1 May 2020

PROMISSORY NOTE

FOR VALUE RECEIVED, I, AAA BBB, promise to pay to the order

of ________, the sum of ONE HUNDRED THOUSAND PESOS (Php
100,000.00) on or before 30 May 2020.

In addition to the foregoing, I promise to pay a monthly interest at the

rate of three percent (3%) of the base amount, starting from 30 May 2020 until
this note is paid.

Signed:

AAA BBB
Maker