PROMISSORY NOTE (BALLOON)
 

*SAMPLE*

$_______________________           ________________
       (Loan Amount)                             (Date)

For value received, I (we) ________________________________________________
                                                               (borrower (s) )
jointly and severally, promise to pay to the order of ________________________
                                                                                       (lender)
the sum of __________________________ dollars ($____________), together with
                   (written amount borrowed)
interest thereon from the above date at the rate of __________ percent (___%) per annum.  Payments of principal and interest will be payable in equal monthly installments of $__________________ beginning on _________________ and continuing on the first day of each month thereafter until ____________ at which time the entire balance shall become due and payable.

This note is not assumable.  This note may be prepaid in whole or in part at the time without penalty.  All prepayments shall be first applied to interest then to principal.  Payments not made within _______days of the due date shall be subject to a late charge of _______% of the payment amount.

In the event of default, the undersigned agrees to pay all costs of collection, which may include reasonable attorney's fees.

Payments shall be made at (or at such other places as the holder may from time to time designate in writing) _______________________________________.
                                         (Address)

_______________________                       _____________         ______________________
         (Borrower)                                             (Date)                              (Witness)

______________________                        ______________
       (Co-borrower)                                           (Date)