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.
This Canada Promissory Note with Collateral Charge on Land
template is available in MS Word format, and is easy to download, fill in with your details, and print.