BOTTOMRY LOAN

KNOW ALL MEN BY THESE PRESENTS:

This AGREEMENT made and executed in______________ this _______ day of

_________________________by and between _________________________________, of age,
married, residing at _________________________________, hereinafter called the LENDER,
and _________________________, of age, married, residing at _________________________,
hereinafter called the BORROWER.

WITNESSETH:

1. That the BORROWER is the registered owner of vessel ________________

(here state the kind, name, and registry of the vessel)',
2. That said vessel is captained by _____________________ (here state name,
surname, and domicile of the captain)',
3. That the BORROWER has obtained from the LENDER the sum of
_________________ PESOS (here state the amount of the loan and the premium or interest
stipulated)',
4. That the said loan is secured by the above-mentioned vessel;
5. That the condition of this loan is such that its repayment and its premium or
interest shall depend on the safe arrival of said vessel at the port of destination, to wit:
_______________ (here state the port of destination)',
6. That the period of the risk covered by this agreement shall commence from the
moment said vessel sails from the port of __________________ on or about
_______________________ until she drops anchor in the port of
__________________________;
7. That all the rights and actions of the LENDER shall be extinguished upon the
absolute loss of the said vessel within the period herein agreed, if said loss arises from marine
perils;
8. That all other points not specifically agreed herein shall, unless in conflict
herewith, be governed by the provisions of the Code of Commerce.

_______________________ _______________________
(Signature of Lender) (Signature of Borrower)

WITNESSES:
_______________________ _______________________

ACKNOWLEDGMENT