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PROMISSORY NOTE
P 500,000
FOR VALUE RECEIVED, We jointly and severally promise to pay
without need of demand to the order of Carmen Carunungan, at her office at Sta. Maria Dist., Pagadian, City the principal amount of PESOS: five hundred thousand (P 500,000), on or before March 1, 2018. In addition to the foregoing, We promise to pay annual interest at the rate of ten (10%) percent, without need of demand, starting from the month of March until this note is fully paid. March 1, 2017, Pagadian City, Philippines.