****************************************

Form: CH14_01
****************************************
AUTHORIZATION OF LOAN AT SPECIFIC TERMS
It was announced that the officers of the corporation have received a loan commitment
from the following bank, trust company, or other financial institution on the following
terms:
Name of Lender: ____[name of bank or other financial institution]____
Loan Amount: $____[principal amount of the loan -- amount you plan to borrow, not
including interest]___
Terms of the Loan:
___[state the terms of the loan, including rate of interest, the full repayment period,
number and amount of installment payments and date, and amount of final payment if
different from other payments]___
It was resolved that the proposed terms of the loan are fair and reasonable to the
corporation and that it would be in the best interests of the corporation to borrow the
funds on the terms stated above.
It was further resolved that the following officers are authorized to execute the notes and
documents on behalf of the corporation necessary to effect the above loan:
Officer Name
____________________
____________________
____________________

Title
____________________
____________________
____________________

****************************************
Form: CH14_02
****************************************
AUTHORIZATION OF MAXIMUM LOAN ON GENERAL TERMS
It was resolved that it was in the best interests of the corporation to borrow up to the
following amount of funds from the following bank, trust company or other financial
institution:
Name of Lender: ____[name of bank]____
Loan Amount: $____[principal amount of the loan not including interest]____
The following officers were authorized to sign the appropriate notes and documents on
behalf of the corporation necessary to borrow an amount that does not exceed the amount
noted above on terms reasonable to the corporation:
Officer Name

Title

____________________
____________________
____________________

____________________
____________________
____________________

****************************************
Form: CH14_03
****************************************
UNLIMITED AUTHORIZATION OF LOANS FOR BUSINESS NEEDS
It was resolved that the following officers of the corporation are authorized to borrow on
behalf of the corporation from one or more banks or other financial institutions such
amounts as they decide are reasonably necessary to meet the needs of the business of the
corporation:
Officer Name
____________________
____________________
____________________

Title
____________________
____________________
____________________

****************************************
Form: CH14_04
****************************************
AUTHORIZATION OF LINE OF CREDIT
It was resolved that it would be in the best interests of the corporation to obtain a line of
credit for borrowing funds from ____[name of bank]____.
The following officers were authorized to complete all necessary forms, documents, and
notes, and to pledge as security corporate assets, necessary to obtain and utilize the line
of credit:
Officer Name
____________________
____________________
____________________

Title
____________________
____________________
____________________

[OPTIONAL: It was further decided that the authority granted by this resolution be
limited and that the officers not be allowed to borrow funds against the line of credit that
exceed __(credit line limit and period)__.]
****************************************
Form: CH14_05
****************************************

AUTHORIZATION OF LINE OF CREDIT WITH CAP ON EACH

TRANSACTION
It was resolved that it would be in the best interests of the corporation to obtain a line of
credit for the borrowing of funds from ____[name of bank]____.
The following officers were authorized to complete all necessary forms, documents, and
notes necessary to obtain and utilize the line of credit to allow borrowing by the
corporation in an aggregate amount that does not exceed $___[credit line limit: specify
total borrowing limit and period if you wish -- for example, "$50,000 per fiscal
year"]___.
Officer Name
____________________
____________________
____________________

Title
____________________
____________________
____________________

It was further resolved that the amount borrowed under the line of credit in one
transaction shall not exceed ___[maximum amount that can be borrowed against the line
of credit in one transaction]___ unless any excess amount is specifically approved by
further resolution of the board of directors.
****************************************
Form: CH14_06
****************************************
AUTHORIZATION OF LOAN TERMS SECURED BY CORPORATE
PROPERTY
It was resolved that the following officers of the corporation are authorized to borrow the
sum of $___[principal amount of loan]___ on behalf of the corporation from
_____[name of bank]_____:
Officer Name
____________________
____________________
____________________

Title
____________________
____________________
____________________

The above officers are authorized to execute a promissory note for the above amount
under the following terms together with a mortgage, deed of trust, or security agreement
and other documents necessary to secure payment of the note with the pledge of the
following property:
Property Used as Security for Note:
___[insert a description of the property]___

Terms of Note:
___[specify loan terms or refer to and attach promissory note]___

****************************************
Form: CH14_07
****************************************
RESOLUTION APPROVING LOAN TO CORPORATION
It was resolved that it is in the best interests of the corporation to borrow the following
amount(s) from the following individuals:
Amount
$________________
$________________

