This promissory note is used with a Deed of Trust to document a loan that is secured by real estate. It sets out the financial terms of the agreement (e.g., how much is loaned, interest rate, term, etc.). This particular form is drafted to be in compliance with the Uniform Consumer Credit Code (UCCC), which provides for a grace period prior to acceleration (meaning that the entire unpaid principal and accrued interest due under the promissory note is due and owing IMMEDIATELY, as contrasted with the due date stated in the promissory note), and does not contemplate a default interest rate. This form is approved by the Colorado Real Estate Commission.