BALLOON MORTGAGE NOTE

$__________________ _____________________________

_____________________________

FOR VALUE RECEIVED, the undersigned, (jointly and severally, if more than one)

promises to pay to _______________, of _________________________, or order, in the manner hereinafter specified, the principal sum of ___________________ Dollars ($__________) with interest from date at the rate of ________ percent (_____%) per annum on the balance from time to time remaining unpaid. The said principal and interest shall be payable in lawful money of the United States of America at the address stated above, or at such place as may hereafter be designated by written notice from the holder to the maker hereof, on the date and

in the manner following:

Principal and interest payments of $___________ each, due on or before the ______ day

of each month, beginning ________________, 19____, and continuing each month thereafter for a

period of ____ years.

Then on _____________, simultaneously with the payment of the ____ monthly payment,

the full amount of unpaid principal, plus accumulated interest and any advances made, shall

balloon and become immediately and fully due and payable, without demand.

This note with interest is secured by a mortgage on real estate, of even date herewith,

made by the maker hereof in favor of the said payee, and shall be construed and enforced

according to the laws of the State of _____________. The terms of said mortgage are by this

reference made a part hereof.

If default be made in the payment of any of the sums or interest mentioned herein or in said

mortgage, or in the performance of any of the agreements contained herein or in said

mortgage, then the entire principal sum and accrued interest shall at the option of the holder hereof

become at once due and collectible without notice, time being of the essence; and said principal

sum and accrued interest shall both bear interest from such time until paid at the highest rate

allowable under the laws of the State of ______________.

Failure to exercise this option shall not constitute a waiver of the right to exercise the same

in the event of any subsequent default.

Each person liable hereon whether maker or endorser, hereby waives presentment,

protest, notice, notice of protest and notice of dishonor and agrees to pay all costs, including a

reasonable attorney's fee, whether suit be brought or not, if, after maturity of this note or default

hereunder, or under said mortgage, counsel shall be employed to collect this note or to protect the

security of said mortgage.

Whenever used herein the terms "holder", "maker" and "payee" shall be construed in the

singular or plural as the context may require or admit.

"Maker"

_________________________