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February 10, 2017

DIEGO SILVANO BARROS

KHAYE-ANNE DE GUZMAN
MARIA ANGELYN ENRIQUEZ
JONATHAN REYES
Abecco Incorporated, Los Banos, Laguna

C R E D I T AD VI C E

Dear Abecco Incorporated,

Congratulations!

We are pleased to inform you that our Bank has approved your application for a BUSINESS LOAN, subject to the
following terms and conditions:

1. Loan Purpose : Capital Investment for Manufacturing Plant of Woven Eco Bag

2. Principal Loan Amount : Php 94, 781, 961.00

3. Loan Term : Fifteen (15) years / One Hundred Eighty (180) months

4. Applicable Interest Rate : Initial interest rate is 5.00% per annum;

5. Rate fixing period : Fixed for the first two (2) years and yearly repricing thereafter, based
on BPI Family Savings Banks prevailing interest rate at the
time of repricing.

6. Yearly amortization : Php 22, 698, 001.47for the six (6) payments on a cash basis, a year
after loaning and a delay of four (4) years

7. Maximum Collateral Value : Php 10, 000, 000.00

8. Loan Security : [ ] For FULLY secured loan:

Secured by a first and preferred Real Estate Mortgage over the real
estate property(ies) more particularly described below together with
all improvements existing or that may be erected thereon,
including all fruits and rent, free and clear of all liens and
Encumbrances.

[X] For PARTIALLY secured loan: Partially secured by a first

and preferred Real Estate Mortgage over the real estate
Property(ies) described below together with all improvements
existing or that may be erected thereon, including all fruits and
rent, free and clear of all liens and encumbrances.

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9. Validity of Approval : This approval is valid until April 28, 2017.

10. Other Conditions

11.1 Approval is subject to favorable title verification.

11.2 Late payment penalty is 3% per month from time of default until fully paid

11.3. Processing fee is P 3,500.00 for any change in the terms and conditions of approved loan, once
loan is released

11.4 Payment of yearly amortization, insurance premium and charges shall be debited from enrolled
deposit account

11.5 Mortgage Redemption Insurance (MRI) to cover the loan, is procured from BPI Philam

11.6 Fire Insurance with acts of God coverage is procured from BPI/MS Insurance Corp to over
collateral improvement.

11.7 Earthquake Insurance is procured from BPI/MS Insurance Corp to cover collateral improvement
higher than 3 storeys.

11.8 Completely filled-out application form duly signed by client/s

11.9 Endorsement Letter and Official Computation Sheet

11.10 Copy of NSO - Marriage Contract

11.11 Latest (2016) ITR of Owners

11.12 Original Certificate of No Marriage with OR

We reserve the right to amend the terms & conditions in this advice, including adjustment of the prevailing interest
rate, quoted above, anytime before your final availment.

If you are amenable to the foregoing terms & conditions, please signify your conformity thereto by signing on this
advice and submit it together with the required comments within thirty (30) days from receipt of this advice. We will
assume that you are no longer interested to pursue your loan if we do not hear from you within the aforesaid period.

Upon your request, we have indicated the interest rate prevailing as of the date hereof in the Disclosure Statement
accompanying the Mortgage Loan Agreement (MLA). Please note, however, that the prevailing interest rate initially
indicated in said Disclosure Statement is subject further to resetting and adjustment by the Bank. The applicable
interest rate on the loan shall be that prevailing rate of interest determined by the Bank on drawdown date (the
Applicable Interest Rate), which rate shall be deemed effective and binding on your goodselves upon your final
availment. Said Applicable Interest Rate shall be fixed for __ (__) years and yearly repricing thereafter based on
prevailing interest rate. By signing below, you agree to pay BPI Family Savings Bank the Applicable Interest Rate
set on drawdown date and pursuant thereto you irrevocably authorize, constitute and appoint the Bank as your true
and lawful Attorney-in-Fact with full authority to amend and revise, at its option and without need of notice, the
interest rate initially provided in the Disclosure Statement accompanying the MLA and indicate therein in
substitution thereof the Applicable Interest Rate and all details pertinent thereto without need for your further
authentication of any such changes/corrections or any other act on your part, which revisions the Bank shall perform
on your behalf which you hereby expressly confirm and ratify.

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Please feel free to call your Account Officer, AM Patricia Marie M. Pablo at 218-5918 or your Marketing
Assistant, Lojel P. Suson at 845-6554 for any clarification.

Thank you for choosing BPI FAMILY SAVINGS BANK for your Business Loan requirements.

Sincerely,

BPI FAMILY SAVINGS BANK

By:

_____________________
Ferrando M. Santiago
Senior Manager

CONFORME:

___________________________________________
DIEGO SILVANO BARROS
KHAYE-ANNE DE GUZMAN
MARIA ANGELYN ENRIQUEZ
JONATHAN REYES
Borrowers / Mortgagors

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