State of Alabama

Rev. 133C5EF

PROMISSORY NOTE
$1,000.00 USD

Dated: January 17, 2018

FOR VALUE RECEIVED, the undersigned, Jonathan M Hunt (“Borrower”), hereby promises to pay to the
order of Erika T Haynes (“Lender”), the principal sum of $1,000.00 USD (the “Principal Amount”) in
accordance with the terms set forth below.
1. Payment. The Principal Amount of this Promissory Note (this “Note”) together with all other charges,
costs and expenses, is due and payable on March 17, 2018 (the “Maturity Date”).
2. Costs and Fees. Upon the occurrence of a default by Borrower, Borrower shall pay to Lender all costs
of collection, including reasonable attorney's fees.
3. Waiver. Borrower and all sureties, guarantors and endorsers hereof, waive presentment, protest and
demand, notice of protest, demand and dishonor and nonpayment of this Note.
4. Successors and Assigns. This Note will inure to the benefit of and be binding on the respective
successors and permitted assigns of Lender and Borrower. Borrower may not assign its rights or delegate
its duties under this Note without Lender’s prior written consent.
5. Amendment. This Note may be amended or modified only by a written agreement signed by Borrower
and Lender.
6. No Waiver. Lender shall not be deemed to have waived any provision of this Note or the exercise of
any rights held under this Note unless such waiver is made expressly and in writing. Waiver by Lender of
a breach or violation of any provision of this Note shall not constitute a waiver of any other subsequent
breach or violation.
7. Severability. In the event that any of the provisions of this Note are held to be invalid or
unenforceable in whole or in part, the remaining provisions shall not be affected and shall continue to be
valid and enforceable as though the invalid or unenforceable parts had not been included in this Note.
8. Notifications. Any notice or communication under this Note must be in writing and sent via delivery in
person, certified or registered mail (postage prepaid, return receipt requested), email, and addressed to
the following (or to another address that either party may designate upon reasonable notice to the other
party:
If Lender:
1608 Turnpike Drive
Huntsville, AL 35816
If Borrower:
673 Rivendell Drive
Youngstown, OH 44503

Promissory Note (Rev. 133C5EF)

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9. Governing Law. This Note shall be governed by and construed in accordance with the laws of the
State of Alabama.
10. Disputes. Any dispute arising from this Agreement shall be resolved through mediation. If the dispute
cannot be resolved through mediation, then the dispute will be resolved through binding arbitration
conducted in accordance with the rules of the American Arbitration Association.

IN WITNESS WHEREOF, the undersigned has executed this Note as of the date first stated above.

SIGNATURES

Borrower Signature

Promissory Note (Rev. 133C5EF)

Jonathan M Hunt
Borrower Full Name

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GENERAL INSTRUCTIONS
WHAT IS A PROMISSORY NOTE?
A Promissory Note is a legal document that sets
out the details of a loan made between two
people, a borrower and a lender. The note
clearly outlines the borrower's promise to fully
repay the lender within a specified amount of
time.
Since this type of document includes all the
terms and conditions of the loan transaction, this
ensures the parties have a thorough and
complete written record of the deal and their
intentions. As such, the note should be finalized
before any money changes hands. The
document also acts as a formal record of the
transaction.
A Promissory Note protects the rights of both the
borrower and the lender. Reducing the terms
and conditions to writing helps make the parties
address and discuss the important terms of the
loan transaction ensuring that they are clear and
fair to both parties. The document can prevent
the lender from taking advantage of the borrower
in relation to the repayment of the loan and it can
serve to protect the money loaned by the lender.
While the existence of the Promissory Note itself
does not necessarily guarantee that the borrower
will repay the money back in a timely manner,
the presence of such a document can help to
support the lender's claim if legal action has to
be taken to reclaim any money. At a minimum,
the parties have a written agreement evidencing
that a loan has taken place.
WHEN SHOULD ONE BE USED?
There are a number of different scenarios in
which a Promissory Note should be used. If any
of the following circumstances apply, you should
consider using a Promissory Note to protect your
interests:
- If you borrow money from an individual lender
or a business and you want to document the
terms and conditions of the loan in writing.
- If you plan to loan any amount of money to
another individual or entity and you want to
create a formal record of the transaction and
specify the terms of repayment.

Promissory Note (Rev. 133C5EF)

- If you borrow money from an individual lender
or a business and you want to document the
terms and conditions of the loan in writing.
- If you plan to loan any amount of money to
another individual or entity and you want to
create a formal record of the transaction and
specify the terms of repayment.
- If you are either the borrower or lender in a
loan transaction which involves interest on the
principal amount of the loan.
- If you are either the borrower or lender and
want a written record defining the loan
repayment schedule.
SITUATIONS IN WHICH A PROMISSORY
NOTE IS COMMONLY USED
- Private or personal lending between friends,
family members, neighbors or colleagues.
- Down payments on property
- Mortgages or real estate loans
- Student or educational loans
- Commercial or business loans
- Loans for car or vehicle purchases
WHAT TO INCLUDE
When creating a Promissory Note, it is important
to include certain information. To make sure the
document is complete, you should include the
following:
- Full details of the lender including the name
and address
- Full details of the borrower including the name
and address
- Principal amount of the loan
- Any interest accrued on the loan and the rate of
interest
- Repayment options
- Repayment schedule
- Any additional stipulations relating to the loan
such as prepayment or default of the loan
REPAYMENT OPTIONS
The Promissory Note should clearly set out the
repayment schedule so that there is no question
as to how and when the borrower must repay the
principal amount of the loan and interest (if
applicable) to the lender. The most common
types of repayment options are lump sum
payments, installment payments and "due on
demand" payments.