Terms and Conditions

For value received, the endorser on the form above promises to pay to the order of Commonwealth Dentistry (the "Lender"), at 3434 Kildaire, Farm Rd, #350, Cary, North Carolina 27518, the sum of the Amount Financed with no interest.

1. Terms of Repayment
   1. Payments - The unpaid principal shall be payable beginning with a $500 down payment the date of enrollment followed by monthly installments over a 12 or 24 month period after which time the remaining unpaid balance of the Note shall be due in full.
   2. Late Fee – The borrower promises to pay a late charge of $100.00 for each installment that remains unpaid more than fourteen days after its Due Date. This late charge shall be paid as liquidated damages in lieu of actual damages, and not as a penalty. Payment of such late charge shall, under no circumstances, be construed to cure any default arising from or relating to such late payment.
   3. Acceleration of Debt – If any payment obligation under this Note is not paid when due, the remaining unpaid principal balance and any accrued interest shall become due immediately at the option of the Lender.
2. Prepayment – The Borrower reserves the right to prepay this Note (in whole or in part) prior to the Due Date with no prepayment penalty.
3. Collections Costs – If any payment obligation under this Note is not paid when due, the Borrower promises to pay all costs of collection, including reasonable attorney fees, whether or not a lawsuit is commenced as part of the collection process.
4. Default – If any of the following events of default occur, this Note and any other obligations of the Borrower to the Lender, shall become due immediately, without demand or notice:
   1. The failure of the Borrower to pay the principal and any accrued interest when due;
   2. The liquidation, dissolution, incompetency or death of the Borrower;
   3. The filing of bankruptcy proceedings involving the Borrower as a debtor;
   4. The application for the appointment of a receiver for the Borrower;
   5. The making of a general assignment for the benefit of the Borrower’s creditors;
   6. The insolvency of the Borrower;
   7. A misrepresentation by the Borrower to the Lender for the purpose of obtaining or extending credit; or
   8. The sale of a material portion of the business or assets of the Borrower.
5. Severability of Provisions – If any one or more of the provisions of this Note are determined to be unenforceable, in whole or in part, for any reason, the remaining provisions shall remain fully operative.
6. Miscellaneous – All payments of principal on this Note shall be paid on the legal currency of the United States. The Borrower waives presentment for payment, protest, and notice of protest and demand of this Note.
   
   No delay in enforcing any right of the Lender under this Note, or assignment by Lender of this Note, or failure to accelerate the debt evidenced hereby by reason of default in the payment of a monthly installment or the acceptance of a past-due installment shall be construed as a waiver of the right of the Lender to thereafter insist upon strict compliance with the terms of this Note without notice being given to Borrower. All rights of the Lender under this Note are cumulative and may be exercised concurrently or consecutively at the Lender’s option.
   
   This note may not be amended without the written approval of the holder.
7. Governing Law – This Note shall be construed in accordance with the laws of the State of Virginia.

Last Updated: November 16, 2023