Free Promissory Note Form - for open account debt

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                                        PROMISSORY NOTE 

 
 

               FOR VALUE RECEIVED, the undersigned promise to pay to the

        order of __________________________ , the sum of_____________

        ($           ) Dollars, together with interest thereon at the

        rate of __ % per annum on the unpaid balance.

 

               Said principal and interest shall be payable as follows:

        (Describe Terms)

 

               The undersigned may prepay this Note in whole or in part

        without penalty.  In the event any payment due hereunder is not

        paid when due, the entire balance shall be immediately due and

        payable upon demand of the holder.  Upon default, the

        undersigned shall pay all reasonable attorney fees and costs

        necessary for the collection of this Note.

 

               This Note is executed to evidence an existing

        indebtedness due the payee from the undersigned on an open

        account balance as of this date, and this Note shall not be

        construed as a separate obligation.

 

               Signed under seal this _____day of _________, 19__.

 

 
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