LOAN AGREEMENT

This LOAN AGREEMENT, made and entered into by and between:

______________, Filipino, of legal age, married and with residence address at

(address), hereinafter referred to as the “BORROWER”,

-and-

____________, Filipino, of legal age, and with office address at (floor),

____________________________, hereinafter referred to as the “LENDER”:

RECITALS

The Borrower and the Lender have agreed that, upon and subject to the
terms and conditions contained herein, the Lender has agreed to lend to the
Borrower the principal amount of Forty Thousand Pesos (P 40,000.00);

NOW, THEREFORE, the parties hereto agree as follows:

AGREEMENT

Article 1. Loan: The Lender has agreed to advance the sum of Forty Thousand Pesos
(P 40,000.00) by way of loan to the Borrower upon and subject to the conditions
contained in this Loan Agreement.

Article 2. Repayment of Loan: The principal amount of the loan together with
accrued interest shall be repayable within two weeks from the date of the signing of
this Agreement.

Article 3. Interest: The loan shall bear interest at the rate of 5-10%, which shall
accrue from the date of signing of this Agreement.

Article 4. Prepayment: The Borrower has the right to make payment, in full or the
remaining balance thereof, by serving a written notice to the Lender at any time
before the maturity date of the loan.

Article 5. Conditions: The Borrower shall settle the principal amount of the loan,
together with its accrued interest, within two weeks (2 weeks) from the date of the
signing of this Agreement.

IN WITNESS WHEREOF, the parties have hereunto set their hands in

_____________ on ______ day of ____________________.

______________________ __________________________
Borrower Lender

Signed in the presence of:

________________________________________ ________________________________________