Promissory Note - Installment

PROMISSORY NOTE - INSTALLMENT
_________________________________(city,state,date)

FOR VALUE RECEIVED, we the undersigned, jointly and

severally, promise to pay to the order of (name of lender),

(city, state) , the sum of _____________________

($ ) Dollars with interest on any unpaid balance from

(date) at the rate of percent per annum, and

payable in equal successive monthly installments of

Dollars in lawful money of the United States

of America, commencing on the day of each and every

month thereafter until paid except the final installment

which shall be the balance due on this note. If any

installment be not paid when due, the undersigned promise

to pay collection charges of per dollar of each overdue

installment, or the actual cost of collection, whichever

is greater and the entire amount owing and unpaid hereunder

shall at the election of the holder hereof forthwith become

due and payable, and notice of such election is hereby

waived. The undersigned promises to pay all reasonable

attorney's fees incurred by the holder hereof in enforcing

any right or remedy hereunder. All sums remaining unpaid

on the agreed or accelerated date of the maturity of the

last installment shall thereafter bear interest at the rate

of percent per month. The undersigned authorizes the

holder to date and complete this note in accordance with the

terms of the loan evidenced hereby, to accept additional

co-makers, to release co-makers, to change or extend dates

of payment and to grant indulgences all without notice or

affecting the obligations of the undersigned, and hereby

waives;

a. Presentment, demand, protest, notice of dishonor

and the notice of nonpayment;

b. The right, if any, to the benefit, or to direct

the application of, any security hypothecated to the holder,

until all indebtedness of the maker to the holder, howsoever

arising shall have been paid;

c. The right to require the holder to proceed against

the maker, or to pursue any other remedy in the holder's

power;
And agrees that the holder may proceed against any of the

undersigned, directly and independently of the maker and

that the cessation of the liability of the maker for any

reason other than full payment, or any extension,

forbearance, change of rate of interest, acceptance,

release, substitution of security, or any impairment or

suspension of the holder's remedies or rights against the

maker, shall not in anywise affect the liability of any of

the undersigned hereunder. All obligations of the makers

if more than one, shall be joint and several.

_________________________________________

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