REPUBLIC OF THE PHILIPPINES)

QUEZON CITY ) S.S.

PROMISSORY NOTE

I, ALVARADO DUHAY - LUNGSOD, of legal age, Filipino, with residence

and postal address at 93 Sulu St., Phase II, Ayala Alabang Village, Muntinlupa City,
promise to pay the amount of ONE MILLION FIVE HUNDRED FIFTY TWO
THOUSAND NINE HUNDRED FIFTY PESOS (P 1,552,950.00) which I borrowed
last May 20, 2001 up to May 22, 2006 from EDGARDO TING with address at 216-B
Malinao St., Highway Hills, Mandaluyong City on or before May 31, 2006.

In the event that I cannot pay the said amount on or the specified date will mean
mortgage of my property described as TCT No. 8180 in favor of said loan.

ALVARADO DUHAY - LUNGSOD

Affiant

SUBSCRIBED AND SWORN to before me this _____ day of ______________

2006 at Quezon City, Philippines, affiant exhibiting to me his CTC. No.
_________________ issued on ________________ issued at __________________.

Doc. No.: _____________ NOTARY PUBLIC

Page No.: _____________
Book No.: _____________
Series of 2006