MEMORANDUM OF UNDERTAKING

KNOW ALL MEN BY THESE PRESENTS:

We, the undersigned employees of DUNKIN’ DONUT, with business

address at #15 P. Zamora St., Tacloban City, hereinafter referred to collectively
and exclusively as the FIRST PARTY , and PHILMEN’S CREDIT CORP., duly
organized under and by virtue of the laws of the Philippines, with branch at
Camacho Bldg., J. Luna St., Tacloban City, as represented by its Branch Head
EDEM M. BASMAYOR, of legal age, Filipino, married, and a resident of
Tacloban City, hereinafter referred to as the SECOND PARTY,

WITNESSETH: That---

WHEREAS, the following names exclusively composed the FIRST

PARTY:

1. Evangeline S. Bagares, of legal age, Filipino, married and a resident of

Blk. 11, Lot 14, Regina Hills Subd., Nula-Tula, Tacloban City;

2. Imelda C. Abellanosa, of legal age, Filipino, married and a resident of

Brgy. Tabu, Dulag, Leyte;

3. Precy H. Arce, of legal age, Filipino, married and a resident of

Magallanes St., Tacloban City; and

4. Liezel T. Almendra, of legal age, Filipino, married and a resident of

Palanog, Tacloban City;

WHEREAS, the FIRST PARTY is interested to apply for loan with the
SECOND PARTY, and will comply with the requirements for the approval of the
loan application;

WHEREAS, one in the FIRST PARTY in the person of EVANGELINE S.

BAGARES is the paymaster or General Cashier of Dunkin’ Donuts;

WHEREAS, all the individuals of the FIRST PARTY agreed that upon
approval of their loans with the SECOND PARTY, they shall be remitting their
payments thereafter to the SECOND PARTY thru EVANGELINE S. BAGARES
as their authorized collector;

WHEREAS, EVANGELINE S. BAGARES likewise agreed to the above

arrangement that she shall collect the remittances of all the individuals of the
FIRST PARTY, being their paymaster, with due notice to the management of
Dunkin’ Donuts of aforesaid arrangement; and that EVANGELINE S. BAGARES
shall remit to the SECOND PARTY only the payments of loans that are due and
demandable, until the full payment of the same.

WHEREFORE, the parties hereto shall undertake to comply with the

foregoing agreement as stated hereinabove, as they hereby oblige themselves to
faithfully comply with the terms and conditions stipulated hereinabove within the
duration of the term of the loan contracts of all the individuals of the FIRST
PARTY.
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IN WITNESS WHEREOF, we have hereunto set our hands

this________________ at Tacloban City, Philippines.

PHILMEN’S CREDIT CORP. FIRST PARTY:

Second Party
By:
EVANGELINE S. BAGARES

EDEM M. BASMAYOR
IMELDA C. ABELLANOSA

PRECY H. ARCE

LIEZEL T. ALMENDRA

SIGNED IN THE PRESENCE OF:

___________________ __________________

Republic of the Philippines )

City of Tacloban ) SS

ACKNOWLEDGMENT

BEFORE ME, this _________________ at Tacloban City, personally

appeared:

Competent Evidence of Identity

Evangeline S. Bagares:

Imelda C. Abellanosa:

Precy H. Arce:

Liezel Almendra:

Edem M. Basmayor:

and the second party representing his principal as Branch Manager with full
authority to sign in that capacity, that all of them are the same persons who
executed and voluntarily signed the foregoing MOA which they acknowledged
before me as their own free and voluntary act and deed.

WITNESS MY HAND AND SEAL on the date and place above written.

Doc. No. ___

Page No. ___
Book No. 61
SERIES OF 2011