GUARANTY AGREEMENT

This guaranty agreement (hereafter referred to as Guaranty), executed at 1 Sta

Maria St., Marikina, Philippines on 4 June 2016 by DD de Leon, Filipino, of legal
age, single, with residence and postal address at 1 Sta Maria St., Marikina,
Philippines, hereinafter referred to as Guarantor, in favor of BB Jose, with
principal office at 12 Mary St., Marikina, Philippines, hereinafter referred to as
Head Office;
WHEREAS the AA Santos (Beneficiary) and BB Jose (Creditor), are parties to
the attached Loan Agreement on 3 June 2016, to which this guaranty Agreement
is attached as Annex A;
WHEREAS the Guarantor shall benefit directly or indirectly from the Loan;
WHEREAS the Beneficiary has required that the Guarantor unconditionally
guarantee to the Beneficiary all the Beneficiarys obligations under the Loan;
THEREFORE, in view of the foregoing, the Guarantor and the Beneficiary agree
as follows:
1.
Guaranty. The Guarantor absolutely, irrevocably and unconditionally
guarantees to the Beneficiary all the obligations of the Customer under the
Contract including the prompt payment when due of all the amounts owed by the
Customer to the Beneficiary arising from the obligations pursuant to the Contract,
even if such obligations and such amounts are not yet liquidated or payable
(hereafter referred to as the Obligations), on the understanding that the
Guarantors liability under this Guaranty shall be limited to an amount of Php
400,000 plus all reasonable costs incurred by the Beneficiary in asserting its
rights against the Guarantor under this Guaranty, including any legal fees, judicial
costs and similar costs.
The Guarantor shall pay any amounts guaranteed by this Guaranty as soon as
the Beneficiary makes a request for payment to the Guarantor. The fact that the
Beneficiary makes a request for payment shall not in any way restrict its right to
subsequently make any other request for payment.
2. Solidary liability. The Guarantor shall assume solidary liability with the
Beneficiary with respect to the Obligations and shall waive the benefit of
discussion and division, as well as any notice of exercise by the Beneficiary of
any right or security.
3. Scope of Guaranty. This Guaranty shall be valid even if the Benificiary did not
have legal personality or capacity at the time the Contract was signed.
4. Consents, waivers and renewals. The Beneficiary may at any time, without
the Guarantors consent and without notice to the Guarantor, extend the deadline
for the payment of the Obligations, refrain from realizing or waive any security
provided in regard to the Obligations, or amend or renew the Contract.

5. Change of circumstances. This Guaranty shall subsist notwithstanding any

change in the circumstances that gave rise to the granting of this Guaranty by the
Guarantor, notwithstanding the cessation of the Guarantors commercial
operations or any change in the said operations or in the relationship between
the Loan parties.

IN WITNESS WHEREOF, the Guarantor has signed this Guaranty on the date
mentioned above.

DD de Leon
Guarantor

Signed in the presence of:

EE Estrada

FF Flores

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES )
) S.S.

BEFORE ME, a Notary Public, for and in the above jurisdiction personally
appeared the following persons, with their Community Tax Certificates, to wit:
NAME
ISSUE
1. AA Santos
2. BB Jose
3. DD de Leon
4. EE Estrada
5. FF Flores

CTC/PASSPORT #
AA-12345
AA-14122
AA-09213
DD-23123
AA-12312

DATE/PLACE OF
12/1/10 Pasay
03/10/10 Pasay
7/09/10 Pasay
08/9/13 Pasay
1/12/11 Pasay

Known to me and to me known to be the same persons who executed the

foregoing instrument and they acknowledged to me that the same is their free
and voluntary act.
This instrument consist of three (3) pages including this page where the
acknowledgment is written, signed on the appropriate spaces provided above
and on the left hand margins of all other pages, and is a Guaranty Agreement.
WITNESS MY HAND AND SEAL this 4th day of June 2016.

Doc. No. ________

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