LOAN AGREEMENT WITH CHATTEL MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This Agreement is entered into this 1 April 2020, at Cebu City, Province of Cebu, Philippines, by
and between:

TOYOTA CEBU CITY, INC., a stock corporation duly organized and registered under the laws
of the Philippines, with principal address at 34 M.J. Cuenco Ave., Cebu City, Philippines, represented by
JOHN MITCHELL R. TAN, Chairman, hereinafter referred to as the "Creditor";

– and –

LOVELY GAY P. ROBIN, of legal age, Filipino, married to CHARLES EDWARD A. ROBIN,
and with postal address at Door C, Amores Compound, Doña Esperanza Village, Tisa, Cebu City,
Philippines, hereinafter referred to as the "Debtor";

Each of the Creditor and the Debtor may be referred to as a "Party" in the singular and "Parties",
collectively.

WITNESSETH: THAT

WHEREAS, the Debtor has requested a loan of Eight Hundred Thousand Philippine Pesos
(₱800,000.00) (the "Loan") from the Creditor;

WHEREAS, the Creditor has agreed to extend a loan to the Debtor subject to the terms and
conditions set forth herein;

NOW, THEREFORE, for and in consideration of the foregoing premises and of the mutual
covenants and agreements hereinafter stated, the Parties agree as follows:

1. Loan. The Creditor has extended the Loan to the Debtor, the full amount of which is acknowledged
to have been received by the Debtor.

2. Interest. The Debtor shall pay interest on the Loan at the rate of Eight Per Cent (21.51%) per annum
on the outstanding balance. All payments for interest shall be computed daily on the basis of a 365-
day year for the actual days elapsed. Interest shall accrue from the date hereof until full payment
thereof.

3. Penalty. If the debtor fails to pay the Loan as it falls due, the unpaid principal shall, in addition to the
stipulated interest which shall continue to accrue on such unpaid amounts, be subject to a penalty rate
of Three Per Cent (3%) per annum, computed daily on a 365-day year basis, commencing on the date
immediately following the due date of the Loan until full payment of the entire outstanding amount,
including interest and penalty, of the Loan.
4. Payment. The Debtor shall fully pay the Loan and any accrued interest to the Creditor as follows:

a. Loan. Within 3 years over Thirty-Six (36) equal installments of Twenty-Two Thousand Two
Hundred Twenty-Two Philippine Pesos and Twenty-Two Sentimos (₱22,222.22) payable every
10th of the month (the "Payment Date").

b. Interest. Any accrued interest shall likewise be paid, in addition to the Loan, on the Payment
Dates described above.

If any Payment Date would fall on a day which is not a business day, the Loan shall be payable on the
next succeeding business day and the interest shall be adjusted accordingly.

5. Application of Payment. All payments shall be applied first against interest due on the Loan then
against the principal amount of the Loan then due and payable.

6. Use of the Loan. The Debtor agrees that it will use the proceeds of the Loan exclusively for the
following:

To purchase a car

7. Security.

a. The Debtor hereby creates, establishes, and constitutes in favor of the Creditor a real estate
mortgage over the following property with all its increments and accessories (the "Property") to
secure the payment of the Loan and the interest and other charges thereon, and to assure the
prompt and faithful performance by the Debtor of all its obligation in this Agreement:

2015 Toyota Avanza with Chassis No. KUN405089946 Engine No. 2KDU132311, Plate
no. NQF 727

b. The Debtor states that the Property is part of the conjugal property of the Debtor and their spouse
and the spouse has given their consent to the mortgage of the Property, as evidenced by their
signature on this Agreement and that Property is free from any lien, encumbrance or other
security interest of any other person, and that there is no legal or contractual impediment which
would in any way impair the validity or enforcement of this Agreement.

c. The Debtor shall insure or cause to be insured, to the Creditor's reasonable satisfaction, at all
times and at its own expense the Property for the full insurance value payable to the Creditor as
their interest in the Properties may appear. The Debtor shall endorse and deliver the insurance
policy or policies to the Creditor. Upon failure of the the Debtor to insure or cause to be insured
the properties and to endorse and/or deliver the insurance policy or policies to the Creditor, the
Creditor may, at their option, insure the Properties and any and all amounts paid for such
insurance shall be repaid by the Debtor with interest thereon at the same interest rate imposed
under this Agreement.

