FOR VALUE RECEIVED, I, (Name), of legal age, single, Filipino, with residence at (Address), promise to pay without need of demand to the order of (Name), the amount of PESOS: TEN THOUSAND PESOS (Php10,000.00), on or before (Date) at his residence in (Address).
Should I fail to pay on the due date, a late penalty fee of three percent (3%) per month shall be added on each unpaid installment from due date thereof until fully paid.
Signed this 1st day of October 2021, in Quezon City, Philippines.
JUAN DELA CRUZ
Maker