Updated April 11, 2022
A North Carolina secured promissory note brings two parties together in a binding contract to help remove any possible confusion with regard to the terms and conditions of a loan. By ensuring both parties are on the same page, the borrower will be more likely to make complete and timely payments to the lender. Included in this template is a section on security, which helps protect the lender if the borrower enters into default and cannot make the remaining payments.