Prepayment Premium options: The GoDocs system captures a percentage prepayment premium for a certain amount of years separated by hyphens.
As an example, a 3% prepayment premium for two years is shown as 3-3 in the prepayment premium options.
As an example of a 2-1 prepayment premium will be 2% for the first year, 1% for the second year and no prepayment premium for the remainder of the loan.
With an April month of closing, the documents will identify May 1, 2023 as the start of the loan (Inception Date) where the first full month of interest under the loan will first accrue to be payable on the First Payment Date of June 1, 2023. The First Payment Date is the first full month of accrued interest, and scheduled principal, being payable.
As such, the first prepayment premium runs for the first year of the loan (including the period from Disbursement Date to Inception Date) and the second prepayment premium runs starting the second year of the loan. Section J.5 of the Note uses "occurs prior to May 1, 2024" for the period of the first prepayment year, which is run through the entirety of the last day of April 2024. The second prepayment period begins "on or after May 1, 2024" and ends "prior to the Prepayment Premium End Date".
The loan matures May 1, 2053 as there is no more "loan" starting on that date; the loan "ends" the last day of that April 2053. The final monthly payment of April 2053 interest and scheduled principal (plus all remining Indebtedness) is due on the Maturity Date.
The option to include a Prepayment Allowance is customer specific and not available to every customer. Navigate to the "Loan" Tab and Select the appropriate prepayment allowance for the loan in the "Note Type" section. When there is no prepayment allowance, you may select "None". 
This will appear in the Note in Section J.6 (or similar) and read as below:
Prepayment Premium calculations: One can select the prepayment premium to be calculated on the prepayment payment amount (Payment) or the balance of the loan prior to prepayment (Balance).
If you would like the prepayment default changed please let us know. We can allow: Choice with Payment default, Choice with Balance default, Payment only or Balance only. It will affect sections J.4 and J.5 of the promissory note. The difference in output will be in section J.4 and J.5 of the promissory note.
GoDocs also offers a Custom Declining Prepayment Premium data field to add new prepayments. Should you ever need a custom declining prepayment that is not currently in your drop-down options, you may add it using the Custom Declining Prepayment Premium option and enter it as shown below.
Please select "Save Prepayment" to save that option to your drop-down list.