PROMISSORY NOTE - BALLOON
FOR VALUE RECEIVED, I, We, the undersigned ____________,
(Borrower) promises to pay to __________________(Lender) the sum
of ________________($ ) together with interest thereon at
the rate of ______ (____%) percent per annum payable as follows:
______months after the date hereof and from month to
month thereafter for ______months until _______, 19__, payments
of interest only shall be due and payable in the amount of
$________ and a final payment in the amount of $_______.
This Note may be prepaid in whole or in part at any time
without premium or penalty. All prepayments shall be applied
first to interest, then to principal payments in the order of
The undersigned agrees to pay all costs and expenses,
including all reasonable attorneys' fees, for the collection of
this Note upon default. All payments shall be made at
_________________________________________, or at such other place
as the holder hereof may from time to time designate in writing.
Each maker, surety, guarantor and endorser of this Note
waives presentment, notice and protest, all surety ship defenses
and agrees to all extensions, renewals, or releases, discharge or
exchange of any other party or collateral without notice.