PROMISSORY NOTE
$ ____________________ ______________________________
(City) (State)
______________________________
(Date)
FOR VALUE RECEIVED the undersigned jointly and severally
promise(s) to pay to the order of ______________________________
the principal sum of _________________________________ dollars ($
_______ ) together with interest thereon from date at the rate of
__________ ( ____%) percent per annum until maturity, said
principal and interest being payable monthly on the _________ day
of each and every month in lawful money of the United States
beginning on the ________ day of__________________, 19 _____, in
monthly installments of ___________________________ dollars ($
________ ), and continuing thereafter until
, or until said principal and interest have been paid in
full, at ____________________________________, or at such other
place as the holder hereof may designate in writing from time to
time.
Each installment payment shall be credited first to the
interest then due, and the remainder to the principal.
Each maker and endorser severally waives demand, protest and
notice of maturity, non-payment or protest and all requirements
necessary to hold each of them liable as makers and endorsers and,
should litigation be necessary to enforce this note, each maker
and endorser waives trial by jury and consents to the personal
jurisdiction and venue of a court of subject matter jurisdiction
located in the State of __________________ and County of
_______________.
Each maker and endorser further agrees, jointly and
severally, to pay all costs of collection, including a reasonable
attorney's fee in case the principal of this note or any payment
on the principal or any interest thereon is not paid at the
respective maturity thereof, or in case it becomes necessary to
protect the security hereof, whether suit be brought or not.
This note is to be construed and enforced according to the
[2001]
laws of the State of __________; upon default in the payment of
principal and/or interest when due, the whole sum of principal and
interest remaining unpaid shall, at the option of the holder,
become immediately due and payable and it shall accrue interest at
the highest rate allowable by law, or, if no highest
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2
rate is otherwise indicated, at eighteen (18%) percent, from the
date of default.
Default shall include, but not be limited to non-payment of
any respective installment within ten (10) days from the due date
set out herein, or nonpayment on three different occasions of any
installments within five (5) days subsequent to the due date
therefor set out herein.
Unless specifically disallowed by law, should litigation
arise hereunder, service of process therefor may be obtained
through certified mail, return receipt requested; the parties
hereto waiving any and all rights they may have to object to the
method by which service was perfected.
______________________________ ______________________________
Witness
______________________________
Witness
______________________________
Corporation (If Applicable)
______________________________ By: __________________________
Witness Its President
______________________________ Attest: ______________________
Witness Its Secretary
(Corporate Seal)
[2001]
