PROMISSORY NOTE

PHP _____________

FOR VALUE RECEIVED, I promise to pay to the order of

_________________________ the sum of (in words) (P______________), Philippine
Currency, on or before ________________________ at his residence/office at
__________________________. Failure on my part to comply with this promise on
the date aforementioned shall subject the above principal to interest at the rate of
_____% per month and should the collection be made with the services of a lawyer,
then the same shall further be subject to 20% attorney's fees. In the event that a case
for collection of the sum of money above stated be filed, the principal shall earn
further interest at the rate of _____%, plus cost of suit and other expenses

_____________________, 20___ at _____________________, Philippines.