Sul Ross State University
Financial Assistance
Alpine, Texas 79832
PROMISSORY NOTE - EX-STUDENT/HOGG MEMORIAL LOAN
I, {name} hereinafter called the Maker, promise to pay to Sul Ross State University, hereinafter called the Lender, located at Alpine, Texas, the sum of ${hoggTotal} plus interest at five percent (5%) per annum on the unpaid balance.
I. The Maker further understands and agrees, and It is understood between the parties that:
a) The Lender is authorized to apply, against this note (principal, interest, related fees and collection costs), any financial aid received on behalf of the Maker, including grants, loans, and scholarships.
b) Payments due pursuant to this note must be received by the Lender prior to 4:00 p.m. on the due dates(s) stated in this note.
c) In the event of the failure of the Maker to meet a scheduled repayment of any of the installments due pursuant to this note or if the approved source(s) of repayment cease(s) to exist, the entire unpaid indebtedness including interest due shall, at the option of the Lender, become immediately due and payable.
d) In the event of the failure of the Maker to complete any academic term for which sums pursuant to this note are advanced, the entire unpaid indebtedness including interest due shall, at the option of the Lender, become immediately due and payable.
e) In the event this note is placed in the hands of an attorney or agency for collection, or suit is brought on the Maker, or if collected through the Probate or Bankruptcy Court, all costs of such action shall be added to the note as collection costs.
f) The Maker waives demand of payment, protest, and notice of non-payment, and agrees that the dates of repayment may, at the option of the Lender, be extended and such action shall be as binding upon the Maker as if said extension had been made at the Maker's own request.
g) The Maker may, at his/her option, and without penalty, prepay all or any part of the principal plus interest due on this note.
h) The Maker shall be responsible for immediately informing the Lender of any change in the Maker's ·name, address, or phone number.
i) A fifteen dollar ($15.00) late fee will be charged if the loan is not paid by the end of the current academic term.
II. The Maker further understands and agrees, and It ls understood between the parties, that repayment of the note shall be in accordance with the following repayment schedule:
Payment Date: {duedate} Payment Amount: ${hoggTotal} plus interest
III. The Maker acknowledges receipt of an exact copy of this statement.