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    Loan-Agreement (1) JMC Law

    Uploaded by

    Emilio Soriano
    This loan agreement is between Queena as the creditor and Vivi as the debtor. Vivi has requested a loan of 1,000,000 Philippine pesos from Queena, which Queena has agreed to provide. The loan is to be paid back in 10 equal monthly installments of 100,000 pesos each over 10 months, with the first payment due on January 30, 2020. The agreement contains an acceleration clause, where if Vivi fails to make any monthly payment, the full outstanding balance becomes immediately due. The agreement was signed on January 1, 2020 in Davao City and notarized.

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    © All Rights Reserved
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    Loan-Agreement (1) JMC Law

    Uploaded by

    Emilio Soriano
    112 views3 pages
    This loan agreement is between Queena as the creditor and Vivi as the debtor. Vivi has requested a loan of 1,000,000 Philippine pesos from Queena, which Queena has agreed to provide. The loan is to be paid back in 10 equal monthly installments of 100,000 pesos each over 10 months, with the first payment due on January 30, 2020. The agreement contains an acceleration clause, where if Vivi fails to make any monthly payment, the full outstanding balance becomes immediately due. The agreement was signed on January 1, 2020 in Davao City and notarized.

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    Loan-Agreement (1) jmc law

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    This loan agreement is between Queena as the creditor and Vivi as the debtor. Vivi has requested a loan of 1,000,000 Philippine pesos from Queena, which Queena has agreed to provide. The loan is to be paid back in 10 equal monthly installments of 100,000 pesos each over 10 months, with the first payment due on January 30, 2020. The agreement contains an acceleration clause, where if Vivi fails to make any monthly payment, the full outstanding balance becomes immediately due. The agreement was signed on January 1, 2020 in Davao City and notarized.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    112 views3 pages

    Loan-Agreement (1) JMC Law

    Uploaded by

    Emilio Soriano
    This loan agreement is between Queena as the creditor and Vivi as the debtor. Vivi has requested a loan of 1,000,000 Philippine pesos from Queena, which Queena has agreed to provide. The loan is to be paid back in 10 equal monthly installments of 100,000 pesos each over 10 months, with the first payment due on January 30, 2020. The agreement contains an acceleration clause, where if Vivi fails to make any monthly payment, the full outstanding balance becomes immediately due. The agreement was signed on January 1, 2020 in Davao City and notarized.

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    You are on page 1of 3

    LOAN AGREEMENT

    KNOW ALL MEN BY THESE PRESENTS:

    This agreement is entered into this 1 st of January, 2020, at Davao City, Province of
    Davao del Sur Philippines, by and between:

    Queena, Filipino, single, of legal age and with residence 33 Buhangin, Davao City,
    hereinafter referred to as the “Creditor”;

    - and –

    Vivi, Filipino, single, of legal age, and with residence 571 El Rio, Davao City,
    hereinafter referred to as “Debtor”;

    (Each of the Creditor and Debtor may be referred to as a “Party” in the singular
    and “Parties”, collectively)

    WITNESSETH: THAT

    WHEREAS, the Debtor has requested a loan of One Million Philippine Pesos (Php
    1,000,000.00) (the “Loan”) from the Creditor;

    WHEREAS, the Creditor has agreed to extend a loan to the Debtor subject to the
    terms and conditions set forth herein;

    NOW, THEREFORE, for and in consideration of the foregoing premises and of the
    mutual covenants and agreements hereinafter stated, the Parties agree as
    follows:

    1. Loan. The Creditor has extended the Loan to the Debtor, the full amount of
    which is acknowledged to have been received by the Debtor.
    2. Payment. The Debtor shall fully pay the Loan to the Creditor within 10 months
    over TEN (10) equal installments of One Hundred Thousand Philippine Pesos (Php
    100,000.00) payable every 30th day of the month (the “Payment Date”) beginning
    January 30, 2020.
    If the Payment Date would fall on a day which is not a business day, the Loan shall
    be payable on the next succeeding business day.
    3. Acceleration Clause. Should the Debtor fail to pay any of the monthly
    installments, the full outstanding balance shall become due and demandable.

    PARTIES

    Queena Vivi
    Creditor Debtor

    Signed in the presence of:

    Steiner Freya

    ACKNOWLEDGMENT
    REPUBLIC OF THE PHILIPPINES )
    CITY OF DAVAO ) S.S.

    BEFORE ME, a Notary Public for and in the above jurisdiction, this 18st of January,
    2020 personally appeared:
    1. Queena, with the following competent proof of identification: Driver’s
    License with number 824743 which expires on 19 February 2021;
    2. Vivi, with the following competent proof of identification: Philippine
    Passport with number 384768 which expires on 27 October 2022
    To me known and by me known to be the same persons who executed the
    foregoing Loan Agreement and they acknowledged to me that the same is their
    free and voluntary act and deed that of the entity represented, if any, for the uses
    and purposes therein set forth.
    WITNESS MY HAND AND NOTARIAL SEAL at the place and on the date first herein
    above written.

    Doc. No. _____; EMILIO O. SORIANO


    Page No. _____; NOTARY PUBLIC
    Book No. _____; Until Dec. 31, 2022
    Series of 2019. Serial No. 2021-999-9999
    PTR. No. 99999/01-08-21
    Roll of Atty.’s No. 99999
    IBP. Lifetime Roll No. 99999

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