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Hawaii Promissory Note Template

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Hawaii promissory note details the conditions of one’s promise to repay a debt owed to a money lender. By signing the note, the borrower agrees to reimburse the lender by a specific due date along with any interest accrued. The promissory note may also stipulate fees to be applied on each installment the borrower fails to pay on time.

This promissory note can be constructed with or without the inclusion of a security provision. With a security provision, the borrower would offer their property as collateral, or “security,” for the loan. Should the borrow violate the contract irremediably, ownership of the security will transfer to the money lender as a contribution to the unpaid balance.

Types

Secured Promissory Note – Under the terms of a secured promissory note, the borrower must pledge an asset as collateral before receiving funds.

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