Secured Promissory Note Template

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The Indiana secured promissory note adds structure and cohesiveness to deal involving money loaned between two parties. Save, sign, print, and download your document when you are done. Secured means that the loan is guaranteed by security or collateral. "Amortized payments" means the borrower will pay down the interest and principal of the loan in equal installment payments, but different proportions, until the total amount is paid.

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A secured promissory note carries a lesser risk to the lender.

The Promissory Note is the instrument that lays out the exact terms of a loan including security, repayment, interest rate, and penalties.

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This is a type of promissory note that is backed by a valuable property or a security such as a house, car etc. for the loan amount. If an Event of Default (defined below) occurs, the Holder will have the rights set forth below and in the Security Agreement. It is similar to a secured promissory note, however it is a note secured through something of value.