Cnl Income Fund II Ltd Watch

from 10-K405 1 page Promissory Note $26,300.00 Orlando, Florida January 16, 1996 for Value Received, the Undersigned ("Maker") Cnl Income Fund II, Ltd., a Florida Limited Partnership, Hereby Promises and Agrees to Pay on Demand to the Order of Cnl Realty Corporation ("Payee") at 400 E. South Street, Suite 500, Orlando, Florida 32801, or at Such Other Location Designed in Writing by Payee, the Principal Sum of Twenty-Six Thousand Three Hundred and No/100 Dollars ($26,300.00) Together With Interest Thereon From the Date Hereof at the Rate of Prime Plus One Quarter (P + 1/4%) Percent Per Annum in Legal Tender of the United States of America, as Follows: This Note May Be Prepaid, in Whole or in Part, at Any Time Without Premium or Penalty. All Prepayments Shall Be Applied First to Unpaid Interest and Then to the Unpaid Principal Balance. This Note Shall Be Governed by and Construed in Accordance With the Laws of the State of Florida. in Witness Whereof, the Undersigned Has Executed This Note This Sixteenth Day of January, 1996. By: Cnl Income Fund II, Ltd., a Florida Limited Partnership By: /S/Robert A. Bourne Robert A. Bourne General Partner