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Free Promissory Note - DOC - DOC

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					  [This is a model promissory note only. As laws vary by state it is important to have this
                      document reviewed by legal counsel before use.]

                                        Promissory Note
$ __________ . ____

______________ COUNTY                                                       DATE: ______________

STATE OF _____________

I, __________________________________________________, the undersigned (the "Maker"),
being over eighteen (18) years of age, do hereby unconditionally and irrevocably promise to pay to
the Delta Phi Fraternity, Inc., a New York not-for-profit corporation having an address at PO Box
81521, Athens, Georgia 30608-1521 (the "Holder"), the amount of $___________ (the "Principal
Amount") to be held for the benefit of the __________ Chapter of Delta Phi. Said Principal
Amount (to include any further debt in addition thereto incurred by me) shall be paid in
installments, and free of interest, as shown in 'Exhibit 'A,' attached hereto. My liability under this
note shall not be in any manner affected by any waiver or indulgence, whatsoever, granted or
consented to by the Holder hereof, including, but not limited to, any extension of time, renewal,
waiver of any provision or any other modification. The Holder of this note at all times shall have
the rights, powers and remedies herein or by law provided. This note may not be changed or
terminated orally.

Time is of the essence for my performance under this note; it is expressly understood and agreed
that if default is made in the payment of any of the aforesaid installments, or any part thereof, as and
when the same shall become due and payable, then, and in such event, the entire unpaid balance of
the aforesaid Principal Amount, at the sole option of the Holder hereof, shall be immediately due
and payable. In the event of such default and the acceleration of the unpaid balance, said amount
shall bear interest at the rate of ten percent (10%) per annum from the date of non-payment of the
principal installment. If said Principal Amount is collected, through an attorney at law, or by any
other means, the undersigned agrees to pay all costs of collection, including all attorney's fees. The
undersigned waives demand, protest, and notice of demand, protest and non-payment. This note is
to be construed in all respects and enforced according to the laws of the State of
__________________. The undersigned may prepay at any time without penalty.

All notices given hereunder shall be in writing and shall be deemed made when sent by Federal
Express (or other express service) or certified mail, return receipt requested, to the address stated
herein of the party to whom notice is given. The Maker or the Holder may change the address to
which notice is to be given by giving notice to the other party.

IN WITNESS WHEREOF, and given under my hand and seal the date above written.

_____________________________________ (SEAL) Social Security #: __________________

Maker's Permanent Address: ______________________________________________________

Telephone Number: _____________________________________________________________
                  Exhibit 'A' to Promissory Note
                      Schedule of Payments
Installment Number                Amount Due                          Date Due
          1
          2
          3




     Thereafter              Any Unpaid Amounts                     On Demand

       This is the exhibit mentioned on page 1, paragraph 1 of this note.

				
DOCUMENT INFO
Description: This is an example of free promissory note. This document is useful in conducting free promissory note.