LOAN AGREEMENT

MADE :

This ____________________ in Pasig City.

PARTIES :

CREDITOR: ANICETO M. SOBREPENA, of legal age, Filipino,

and with address at 28 Roseville St., White Plains,
Quezon City, Metro Manila, Philippines.

BORROWER: NUEVA ICE COMPANY, a corporation duly

organized and existing under the laws of the
Republic of the Philippines with business address at
… represented by its President, GABRIEL PAOLO
C. SOBREPENA.

RECITALS:

A. CREDITOR has agreed to grant a loan to BORROWER to be used in the

expansion, operation and maintenance BORROWER’S business operations.

B. CREDITOR is willing to extend the loan to BORROWER subject to the terms and
conditions of this Loan Agreement (Agreement).

AGREED TERMS AND CONDITIONS:

1. AMOUNT

CREDITOR agrees to loan BORROWER the amount of Three Million Pesos

(P2,500,000.00) (the “Loan”).

2. TERMS OF PAYMENT

a. The Loan shall be due and demandable three (3) years from the date of
execution of this Agreement or on January 07, 2022.

b. The interest on the Loan, to be computed at the rate of six and percent (6%) per
annum, shall be paid to CREDITOR on monthly basis, through post-dated
checks, from the date of the execution of this Agreement.

c. Without prejudice to the foregoing, BORROWER shall have the option to pay
CREDITOR the Loan in full, together with the accumulated interest, on any date
prior to expiration of the 3-year period. After such payment, the obligation of
BORROWER shall be deemed satisfied and this Agreement shall be
automatically terminated.

3. TAXES

Any taxes, fees or charges of whatever nature applicable to the transaction and the
documents or instruments required shall be for the account of BORROWER.

4. MISCELLANEOUS PROVISIONS
a. Upon full payment of the Loan and applicable interests, this Agreement shall
automatically cease to have any force and effect.

b. Notices required to be served under this Agreement shall be made in writing and
sent to the address of the party indicated in this Agreement or to such other
address designated by the parties in writing.

b. Failure to exercise or delay in exercising on the part of CREDITOR of any right

power or privilege under this Agreement, or any document in connection with the
aforementioned documents shall not operate as a waiver unless made in writing.
The rights and remedies provided shall be cumulative and may be exercised
singly or concurrently and shall not be exclusive of any rights and remedies
provided by law.

c. This Agreement shall not be assignable by any party without the prior written
consent of the other party. Subject to the foregoing restrictions, all the terms and
provisions of this Agreement shall be binding upon and inure to the benefits of
and be enforceable by the respective successors and assign of the parties.

d. In case any one or more of the provisions contained in this Agreement shall be
declared by a competent court or authority to be invalid, illegal or enforceable in
any respect, the validity, legality and enforceability of the other provision herein
shall not in any way be affected or impaired thereby.

e. The terms and conditions herein contained constitute the entire agreement
between the parties relating to the subject matter hereof and shall supersede all
previous communications, oral or written, between the parties with respect to the
subject matter hereof.

f. This Agreement may be amended only by the written agreement of the parties
through their duly authorized officers or representatives.

SIGNED on the date and in the place first written above.

ANICETO M. SOBREPENA NUEVA ICE CO.

Creditor Borrower

By:

GABRIEL C. SOBREPENA
President

Signed in the Presence of:

_________________________ ________________________
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

PASIG CITY ) S.S.

BEFORE ME, a Notary Public, ___________________ in Pasig City, personally

appeared the following:

Name Competent Evidence of Date/Place Issue

Identity
Aniceto M. Sobrepena

Nueva Ice Co.

By:
Ramoncito Miguel A. Santos Philippine Passport 17 Jan 2018 / Manila
P5641789A

known to me to be the same persons (and on the basis of competent evidence of

identity) who executed this Loan Agreement consisting of three (3) pages, including this
page on which the Acknowledgment is written, duly signed by the parties and their
instrumental witnesses, and they acknowledged to me that the same is their free and
voluntary act and deed and of the corporations represented herein.

WITNESS MY HAND AND NOTARIAL SEAL on the date and in the place first
written above.

Doc. No. ________;

Page No. ________;
Book No. ________;
Series of 2019.