CONTRACT OF LOAN KNOW ALL MEN BY THESE PRESENTS: This Contract of Loan (the agreement) is entered into by and

between: ______________________________, is an entity duly organized and existing under and by virtue of the laws of the Republic of the Philippines with a principal addres at _________________________, represented by ______________________, ________ hereinafter referred to as the CREDITOR; -and______________________________, is an entity duly organized and existing under and by virtue of the laws of the Republic of the Philippines with the principal address at _____________________, represented by ____________________________, _____________ , hereinafter referred to as the BORROWER. WITNESSETH: WHEREAS, the BORROWER is an affiliate of the CREDITOR and the former is in need of funds to finance the ___________________________ (or for other purposes, please specify); WHEREAS, the CREDITOR is willing to extend a loan to the BOROWER under the terms and conditions of this agreement and with the proper Board approval the former and the latter accepted the same; WHEREFORE, IN VIEW OF THE FOREGOING, the parties agreed to the following terms and conditions: 1. That the CREDITOR will lend to the BORROWER the amount of __________________________ PESOS (Php__________.00), with an interest of ____________ percent (___%) per month payable within _________ (_____) Months at _________________________________ PESOS (Php________________.00) per month including interest. 2. The BORROWER shall use the Principal Amount under this agreement for the purpose of (please indicate the purpose of the loan). 3. That the __________ percent (___%) monthly interest shall be paid in advance every ___th day of the month to commence on ___________________ while the monthly payment on the principal shall be due and demandable every month without need of demand until fully paid.

4. That failure to pay the interest and monthly payment on the agreed date shall entitle the CREDITOR to a penalty of additional __________ percent (___ %) monthly interest until the full payment hereof is made. 5. That upon signing of this CONTRACT, CREDITOR will give the ______________________ PESOS (Php_________________.00), referred as Principal Amount, to the BORROWER and the latter hereby acknowledges the receipt of the Principal Amount. 6. That in case BORROWER fails to pay _____ percent (__%) monthly interest and monthly payments in six (6) consecutive months, the entire unpaid principal amount including accrued interests shall become due and demandable including the accrued penalty without notice, unless CREDITOR waives such penalty if BORROWER request for it and the former agrees. 7. That the CREDITOR shall have the right to set of any amounts due under this agreement against any sums owing the CREDITOR to the BORROWER by giving notice of set off to the latter. 8. That the parties herein agree that the loan under this agreement shall be unsecured upon signing, provided however, that the BORROWER shall provide sufficient properties and other securities when subsequently required by the CREDITOR, provided further, the parties shall execute the necessary security or guaranty documents to be made as an integral part of this agreement. 9. That if one or more provisions of this agreement shall be held invalid. Illegal or unenforceable shall remain in and shall given full force and effect. 10.That in case of controversy in the interpretation and construction of any provisions under this agreement shall first be resolved in an arbitration proceeding, as condition precedent in filing of appropriate civil action. In case of litigation, the parties agree to file the appropriate legal action only in the courts of Legazpi. IN WITNESSS WHEREOF, the parties have hereunto set their signatures this ___th day of _________________ 2013 in ____________ City. CREDITOR: ______________________________________ __________________________________ BORROWER:

Signed in the presence of:

__________________________________ _________________________________ (Signature over printed name)

(Signature over printed name)

Republic of the Philippines) _________City

)s.s. ACKNOWLEDGEMENT

BEFORE ME, this ____ day of _____________, 20____, at the City of Legazpi, Philippines, personally appeared: NAME CTC NO. DATE AND PLACE OF and Govt ISSUE issued ID VALID ID

all are known to me and to me known to be the same parties who have executed this foregoing CONTRACT OF LOAN, consisting of ___ (__) pages including this Acknowledgement where it is written and signed by the parties and their instrumental witnesses on the left hand margin on each page and further acknowledged to me that the same is their free and voluntary act and deed. WITNESS MY HAND AND NOTARIAL SEAL, on the date and place abovewritten.

Doc. No. ____; Page No. ____; Book No. ____; Series of 20___.

NOTARY PUBLIC