Document:

THIS NOTE IS A GLOBAL SECURITY WITHIN
THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED
IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY. THIS NOTE IS
NOT EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN
THE DEPOSITORY OR ITS NOMINEE, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF
THIS NOTE AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR
BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF
THE DEPOSITORY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE.
Unless this Note is presented by an authorized representative
of The Depository Trust Company, a New York corporation (55 Water Street,
New York, New York) ("DTC"), to the Corporation or its agent for registration
of transfer, exchange or payment, and this Note is registered in the name
of Cede & Co. or such other name as requested by an authorized representative
of DTC, and unless any payment is made to Cede & Co.., ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL since the registered owner hereof, Cede & Co., has an interest
herein.

THIS NOTE IS NOT A SAVINGS ACCOUNT OR A DEPOSIT, IS NOT
AN OBLIGATION OF OR GUARANTEED BY ANY BANKING OR NONBANKING AFFILIATE OF
BANK OF AMERICA CORPORATION, AND IS NOT INSURED BY THE FEDERAL DEPOSIT
INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY.

[THIS NOTE IS SUBJECT TO INVESTMENT RISKS, INCLUDING THE
POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED. ]

REGISTERED                                                                                                           
$________________

NUMBER _______                                                                                                   
CUSIP ___________

BANK OF AMERICA CORPORATION

MEDIUM-TERM SENIOR NOTE, SERIES K

(Indexed Note)

/  /         
SEE THE ATTACHED PRINCIPAL REPAYMENT

             
AMOUNT RIDER for a description of the

             
PRINCIPAL REPAYMENT AMOUNT and its method of calculation.

/  /        
SEE THE ATTACHED INTEREST OR SUPPLEMENTAL PAYMENT AMOUNT

             
RIDER for a description of the INTEREST PAYMENT AMOUNTS OR THE SUPPLEMENTAL
PAYMENT AMOUNTS

             
and its method of calculation

ORIGINAL ISSUE DATE(1) :

MATURITY DATE:

CALCULATION AGENT:

ADDITIONAL TERMS:

MINIMUM DENOMINATIONS:

          BANK OF AMERICA
CORPORATION, a Delaware corporation (the "Corporation," which term includes
any successor corporation under the Indenture referred to on the reverse
hereof), for value received, hereby promises to pay to CEDE & CO.,
as nominee for The Depository Trust Company, or its registered assigns,
(i) that amount calculated according to the terms of the attached Principal
Repayment Amount Rider (the "Principal Repayment Amount") on the Maturity
Date specified above (except to the extent redeemed, repaid, or converted
prior to the Maturity Date or unless stated otherwise) and (ii) that amount
or amounts of interest (the "Interest Payment Amount(s)") or that supplemental
amount (the "Supplemental Payment

_______________________

(1)The form provides that interest will acrue from the Original Issue
Date.  In the event a series of Notes is reopened, interest will accrue
from the Original Issue Date for all tranches of Notes of that series. 
However, in the event a series of Notes is reopened, the authentication
date for each tranche ofNotes will be the date that tranche of Notes is
settles, which may be different from the Original Issue Date.

 

 

 

 
Amount") in either case calculated according to the terms attached to
the Interest or Supplemental Payment Amount Rider. The Corporation also
promises to pay the Interest Payment Amount(s) or Supplemental Payment
Amount on the date or dates specified on the attached Interest or Supplemental
Payment Amount Rider.

         The term "Maturity,"
when used herein, means the date on which the principal of this Note or
an installment of principal becomes due and payable in full in accordance
with the terms of this Note and of the Indenture, whether at the Stated
Maturity Date or by declaration of acceleration, call for redemption, prepayment
at the holder's option or otherwise.

         Any Interest Payment
Amounts or Supplemental Payment Amount not punctually paid or duly provided
for shall be payable as provided in the Indenture(2). As used herein, except
to the extent otherwise provided on the Principal Repayment Amount and
Interest or Supplemental Payment Amount Riders, "Business Day" means any
weekday that is not a legal holiday in New York, New York, Charlotte, North
Carolina, or any other place of payment with respect to this Note and that
is not a day on which banking institutions in those cities are authorized
or required by law or regulation to be closed(3).

       Except to the extent otherwise
provided under the Principal Repayment Amount Rider or the Interest or
Supplemental Payment Amount Rider, the Principal Repayment Amount and Interest
Payment Amounts or Supplemental Payment Amount on this Note are payable
in immediately available funds in such coin or currency of the United States
of America as at the time of payment is legal tender for payment of public
and private debts at the office or agency of the Corporation designated
as provided in the Indenture; provided, however, that the
Interest Payment Amounts or Supplemental Payment Amount may be paid, at
the option of the Corporation, by check mailed to the person entitled thereto
at his address last appearing on the registry books of the Corporation
relating to the Notes. Notwithstanding the preceding sentence, payments
of the Principal Repayment Amount and the Interest Payment Amounts or Supplemental
Payment Amount payable on the Stated Maturity Date will be made by wire
transfer of immediately available funds to a designated account maintained
in the United States upon (i) receipt of written notice by the Issuing
and Paying Agent (as described on the reverse hereof) from the registered
holder hereof not less than one Business Day prior to the due date of such
principal and (ii) presentation of this Note to The Bank of New York, as
Issuing and Paying Agent, 101 Barclay Street, New York, New York 10286
(the "Corporate Trust Office").

       For both this Note and Notes issued
in certificated form, the payment of principal of, premium (if any), accrued
interest, and any other amounts due on or after the Maturity Date will
be made only upon the presentation and surrender of such Note at the office
of the Trustee or successor thereof, and with respect to this Note, in
accordance with the procedures of DTC.

___________________

(2)This form does not contemplate th eoffer of Notes to United States
Aliens (for United States federal income tax purposes).  If Notes
are offered to U nited States Aliens, the form of Note, as used, may be
modified to provide for the payment of additional amounts to such United
States Aliens or, if applicable, the redemption of such Notes in lieu of
payment of such additional amounts.

