LOAN LO AN AGREEMENT AGREEME NT LOAN AN AGREEMENT AGREEME NT, made and entered into by and between: This LO
______________, ______________, Filipino, of legal age, married married and with residence residence address at (address), hereinafter referred to as the “BORRO!R", #and# ____________, ____________, Filipino, of legal age, and with o$ce address address at (%oor), (%oor), ________ ____________ ________ _______ _______ ________ _____, _, hereina hereinafter fter referr referred ed to as the “&!'!R": R!*T+& The Borrower Borrower and the &ender &ender ha-e agreed agreed that, that, .pon and s.b/ect s.b/ect to the terms and conditions contained herein, the &ender has agreed to lend lend to the Borro Borrower wer the princ princip ipal al amo. amo.nt nt of Fo.r 0illi 0illion on 1esos esos (1 2,333,333433)5 'O, T6!R!FOR!, the parties hereto agree as follows: +7R!!0!'T +rticl +rticle e 84 Loan: The &ender has agreed to ad-ance the s.m of Fo.r 0illion 1esos (1 2,333,333433) by way of loan to the Borrower .pon and s.b/ect to the conditions contained in this &oan +greement4 Repa paym ymen entt of Lo Loan an:: The principal +rti +rticl cle e 94 Re principal amo.nt of the loan together with accr.ed interest shall be repayable within si (;) months from the date of the signing of this +greement4
The 4 Interest: The loan shall bear interest at the rate of 9? per month payable monthly commencing from the day after the signing of this +greement4 +rticle +rticle 24 Security: The payment of the loan will be sec.red by a real estate mortgage co-ering a parcel of land sit.ated in __________ with an area of ________________ d.ly registered in the name of the Borrower4 The Borrower Borrower shall not, witho.t the written consent of the &ender, &ender, create in any manner any charge, lien or other enc.mbrance on the sec.rity gi-en to the latter or create any interest in s.ch sec.rity in fa-or of any other party or person4 +rticle @4 Prepayment: The Borrower has the right to maAe payment, in f.ll or the remaining balance thereof, by ser-ing a written notice to the &ender at any time before the mat.rity date of the loan4 +rticle ;4 Conditions: The Borrower Borrower shall settle the principal amo.nt of the loan, together with its accr.ed interest, within si (;) months from the date of the signing of this +greement4 *n the e-ent that the Borro Borrower wer failed failed to settle settle the the princ principa ipall amo.n amo.ntt of the the loan loan pl.s pl.s 9? inter interest est there thereof of .pon .pon mat.r mat.rity ity,, the &end &ender er shall shall appr approp opria riate te the the sec.rity gi-en and shall be the ecl.si-e owner of the same4
+rticle @4 Assignai!ity: This +greement, or any interest therein, cannot be assigned, in whole or in part, by either party witho.t the written consent of the other party4 +rticle ;4 Misce!!aneous Pro"isions: +rticle ;438 Non#$ai"er: The fail.re of a party to insist .pon a strict performance of any of the terms and conditions of this +greement shall not relin=.ish any of its rights or remedies it may ha-e against the other4 +rticle ;439 In"a!idity: *f any pro-ision is fo.nd to be -oid or .nenforceable by co.rt, the remaining pro-isions not aected hereof shall in no way be aected or impaired thereby and sho.ld remain -alid and enforceable4 +rticle ;43> $riting: 'o wai-er, alteration or modi Notices: +ny notice, statement, bill, demand or comm.nication to be gi-en here.nder to any of the parties hereto shall be in writing and shall be sent by either party to the other at residence or o$ce address indicated abo-e4 *t may be deli-ered in person or by registered mail, which shall be deemed as s.$cient compliance for any legal p.rpose4 +rticle ;432 &inding e'ect: This +greement shall be -alid and binding between the parties, and their s.ccessors#in#interest and assigns4 *' *T'! 6!R!OF, the parties ha-e here.nto set their hands in _____________ on ______ day of ____________________4
______________________ __________________________ Borrower
&ender
igned in the presence of: ________________________________________ ________________________________________
AC(NO$LE)GMENT
Rep.blic of the 1hilippines 4 )
)
1ersonally appeared before me, a 'otary 1.blic for and in the ity of _________ on ________________________4
'ame ate of *ss.e
1roof of *dentity
________________________ ________________ ________________________ ________________
1lace of *ss.e ______________________ ______________________
Anown to me to be the same person who eec.ted this doc.ment and they acAnowledged to me that it is their -ol.ntary act4 This instr.ment consisting of three (>) pages, incl.ding this, whereon the +cAnowledgement is written, has been signed by the parties and witnesses on each and e-ery page thereof4 *' *T'! 6!R!OF, * ha-e here.nto set my hand, the day, year and place abo-e#written4 oc4 'o4 __________ 1age 'o4 __________ BooA 'o4 __________ eries of 938@4
