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Promissory Note For Property
"I need a Promissory Note For Property to secure a loan of SGD 1.5 million for a commercial property purchase in Singapore's Central Business District, with monthly repayments over 15 years starting from March 2025, including an early repayment option."
1. Promise to Pay: Explicit promise to pay a specific amount, including the principal sum and payment terms
2. Property Details: Clear identification and description of the property serving as security for the note
3. Payment Terms: Detailed terms including amount, interest rate, payment schedule, and maturity date
4. Maker Details: Full legal name, address, and other relevant details of the person making the promise
5. Payee Details: Full legal name, address, and other relevant details of the person receiving the payment
1. Acceleration Clause: Terms and conditions under which the full payment becomes immediately due and payable
2. Prepayment Terms: Conditions and provisions for early payment or prepayment of the note
3. Security Details: Additional security arrangements beyond the property, if any additional collateral is provided
4. Default Provisions: Specific terms defining what constitutes default and consequences thereof
1. Property Description Schedule: Detailed legal description of the property including lot number, boundaries, and other relevant details
2. Payment Schedule: Detailed breakdown of payment dates, amounts, and allocation between principal and interest
3. Property Valuation Report: Professional valuation report of the property if required as part of the agreement
4. Title Documents: Copies of relevant property title documents and certificates
Authors
Amount
Business Day
Completion Date
Default
Default Interest Rate
Due Date
Encumbrance
Event of Default
Interest Rate
Maker
Maturity Date
Outstanding Amount
Payee
Payment Date
Payment Schedule
Principal Sum
Property
Property Description
Repayment Terms
Security
Security Interest
Singapore Dollars
Stamp Duty
Title Documents
Transfer
Valuation
Working Day
Payment Terms
Interest Provisions
Security
Property Description
Default
Acceleration
Prepayment
Transfer and Assignment
Representations and Warranties
Notice Requirements
Enforcement
Governing Law
Jurisdiction
Amendment
Severability
Stamp Duty
Registration
Waiver
Costs and Expenses
Force Majeure
Execution
Guarantees
Remedies
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