PROMISSORY NOTE

19 February, 2023

I, JUAN DELA CRUZ (payor), Filipino, of legal age, and resident of 4545 Juan Luna
St., Tondo, Manila, that FOR VALUE RECEIVED, hereby promise to pay, PEDRO
PENDUKO (payee), Filipino, of legal age, with address at 423 Binondo, Manila, the sum of
ONE HUNDRED THOUSAND PESOS (PHP100,00.00), on or before 1 December, 2023,
without need of further demand or presentation of this instrument, under the following payment
scheme:

1 March, 2023 25,000.00 pesos

1 May, 2023 25,000.00 pesos
1 August, 2023 25,000.00 pesos
1 December,2023 25,000.00 pesos

Total: 100,000.00

I further agree to allow the annotation of my indebtedness in favor of Pedro Penduko (payee).

The interest on above-stated amount is 20 percent per annum.

This instrument is executed this 19 February, 2023.

Juan Dela Cruz Pedro Penduko

Payor Payee

Republic of the Philippines)

Manila) s.s.
 ACKNOWLEDGMENT

On February 19, 2023, before me personally appeared JUAN DELA CRUZ and PEDRO
PENDUKO, whom I personally know to be the same persons who had signed the above promissory
note, and acknowledged the same to be their free act and deed.

Witness my hand and seal on the date and in the place above written.

Notary Public
Commission Serial No.______
Until December 31,_________
Roll of Attorney No._________
IBP No. ____________________
PTR No. ___________________

Doc. No. ______;

Page No. ______;
Book No. ______;
Series of 2023;