(3)This form does not contemplate Notes denominated in a currency other
than United States dollars.  if the Notes are denominated in euro
or another specified currency other than United States dollars, the definition
of "Business Day" in this form of Note, as used, may be modified to contemplate
such denomination.

 

                                                                                          
2

 
         References herein to
"U.S. dollars," "U.S.$," or "$" are to the coin or currency of the United
States at the time of payment is legal tender for the payment of public
and private debts.

         Reference is hereby
made to the further provisions of this Note set forth on the reverse hereof
and on the attached Riders, which shall have the same effect as though
fully set forth at this place.

         Unless the certificate
of authentication hereon has been executed by the Trustee or an authenticating
agent on behalf of the Trustee by manual signature, this Note shall not
be entitled to any benefit under the Indenture or be valid or obligatory
for any purpose.

 

 

                                                                                          
3

       IN WITNESS WHEREOF, the Corporation
has caused this Note to be duly executed, by manual or facsimile signature,
under its corporate seal or a facsimile thereof.

                                                                             
BANK OF AMERICA CORPORATION

                                                                              
By:____________________________________

[SEAL]                                                                  
Title: Senior Vice President

ATTEST:

By:___________________________

Title: Assistant Secretary

                                                                                       
4

 

 

Certificate of Authentication

            This
is one of the Securities of the series designated therein referred to in
the within-mentioned Indenture.

Dated: ____________________________

                                                                          
THE BANK OF NEW YORK,

                                                                           
as Trustee

                                                                          
By:___________________________

                                                                                        
Authorized Signatory

 

 

                                                                                          
5

 

[Reverse of Note]

BANK OF AMERICA CORPORATION

MEDIUM-TERM SENIOR NOTE, SERIES K

(Indexed Note)

SECTION 1. General. This Note is one of a duly authorized series
of Securities of the Corporation unlimited in aggregate principal amount
(herein called the "Notes") issued and to be issued under an Indenture
dated as of January 1, 1995 (herein called the "Indenture"), between the
Corporation (successor to NationsBank Corporation) and The Bank of New
York, as Trustee (successor in interest to U.S. Bank Trust National Association,
successor trustee to BankAmerica National Trust Company, herein called
the "Trustee," which term includes any successor trustee under the Indenture),
as supplemented by a First Supplemental Indenture dated as of September
18, 1998 and a Second Supplemental Indenture dated as of May 7, 2001 to
which Indenture and all indentures supplemental thereto reference is hereby
made for a statement of the respective rights thereunder of the Corporation,
the Trustee, and the holders of the Notes, and the terms upon which the
Notes are, and are to be, authenticated and delivered. This Note is also
one of the Notes designated as the Corporation's Senior Medium-Term Notes,
Series K, initially limited in aggregate principal amount to $10,000,000,000.
The Trustee initially shall act as Security Registrar, Transfer Agent,
and Issuing and Paying Agent in connection with the Notes. The Notes may
bear different dates, mature at different times, bear interest at different
rates and vary in such other ways as are provided in the Indenture.

SECTION 2. No Sinking Fund. This Note is not subject to any sinking
fund.

SECTION 3. Redemption. This Note is not redeemable prior to the
Maturity Date(4).

SECTION 5. Defeasance. The provisions of Article Fourteen of
the Indenture do not apply to Securities of this Series.

SECTION 6. Events of Default. If an Event of Default (defined
in the Indenture as (a) the Corporation's failure to pay the principal
of (or premium, if any, on) the Notes; (b) the Corporation's failure to
pay interest on the Notes within 30 calendar days after the same becomes
due; (c) the Corporation's breach of its other covenants contained in this
Note or in the Indenture, which breach is not cured within 90 calendar
days after written notice by the Trustee or the holders of at least 25%
in outstanding principal amount of all Securities issued under the Indenture
and affected thereby; and (d) certain events involving the bankruptcy,
insolvency or liquidation of the Corporation) shall occur with respect
to the Notes, the principal of all the Notes may be declared due and payable
in the manner and with the effect provided in the Indenture.

SECTION 7. Modifications and Waivers. The Indenture permits,
with certain exceptions as therein provided, the amendment of the Indenture
and the modification of the rights and obligations of the Corporation and
the rights of the holders of the Notes under the Indenture at

___________________________

(4)This form does not contemplate redemption of the Note prior to the
Stated Maturity Date.  In the Note may be redeemed prior to the Stated
Maturity Date, the form of Note, as used, may be modified to provide for
the redemption of the Note prior to the Stated Maturity Date.

 

 

                                                                                      
6

 

 

 
any time by the Corporation with the consent of the holders of not less
than 66 2/3% in aggregate principal amount of the Notes then outstanding
and all other Securities then outstanding under the Indenture and affected
by such amendment and modification. The Indenture also contains provisions
permitting the holders of a majority in aggregate principal amount of the
Notes then outstanding and all other Securities then outstanding under
the Indenture and affected thereby, on behalf of the holders of all such
Securities, to waive compliance by the Corporation with certain provisions
of the Indenture and certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the holder of this Note shall
be conclusive and binding upon such holder and upon all future holders
of this Note and of any Note issued upon the registration of transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
consent or waiver is made upon this Note.

No recourse shall be had for the payment of the principal of, premium
on (if any), interest, or other amounts payable on this Note, or for any
claim based hereon, or otherwise in respect hereof, or based on or in respect
of the Indenture or any indenture supplemental thereto, against any incorporator,
stockholder, officer, or director, as such, past, present, or future, of
the Corporation or any predecessor or successor corporation, whether by
virtue of any constitution, statute or rule of law, or by the enforcement
of any assessment or penalty or otherwise, all such liability being, by
the acceptance hereof and as part of the consideration for issue hereof,
expressly waived and released.

SECTION 8. Obligations Unconditional. No reference herein to
the Indenture and no provision of this Note or of the Indenture shall alter
or impair the obligation of the Corporation, which is absolute and unconditional,
to pay the principal of, premium (if any), interest, and other amounts
payable on this Note at the times, place and rate, and in the coin or currency,
herein prescribed.

