FOR VALUE RECEIVED, the undersigned promise to pay to the order of _______________________ the sum of _______________________________ Rupees (Rs.______), with annual interest of _________% on any unpaid balance.


This note shall be paid in ________consecutive and equal instalments of Rs.______ each with a first payment one _____ from the date hereof, and the same amount on the same day of each _______ thereafter, provided the entire principal balance and any accrued but unpaid interest shall be fully paid on or before________________, 20____. This note may be prepaid without penalty.


All payments shall be first applied to interest and the balance to principal.


This note shall be due and payable upon demand of any holder hereof should the undersigned default in any payment beyond _____ days of its due date. All parties to this note waive presentment, demand and protest, and all notices thereto. In the event of default, the undersigned agree to pay all costs of collection and reasonable attorney's fees. The undersigned shall be jointly and severally liable under this note.


Signed this _____day of __________, 20_____


Signed in the presence of



______________________________      ______________________________ Witness Signature                                                      Maker Signature


______________________________      ______________________________



Witness                                                      Maker