PROMISSORY INSTALLMENT NOTE
(LONG FORM)
FOR GOOD AND VALUABLE CONSIDERATION RECEIVED, We,
the undersigned ___________________, and _______________________ (hereinafter
"Borrowers") do hereby jointly and severally promise to pay to
______________
__________________ (hereinafter "Lender")
the amount of __________, with interest on such amount accruing at the rate of
________ percent (____%) per _________.
Payment will first be applied to interest, and then to principal,
accordingly.
Payments shall be made in the following fashion:
Payments are due on the ________ of each __________,
to be paid at _____________, in person or by U.S. Mail. Any payment not made within _____________ of
being due shall be considered in default and Lender may, at such time, demand
payment in full of the entire balance due, including interest.
Borrowers reserve the right to pay the entire
balance due on this Note at any time, without penalty charges.
CONFESSION OF JUDGMENT - Borrowers do hereby
irrevocably authorize any attorney of any court of record to appear for Borrowers
at any time to waive the issuance and service of process and to confess
judgment against Borrowers, and in favor of Lender or any subsequent holder
hereof, for such amount as is unpaid with accrued interest, together with costs
and attorney fees. In addition
Borrowers ratify and confirm all that said attorney may do by virtue hereof,
and waive and release all errors that may intervene in such proceedings. Venue shall lie in the following
jurisdiction:
____________________________________________________________________.
COLLATERAL - As collateral security for the payment
of this Note, Borrowers agree to:
______________________________________________________________________
______________________________________________________________________
______________________________ _____________________________
Borrower Date
______________________________ _____________________________
Borrower Date
______________________________ _____________________________
Witness Date
