LOAN AGREEMENT AND PROMISSORY NOTE

THIS LOAN AGREEMENT AND PROMISSORY NOTE (the “Note”), is made this 29 th day of
February, 2020, by ANASTACIO CAYAON JR. (hereinafter, known as “LENDER”) and CHERRY MAE
MONTANO (hereinafter, known as “BORROWER”).  BORROWER and LENDER shall collectively
be known herein as “the Parties”.  

PROMISSORY NOTE

FOR VALUE RECEIVED, BORROWER promises to repay to the order of LENDER, the sum of Php
60, 000.00 together with interest thereon at a rate of ______________________.

ADDITIONAL LOAN TERMS

The BORROWER and LENDER, hereby further set forth their rights and obligations to one
another under this Loan Agreement and Promissory Note and agree to be legal bound as
follows:

A.
Principal Loan Amount Php 60, 000.00

B.
Loan Repayment Terms.
BORROWER will make payment(s) to LENDER as soon as she starts working as OFW in Qatar.
And the BORROWER shall make all payments called for under this loan agreement by depositing
directly to the LENDER’S bank account. BORROWER’S failure to pay any amount due as principal
or interest on the date required under this loan agreement. There shall also be imposed upon
BORROWER a 2% penalty for any late payment computed upon the amount of any principal and
accrued interest.

In addition non-payment for the period of six months shall be a ground for filing a case against
the Borrower.

IN WITNESS WHEREOF and acknowledging acceptance and agreement of the foregoing,

BORROWER and LENDER affix their signatures hereto.

CHERRY MAE MONTANO ANASTACIO CAYAON JR.

BORROWER:   LENDER