Nebraska Unsecured Promissory Note Template

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The Nebraska unsecured promissory note binds a borrower and a lender into a legal promise that states one party will reimburse the other a loaned amount of money plus accumulated interest. If the borrower follows the payment structure outlined in the template and follows all requirements of the note, both parties will benefit from the transaction without issues. However, if the borrower cannot make payments and defaults on the balance, the lender will have no way of getting the loaned amount of money back as this version does not include a section on security.

How to Write

Step 1 – At the top of the first page, enter all required information into the empty text boxes. Once this has been completed, head to Step 2 below.

Step 2 – In the first (1) section, select how the borrower will repay the loaned balance. The options consist of the following:

  • No Installments – Borrower makes a single lump sum payment including the full balance and interest.
  • Installments – Borrower makes weekly or monthly payments on the balance.
  • Interest Only Payments – Borrower makes weekly or monthly payments that consist of only interest until the full balance is paid.

If an installment-using option was selected, select either weekly or monthly payments and enter the date the first payment will be due.

Step 3 – For the second (2) and third (3) sections, begin by entering the due date (day, month, year) that the entire balance plus accumulated interest and any possible late fees will be due. Next, enter the interest rate that will be used if the borrower enters into default on the balance.

Step 4 – Head to the sixth (6) section and enter the time span required for late fee issuance as well as the cost of a late fee.

Step 5 – For the seventh (7) section, enter how many days need to pass after the borrower has entered into default before acceleration can go into effect. Acceleration requires all outstanding debt to be due immediately.

Step 6 – To complete the note and put it into effect, head to the last page of the template and enter the current date and the printed and signed names of the borrower, lender, and witness.