promissory note _short form_

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					                                      Promissory Note


          FOR VALUE RECEIVED, ___________________ promises to pay to
____________________., (the “Company”) a New York Corporation, the principal sum
of ______________________________ dollars ($___0,000.00), together with interest on
the unpaid principal hereof from the date hereof at the rate of seven percent (7%)
compounded annually and paid in 120 monthly installments of ________ (“Payments“).
Payments are due to the Company on the first of each month.

           Should the undersigned fail to make full Payments for a period of 30 days or
more after the due date thereof, the whole unpaid balance on this Note of principal and
interest shall become immediately due at the option of the holder of this Note.

             All monies received by the Company shall be applied first to interest, then to
principal.

          The undersigned may at any time prepay all or any portion of the principal or
interest owing hereunder.

        This note is subject to the terms of the Operating Agreement dated as of this
same date. Acceleration or def
				
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Description: sample promissory note, simplified Not a substitute for attorney
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