_________________________________ (city, state, date)

For value received, we the undersigned, jointly and severally, promise to pay to the order of ________________________________ (name of lender), ___________________________ (city, state), and the sum of _____________________ (amount) 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 ___________________ 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 attorneys’ 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 hypothetical 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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