LOAN AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Agreement is entered into this 02 July 2023, at Anini-y, Province of Antique,
Philippines, by and between:

BON JOVY SEGUNLA, Filipino, single, of legal age, and with address at Anini-y, Antique
hereinafter referred to as the Creditor

- and –

MAE ASENJO, Filipino, married, of legal age, and with address at Anini-y, Antique hereinafter
referred to as the “Debtor”;

WITNESSETH: THAT

WHEREAS, the Debtor has requested a loan of Ten Thousand Philippine Pesos (₱10,000.00)
(the “Loan) from the Creditors;

WHEREAS, the Creditors have agreed to extend a loan to the Debtor subject to the terms and
conditions set forth herein;

NOW, THEREFORE, for and in consideration of the foregoing premises and of the mutual
covenants and agreements hereinafter stated, the Parties agree as follows:

1. Loan. The Creditors have jointly and severally extended the Loan to the Debtor and agree,
upon the terms and conditions hereinafter set forth, to release the said Loan immediately upon
signing of Agreement by both parties.

2. Interest. The Debtor shall pay interest on the Loan at the simple rate of Seven and a half Per
Cent (7.5%) per month on the principal loaned amount. All payments for interest shall be
computed daily on the basis of a 30-day month for the actual days elapsed. Interest shall accrue
from the date of release of the Loan until full payment thereof.

3. Penalty. If the Debtor fails to pay the Loan as it falls due as indicated in this Agreement, the
Debtor shall be subjected to a penalty rate of One Per Cent (1%) of the principal loaned amount
per day.

4. Payment. The Debtor shall pay the Loan and accrued interest to the Creditors on 02 August
2023.

5. Application of Payment. All payments shall be applied first against penalties; then against
interest due on the Loan; then against the principal amount of the Loan then due and payable.

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6. Method of Payment. The Debtor shall make all payments called for under this Loan
Agreement by cash personally served to the Creditor or by electronic banking. Electronic means
to transfer is highly recommended.

7. Taxes and other fees. All documentary stamps due on this Agreement shall be for the
account of the Debtor. All bank charges that may arise during transfer of cash back and forth
and processing fees shall be shouldered by the Debtor.

8. Event of Default. Each of the following shall constitute an Event of Default:

a. Failure of the Debtor to comply with any of the covenants or obligations expressed or
implied in this Agreement;

b. Failure of the Debtor to pay any principal amount or interest when due and payable in
accordance with the terms of this Agreement; or with respect to any amount other that
the principal or interest, failure of the Debtor to pay within three (3) days after the due
date;

c. Insolvency of the Debtor or the inability of the Debtor to pay its debts when due or
commits any act of insolvency;

d. Violation by the Debtor of any law, regulation, judgment, or administrative decision or

decree, including non-payment of taxes, in circumstances where the Creditors
reasonably believe that said violation will have an adverse effect on the Debtor’s ability
to meet its obligations under this Agreement.

9. Consequences of Event of Default. If an Event of Default shall have occurred, the Creditors
may, by notice in writing, require the Debtor to immediately pay the entire Loan any accrued
interest and penalty. Legal claims shall be exercised by the Creditors in the Event of Default.

10. Notices. Any notice or communication sought to be made in relation to this Agreement shall
be in writing or any electronic means. A final Notice of at least three (3) days before the final
due date shall be transmitted to the Debtor.

11. Waiver and Cumulative Rights. Failure or delay of the Creditors in exercising any right,
power, or remedy upon any breach or default of the Debtor under this Agreement shall
thereafter not be construed as a waiver, abandonment or cancellation nor shall it impair any
such right, power, or remedy. Any waiver on the part of the Creditors shall be in writing. All
remedies afforded the Creditors under this Agreement, by law, or otherwise, shall be cumulative
and not alternative.

12. Governing Law. This Agreement and all other document pertaining hereto shall be
governed and construed in accordance with the laws of the Republic of the Philippines.

13. Assignment. This Agreement shall be binding upon and enforceable on the Debtor and the
Creditors and their respective successors and assigns. The Debtor shall not assign or transfer its
rights or obligations hereunder without the prior consent of the Creditors, which consent shall
not be unreasonably withheld.

14. Modification. This agreement may be modified, superseded, or amended only upon the
written and signed agreement of both parties. Further, the physical destruction or loss of this
document shall not be construed as a modification or termination of the agreement contained
herein.

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15. Termination. This Agreement shall take effect as soon as both parties have affixed their
signatures and be terminated once all the payments including its interests and penalties have
been paid.

16. Settlement of Disputes. If any part of this Memorandum of Agreement shall for any
reason be declared invalid and unenforceable, the remaining portion not affected therein shall
remain in full force and effect as if the parties would not have executed this Agreement had they
known the invalidity or unenforceability thereof. If any dispute or difference of any kind
whatsoever shall arise between the Managers, the Investors and Debtors in connection with or
arising out of this Agreement or in Loan Agreements, the parties shall make every effort to
resolve amicably such dispute or difference by mutual consultation. If after thirty (30) days, the
parties have failed to resolve their dispute or difference by such mutual consultation, then
either the Managers or the Investors may give notice to the other party of its intention to
commence arbitration, as hereinafter provided, as to the matter in dispute, and no arbitration in
respect of this matter may be commenced unless such notice is given. Any dispute or difference
in respect of which a notice of intention to commence arbitration has been given in accordance
with this Clause shall be settled by arbitration. In the case of a dispute between the Managers
and the Investors, or with its Debtors, the dispute shall be resolved in accordance with Republic
Act 9285 (“R.A. 9285”), otherwise known as the “Alternative Dispute Resolution Act of 2004.”

IN WITNESS WHEREOF, the parties have set their hands this 02nd July 2023 at Anini-y,
Antique, Philippines.

BON JOVY SEGUNLA

Creditor

MAE ASENJO
Debtor

Signed in the presence of:

JANICE RUBITE
Witness