FORM OF PROMISSORY NOTE
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____________________                                             ____ ____, 1999
PRINCIPAL

     FOR VALUE RECEIVED, the undersigned, the INDIAN VILLAGE COMMUNITY BANK 
EMPLOYED STOCK OWNERSHIP PLAN TRUST ("Borrower"), hereby promises to pay to the 
order of INDIAN VILLAGE BANCORP, INC. ("Lender") ______________________________
($___________) payable in accordance with the Loan Agreement made and entered 
into between the Borrower and the Lender of even date herewith ("Loan 
Agreement") pursuant to which this Promissory Note is issued.

     The Principal Amount of this Promissory Note shall be payable in accordance
with the schedule attached hereto ("Schedule I").

     This Promissory Note shall bear interest at the rate per annum set for or
established under the Loan Agreement, such interest to be payable in accordance 
with Schedule I.

     Anything herein to the contrary notwithstanding, the obligation of the 
Borrower to make payments of interest shall be subject to the limitation that 
payments of interest shall not be required to be made to the Lender to the 
extent that the Lender's receipt thereof would not be permissible under the law 
or laws applicable to the Lender limiting rates on interest which may be charged
or collected by the Lender. Any such payments on interest which are not made as 
a result of the limitation referred to in the preceding sentence shall be made 
by the Borrower to the Lender on the earliest interest payment date or dates on 
which the receipt thereof would be permissible under the laws applicable to the 
Lender limiting rates of interest which may be charges or collected by the 
Lender. Such deferred interest shall not bear interest.

     Payments of both principal and interest on this Promissory Note are to be 
made at the principal office of the Lender or such other place as the holder 
hereof shall designate to the Borrower in writing, in lawful money of the United
States of America in immediately available funds. 

     Failure to make any payments of principal on this Promissory Note when due,
or failure to make any payment of interest on this Promissory Note not later 
than five (5) Business Days after the date when due, shall constitute a default 
hereunder, whereupon the principal amount of accrued interest on this Promissory
Note shall immediately become due and payable in accordance with the terms of 
the Loan Agreement.


 
     This Promissory Note is secured by a Pledge Agreement between the Borrower 
and the Lender of even date herewith and is entitled to the benefits thereof.

                                    INDIAN VILLAGE COMMUNITY BANK
                                    EMPLOYEE STOCK OWNERSHIP PLAN TRUST


                                    ___________________________, Trustee


                                    ___________________________, Trustee


                                    ___________________________, Trustee

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