Promissory Note
(Loan repayable in installments with interest)

Name of borrower 1: ________________________________

Name of borrower 2: ________________________________

Name of lender: ________________________________

1. For value received, Borrower promises to pay to Lender the amount of $ ___________ at ________________________________ [address where payments are to be sent] at the rate of __________ % per year from the date this note was signed until the date it is [choose one]:

[ ] paid in full [Borrower will receive credits for prepayments, reducing the total amount of interest to be repaid].

[ ] due or is paid in full, whichever date occurs last [Borrower will not receive credits for prepayments].

2. Borrower agrees that this note shall be paid in installments, which include principal and interest, of not less than $ ___________ per month, due on the first day of each month, until such time as the principal and interest are paid in full.

3. If any installment payment due under this note is not received by Lender within __days of its due date, the entire amount of unpaid principal shall become immediately due and payable at the option of Lender without prior notice to Borrower.

4. In the event Lender prevails in a lawsuit to collect on it, Borrower agrees to pay Lender's attorney fees in an amount the court finds to be just and reasonable.

The term Borrower refers to one or more borrowers. If there is more than one borrower, they agree to be jointly and severally liable. The term Lender refers to any person who legally holds this note, including a buyer in due course.

Borrower 1's signature: ________________________________

Date: ________________________________

Print name: ________________________________

Location: ________________________________ [city or county where signed]

Address: ________________________________

Borrower 2's signature: ________________________________

Date: ________________________________

Print name: ________________________________

Location: ________________________________ [city or county where signed]

Address: ________________________________