ILIGAN CITY EAST NATIONAL HIGH SCHOOL

TEACHERS MULTIPURPOSE COOPERATIVE

Sta. Filomena, Iligan City
Registration No.: 9520-10020106
Tel. No.: 063-225-1507
Email: icenhscoop@yahoo.com
Date Filed: _________________ Control No.: ___________
MEMBER LOAN APPLICATION FORM
NAME: _________________________________ Type of Loan: Regular Short Term Loan
Position: ________________________________ Applied Amount: ________________________________
Net Take Home Pay: ______________________ Term of Loan: __________________________________
Purpose of Loan: _________________________ Contact Number: ________________________________
LOAN COMPUTATION CREDIT COMMITTEE ACTION
Amount of Loan Granted: Php _________
Less:
Service Charge (1%) Php ________ Approved Disapproved
Insurance Fee: Php ________
Notarial Fee: Php ________ Reasons: ____________________________________
Outstanding Balance Php ________
First Installment Php ________ __________
Date Granted: _________ Maturity Date: __________
Net Proceeds: Php__________

Monthly Amortization: ______________ Diwani D. Oracion Fe B. Reponte

Chairman Treasurer
Prepared by: Susan Y. Cabahug

LOAN AGREEMENT TERMS AND CONDITIONS

In consideration of the loan in the amount of
________________________________ (Php ______________).
I/applicant promise to pay the amount to ICENHS-TMPC in
accordance with terms and conditions hereof which I/applicant
have read and understood clearly and to which I hereby bind-
myself.
In case of defaults, I voluntarily assign all my deposits,
dividends, patronage refunds accruing to me to satisfy the
obligation without any verbal or written demand from ICENHS-
TMPC.
1. A one-time service charge (1%) will be deducted based on the gross amount of loan
approved from the net proceeds.
2. An insurance coverage of _____, that covers the whole duration of loan term.
3. Upon failure to pay the monthly amortization, the borrower must pay ICENHS-TMPC the
unpaid amortization on the next payment schedule, in addition to the current month’s
amortization plus a surcharge equal to the current interest rate of the loan based on the
unpaid amortization.
4. I will not withdraw my deposits with the ICENHS-TMPC unless the loan balance shall be
reduced to an amount less than my shares and/or deposits.
5. In case of default, I authorized the manager of the cooperative to apply our deposits
and/or shares against my loan obligation.
6. I AGREE that all legal actions arising from this instrument shall be filed in the proper
court of Iligan City, Philippines.

I also authorize ICENHS –TMPC to set-off or apply any

deposit in the Cooperative in my account as payment to my loan Signature of Applicant over Printed Name
without need for prior notice or approval from me.

PROMISSORY NOTE

PN No.: _________________________ this note, if any, the consent therein granted is recognized and acknowledged by
me/us as a waiver to all intents and purposes of whatever right I/We hereby have
to notice of actual encumbrance or assignment.

Date Granted: ______________ Maturity Date: ________________
For the amount received, I promise to pay the total amount of ____
___________________________________ (Php ____________) payable in
monthly installment of Php ______________________ starting on _________
In case of default in the agreed payment schedule and/or any deviation
from the purpose of the loan proceeds, the ICENHS-TMPC is unconditionally
entitled to declare all unpaid balance of the note immediately due and payable.
Notice of dishonor is expressly waived.
In such case I agree to pay additional amount equivalent to ____
PERCENT per day and demandable as penalty and collection charges in the
form of liquidated damages until fully paid and ten (10%) thereof or 1,000.00
whichever is higher for Attorney’s fee whether actually incurred or not, exclusive
of costs and judicial/extrajudicial expenses.

__________________ until the entire obligation shall be fully paid.
I/We hereby agree and authorized ICENHS-TMPC to encumber, assign
or sell to any person or entity any right which may have under this note and/or
any assignment, mortgage, lien, pledge, or other encumbrances constituted in
favor of ICENHS-TMPC, pursuant to the provision of the loan agreement and
WITNESS:
I AGREE that any action arising in connection or by reason of this Note
shall be filed exclusively with the courts.
I hereby affix my signature at ICENHSTMPC Office, Sta. Filomena, Iligan
City Philippines on ____________________.
___________________________________
Signature of Applicant over Printed Name

_________________________ ________________________
Signature Over Printed Name Signature Over Printed Name

ACKNOWLEDGMENT
Republic of the Philippines
Iligan City) S.S.

BEFORE ME, a Notary Public, for the City of Iligan personally appeared on this ____day of _________, 2017 the following person
known to me to be same persons who executed the foregoing Promissory Note and acknowledged to me that they executed and further
acknowledged that the instrument is their free and voluntary act and deed and of the entities they respectively represent.

NAME RESIDENCE CERTIFICATE NO. DATE/PLACE ISSUED

1. ______________________________________ ___________________________ _____________________________

2. ______________________________________ ___________________________ _____________________________

WITNESS MY HAND AND SEAL on the date place above written NOTARY PUBLIC
Doc No.: ________________
Page No.: _______________
Book No.: _______________
Series of ________________