Then you'll need to briefly describe the terms you are to assume; That promissory note having a balance this date of $_________ and accruing interest at the rate eight and one quarter per cent per annum having a required payment in the amount of $522.69 due and payable on the 5th day of each month, commencing payments to be paid by Buyer on the 5th day of December, 2010, and on like date of each succeeding month thereafter until the 5th day of July, 2014 at which time all remaining amounts then outstanding shall become due and payable in full to the holder thereof and credited for the benefit of Buyer hereunder......With the notary page and signatures required, 5 to 6 pages is more like it, IMO. .

Make the loan have no payments, but payable, with all accrued interest, when they die.

also out of curiosity i poked around online and found kitchencabinetkings.comanyone have any experience with them?

For the last two years we've been profitable but offset it with accrued losses.

Generally speaking, the interest accrues only during the time that you are using the money.

But they give us all these graduate loans at a high interest rate that accrues since disbursement now, scary stuff.

I checked power history afterwards out of personal curiosity, and while it was higher, it wasn't so much that I would have been able to call it out for sure and there were no huge spikes.

Our of curiosity i had goggled on the investor from the back of the book from state and sadly it turns out she had over leveraged her self and the bank foreclosed on close $8Million of her mortgages about 3 years ago.

If this is just a question for curiosity's sake, great.  

I make rent due by the 5th, and late payments accrue on the 6th at the rate of $15 per day.