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EXHIBIT 4.2
SPECIMEN
PROMISSORY NOTE
This Promissory Note is by and between RIVERSIDE PARKWAY, INC.
(Promissory), and ____________________ (Promise).
By the terms of this Note, Promisor does hereby agree and promise to
pay Promise the sum of __________________ ($_________) plus eight percent (8%)
interest per annum on this sum of money six (6) months from the date of this
Note, provided however, that this Note may be extended at the end of this six
(6) month period for an additional six (6) month period at the option of either
party upon notice of intent to extend being given to the other party on of
before the date of note maturity, and subject to approval of such extension by
the parties. Renewal of this note may continue by mutual agreement of the
parties for two (2) additional six (6) month periods.
Upon maturity of this Note as originally agreed or as extended by
mutual agreement to renew, the moneys due and owing to Promise may be taken in
cash or converted to shares of common stock in RIVERSIDE PARKWAY, INC., equal
to the sum of moneys due and owing to Promisee, with said election to be made
by Promisee at the time of the Note maturity.
Interest on the loaned moneys described herein shall be paid to
Promisee quarterly at the rate of eight percent (8) per annum throughout the
entire term of the Note as originally agreed or as extended by mutual agreement
to renew.
Dated this ________ day of ________________, 199_.
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L. Wm. Xxxxx, Jr. - Chairman/CEO
Riverside Parkway, Inc.
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Xxxxxxx X. Lower - President
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Promisee
