Monday, April 25, 2005

Promissory Note And Disclosure Statement

[Federal Truth in Lending Act]

Date: ______________

FOR VALUE RECEIVED, the undersigned jointly and severally promise to pay to the order of __________________ , the sum of ________________ [$______] Dollars in [____] consecutive, monthly payments of $_________ each, beginning one month from date hereof and thereafter on the same date of each subsequent month until paid in full. Any unpaid balance may be paid at any time without penalty and any unearned finance charges will be refunded based on the Rule of 78's. In the event the undersigned defaults in any payment beyond ______ days from the due date, the entire balance may be due at the option of the holder.

1. Proceeds $____________

2. Other charges ____________ [itemize] $_____________

3. Amount financed [1+2] $___________

4. Total of payments $____________

5. Annual Percentage Rate ___%



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The forms are samples provided for discussion purposes only. Should you decide to use any of them in your business or personal activities, it is advised that you have them reviewed by competent legal counsel.