Form No. 5--Promissory Note Simple Form with Interest

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(Promissory Note Simple Form with Interest)

PROMISSORY NOTE

P_____________

FOR VALUE RECEIVED, I promise to pay without need of demand to the order of __Payee__, at his office at _____________, the principal amount of PESOS: __________________________ (P_____________), on or before _____________. In addition to the foregoing, I promise to pay monthly interest at the rate of _____________ (_______%) percent, without need of demand, starting from the month of _____________ until this note is fully paid.

__Date__, _____________, Philippines.

Maker