8% Term Note Sample Contracts

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DELTA MUTUAL, INC. AMENDED AND RESTATED 8% TERM NOTE
8% Term Note • April 15th, 2008 • Delta Mutual Inc • Services-business services, nec • Pennsylvania

FOR VALUE RECEIVED, DELTA MUTUAL INC., a Delaware corporation (the "Company"), with offices at 111 North Branch Street, Sellersville, PA 18960, promises to pay _____________________ (the "Lender"), in care of __________ in lawful money of the United States of America, the principal sum of ______Thousand Dollars ($_______), together with interest from the date of this Note on the unpaid principal balance at a rate equal to eight percent (8%) per annum, computed on the basis of a year of 360 days. The principal amount, shall be due and payable in seven installments, each in the amounts indicated on (i) the Payment Dates (as defined below), or (ii) when, upon or after the occurrence of an Event of Default (as defined below), such amounts are declared due and payable by Lender or made automatically due and payable in accordance with the terms hereof.

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