SECTION 9. Authorized Denominations. The Notes are issuable only
as registered Notes without coupons, and unless otherwise set forth above,
only in denominations of $___________ and any integral multiple thereof.
As provided in the Indenture, and subject to certain limitations therein
set forth, Notes are exchangeable for a like aggregate principal amount
of Notes of different authorized denominations, as requested by the holder
surrendering the same.

SECTION 10. Registration of Transfer. As provided in the Indenture
and subject to certain limitations as therein set forth, the transfer of
this Note is registrable in the register maintained by the Registrar, upon
surrender of this Note for registration of transfer at the office or agency
of the Corporation designated by it pursuant to the Indenture, duly endorsed
by, or accompanied by a written instrument of transfer in form satisfactory
to the Corporation and the Trustee or the Security Registrar requiring
such written instrument of transfer duly executed by, the registered holder
hereof or his attorney duly authorized in writing, and thereupon one or
more new Notes of this series, of authorized denominations and for the
same aggregate principal amount, will be issued to the designated transferee
or transferees.

This Note is being issued by means of a book-entry system with no physical
distribution of certificates to be made except as provided in the Indenture.
The book-entry system maintained by The Depository Trust Company ("DTC")
will evidence ownership of the Notes,

                                                                                        
7

with transfers of ownership effected on the records of DTC and its participants
pursuant to rules and procedures established by DTC and its participants.
The Corporation will recognize Cede & Co., as nominee of DTC, while
the registered holder of the Notes, as the owner of the Notes for all purposes,
including payment of principal (premium, if any) and interest, notices
and voting. Transfer of principal (premium, if any) and interest to participants
of DTC will be the responsibility of DTC, and transfer of principal, premium
(if any), interest, and other amounts payable to beneficial owners of the
Notes by participants of DTC will be the responsibility of such participants
and other nominees of such beneficial owners. So long as the book-entry
system is in effect, the selection of any Notes to be redeemed will be
determined by DTC pursuant to rules and procedures established by DTC and
its participants. The Corporation will not be responsible or liable for
such transfers or payments or for maintaining, supervising or reviewing
the records maintained by DTC, its participants, or persons acting through
such participants.

This Note may be exchanged in whole, but not in part, for security-printed
certificated Notes, only if (i) DTC notifies the Corporation or the Trustee
that it is unwilling or unable to continue to act as depository for this
Note in global form or if at any time DTC ceases to be a clearing agency
registered under the Securities Exchange Act of 1934, as amended, and in
either such case, a successor depository is not appointed by the Corporation
within 60 calendar days, or (ii) the Corporation executes and delivers
to the Trustee a written notification that this Note in global form shall
be so exchangeable, or (iii) an Event of Default occurs and is continuing
with respect to this Note in global form. In any such instance, an owner
of a beneficial interest in this Note will be entitled to physical delivery
in certificated form of Notes equal in principal amount to such beneficial
interest and to have such Notes registered in its name. Unless otherwise
set forth above, Notes so issued in certificated form will be issued in
authorized denominations only and will be issued in registered form only,
without coupons.

No service charge shall be made for any such registration of transfer
or exchange, but the Corporation may require payment of a sum sufficient
to cover any tax, assessment, or other governmental charge, including,
without limitation, any withholding tax, payable in connection therewith.

Prior to due presentment of this Note for registration of transfer,
the Corporation, the Trustee, the Issuing and Paying Agent and any agent
of the Corporation, the Trustee or any Issuing and Paying Agent may treat
the person in whose name this Note is registered as the owner hereof for
all purposes.

SECTION 11. Defined Terms. All terms used in this Note which
are not defined herein but are defined in the Indenture shall have the
meanings assigned to them in the Indenture.

SECTION 12. Governing Law. THIS NOTE SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT
GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF LAWS.

                                                                                        
8

 

 

ABBREVIATIONS

       The following abbreviations, when
used in the inscription on the face of the within Note, shall be construed
as though they were written out in full according to applicable laws or
regulations:

                
TEN COM-- as tenants in common

                
TEN ENT-- as tenants by the entireties

                 
JT TEN-- as joint tenants with right of survivorship and not as tenants
in common

                 
UNIF GIFT MIN ACT--...........................as Custodian for............................

                                                              
(Cust)                                          
(Minor)

                                          
Under Uniform Gifts to Minors Act

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

                                                                  
(State)

            Additional
abbreviations may also be used though not in the above list.

_____________________________

ASSIGNMENT

            FOR
VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto

[PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS

INCLUDING ZIP CODE OF ASSIGNEE]

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

Please Insert Social Security or Other

           Identifying
Number of Assignee: ____________________________

the within Note and all rights thereunder, hereby irrevocably constituting
and appointing __________________________________ Attorney to transfer
said Note on the books of the Corporation, with full power of substitution
in the premises.

Dated:_________________________                       
_________________________________________

NOTICE: The signature to this assignment must correspond with the name
as it appears upon the face of the within Note in every particular, without
alteration or enlargement or any change whatever and must be guaranteed.

                                                                                       
9

 

 

BANK OF AMERICA CORPORATION

Medium-Term Senior Note, Series K

PRINCIPAL REPAYMENT AMOUNT

[formula]

[supplemental amount]

[indexed item]

[valuation date]

[event of default]

[market disruption]

[conversion features and mechanics]

[ability to settle in stock or other non-cash property]

[other]

   10

 

 

BANK OF AMERICA CORPORATION

Medium-Term Senior Note, Series K
INTEREST PAYMENT AMOUNTS OR

SUPPLEMENTAL PAYMENT AMOUNT RIDER

[formula]

[Interest Payment Amount(s) or Supplemental Payment Amount determination
date(s)]

[dates for payment of Interest Payment Amount(s) or Supplemental Payment
Amount]

[indexed item]

[formula/methodology for determining indexed item on determination
date(s)]

[delivery of securities or other non-cash property]

[other terms]

 

 
                                                                               
11THIS NOTE IS A GLOBAL SECURITY WITHIN
THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED
IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY. THIS NOTE IS
NOT EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN
THE DEPOSITORY OR ITS NOMINEE, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF
THIS NOTE AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR
BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF
THE DEPOSITORY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE.
Unless this Note is presented by an authorized representative
of The Depository Trust Company, a New York corporation (55 Water Street,
New York, New York) ("DTC"), to the Corporation or its agent for registration
of transfer, exchange or payment, and this Note is registered in the name
of Cede & Co. or such other name as requested by an authorized representative
of DTC, and unless any payment is made to Cede & Co.., ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL since the registered owner hereof, Cede & Co., has an interest
herein.

