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    Loan Agreement Sample

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    Nicole Santoalla
    This document is a loan agreement between Arturito C. Roman as the lender and Sergio C. Marquina as the borrower. The lender agrees to loan the borrower P600,000 payable in monthly installments of P10,000 from May 15, 2020 to March 15, 2021. The agreement outlines payment terms, methods, penalties for late payment, and what constitutes default of the loan.

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    © All Rights Reserved
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    Loan Agreement Sample

    Uploaded by

    Nicole Santoalla
    13K views3 pages
    This document is a loan agreement between Arturito C. Roman as the lender and Sergio C. Marquina as the borrower. The lender agrees to loan the borrower P600,000 payable in monthly installments of P10,000 from May 15, 2020 to March 15, 2021. The agreement outlines payment terms, methods, penalties for late payment, and what constitutes default of the loan.

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    © © All Rights Reserved

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    This document is a loan agreement between Arturito C. Roman as the lender and Sergio C. Marquina as the borrower. The lender agrees to loan the borrower P600,000 payable in monthly installments of P10,000 from May 15, 2020 to March 15, 2021. The agreement outlines payment terms, methods, penalties for late payment, and what constitutes default of the loan.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    13K views3 pages

    Loan Agreement Sample

    Uploaded by

    Nicole Santoalla
    This document is a loan agreement between Arturito C. Roman as the lender and Sergio C. Marquina as the borrower. The lender agrees to loan the borrower P600,000 payable in monthly installments of P10,000 from May 15, 2020 to March 15, 2021. The agreement outlines payment terms, methods, penalties for late payment, and what constitutes default of the loan.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
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    At a glance
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    The key takeaways are that Arturito C. Roman has agreed to loan Sergio C. Marquina P600,000 payable in monthly installments of P10,000 from May 15, 2020 to March 15, 2021 under the terms specified in the loan agreement.

    Sergio C. Marquina must pay Arturito C. Roman P10,000 every 15th day of the month starting from the execution of the agreement until the full balance including principal and interest is paid. Payment is to be made in person at the lender's address.

    A default occurs if Sergio C. Marquina fails to pay for 6 months or becomes insolvent and unable to pay his obligations under the contract.

    LOAN AGREEMENT

    KNOW ALL MEN BY THESE PRESENTS:

    A contract of loan is herein entered into by and between:

    ARTURITO C. ROMAN Filipino Citizen, of legal age,


    single, with residence and postal address at Phase 2, Block
    12, Country Homes, Cabantian, Davao City, hereinafter
    referred to as the "LENDER";

    - and -
     
    SERGIO C. MARQUINA, Filipino Citizen, of legal age,
    married to Racquel M. Marquina with residence and postal
    address Lot 6, Block 29, Phase 3, Kalasag Street, Davao City,
    hereinafter referred to as the "BORROWER".

    WITNESSETH:

    The LENDER herein agrees to loan the BORROWER with the sum of
    Six Hundred Thousand (P600,000), Philippine currency, and payable
    within the period of May 15, 2020-March 15, 2021, under the following
    terms and conditions:

    A. Loan Payment Terms. The borrower shall a sum of $10,000 to the


    lender for every month of the loan agreed upon. Payment shall be
    due every 15th day of the month starting in the month following
    the execution of this agreement and shall continue each month
    thereafter until the loan balance, including the principal and
    accrued interest is paid in full or a demand for full payment has
    been made by the lender.

    B. Method of Loan Payment. The borrower shall make good of his


    obligation to pay under this agreement by personally delivering
    the amount required at the address of the LENDER.

    C. Default. The occurrence of any of the following event shall


    constitute a default upon the borrower:

    1. Borrower failed to pay 6 months of his obligation,


    principal and interest, on the date required by this loan
    agreement;

    2. The borrower becomes insolvent or otherwise unable to


    pay his obligation under this contract;
    In case of the above circumstance the Lender shall notify the
    Borrower that the latter is in default with corresponding notice of
    the amount due and demandable.

    D. Cure of Default. If the default is due to the failure to timely pay


    the obligation herein agreed upon, the barrower shall pay his
    obligation by making full payment of any principal due and its
    accrued interest including the payment of the penalty discussed
    below.

    E. Penalty for Late Payment. An interest of Php 20,000 will be added


    due to the failure to timely pay the obligation herein agreed upon.

    Sgd. Sgd.
    ARTURITO C. ROMAN SERGIO C. MARQUINA

    LENDER BORROWER

    Signed in the presence of:


     
    Sgd. Sgd.
    DANNAH C. AGUSTIN & ENRICO A. DE GUZMAN   

    ACKNOWLEDGEMENT

    REPUBLIC OF THE PHILIPPINES}


    Davao City }S.S
    X-------------------------x

    BEFORE ME, a notary for and in Davao City, personally appeared:

    Name ID Number Date/Place Issued


    ARTURITO C. ROMAN Passport No. ZZ2166B 05/4/2019, Davao City
    SERGIO C. MARQUINA LTO- L06-2455134324 4/1/2016, Davao City
    Notary Public
    known to me and to me known to be the same persons who executed the
    foregoing Legal Instrument and acknowledged to me that the same is their
    Sgd.
    free and voluntary act and deed.
    STEPHANIE M. SANTOALLA
    WITNESS MY HAND ANDNotary Public
    SEAL, onfor
    theDavao Cityplace first above
    date and
    written. Notarial Commission Serial No.2020-081-2021
    Commission Expires on December 31, 2021
    Roll of Attorneys No. 55267
    IBP No. 096746/ 12-06-2019/Davao City
    PTR No. 3530407C/ 1-21-2020/ Davao City
    Doors 5 & 6, Tropicana Bldg., J.P. Laurel Ave.,
    Lanang, Davao City
    Doc. No. 041 ;
    Page No. 011 ;
    Book No. III ;
    Series of 2020.

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