Common use of Installments Clause in Contracts

Installments. Borrower shall pay principal and interest installment amounts equal to $ with the first (1st) payment due on , 20 and the remaining payments to be paid: (check one) ☐ - Weekly with any remaining balance payable on , 20 (“Due Date”). ☐ - Monthly with any remaining balance payable on , 20 (“Due Date”). ☐ - Quarterly with any remaining balance payable on , 20 (“Due Date”). Hereinafter known as the “Repayment Period.”