debt will be payable to a different party, which will be agreed upon at the time of transfer. Thank you for your cooperation. Signed, [borrower’s signature] [borrower’s name] [borrower’s phone number] [witness’s signature] [witness’s name] [witness’s address and phone number] [lender’s signature] [lender’s name] [lender’s phone number]