Date: _____________________

$ ____________________ (Dollars)

__________________ (obligor), for value received, promises to pay to ___________

(obligee) the principal sum of $__________ (dollars), with the principal sum payable in one lump sum due on ____________ (date) and with accrued interest on the unpaid balance at the rate of ___________ percent (_____%) per annum.

1. Any amount paid under this note shall first be applied to the accrued interest. The balance shall be applied to the principal.

2. On default for __________ calendar days, obligee shall send written notice of the default to obligor by certified mail. If the default has not been cured within ______

days after the mailing of the notice, then the entire unpaid balance of this note shall, at the option of obligee become immediately due and payable.

3. The obligor may prepay any part or all of the debt at any time, without penalty. Any and all prepayments shall be applied first to accrued and unpaid interest and then to principal.

4. This note is nonnegotiable, except under the following conditions: ______________ (set forth conditions that make note negotiable). Unless these conditions are met, the terms, conditions, and obligations of this note run only to obligor, __________ (his or her) heirs, administrators, and executors.

5. Any notice to a party shall be deemed served if personally delivered or mailed by certified mail, return receipt requested to __________ (his or her) last known address.

6. The laws of the State of _________________ shall govern and control all questions with respect to this note and the interpretation and validity of its provisions.

This agreement is executed on ____________ (date), at ______________________ (place of execution).

_______________________________, Obligor

(Signature)