PROMISORRY NOTE

PHP 500,000.00

FOR VALUE RECEIVED, I promise to pay to the order of Juan dela Cruz the sum of FIVE
HUNDRED THOUSAND PESOS (P500,000.00), Philippine Currency, on or before July 21, 2005 at his
residence at 1025 Jose Abad Santos Street, Tagum City. Failure on my part to comply with this promise
on the date aforementioned shall subject the above principal to interest at the rate of 6% per month
and should the collection be made with the services of lawyer, then the same shall further be subject
to 10% attorney's fees. In the event that a case for collection of the sum of money above stated be
filed, the principal shall earn further interest at the rate of 5%, plus cost of suit and other expenses

July 3, 2008 at Madera Law Office, Davao City, Philippines.

(Sgd)

Pedro Santos

PROMISSORY NOTE

P_____________

FOR VALUE RECEIVED, I promise to pay without need of demand to the order of __Payee__,
at his office at _____________, the principal amount of PESOS:
__________________________ (P_____________), on or before _____________. In addition
to the foregoing, I promise to pay monthly interest at the rate of _____________
(_______%) percent, without need of demand, starting from the month of _____________
until this note is fully paid.

In case of default in the payment of this note plus interest when it becomes due and
demandable, I agree to pay an additional amount equivalent to _____________ (_______%)
percent per month based on the total amount due and demandable as penalty, compounded
monthly until fully paid; and in case it becomes necessary to collect this note
through any Attorney-at-Law, the further sum of _____________ (_______%) percent
thereof as and for attorney's fees, exclusive of costs and judicial/extra-judicial
expenses.

__Date__, _____________, Philippines

Maker
July 3, 2008

Pedro Santos
Davao City

RE: Collection of certain sum of PhP 500,000.00

Dear Mr. Pedro,

We have come into our knowledge that you owe my client Mr. Juan dela Cruz an amount of FIVE
HUNDRED THOUSAND PESOS (PHP 500,000.00), in Philippine currency. This amount has been due and
demandable since June 25, 2008. We would like to demand the payment of such amount. If you should
pay or deliver the amount, please deliver the amount at my office on or before July 21, 2008 at Madera
Law Office, Jose Abad Santo St. corner National Highway, Tagum City. If not paid on the date and place
stated in this letter, we have no choice but to resort to take legal actions.

Respectfully,
Atty. Marcel Christoffer N. Madera

July 3, 2008
Pedro Santos
Davao City

RE: Collection of certain sum of PhP 500,000.00

Dear Mr. Pedro,
We have come into our knowledge that you owe my client Mr. Juan dela Cruz an amount of FIVE
HUNDRED THOUSAND PESOS (PHP 500,000.00), in Philippine currency. This amount has been due and
demandable since June 25, 2008. We would like to demand the payment of such amount. If you should
pay or deliver the amount, please deliver the amount at my office on or before July 21, 2008 at Ranain
Law Office, Purok 1-A, Bongbong, Pantukan Compostela Valley Province. If not paid on the date and
place stated in this letter, we have no choice but to resort to take legal actions.

Respectfully yours,
Atty. Hajarah S. Ranain