THIS NOTE IS NOT A SAVINGS ACCOUNT OR A DEPOSIT, AND IS
NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL
AGENCY. THIS NOTE IS SUBORDINATED TO CLAIMS OF DEPOSITORS, IS UNSECURED,
AND IS NOT ELIGIBLE AS COLLATERAL FOR A LOAN BY BANK OF AMERICA CORPORATION
OR BANK OF AMERICA, N.A.

THIS NOTE IS NOT AN OBLIGATION OF OR GUARANTEED BY BANK
OF AMERICA, N.A. OR ANY OTHER BANKING OR NONBANKING AFFILIATE OF BANK OF
AMERICA CORPORATION.

REGISTERED                                                                                                  
$_________________

NUMBER ____________                                                                                 
CUSIP ___________

BANK OF AMERICA CORPORATION

MEDIUM-TERM SUBORDINATED NOTE, SERIES K

(Fixed Rate)

ORIGINAL ISSUE DATE(1):

INTEREST RATE:

STATED MATURITY DATE:

FINAL MATURITY DATE:

INITIAL REDEMPTION DATE:

INITIAL REDEMPTION PERCENTAGE:

ANNUAL REDEMPTION:

PERCENTAGE REDUCTION:

OPTIONAL REPAYMENT DATE(S):

ADDITIONAL TERMS:

/  /      This Note is a
Renewable Note.

          
See Attached Rider.

/  /      This Note is
an Extendible Note.

          
See Attached Rider.

         BANK OF AMERICA CORPORATION,
a Delaware corporation (herein called the "Corporation," which term includes
any successor corporation under the Indenture referred to on the reverse
hereof), for value received, hereby promises to pay to CEDE & CO.,
as nominee for The Depository Trust Company, or its registered assigns,
the principal sum of

____________________

(1)The form provides that interest will accrue from the Original Issue
Date.  In the event a series of Notes is reopened, interest will accrue
from the Original Issue Date for all tranches of Notes of that series. 
However, in the event a series of Notes is reopened, the authentication
date for each tranche of Notes will be the date that tranache of notes
is settled, which may be different from the Original Issue Date.

 

 

 

_________________________________________ DOLLARS(2) on the Stated Maturity
Date(3) specified above (except to the extent redeemed or repaid prior
to the Stated Maturity Date). The Corporation also promises to pay interest
on such principal amount at the Interest Rate specified above, until payment
of such principal sum has been made or duly provided for, semi-annually(4)
in arrears on _____________ and ____________ of each year (each an "Interest
Payment Date"). Interest shall be payable commencing on the first Interest
Payment Date succeeding the Original Issue Date specified above, unless
the Original Issue Date occurs between a Regular Record Date (as defined
below) and the next Interest Payment Date, in which case interest shall
be payable commencing on the Interest Payment Date following the next Regular
Record Date, and shall be payable on each Interest Payment Date, and at
Maturity (the "Maturity Date").

The term "Maturity," when used herein, means the date on which the principal
of this Note or an installment of principal becomes due and payable in
full in accordance with the terms of this Note and of the Indenture, whether
at the Stated Maturity Date or by declaration of acceleration, call for
redemption, prepayment at the holder's option or otherwise.

Interest on this Note will accrue from the Original Issue Date until
the principal amount is paid or duly provided for. Interest (including
payments for partial periods) will be computed on the basis of a 360-day
year of twelve 30-day months. Each interest payment will include interest
accrued from, and including, the Original Issue Date or the most recent
Interest Payment Date to which interest has been paid or duly provided
for, as the case may be, to, but excluding, the next succeeding Interest
Payment Date or the Maturity Date, as the case may be. If the Maturity
Date or an Interest Payment Date falls on a day that is not a Business
Day, principal or interest payable with respect to such Maturity Date or
Interest Payment Date will be paid on the succeeding Business Day with
the same force and effect as if made on such Maturity Date or Interest
Payment Date, as the case may be, and no additional interest shall accrue
for the period from and after such Maturity Date or Interest Payment Date,
as the case may be.

The interest so payable, and punctually paid or duly provided for, on
any Interest Payment Date will be paid to the person in whose name this
Note (or one or more predecessor Notes evidencing all or a portion of the
same debt as this Note) is registered at the close of business on the Regular
Record Date, which shall be the __________ or the __________, whether or
not a Business Day, as the case may be, immediately preceding such Interest
Payment Date; provided, however, that the first payment of
interest on any Note with an Original Issue Date between a Regular Record
Date and an Interest Payment Date or on an Interest Payment Date will be
made on the Interest Payment Date following the next Regular Record Date
to the

_____________________

(2)This form provides for Notes denominated in, and principal and interest
payable in, U.S. dollars.  The form, as used, may be modified to provide,
alternatively, for Notes denominated in, and principal and interest and
other amount, if any, payable in a foreign currency or currency unit, with
the specific terms and provisions, including any limitations on the issuances
of Notes in such currency, additional provisions regarding paying and other
agents and additional provisions regarding the calculation and payment
of such currency, set forth therein.

(3)This form provides for Notes that will mature only on a specified
date.  If the Maturity of Notes of a series may be renewed at the
option of the holder, or extended at the option of the Corporation, the
form, as used, will be modified to provide for additional terms relating
to such renewal or extension, as the case may be, including the period
or periods for which the Maturity may be renewed or extended, as the case
may abe, changes in the interest rate, if any, and requirements for notice.

(4)This form provides for semi-annual interest payments.  If the
pricing supplement provides otherwise, this form, as used, may be modified
to provide, alternatively, for annual, quarterly, or other periodic interest
payments.

