Fill and Sign the Kansas Fixed Rate Note Installment Payments Unsecured Form

Kansas Fixed Rate Note, Installment Payments - Unsecured - 1 - PROMISSORY NOTE (Fixed Rate, Installment Payments) ____________________, _____ ____________________ __________ [Date] [City] [State] ________________________________________ [Borrower(s) Address] 1. BORROWER’S PROMISE TO PAY In return for a loan that I have received, I promise to pay U.S. $_________ (th is amount is called “principal”), plus interest, to the order of the Lender. The Lender is ______________________________ ______________________________. I will make all payments under this Note in the form of cash, check, certified funds or money order at the option and direction of Lender. I understand that the Lender may t ransfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payme nts under this Note is called the “Note Holder.” 2. INTEREST Interest will be charged on unpaid principal until the full amount of principal has been pa id. I will pay interest at a yearly rate of __________ %. The interest rate required by this Section 2 i s the rate I will pay both before and after any default described in Section 6(B) of this Note. 3. PAYMENTS (A) Time and Place of Payments I will pay principal and interest by making a payment every month. I will mak e my monthly payment on the __________ day of each month beginning on ____________________, _____. I will make these payments every month until I have paid all of the principal and interest and any other charg es described below that I may owe under this Note. Each monthly payment will be applied as of its scheduled due date and will be applie d to interest before principal. If, on ____________________, _____, I still owe amounts under this Note, I will pay those amounts in full on that date, which is called the “maturity date.” I will make my monthly payments at ________________________________________ or at a differ ent place if required by the Note Holder. (B) Amount of Monthly Payments My monthly payment will be in the amount of U.S. $ _________. 4. BORROWER’S RIGHT TO PREPAY {initial desired provision} ___________________ I have the right to make payments of principal at any time before they are due. A payment of principal only is known as a “prepayment.” When I make a prepayment , I will tell the Note Holder in writing that I am doing so. I may not designate a paym ent as a prepayment if I have not made all the monthly payments due under the Note. I may make a full prepayment or partial prepayments without paying a prepay ment charge. The Note Holder will use my prepayments to reduce the amount of princip al that I owe under this Note. However, the Note Holder may apply my prepayment to the accrued and unpaid interest on the prepayment amount, before applying my prepayment to reduce the principal amount of the Note. If I make a partial prepayment, there will be no changes in the due date or in the amount of my monthly payment unless the Note Holder agrees in writing to those changes. Kansas Fixed Rate Note, Installment Payments - Unsecured - 2 - ____________________ I shall not have the right to prepay this Note unless I pay a prepayment penalty for ea rly prepayment in the amount determined by the Note Holder, not to exceed the maximum amount allowed by the laws of the state where the property is located. 5. LOAN CHARGES If a law, which applies to this loan and which sets maximum loan charges, is finally inter preted so that the interest or other loan charges collected or to be collected in connection with this lo an exceed the permitted limits, then: (i) any such loan charge shall be reduced by the amount necessary to reduce the charg e to the permitted limit; and (ii) any sums already collected from me which exceeded permitted limits will be r efunded to me. The Note Holder may choose to make this refund by reducing the principal I owe under this Note or by making a direct payment to me. If a refund reduces principal, the reduction will be treated as a partial prepayment. 6. BORROWER’S FAILURE TO PAY AS REQUIRED (A) Late Charge for Overdue Payments and Receipt of Payments If the Note Holder has not received the full amount of any monthly payment by t he end of __________ {enter days before late charges are due under your State’s laws} calendar days after the date it is due, I will pay a late charge to the Note Holder. The amount of the charge will be [ _____ % of my overdue payment of principal and interest or __________ dollars for each late payment]. I will pay this late charge prom ptly but only once on each late payment. In no event will the late charge exceed the maximum amount allowe d by the applicable state law. Payments to the note holder shall not be considered made until received by the Note Hold er at the address specified. Mailing is insufficient to constitute delivery to the Note Holder. The number of days required for payment of a late charge shall not be considered as a grace period for the payment date required under this Note and the Borrower shall be default if the payment is not paid on the due date. (B) Default If I do not pay the full amount of each monthly payment on the date it is due, I wil l be in default. (C) Notice of Default If I am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue amount by a certain date, the Note Holder may require me to pay immediately th e full amount of principal which has not been paid and all the interest that I owe on that amount. That date must be at least 30 days af ter the date on which the notice is mailed to me or delivered by other means. (D) No Waiver By Note Holder Even if, at a time when I am in default, the Note Holder does not require me to pay i mmediately in full as described above, the Note Holder will still have the right to do so if I am in def ault at a later time. (E) Payment of Note Holder’s Costs and Expenses If the Note Holder has required me to pay immediately in full as described above , the Note Holder will have the right to be paid back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those expenses include, for example, reasonab le attorneys’ fees. Kansas Fixed Rate Note, Installment Payments - Unsecured - 3 - 7. GIVING OF NOTICES Unless applicable law requires a different method, any notice that must be given t o me under this Note will be given by delivering it or by mailing it by first class mail to me at the Addre ss above or at a different address if I give the Note Holder a notice of my different address. Any notice that must be given t o the Note Holder under this Note will be given by delivering it or by mailing it by first class mail to the Note Holder at the address stated in Section 3(A) above or at a different address if I am given a notice of that diff erent address. 8. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fully and personally obligated to ke ep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who t akes over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obli gated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note against each pe rson individually or against all of us together. This means that any one of us may be required to pay all of the amounts owed under this Note. 9. WAIVERS I and any other person who has obligations under this Note waive the rights of presentm ent and notice of dishonor. “Presentment” means the right to require the Note Holder to demand payment of amounts due. “Notice of dishonor” means the right to require the Note Holder to give notice to other persons that amounts due have not been paid. WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED (Seal) __________________________________________ ______________________________, Borrower (Seal) __________________________________________ ______________________________, Borrower (Seal) __________________________________________ ______________________________, Borrower (Seal) __________________________________________ ______________________________, Borrower