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    Loan Agreement

    Uploaded by

    Angelica Anne Bayna
    This loan agreement is between a borrower and lender for principal amounts of PHP 25,000 and PHP 35,000. The borrower agrees to repay the principal and 20% interest on set dates, with the option to prepay without penalty. If the borrower defaults, they are responsible for collection costs and legal fees. The agreement also outlines that it can be amended in writing and signed by both parties, successors are bound by the agreement, liability is joint if there is more than one borrower, and notifications must be in writing.

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

    Loan Agreement

    Uploaded by

    Angelica Anne Bayna
    426 views2 pages
    This loan agreement is between a borrower and lender for principal amounts of PHP 25,000 and PHP 35,000. The borrower agrees to repay the principal and 20% interest on set dates, with the option to prepay without penalty. If the borrower defaults, they are responsible for collection costs and legal fees. The agreement also outlines that it can be amended in writing and signed by both parties, successors are bound by the agreement, liability is joint if there is more than one borrower, and notifications must be in writing.

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    Simple Loan Agreement sample

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    This loan agreement is between a borrower and lender for principal amounts of PHP 25,000 and PHP 35,000. The borrower agrees to repay the principal and 20% interest on set dates, with the option to prepay without penalty. If the borrower defaults, they are responsible for collection costs and legal fees. The agreement also outlines that it can be amended in writing and signed by both parties, successors are bound by the agreement, liability is joint if there is more than one borrower, and notifications must be in writing.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    426 views2 pages

    Loan Agreement

    Uploaded by

    Angelica Anne Bayna
    This loan agreement is between a borrower and lender for principal amounts of PHP 25,000 and PHP 35,000. The borrower agrees to repay the principal and 20% interest on set dates, with the option to prepay without penalty. If the borrower defaults, they are responsible for collection costs and legal fees. The agreement also outlines that it can be amended in writing and signed by both parties, successors are bound by the agreement, liability is joint if there is more than one borrower, and notifications must be in writing.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 2

    Loan Agreement

    Dated: June 1, 2018


    TO WHOM IT MAY CONCERN,

    FOR VALUE RECEIVED, the undersigned, _________________________


    (the "Borrower"), located at _______________________, hereby promises to
    pay to the order of ________________________________________,
    (the "Lender"), located at _________________________________, the principal
    sum of ______________________ together with interest on the principal
    balance, and in accordance with the terms set forth below.

    Payment. The principal amount of this Loan together with accrued and unpaid
    interest and all other charges, costs and expenses, is due and payable on or
    before the following dates. All payments under this Agreement are applied first to
    accrued interest and then to the balance of the outstanding principal.

    For the Principal amount of Php 25,000


    June 11, 2018 : 20% interest of the principal amount only
    July 11, 2018 : 20% interest + principal amount

    For the Principal amount of Php 35,000


    July 10, 2018 : 20% interest of the principal amount only
    August 10, 2018 : 20% interest + principal amount

    Prepayment. The Borrower has the right to prepay all or any part of the principal
    amount of this Loan, together with accrued and unpaid interest thereon, at any
    time without prepayment penalty or premium of any kind.

    Costs and Fees. In the event of default, the Borrower shall pay to the Lender all
    costs of collection including reasonable attorney's fees.

    Waiver. The Borrower and all sureties, guarantors and endorsers hereof, waive
    presentment, protest and demand, notice of protest, demand and dishonor and
    nonpayment of this Loan.

    Successors and Assigns. This Loan will inure to the benefit of and be binding
    on the respective successors and permitted assigns of the Borrower. The
    Borrower may not assign its rights or delegate its duties under this Loan without
    the Lender’s prior written consent.

    Joint and Several Liability. If there is more than one Borrower of this Loan, the
    obligation of each Borrower shall be joint and several under this Loan.

    1/2
    Amendment. This Loan may be amended or modified only by a written
    agreement signed by the Borrower and Lender.

    Severability. In the event that any of the provisions of this Loan are held to be
    invalid or unenforceable in whole or in part, the remaining provisions shall not be
    affected and shall continue to be valid and enforceable as though the invalid or
    unenforceable parts had not been included in this Loan.

    Notifications. Any notice or communication under this Loan must be in writing.

    IN WITNESS WHEREOF, the undersigned has executed this Loan Agreement as


    of the date first stated above.

    ________________________________________
    Signature of Borrower

    ________________________________________
    Signature of Lender

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