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Promissory Note - Open Debt








PROMISSORY NOTE
(For Open Account Debt)

FOR VALUE RECEIVED, the undersigned promise to pay to the
order of __________________________ , the sum of_____________
($ ) Dollars, together with interest thereon at the
rate of __ % per annum on the unpaid balance.

Said principal and interest shall be payable as follows:
(Describe Terms)


The undersigned may prepay this Note in whole or in part
without penalty. In the event any payment due hereunder is not
paid when due, the entire balance shall be immediately due and
payable upon demand of the holder. Upon default, the
undersigned shall pay all reasonable attorney fees and costs
necessary for the collection of this Note.

This Note is executed to evidence an existing
indebtedness due the payee from the undersigned on an open
account balance as of this date, and this Note shall not be
construed as a separate obligation.

Signed under seal this _____day of _________, 19__.


____________________________

Form 107

 
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