Massachusetts Secured Promissory Note Template

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Updated April 11, 2022

A Massachusetts secured promissory note binds two parties—a lender and a borrower—in a transaction involving a monetary loan. The template requires the borrower to make either weekly, monthly, or one lump sum payment to the lender consisting of the loaned balance with the addition of interest. If the borrower fails to make timely payments and enters into default, the lender will be granted the item(s) put into security.