PROMISSORY NOTE

& LOAN AGREEMENT

Note’s Due Date ___________

Date: ___________________
No. PN-001
Php_______________

FOR VALUE / LOAN RECEIVED, I, _______________________of legal age, single/married,

Filipino citizen and a resident of ____________________________ (herein after referred to as the
“Debtor” or “Debtors” for brevity) solely promises to pay to the Order of________________ (herein
after referred to as the “Lender”) in its business address at ______________________________, the
sum of PESOS: _______________(Php ), Philippine Currency.

The PRINCIPAL LOAN AMOUNT shall be paid within ___________ (________)

YEAR/MONTHS upon demand by __________________ commencing on _______________________.

In the event that the principal is not paid on due date, the Debtor/s shall be declared in
default and the entire obligation within the aforementioned period of fulfillment, at the option
of the _________________ and without prior notice, shall immediately becomes due and payable.

Moreover, effective upon non-payment of the loan thereof when due, I hereby authorize
the Lender to apply to the payment of this Note, any and all securities, collaterals, or things of
value which may be in the hands or custody on deposits, safekeeping, or as a guarantee for the
payment of the foregoing obligation, and for this purpose, I hereby irrevocably constitute and
appoint the said Lender to be my true and lawful attorney-in-fact with full power and authority
for me/us and in my/our name/s place/s and stead or on my/our behalf, but without prior
notice, to negotiate, foreclose, sell or transfer any of said securities, collaterals, or things of
value which it may hold, by public or private sale and apply the proceeds thereof to the
payment of this Note.

It is likewise understood that any partial payment or performance on this Note or any
extension thereof granted by the Lender will neither alter or vary the terms of the original
conditions of the loan obligation, nor discharge the same, and such partial payment or
performance shall be considered as written acknowledgment of this obligation which shall not
interrupt the period of prescription.

Should it becomes necessary to collect this Note through an attorney-at-law, I/We agree
to pay not less than Ten Percent (10%) of the total amount due on this Note as attorney’s fees
exclusive of legal expenses and all costs and fees allowed by law.

Demand and dishonor requirement is hereby waived. Holder may accept partial
payment and grant renewals or extensions of payment reserving his right of recourse against
each and all endorsers to this Note.

In case of judicial execution of this obligation or any part of it, I/We hereby waive all my
rights under the provisions of Section 13, Rule 39 of the 1997 Rules of Civil Procedure.

Furthermore, I/We hereby acknowledge that the foregoing Promissory Note supersedes
and/or revokes any Promissory Note executed by me/us in connection with the subject loan.

____________________________________
Debtor By: ___________________________________
Lender

SIGNED IN THE PRESENCE OF:

________________________ ______________________________

ACKNOWLEDGMENT

Republic of the Philippines )

______________________ ) S.S.

BEFORE ME, a NOTARY PUBLIC for and in ____________________________, this

____ day of _________________________ 20____, personally appeared the following
person/s showing me his/her/their Competent Evidence of Identity/ies indicated
herebelow and who represented, declared and affirmed before me that he/she/they
is/are the same person/s who executed the foregoing instrument and acknowledged to
me that the same is his/her/their true, free and voluntary act and deed:

Competent Evidence of
Name of Executing Party Identity/Gov’t Issued IDs Date and Place of
Issuance

Debtor

Lender
By:
_________________________________

This instrument relating to a Promissory Note and Loan Agreement consisting of

Two (2) Pages has been signed by the executing party/ies and his/her/their respective
instrumental witnesses and has been sealed with my notarial seal.

WITNESS MY HAND AND SEAL, this _____________________________ at

_____________________________________.

Doc. No. __________;

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