Texas Secured Promissory Note Template

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The Texas secured promissory note is a signed promise stating that the borrower of a monetary balance will reimburse said balance to the lender in the transaction in a timely and complete fashion. This template includes a section on security, which requires the borrower to set aside an item (such as a home, vehicle, or boat) that will be automatically given to the lender if the borrower enters into default and cannot recover.

How to Write

Before heading to the first section of the template, enter the following information at the top of the document:

  • Current Date
  • Name of Borrower
  • Address of Borrower
  • Name of Lender
  • Address of Lender
  • Balance of Note
  • Note’s Interest Rate

Step 1 – At the first (1) section, select one of the three possible payment methods that the borrower will be required to follow during the course of the agreement. Two of the options utilize installments, which require the borrower to make weekly or monthly payments towards the balance until it is paid for in full.

Step 2 – In the second (2) and third (3) sections, start by entering the date that the entire balance will be due. This includes any late fees that have been issued and accrued interest on the balance. In the third section, enter the interest rate that the borrower will be required to pay if he or she enters into default on the balance or misses a payment by more than fifteen days.

Step 3 – Proceeding to the sixth (6) section, enter the time span required to pass before a late fee can be issued, and then enter the cost of a single late fee.

Step 4 – In the eighth (8) section, enter the number of days required to pass after a default has occurred before the lender can issue acceleration.

Step 5 – Head to the seventeenth (17) section and enter the item that will serve as security for the transaction.

Step 6 – On the last page of the document, enter the current date and have the lender, borrower, and witness print and sign their names into the designated empty boxes. Once all pertinent names have been recorded, the template will go into full legal effect.