LOAN AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Loan Agreement (the “Agreement”) is made and entered by and between:

______________________________, single/married, Filipino, of legal age and

with residence address at __________________________________________,
hereinafter referred to as the “LENDER”;

-and-

______________________________, a ___________________ institution

existing under the laws of the Republic of the Philippines, with principal address
at _________________________, represented herein by its Chairman,
_______________________, with full authority to do so by virtue of Board
Resolution No. _____ dated ________, hereinafter referred to as the
“BORROWER”;

WITNESSETH: That

WHEREAS, the BORROWER has requested the LENDER a loan intended for the
_____________________________________________;

WHEREAS, the LENDER has agreed to grant a loan to the BORROWER, with a fixed
interest rate of five percent (5%) per annum;

NOW, THEREFORE, for and in consideration of the foregoing premises and mutual
covenants herein below set forth, the parties hereto bind themselves and agree as follows:

1. LOAN AMOUNT: The LENDER agrees to lend the burrower the sum of
______________________________________________________.

2. PURPOSE OF THE LOAN: To finance the

_____________________________________.

3. INTEREST RATE AND TERM: The term of the loan shall be for a period of _______
years commencing upon the signing of this Agreement subject to a fixed interest
rate of five percent (5%) per annum.

4. REPAYMENT: It is agreed that the payment of the loan and interest shall be in sixty
(60) equal monthly amortization or equivalent to ___________________ payable
every fifth (5th) day of the month, starting on __________________________ until
__________________________.
 5. PRE-TERMINATION: This Agreement may be terminated at any time by mutual
agreement of the parties in writing. Any party may pre-terminate this contract upon
violation of the other parties of any terms and conditions of this contract.

6. That the parties mutually agree to comply with their respective obligations under the
Agreement and in case of any violation of the terms and conditions thereof, the
aggrieved party shall have the right to file the necessary action with the proper court for
the protection of his or her rights, plus the right to claim expenses, damages and
attorney’s fees.

IN WITNESS WHEREOF, the parties hereto have affixed their signatures this _______ day of
___________ at ______________________________________________.

__________________________________
LENDER

__________________________________
BORROWER
by:

_________________________________
Chairman

Signed in the Presence of:

___________________________________ ___________________________________

ACKNOWLEGMENT