PROMISSORY NOTE WITH UNDERTAKING

I, JUANA DELA CRUZ, of legal age, Filipino citizen, and a resident of No. 143 Meteor
Garden Homes, Barangay FortuneTeller, City of Antipolo, Metro Manila do hereby
promise that:

1. I will pay Ms. Rowena Ursua, also of legal age, single, Filipino citizen
and a resident of Barangay Lingsat, City of San Fernando, La Union my
debt amounting to _________________________________________
(P__________) on or before _______________;

2. The motor vehicle with Certificate of Rrgistration No. 123456789 under

my name shall serve as collateral to the aforesaid debt;

3. Should I default in payment, I undertake to execute a Deed of Sale of

Motor Vehicle in favor of Ms. Ursua.

Signed this ____ day of _________, 2018 at _______________________,

Philippines.

JUANA DELA CRUZ

Debtor/Affiant
ID No. __________________

SUBSCRIBED AND SWORN TO before me by affiant who executed to me

competent document/s to prove his identity on the day and place above written.