For value received, the Borrower _________, of _________, City of _____, State of ___, promises to pay to the Noteholder _________, of ______, City of ________, State of _____, the principal amount of $ ____, with interest at the rate of ____________% on any unpaid balance. Payments are payable to the Noteholder in _______ consecutive installments of $_______, including interest, and continuing on the __________ day of each _______________ until paid in full. If not paid off sooner, this Note is due and payable in full on _____, 20 _.
This Note may be prepaid in whole or in part at any time without penalty. If the Borrower is in default more than ___ days with any payment, this Note is payable upon demand of any Noteholder. This note is not assumable without the written consent of the Noteholder. The Borrower waives demand, presentment for payment, protest, and notice. In the event of such default, Borrower will also be responsible for any costs of collection on this Note, including court costs and attorney fees.
(Signature of Borrower)
(Name of Borrower)