CONTRACT OF LOAN

This Contract of Loan is made and entered into on this _____ day of July 2023, by and
between:

________________ a corporation organized and existing under the laws of the Republic of
the Philippines with office address at No. ___________________________________ represented in
this instrument by its President, ______________________________, hereinafter referred to as the
“LENDER”;

-and-

___________________, of legal age, _______, Filipino and a resident of

______________________________-, hereinafter referred to as the “BORROWER”.

RECITALS

WHEREAS, the BORROWER seek for a loan to the LENDER in the amount of _____
T_____________________(Php_________________);

WHEREAS, the LENDER, after a thorough evaluation of the BORROWER’s loan, found the
same to be in order, valid and responsive with its needs under the accepts;

NOW, THEREFORE, for and in consideration of the foregoing premises and the mutual
covenants of the parties, hereto agree as follows:

1. Loan. The principal amount of the loan shall be ____________________ (Php__________)

which shall be released by the LENDER TO BORROWER simultaneous to the signing of this
agreement;

2. Interest. The loan shall be subject to interest at the rate of _____PERCENT (____%) per
month of the principal loan amount for _________ (____) months.

3. Payment. Simultaneous to the signing of this agreement the BORROWER agreed to pay
through cash deposits to _______________. with the following payment schedule:

DUE DATE AMOUNT DUE DATE AMOUNT

Total Php

The said amount must be deposited to _________________________’s bank account based

on the due date indicated above. The bank details to which the amount should be deposited
are as follows:

Bank: _________________
Account Type: ___________________
Account Number: _________________

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4. Terms. The loan payment shall commence on _____________ and continuing until
___________________ with the balance of any due on such date.

5. Defaults. In case of payment defaults for any reason, prior to the completion of repayment, the
BORROWER further agrees that the remaining loan balance and the interests thereof shall be due
and demandable.

6. Confidentiality. Neither party may discuss or disclose any information, or originate any
publicity, news release, or other public announcement, written or oral, whether to the public press,
stockholders, or otherwise, regarding the terms and conditions of this Contract of Loan, or the
performance by either party of its obligations under this agreement.

7. Settlement of Disputes.

a. The Parties manifest that they would first meet, confer and sit down together for the
purpose of exploring all avenues and/or possibilities of amicably setting whatever
differences, disputes and/ or controversies that may arise in connection with any of the
terms and conditions of this Contract of Loan before resorting to any legal action;

b. If the parties fall to amicably settle their differences, disputes, and/or controversies, the
parties waiving for this purpose any other venue, hereby agree that the courts of
exercising jurisdiction over Cainta, Rizal shall be the exclusive venue of any and all of
its actions or suits against each other, to the exclusion of all other courts and venues.
This exclusive venue provision shall apply even in cases arising for declaration of
nullity of this Contract of Loan in its entirety or in part and in cases arising after or by
reason of the declaration of nullity of this contract in its entirety or in part;

c. In the event a judicial relief against the guilty party is filed before the regular courts,
for the enforcement of the terms and conditions in the contract, the guilty party, in
addition to any other damages that may be awarded by the court, agrees to pay ten
percent (10%) of the amount claimed but in no case less than Twenty Thousand Pesos
(Php 20,000.00) as attorney's fees, aside from the cost of litigation and other expenses
which the law entitles the aggrieved party to recover.

7. Notices. All notices required under this contract shall be in writing and will be sent to the given
address of the parties.

8. Waiver.

d. This Contract of Loan constitutes the entire agreement between the parties pertaining
to the subject matter contained in it, and supersedes all prior and contemporaneous
agreements, representations’, warranties and undertaking of the parties. No
supplement, variation or amendment of this agreement shall be binding unless
executed in writing by both parties. No waiver of any of the provision of this contract
shall be deemed, or shall constitute, a waiver of any other provision, whether similar
or not similar, nor shall any waiver constitute a continuing waiver. No waiver shall be
binding unless in writing and signed by the party making the waiver;

e. The failure or delay on the part of a party to insist upon a strict performance of any of
the term, condition and covenant hereof, or to exercise any of its right under this
Contract of Loan, including its right to terminate this contract, shall not be deemed a
relinquishment or waiver of the enforcement of any right or remedy that said party may
have nor shall it be construed as a waiver of any subsequent breach or default of the
terms, conditions and covenant herein contained, which shall be deemed in full force
and effect;

f. All rights or remedies conferred upon or reserved to a party under this Contract of Loan
shall be deemed cumulative and not alternative or exclusive. Any other right or remedy

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 granted hereunder or hereafter existing at law or in equity may be enforced
concurrently herewith from time to time.

9. This Agreement shall be binding upon and inure to the benefit of the parties and their
respective successors and permitted assigns. Neither party may assign any of its rights or obligations
under this Agreement to any individual or entity without the express written consent of the other party.

IN WITNESS WHEREOF, this Contract of Loan was signed by the Parties this ______ day of
________________ 2023 in _____________________.

By:

_____________________ ________________________
Lender Borrower

Signed in the presence of:

___________________________ __________________________

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 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

) S. S.

BEFORE ME, a Notary Public for and in the above-jurisdiction personally appeared the following
persons with their Identification Number opposite their respective names to wit:

Govt. ID Issued at/by

Known to me and to me known to be the same persons who executed the foregoing instrument and
acknowledged to me that the same are their free act and voluntary deed.

This instrument, consisting of four (4) pages, including the page on which this acknowledgment is
written, has been signed on the left margin of each and every page thereof by the concerned parties and their
witnesses, and sealed with my notarial seal.

WITNESS MY HAND AND SEAL this ______day of ____________ 2023.

Doc. No. ______

Page No. ______
Book No.______
Series of 2023

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