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Loan Agreement: Jenna C. Molina, Filipino Citizen, of Legal Age, Married, With Residence and
Loan Agreement: Jenna C. Molina, Filipino Citizen, of Legal Age, Married, With Residence and
Loan Agreement: Jenna C. Molina, Filipino Citizen, of Legal Age, Married, With Residence and
______________________________________
Jenna C. Molina, Filipino Citizen, of legal age, married, with residence and
postal address at #12 Victoria Village, Quezon Hill, Baguio City, hereinafter
referred to as the "LENDER"
-and-
Norman D. Fermin, Filipino Citizen, of legal age, married and postal address
at #420 Military Cut-Off Rd., Baguio City, hereinafter referred to as the
"BORROWER".
WITNESSETH:
The LENDER herein agrees to loan the BORROWER with the sum of
three million two hundred thousand (Php 3,200,000.00), Philippine currency,
and payable within the period of January 1, 2017 to January 1, 2018, under
the following terms and conditions:
A. Loan Payment Terms. The principal loan may be paid either in cash
or check at the end of the 12-month term of said loan agreement.
Payment shall be due on or before January 1, 2018, 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.
D. Cure of Default. If the default is due to the failure to timely pay the
obligation herein agreed upon, the borrower shall pay his obligation
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by making full payment of any principal due and its accrued interest
including the payment of the penalty discussed below.
ACKNOWLEDGEMENT
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Republic of the Philippines )
Baguio City ) S.S
WITNESS MY HAND AND SEAL, on the date and place first above
written.
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