PROMMISSORY NOTE
I, [ENTER NAME] (hereinafter “Promisor”), promise to pay the sum of $_________ (hereinafter
“the amount”) to [ENTER COMPANY] (hereinafter “Promisee”) of address [ENTER ADDRESS].
This promise amounts to a deed to account for the absence of consideration for the lease agreement
between the Promisor and the Promisee. The Promisor will pay the deposit to the Promisee when
the previous tenant demands a return of their existing rent deposit. The Promisor further states as
follows:
1. Payments. The amount is due and payable in full upon demand by the Promisee.
2. Security. The Note is unsecure. Accordingly, there shall be NO SECURITY provided in this
Note.
3. Attorneys’ Fees and Costs. If Promisor or Promisee sues to enforce this Note or obtain a
declaration of its rights herein, each party shall be entitled to recover its reasonable attorneys’
fees and costs incurred in the proceeding.
4. Non-Waiver. No failure or delay by the Promisee in exercising Promisee’s rights under this
Note shall be considered a waiver of such rights.
5. Severability. In the event that any provision herein is determined to be void or unenforceable
for any reason, such determination shall not affect the validity or enforceability of any other
provision, all of which shall remain in full force and effect.
6. Integration. There are no verbal or other agreements which modify or affect the terms of this
Note. This Note may not be modified or amended except by written agreement signed by the
Promisor and Promisee.
7. Notice. Any notices required or permitted to be given hereunder shall be given in writing and
shall be delivered (a) in person, (b) by certified mail, postage prepaid, return receipt requested,
(c) by facsimile, or (d) by a commercial overnight courier that guarantees next day delivery
and provides a receipt, and such notices shall be made to the parties at the addresses below:
For Promisor: [ENTER ADDRESS/CONTACT]
For Promisee: [ENTER ADDRESS/CONTACT]
8. Execution: The Promisor executes this Note as a principal and not as a surety.
9. Governing Law. This note shall be governed under the laws in the State of [ENTER STATE].
2
Promisor’s Signature Date
Print Name
Promisee’s Signature Date
Print Name
Witness Signature
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