Special Purchase-Installment Promissory Note/Payroll Deduction Authorization

Full Name: CITY MATTRESS
Address: 12660 BONITA BEACH ROAD BONITA SPRINGS, FL 34135    (Hereinafter referred to as the Lender)

PAPERWORK MUST BE FILLED OUT AND APPROVED BEFORE DELIVERY IS TAKEN ON MERCHANDISE

Hereinafter referred to as the Borrower(s)
Copy of Note will be emailed to you
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Copy of note will be sent to Manager
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Sales Order Date*
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Merchandise delivery date*
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For product on sales order referenced above, the Borrower hereby unconditionally promises to pay to the order of Lender the sum of the entire Sales Order Amount referenced above together with interest accrued at the rate of ZERO percent per year on any unpaid balance.

Repayment Terms-BIWEEKLY PAID EMPLOYEES ONLY
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$
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Repayment Terms-WEEKLY PAID EMPLOYEES ONLY - (Prana factories in FL&NY; Whse in NY)
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$
Divide total sales order by number of pays

Payment Terms
Borrower will pay the number of payments referenced in repayment terms above in the payment amount referenced above. Payments will be deducted out of biweekly or weekly payroll checks whichever is applicable, starting on the next pay cycle after the loan sign date until the Principal amount and accrued interest is paid in full. All payments shall first be applied to outstanding late fees, then to interest and the balance to the Principal amount.

Prepayment: The Borrower may prepay this Note in full or in part at any time without premium or penalty. All prepayments shall first be applied to outstanding late fees, then to accrued interest and thereafter to the principal loan amount.

Acceleration of Debt upon Default/Termination: If the Borrower is no longer employed by City Mattress, the outstanding balance of the loan becomes immediately due and may be deducted from any funds due to the Borrower, including, but not limited to, payroll checks, bonus checks, and payments for vacation/benefits in lieu.

Security: This is an unsecured Note.

Jurisdiction: This Note shall be construed, interpreted and governed in accordance with the laws of the State of FLORIDA and should any provision of this Note be judged by an appropriate court of law as invalid, it shall not affect any of the remaining provisions whatsoever.

Paragraph headings are for convenience of reference only and are not intended to have any effect in the interpretation or determining of rights or obligations under this Note.

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