LOAN AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Agreement entered into by and between:

_______________________________________, of legal age, Filipino,

with residence at _________________________________________________
__________________________________________________________________
(hereinafter referred to as the “FIRST PARTY”)
- And –
_______________________________________, of legal age, Filipino, with
residence at _______________________________________________
__________________________________________________________________
(hereinafter referred to as the “SECOND PARTY”).

WITNESSETH; That –

TERMS AND CONDITIONS

1. At the request of the SECOND PARTY, the FIRST PARTY had

Extended a loan to the SECOND PARTY in the principal sum of
PESOS:________________________________________ (P_________________)
(the “LOAN”), the full amount of which is acknowledged to have been
received by the SECOND PARTY. The SECOND PARTY promises to repay
the LOAN to the FIRST PARTY on or before _________________________,
together with interest at __________________ per month on said amount
from date hereof until full payment thereof.

2. In the event that the SECOND PARTY debtor shall fail to pay the
LOAN as it falls due, the unpaid principal and accrued interest thereon shall,
in addition to the stipulated interest, be subject to penalty interest at the
same rate as the stipulated interest commencing on the date immediately
following the due date of the LOAN until full payment of the entire
outstanding amount of the LOAN.

3. In the event of default, SECOND PARTY shall pay to the FIRST

PARTY all costs of collection, including reasonable attorney’s fees.
 4. The FIRST PARTY or his representative or agent shall send a
demand letter to the SECOND PARTY either through text message, e-mail,
registered mail, or private message in any social media network. Any
message/s sent through any of the aforementioned medium shall be
considered as an extrajudicial demand.

5. Any and all cases arising from the enforcement of this LOAN
AGREEMENT shall be prosecuted or filed ONLY in the proper court in
MANDALUYONG CITY, to the EXCLUSION OF ALL OTHER COURTS.

IN WITNESS WHEREOF, the parties hereto have caused these presents to

be executed on the date and at the place first above set forth.

By:

___________________________ ___________________________
(FIRST PARTY) (SECOND PARTY)

IN THE PRESENCE OF:

___________________________ ___________________________
WITNESS WITNESS
 ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES )
____________________________ ) S.S.

BEFORE ME this day personally appeared:

Name I.D. Date/Place of Issue

1.
2.
3.
4.
To me known and known to me to be the persons who signed and executed
the foregoing Agreement and each acknowledged to me that the same is
executed as his free and voluntary act and deed and that of the entity
represented, if any, for the uses and purposes therein set forth.

IN WITNESS WHEREOF, I have hereunto affixed my signature and notarial

seal in _________________________, this ____________________________

NOTARY PUBLIC

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