FOR VALUE RECEIVED, the undersigned, promises to pay to the order of American Land Company, the sum of $__________, together with interest thereon from date at the rate of _______. Payments of principal and interest shall be payable monthly beginning on the _____ day of _______, 2006 and continuing on the ____ day of each month thereafter until paid in full.
If default be made in the payment of any one installment or if maker hereof shall file a petition in bankruptcy then both principal and interest shall become immediately due and payable, without notice, at the option of the holder of this note. The failure of the holder to exercise this option or any other right to which the holder may be entitled shall not constitute a waiver of the right to exercise such option or any other right in the event of any subsequent default.
The makers, sureties, endorsers and guarantors of this note severally waive presentment for payment, notice of non-payment, protest and notice of protest and diligence in bringing suit against any party hereto, and consent that time of payment may be extended without notice thereof; and further severally agree that in case payment of this note shall not be made at maturity and the same is placed in the hands of an attorney at law for collection to pay the costs of collecting this note, including a reasonable attorney's fee, regardless of whether or not suit is brought.
All payments under this note shall be made at American Land Company, P. O. Box 720, Cherokee Village, AR. 72525, Payee.
This note is secured by a first deed of trust upon Lot ____of ___________, Camden County, Missouri .
Aa (Buyer of Property)
Ab (Buyer of Property)