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	Virginia Promissory Note with Repayment Options - Secured Forms

When a person or entity ("Lender") loans money to another person or entity ("Borrower"), the loan is typically formalized with a written promissory note. A promissory note will include, among other things, a repayment schedule, the interest rate, and defaults. The promissory note included in this Virginia Promissory Note with Repayment Options - Secured packet gives the user a choice between three repayment options: on-demand, monthly installment and scheduled installment. You choose the option that is best for your situation.

In addition this Virginia Promissory Note with Repayment Options - Secured packet includes a security agreement. Often, the Lender may want additional assurance that the Borrower will repay the loan. This assurance usually takes the form of collateral, property pledged as security for a debt. To ensure that that collateral is collectible in the case of a default, the parties will enter into a security agreement, an agreement that sets out the rights of the Lender with regard to the collateral. The security agreement included in this Virginia Promissory Note with Repayment Options - Secured packet is designed to work together with the above promissory note.

This Promissory Note with Repayment Options - Secured form can be used in Virginia VA.

This Virginia Promissory Note with Repayment Options - Secured packet contains:

1. Instructions and Checklist for the Secured Promissory Note (the "Note") and the Security Agreement (the "Agreement");
2. Information about the Note and Agreement;
3. the Note;
4. the Agreement.