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BUSLAW1 - Baluyot Paolo Joshua Q Samson Josh Carlo BUSLAW1...

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Baluyot, Paolo Joshua Q. February 27, 2016 Samson, Josh Carlo BUSLAW1 K91 Uy, Dhenna Emery R. ______________________________________________________________________ KADT Law Offices 470 Boni Avenue Mandaluyong City December 20, 2015 MAMASAN PROPERTIES 6 Aguirre Avenue, BF Homes II Parañaque City M.M. 1718 Philippines Attention: Mr. Dean Ambrose President Subject: Final Contract Gentlemen, OCTANICA Finance Co., Inc. is pleased to inform you of the approval of your request for restructuring the loan in the amount of EIGHTEEN MILLION PESOS (PHP 18,000,000.00) subject to the following terms and conditions: 1) The loan will be extended for another term of five (5) months, 15% per annum interest rate, provided that the debtor will pay a downpayment of THREE MILLION PESOS (PHP 3,000,000.00) and monthly payments of balance with interest. 2.) Failure to comply with the payment terms will be charged a penalty of 5% (of the loan) compounded monthly, for every delayed payment. 3.) The loan proceeds shall be exclusively used as bridge funding for the development of the “Yzyth PROJECT” to be conducted on the parcel of land registered under TCT No. N-9997734 located in New Manila, Quezon City. For this purpose, any
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