LOAN AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Loan Agreement is executed this ____ day of ________, 2020 at Quezon
City by and between:

Pedro DC Dela Cruz of legal age, Filipino citizen, and with principal residence at 123
Abakada Village, Quezon City St., hereinafter referred to as the “LENDER”

- and -

DEF INC. a corporation duly organized and existing under and by virtue of the laws of
the Republic of the Philippines, with business address at 345 Paaralan St., Brgy. Malaya,
Quezon City, represented in this act by its President Carmelo E. Regalado, and
hereinafter referred to as the “BORROWER”;

-WITNESSETH-

WHEREAS, the BORROWER is in need of additional capital for business;

WHEREAS, the LENDER has sufficient cash which is adequate to serve as a

loan;

WHEREAS, the LENDER hereby agrees to lend cash and the BORROWER
hereby agrees to borrow cash from the LENDER sufficient to form a part of the loan
subject to the following term and conditions;

NOW, THEREFORE, for and in consideration of the foregoing premises and the
mutual covenants, the PARTIES agree herein under:

1. The LENDER shall extend to the BORROWER cash loan in the full principal
amount of Three Million Pesos Only (Php 3,000,000.00) for two years with
1.5% monthly Interest Rate for the first year and 1.75% monthly Interest Rate
for the second year, which shall be given to the BORROWER on ____, 2020;

2. The BORROWER shall pay the amount borrowed in full on ____, 2023.

3. The BORROWER shall pay Forty Five Thousand Pesos Only (Php
45,0000.00) monthly to the LENDER as proceed of the loan every ____ of
each month starting on August ____, 2020 and will end on July ____, 2021,
and on the second year the interest amount will be Fifty Two Thousand Five
Hundred Pesos Only (Php 52,500.00) and end on July ____, 2022

4. In addition to the above stated obligation, if the Lender wish to pullout the
money before the lock in period he may do so, provided the Borrower will
deduct all the interest payments collected/paid to the principal amount.

5. This Agreement shall be binding upon the PARTIES, their successors and
permitted assigns. This Agreement shall be effective until the obligations
herein created are totally performed subject to the stipulations stated herein.
This Agreement constitutes the entire contract between the parties in respect
to the matters dealt with therein and the terms and conditions hereof may only
be modified, altered or amended with the prior written consent of both parties;
and,

6. Any actions that may arise from any violation/interpretations of the provisions
of this Agreement shall be filed in the proper courts of Quezon City to the
exclusion of all other courts.
IN WITNESS WHEREOF, the parties have executed this Agreement on the date and
place above specified.

PEDRO DC DELA CRUZ DEF INC.

LENDER CARMELO E. REGALADO
President
BORROWER

SIGNED IN THE PRESENCE OF :

______________________ ______________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

) S.S.

BEFORE ME, a NOTARY PUBLIC for the City of Quezon, this ______day of
________ 2020, personally appeared:

Name Competent Issued on Issued at

Evidence of Identity

Known to me to be the same persons who executed the foregoing instrument

which is a Loan Agreement consisting of two (2) pages including this page where this
Acknowledgment is written, and who acknowledged to me that the same is their
voluntary and free act and deed.

IN WITNESS WHEREOF, I set my hand and affix my notarial seal on the date
and place above written.

NOTARY PUBLIC

Doc. No.____;
Page No.____;
Book No.____;
Series of 2020.