PROMISSORY NOTE

PHP _____________

FOR VALUE RECEIVED, I promise to pay to the order of

Mr/Mrs/Miss__________________________________________ the sum of
________________________(Amount In Words)______________ (Php _____),
Philippine Currency, on or before at his residence/office at
__________________________________________________. Failure on my
part to comply with this promise on the date aforementioned shall subject the
above principal to interest at the rate of _______% per month and should the
collection be made with the services of a lawyer, then the same shall further be
subject to ____% attorney’s fees. In the event that a case for collection of the
sum of money above stated be filed, the principal shall earn further interest at the
rate of _____________%, plus cost of suit and other expenses

______________, 20____ at __________________, Philippines.