Promissory Note Secured by Deed of Trust

1. For value received,         I individually             We jointly and severally 
promise to pay to the order of _____________________________________________________ (lender) at _____________________________________________________ (lender address) $ _________________ with interest at the rate of ______% per year: [choose one]

from the date this note is signed until the date it is due or is paid in full, whichever date occurs last.
from the date this note is signed until the date it is paid in full.

2. The signer(s) of this note also agree that this note shall be paid in installments, which include principal and interest, of not less than $_________________ per month, due on the first day of each month, until such time as the principal and interest are paid in full.

3. If any installment payment due under this note is not received by the holder within ______ days of its due date, the entire amount of unpaid principal shall become immediately due and payable at the option of the holder without prior notice to the signer(s) of this note.

4. If the holder(s) of this note prevail(s) in a lawsuit to collect on it, the signer(s) agree(s) to pay the holder(s)’ attorney fees in an amount the court finds to be just and reasonable.

5. Signer(s) agree(s) that until such time as the principal and interest owed under this note are paid in full, the note shall be secured by a deed of trust to real property commonly known as _____________________________________________________, owned by ______________________________________________________________________, executed on ___________ (date), at _____________________________________________________ (CIty and County where signed), and recorded on in the records of ______________________ County, California.

___________
Date signed	
_______________________________
Location signed (city and county)
_______________________________	
_______________________________
Borrower’s Address
_________________________________
Signature of Borrower
	___________
Date signed			
_______________________________
Location signed (city and county)
_______________________________
_______________________________
Borrower’s Address
_________________________________
Signature of Borrower