Promissory Note Simple Form with Interest Penalty and Attorneys Fee)

PROMISSORY NOTE

P_____________

FOR VALUE RECEIVED, I promise to pay without need of demand to the order of __Payee__,
at his office at _____________, the principal amount of PESOS:
__________________________ (P_____________), on or before _____________. In addition to
the foregoing, I promise to pay monthly interest at the rate of _____________ (_______%)
percent, without need of demand, starting from the month of _____________ 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 _____________ (_______%) 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 _____________ (_______%) percent thereof as and for attorney's fees, exclusive
of costs and judicial/extra-judicial expenses.

__Date__, _____________, Philippines

Maker