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New York Promissory Note Templates

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The New York promissory note templates are documents designed to assist the lender in being reimbursed a loaned amount of money in addition to interest from a borrower. The documents include many sections to ensure the parties are clear on the terms and conditions, as well sections that clarify the fallout to the borrower if payments are not paid in full or are paid late.


Secured Promissory Note – Includes a section on security. Security is an item set aside at the start of the agreement and is used if the borrower enters into default and cannot make the remaining payments. The item in security (previously owned by the borrower) is then given to the lender to help cover the outstanding balance.

Unsecured Promissory Note – Does not include security. This version is typically used between family and friends as there is a considerable amount of added risk for the lender. This is because the lender has no immediate solution for being reimbursed the loaned amount if the borrower cannot/does not repay the balance.

Usury Rate

The maximum rate of interest chargeable, with some exceptions, in New York is 16% per year. McKinney’s Banking Law § 14-a

How to Write

Step 1 – Prepare by downloading a New Mexico note document –

  • Enter the start date of the document – mm/dd/yyyy format
  • Borrower’s name
  • Mailing address
  • AND
  • The Lender’s name
  • Mailing address
  • AND
  • Provide the note’s principal amount
  • Submit the portion of the annual percentage rate remaining

Step 2 – Payments – Provide the following:

  • Submit the total amount of the note payable on the stated due date
  • Also include accrued interest and any late fees

Installments – Submit the preferred payment method by checking appropriate the box

  • Enter the total amount of the note
  • Submit the principal amount of the note
  • Select payment frequency from one of the three (3) boxes
  • Provide the amount that is required for late payments

Step 3 – Security-

  • Check the applicable box indicating the type of selected note
  • If the note will be“secured,” submit a description of property

Step 4 – Titled Sections and Subsections –

  • Interest due in the Event of Default
  • Allocation of Payments
  • Prepayment
  • Acceleration (and 6A.- Security)
  • Attorney’s Fees and Costs
  • Waiver of Presentments
  • Non-Waiver
  • Severability
  • Integration
  • Conflicting Terms
  • Notice
  • Co-Signer – Co-signer’s name
  • Execution
  • Governing Law – (Under New York State Law)

Step 5 – Signatures –

  • Lender’s signature
  • Signature dated – mm/dd/yyyy format
  • Printed name
  • AND
  • Borrower’s signature
  • Signature dated in mm/dd/yyyy format
  • Print name
  • AND
  • Signature of the Co-signer(s)
  • Signature dated in mm/dd/yyyy format
  • Print name
  • AND
  • Signature of Witness (after witnessing signatures ) in mm/dd/yyyy format
  • Print name
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