Name of Lender
__________________________
__________________________

The terms of ___["each" or "the"]___ loan were included in a promissory note presented
for approval at the meeting. The board determined that these terms were commercially
reasonable. The board also determined that corporate earnings should be sufficient to pay
back the loan(s) to the lender(s) according to the terms in the note(s) and that such
repayment would not jeopardize the financial status of the corporation.
Therefore, the board approved the terms of ___["each" or "the"]___ note and directed the
treasurer to sign ___["each" or "the"]___ note on behalf of the corporation. The secretary
was directed to attach a copy of ___["each" or "the"]___ note, signed by the treasurer, to
this resolution and to place the resolution and attachment(s) in the corporate records
book.
****************************************
Form: CH14_08
Promissory Note: Installment Payments of Principal and Interest (Amortized Loan)
****************************************
PROMISSORY NOTE
Installment Payments of Principal and Interest (Amortized Loan)
For Value Received, ____[name of corporation]____, the borrower, promises to pay to
the order of ____[name of shareholder or other individual lender]____, the noteholder,
the principal amount of $____[principal amount of loan]____, together with simple
interest on the unpaid principal balance from the date of this note until the date this note
is paid in full, at the annual rate of ____[annual rate of interest]____%. Payments shall
be made at ____[address of lender]____.
Principal and interest shall be paid in equal installments of $____[amount of each
payment]____, beginning on ____[date of first payment]____, 20__, and continuing on

____[day for ongoing payment, for example, "the fifteenth day of each month"]____ until
the principal and interest are paid in full. Each payment on this note shall be applied first
to accrued but unpaid interest and the remainder shall be applied to unpaid principal.
This note may be prepaid by the borrower in whole or in part at any time without penalty.
This note is not assumable without the written consent of the noteholder, which consent
shall not be unreasonably withheld. This note is nontransferable by the noteholder.
If any installment payment due under this note is not received by the noteholder within
__[number of days]__ of its due date, the entire amount of unpaid principal and accrued
but unpaid interest due under this note shall, at the option of the noteholder, become
immediately due and payable without prior notice from the noteholder to the borrower. In
the event of a default, the borrower shall be responsible for the costs of collection,
including, in the event of a lawsuit to collect on this note, the noteholder's reasonable
attorneys' fees as determined by a court hearing the lawsuit.
Date of Signing: _____________________
Name of Borrower: ____[name of corporation]____
Address of Borrower: ____[address of principal office of corporation]____
City or County and State Where Signed: __________
Signature of Borrower: ___[signature of treasurer]___, Treasurer on Behalf of ___[name
of corporation]___
****************************************
Form: CH14_09
Promissory Note: Installment Payments of Principal and Interest (Amortized Loan)
Secured by Corporate Property
****************************************
PROMISSORY NOTE
Installment Payments of Principal and Interest (Amortized Loan) Secured by
Corporate Property
For Value Received, ____[name of corporation]____, the borrower, promises to pay to
the order of ____[name of shareholder or other individual lender]____, the noteholder,
the principal amount of $____[principal amount of loan]____, together with simple
interest on the unpaid principal balance from the date of this note until the date this note
is paid in full, at the annual rate of ____[annual rate of interest]____%. Payments shall
be made at ____[address of lender]____.
Principal and interest shall be paid in equal installments of $____[amount of each
payment]____, beginning on ____[date of first payment]____, 20__, and continuing on
____[day for ongoing payment, for example, "the fifteenth day of each month"]____ until
the principal and interest are paid in full. Each payment on this note shall be applied first
to accrued but unpaid interest and the remainder shall be applied to unpaid principal.
This note may be prepaid by the borrower in whole or in part at any time without penalty.

This note is not assumable without the written consent of the noteholder, which consent
shall not be unreasonably withheld. This note is nontransferable by the noteholder.
If any installment payment due under this note is not received by the noteholder within
__[number of days]__ of its due date, the entire amount of unpaid principal and accrued
but unpaid interest due under this note shall, at the option of the noteholder, become
immediately due and payable without prior notice from the noteholder to the borrower. In
the event of a default, the borrower shall be responsible for the costs of collection,
including, in the event of a lawsuit to collect on this note, the noteholder's reasonable
attorneys' fees as determined by a court hearing the lawsuit.
Borrower agrees that until such time as the principal and interest owed under this note are
paid in full, the note shall be secured by the following described mortgage, deed of trust,
or security agreement:
___[describe security agreement or deed of trust or mortgage used to pledge security of
the property, including a description of the property]___
Date of Signing: _____________________
Name of Borrower: ____[name of corporation]____
Address of Borrower: ____[address of principal office of corporation]____
City or County and State Where Signed: __________
Signature of Borrower: ___[signature of treasurer]___, Treasurer on behalf of
____[name of corporation]____
****************************************
Form: CH14_10
Promissory Note: Installment Payments of Principal and Interest (Amortized Loan) with
Balloon Payment
****************************************
PROMISSORY NOTE
Installment Payments of Principal and Interest (Amortized Loan) with Balloon
Payment
For Value Received, ____[name of corporation]____, the borrower, promises to pay to
the order of ____[name of shareholder or other individual lender]____, the noteholder,
the principal amount of $____[principal amount of loan]____, together with simple
interest on the unpaid principal balance from the date of this note until the date this note
is paid in full, at the annual rate of ____[annual rate of interest]____%. Payments shall
be made at ____[address of lender]____.
Principal and interest shall be paid in equal installments of $____[amount of each
payment]____, beginning ____[date of first payment]____, 20__, and continuing on the
____[day for ongoing payment, for example, "the fifteenth day of each month"]____,
except that a final payment of the remaining unpaid principal amount, together with all
accrued but unpaid interest, shall be paid on ____[date of final (balloon) payment]____.

