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Promissory Note Rental Payment
"I need a Promissory Note Rental Payment for my commercial property in Singapore, where my tenant will pay SGD 15,000 monthly starting March 2025, with a 5% late payment interest rate and an acceleration clause in case of default."
1. Promise to Pay: Unconditional promise to pay a specified sum, including date of execution and clear statement of the principal amount in numbers and words
2. Parties: Full names and addresses of the maker (promisor) and payee (promisee)
3. Payment Terms: Specific payment schedule, method of payment, and due dates for rental payments
4. Property Reference: Description of the rental property and reference to the underlying lease agreement
5. Execution Block: Signature blocks for maker and witness, including date of execution
1. Interest Clause: Terms regarding interest charges on late payments, including rate and calculation method
2. Security Provisions: Details of any collateral or security provided to secure the promise to pay
3. Acceleration Clause: Conditions under which the entire amount becomes immediately due and payable
4. Default Provisions: Consequences of default and remedies available to the payee
1. Payment Schedule: Detailed breakdown of payment dates and amounts throughout the rental period
2. Property Details: Comprehensive description of the rental property including address and any identifying features
3. Related Documents: List of associated agreements and documents, including the primary lease agreement
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