LOAN AGREEMENT

KNOWN ALL MEN BY THESE PRESENTS:

This Agreement entered into by and between:
Theodore Mabalasan, of legal age, Filipino, with residence at
130 Mayo 28 St. Punta, Sta. Ana, Manila, (hereinafter referred to as the
FIRST PARTY),
-and-
Leo Acebedo, of legal age, Filipino, with residence at 223 L. Garcia St.
Punta, Sta. Ana, Manila, (hereinafter referred to as the SECOND
PARTY),
On this day, July 21, 2017 at 223 L. Garcia St. Punta, Sta. Ana, Manila.

THE LOAN
1. At the request of the FIRST PARTY, the SECOND PARTY had
extended a loan to the FIRST PARTY in the principal sum of PESOS:
ONE MILLION FIVE HUNDRED THOUSAND PESOS (P1,500,000.00),
the full amount of which is acknowledged to have been received by the
FIRST PARTY. The FIRST PARTY promises to repay the LOAN to the
SECOND PARTY within ninety (90) days from date hereof, together with
at FOUR Per Cent (4%) per month on said amount from date hereof
until full payment thereof.

2. In the even the debtor shall fail to pay the LOAN as it falls due, the
unpaid principal and accrued interest thereon shall, in addition to the
stipulated interest, be subject to penalty interest at the same rate as the
stipulated interest commencing on the date immediately following the
due date of the LOAN until full payment of the entire outstanding amount
of the LOAN.

IN WITNESS WHEREOF, the parties hereto have caused these presents

to be executed on the date and at the place set forth above.

By:

Theodore Mabalasan Leo Acebedo

(FIRST PARTY) (SECOND PARTY)