For End-User Home Financing Program HQP-HLF-086

(V05, 12/2020)

PROMISSORY NOTE
P____________________

For value received, I/w e hereby unconditionally promise to pay jointly and severally, w ithout need of notice or demand, Pag-IBIG Fund or
its assignee/transferee, the sum of ________________________________________________________________________ Pesos
(P__________________), Philippine Currency, including the cost of transfer of title in the amount of _____________________________ Pesos,
(P__________________), Philippine Currency (Include the statement for cost of transfer of title only if the said amount is included in the
loan amount), w ith interest thereon at the rate of _________________ percent (_____%) per annum in _________ monthly amortizations,
together w ith insurance premiums as follow s:

MONTHS INSURANCE PRINCIPAL

MRI/SRI NON-LIFE & INTEREST TOTAL

to commence on the _____________month immediately follow ing loan take-out/final loan release and every month thereafter until the loan shall
have been fully paid. Pag-IBIG Fund shall re-price the interest rate of my/our loan every ________ year/s based on the prevailing market rate in
the Fund’s Full Risk-Based Pricing Framew ork at point of re-pricing. Upon re-pricing, the monthly amortization shall accordingly be adjusted based
on the outstanding balance of the loan at point of re-pricing.

An interim interest of ____ (_____%) per _______ shall also be applied and charged from the initial release of the housing loan until the
final and/or full release of the proceeds, if release of the proceeds of the housing loan is in staggered basis.

An interim interest of ____ (_____%) per _______ shall also be applied and charged from the initial release of the proceeds u ntil the
constructive takeout date, if housing loan account is subject to constructive takeout. (Include this paragraph if the said loan takeout refers to a
home improvement/house construction only).

Notw ithstanding the provision on re-pricing to the contrary, Pag-IBIG Fund or its assignee/transferee, how ever, reserves the right to adjust,
w ithin the limits allow ed by law , or circular issued by the Monetary Board, w ith notice to me/us, the rate of interest on the loan as w ell as all fees
and charges on loans and advances at any time depending on w hatever policy it may adopt in the future during the period of the loan. The
adjusted interest rate shall take effect accordingly.

I/We understand that this note is subject to the terms and conditions of the [Loan and Mortgage Agreement/Loan Agreement/Contract-to-
Sell/Borrow er’s Assignment] dated ________________.

In case I/w e fail to pay the full monthly amortization and/or other loan obligations w hen due, I/w e agree to pay a penalty of one-tw entieth of
one percent (1/20 of 1%) of the amount due for every day of delay until full settlement thereof .

In any event of default as provided for in the [Loan and Mortgage Agreement/Loan Agreement/Contract-to-Sell/Borrow er’s Assignment], the
Noteholder can declare the entire amount of outstanding obligation on the Note including the principal, accrued interests, charges, fees, penalties,
and other obligations of w hatever kind and nature under the [Loan and Mortgage Agreement/Loan Agreement/Contract-to-Sell/Borrow er’s
Assignment] immediately due and demandable; presentment, demand, or other notice of any kind being therein expressly w aived. In such a case,
I/w e shall vacate the premises and surrender possession thereof to the Pag-IBIG Fund or [its assignee/transferee] w ho exercises the right of
cancellation or the right to foreclose the mortgaged property.

If any action is brought to collect this Note, the Noteholder shall further be entitled to collect costs and expenses of the proceedings,
including but not limited to Attorney’s Fees equivalent to at least 25% of total amount due.

I/We agree that any suit arising from this Note shall be filed exclusively w ith the proper courts of (indicate the City of Makati, if NCR; if the
user of this document is the branch, specify place where the concerned Pag-IBIG Fund branch is located).

_________________________________ __________________________________ __________________________________

BORROWER CO-BORROWER CO-BORROWER

_____________ No. ________________ _____________ No. _________________ _____________ No. _________________

Issued on ________________________ Issued on _________________________ Issued on _________________________
Expiry Date _______________________ Expiry Date ________________________ Expiry Date ________________________

With my marital consent:

__________________________________ __________________________________ __________________________________

SPOUSE SPOUSE SPOUSE

INDICATE IF APPLICABLE ONLY

REPRESENT ED BY:

_________________________________ __________________________________ __________________________________

ATTORNEY-IN- FACT OF BORROWER ATTORNEY-IN- FACT OF CO-BORROWER ATTORNEY-IN- FACT OF CO-
AND/OR SPOUSE AND/OR SPOUSE BORROWER AND/OR SPOUSE

_____________ No. ________________ _____________ No. _________________ _____________ No. _________________

Issued on ________________________ Issued on _________________________ Issued on _________________________
Expiry Date _______________________ Expiry Date ________________________ Expiry Date ________________________
 HQP-HLF-086
(V05, 12/2020)

INDICATE IF APPLICABLE ONLY

Conform e:

_________________________________ __________________________________ __________________________________

ACCOMMODATION MORTGAGOR ACCOMMODATION MORTGAGOR ACCOMMODATION MORTGAGOR

_____________ No. ________________ _____________ No. _________________ _____________ No. _________________

Issued on ________________________ Issued on _________________________ Issued on _________________________
Expiry Date _______________________ Expiry Date ________________________ Expiry Date ________________________

REPRESENT ED BY:

_________________________________ __________________________________ __________________________________

ATTORNEY-IN- FACT OF ATTORNEY-IN- FACT OF ATTORNEY-IN- FACT OF
ACCOMMODATION MORTGAGOR ACCOMMODATION MORTGAGOR ACCOMMODATION MORTGAGOR

_____________ No. ________________ _____________ No. _________________ _____________ No. _________________

Issued on ________________________ Issued on _________________________ Issued on _________________________
Expiry Date _______________________ Expiry Date ________________________ Expiry Date ________________________

SIGNED IN THE PRESENCE OF:

__________________________________________ _ _____________________________________

AC KNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES ) S.S.

PROVINCE/CITY OF ____________ )

BEFORE ME, a Notary Public for and in the _____________________, Province of ______________________ this ______ day of
_____________, 20______, personally appeared the above-named persons, w ho have satisfactorily proven to me their identity through their
identifying documents w ritten below their names and signatures, that they are the same persons w ho executed and voluntarily signed the
foregoing instrument, w hich they acknow ledged before me as their free and voluntary act and deed.

The foregoing instrument w hich relates to a Promissory Note consisting of ___ page/s including this Acknow ledgment w hich has been
signed by the parties and the w itnesses.

WITNESS MY HAND AND NOTARIAL SEAL.

NOTARY PUBLIC

Doc. No. _________;

Page No. _________;
Book No._________;
Series of _________.