PROMISSORY NOTE

P340,000.00 June 1, 2018

FOR VALUE RECEIVED, I promise to pay to the order of XXX, the sum of THREE
HUNDRED FORTY THOUSAND PESOS (P340,000.00) Philippine Currency, in thirty
four (34) monthly instalments of TEN THOUSAND PESOS (P10,000.00) starting August
1, 2018 and every 1st day of the month thereafter until fully paid. Should I fail to pay on
the due date, a late penalty fee of three percent (3%) per month shall be added on each
unpaid instalment from due date thereof until fully paid.

XXX
Maker

Republic of the Philippines )

In the City of Davao ) s.s
x-----------------------------------------x

ACKNOWLEDGMENT

BEFORE ME, a Notary Public for and in the City of Davao, this ____ day of June 2018,
personally appeared XXX with her Competent Evidence of Identity bearing XXX, respectively,
known to me to be the same person who executed the foregoing instrument, and they
acknowledge before me that she has read and understood the contents thereof to the best of her
own knowledge, and belief and that the same is her free and voluntary act and deed.

Witness my hand and notarial seal.

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