Montana Secured Promissory Note Template

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Updated April 11, 2022

A Montana secured promissory note brings the borrower and the lender of a monetary loan to agree on various aspects of the agreement, such as payment types and interest rates. By ensuring the borrower is clear on the terms and conditions of the agreement, there should be no confusion as to when payments are due, thus increasing the likelihood of the lender receiving timely payments on the balance. If the borrower happens to enter into default on the balance, both parties will have previously agreed on an item or items to be put into security, thus giving the lender financial protection if the balance cannot be reimbursed.