PROMISSORY NOTE

PHP. _______________

FOR VALUE RECEIVED, I promise to pay without need of demand to the

order of _________________________, at __________________, the
principal amount of PESOS: _______________________________________
(PHP_____________), on or before _____________. In addition to the
foregoing, I promise to pay monthly interest at the rate of _____________
(_______%) percent, without need of demand, starting from the month of
________________ until this note is fully paid.

___ day of ______________, 20_ _, _____________, Philippines.

__________________________
Maker