Moorestown, New Jersey
May 1, 1983
For value received, the undersigned Edward A. Jacobson hereinafter called Maker, promises to pay to the order of Gary Freedman of Sylvania House, Philadelphia, Pennsylvania, hereinafter called Holder, the sum of Seven Thousand Dollars ($7,000.00) with interest at the rate of eighteen percent (18%) per annum. No monthly payment of principal shall be due, but monthly interest at the rate of 18% per annum on the unpaid principal shall be due on the first of each month. The Maker shall have the right to prepay all or part of the interest and principal without penalty for prepayment.
The Holder of the note, Gary Freedman, shall have the right to receive the entire amount of principal and unpaid interest upon (3) days notification to Edward A. Jacobson.
EDWARD A. JACOBSON