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as <br />F~i6it A Form of Promiasorv Note from Comoanv to Bsnks <br /> <br />March ~, 2000 <br />FOR VALUE RECEIVED, the undersigned ORANGE COUNTY SMALL <br />BUSINESS LOAN PROGRAM COMPANY, a North Carolina nonprofit corporation <br />(the "Company"), promuises to pay to the order of <br />a [national banking association] [North Carolina banking corporation] (the "Bank"), <br />at its offices at North Carolina, <br />or at such other place as the holder hereof may from time to time designate in writing, the <br />principal suns of <br />Dollars ($ ~, <br />or so much thereof as may have been loaned and outstanding hereunder, together with <br />interest from the date hereof on the unpaid principal balance at the "Prime Rate," as <br />defined below, all in lawful money of the United States of America. <br />This is one of the Notes referred to in that certain Loan Agreement among the <br />Company, Orange County; North Carolina, the Bank, and certain other financial <br />institutions of even date herewith (the "Loan Agreement"). <br />Capitalized terms used in this Note and not otherwise defined have the meanings <br />ascribed thereto in the Loan Agreement <br />PRINCIPAL ADVANCES; INTEREST. Principal of this Note shall be <br />.advanced to the Company from time to time as provided under the Loan Agreement. <br />Each Advance shall bear interest from the date of such Advance at the Prime Rate. An <br />authorized Bank officer shall note the amount and date of each Advance on the <br />Certificate of Principal Advances, and shall also identify on the Certificate of Principal <br />Advances (in a manner reasonably acceptable to both the County and the Bank) the <br />corresponding Program Loan to which the Advance relates. For the purposes of this <br />Note, the "Prime Rate" means the interest rate so denominated and set by the Bank in its <br />discretion as its "Prime Rate," as in effect from time to time. Changes in the Prime Rate <br />