Promissory Note With Acknowledgement

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Excerpt:

PROMISSORY NOTE This Promissory Note (the Note) is made and effective the [DATE] TERMS FOR VALUE RECEIVED the undersigned Borrower hereby jointly and severally promise to pay to the order of Lender the sum of [AMOUNT] together with interest thereon at the rate of [%] per annum on the unpaid balance. Said sum shall be paid in the following manner: All payments shall be first applied to interest and the balance to principal. This note may be prepaid at any time in whole or in part without penalty. This note shall be at the option of any holder

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