For the value received on this date......I (we) promise to pay MHSCCU the sum of GMD....... payable in consecutive monthly installment of GMD.......... Together with interest commencing within one month of receipt of the loan until the full amount has been paid with interest. Incase of default in payments herein agreed, the entire balance of this note shall immediately become due and payable at the option of the holder. I (we) hereby pledge all paid savings and payments on this account of savings, which I (we) now have or here after may have in this Credit Union as security for repayments of this loan together with interest, costs and expenses.