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MEMORANDUM OF LOAN AGREEMENT

KNOW ALL MEN BY THESE PRESENTS

This Memorandum of Loan Agreement is made this 6 day of September 2018 at Makati City by and
between:
_________________________________________________, a duly registered company bearing
Department of Trade registration No.___________________, with business address at
_______________________________________, represented herein by its, President
______________________________________, hereinafter referred to as borrower.
-and-
_______________________ a duly registered sole proprietor company bearing Department of Trade no.
_____________, with business address at _____________________________________________City,
represented herein by its, President ___________________________, Hereinafter referred to as LENDER.
Withnesseth:
Whereas the BORROWER is in the business of purchasing motor vehicles such as but not limited
to trucks and latter resell them to its clients
Whereas the BORROWER is in need of monies to support its business and requested to LENDER
to accommodate the request of the BORROWER.
Now therefore both BORROWER and LENDER agree on the following:
1. The BORROWER hereby borrows, by way of loan the sum of __________________ in
___________ currency from the LENDER and acknowledges receipt thereof and hereby
incorporated the Promissory Note.
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PROMISSORY NOTE

FOR VALUE RECEIVED, I promise to pay without need of demand to the order of the LENDER at her
office at _____________, _____________ City the principal amount of ___________________, on or
before ________________ 20___.
In addition to the foregoing, I promise to pay monthly interest at the rate of ___% percent, without of
demend, starting from the month of _________ 20___ until this note is fully paid.

ALL TRUCK AND EQUIPMENT

Represented by: President ________________________________

2. The BORROWER hereby declares that the above stated amount shall be exclusively used
for purchasing motor vehicles and trucks.
3. The borrower shall turn-over as collateral original copies of the Land Transportation
Certificates of Registration (CR) and Official Receipts (OR) of the motor vehicles. However due to the fact
that the Land Transportation Office of the Philippines incurs delays in releasing OR/CR to newly purchased
motor vehicles, The BORROWER shall turn-over these documents within 10 days after their release. It is
agreed that these CRs and ORs shall form part of this agreement.

AFFIDAVIT OF GOOD FAITH

The undersigned BORROWER swear that the foregoing collaterals are made and executed for the
purpose of securing the obligation specified therein, and for no other purpose, and that the same is a just
and valid obligation, and one not entered into for the purposes of fraud.

ALL TRUCK AND EQUIPMENT

Represented by: President and CEO ______________________
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4. In addition to these collaterals, the BORROWER shall issue _____ post-dated checks that
are made integral.
5. Warranties and Covenants of Debtor. The BORROWER warrants and covenants that
:a. No other creditor has a security interest in the collateral motor vehicles.
b. The BORROWER is the owner of the collateral free from any adverse lien or encumbrance
c. The BORROWER will depend the collateral against all claims of other persons.
d. The BORROWER will immediately notify the LENDER in writing of any change in name or
address, if applicable.
e. The BORROWER will do all such things as the LENDER at any time or from time to time
may reasonably request to establish and maintain a perfected security in the collateral.
f. The BORROWER will pay the cost of filing this agreement in all public offices where
recording is deemed by LENDER to be necessary or desirable.
g. The BORROWER will not transfer or encumber the collateral without the prior written
consent of LENDER.
h. The BORROWER will keep the collateral insured against rick of loss or damage upon such
terms as LENDER may reasonably require and shall retain the LENDER as beneficiary.
i. The BORROWER will keep the collateral fee from any adverse lien and in good repair, will
not waste or destroy the Collateral, and will not use the Collateral in violation of any law or policy of
insurance. The LENDER may examine and inspect the collateral at any reasonable time.
j. The BORROWER will pay promptly when due all taxes and assessments upon the
collateral or for its use or operation or upon this agreement or upon any note evidencing the
obligations, if applicable. The BORROWER shall not have th right to cause to stop order payment
or re-date, re-issue or cause the post-dated checks to be dishonored.
k. The LENDER may discharge lies placed on the collateral, may place and pay for insurance
on the collateral upon failure by the BORROWER to do so, and May for the maintenance, repair,
and preservation of the collateral. To the extent permitted by applicable law, the BORROWER to
reimburse LENDER on demand for any payment under this authorization.
6. The BORROWER shall be in default under this Agreement upon the occurrence of any of
the following events or conditions: (a) the failure to perform any of the Obligations or this Agreement; (b) the
loss, theft, substantial damage, destruction, transfer or encumbrance of the collateral; (c) the making of any
levy, seizure or attachment upon the collateral; or (d) the filing by BORROWER or by any third party against
BORROWER of any petition under any bankruptcy law, the appointment of a receiver of a receiver of any
part of the property of BORROWER, or any assignment by BORROWER for the benefit of its creditors,
and (e) cause the dishonor, delay, instruct stop order of the post-dated checks.

7. Upon default and at any time thereafter the LENDER may declare all obligations
immediately due and demandable, applying the interest rates prior to the principal amount. In event of a
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court case, the parties agree to the jurisdiction of _______ and ___% of the entire amount due as
attorney’s fees and cost of suit, while the borrower waives all defenses and causes of action against the
LENDER and ____________________.

ALL TRUCK AND EQUIPMENT

President ____________________
BORROWER
TIN NO.
______________________________________
President/ CEO__________________________
LENDER
TIN NO. _______________________________

WITNESSES

_____________________________ _____________________________
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ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES )

__________________, METRO MANILA ) S.S

BEFORE ME, a Notary Public for and in the City of __________________________, Metro Manila,
Philippines, this ______ day of ________________, 20___ personally appeared the following persons.

NAME CTC NO./ GOVT. ID DATED/ PLACE ISSUED

ALL TRUCK AND EQUIPMENT
President and CEO

Company:___________________ TIN NO.:

President and CEO
Name:______________________

All known to me and to me known to be same persons who executed this memorandum of Loan Agreemet
consisting of five (5) pages including the attachment thereof signed by the parties and their witnesses on
which this Acknowledgement is contained and acknowledged that the same is their free act and deed.

IN WITNESS WHEREOF, I have hereunto affixed my notarial seal and signature.

DOC. No. _______________

PAGE No. _______________
BOOK No. _______________
Series of 2019
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DEED OF ACKNOWLEDGEMENT OF DEBT

KNOW ALL MEN BY THESE PRESENTS:

I, _______________________________, of legal age, Filipino and a resident of

____________________________________, owner and proprietress of ALL TRUCK AND EQUIPMENT, a
duly registered sole proprietor company bearing Department of Trade registration
no______________________, with business address at
___________________________________________________ After being duly sworn to in accordance
with law, withnesseth and declare:

That I am indebted in the sum of ______________________________ (P __________________)

Philippine Currency, to ________________, who is also of legal age, (single/ married/ widow), and a
resident of _________________________________________.

That I hereby promise and undertake to pay the said indebtedness unto the said __________
within a period of ________ (_____) ( / / ) from today, in the amount of ________ (P ________)
(monthly/ daily) every ____________ with interest at the rate of _______ (____%) per centum pre
(month/annum) until fully paid.

IN WITNESS WHEREOF, I have hereunto set my hand this ___________ in ____________,

Philippines.

ALL TRUCK AND EQUIPMENT

President
Affiant