Altho an ordinary promissory note form can be used in conjunction with either the promise or the assignment, it has been found more convenient in practice to adopt a special form of note

Promissory Note to be Given for Advances Made Under an Agreement on Figure 49.

Due......................

$...:............ ....................................191......

..........................................months after date..........promise to pay to

THE......................BANK at its office in..........................................................

the sum of ...................................................................................... Dollars, for value received.

This Note is given to The Canadian Bank of Commerce for an advance made to the undersigned under the terms of the application of the undersigned to the Bank, dated the..............day of

............191...., and the undersigned hereby promise to give the said Bank security for this Note, under Section 88 of the Bank Act, upon the "goods" mentioned in the said application, or by way of Warehouse Receipts or Bills of Lading for the same or part thereof, and the Manager of the said Bank, or the acting Manager for the time being, is hereby appointed the Attorney of the under signed to give from time to time to the Bank the security above mentioned and so sign the same on behalf of the undersigned.

The borrower to sign here also

,.................................................

Figure 52

Promissory Note and Promise for Casual Advances Under Section 88

Due....................................

$...................... .........................191......

..........................................after date.............promise to pay to

THE...........................BANK at its office in...................................................the sum of.............................................................................................Dollars, for value received.

The undersigned promise and agree to give the above-named Bank security for the above note and any renewal thereof under Section 88 of the Bank Act covering all the.........................................

which are now or may be from time to time owned by the undersigned, and which are now or may be in.....

situated .................................................................................................or by way of Warehouse Receipts or Bill of Lading for the same part thereof; and the Manager of the said Bank or the Acting Manager for the time being is hereby appointed the attorney of the undersigned, to give from time to time to the Bank the security above mentioned and to sign the same on behalf of the undersigned.

The borrower to sign here also

........................................................................

Figure 53

(Figure 52 or 53), with a promise to give security appended thereto. Both the note and the promise require to be signed. This form should be used in connection with all advances under Sections 86-88-90. The note should preferably be drawn on demand, as then the original note will remain current in the possession of the bank until the loan is retired. When taken on demand, the note is made to read with inter-terest, which is collected monthy. If advances are made on time notes, they will have to be renewed, and the old notes and all other documents retained, to show the continuity of the transaction. The file will show, therefore, the current note and, attached thereto, any renewed notes, the promise (if any), the pledge and the insurance policies. Where an account is operated under a general promise it is not necessary to repeat the descriptions, and a note, similar to Figure 52, is used.