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Canada Promissory Note with Collateral Charge on Land
Canadian lenders, secure repayment of a loan with this Promissory Note with a collateral charge against land owned by the borrower.
- The collateral charge on the land is held by the lender as additional security for repayment of the principal amount under the Note.
- Interest on the balance is a floating rate, calculated based on the then-current prime lending rate of the lender's bank.
- The outstanding balance may be prepaid by the borrower without penalty, i.e. no premium or fee will be charged.
Download: Canada Promissory Note with Collateral Charge on Land
Related Forms:
- Canada Balloon Promissory Note with Collateral Provisions
- Canada Secured Installment Note with Fixed Payments & Prepayment Fee
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