PROMOSSORY NOTE

___________________

For value received I promised to pay to the order of _____________________________

The sum of ___________________ , to be paid in __________installments effective
______________.

Time is declared of the essence hereof and in any event of default of any installment when due,
the entire amount outstanding herein with all its interest and all my other obligations shall
become immediately due and payable without the necessity of notice or demand which I waive.
In any such instance, I authorized _________________ or its authorized representative at its
option without notice, to charge/offset or apply as payment any amount which may be due to
me from the services I rendered. If one co-makers shall sign this note, the liability of such co-
maker is joint and several in respect of the holder hereof. And if this note is place in the hands of
a lawyer for collection, the maker/s and endorser/s shall, in addition, pay _____________% of
the amount due as attorney’s fees which sum shall in all cases not be less than PhP
______________ besides the legal costs and expenses of litigation. Any legal action arising out
of this note shall be instituted in the proper court of jurisdiction.
Holder may accept partial, reserving its rights of recourse against cash and all endorsers who
hereby waive DEMANDS, PRESENTMENT and NOTICE.

Signed:

MAKER
Date: _______________________
Gov’t ID: ___________________
Date/Place Issued _____________

CO-MAKER:

Add. __________________________
Gov’t ID No.______________________
Date/Place Issued____________________