Each payment on this note shall be applied first to accrued but unpaid interest and the
remainder shall be applied to unpaid principal.
This note may be prepaid by the borrower in whole or in part at any time without penalty.
This note is not assumable without the written consent of the noteholder, which consent
shall not be unreasonably withheld. This note is nontransferable by the noteholder.
If any installment payment due under this note is not received by the noteholder within
___[number of days]___ of its due date, the entire amount of unpaid principal and
accrued but unpaid interest due under this note, shall, at the option of the noteholder,
become immediately due and payable without prior notice from the noteholder to the
borrower. In the event of a default, the borrower shall be responsible for the costs of
collection, including, in the event of a lawsuit to collect on this note, the noteholder's
reasonable attorneys' fees as determined by a court hearing the lawsuit.
Date of Signing: _____________________
Name of Borrower: ____[name of corporation]____
Address of Borrower: ____[address of principal office of corporation]____
City or County and State Where Signed: __________
Signature of Borrower: ___[signature of treasurer]___, Treasurer on Behalf of
____[name of corporation]____
****************************************
Form: CH14_11
Promissory Note: Periodic Payments of Principal and Interest with Lump Sum Principal
Payment
****************************************
PROMISSORY NOTE
Periodic Payments of Interest with Lump Sum Principal Payment
For Value Received, ____[name of corporation]____, the borrower, promises to pay to
the order of ____[name of shareholder or other individual lender]____, the noteholder,
the principal amount of $____[principal amount of loan]____, together with simple
interest on the unpaid principal balance from the date of this note until the date this note
is paid in full, at the annual rate of ____[annual rate of interest]____%. Payments shall
be made at ____[address of lender]____.
Interest shall be paid in equal installments of ___[amount of each interest payment]___,
beginning on ____[date of first payment]____, 20__, and continuing on the ____[day for
ongoing payment, for example, "the fifteenth day of each month"]____ until ____[ending
date of loan period]____, on which date the entire principal amount, together with total
accrued but unpaid interest, shall be paid by the borrower.
This note may be prepaid by the borrower in whole or in part at any time without penalty.
This note is not assumable without the written consent of the noteholder, which consent

shall not be unreasonably withheld. This note is nontransferable by the noteholder.

If any installment payment due under this note is not received by the noteholder within
___[number of days]___ of its due date, the entire amount of unpaid principal and
accrued but unpaid interest due under this note shall, at the option of the noteholder,
become immediately due and payable without prior notice from the noteholder to the
borrower. In the event of a default, the borrower shall be responsible for the costs of
collection, including, in the event of a lawsuit to collect on this note, the noteholder's
reasonable attorneys' fees as determined by a court hearing the lawsuit.
Date of Signing: _____________________
Name of Borrower: ____[name of corporation]____
Address of Borrower: ____[address of principal office of corporation]____
City or County and State Where Signed: __________
Signature of Borrower: ___[signature of treasurer]___, Treasurer on Behalf of
____[name of corporation]____
****************************************
Form: CH14_12
Promissory Note: Lump Sum Payment of Principal and Interest at Specified Date
****************************************
PROMISSORY NOTE
Lump Sum Payment of Principal and Interest at Specified Date
For Value Received, ____[name of corporation]____, the borrower, promises to pay to
the order of ____[name of shareholder or other individual lender]____, the noteholder,
the principal amount of $____[principal amount of loan]____, together with simple
interest on the unpaid principal balance from the date of this note until the date this note
is paid in full, at the annual rate of ____[annual rate of interest]____%. Payments shall
be made at ____[address of lender]____.
The entire principal amount of the loan, together with total accrued but unpaid interest,
shall be paid by the borrower on ____[due date for payment of all principal and
interest]____. Any payment made by the borrower prior to the due date specified above
shall be applied first to accrued but unpaid interest and the remainder shall be applied to
unpaid principal.
This note may be prepaid by the borrower in whole or in part at any time without penalty.
This note is not assumable without the written consent of the noteholder, which consent
shall not be unreasonably withheld. This note is nontransferable by the noteholder.
In the event of a default, the borrower shall be responsible for the costs of collection,
including, in the event of a lawsuit to collect on this note, the noteholder's reasonable
attorneys' fees as determined by a court hearing the lawsuit.

