LOAN REPAYMENT AGREEMENT

KNOW ALL MEN BY THESE PRESENTS

This loan agreement made and entered into this 10 th day of March 2023 at San
Fernando City, La Union by and between:

MARY ANN WANNAN, of legal age, widow, with address at 78 Arturo Balagot St.,
Pagdalagan Sur, Bauang, La Union, hereinafter to as “FIRST PARTY”

And

La Union Medical Diagnostic Center & Hospital, or LUMED Hospital for brevity, with
address at Ancheta St., Catbangen, San Fernando City, La Union, and represented
herein by its President, Jose A. Madayag, Jr., hereinafter referred to as “ SECOND
PARTY”
WITNESSETH

WHEREAS, on May 2, 2015, Mr. Alex Wannan (First Party) and La Union Medical
Diagnostic Center & Hospital (Second Party) signed a negotiated Loan & Investment
Repayment Agreement whereby the Second Party owes the First Party the sum of
₽12,000,000.00, broken down as follows:
1. ₽9,000,000.00 with 6% annual interest and payable on installment at
₽100,000.00 per monthly effective April 1, 2015
2. ₽3,000.000.00 with 2% annual interest and payable on installment at
₽55,000.00 per month effective April 2016.

WHEREAS, through the years, the Second Party had been religiously paying the
monthly amortization of ₽185,000.00 (₽100,000.00 + ₽55,000.00)

WHEREAS, on December 5, 2022, the First Party was called by the Lord for eternal
rest with Him;

WHEREAS, at the time of demise of the First Party, the unpaid balance of the Second
Party to the First Party was as follows
1. ₽_________ out of the ₽9,000,000.00 (interest included)
2. ₽_________ out of the ₽3,000,000.00 (interest included)

WHEREAS, the legal wife of the First Party, Mary Ann Wannan, is desirous to get her
share from the remaining estate of the First Party;

NOW THEREFORE, for and in consideration of the foregoing premises, the parties
agree as follows:
1. That the one-half (1/2) share of the First Party (Mary Ann Wannan), from the
remaining estate of her spouse, Alex Wannan, amounting to ₽1293,773.97 shall
be payable on a monthly installment for two years effective January 2023;
2. That the share of the First Party shall be interest-bearing at six (6%) percent
per annum;
3. That the monthly amortization of the share of the First Party including
interest, shall be ₽57,500.00
4. That the First Party shall receive a lumpsum amortization equivalent to three
months from January to March 2023 amounting to ₽172,500 (₽57,500.00 x 3)

IN WITNESS WHEREOF, the parties have hereinto set their hands this 10 th day of March
2023 in San Fernando City, La Union

MARY ANN WANNAN LUMED HOSPITAL

First Party Second Party

Signed by the presence of: JOSE A. MADAYAG, JR.