LOAN AGREEMENT

This LOAN AGREEMENT, made and entered into by and between:

______________, Filipino, of legal age, married and with residence
address at (address), hereinafter referred to as the BORROWER,
-and____________, Filipino, of legal age, and with office address at
(floor), ____________________________, hereinafter referred to as the
LENDER:
RECITALS
The Borrower and the Lender have agreed that, upon and subject
to the terms and conditions contained herein, the Lender has agreed to
lend to the Borrower the principal amount of Four Million Pesos (P
4,000,000.00);
NOW, THEREFORE, the parties hereto agree as follows:
AGREEMENT
Article 1. Loan: The Lender has agreed to advance the sum of Four
Million Pesos (P 4,000,000.00) by way of loan to the Borrower upon and
subject to the conditions contained in this Loan Agreement.
Article 2. Repayment of Loan: The principal amount of the loan
together with accrued interest shall be repayable within six (6) months
from the date of the signing of this Agreement.
The first of such installment shall be paid on or before _________
and the subsequent installments shall be made on or before the same
day of each month thereafter until complete payment.
Article 3. Interest: The loan shall bear interest at the rate of 2% per
month payable monthly commencing from the day after the signing of
this Agreement.
Article 4. Security: The payment of the loan will be secured by a real
estate mortgage covering a parcel of land situated in __________ with
an area of ________________ duly registered in the name of the Borrower.
The Borrower shall not, without the written consent of the Lender,
create in any manner any charge, lien or other encumbrance on the
security given to the latter or create any interest in such security in
favor of any other party or person.
Article 5. Prepayment: The Borrower has the right to make payment,
in full or the remaining balance thereof, by serving a written notice to
the Lender at any time before the maturity date of the loan.
Article 6. Conditions: The Borrower shall settle the principal amount
of the loan, together with its accrued interest, within six (6) months
from the date of the signing of this Agreement. In the event that the
Borrower failed to settle the principal amount of the loan plus 2%
interest thereof upon maturity, the Lender shall appropriate the
security given and shall be the exclusive owner of the same.

Article 5. Assignability: This Agreement, or any interest therein,

cannot be assigned, in whole or in part, by either party without the
written consent of the other party.
Article 6. Miscellaneous Provisions:
Article 6.01 Non-Waiver: The failure of a party to insist upon a strict
performance of any of the terms and conditions of this Agreement shall
not relinquish any of its rights or remedies it may have against the
other.
Article 6.02 Invalidity: If any provision is found to be void or
unenforceable by court, the remaining provisions not affected hereof
shall in no way be affected or impaired thereby and should remain
valid and enforceable.
Article 6.03 Writing: No waiver, alteration or modification of this
Agreement is valid unless made in writing.
Article 6.04 Venue: Any action or claim in connection with or arising
from this Agreement shall only be instituted in any competent courts of
Manila, to the exclusion of all other courts.
Article 6.03 Notices: Any notice, statement, bill, demand or
communication to be given hereunder to any of the parties hereto shall
be in writing and shall be sent by either party to the other at residence
or office address indicated above. It may be delivered in person or by
registered mail, which shall be deemed as sufficient compliance for any
legal purpose.
Article 6.04 Binding effect: This Agreement shall be valid and binding
between the parties, and their successors-in-interest and assigns.
IN WITNESS WHEREOF, the parties have hereunto set their hands
in _____________ on ______ day of ____________________.

______________________
__________________________
Borrower

Lender

Signed in the presence of:

________________________________________
________________________________________

ACKNOWLEDGMENT
Republic of the Philippines
S.S
)

Personally appeared before me, a Notary Public for and in the

City of _________ on ________________________.

Name
Date of Issue

Proof of Identity

________________________
________________
________________________
________________

Place of Issue
______________________
______________________

known to me to be the same person who executed this document and

they acknowledged to me that it is their voluntary act.
This instrument consisting of three (3) pages, including this, whereon
the Acknowledgement is written, has been signed by the parties and
witnesses on each and every page thereof.
IN WITNESS WHEREOF, I have hereunto set my hand, the day, year and
place above-written.
Doc. No. __________
Page No. __________
Book No. __________
Series of 2015.