Gino Alejandro J.

Sison
11981539 Legal Forms G01

February 8, 2023

Spouses Pedro and Edna Reyes

#34 Maginhawa St., Teacher’s Village
Quezon City

Mr. and Mrs. Reyes,

This letter has been issued to you on behalf of my client, Mr. Jaime Chua of 115th
Street, New Manila, Quezon City.

The concern is due a loan agreement you entered into with my client for the amount
of Six Hundred Thousand Pesos (PhP 600,000.00) on August 15, 2020. The agreement was
for repayment in equal monthly installments on the 15th day of every month for the period
of two (2) years, beginning October 15, 2020 until September 15, 2022. The agreement also
provides for the payment of interest of one percent (1%) per month on such loan of money.

However, the amortizations and interest for the months of June, July and August
2022 went unpaid. On September 1, 2022, you (Pedro Reyes) came to see my client, and
assured him that you would honor your obligations under the loan agreement - specifically
the unpaid amortizations and interest for the months of June, July and August 2022 under
the contract. This assurance came in the form of a postdated check in the amount of Ninety
Three Thousand Pesos (PhP 93,000.00) with the following details:

Bank BDO Unibank Katipunan Quezon City Branch

Account Name Pedro and Edna Reyes

Account 123-978-000
Number

Cheque 012345
Number

Amount PhP 93,000.00

Date Payable September 15, 2022

Payee Jaime Chua

My client deposited the check on the date it became payable (September 15, 2022)
but such check was subsequently dishonored on September 18, 2022 for insufficiency of
funds. Furthermore, you also defaulted on the last monthly payment under the loan
agreement for September 2022. Despite subsequent messages informing you of such
dishonor, no further action or correspondence has been taken on your end.

This letter serves as a final and formal letter of demand, seeking payment in
full of the amount of One Hundred Twenty Four Thousand Pesos (PhP 124,000.00),
consisting of the four unpaid amortizations and their corresponding interest under the loan
agreement by February 15, 2023. If you fail to comply by the given date, my client shall
pursue legal action.

Respectfully,
Gino Alejandro Sison
Counsel
Roll #: 11981