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Legal Forms Glossary

Affidavit of Lost Promissory Note and Indemnity Agreement

If you are a lender who loses the paper copy of a promissory note, it's the equivalent of losing cash out of your pocket. Signing an affidavit that you lost the document can limit the harm you or the borrower could experience as a result of the loss. The indemnity agreement that is also included is the lender's promise that if the borrower loses money because of the lost promissory note, the lender will reimburse the borrower for those losses.