LOAN AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Loan Agreement is executed this January 20, 2017 by and between the parties:
JOAS MIRANDA SERGIO, of legal age, single and a
resident of No. 87 Clemente 1 Street, Market Site, Donsol,
Sorsogon, hereinafter referred to as the LENDER;
-

and

SPOUSES
HAZELLE
LLAGUNO
GUILLERMO
and
_______________________, both of legal age, married and a
resident of ___________________________________________,
hereinafter referred to as the BORROWER.
-WITNESSETHThe LENDER has sufficient cash to lend to BORROWER, and the latter has
agreed to avail of a loan thereof, subject to the following terms and condition:
NOW THEREFORE, the parties agree as follows:
1.

LENDER shall extend to BORROWER a cash loan in the amount of

___________________________ (P____________.00) Philippine PESO, receipt
of which is hereby acknowledged by the parties on January 20, 2017, and for
which the corresponding promissory note has been issued by the BORROWER,
which is made integral part hereof.

2.

The principal amount shall bear an interest of __________ percent (____%)

monthly, until fully paid, equivalent to ______________________ PESO
(P_____________.00).

3.

The above loan, consisting of the principal and interest thereof, shall be paid
within the period of THREE MONTHS from the date of its execution on NINE
INSTALLMENTS. The payment shall be in accord with the following schedule:
Installment
First
Second
Third
Fourth
Fifth
Sixth

Date
February 10, 2017

Amount Due
P15,000.00

Balance

4.

In case of DEFAULT or when the BORROWER fails to pay the amount due within
the stipulated periods, and without need of demand, the BORROWER shall be
liable to pay a PENALTY OR SURCHARGE equivalent to the rate of five percent
(5%) per month of the total or entire amount of the balance in addition to the
stipulated five percent (5%) monthly interest of the loan, until fully paid.

5.

In case of litigation, the BORROWER shall be liable for all expenses which shall
include, but not limited to, the cost of the suit, attorneys fees and other damages
which the LENDER may be entitled under the law.

6.

The BORROWER agrees to pay for the notarization of this document.

7.

This Agreement constitutes the entire understanding between the parties and
may only be modified, altered or amended only with the prior written consent of
the party of or parties against whom, such modification, alteration, or amendment
shall take effect.

Done this 20th day of January, 2017 at Legazpi City.

IN WITNESS WHEREOF, the parties have executed this Agreement on the date
and place above specified.

JOAS MIRANDA SERGIO

LENDER

HAZELLE LLAGUNO GUILLERMO

BORROWER
___________________________
BORROWER

SIGNED IN THE PRESENCE OF:

________________

___________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
)S.S.
BEFORE ME, this (insert date) in (insert place), personally appeared:
Name

CTC No.

Issued at

Issued on

known to me to be the same persons who executed the foregoing instrument consisting
two (2) pages including this Acknowledgment, and who acknowledged to me that the
same is their voluntary and free act and deed.
IN WITNESS WHEREOF, I set my hand and affix my notarial sea on the date and
place above written.
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of ______.

PROMISSORY NOTE

FOR VALUE RECEIVED, I promise to pay to the order of JOAS MIRANDA SERGIO the
sum of Php 30,000.00 Philippine Currency, on or April 15, 2017 following the THREEMONTH term payment of interest and principal. Should I fail to pay on the due date, I
shall pay another interest, as penalty or surcharge, at the rate of 5% on top of the
STIPULATED monthly interest of 5% and principal amount.
If a case for collection of sum of money is against me, I shall be liable to pay a penalty
and cost of the suit and other expenses.
Executed this 20th day of January 2017 at Oro Site, Legazpi City.

HAZELLE LLAGUNO LLACER

Signature of Maker