                                                                                          
2

person in whose name this Note is registered at the close of business
on such next Regular Record Date; and provided, further,
that interest payable on the Maturity Date will be payable to the person
to whom the principal hereof shall be payable. The principal so payable,
and punctually paid or duly provided for, at Maturity will be paid to the
person in whose name this Note (or one or more predecessor Notes evidencing
all or a portion of the same debt as this Note) is registered at the close
of business at Maturity. Any such interest or principal not punctually
paid or duly provided for shall be payable as provided in the Indenture(5).
"Business Day" means any weekday that is not a legal holiday in New York,
New York, Charlotte, North Carolina, or any other place of payment with
respect to this Note and that is not a day on which banking institutions
in those cities are authorized or required by law or regulation to be closed.
"Business Day" also means, with respect to Notes denominated in euro, a
day on which the TransEuropean Real-Time Gross-Settlement Express Transfer,
or "TARGET," System is in place. "Business Day" also means, with respect
to Notes denominated in a specified currency other than U.S. dollars or
euro, a day on which banking institutions generally are authorized or obligated
by law, regulation, or executive order to close in the Principal Financial
Center of the country of the specified currency.

        "Principal Financial Center"
means:

         (1) the capital city
of the country issuing the specified currency, except that with respect
to U.S. dollars, Australian dollars, Canadian dollars, South African rand,
and Swiss francs, the "Principal Financial Center" is New York, Sydney
and Melbourne, Toronto, Johannesburg, and Zurich, respectively, or

         (2) the capital city
of the country to which the index currency relates, except that with respect
to U.S. dollars, Australian dollars, Canadian dollars, South African rand,
and Swiss francs, the "Principal Financial Center" is New York, Sydney,
Toronto, Johannesburg, and Zurich, respectively.

         The principal of and
interest on this Note are payable in immediately available funds in such
coin or currency of the United States of America as at the time of payment
is legal tender for payment of public and private debts at the office or
agency of the Corporation designated as provided in the Indenture; provided,
however, that interest may be paid, at the option of the Corporation,
by check mailed to the person entitled thereto at his address last appearing
on the registry books of the Corporation relating to the Notes. Notwithstanding
the preceding sentence, payments of principal of and interest payable on
the Maturity Date will be made by wire transfer of immediately available
funds to a designated account maintained in the United States upon (i)
receipt of written notice by the Issuing and Paying Agent (as described
on the reverse hereof) from the registered holder hereof not less than
one Business Day prior to the due date of such principal and (ii) presentation
of this Note to the Issuing and Paying Agent at The Bank of New York, 101
Barclay Street, New York, New York 10286 (the "Corporate Trust Office").

_______________________

(5)This form does not contemplate the offer of Notes to United States
Aliens (for United States federal income tax purposes).  If Notes
are offered to United States Aliens, the forms of Notes, as used, may be
modified to provide for the payment of additional amounts to such United
States Aliens or, if applicable, the redemption of such Notes in lieu of
payment of such additional amounts.

 

 

                                                                                  
3

         For both this Note
and Notes issued in certificated form, the payment of principal of, premium
(if any), accrued interest, and any other amounts due on or after the Maturity
Date will be made only upon the presentation and surrender of such Note
at the office of the Trustee or successor thereof, and with respect to
this Note, in accordance with the procedures of DTC.

         References herein to
"U.S. dollars," "U.S.$," or "$" are to the coin or currency of the United
States at the time of payment is legal tender for the payment of public
and private debts.

         Reference is hereby
made to the further provisions of this Note set forth on the reverse hereof,
which shall have the same effect as though fully set forth at this place.

        Unless the certificate of
authentication hereon has been executed by the Trustee or by an authenticating
agent on behalf of the Trustee by manual signature, this Note shall not
be entitled to any benefit under the Indenture or be valid or obligatory
for any purpose.

                                                                                         
4

 
        IN WITNESS WHEREOF, the Corporation
has caused this Note to be duly executed, by manual or facsimile signature,
under its corporate seal or a facsimile thereof.

                                                                          
BANK OF AMERICA CORPORATION

                                                                          
By: ________________________________

[SEAL]                                                              
Title: Senior Vice President

ATTEST:

By:________________________

           Assistant
Secretary

                                                                                               
5

 

 

Certificate of Authentication

          This is one of
the Securities of the series designated therein referred to in the within-mentioned
Indenture.

Dated:_____________

                                                                 
THE BANK OF NEW YORK,

                                                                 
as Trustee

                                                                 
By: __________________________________

                                                                                    
Authorized Signatory

 

 

                                                                                       
6

[Reverse of Note]

BANK OF AMERICA CORPORATION

MEDIUM-TERM SUBORDINATED NOTE, SERIES K

(Fixed Rate)

SECTION 1. General. This Note is one of a duly authorized series
of Securities of the Corporation unlimited in aggregate principal amount
(herein called the "Notes") issued and to be issued under an Indenture
dated as of January 1, 1995 (herein called the "Indenture"), between the
Corporation (successor to NationsBank Corporation) and The Bank of New
York, as Trustee (herein called the "Trustee," which term includes any
successor trustee under the Indenture), as supplemented by a First Supplemental
Indenture dated as of August 28, 1998, to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective
rights thereunder of the Corporation, the Trustee and the holders of the
Notes, and the terms upon which the Notes are, and are to be, authenticated
and delivered. This Note is also one of the Notes designated as the Corporation's
Subordinated Medium-Term Notes, Series K, initially limited in aggregate
principal amount to $10,000,000,000. The Trustee initially shall act as
Security Registrar, Transfer Agent, and Issuing and Paying Agent in connection
with the Notes. The Notes may bear different dates, mature at different
times, bear interest at different rates and vary in such other ways as
are provided in the Indenture.

