FOR VALUE RECEIVED, from the proceeds of , I/WE hereby promise to pay JOINTLY and SEVERALLY, without the need for notice or demand, ASIALINK FINANCE CORPORATION ("AFC" for brevity) at its office at the SUM of PESOS (Php ) Philippine Currency, together with nominal interest thereon at the rate of % percent per month, until fully paid. I/WE also agree to pay, jointly and severally, a penalty of One Thousand Five Hundred Pesos (Php1,500.00) or 15% of the amount of monthly amortization due, whichever is higher, for every delay or non-payment and an additional 10% monthly interest thereon until fully paid, together with fixed expense charges in the amount of Php300.00 for Metro Manila accounts and Php500.00 for accounts outside Metro Manila.

The occurrence of any or all of the following shall be considered as events of default on the loan covered by this Note, in which cases, the whole sum remaining unpaid under this Note shall thereupon become due and demandable at the option of AFC, without need of prior notice or demand: (a) failure the pay this Note or any installments thereof on its due date; (b) attachment or garnishment of any property, material change in ownership or management, death, dissolution, receivership, insolvency, suspension of usual business, or similar proceedings or any attempt to abscond by any of the undersigned borrowers, their guarantors or sureties, or of the pledgers/assignors/mortgagors of properties securing this Note; (c) diminution or loss of value, whether willful or through fortuitous event, or failure to furnish any of the securities offered or required to secure this Note; (d) any material representation or warranty made by the undersigned in this Note or any other document relative to this Note shown to be incorrect or misleading as determined by AFC; (e) any act or event which, in the opinion of AFC, results in the impairment of the financial responsibility of the undersigned; and (f) failure to comply with the terms and conditions of this Note or any other agreements relative to this Note, or with the requirements of applicable laws or non-submission of documents required by AFC.

I/We also undertake not to use the proceeds of the loan for placement purposes and/or to pay any chargeable and allowable fees in relation to my travel and/or work abroad. Otherwise, AFC shall have the right to rescind the loan and declare all unpaid amortizations immediately due and demandable together with all interests and charges with damages.

In the event that this Note or any installment or interest thereof is not paid upon maturity, or when the same becomes due under any of the provisions hereof, I/We hereby authorize AFC, at its option and without prior notice, to hold, set off or apply to the payment of any amount due under this Note and/or any other obligation that I/We owe to AFC, its subsidiaries or affiliates, any and all monies, securities or other properties belonging to me/us which may be in the possession or under the control of AFC, its subsidiaries or affiliates. For this purpose, I/We hereby irrevocably appoint AFC and any of its authorized agents, upon the happening of any event constituting default, to be my/our attorney-in-fact with authority to negotiate, sell, transfer or otherwise dispose of, by public or private sale, any of my/our property, which may be in the possession of or under the control of AFC, its subsidiaries or affiliates, and to apply the proceeds thereof to the payment of this Note, including penalties and interests that may have accrued thereon. I/We shall, however, remain liable for any deficiency. Further, I/We shall indemnify AFC and hold it free from and/against any loss, damage, cost, charge or expense that AFC may sustain, suffer or incur as a consequence of such default, which sums shall be deemed included as forming part of my/our obligations.

AFC can assign, transfer and convey any or all of its rights and interest over this Note and the collateral, if any, without need of notice.

Any payment made to AFC shall be applied in the following Order of Preference: (a) costs, expenses, penalties, other accounts receivable, out-of-pocket expenses and indemnities due hereunder; (b) interests due on loan; (c) principal amount of the loan then due and payable; and (d) all other obligations to AFC, its subsidiaries or affiliates, of whatever kind and nature as they appear in the records and books of AFC, its subsidiaries or affiliates.

Any partial payment or performance of this Note or any extension hereafter granted will not be considered as a waiver or construed as to alter or vary the conditions of the original obligation, or discharge the same, and such partial payment or performance shall be considered as written acknowledgement of this obligation which shall interrupt any period of prescription.

I/We expressly consent to be bound by any extension of payment and/or renewal of this Note, in whole or in part, which may be granted to anyone or all of us under such terms and conditions indicated herein without need of executing a new or a renewal Note. I/We further agree that any interest that may have been collected in advance or on the original Note cannot be refunded as interest rebates, in the event of a renewal of this Note.

In the event that AFC should refer this note for collection to an attorney for collection, I/WE hereby expressly agree to pay solidarily, twenty-five percent (25%) of the total amount due on this note as attorney’s fees, which in no case shall be less than Five Thousand Pesos (Php5, 000.00), exclusive of all fees and cost allowed by law. I/We furthermore agree to pay AFC a service charge at the highest rate authorized by law at the time of the incurrence of this obligation at the maximum rate allowed by law with respect to such other charges, fines or penalties that the law may hereinafter or from time to time authorize AFC to collect hereon.

Any action arising out of this agreement shall be filed with the proper court of Pasay City or with the proper court of the place where AFC has a branch office at the sole option of AFC to the exclusion of courts in other jurisdictions.

Interest not paid when due shall be computed, added to and form part of the principal amount owing every thirty (30) days, and the same shall bear interest at the same rate of interest indicated herein.

AFC or any lawful holder hereof may accept partial payment and grant renewals or extensions of payments, reserving its right of recourse against any and all of the co-borrowers hereof and each and every endorser hereto.

By virtue of this Note and the assignment of assets to AFC, I/We hereby waive my/our rights under existing laws in relation to confidentiality of accounts and privacy of credit and other data or information and hereby consent and authorize AFC, its subsidiaries or affiliates, to gather, collect, share, report or disclose basic credit data and other information pertaining to me/us or my/our accounts as may be necessary or for AFC to comply with RA 9510 (Credit Information System Act), RA 10173 (Data Privacy Act) and their implementing rules and regulations as well as other pertinent laws and issuances.

Upon full and final settlement of the loan obligation under this Note as determined by AFC, the parties hereto shall be deemed to have mutually, irrevocably, freely and voluntarily released and forever discharged one another from any and all causes of action, claims and demands whatsoever in law or equity, arising, directly or indirectly from this note all of which claims or causes of action by these presents the parties hereby abandon and waive.

I/We hereby affirm that I/We have carefully read and understood the terms and conditions of this Note and I/WE agree to be bound by them, acknowledge receipt of a copy of this Note, and that I/We executed this Note before a solemnizing officer.

_____________________________, Philippines; _______________________.

REPUBLIC OF THE PHILIPPINES)

_____________________________) S.S.

Before Me, a Notary Public for ___________________________, this _____day of _____________ personally appeared:

Known to me and to me known to be same person(s) who executed the foregoing instrument and who acknowledged to me that these are valid acts of their principals and that they are authorized to sign this Contract.

Doc. No. ________;

Page No. ________;

Book No. ________;

Series of ________;

Disbursement Type