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ANNEX “A” PROMISSORY NOTE FOR VALUE RECEIVED, the undersigned Maker, promises to pay to the order of , (hereinafter referred to as "Payee" Payee together with any subsequent holder hereof or any interest herein being hereinafter referred to as "Holder") at , or at such other place as the Holder may from time to time designate in writing, without grace, except as may be otherwise expressly provided for herein, the principal sum of PESOS (Php), together with interest from the date hereof at a rate of twelve percent (12) per annum on the unpaid principal balance from time to time outstanding in accordance with the following provisions: (a) Commencing 20, and on the day of each and every month thereafter until , 20, the undersigned shall pay to Holder equal installments of PESOS (Php), including principal and accrued interest on the unpaid principal balance..
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