ANNEX “A”

CONTRACT OF LOAN

KNOW ALL MEN BY THESE PRESENTS:

This Contract is executed by and between:

RESTITUTO Y. LIGO, of legal age, Filipino, single and a resident of No. 143
Lumos Subdivision,Barangay Magugpo, Tagum City., Davao del Norte, Philippines,
hereinafter referred to as CREDITOR; and

DEBT Y. BAYAD, of legal age, Filipino, single and a resident of 44 Salum

Homes, Barangay Doctolero, Tagum City, Davao del Norte, Philippines, hereinafter
referred to as DEBTOR;

W I T N E S S E T H:

That the DEBTOR offers to borrow a sum of money in the amount of THREE
MILLION PESOS (P3,000,000.00) from the CREDITOR and the latter agrees to
lend the said sum of money to the former;

That the herein parties hereby agree to enter into a Contract of Loan under the
following terms and conditions:

1. That the parcel of land registered under the name of the DEBTOR, which is
particularly described below, shall be used as a security for the contract of
loan herein entered into:

TRANSFER CERTIFICATE OF TITLE

NO. T-14344

“A parcel of land lot no. 14353, Pls-22 situated in the barangay of

Magugpo, City of Tagum, Province of Davao Del Norte, Island of
Mindanao, containing an area of ONE THOUSAND THREE HUNDRED
TWENTY EIGHT (1,328) SQUARE METERS.”

2. That the said loan shall mature after six (6) months with 10% interest per
month, until fully paid, which shall commence upon signing hereof without
any interest;

3. That the DEBTOR hereby agrees that the original copy of the certificate of
title of the above-property shall be turned over to the CREDITOR until full
payment has been made;

4. That the amount loaned shall be paid in full with 10% on or before August 14,
2013;

5. That the DEBTOR hereby binds to execute a Special Power of Attorney in

favor of the CREDITOR authorizing the latter to sell the above-described
property and the proceeds thereof shall be primarily paid to the amount of
loan herein provided and any excess, if any, shall be returned to the
DEBTOR, provided however that the above-described property shall not be
sold less than the amount of the THREE MILLION PESOS
(P3,000,000.00).

1
 IN WITNESS WHEREOF, the parties have hereunto set their hands this 14 th of
February at Tagum City, Philippines.

RESTITUTO Y. LIGO DEBT Y. BAYAD

Creditor Debtor
Passport No. 846-322-011 Passport No. 324-362-132

SIGNED IN THE PRESENCE OF:

ELEMIAH DUBHE & SHEKINAH CARUZ

ACKNOWLEDGMENT

Republic of the Philippines)

City of Tagum )ss.
x------------- ---x

BEFORE ME, a Notary Public, for and in the City of Tagum, Province of Davao
del Norte, Philippines, personally appeared the above-named persons with their
respective identities below their signatures above, known to me and to me known to be
the same persons who executed the foregoing instrument and they acknowledged to
me that the same is their own, free, voluntary act and deed.

This Contract of Loan consists of two (2) pages including this page where this
Acknowledgment is written.

WITNESS MY HAND AND SEAL this 14th of February 2013 at Tagumc City,
Philippines.

CASSIOPEIA N. CAMPANERO

Doc. No. 22; Notary Public

Page No. 3 ; Commission Serial No. 143
Book No. 1 ; Until December 31, 2014
Series of 2014. Roll of Attorney 70444
IBP No. 222 -08/21/13-Davao
PTR No. 123-08/30/13-Davao