d. The Debtor agrees and undertakes to execute and deliver to the Creditor such documents as said
Creditor may reasonably request from the Debtor from time to time in connection with the
mortgage.
 e. The Creditor or their duly appointed representative/s may have the right to inspect the state or
condition of the Property upon a prior written notice of at least 24 hours to the Debtor during
business hours from 9:00 a.m. to 5:00 p.m. in the premises where the Property is located.

f. The Debtor may not, during the existence of the pledge, mortgage, or sell the Property without
the consent of the Creditor, which consent shall not be unreasonably withheld.

g. The Debtor shall immediately notify the Creditor of damage, loss or, destruction of the Property.

8. Taxes and fees. All documentary stamps due on this Agreement as well as all expenses for the
registration of the Mortgage and other government fees and charges imposed on or in connection with
this Mortgage shall be for the account of the Debtor.

9. Event of Default. Each of the following shall constitute an Event of Default:

a. Failure of the Debtor to comply with any of the covenants or obligations expressed or implied in
this Agreement;

b. Failure of the Debtor to pay any principal amount or interest, when due and payable in
accordance with the terms of this Agreement; or with respect to any amount other than the
principal or interest, failure of the Debtor to pay within thirty (30) days from receipt of payment
notice for said amount;

c. Insolvency of the Debtor or the inability of the Debtor to pay its debts when due or commits any
act of insolvency;

d. Where the Creditor reasonably believes that the Loan has been used by the Debtor for some
purpose other than the agreed Use of the Loan;

e. An attachment or levy upon all or substantial party of the Debtor's property which would
materially impair the Debtor's financial ability to perform its obligations under this Agreement;

f. Violation by the Debtor of any law, regulation, judgment, or administrative decision or decree,
including non-payment of taxes, in circumstances where the Creditor reasonably believes that
said violation will have an adverse effect on the Debtor's ability to meet its obligations under this
Agreement.

10. Consequences of Event of Default. If an Event of Default shall have occurred, the Creditor may, by
notice in writing, require the Debtor to immediately pay the entire Loan and any accrued interest.

11. Notices. Any notice or communication sought to be made in relation to this Agreement shall be in
writing and shall be deemed duly given and sufficient under the following:
a. On the date given, if by personal delivery;

b. Ten (10) business days after posting or the date of receipt, whichever is earlier, if transmitted by
mail; or

c. Two (2) business days from date of transmittal or the date of acknowledgement of transmittal,
whichever is earlier, if transmitted by facsimile or email.
12. Waiver and Cumulative Rights. Failure or delay of the Creditor in exercising any right, power, or
remedy upon any breach or default of the Debtor under this Agreement shall thereafter not be
construed as a waiver, abandonment or cancellation nor shall it impair any such right, power, or
remedy. Any waiver on the part of the Creditor shall be in writing. All remedies afforded the Creditor
under this Agreement, by law, or otherwise, shall be cumulative and not alternative.

13. Governing Law. This Agreement and all other documents pertaining hereto shall be governed and
construed in accordance with the laws of the Republic of the Philippines.

14. Severability. In the event that any of the provisions of this Agreement are held to be invalid or
unenforceable in whole or in part, the remaining provisions shall not be affected and shall continue to
be valid and enforceable as though the invalid or unenforceable parts had not been included in this
Agreement.

15. Assignment. This Agreement shall be binding upon and enforceable on the Debtor and the Creditor
and their respective successors and assigns. The Debtor shall not assign or transfer its rights or
obligations hereunder without the prior consent of the Creditor, which consent shall not be
unreasonably withheld.

16. Entire Agreement. This Agreement contains the entire understanding between the parties and
supersedes and cancels all prior agreements of the parties, whether oral or written, with respect to
such subject matter.
IN WITNESS WHEREOF, the parties have executed this Agreement of the date first stated above.

TOYOTA CEBU CITY, INC.

Creditor By:

JOHN MITCHELL R. TAN LOVELY GAY P. ROBIN

Chairman Debtor

Consent to enter into the Real Estate Mortgage:

CHARLES EDWARD A. ROBIN

Spouse of Debtor

Signed in the presence of:

_______________________________ _______________________________
Witness Witness