[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-282715-105":53,"doc-detail-282715-en":127},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":120,"head_meta":122,"extra_data":124,"updated_unix":126},105,"en","owner-finance-addendum-mortgage-note-payment-terms-read-before-signing","Owner-Finance Addendum - Mortgage Note Payment Terms - Read Before Signing","","Owner-finance addendum defines the mortgage note structure and repayment schedule for a purchase under seller financing. It specifies payment options including amortized monthly installments, balloon or term-notes, interest calculation method, and possible escrow funding for taxes and insurance. The addendum also covers late charges, the borrower’s prepayment rights, default remedies including right to cure and acceleration, and due-on-sale provisions. It allocates other loan costs, sets escrow agent details, addresses credit approval conditions, and requires use of standard FNMA/FHLMC instruments.",{"@graph":63,"@context":119},[64,80,102],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/owner-finance-addendum-mortgage-note-payment-terms-read-before-signing/282715/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/owner-finance-addendum-mortgage-note-payment-terms-read-before-signing/282715.png","ImageObject",442,249,{"name":88,"@type":89},"Emma Wilson","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-19","2026-09-16",true,{"@type":98,"interactionType":99,"userInteractionCount":101},"InteractionCounter",{"@type":100},"ViewAction",8,{"@type":103,"mainEntity":104},"FAQPage",[105,111,115],{"name":106,"@type":107,"acceptedAnswer":108},"What payment structures are allowed for the mortgage note?","Question",{"text":109,"@type":110},"The addendum supports amortized equal monthly installments, balloon payment, or a term note structure with principal plus accrued interest due on a specified date.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"How are late payments handled and what is the late charge?",{"text":114,"@type":110},"If a monthly installment is not received by the note holder within ten calendar days after its due date, the buyer must pay a late charge equal to 5% of the monthly installment for each late payment.",{"name":116,"@type":107,"acceptedAnswer":117},"What happens if the buyer defaults and does the buyer have a right to cure?",{"text":118,"@type":110},"If an installment remains unpaid for a specified number of calendar days after notice, the unpaid principal and accrued interest become due at the note holder’s option. The note holder’s acceleration is limited by statutory rights to cure under Kansas and/or Missouri laws applicable at the note’s execution date.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},282715,1790060668,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":73,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":140,"read_time":9},3848291630094,"https://eur-avatar.wpscdn.com/davatar_085a072bc5b1113ac321206ff7593b45","1 SELLER:    \n2 BUYER:    \n3 PROPERTY:    \n4 1. MORTGAGE NOTE.   DOLLARS ($  ) of the  \n5 Purchase Price shall be in the form of a NOTE from BUYER payable to SELLER and secured by a purchase  \n6 money mortgage/deed of trust on the Property, executed by BUYER and spouse, if any. Said mortgage/deed of  \n7 trust shall be inferior to any existing or new mortgage/deed of trust which BUYER is obtaining or assuming by the  \n8 terms of this Contract.  \n9  \n10 2. PAYMENT TERMS. The above described Note shall be payable as follows:  \n11 (Check and complete applicable paragraphs.)  \n12  a. AMORTIZED over a period of   years and payable in equal monthly installments of $  , including  \n13 interest at the rate of   percent (  %) per annum, beginning on  \n14   and continuing on the   day of each succeeding month  \n15 thereafter until the entire principal sum and any accrued interest is paid in full. Each installment shall first be  \n16 applied toward interest accrued on the unpaid balance and the remainder toward reduction of principal.  \n17 Interest calculations will be based on 365 calendar days. Interest will start accumulating on    \n18    \n19  b. BALLOON PAYMENT. Provided however, the entire unpaid principal balance, and accrued interest, will be  \n20 due and payable in full on    \n21  c. TERM NOTE. Principal plus accrued interest at the rate of   % per annum, shall be due and payable  \n22 on or before the   day of    \n23  d. ESCROW FOR TAXES AND INSURANCE: BUYER will pay the annual real estate taxes by monthly  \n24 payments of $  to Escrow Agent (adjusted as taxes may change) and insurance premiums  \n25 by monthly payments of $   to Escrow Agent (coverage to include SELLER as additional 26 insured) on such property directly to the insurance agent when the same are due. The parties understand  \n27 and agree that it is their responsibility to notify the taxing authority and/or the insurance provider of the  \n28 correct billing information.  \n29  e. OTHER PAYMENT TERMS:    \n30    \n31   32  \n33 3. LATE CHARGE. BUYER shall pay a charge of 5% of the monthly installment for each payment not received by  \n34 NOTE HOLDER within ten (10) calendar days after its due date.  \n35  \n36 4. PREPAYMENT. BUYER shall have the right to prepay the principal or any portion thereof at any interest paying  \n37 date without penalty. However, any such prepayment shall not reduce the amount of the monthly payment stated  \n38 above unless otherwise agreed by BUYER and the NOTE HOLDER in writing.  \n39  \n40 5. DEFAULT/RIGHT TO CURE/ACCELERATION. If any monthly installment under the NOTE is not paid when due  \n41 and remains unpaid for a period of   calendar days (minimum of thirty (30) days on second mortgages) after  \n42 notice to BUYER, the entire principal balance outstanding and accrued interest thereon shall at once become due  \n43 and payable at the option of the NOTE HOLDER. NOTE HOLDER’S option to accelerate hereunder is subject to  \n44 and limited by any statutory rights to cure afforded BUYER under the applicable laws of Kansas and/or Missouri in  \n45 effect on the date of execution of the Note.  \n46  \n47 6. DUE ON SALE CLAUSE. The NOTE and/or mortgage/deed of trust shall contain a term permitting the NOTE  \n48 HOLDER to demand payment of the entire principal balance outstanding on said NOTE in the event of the sale, 49 transfer or other conveyance of the property described herein.  \n50 7. INSURANCE AND TAXES. BUYER shall maintain fire and extended coverage insurance on the Property with  \n51 mortgagee's coverage sufficient to cover the NOTE HOLDER’S interest in the Property and shall provide the NOTE  \n52 HOLDER with proof thereof on an annual basis. BUYER shall provide the NOTE HOLDER with copies of paid  \n53 receipts for real estate taxes on an annual basis.  \n54  \n55 8. OTHER LOAN COSTS. BUYER shall pay for all other costs associated with obtaining and perfecting the  \n56 mortgage/deed of trust including mortgagee's title insurance policy, any documen","cbCaibctw47XIj0y","https://ap.wps.com/l/cbCaibctw47XIj0y","pdf",89707,"English","# Mortgage Note\n## Payment Terms\n## Late Charge and Prepayment\n## Default, Cure, and Acceleration\n## Due on Sale and Insurance/Taxes\n## Escrow Agent and Credit Approval\n## Standard Forms and Additional Terms","[{\"question\":\"What payment structures are allowed for the mortgage note?\",\"answer\":\"The addendum supports amortized equal monthly installments, balloon payment, or a term note structure with principal plus accrued interest due on a specified date.\"},{\"question\":\"How are late payments handled and what is the late charge?\",\"answer\":\"If a monthly installment is not received by the note holder within ten calendar days after its due date, the buyer must pay a late charge equal to 5% of the monthly installment for each late payment.\"},{\"question\":\"What happens if the buyer defaults and does the buyer have a right to cure?\",\"answer\":\"If an installment remains unpaid for a specified number of calendar days after notice, the unpaid principal and accrued interest become due at the note holder’s option. The note holder’s acceleration is limited by statutory rights to cure under Kansas and/or Missouri laws applicable at the note’s execution date.\"}]","Owner-Finance Addendum - Mortgage Note Payment Terms - Read Before Signing | PDF",1789580734]