Promissory Note
State
of
Principal
Amount
For Value Received, ______________________, promises
to pay to the order of A Child Waits Foundation, 1136 Barker Rd., Pittsfield,
MA 01201 (“Lender”), or such other place as the holder may designate in
writing, the sum of _____________ Dollars ($________), together with interest
from date of loan at the rate of _________ Percent (__%) per annum or the
unpaid balance until said Note is paid in full, in the following manner:
The term of this note shall be
for ____ months and in no event more than five (5) years. Payments shall become due and payable on the
first day of each and every month commencing one month from the date of this
Promissory Note. Interest shall accrue
from the date of this Promissory Note until the last payment which last payment
shall be made _____ months from the date of the making of this document. The last payment shall be all outstanding
principal and interest.
All payments shall be first
applied to interest and the balance to principal. This note may be prepaid, at any time, in
whole or in part, without penalty. All
prepayments shall be applied in reverse order of maturity.
This note shall at the option
of any holder hereof be immediately due and payable upon the failure to make
any payment due hereunder within ten (10) days of its due date.
In the event this note shall
be in default, and placed for collection, then the undersigned agree to pay an
additional one-third of the total loan for attorney fees and costs of collection. Payments not made within five (5) days of due
date shall be subject to a late charge of ten (10%) percent of said
payment. All payments hereunder shall be
made to such address as may from time to time be designated by any holder
hereof.
The undersigned and all other
parties to this note, whether as endorsers, guarantors or sureties, agree to
remain fully bound hereunder until this note shall be fully paid and waive
demand, presentment and protest and all notices thereto and further agree to remain
bound, notwithstanding any extension, renewal, modification, waiver, or other
indulgence by any holder or upon the discharge or release of any obligor
hereunder or to this note, or upon the exchange, substitution, or release of
any collateral granted as security for this note. No modification or indulgence by any holder
hereof shall be binding unless in writing; and any indulgence on any one
occasion shall not be an indulgence for any other or future occasion. Any modification or change of terms, hereunder
granted by any holder hereof, shall be valid and binding upon each of the
undersigned, notwithstanding the acknowledgment of any of the undersigned, and
each of the undersigned does hereby irrevocably grant to each of the others a
power of attorney to enter into any such modification on their behalf. The rights of any holder hereof shall be
cumulative and not necessarily successive.
This note shall take effect as a sealed instrument and shall be
construed, governed and enforced in accordance with the laws of the State first
appearing at the head of this note. The
undersigned hereby execute this note as principals and not as sureties.
Borrower(s):
Printed:
Guaranty
To induce Lender to make a Term
Loan, to Borrower pursuant to Lender’s Promissory Note and in consideration
thereof and intending to be legally bound, the undersigned hereby
unconditionally, irrevocably and absolutely guarantees to Lender the due and
punctual payment in full (and not merely the collectibility) of the principal
of and interest on this Promissory Note, when due and payable, whether on any
principal or interest installment payment date or at the stated or accelerated
maturity, all according to the Terms and Conditions of the Term Loan. Such guaranty is not conditioned or
contingent upon any attempt to collect from Borrower. The Guarantor hereby waives presentment and
demand for payment on the principle of or interest on the Promissory Note and
protest of non-payment and all other notices and demands required by law which
the undersigned may lawfully waive.
Guarantor hereby
unconditionally, absolutely and irrevocably, as a primary obligor and not
merely as a surety, guarantees to Lender the punctual and complete payment when
due, whether at or after maturity, upon acceleration or otherwise.
Guarantor agrees to remain
liable for any Borrower obligation regardless of any
change in the time, manner or place of payment of all or any of the obligations
now existing or hereafter coming into existence and arising from, by reason of,
or in any way relating to any of the terms, covenants, conditions or agreements
of the loan or any extensions of time for payment, whether in whole or in part,
of the terms of the loan or on the part of Borrower to be paid, performed or
observed, as applicable.
Co-signer(s):
Printed:
Address:
Phone: Social Security #
Acknowledgment
STATE OF ______________ )
)
ss.:
COUNTY
OF ____________)
On
the ____ day of _________ in the year 200__, before me, the undersigned,
personally appeared ____________________ personally known to me or proved to me
on the basis of satisfactory evidence to be the individual whose name is
subscribed to the within instrument and acknowledged to me that he executed the
same in his capacity, and that by his signature on the instrument, the
individual, or the person upon behalf of which the individual acted, executed
the instrument.
_______________________________
Notary Public
My Commission Expires:
Acknowledgment
STATE OF ______________ )
)
ss.:
COUNTY
OF ____________ )
On
the ____ day of _________ in the year 200_, before me, the undersigned,
personally appeared ____________________ personally known to me or proved to me
on the basis of satisfactory evidence to be the individual whose name is
subscribed to the within instrument and acknowledged to me that he executed the
same in his capacity, and that by his signature on the instrument, the
individual, or the person upon behalf of which the individual acted, executed
the instrument.
_______________________________
Notary Public
My Commission Expires: