Balloon Note Clause Samples

Balloon Note. At the Maturity Date (or Extended Maturity Date, if applicable) of this Note the full amount of the principal, interest, fee and other amounts and charges due under this Note shall become due and payable unless Borrower has prepaid such sum in whole or in part. Lender shall have no obligation to extend the Loan Term or refinance the unpaid amount.

Balloon Note. IN THE EVENT THAT THERE IS A PRINCIPAL BALANCE REMAINING DUE AFTER ALL MANDATORY PAYMENTS REQUIRED TO BE MADE UNDER PARAGRAPH 1 ABOVE HAVE BEEN PAID BY BORROWER TO LENDER, THIS NOTE SHALL BE DEEMED TO BE A BALLOON NOTE REQUIRING PAYMENT IN FULL ON THE DATE OF MATURITY AND THE LENDER SHALL BE UNDER NO OBLIGATION TO REFINANCE THE AMOUNT DUE AT THAT TIME.