LOAN AGREEMENT

1. Parties
This Loan Agreement is made between HONEYLYN NOMBRE DELA CRUZ of ILANG-ILANG ST.
BAGONG SIKAT, GABALDON NUEVA ECIJA, (“the Borrower”), and TENNYSON D. TORRES of Brgy.
Valle Cruz, Cabanatuan, Nueva Ecija (“the Lender”), together known as the "Parties".

2. Date of Agreement:
This Agreement is effective November 2, 2019

3. Period of Loan:
This loan shall endure for a period of 3 (three) months calculated from the Date of Agreement.

3. Loan Amount:
The Borrower promises to pay to the Lender the loaned amount of Php20,000.00 (twenty thousand
pesos) at the end of the loan period and Interest outlined below.
Interest:
The Borrower shall be obliged to pay a monthly interest rate of 5 (five) percent (%) amounting to
Php1,000.00 (one thousand pesos) every 2nd of the month for a period of 3 months.

5. Currency:
Any reference to "Pesos" or “Php” is a reference to the lawful currency of the Philippines.

6. Payments:
All payments due from the Borrower to the Lender under this Agreement will be made by cash payment to
TENNYSON D. TORRES and the "Acknowledgement of Payment Received" must be signed at the
bottom of this agreement upon receipt of payment.

7. Entire Agreement:
The parties confirm that this contract contains the full terms of their agreement and that no addition to or
variation of the contract shall be of any force and effect unless done in writing and signed by both parties.

Executed by both Parties on the 2nd day of November 2019.

Tennyson De Leon Torres ________________________________

Lender Borrower’s Signature over Printed Name

_________________________________
Witness

Acknowledgement of Payment Received

AMOUNT DUE DUE DATE AMOUNT PAID DATE PAID RECEIVED BY

P1,000.00 December 2, 2019

P1,000.00 January 2, 2019

P21,000.00 February 2, 2019