ACKNOWLEDGEMENT OF DEBT

Entered into between:

__MAYNARD G. BUGARIN__
(Lender)

And

__FRANCISCA D. LUIS___
(Borrower)

1. Amount of loan

The Lender hereby agrees to lend the sum of _Php 500,000.00_to the Borrower on the terms set out
hereunder.

2. Interest

The Borrower shall be obliged to pay interest at the rate of _1% (Php 5,000.00) per month until the borrowed
amount is paid.

Witness:

1.
(Signature over Printed Name)

2.
(Signature over Printed Name)

Thus done and signed at _Laoag City, Ilocos Norte__on this _15th November, 2022.

MAYNARD G. BUGARIN FRANCISCA D. LUIS

(Signature over Printed Name) (Signature over Printed Name)