For value received, __________ ("Borrower") promises to pay __________ ("Lender") the principal sum of $__________, with interest at __________% per year.

1. Payments

Borrower shall pay $__________ per month beginning __________, until paid in full. All remaining principal and interest is due on __________.

2. Prepayment

Borrower may prepay all or part of the balance at any time without penalty.

3. Security

This note is secured by a mortgage or deed of trust on the property at __________.

4. Default

If any payment is more than 15 days late, Lender may declare the entire balance immediately due after written notice and an opportunity to cure.

5. Governing Law

This note is governed by the laws of the State of __________.