PROMISSORY NOTE

P200,000.00

FOR VALUE RECEIVED, I promise to pay without need of demand to

the order of CARLOS JOHN M. FIGUEROA, the principal amount of TWO
HUNDRED THOUSAND PESOS (P200,000.00). The said principal amount
shall be paid on installment in the amount of Five Thousand Five Hundred Fifty-
Six (P5,556.00) per month starting January 2020 until fully paid. In addition to
the foregoing, I promise to pay monthly interest at the rate of THREE AND A
HALF PERCENT (3.5%), without need of demand, starting from the month of
January 2020 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 TEN(10%) 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
TEN (10%) percent thereof as and for attorney's fees, exclusive of costs and
judicial/extra-judicial expenses.

This promissory note is in addition to the promissory note executed last

November 2019, which is secured by contract of mortgage executed by the
parties of this instrument.

_________, _____________, Philippines.

NIMFA M. BASSIG