SECTION 2. Subordination. THE INDEBTEDNESS OF THE CORPORATION
EVIDENCED BY THE NOTES, INCLUDING THE PRINCIPAL THEREOF AND INTEREST THEREON,
IS, TO THE EXTENT AND IN THE MANNER SET FORTH IN THE INDENTURE, SUBORDINATE
AND JUNIOR IN RIGHT OF PAYMENT TO ITS OBLIGATIONS TO HOLDERS OF SENIOR
INDEBTEDNESS, AS DEFINED IN THE INDENTURE, AND EACH HOLDER OF THE NOTES,
BY THE ACCEPTANCE HEREOF, AGREES TO AND SHALL BE BOUND BY SUCH PROVISIONS
OF THE INDENTURE.

SECTION 3. No Sinking Fund. This Note is not subject to any sinking
fund.

SECTION 4. Optional Repayment. If so specified above, this Note
will be repayable prior to the Stated Maturity Date at the option of the
registered holder on the Optional Repayment Date(s), if any, specified
above. IF NO OPTIONAL REPAYMENT DATES ARE SET FORTH ABOVE, THIS NOTE
MAY NOT BE REPAID AT THE OPTION OF THE HOLDER PRIOR TO THE STATED MATURITY
DATE. On any Optional Repayment Date, this Note shall be repayable
in whole or in part at the option of the holder hereof at a repayment price
equal to 100% of the principal amount to be repaid, together with interest
thereon payable to the date of repayment. For this Note to be repaid in
whole or in part at the option of the holder hereof, this Note must be
received, with the form below entitled "Option to Elect Repayment" duly
completed, by the Trustee at The Bank of New York, 101 Barclay Street,
New York, New York 10186, or such other address of which the Corporation
from time to time shall notify the holders of the Notes, not more than
60 nor less than 30 calendar days prior to an Optional Repayment Date.
Exercise of such repayment option by the holder hereof shall be irrevocable.

                                                                                         
7

 

 
SECTION 5. Optional Redemption. If so specified above, this Note
may be redeemed at the option of the Corporation on any date on and after
the Initial Redemption Date, if any, specified above (the "Redemption Date").
IF NO INITIAL REDEMPTION DATE IS SET FORTH ABOVE, THIS NOTE MAY NOT
BE REDEEMED AT THE OPTION OF THE CORPORATION PRIOR TO THE STATED MATURITY
DATE. On and after the Initial Redemption Date, if any, this Note may
be redeemed at any time in whole or from time to time in part at the option
of the Corporation at the applicable Redemption Price (as defined below)
together with interest thereon payable to the Redemption Date, on notice
given not more than 60 nor less than 30 calendar days prior to the Redemption
Date. In the event of redemption of this Note in part only, a new Note
for the unredeemed portion hereof shall be issued in the name of the registered
holder hereof upon the surrender of this Note. Unless otherwise specified
above, if less than all of the Notes with like tenor and terms are to be
redeemed, the Notes to be redeemed shall be selected by the Trustee by
such method as the Trustee shall deem fair and appropriate. If this Note
is redeemable at the option of the Corporation, the "Redemption Price"
initially shall be the Initial Redemption Percentage specified above of
the principal amount of this Note to be redeemed and shall decline at each
anniversary of the Initial Redemption Date by the Annual Redemption Percentage
Reduction, if any, specified above of the principal amount to be redeemed
until the Redemption Price is 100% of such principal amount.

SECTION 6. Defeasance. The provisions of Article Fourteen of
the Indenture do [not] apply to Securities of this Series.

SECTION 7. Events of Default. If an Event of Default (defined
in the Indenture as certain events involving the bankruptcy of the Corporation)
shall occur with respect to the Notes, the principal of, interest accrued
on, and other amounts then payable on, the Notes may be declared due and
payable in the manner and with the effect provided in the Indenture. THERE
IS NO RIGHT OF ACCELERATION PROVIDED IN THE INDENTURE IN CASE OF A DEFAULT
IN THE PAYMENT OF INTEREST OR THE PERFORMANCE OF ANY OTHER COVENANT BY
THE CORPORATION.

SECTION 8. Modifications and Waivers. The Indenture permits,
with certain exceptions as therein provided, the amendment of the Indenture
and the modification of the rights and obligations of the Corporation and
the rights of the holders of the Notes under the Indenture at any time
by the Corporation with the consent of the holders of not less than 66
2/3% in aggregate principal amount of the Notes then outstanding and all
other Securities then outstanding under the Indenture and affected by such
amendment and modification. The Indenture also contains provisions permitting
the holders of a majority in aggregate principal amount of the Notes then
outstanding and all other Securities then outstanding under the Indenture
and affected thereby, on behalf of the holders of all such Securities,
to waive compliance by the Corporation with certain provisions of the Indenture
and certain past defaults under the Indenture and their consequences. Any
such consent or waiver by the holder of this Note shall be conclusive and
binding upon such holder and upon all future holders of this Note and of
any Note issued upon the registration of transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent or waiver
is made upon this Note.

No recourse shall be had for the payment of the principal of, premium
on (if any), interest, or other amounts payable on this Note, or for any
claim based hereon, or otherwise in

                                                                                        
8

respect hereof, or based on or in respect of the Indenture or any indenture
supplemental thereto, against any incorporator, stockholder, officer, or
director, as such, past, present, or future, of the Corporation or any
predecessor or successor corporation, whether by virtue of any constitution,
statute or rule of law, or by the enforcement of any assessment or penalty
or otherwise, all such liability being, by the acceptance hereof and as
part of the consideration for issue hereof, expressly waived and released.

SECTION 9. Obligations Unconditional. No reference herein to
the Indenture and no provision of this Note or of the Indenture shall alter
or impair the obligation of the Corporation, which is absolute and unconditional,
to pay the principal of, premium (if any), interest, and other amounts
payable on this Note at the times, place and rate, and in the coin or currency,
herein prescribed.

SECTION 10. Authorized Denominations. The Notes are issuable
only as registered Notes without coupons, and unless otherwise set forth
above, only in denominations of $_________ and any integral multiple thereof.
As provided in the Indenture, and subject to certain limitations therein
set forth, Notes are exchangeable for a like aggregate principal amount
of Notes of different authorized denominations, as requested by the holder
surrendering the same.

