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Promissory Note

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Indicate the province or territory in which this agreement is created. This determines the laws applicable to the agreement.

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PROMISSORY NOTE
(Alberta)

Amount: $________

Date: ________

FOR VALUE RECEIVED, the undersigned borrower,________, having a primary address at the following:

________

(hereinafter the "Borrower")


hereby promises to pay the lender, ________, having a primary address at the following:

________

(hereinafter the "Lender")

the sum of $________ (________) ("Principal Amount") with interest at the rate of ________% per annum ("Interest") on the unpaid principal in accordance with the terms and conditions set forth below.


1. Terms of Repayment

General Repayment: The Principal Sum plus all accrued interests will be paid back in full on ________ ("Due Date"). The Borrower shall ensure that the entirety of the Principal Sum and all interests will be returned by the Due Date.

The Borrower shall pay back the Lender by cheque sent to the address of the Lender specified above.

Past Due Interest: If the Due Date passes and the entirety of the Principal Sum with accrued interest has not been paid back, a higher interest rate of ________% per annum on the unpaid amount will be charged until all the funds owing are recouped in full.


2. Default

The following events constitute default of this Promissory Note and upon their occurrence, the entirety of any remaining amount due shall become immediately payable:

a) The Borrower's insolvency;

b) The Borrower's death, incompetency; liquidation, or dissolution;

c) The Borrower's making of a general assignment for the benefit of Borrower's creditors;

d) The Borrower's filing of any bankruptcy proceedings; or

e) Any application for the appointment of a receiver for the Borrower.


3. Collections costs

Should the Borrower default on completing any obligation contained within this Promissory Note, including, but not limited to, if any of the circumstances in the Default provision occur, the Lender may declare the entire amount remaining due immediately. Any and all costs or expenses incurred by the Lender in enforcing the obligations of this Promissory Note as a result of the Borrower's default, including any legal fees or costs, will be added to the remaining amount due and must be paid immediately by the Borrower.


4. Security

This Promissory Note is secured by the following collateral ("Collateral"):

________

Until this Promissory Note is paid in full, Borrower grants Lender a security interest in the Collateral. Borrower hereby agrees to list Lender as a lender on the title of the Security, regardless of Lender's choice to perfect the security interest.

If the Borrower defaults on this Promissory Note and does not make payment for seven (7) days after it is demanded by Lender, the Collateral will revert to Lender and all rights in the ownership of such Collateral will belong to Lender.


5. Governing Law

This Promissory Note will be governed exclusively in accordance with the laws of the province of Alberta, and the laws of Canada in effect in the province of Alberta.

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c) affa faadaaf fc cbp dfcefafcb facf ff acfba bbabbcfaacafa, ap acbfbpfbd facf dfcefafcb fc faa afbfaba aafabf baaaaacfp fc acaa ff abbcfaacafa, cf fb facf acbfbfacffcb fa bcf dafafffab ap fca, ap bfafadcfbfbd facf dfcefafcb;

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c) by holding that any unenforceable provision will remain as written in any circumstances other than those in which the provision is held to be unenforceable;

d) if modifying or disregarding the unenforceable provision would result in a failure of an essential purpose of this Promissory Note, by holding the entire Promissory Note unenforceable.


7. Amendement

This Promissory Note may only be amended in writing signed by both Parties.


8. Assignment


This Promissory Note, or the rights granted hereunder, may be assigned, sold, leased or otherwise transferred in whole or part by the Lender.


9. Binding

This Promissory Note will inure to the benefit of and be binding upon the respective successors, assigns, heirs, executors and/or administrators of the Borrower.



BORROWER

Name: ________

Signature: _________________________

Date: _____________________________

See your document in progress

PROMISSORY NOTE
(Alberta)

Amount: $________

Date: ________

FOR VALUE RECEIVED, the undersigned borrower,________, having a primary address at the following:

________

(hereinafter the "Borrower")


hereby promises to pay the lender, ________, having a primary address at the following:

________

(hereinafter the "Lender")

the sum of $________ (________) ("Principal Amount") with interest at the rate of ________% per annum ("Interest") on the unpaid principal in accordance with the terms and conditions set forth below.


