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DOWNLOAD this New Mexico Promissory Note Form which can represent a promise made by a borrower to pay back funds lent by a lender over an agreed upon period of time.  The parties may decide what interest rate will be payable with the loan based on New Mexico law.  The parties may also decide that the loan will be secured with personal property or some other form of collateral.  With this form, there is no penalty for the early payment on the note.

USURY

In New Mexico the legal rate of interest absent a written contract is 15%. NM ST § 56-8-3

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