Quote from @Jason Taken:
did you actually have a secured lien? you should be calling an attorney if what you've said above is true.
Maybe I don't actually have one. Here's the terms:
FOR VALUE RECEIVED, XXXXX a limited liability
company (hereinafter referred to as "Maker*), hereby promises to pay to MY NAME,
whose address is redacted (hereinafter referred to as
"Holder"), or order, the principal sum of $XXX,000.00 in legal tender of the United States, accruing interest at an annual rate of 18.0%. The principal sum, plus all accrued interest, as defined above, shall be paid to the Holder upon as set forth herein.
Payment & Due Date: The Maker shall not be obligated to make any payments of
principle during the term of this loan until January 4, 2024 ('Due Date"), at which time the entire principal balance, plus all accrued and unpaid interest, and other charges, if any, shall be immediately due and payable in a lump sum balloon payment to Holder.
Collateral: This Promissory Note shall be secured by a mortgage lien against the
following real property: Address listed;
(the "Property"), executed by Maker for the benefit of Holder.
Assignment: This note is NOT assignable by Maker without the written consent
of the Holder, which shall not be unreasonably withheld.
Default: The occurrence of any of the following shall constitute an "Event of
Default':
Failure to make any payment due hereunder;
Nonpayment of principal upon the Due Date;
The breach or failure to perform any of the terms, provisions, conditions,
promises or agreements in the Note, that is not cured within five (5) days of
the date of written notice from Holder;
Any representation or warranty made or deemed made by or on behalf of
Maker to Holder under or in connection with this Note shall be materially
false on the date as of which made;
