Loan Agreement

LOAN AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
A contract of loan is made and entered into by and between:
_____________________________________, of legal age, Filipino, married and

resident of Purok Bonifacio, Sto. Nino District, Pagadian City, Zamboanga del
Sur, hereinafter referred to as the “CREDITOR”.
-and-
_______________________________________, of legal age, Filipino, married, and

resident of ________________________________________, Zamboanga del Sur,
hereinafter referred to as the “DEBTOR”.
WITNESSETH
The LENDER and the BORROWER have agreed that, upon and subject
to the terms and conditions contained herein, the Lender agrees to lend the
BORROWER the initial amount of Twenty Thousand Pesos (P20,000).
NOW, THEREFORE, the parties hereto agree as follows:
A. That herein Twenty Thousand Pesos (P20,000) is acknowledged as

part of the principal loan amounting to Six Hundred Thousand Pesos
(P600,000.00) initially given as requested by the DEBTOR.
B. That the balance of the loan shall be given to the DEBTOR on or before
_____________________.
C. That upon payment of the entire principal loan amount, the DEBTOR
hereby agrees, as security of the loan, possession and use of a parcel
of agricultural land located at Brgy. Marangan, Dumingag, Zamboanga
del Sur particularly described as follows, to wit:
“A portion of land, more or less, FIFTEEN THOUSAND

(15,000) SQUARE METERS. Bounded by parcels of land
owned by Veronica Mantalaba in the North, Nicanor Saren
in the East, Generoso Varona in the South, and Rolando
Rodrigo in the West.
D. That herein possession and use shall be understood as having the right
to cultivate and exclusively receive all proceeds of the crops planted
therein.
E. That the net market value of the proceeds of the crops harvested
therein shall serve as interest to the principal loan.
Page 1 of 3
F. That the DEBTOR shall in no way take possession of the parcel of land
or the use thereof from the CREDITOR without first paying the full
principal amount which must be on or before
_________________________.
G. That the DEBTOR shall not, without written consent, of the CREDITOR,
create in any manner any charge, lien, or other encumbrance on herein
parcel of land or create any interest in favor of any other third party of
person.
H. That the DEBTOR has the right to make payment, in full or the
remaining balance thereof, by serving a written notice to the
CREDITOR at any time before the maturity date of the loan.
I. That in the event the DEBTOR fails to make a full payment upon
maturity of the principal loan, the CREDITOR shall take possession of
the parcel of land and shall be the exclusive owner thereof.
J. That, however, upon failure of the CREDITOR to provide the balance of

the principal loan to the DEBTOR on or before _________________, the
DEBTOR has the option to rescind this agreement provided that the
P20,000 is paid in full to the CREDITOR within one (1) month from the
lapse of the agreed date in Section B of this agreement.
K. That 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.
L. That an amendment to this Agreement shall be entered into by the

parties upon payment of the full principal loan acknowledging the
same and affirming herein conditions.
M. That failure of a party to insist upon 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.
N. No waiver, alteration or modification of this Agreement is valid unless,

made in writing.
O. This Agreement shall be valid and binding between the parties and
their succession-in-interest and assigns.
IN WITNESS WHEREOF, the parties have hereunto set their hands in

___________________________ on ____ day of ________________.
Page 2 of 3
________________________ _____ ____________________
CREDITOR DEBTOR
Signed in the presence of:
_______________________ _________________________
ACKNOWLEDGEMENT
Republic of the Philippines )

Zamboanga del Sur ) s.s.
BEFORE ME, a notary for and in the Province of Zamboanga del Sur,
personally appeared:
NAME ID/ID NUMBER DATE/PLACE ISSUED

___________________
___________________
known to me and to me known to be the same persons who executed the

foregoing legal instrument and acknowledged to me that the same is their
free and voluntary act and deed.
WITNESS MY HAND AND SEAL, on the date and place first above
written.
Notary Public
Doc. No._______,
Page No._______,
Book No.______,
Series of 2024
Page 3 of 3

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LOAN AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

A contract of loan is made and entered into by and between:

_____________________________________, of legal age, Filipino, married and

_______________________________________, of legal age, Filipino, married, and

NOW, THEREFORE, the parties hereto agree as follows:

A. That herein Twenty Thousand Pesos (P20,000) is acknowledged as

“A portion of land, more or less, FIFTEEN THOUSAND

J. That, however, upon failure of the CREDITOR to provide the balance of

K. That this Agreement, or any interest therein, cannot be assigned, in

L. That an amendment to this Agreement shall be entered into by the

M. That failure of a party to insist upon strict performance of any of the

N. No waiver, alteration or modification of this Agreement is valid unless,

IN WITNESS WHEREOF, the parties have hereunto set their hands in

Signed in the presence of:

Republic of the Philippines )

NAME ID/ID NUMBER DATE/PLACE ISSUED

known to me and to me known to be the same persons who executed the

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