LOAN AGREEMENT

I. PARTIES

This Loan Agreement (“Agreement”) is entered into by and between:

____________ ______________________________, of legal age, Filipino, and with residence and

postal address at _____________________________________, hereinafter referred to as
“Borrower”,

- and -

_________________________________, of legal age, Filipino, and with residence and

postal address at _______________________________________, hereafter called the
“Lender”.

II. EFFECTIVITY

This Agreement is effective _________________________.

III. PERIOD OF LOAN

This loan shall be payable for a period of ____________________, due on or before

____________________.

IV. LOAN AMOUNT

The Borrower promises to pay the Lender the amount of

_______________________________, exclusive of interest, in consonance with the period of
loan stated above.

The Borrower, aside from the payment of interest, hereby agrees to pay an amount in the
rate of ___________________________ calculated based on the principal and in the amount of
____________________________, which shall be paid based on the following schedule:

Month Date Payable Amount Balance

1st Month Interest Deducted immediately upon release of loan
proceeds.
2nd Month December 26, 2023
Interest
____________ 3rd Month Interest January 24, 2024
4th Month Interest February 24, 2024
5th Month Interest March 25, 2024
6th Month Interest April 24, 2024
TOTAL

V. SECURITY

The Borrower hereby ensures the payment of the loaned amount by giving as security his
_________________________________________________________________ to the Lender
and the original document evidencing such collateral is hereto attached as Annex “A” and made
an integral part of this loan agreement.

The Borrower further certifies that he is the sole and beneficial owner of the security
herein given and that such security is in actual possession of the Borrower free from any lien,

Page 1 of 3
 encumbrance or other security interest of any other person or entity. Likewise, the Borrower
shall not, during the existence of this agreement, encumber the security or any part thereof for a
second time or more with any person or entity.

VII. METHOD OF LOAN PAYMENT

The Borrower shall make all payments called for under this loan agreement by cash or
cheque personally served to the Lender not later than the period prescribed under Paragraph III
and Paragraph IV of this contract.

In case that the Borrower shall fail to meet the payment schedule or period prescribed
under Paragraph III and Paragraph IV of this contract, a _______________________penalty per
month based on the late or missed payment, shall be charged until the same has been settled.
Pro-rating of penalty shall be considered.
.
VIII. DEFAULT/ACCELERATION CLAUSE

If the Borrower fails to pay the principal including the interest when due and payable in
accordance with the terms hereof; or with respect to failure to pay any amount other than the
principal or interest, the Lender shall accelerate payment and declare the entire unpaid principal
__________________________________________
amount of the Loan then outstanding, all interest accrued and unpaid thereon and all other
BORROWER
amounts payable hereunder to be forthwith due and payable, whereupon all such amounts shall
become and be forthwith due and payable without presentment, demand, protest or further
notice of any kind, all of which are hereby expressly waived by the Borrower.

Furthermore, the Lender may take such other judicial steps or actions against the
Borrower as the former may deem necessary and proper for the full protection and enforcement
of the Lender’s rights and interests. The foregoing provisions notwithstanding, the Lenders shall
likewise have the right to exercise all other legal rights and remedies which may now or hereafter
be available under Applicable Law.

IX. NON-WAIVER OF RIGHT

No failure or delay on the part of the Lenders in exercising any right, power or remedy
accruing to him upon any breach or default of the Borrower under this Agreement shall impair
any such right, power or remedy nor shall it be construed as a waiver of any breach or default
thereafter occurring, nor shall a waiver of any single breach or default be deemed a waiver of any
other breach or default theretofore or thereafter occurring, nor shall any single or partial exercise
of any such right or power preclude any other or further exercise thereof or the exercise of any
other right or power hereunder. Any waiver, permit, consent or approval of any kind or character
on the part of the Lender of any breach of any provision or condition of this Agreement must be
__________________________________________
in writing and shall be effective only to the extent such writing specifically sets forth. All
LENDER the Lender under this Agreement by law or otherwise shall be cumulative and
remedies afforded
not alternative. No notice to or demand on the Borrower in any case shall entitle it to any other or
further notice or demand in similar or other circumstances.

X. VENUE OF ACTION

The Borrower irrevocably agrees that any legal action, suit or proceeding arising out of or
relating to this Agreement may be instituted in any competent court in
______________________, Republic of the Philippines to the exclusion of other courts.

XI. SEPARABILITY CLAUSE

If any provision or provisions contained in this Agreement or any document executed in

connection herewith shall be declared by any court of competent jurisdiction as invalid, illegal or
unenforceable in any respect under any applicable law, the validity, legality and enforceability of

Page 2 of 3
the remaining provisions contained herein not otherwise so declared shall remain in full force
and effect and shall be enforceable in such manner as may be provided by law.

XII. ASSIGNMENT

This Agreement shall be binding upon and shall be enforceable on the Borrower and the
Lender and their respective successors and assigns, provided that the Borrower shall have no
right to assign or transfer its rights or obligations hereunder without the prior written consent of
the Lender, which approval shall not be unreasonably withheld. An assignment by any Lender of
all or a part of its rights and obligations to any person or entity shall take effect without need of
prior notice to the Borrower.

XIII. MODIFICATION

This agreement may be modified, superseded, or amended only upon the written and
signed agreement of both parties. Further, the physical destruction or loss of this document shall
not be construed as a modification or termination of the agreement contained herein.

IN WITNESS WHEREOF, the parties have set their hands this

_________________________ at ___________________________________.

____________________________ _____________________________
Lender Borrower
ID: _______________________ ID: _________________________
No.: _____________________ No.: ________________________

Signed in the presence of:

___________________________ __________________________

SUBSCRIBED AND SWORN to before me this ________________________ at

_______________________________ parties exhibiting to me their competent proof of identity
written below their name and signature.

WITNESS MY HAND AND SEAL.

Doc. No.: ______

Page No.: ______
Book No. ______
Series of 2023.

Page 3 of 3