Fill and Sign the Promissory Note Church Form

PROMISSORY NOTE $ ________ ________ ________ _______ __ , 2 ___ FOR VALUE RECEIVED, the undersigned ___________________________ , a Mississippi nonproft corporation, does hereby promise to pay to ___________________________ , a __________ nonprofit corporation, or order, the sum of ___________________________ , said sum to bear no interest. The said sum shall be payable at ___________________________ ________ , ___________ _____ , or at such other place as the holder hereof may designate in writing, in ___________________________ installments of $ ___________________________ with the first payment to be made on ___________________________ , and each subsequent monthly installment shall be due and payable on the first day of each succeeding month thereafter until the entire indebtedness evidenced by this Note is fully paid, except any remaining indebtedness, if not sooner paid, shall be due and payable on ___________________________ . The undersigned may prepay the principal amount outstanding in whole or in part without penalty. The holder of this Note may require that any partial prepayments (I) be on the date monthly installments are due, and (ii) be in the amount of that part of one or more monthly installments which would be applicable to principal. Any partial prepayment shall be applied against the principal amount outstanding and shall not postpone the due date of any subsequent monthly installments or change the amount of such installments, unless the holder of this Note shall otherwise agree in writing. The undersigned further promise to pay the holder of this Note a late charge of Four Percent (4%) of any monthly installment not received by the Note bolder within fifteen (15) days after the installment is due. It is agreed that in the event default is made in the payment of this Note at maturity, or of any installment thereof whether maturing by expiration of time, by default as herein provided, or as provided in the Deed of Trust given in security hereof, and the same is placed in the hands of an attorney for collection, then an additional amount of Ten Percent (10%) on the principal and interest of this Note shall be added to the same as a collection fee, and the failure to pay any installment when due shall mature the entire indebtedness at the option of the holder of this Note. The makers, signers, drawers, guarantors, sureties and endorsers hereof severally waive presentation for payment, demand, protest, diligence in collecting, notice of dishonor, notice of extension of time, and notice of protest or nonpayment. This Note is to be secured by a Deed of Trust on certain real estate located in the First Judicial District of ___________________________ County, ___________ , as described in said Deed of Trust. WITNESS OUR SIGNATURE, the day and date first above named. ________________ By: ___________________________________ ___________________________ ___________________________