Amount: P150,000.

00
Dated Granted: January 09, 2018
Due Date: _________________

PROMISSORY NOTE

For VALUE RECEIVED, I, _____(maker/borrower) with address at _________ promise to

pay ____________(holder/creditor), or order, at the latter’s address at Bliss Village, City of
Ilagan, Isabela the principal sum of ONE HUNDRED FIFTY THOUSAND PESOS
(P150,000.00) Philippine currency, without interest.

That as a security for the payment of the aforesaid loan, I hereby assign and allow my above
named creditor to use and occupy for commercial purposes my market stall identified as building no.
_____ located at ______________.

That in case of any default in payment of the aforesaid sum on stipulated due date above
stated, I further undertake to absolutely transfer, cede, relinquish and/or waive my possessory
rights/privileges over said market stall free from liens or encumbrances in favor of my above named
creditor;

Failure of the Creditor/Holder to exercise any option hereunder shall not constitute a waiver of
the right to exercise the same in the event of any subsequent default or in the event of the continuance
of any existing default after demand for strict performance hereof;

Maker hereby waives demand, diligence, presentment for payment, protest or notice of
demand and exercise of any option hereunder. Maker or each individual and entity signing this note,
whether or not as a Maker, further agrees that the granting of any extension or extension of time for
payment of any sums or sums due hereunder, or under any other instrument securing this note, or for
the performance of any covenant, condition or agreement hereof or thereof or the taking release of
other or additional security shall in no way release or discharge the liability the Maker or any signor
or any guarantor hereof.

Time is of the essence of this note and each and every term and provision herein is intended to
insure the prompt payment of the obligation.

IN WITNESS WHEREOF, we have hereunto set our hands this ___ day of _________ 2018
in the__________.

Borrower Holder

SIGNED IN THE PRESENCE OF:

__________________ __________________

-ACKNOWLEDGMENT-
Republic of the Philippines )
______ )
x----------------------------------x
Before Me, a Notary Public for the_________, Philippines, this ___ day of
_____________, personally appeared, the above named persons who are known to me and to me
known to be the same persons who executed the foregoing instruments where they acknowledged to
me that the same is their free act and deed.

Witness my hand and seal on this ____ day of ______________ at________.

Doc No: ___

Page No: ____ Notary Public
Book No: ___
Series of 2018