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LOAN AGREEMENT

This AGREEMENT is entered into by and between:

______, of legal age and a resident of ________________, hereinafter referred to


as FIRST PARTY;
and

________________________, of legal age and a resident of


________________________________________________________, hereinafter
referred to as the SECOND PARTY, collectively as "PARTIES";

RECITALS

A. The SECOND PARTY manifested her intention to loan from the FIRST PARTY, and the
FIRST PARTY has offered to loan SECOND PARTY monies in the amount stipulated
below to aid the latter in her financial obligations;

B. For and in consideration of the loan to be given by FIRST PARTY to SECOND PARTY,
SECOND PARTY shall comply with the terms and conditions stated below;

NOW THEREFORE, in consideration of the recitals above, and the mutual covenants
contained in this Loan Agreement, and intending to be legally bound, the PARTIES hereby agree
as follows:

1. The Term. This Agreement shall be effective as of _________ 2018, and shall continue
in full force and effect until such time as all of the SECOND PARTY’s monetary
obligations in favor of the FIRST PARTY shall have been paid in full.

2. Amount of Term Loan. The FIRST PARTY agrees to extend to SECOND PARTY a cash
loan in the amount of One Million Pesos (Php 1,000,000.00), hereinafter referred to as
"LOAN", receipt of which is hereby received and acknowledged by the SECOND
PARTY. Acknowledgment receipt is herewith attached as Annex “A”.

3. Interest and other fees. FIRST PARTY shall be entitled to a simple interest of _____ per
annum.

SECOND PARTY shall bear any other fees that may arise as a result of this Agreement,
such as but not limited to documentary stamp taxes.

4. Payment of Loan. The SECOND PARTY agrees and undertakes to pay the principal
loan plus interest in the following manner:

i. Loan is payable for twenty (20) months only from release of the LOAN;
ii. SECOND PARTY shall pay to FIRST PARTY the amount of Fifty Thousand
Pesos (Php 50,000.00) as repayment of principal and Five Thousand Pesos
(Php 5,000.00) as interest.
iii. Loan is payable via check, cash, and/or online bank transfer. Check is
preferred.

5. Security. The Loan from the FIRST PARTY shall be secured through check no.
___________________________________, herewith attached as Annex “B”.
6. Binding Effect. This Agreement shall be binding upon the SECOND PARTY, her
successors-in-interest and permitted assigns and shall inure to the benefit of the FIRST
PARTY, her successors-in-interest and assigns.

7. Counterparts. This Agreement, executed hereafter pursuant to the same, constitutes the
entire understanding between the parties in respect of the matters dealt with therein and
the terms and conditions hereof may only be modified, altered or amended with the prior
written consent of the party of or parties against whom, such modification, alteration, or
amendment shall take effect.

IN WITNESS WHEREOF, the Parties have caused and executed this Agreement on
____________ and at ________________________.

FIRST PARTY: SECOND PARTY:

_________________________ _______________________

Date:__________________
Date:_________________

Witnesses:
_____________________ _____________________
ACKNOWLEDGMENT

REPUBLIC OF THE PHILPPINES)


_________________ ) S.S

BEFORE ME, sworn a Notary Public in and for _____________this ______day of


____________________ personally appeared;

Name Valid ID No. Date & Place of issue


_________________ ____________________ _________________
_________________ ____________________ _________________
_________________ ____________________ _________________

Known to me and to me known to be the same person/s who executed the foregoing instrument
and who acknowledged to me that the same is her/his/their fee and voluntary act and deed,
consisting of Three (3) pages including this page whereon the acknowledgment is written.

WITNESS MY HAND AND SEAL at the date and place first above-written.

Doc No.____
Page No.____
Book No.____
Series 2018.
Annex A

ACKNOWLEDGMENT RECEIPT

This is to acknowledge receipt, this ____ day of ______________, from _______, of legal age,
married, Filipino, and a resident of ____________, the amount of One Million Pesos(Php
1,000,000.00), as loan to me under that Loan Agreement executed on
__________________________ by and between myself and _____________.

_____________ City, Philippines

____________________________
Name over Signature

Witnesses:

_______________________ ___________________________

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