Date of Signing: _____________________

Name of Borrower: ____[name of corporation]____
Address of Borrower: ____[address of principal office of corporation]____
City or County and State Where Signed: __________
Signature of Borrower: ___[signature of treasurer]___, Treasurer on Behalf of
____[name of corporation]____
****************************************
Form: CH14_13
Promissory Note: Lump Sum Payment of Principal and Interest on Demand by
Noteholder
****************************************
PROMISSORY NOTE
Lump Sum Payment of Principal and Interest on Demand by Noteholder
For Value Received, ____[name of corporation]____, the borrower, promises to pay to
the order of ____[name of shareholder or other individual lender]____, the noteholder,
the principal amount of $____[principal amount of loan]____, together with simple
interest on the unpaid principal balance from the date of this note until the date this note
is paid in full, at the annual rate of ____[annual rate of interest]____%. Payments shall
be made at ____[address of lender]____.
The entire principal amount of the loan, together with accrued but unpaid interest, shall
be paid within ___[period, for example "30 days"]___ of receipt by the corporation of a
demand for repayment by the noteholder. A demand for repayment by the noteholder
shall be made in writing and shall be delivered or mailed to the borrower at the following
address: ____[address of principal office of corporation]____. If demand for repayment
is mailed, it shall be considered received by the borrower on the third business day after
the date when it was deposited in the U.S. mail as registered or certified mail.
Any payment made by the borrower prior to the due date specified above shall be applied
first to accrued but unpaid interest and the remainder shall be applied to unpaid principal.
This note may be prepaid by the borrower in whole or in part at any time without penalty.
This note is not assumable without the written consent of the noteholder, which consent
shall not be unreasonably withheld. This note is nontransferable by the noteholder.
In the event of a default, the borrower shall be responsible for the costs of collection,
including, in the event of a lawsuit to collect on this note, the noteholder's reasonable
attorneys' fees as determined by a court hearing the lawsuit.
Date of Signing: _____________________
Name of Borrower: ____[name of corporation]____
Address of Borrower: ____[address of principal office of corporation]____
City or County and State Where Signed: __________

Signature of Borrower: ___[signature of treasurer]___, Treasurer on Behalf of

____[name of corporation]____
****************************************
Form: CH14_14
Promissory Note: Variable Schedule of Payments of Principal and Interest
****************************************
PROMISSORY NOTE
Variable Schedule of Payments of Principal and Interest
For Value Received, ____[name of corporation]____, the borrower, promises to pay to
the order of ____[name of shareholder or other individual lender]____, the noteholder,
the principal amount of $____[principal amount of loan]____, together with simple
interest on the unpaid principal balance from the date of this note until the date this note
is paid in full, at the annual rate of ____[annual rate of interest]____%. Payments shall
be made at ____[address of lender]____.
Principal and interest shall be paid as follows:
[include schedule of payments here. For the last payment, you can insert the following:
The borrower shall make a final payment in the amount of all remaining principal and all
accrued but unpaid interest on ___[date]___.]
This note may be prepaid by the borrower in whole or in part at any time without penalty.
This note is not assumable without the written consent of the noteholder, which consent
shall not be unreasonably withheld. This note is nontransferable by the noteholder.
If any installment payment due under this note is not received by the noteholder within
___[number of days]___ of its due date, the entire amount of unpaid principal and
accrued but unpaid interest of the loan shall, at the option of the noteholder, become
immediately due and payable without prior notice by the noteholder to the borrower. In
the event of a default, the borrower shall be responsible for the costs of collection,
including, in the event of a lawsuit to collect on this note, the noteholder's reasonable
attorneys' fees as determined by a court hearing the lawsuit.
Date of Signing: _____________________
Name of Borrower: ____[name of corporation]____
Address of Borrower: ____[address of principal office of corporation]____
City or County and State Where Signed: __________
Signature of Borrower: ___[signature of treasurer]___, Treasurer on Behalf of
____[name of corporation]____