LOAN AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This LOAN AGREEMENT, made and executed on this ____ day of _____________,
in ________________ City, Metro Manila, by and between:
WESLEY KING ONG, single, of legal age, Filipino Citizen, with residence at
__________________ ______________________, hereinafter referred to as the
"BORROWEE".
AND
MICHAEL CHRISTIAN ROSAES, single , of legal age, Filipino Citizen, with
residence at ________ _____________________, hereinafter referred to as the
"BORROWER"
W I T N E S S E T H; T H A T:
THAT both the BORROWEE and BORROWER has entered into this LOAN
AGREEMENT with a collateral free character loan.
That the BORROWER has loaned form the BORROWEE a total amount of
THREE HUNDRED THOUSAND (PhP 300,000.00) PESOS, Philippine Currency with an
interest of 10% to be paid in 10 post-dated monthly equal installments checks,
every 30th of the month starting from May 30, 2016 to February 28, 2017, with an
amount of THIRTY THREE THOUSAND (PhP 33,000.00) PESOS, Philippine Currency.
In the event that the BORROWER fails to fund any of the check/s due. the
BORROWER shall incur an additional 1% interest for every week of delay in favor to
the BORROWEE.
In the event the more than 2 months has passed and the BORROWER fails to
pay the previous and current monthly installment. The BORROWER gives the
BORROWEE the right in any court of law to sue the BORROWER for Stafa.
IN WITNESS WHEREOF, we have here unto set our signatures on this
__________ day of _____________ in ______________ City, Metro Manila.

WESLEY KING ONG

MICHAEL CHRISTIAN ROSAES