PROMISSORY NOTE

FOR VALUE RECEIVED, I, ________________________________, of legal

age, single/married/widow/widower, Filipino citizen and a resident of
______________________________, promise to pay without the need of demand
to the order of __________________________________, at his/her
residence/office at _____________________________________, the amount of
______________________________________ (PHP ___________________), on
or before ______________________.

In addition to the foregoing, I promise to pay monthly interest at the rate of

________ (_____%) percent, starting on _______________________ until this
note is fully paid.

IN WITNESS WHEREOF, I have hereunto set my hand this

_______________ in _________________, Philippines.

______________________________
Maker
ID NO.____________________

SIGNED IN THE PRESENCE OF:

_________________________ _________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

_________________________)

BEFORE ME, a Notary Public for and in _________________, this

__________________, personally appeared herein above-named maker with
his/her IDENTIFICATION DOCUMENT as indicated below his/her name, known to
me and to me known to be the same person who executed the foregoing
instrument and acknowledged that the same is his/her own, free, voluntary act and
deed.

WITNESS MY HAND and NOTARIAL SEAL at date and place above

written.

Doc. No. ____;

Page No. ____;
Book No.____;
Series of ____.