SECTION 11. Registration of Transfer. As provided in the Indenture
and subject to certain limitations as therein set forth, the transfer of
this Note is registrable in the register maintained by the Registrar, upon
surrender of this Note for registration of transfer at the office or agency
of the Corporation designated by it pursuant to the Indenture, duly endorsed
by, or accompanied by a written instrument of transfer in form satisfactory
to the Corporation and the Trustee or the Security Registrar requiring
such written instrument of transfer duly executed by, the registered holder
hereof or his attorney duly authorized in writing, and thereupon one or
more new Notes of this series, of authorized denominations and for the
same aggregate principal amount, will be issued to the designated transferee
or transferees.

This Note is being issued by means of a book-entry system with no physical
distribution of certificates to be made except as provided in the Indenture.
The book-entry system maintained by The Depository Trust Company ("DTC")
will evidence ownership of the Notes, with transfers of ownership effected
on the records of DTC and its participants pursuant to rules and procedures
established by DTC and its participants. The Corporation will recognize
Cede & Co., as nominee of DTC, while the registered holder of the Notes,
as the owner of the Notes for all purposes, including payment of principal
(premium, if any) and interest, notices and voting. Transfer of principal
(premium, if any) and interest to participants of DTC will be the responsibility
of DTC, and transfer of principal, premium (if any), interest, and other
amounts payable to beneficial owners of the Notes by participants of DTC
will be the responsibility of such participants and other nominees of such
beneficial owners. So long as the book-entry system is in effect, the selection
of any Notes to be redeemed will be determined by DTC pursuant to rules
and procedures established by DTC and its participants. The Corporation
will not be responsible or liable for such transfers or payments or for
maintaining, supervising or reviewing the records maintained by DTC, its
participants, or persons acting through such participants.

                                                                                       
9

 

 
This Note may be exchanged in whole, but not in part, for security-printed
certificated Notes, only if (i) DTC notifies the Corporation or the Trustee
that it is unwilling or unable to continue to act as depository for this
Note in global form or if at any time DTC ceases to be a clearing agency
registered under the Securities Exchange Act of 1934, as amended, and in
either such case, a successor depository is not appointed by the Corporation
within 60 calendar days, or (ii) the Corporation executes and delivers
to the Trustee a written notification that this Note in global form shall
be so exchangeable, or (iii) an Event of Default occurs and is continuing
with respect to this Note in global form. In any such instance, an owner
of a beneficial interest in this Note will be entitled to physical delivery
in certificated form of Notes equal in principal amount to such beneficial
interest and to have such Notes registered in its name. Unless otherwise
set forth above, Notes so issued in certificated form will be issued in
authorized denominations only and will be issued in registered form only,
without coupons.

No service charge shall be made for any such registration of transfer
or exchange, but the Corporation may require payment of a sum sufficient
to cover any tax, assessment, or other governmental charge, including,
without limitation, any withholding tax, payable in connection therewith.

Prior to due presentment of this Note for registration of transfer,
the Corporation, the Trustee, the Issuing and Paying Agent and any agent
of the Corporation, the Trustee or any Issuing and Paying Agent may treat
the person in whose name this Note is registered as the owner hereof for
all purposes.

SECTION 12. Defined Terms. All terms used in this Note which
are not defined herein but are defined in the Indenture shall have the
meanings assigned to them in the Indenture.

SECTION 13. Governing Law. THIS NOTE SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT
GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF LAWS.

                                                                                             
10

 

 

ABBREVIATIONS

       The following abbreviations, when
used in the inscription on the face of the within Note, shall be construed
as though they were written out in full according to applicable laws or
regulations:

                   
TEN COM-- as tenants in common

                   
TEN ENT-- as tenants by the entireties

                   
JT TEN-- as joint tenants with right of survivorship and not as tenants
in common

                   
UNIF GIFT MIN ACT--......................as Custodian for.........................

                                                               
(Cust)                                    
(Minor)

Under Uniform Gifts to Minors Act

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

(State)

                             
Additional abbreviations may also be used though not in the above list.

_____________________________

ASSIGNMENT

                              
FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto

[PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS

INCLUDING ZIP CODE OF ASSIGNEE]

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

Please Insert Social Security or Other Identifying Number of Assignee:
____________________

the within Note and all rights thereunder, hereby irrevocably constituting
and appointing __________________________________ Attorney to transfer
said Note on the books of the Corporation, with full power of substitution
in the premises.

Dated:_________________________                    
_________________________________________

NOTICE: The signature to this assignment must correspond with the name
as it appears upon the face of the within Note in every particular, without
alteration or enlargement or any change whatever and must be guaranteed.

                                                                                         
11

 

 

[OPTION TO ELECT REPAYMENT]

          The undersigned
hereby irrevocably request(s) and instruct(s) the Corporation to repay
this Note (or portion hereof specified below) pursuant to its terms at
a price equal to the principal amount hereof together with interest to
the repayment date, to the undersigned, at _____________________________________________________________________________

_____________________________________________________________________________.

(Please print or typewrite name and address of the undersigned)

         For this Note to be
repaid, the Trustee must receive at 101 Barclay Street, New York, New York
10186, or at such other place or places of which the Corporation from time
to time shall notify the registered holder of this Note, not more than
60 nor less than 30 calendar days prior to an Optional Repayment Date,
if any, shown on the face hereof, this Note with this "Option to Elect
Repayment" form duly completed.

         If less than the entire
principal amount of this Note is to be repaid, (a) specify the portion
hereof which the registered holder elects to have repaid and (b) specify
the portion hereof which is not being repaid (in the absence of any such
specification to the contrary, one such Note will be issued for the portion
not being repaid).

Date:____________________                            
_________________________________________

                                                                            
NOTICE: The signature on this Option to Elect

                                                                            
Repayment must correspond with the name as

                                                                            
written upon the face of this Note in every

                                                                            
particular, without alteration or enlargement or any

                                                                            
change whatever.

