Subsequent cause, breach or default of the Borrower's obligations herein.Ĩ. Payee's forbearance in enforcing a right or remedy as setįorth herein shall not be deemed a waiver of said right or remedy for a Payee hereof to declare the entire principal and accrued interest immediatelyĭue and payable. The 15 th day following the date that such payment is due entitles the Failure by Borrower to remit any payment by Interest permitted by the Laws of the State of Tennessee until Incurred charges shall bear interest after maturity at the maximum amount of INTEREST ON PAST DUE INSTALLMENTS AND CHARGES.Īll past due installments of principal and/or interest and/or all other past-due Protests, and notices of protest, to the extent permitted by law.ħ. Intentions to accelerate maturity, notices of acceleration of maturity, Guarantor waive all demands for payment, presentation for payment, notices of The time within which it must be cured, as may be required by law or writtenĪgreement, then Payee may declare the unpaid principal balance and earned If Borrowerĭefaults in the payment of this Note or in the performance of any obligation,Īnd the default continues after Payee gives Borrower notice of the default and Shall be due by the final scheduled payment date.Ħ. The principal amount plus interest at the rates stated above. Order of Payee at the place for payment and according to the terms for payment Right to prepay this Note in whole or in part, prior to maturity, withoutĥ. If each payment is not paid on time, the remainingīalance will be subject to the maximum amount of interest permitted by the LawsĤ. Principal of $ _ principal is paid in full. Payable on the same day of each succeeding month thereafter until the total The first such payment due and payable on the 1 stĭay of _, 20 _, and a like installment shall be due and This Note is due and payable asįollows, to-wit: _ ( _) Įqual monthly payments of $ _ principal [insert monthly _ percent, or no interest shall accrue on matured, unpaid amounts.ģ. Or _ annual interest rate on matured unpaid amounts shall be set at Unpaid amounts shall be the maximum amount permitted by the Laws of the State of Tennessee, INTEREST RATE: _ Annual interest rate on matured, (NOTE: IF THE SECOND OPTION IS SELECTED, THEN THE BUYER MUST SEPARATELY SIGN THE "SECURITY AGREEMENT" FORM BELOW.)Ģ. Obligations under this Note have been satisfied in full. Listed as a secured lender on the title to the Boat until all debts and Seller shall retain a security interest in the Boat, and the Seller shall be Transfers title to the Boat to the Buyer upon execution of this Note, but the Obligations under this Note have been satisfied in full, or _ The Seller _ The Seller shall retain title to the Boat until all debts and Payment of the purchase price of the following boat ("Boat"):ġ. This PROMISSORY INSTALLMENT NOTE ("Note") is given to secure the Promissory Installment Note on a new page (or set of pages), if they wish toįormalize the payment terms and conditions, associated with this bill of sale. SWORN TO AND SUBSCRIBED BEFORE ME, this the _ day of _,Ībout this Form: The Seller and the Buyer may separately complete the following The Seller and Buyer agree to theįollowing additional terms in conjunction with this bill of sale: THE BUYER HAS PERSONALLY INSPECTED THEīOAT, ENGINE(S), AND EQUIPMENT AND ACCEPTS THEM "AS-IS".ĪDDITIONAL TERMS OF SALE. OTHER THAN THE SELLER'S WARRANTY OF OWNERSHIP STATED ABOVE, THE BUYER TAKES THEīOAT, ENGINE(S), AND EQUIPMENT "AS-IS" WITHOUT ANY WARRANTIES, EXPRESS OR IMPLIED, AS TO THEIR CONDITION. Further, the Seller warrants that the Seller will defend the BuyerĪgainst any and all lawful claims and demands whatsoever in relation to thisĭISCLAIMER OF ALL OTHER WARRANTIES. The Boat is free of any and all legal claims, encumbrances, and offsets by Warrants that the Seller is the true and lawful owner of the Boat, and that Model, year, type, hours, and serial numbers.]ĭESCRIPTION OF EQUIPMENT. [In the lines above, include a description of the Boat's engine(s), such as the make, To have and to hold the same unto Buyer and Buyer's executors,ĭESCRIPTION OF ENGINE. His/her successors and assigns, the following boat ("Boat"), which is ($ _), receipt of payment acknowledged, do hereby sell and , County of _, Tennessee, inĬonsideration of a Promissory Installment Note for $ (Sold "As-Is" without Warranty) Tennessee Bill of Sale of Boat / Vessel Ownership in the boat, which is often needed when trying to obtain insurance or Such a bill of sale is needed to confirm a party's This form below is designed for use on upon the sale of a boat or vessel. Party assigns or transfers its rights or interest in property to another party. About this Form: A bill of sale is a written agreement by which one
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