Form of Revolving Loan Note



 Exhibit 10.27 
 REVOLVING LOAN NOTE 
  

									
	  
	 		 		 	Date:	 	
                    
     

	Jacksonville, Florida	 		 		 		 	

 For value received, JACKSONVILLE BANCORP, INC., a Florida corporation (the “Borrower”),
promises to pay to the order of                     , an individual (hereinafter, together with any holder of this Revolving Loan Note, the
“Lender”), on or before Revolving Loan Maturity Date, the lesser of
(A)                                dollars
($            ) and (B) the aggregate principal amount of all Revolving Loans outstanding under and pursuant to that certain Loan Agreement dated as
of                     , between the Borrower and the Lender (as amended, restated, supplemented, or otherwise modified from time to time, the
“Loan Agreement”), and made available by the Lender to the Borrower at the maturity or maturities and in the amount or amounts stated provided in the Loan Agreement, together with interest (computed as provided in the Loan
Agreement) on the aggregate principal amount of all Revolving Loans outstanding from time to time as provided in the Loan Agreement. Defined terms used but not defined in this Revolving Loan Note are as defined in the Loan Agreement. 

This Revolving Loan Note evidences the Revolving Loans and other indebtedness incurred by the Borrower under and pursuant to the Loan
Agreement, to which reference is hereby made for a statement of the terms and conditions under which the Revolving Loan Maturity Date or any payment hereon may be accelerated. The holder of this Revolving Loan Note is entitled to all of the benefits
and security provided for in the Loan Agreement. All Revolving Loans shall be repaid by the Borrower on the Revolving Loan Maturity Date, unless payable sooner pursuant to the provisions of the Loan Agreement. Principal and interest are to be paid
to the Lender as provided in the Loan Agreement. 
 Except for notices required under the Loan Agreement, the Borrower hereby
(1) waives presentment, demand, notice, protest, and all other demands or notices in connection with the delivery, acceptance, performance, default, or enforcement of this Revolving Loan Note, and (2) assents to any extension or
postponement of the time of payment or any other indulgence. 
 The Revolving Loans evidenced hereby have been made, and this
Revolving Loan Note has been delivered, in Jacksonville, Florida. This Revolving Loan Note is governed by, and is to be construed in accordance with, the laws of the state of Florida, in which state it will be performed. This Revolving Loan Note is
binding upon the Borrower and its legal representatives, successors, and assigns. Wherever possible, each provision of the Loan Agreement and this Revolving Loan Note are to be interpreted so as to be effective and valid under applicable law, but if
any provision of the Loan Agreement or this Revolving Loan Note is prohibited by or invalid under any such law, that provision will be severable and ineffective to the extent of that prohibition or invalidity, without invalidating the remaining
provisions of the Loan Agreement or this Revolving Loan Note. 
 [SIGNATURE PAGE FOLLOWS] 

  
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 The Borrower is signing this Revolving Loan Note as of the date stated in the caption on the
first page. 
  

			
	JACKSONVILLE BANCORP, INC., as the Borrower
		
	By:	 	  

	Name:	 	  

	Title:	 	  



 Signature Page to 
 Revolving Loan Note 







 Schedule to Exhibit 10.27 
 The form of Revolving Loan Note was executed by the following persons for the amounts set forth beside their names: 
 R.C. Mills and Lois V. Mills - $300,000 
 Donald E. Roller (through living trust) - $200,000

 Chelsea Rose - $50,000 
 John W. Rose
and Cheryl Rose - $100,000 
 John W. Rose (through 401(k) account) - $150,000 
 Price W. Schwenck - $200,000 
 Price W. Schwenck - $100,000 

Triad Financial Services, Inc. - $50,000