Principal amount to be repaid, if amount to                          
/  /    Option To Use DTC Tender

be repaid is less than the principal amount of                                 
Procedures

this Note:                                                                           
DTC Participant

$_________________________________                      
Number: ____________________________

                                                                                          
DTC Participant

Amount to be Reissued:                                                      
Name: ______________________________

                                                                                          
DTC Participant Telephone

$__________________________________                     
Number: ____________________________

 
                                                                       
12

 

Fill in registration of Notes if to be issued

otherwise than to the registered holder:                               
SOCIAL SECURITY OR OTHER

                                                                                          
TAXPAYER ID NUMBER

Name: ______________________________
Address: ____________________________

          _______________________________

(Please print name and address including zip code)

 

 

                                                                                          
13

 

 

[EXTENDIBLE NOTE RIDER]

The Corporation and the purchaser of this Note have agreed that this
Note is an Extendible Note, whereby the Corporation has the option to extend
the maturity of this Note for one or more whole year periods, as set forth
below (each, an "Extension Period"), up to but not beyond the Final Maturity
Date set forth below, under the terms of this Note as supplemented by this
Extendible Note Rider.

                 
Stated Maturity Date: _____________________________

                 
Final Maturity Date:  ______________________________

 
	
Extension Notice

Due Date
	
Extended

Maturity Date

		
		
		
		

        The Corporation may exercise
its option with respect hereto by delivery to the Trustee a notice of such
exercise at least 45, but not more than 60, calendar days prior to the
Stated Maturity Date originally in effect with respect hereto or, if the
Stated Maturity Date has already been extended, prior to the maturity date
then in effect (each, an "Extended Maturity Date"). After such receipt
and not later than 40 calendar days prior to the Stated Maturity Date or
an Extended Maturity Date, as the case may be (each, an "Existing Maturity
Date"), the Issuing and Paying Agent (or any duly appointed paying agent)
will mail by first class mail, postage prepaid, to the registered holder
hereof a notice (the "Extension Notice") relating to such extension period
(the "Extension Period") setting forth (i) the election of the Corporation
to extend the Maturity hereof, (ii) the new Extended Maturity Date, (iii)
the interest rate applicable to the Extension Period (which interest rate
may be higher during the Extension Period), and (iv) the provisions, if
any, for redemption during the Extension Period, including the date or
dates on which, the period or periods during which and the price or prices
at which such redemption may occur during the Extension Period. Upon the
mailing by the Trustee (or any duly appointed paying agent) of an Extension
Notice to the registered holder hereof, the maturity shall be extended
automatically as set forth in the Extension Notice, and, except as modified
by the Extension Notice and as described in the next paragraph, this Note
will have the same terms as prior to the mailing of such Extension Notice.

         Notwithstanding the
foregoing, not later than 20 calendar days prior to the Existing Maturity
Date hereof (or, if such date is not a Business Day, on the immediately
succeeding Business Day), the Corporation, at its option, may revoke the
interest rate provided for in the Extension Notice and establish a higher
interest rate for the Extension Period by mailing or causing the Trustee
to mail notice of such higher interest rate, by first class mail, postage
prepaid, to the registered holder hereof. Such notice shall be irrevocable.
Thereafter, this Note will bear such higher interest rate for the Extension
Period.

 

                                                                                        
14

 
        If the Corporation elects
to extend the maturity hereof, the registered holder hereof will have the
option to elect repayment hereof in whole or in part by the Corporation
on the Existing Maturity Date then in effect at a price equal to the principal
amount hereof plus any accrued and unpaid interest to such date. In order
for this Note to be so repaid on the Existing Maturity Date, the Corporation
must receive, at least 15 days but not more than 30 calendar days prior
to the Existing Maturity Date then in effect with respect hereto: (i) this
Note with the form "Option to Elect Repayment" below duly completed, or
(ii) a telegram, telex, facsimile transmission, or a letter from a member
of a national securities exchange, or the National Association of Securities
Dealers, Inc., or a commercial bank or trust company in the United States,
setting forth the name of the registered holder hereof, the principal amount
hereof to be repaid, the certificate number, or a description of the tenor
and terms hereof, a statement that the option to elect repayment is being
exercised thereby, and a guarantee that this Note, together with the duly
completed form entitled "Option to Elect Repayment" attached hereto, will
be received by the Trustee not later than the fifth Business Day after
the date of such telegram, telex, facsimile transmission, or letter; provided,
however, that such telegram, telex, facsimile transmission, or letter
shall only be effective if this Note and duly completed form are received
by the Trustee by such fifth Business Day. Such option may be exercised
by the registered holder hereof for less than the aggregate principal amount
hereof then outstanding.

 

                                                                                        
15

 

 

[RENEWABLE NOTE RIDER]

The Corporation and the purchaser of this Note have agreed that this
Note is a Renewable Note which initially matures on the Stated Maturity
Date shown on the face hereof. At each Renewal Date, as specified below,
the Maturity of this Note automatically will be extended to the corresponding
New Maturity Date, as specified below, until the Final Maturity Date specified
below, unless the registered holder of this Note elects to terminate the
automatic extension of the Maturity of this Note or any portion hereof
and delivers a completed "Extension Termination Notice" to the Trustee
(or any duly appointed paying agent) not less than 15 nor more than 30
calendar days prior to the applicable Renewal Date. The "Extension Termination
Notice" may specify that the automatic extension of Maturity of this Note
is terminated with respect to all or a portion of the outstanding principal
amount of the Note. Upon timely delivery of such Extension Termination
Notice, the term of the principal amount of this Note subject to such notice
will be deemed automatically to mature on the Stated Maturity Date or the
then applicable New Maturity Date, as the case may be. The remaining principal
balance of such Note, if any, will be deemed to automatically be extended
to the corresponding New Maturity Date but in no circumstances may such
Maturity be extended beyond the Final Maturity Date set forth below. An
election to terminate the automatic extension of the Maturity hereof shall
be irrevocable and binding on each holder hereof. Notwithstanding any such
extension, the interest rate applicable to this Note will continue to be
calculated as set forth in this Note.

STATED MATURITY DATE:_________________________________

FINAL MATURITY DATE:__________________________________

          Renewal Date(s)                                                                  
New Maturity Date(s)

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