MOOKIMOKMOK LENDING CORPORATION

Polao Tangub City, Misamis Occidental

Tel. No. (088) 564-1505

PROMISSORY NOTE

Tangub City, Philippines

P___________________ _______________, 20___

For value we received, I/We jointly and severally promise to pay the order of MOOKIMOKMOK LENDING
CORPORATION a corporation duly organized according to the laws of the Philippines, with the principal place of
business in Polao Tangub City, Misamis Occidental. The sum of ______________________________ Pesos
(P___________), Philippines currency with interest thereon at the rate of ______ PERCENT (_____ ) per month,
which sum shall be paid in monthly installments payable on or before the _______ day of each month starting from
__________ 20___ until such obligations is fully paid and under the conditions set forth, hereunder, to wit:

CONDITIONS:
1. That for updating purposes loans must be renewed every January or after the fifth payment of the loan whichever is applicable.
2. A) That in the event of the Maker is terminated, separated or transferred from the service of his/her employer outside of the
Province of Misamis Occidental, the Makers outstanding balance shall become due and demandable.
B) That if the amount collected from the Maker are insufficient to cover the Maker’s outstanding obligations and interest not paid
within due shall be added to and become a part of the principal and shall likewise bear interest at the same rate, the Co-Makers
agree to settle the balance of the Loan with MOOKIMOKMOK LENDING CORPORATION.
C) That in the event the Co-Makers are terminated/ separated from the service of their employer the Maker shall submit to
MOOKIMOKMOK LENDING CORPORATION qualified and acceptable replacements of his/her Co-Maker(s) for the loan.
3. That the Maker and the Co-Makers shall be jointly and severally liable to the for the full payment and complete performance of
all obligations of the Maker as provided herein. Accordingly, the MOOKIMOKMOK LENDING CORPORATION may demand
payment and performance of such obligations from any one of them.
4. That the failure to pay any of the installments stipulated in the note shall constitute default with the interest and the entire
amount shall thereby become due and payable without necessity of demand. In this event, the unpaid installments, shall earn
12% interest per annum, computed from the date of default and will pay penalty for the default payment.
5. That acceptance by MOOKIMOKMOK LENDING CORPORATION of any installment or portion thereof after due shall not be
considered as an extension of the period for payment of the loan or as any conditions thereof.
6. That should become necessary to collect this NOTE through an attorney-law-office or Judicial proceeding, the maker(s) of this
NOTE shall be liable to pay an amount equal to 25% of the total amount due and collectible to cover payment of attorney’s fees
and costs of litigation;
7. That the Maker and Co-Maker hereby assign in favor of MOOKIMOKMOK LENDING CORPORATION their salaries,
allowances, bonuses, retirement benefits, separation/gratuity pay, monetary value of their accumulated leave credits and any
monies of benefits (the “Receivables”) due them from their employer commutation/lumpsum/GSIS/SSS or from whatever
source. The liability of the Maker and Co-makers under the assignment shall extend to all renewals and or extension of time
payment of the Loan plus the interests thereon and the penalty imposed, to effectuate the above assignment, the Makers and
Co-Makers irrevocably appoint and constitute MOOKIMOKMOK LENDING CORPORATION as their true and lawful attorney-in-
fact with full power and authority, to apply to use the proceeds of the Receivable in payment of the loan plus interest and
penalties thereon to collect the amounts due hereunder and enforce any checks of other instruments and to file any claims of
institute any proceedings which are necessary to protect the MOOKIMOKMOK LENDING CORPORATION the right under this
assignment.
8. It is also agreed upon that the LANDBANK SALARY ATM/PASSBOOK under the name of the undersign/maker with account
number of ____________ intended for salary of the maker’s company or employee or for pension payment/remittance shall be
used as part of the security of the loan, and shall be return to maker upon the full payment. In the event of declaring loss of it for
the purpose of re-issuance of the new, it shall constitute the bad faith on the part of the makers, without the need of any letter of
demand.
9. In case of litigation, the venue of any action under this NOTE shall be in proper court stationed in Tangub City.
This promissory note is secured by:

___________________________ ________________________ __________________________

Maker Valid ID # Co-Maker

Address: __________________________________ Valid ID#____________________

Approved by BSLC with their Representatives as Witness

Signed in the Presence of:

__________________________________ ________________________________
Witness Witness

SUBSCRIBED AND SWORN TO BEFORE ME, this ___ day of _______________, 20___, affiant exhibiting to me his/her
Community Tax No. __________________ issued on ____________ at _______________________.