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    Memorandum of Agreement Sample

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    hannahleatanosorn
    This document is a memorandum of agreement between a lender and borrower. The borrower promises to pay back a principal loan amount of [amount] in equal monthly installments over [time period] at [interest rate] interest per month. The borrower's ATM card and PIN will be used to secure the loan and allow the lender to withdraw the monthly payments directly. The agreement outlines conditions for payment timing and procedures if the ATM card needs replacement. Both parties signed the agreement in the presence of witnesses.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Memorandum of Agreement Sample

    Uploaded by

    hannahleatanosorn
    6K views3 pages
    This document is a memorandum of agreement between a lender and borrower. The borrower promises to pay back a principal loan amount of [amount] in equal monthly installments over [time period] at [interest rate] interest per month. The borrower's ATM card and PIN will be used to secure the loan and allow the lender to withdraw the monthly payments directly. The agreement outlines conditions for payment timing and procedures if the ATM card needs replacement. Both parties signed the agreement in the presence of witnesses.

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    Memorandum of Agreement Sample

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    Memorandum of Agreement sample

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    This document is a memorandum of agreement between a lender and borrower. The borrower promises to pay back a principal loan amount of [amount] in equal monthly installments over [time period] at [interest rate] interest per month. The borrower's ATM card and PIN will be used to secure the loan and allow the lender to withdraw the monthly payments directly. The agreement outlines conditions for payment timing and procedures if the ATM card needs replacement. Both parties signed the agreement in the presence of witnesses.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    6K views3 pages

    Memorandum of Agreement Sample

    Uploaded by

    hannahleatanosorn
    This document is a memorandum of agreement between a lender and borrower. The borrower promises to pay back a principal loan amount of [amount] in equal monthly installments over [time period] at [interest rate] interest per month. The borrower's ATM card and PIN will be used to secure the loan and allow the lender to withdraw the monthly payments directly. The agreement outlines conditions for payment timing and procedures if the ATM card needs replacement. Both parties signed the agreement in the presence of witnesses.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    MEMORANDUM OF AGREEMENT

    KNOWN TO ALL MEN BY THESE PRESENTS:

    This agreement is entered to this day of


    ________________ at Bacolod City, Philippines by and
    between the following persons:

    _________________________, of legal age, married,


    Filipino, and residing at ____________________ with
    principal place of business located at ________________,
    hereinafter referred to as the LENDER;

    -and-

    (Name), (age), (civil status), (nationality), residing


    at (address0, hereinafter referred to as the BORROWER;

    WITNESSETH:

    WHEREAS, for value received the BORROWER promises to


    pay the LENDER the principal amount of
    _________________________ (P______) payable in equal
    monthly installments for a period of _____________(__)
    months with monthly interest on the principal amount at the
    rate of _________(___%) starting on ________________ until
    fully paid subject to the following conditions:

    1. All payments under this Agreement are applied first


    to accrued interest and then to the balance of the
    outstanding principal;

    2. Monthly payments under this agreement shall be done


    on or before the ____th day of the month;

    3. To secure the payment of the loan under this


    agreement, the LENDER shall hold as security the
    Automated Teller Machine (ATM) card of the BORROWER.
    The BORROWER shall authorize the LENDER to withdraw
    from the said ATM card the agreed amount of monthly
    installment with interest, and as such provide the
    LENDER with his/her ATM PIN number. The BORROWER
    likewise promises the LENDER that his/ her account
    for which the said ATM Card was issued shall contain
    sufficient amount to pay the BORROWER’s monthly
    obligation at the agreed date of monthly payment ;

    4. In the event that the BORROWER will be required to


    surrender the ATM Card at the possession of the
    LENDER to the Bank which issued the same for
    replacement of a new one, he/she may retrieve the
    same from the LENDER provided that the BORROWER
    shall give the new ATM Card to the LENDER within
    five (5) days from the time the old and replaced ATM
    Card was received from the LENDER. Failure to do so,
    the LENDER will be constrained to file appropriate
    criminal, civil, and administrative charges against
    you without need of demand.

    IN WITNESS WHEREOF, parties herein affixed their


    signatures on the date and place above written.

    ____________________ ____________________
    Lender Borrower

    Signed in the presence of:

    ____________________ _____________________

    ACKNOWLEDGMENT

    Republic of the Philippines)


    City of Bacolod ) S.S.

    BEFORE ME, this _____ day of ________ 2018 personally


    appeared:

    Name Competent Proof of Identity


    1.
    2.

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


    foregoing instrument and hereby acknowledged to me that the
    same is their free and voluntary act and deed.

    This instrument consisting of three (3) pages, including


    this page on which this acknowledgment is written and has
    been signed by the parties and their witnesses and sealed
    with my notarial seal.

    WITNESS MY HAND AND NOTARIAL SEAL.

    Doc. No. ____


    Page No. ____
    Book No. ____
    Series of 2018.

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