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 require- ments 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 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 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