North Dakota Secured Promissory Note Template

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Updated April 11, 2022

A North Dakota secured promissory note requires both the lender and borrower in a money-lending transaction to agree on the terms and conditions of the loan, such as penalties for missing payments, how payments will be made, interest rates, and other important points. In addition, the borrower will need to select an item to be used as security. This item should be of similar value to that of the loaned balance, as it will be given to the lender if the borrower is unable to make the required payments on the balance.