Free Promissory Note with default in payment Form

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                PROMISSORY NOTE - with default in payment

 

  
        $______________________                   ______________,19__

  

                 FOR VALUE RECEIVED, I, We ________________ (Borrower)

 
        promise to pay to the order of ________________(Lender) the sum

 
        of ($          )Dollars payable at _____________________ with

 
        interest at the rate of_________ (___%) percent per annum.

 
                This note is No. _____ in a certain series of_____ notes.

 
                Should there be a default in the payment of any of the

 
        notes, then, at the option of the holder hereof, the remaining

 
        notes within the series shall immediately become due and payable.

 

                Signed under seal this _____day of _____, 19__.

 

 
        ______________________________      ___________________________

        Witness                             (Borrower)