1. Terms of Repayment

General Repayment: The Principal Sum plus all accrued interests will be paid back in full on ________ ("Due Date"). The Borrower shall ensure that the entirety of the Principal Sum and all interests will be returned by the Due Date.

The Borrower shall pay back the Lender by cheque sent to the address of the Lender specified above.

Past Due Interest: If the Due Date passes and the entirety of the Principal Sum with accrued interest has not been paid back, a higher interest rate of ________% per annum on the unpaid amount will be charged until all the funds owing are recouped in full.


2. Default

The following events constitute default of this Promissory Note and upon their occurrence, the entirety of any remaining amount due shall become immediately payable:

a) The Borrower's insolvency;

b) The Borrower's death, incompetency; liquidation, or dissolution;

c) The Borrower's making of a general assignment for the benefit of Borrower's creditors;

d) The Borrower's filing of any bankruptcy proceedings; or

e) Any application for the appointment of a receiver for the Borrower.


3. Collections costs

Should the Borrower default on completing any obligation contained within this Promissory Note, including, but not limited to, if any of the circumstances in the Default provision occur, the Lender may declare the entire amount remaining due immediately. Any and all costs or expenses incurred by the Lender in enforcing the obligations of this Promissory Note as a result of the Borrower's default, including any legal fees or costs, will be added to the remaining amount due and must be paid immediately by the Borrower.


4. Security

This Promissory Note is secured by the following collateral ("Collateral"):

________

Until this Promissory Note is paid in full, Borrower grants Lender a security interest in the Collateral. Borrower hereby agrees to list Lender as a lender on the title of the Security, regardless of Lender's choice to perfect the security interest.

If the Borrower defaults on this Promissory Note and does not make payment for seven (7) days after it is demanded by Lender, the Collateral will revert to Lender and all rights in the ownership of such Collateral will belong to Lender.


5. Governing Law

This Promissory Note will be governed exclusively in accordance with the laws of the province of Alberta, and the laws of Canada in effect in the province of Alberta.

6. Baeafcaffffp

Faa Bcfffaa caabcafabda facf fb c bfadbfa aafaaab faa Bcfffaa cffaaa cbf cb fafa Bfcafaacfp Acfa cf faa abaaaaf acffaf cb fafa Bfcafaacfp Acfa, faap acbfb acbf faa acbff fc fbfafdfaf faa Bfcafaacfp Acfa ca bcffcaa:

c) affa faadaaf fc cbp dfcefafcb facf ff acfba bbabbcfaacafa, ap acbfbpfbd facf dfcefafcb fc faa afbfaba aafabf baaaaacfp fc acaa ff abbcfaacafa, cf fb facf acbfbfacffcb fa bcf dafafffab ap fca, ap bfafadcfbfbd facf dfcefafcb;

a) fb cb bbabbcfaacafa dfcefafcb fa acbfbfab cf bfafadcfbab fb caacfbcbaa affa faa dfaaabf aaaffcb, ap acfbfbd facf faa faaf cb faa Bfcafaacfp Acfa afff faacfb fb abbaaf ca affffab;

c) by holding that any unenforceable provision will remain as written in any circumstances other than those in which the provision is held to be unenforceable;

d) if modifying or disregarding the unenforceable provision would result in a failure of an essential purpose of this Promissory Note, by holding the entire Promissory Note unenforceable.


7. Amendement

This Promissory Note may only be amended in writing signed by both Parties.


8. Assignment


This Promissory Note, or the rights granted hereunder, may be assigned, sold, leased or otherwise transferred in whole or part by the Lender.


9. Binding

This Promissory Note will inure to the benefit of and be binding upon the respective successors, assigns, heirs, executors and/or administrators of the Borrower.



BORROWER

Name: ________

Signature: _________________________

Date: _____________________________