LONG TERM INSTALLMENT NOTE
Obligor # 8467416508 Obligation #
Newark, New Jersey
May 16, 1995
FOR VALUE RECEIVED, and intending to be legally bound hereby, the Borrower, jointly and severally and
unconditionally promises(s) to pay to the order of First Fidelity Bank, N.A., New Jersey (the "Bank") the
principal sum of fifty-nine thousand five hundred eighty three & 26/100 dollars ($59,583.26) in accordance with
the payment provisions hereinafter set forth.
A. TERMS OF NOTE.
1. PRINCIPAL PAYMENTS. The outstanding principal balance hereunder shall be paid in thirty-six (36)
consecutive /x/ monthly / / quarterly installments in the amount of one thousand six hundred sixty-six & 67/100
Dollars ($1,666.67) each, commencing on June 15, 1995, and continuing on the same day of each consecutive
period thereafter, with a final installment in the amount of the remaining unpaid principal balance outstanding
hereunder due and payable on May 15, 1998. If the foregoing blank spaces are not completed, the outstanding
principal balance hereunder shall be paid on __________, 19__.
2. INTEREST PAYMENTS. The Borrower agrees to pay to the Bank, interest, in arrears, on the outstanding
balance hereunder monthly (unless principal payments are due quarterly, in which case interest is due quarterly)
until the entire principal balance hereunder, together with accrued, unpaid interest thereon is paid in full. Interest
on the principal balance outstanding hereunder shall accrue at (i) the Bank's Base Rate (hereinafter defined) plus
two percent (2%) per annum or (ii) a per annum rate of ________ percent (_____%).
3. COMPUTATION OF INTEREST. Interest charged hereunder shall be computed daily on the basis of a 360
day year for the actual number of days elapsed.
4. PAYMENT TERMS. All payments made hereunder shall be made on the due date thereof, in immediately
available funds and in lawful currency of the United States of America. All payments made hereunder shall be