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Installment Note - Accounting Under Truth In Lending Act



INSTALLMENT NOTE - ACCOUNTING UNDER TRUTH IN LENDING ACT

For value received, [Name of makers], of [addresses of makers], [city of makers], [state of makers], in this note referred to as makers, jointly and severally, promise to pay to the order of [Name of payee], of [address of payee], [city of payee], [state of payee], at [address of payee], [city of payee], [state of payee], $[Total amount of note] Dollars in consecutive monthly payments of $[Amount of installment] Dollars each, beginning [Period in months before payments begin] from the date of this note and thereafter continuing on the same day of each subsequent month until paid in full. Any unpaid balance may be paid, at any time, without penalty and any unearned finance charge will be refunded. In the event that makers default on any payment, a charge of Dollars $[Default penalty] may be assessed.

1. Proceeds $ [Amount of proceeds]

2. Itemization of other charges: $ [Itemization of other charges]

3. Amount financed (1 + 2) $

4. FINANCE CHARGE [Finance charge]

5. Total of payments $ [Total of payments]

ANNUAL PERCENTAGE RATE [Annual percentage rate]

Dated: [Date of agreement]



[Signatures of makers]