31 October 2023

MARIA JACKQUELINE A. TONGOL

Blv Av Lot Sd Sta. Lucia Resettlement, Magalang, Pampanga

Re: DEMAND TO PAY THE UNPAID OBLIGATIONS FOR PHP

3,400,000.00

Dear Ms. Tongol,

Good day.

This notice of demand pertains to your unsettled account/ unpaid obligations to

me. On 20 July 2022, you entered into a Contract of Loan with me for One Million
Five Hundred Thousand Pesos (Php 1,500,000.00). In addition to this amount,
you borrowed Five Hundred Thousand Pesos (Php500,000.00) sometime on 27
July 2022.

Based on our loan agreement, the principal amount shall bear interest at a rate of
Six Percent (6%) compounded monthly and the payment shall be made monthly
in the amount of Ninety Thousand Pesos (Php 90,000.00) beginning on 22 August
22 and to be paid on the 20th day of every month until the balance shall be paid
on December 2022.

According to our records, your total outstanding obligation to me is in the

amount of Three Million Four Hundred Forty Thousand Pesos (Php
3,440,000.00). Attached hereto and Marked as Annex A is the copy of your
Statement of Account.

Moreover, by way of security, you promised to transfer the possession and or

ownership of the Neo-Arena Resto Bar Located at CB Cruz Bldg, Brgy. Anunas
Angeles City. Attached hereto and marked as Annex A is the copy of the Loan
Agreement

However, it appears that you failed to settle any amount and as of this writing,
no payment has been made despite the repeated demands which is to the grave
detriment

Considering the foregoing, let this serve as a FINAL DEMAND LETTER for you
to cooperate and pay the abovementioned obligation. You are given SEVEN (7)
days to fully settle the amount as mentioned above. Kindly reach out to Laica
Gulapa at [09065456564] for the payment of your unpaid obligation.

Please give this matter your immediate and preferential attention to avoid the
inconvenience, expenses, and embarrassment of litigation.
I hope that the matter will be resolved amicably. Otherwise, I shall be constrained
to file the necessary legal action against you to protect our interest, which shall
invariably prove more costly and embarrassing on your part.

Respectfully,

Jung Sangtaek
ANNEX A