Common use of Time of Payments Clause in Contracts

Time of Payments. I will pay principal and interest by making a payment every month. This amount is called my “Monthly Payment.” I will make my Monthly Payment on the _______day of each month beginning on _____________, _______. I will make these payments every month until I have paid all of the Principal and interest and any other charges described below that I may owe under this Note. Each Monthly Payment will be applied as of its scheduled due date and will be applied to interest before the Principal. If, on ____________________, ______, I still owe amounts under this Note, I will pay those amounts on that date, which is called the “Maturity Date.”

Time of Payments. I will pay principal and interest by making a payment every month. This amount is called my “Monthly Payment.,” I will make my Monthly Payment on the _______day of each month beginning on _____________, _______. I will make these payments every month until I have paid all of the Principal and interest and any other charges described below that I may owe under this Note. Each Monthly Payment will be applied as of its scheduled due date and will be applied to interest before the Principal. If, on ____________________, ______, I still owe amounts under this Note, I will pay those amounts on that date, which is called the “Maturity Date.”