This contract (this "Contract") is made and entered into on (the "Effective Date"), by and between Eufaula Lake Private Estates, LLC located at 3140 Legacy Dr Ste 300, Frisco, Texas 75034 (the "Seller"), and located at (the "Buyer"). Buyer and Seller may be referred to individually as the "Party", or collectively, the "Parties". The Parties agree that as to all aspects of this transaction involving documents an electronic signature shall have the same force and effect as an original signature pursuant to the provisions of the Uniform Electronic Transactions Act, 12A, Oklahoma Statutes, Section 15-101 et seq. All prior verbal or written negotiations, representations and agreements are superseded by the Contract, which may only be modified or assigned by a further written agreement of Buyer and Seller.
IN CONSIDERATION OF the covenants and agreements contained herein and other good and valuable consideration, the receipt of which is hereby acknowledged, the Parties to this Agreement agree as follows:
For the value received, , Buyer, located at , promises to pay Eufaula Lake Private Estates, LLC, Seller/Mortgagee, located at 3140 Legacy Dr Ste 300, Frisco, Texas 75034, the principal amount of with interest at the annual interest rate of %. Payments are to be made payable to the Seller/Mortgagee, at the aforementioned address, in 240 consecutive installments of , including interest, on the agreed upon date of each month, and continuing until this Promissory Note has been paid in full. If not paid off sooner, this note is due and payable in full on Final Payment Date .
This note is secured by the attached Agreement, which has also been signed by the Buyer. This note may be accelerated and demand for immediate full payment made by the Seller upon breach of any conditions of the contract for deed. This note may be prepaid in whole or in part at any time without penalty. If the Buyer is in default more than 14 days without payment, this note may become payable upon demand by Seller/Mortgagee. This note is not assumable without the written consent of the Seller. The Buyer waives demand, presentment for payment, protest, and notice. In the event of any default, the Buyer shall be responsible for any cost of collection, including, but not limited to filing fees and attorney's fees.
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Document Name: Oklahoma Contract For Deed & Promissory Note
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