LOAN AGREEMENT

______________________________________

KNOW ALL MEN BY THESE PRESENTS:

A contract of loan is herein entered into by and between:

Jenna C. Molina, Filipino Citizen, of legal age, married, with residence and
postal address at #12 Victoria Village, Quezon Hill, Baguio City, hereinafter
referred to as the "LENDER"

-and-

Norman D. Fermin, Filipino Citizen, of legal age, married and postal address
at #420 Military Cut-Off Rd., Baguio City, hereinafter referred to as the
"BORROWER".

WITNESSETH:

The LENDER herein agrees to loan the BORROWER with the sum of
three million two hundred thousand (Php 3,200,000.00), Philippine currency,
and payable within the period of January 1, 2017 to January 1, 2018, under
the following terms and conditions:

A. Loan Payment Terms. The principal loan may be paid either in cash
or check at the end of the 12-month term of said loan agreement.
Payment shall be due on or before January 1, 2018, and shall
continue each month thereafter until the loan balance, including the
principal and accrued interest is paid in full or a demand for full
payment has been made by the lender.

B. Method of Loan Payment. The borrower shall make good of his

obligation to pay under this agreement by personally delivering the
amount required at the address of #12 Victoria Village, Quezon Hill,
Baguio City.

C. Default. The occurrence of any of the following event shall constitute

a default upon the borrower:

1. Borrower failed to pay his obligation, principal and interest,

on the date required by this loan agreement;

2. The borrower becomes insolvent or otherwise unable to pay

his obligation under this contract;

In case of the above circumstance the Lender shall notify the

Borrower that the latter is in default with corresponding notice of the
amount due and demandable.

D. Cure of Default. If the default is due to the failure to timely pay the
obligation herein agreed upon, the borrower shall pay his obligation
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 by making full payment of any principal due and its accrued interest
including the payment of the penalty discussed below.

E. Penalty for Late Payment. An interest of ten percent (10%) per

annum, and a five percent (5%) penalty for delay.

Jenna C. Molina Norman D. Fermin

LENDER BORROWER

SIGNED IN THE PRESENCE OF:

Jenny Thalia N. Herpis Cesar Mon T. Thanos

ACKNOWLEDGEMENT

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Republic of the Philippines )
Baguio City ) S.S

BEFORE ME, a notary for and in Muntinlupa City, personally appeared:

Name ID Number Date/Place Issued

Jenna C. Molina IBP – 2086174 May 7, 2005
Norman D. Fermin PRC – 184729 September 7, 2003

known to me and to me known to be the same persons who executed the

foregoing Legal Instrument and acknowledged to me that the same is their free
and voluntary act and deed.

WITNESS MY HAND AND SEAL, on the date and place first above
written.

JOSE FERNANDO B. MASARATE

Notary Public
Until December 2020
TIN No. 098-765-513
IBP No.098765/ Baguio City
PTR No. 567890/ Baguio City
MCLE Compliance No. 2148210

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