Promissory Note

This Promissory Note ("Note") is executed and delivered by Ethan Harris (the "Maker") of 789 Pine Lane, Dream Ville, Fantasia, 67890 on this day of January, 2050. The Maker promises to pay to the order of the payee mentioned below (the "Payee"), the principal sum of Three Hundred Dollars ($300) as a balance for a car, specified to be due on July 27, 1998, upon the terms and conditions described herein.

Loan Terms and Conditions

The Principal Sum is repayable, by Maker to Payee as prescribed under this Promissory Note, in equal monthly installments of due in arrears. The said amount is to be paid no later than the last day of every month consistently until the principal amount is fully discharged. Herein, each repayment installment will include the portion of the Principal Sum and any accumulated interest.

The Maker herein agrees to pay interest on the unpaid principal sum at a rate of 0.00 per cent per annum. Interest shall be calculated on the basis of a 365-day year and the actual number of days elapsed. Interest is required to be paid together with the repayment of the principal sum.

In the event of default, the Maker shall cure the default within 15 days after receiving written notice from the Payee. If the Maker fails to cure default within the said period, the Payee may declare the entire remaining principal sum due and payable immediately without notice or demand. Late payment will be subjected to a fee that shall not exceed the maximum amount permissible under applicable law.

Binding Effect

Maker herein assures that this Promissory Note shall be binding on Maker's heirs, executors, personal representatives, and assigns, and shall inure to the benefit of Payee's and its successors and assigns. By signing this Note, the Maker agrees to promptly notify Payee of any changes to Maker's contact information.

This Promissory Note shall be governed by and construed under the laws of Fantasia.

IN WITNESS WHEREOF, the Maker has executed this Promissory Note as of the day and year first above written

Ethan Harris
Principal Borrower

PAYEE
Signature

Promissory Note