CONTRACT OF LOAN

WITH PROMISSORY NOTE

KNOW ALL MEN BY THESE PRESENTS:

This Deed is made and executed by and between:

JUAN A. DELA CRUZ, Filipino, of legal age, married, with residence and
postal address at Blk 8 Lot 2, Camella Homes Subdivision, Longos, City of
Malolos, Bulacan, hereinafter referred to as CREDITOR;

-AND-

BASILIO C. DELOS SANTOS, Filipino, of legal age, single, with residence

and postal address at #23 Mahalimuyak Street, Alido Heights Subdivision, City
of Malolos, Bulacan, hereinafter referred to as DEBTOR;

WITNESSETH

That the DEBTOR is desirous of borrowing the amount of ONE

HUNDRED THOUSAND (P100, 000.00) PESOS, Philippine Currency while the
CREDITOR is willing and able to lend the said amount, subject to the following
terms and conditions:

1. That the CREDITOR shall convey the amount of ONE HUNDRED

THOUSAND (P100, 000.00) PESOS to the DEBTOR upon execution
of this Contract;

2. That the DEBTOR shall pay the CREDITOR the aforementioned

amount loaned on or before December 31, 2020;

3. That in case of failure on the part of the DEBTOR to pay the amount
loaned in full at its aforementioned maturity date, then the
CREDITOR shall charge a penalty amounting to a compounded Two
percent (2%) interest per month of the total amount due until full
payment thereof;

4. That in case the court intervention should become necessary and

inevitable, the DEBTOR shall be liable for the court and litigation
expenses and attorney's fee amounting to fifteen (15) percent of the
total amount due and demandable;

5. That the parties herein hereby commit to fully observe the terms and
conditions as embodied in this contract and are fully aware that any
violation of the same shall expose such erring party to the
corresponding, criminal, civil and/or administrative liabilities.

IN WITNESS WHEREOF, the parties have hereunto set

their hands this 17 day of July, 2020 in City of Malolos, Bulacan,
th

Philippines.
 _____________________________ _____________________________
JUAN A. DELA CRUZ BASILIO C. DELOS SANTOS
Creditor Debtor

SIGNED IN THE PRESENCE OF:

_____________________ _____________________
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

CITY OF MALOLOS, BULACAN ) S.S.

Before me, Notary Public, for and in the City of Malolos, Bulacan, the
parties exhibiting to me their competent proof of identity, known to me and to
me known to be the same persons who executed the foregoing instrument, and
acknowledged to me that the same is their free and voluntary act and deed.

This instrument consisting of three (3) pages, including this page

wherein the acknowledgment is written, has been signed by the parties and
witnesses on each and every page thereof.

WITNESS MY HAND AND SEAL this 17 th day of July, 2020. City of

Malolos, Bulacan.

NOTARY PUBLIC

Doc. No. __________

Page No. __________
Book No. __________
Series of 2020.
 PROMISSORY NOTE

I, BASILIO C. DELOS SANTOS, agree and promise to pay JUAN A. DELA

CRUZ, or order the sum of ONE HUNDRED THOUSAND (P100, 000.00)
PESOS for value received, with two (2) percent interest payable on or before
December 31, 2020.

Witness my hand and seal this 17th day of July, 2020 at City of Malolos,
Bulacan.

_____________________________
BASILIO C. DELOS SANTOS
Debtor
Conforme:

__________________________
JUAN A. DELA CRUZ
Creditor