REPUBLIC OF THE PHILIPPINES )

DAVAO CITY ) S.S.

X-------------------------X

PROMISSORY NOTE

P 350,000.00

On or before 07 March 2020, for value received I jointly and severally, promise to pay
the LETICIA RESORTS DAVAO, or order at its office at Doors 7 & 8, Del Mundo Building,
El Rio, Davao City, Philippines, in the sum of THREE HUNDRED FIFTY THOUSAND (P
350,000.00) Philippine Currency, representing principal and interest at the rate of 3% per month.
All unpaid amortizations shall earn interest at 1% per month.

In case of non-payment of the amount of this note or any portion of it on demand, when
die, or any other amount or amounts due on account of this note, the entire obligation shall
become due and demandable, and if for the enforcement of the payment thereof, the LETICIA
RESORTS DAVAO is constrained to entrust the case to its attorney’s, I jointly and severally,
bind myself to pay for attorneys, as provided for in the mortgage contract, in additional to the
legal fees and other incidental expenses. In the event of foreclosure of the mortgage securing this
note. I further bind myself jointly and severally, to pay, the deficiency, if any.

This note is executed by the Borrower and delivered to the Lender in Davao City this 10 th day of
January, 2020. 

AMANDA T. BYNES
Affiant
JURAT

SUBSCRIBED AND SWORN to me in the Davao City, this 10th day of January 2020 by
Affiant who exhibited to me her TIN No. 941-087-003 as competent evidence of identity.

Doc. No. _____;

Page No. _____;
Book No. _____;
Series of 2020.