Nevada Unsecured Promissory Note Template

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The Nevada unsecured promissory note outlines the major conditions of the agreement such as payment types, the balance of the note, the note’s interest rate, etc. The template also records information on both parties and records the penalties that result from the borrower not following the terms outlined in the template. This all serves the purpose of helping to ensure the borrower makes timely and full payments to the lender. A major risk to the lender in this note is that there is no security embedded. Because of this, the lender is at risk for losing the loaned balance if the borrower defaults and cannot recover.

How to Write

Step 1 – Enter the following information at the top of the note:

  • Current Date
  • Name and Address of Borrower
  • Name and Address of Lender
  • Full Balance of the Note
  • Interest Rate

Step 2 – In the first (1) section, select the payment type that will be utilized for the duration of the agreement. The options consist of No Installments (borrower makes a single payment of the full balance of the note and interest), Installments (borrower makes weekly or monthly payments), or Interest Only Payments (borrower only makes payments consisting of interest until the balance is paid for).

[If an installment type option was selected, go to the bottom of the first section and select either weekly or monthly payments].

Step 3 – For the second (2) and third (3) sections, enter the final due date and the interest rate used in the case of a default.

Step 4 – In section six (6), enter the time span required to pass before a late fee can be issued and the cost of a late fee.

Step 5 – At the eighth (8) section, enter the amount of days needed to pass after a default before acceleration can occur.

Step 6 – For the note to go into full effect, enter the following information on the last page of the template:

  • Date of Signatures
  • Lender’s Printed and Signed Name
  • Borrower’s Printed and Signed Name
  • Witness’ Printed and Signed Names