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CALIFORNIA STANDARD PROMISSORY NOTE <br /> On the day of 20 , hereinafter known as the "Start <br /> Date", [Borrower's Name] of <br /> [Borrower's Mailing <br /> Address], hereinafter known as the "Borrower", has received and promises to payback <br /> [Lender's Name] of <br /> [Lender's Mailing <br /> Address], hereinafter known as the "Lender", the principal sum of <br /> US Dollars ($ ) with interest accruing on the <br /> unpaid balance at a rate of percent (%) per annum, hereinafter known as the <br /> "Borrowed Money", beginning as of the Start Date in the manner as follows: <br /> c. PAYMENTS: The full balance of this Note, including all accrued interest and late <br /> fees, is due and payable on the day of 20 , hereinafter <br /> known as the "Due Date". <br /> A. Installment(s). (check the applicable box) <br /> (c) - LUMP SUM — Borrower shall pay a lump sum to be made in-full, principal <br /> and interest included, of Dollars <br /> ($ ) by the Due Date. <br /> (d)- INSTALLMENTS — Borrower shall pay principal and interest in the amount of <br /> Dollars ($ ) on <br /> a weekly basis with any remaining balance payable on the Due Date. <br /> a monthly basis with any remaining balance payable on the Due Date. <br /> a quarterly basis with any remaining balance payable on the Due Date. <br /> LATE FEE - There shall be a late payment fee of Dollars <br /> ($ ) if an installment is not paid on-time along with the default interest due, <br /> as described in Section 3, if the Lender does not receive the installment on the <br /> due date. <br /> (f) SECURITY: (check the applicable box) <br /> (d)- UNSECURE — There shall be NO SECURITY provided in this Note. <br /> (e)- SECURE — There shall be Property described as <br /> hereinafter known as the "Security", which <br /> shall transfer to the possession and ownership of the Lender IMMEDIATELY pursuant <br /> Page 48 of <br /> 54 <br />