September 15, 2018

For value received, the undersigned, AMY SANTIAGO, hereby promises to pay to the order of
CIRILLA RIVIA, the principal sum of Five Hundred Thousand Pesos (Php 500,000.00) pursuant to
the terms and conditions set forth herein.

a. The principal loan obligation shall be payable in ten (10) monthly installments, with each
installment of Fifty Thousand Pesos (Php 50,000.00) payable on the 15th day of the month
following the execution of the promissory note;

b. Each installment shall earn an interest of 2% or One Thousand Pesos (Php 1,000.00), which
shall be paid together with the monthly installment on the 15th day of the month following the
execution of the promissory note;

c. Failure to pay at least one monthly installment, together with its interest, will render the
remaining balance of the loan obligation immediately due and demandable.

All of the foregoing is the promise of the (maker) and shall bind him and his successors, heirs and
assigns.

IN WITNESS WHEREOF, AMY SANTIAGO has executed this Promissory Note as of the day and year
first above written.

(sgd)
AMY SANTIAGO
Borrower