Promissory Note Payable in Instalments with Default Clause by Shiva.

Promissory Note Payable in Instalments with Default Clause

I, . . . . . . . . , aged about . . . . . . . . years, son of . . . . . . . . , resident of . . . . . . . . , promise to repay to . . . . . . . . , aged about . . . . . . . . years, son of . . . . . . . . . . ., resident of . . . . . . . . ., the sum of Rupees . . . . . . . . (Rs. . . . .) only, which I have this day borrowed, as follows:

Rs . . . . . . . . with interest at . . . . . . . . % per annum from the date hereof until repayment by the 10th of next month and the residue in three instalments with interest at the same rate from the date hereof until repayment by the 10th of each subsequent month.

In default or delay by one week of any instalment the entire balance then due with interest shall become immediately repayable.

DATED AND DELIVERED at . . . . . . . . this the . . . . . . . . day of . . . . . . . . , 20. . . . . .

Sd . . . . . . . . . . .

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