Promissory Note

P 15,000,000.00 _________________________
____ day of ___________ 201_

For value received the undersigned promises to pay to the order

PREMIUMLANDS CORP. at its principal office, the sum of PESOS: FIFTEEN
MILLION (P15,000,000.00) Philippine currency, on or before March 31,2019
without interest.

The maker agrees that in the case of an extraordinary inflation or

deflation, or official of unofficial devaluation of the currency stipulated should
supervene, the value of the currency at the time of the establishment of the
obligation shall be the basis
of payment.

DORIS M. JERESANO FRANCIS LLOYD T. CHUA

Maker Payee

SIGNED IN THE PRESENCE OF:

_______________________ _______________________