The Due on a Specific Date Promissory Note is a document that specifies the terms, rights, and obligations that apply to a loan. The party making the loan is the "Lender" and the party borrowing the loan funds is the "Borrower." The Note includes provisions regarding the amount of the loan, the interest rate, the date by which the loan must be repaid, and general provisions for enforcing the repayment of the loan. A loan under a Due on a Specific Date Promissory Note must be repaid by the Borrower to the Lender on a specified due date. |