Promissory Note



State of Florida            $__________________________            Date:__________________

                                                Principal Amount



For Value Received, __________________________________, promises to pay to the order of Oxford Adoption Foundation, Inc., 4309 Crayton Road, Naples, FL  34013 (“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 following rate and in the following manner:


0% interest for the first three years

3% interest for the next three years

6% interest for the remaining three years

9 Year loan


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.  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 hereto 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.




____________________________________            __________________________________

Signature                                                                      Signature


____________________________________            __________________________________

Printed Name                                                               Printed Name