Contract of Loan with Collateral

This Contract of Loan with Collateral is entered into by the following parties:

_________________________________,____________________________________________
_____________________________, as the Creditor,

And

BASHER B. ALONTO, legal age, Filipino, married, currently residing with postal
address at Unit 301, E.G.I Homes, Medina St. Brgy. Pio Del Pilar, Makati City, as the
Debtor.

This Contract is created as of [November X, 2020].

Collateral
The Debtor hereby agrees to provide the Creditor with full right and title of
ownership to the following property as collateral to secure a debt subject of this
agreement: “Condominium unit located at Sunny Villas lot 3/5 blk 2 unit 2/3 2F villa 2
- cluster 3, Pearl St. Fairview, Quezon City with floor area of 30.60 sqm, Condominium
Certificate of Title No. N-36298.Unit is still under Mortgage in PAG IBIG housing loan
in the account of Mr. Basher B. Alonto, and account number 316288229816”

Debt
The collateral listed above is offered by the Debtor in order to borrow a sum of
500,000 Php, (FIVE HUNDRED THOUSAND PESOS) with the payment period of 1
year and 2 months on (_________________).

Terms
 The Debtor warrants that no other Creditor has right to ownership of the listed
collateral that may interfere with the Secured Party’s ability to take and profit
from the sale of said property in the event that the above listed debts are not
repaid.
 The Debtor warrants that they are the rightful legal owner of the listed collateral.
 The Debtor agrees to notify the Secured Party of any changes to their contact
information or physical address.
 The Debtor agrees not to sell or transfer ownership of the property listed in this
collateral agreement until their debt to the Secured Party has been fully resolved.
 The Debtor agrees to be subjected to interest if he fails to pay in full the debt
within the stipulated period.
 The Debtor warrants paying continuously the amortization in the PAG IBIG loan
unless the Creditor signifies an interest to proceed buying the said property.
  The Creditor shall pay for its telephone, electric, cable TV, water, Internet,
association dues and other public services and utilities during the duration of the
lease
 If whole or any part of the leased premises shall be destroyed or damaged by
fire, flood, lightning, typhoon, earthquake, storm, riot or any other unforeseen
disabling cause of acts of God, as to render the leased premises during the term
substantially unfit for use and occupation of the Debtor, then this lease contract
may be terminated without compensation by the Creditor or by the Debtor by
notice in writing to the other.
 The Creditor shall answer of all any damages which may occur during the
existence of this contract.
 Notwithstanding any contrary statements contained in this contract, if the Debtor
defaults on payment of this contract or any other obligation set forth herein, and
the default continues after the Creditor notifies the Debtor of the default and the
period within which it must be corrected, as may be required by law, then the
Creditor may declare the unpaid principal balance, and any accrued interest,
immediately due and demandable.
 This CONTRACT OF LOAN WITH COLLATERAL shall be valid and
binding between the parties, their successors-in-interest and assigns

IN WITNESS WHEREOF, parties herein affixed their signatures on the date

and place above written.

Signed By: Signed By:

BASHER B. ALONTO __________________________

WITNESSESS

________________________ ___________________________

ACKNOWLEDGEMENT

Republic of the Philippines )

City of Quezon ) S.S

BEFORE ME, personally appeared:

Name CTC Number Date/Place Issued

Basher B. Alonto , 20__ / City

, 20__ / City
Known to me and to me known to be the same persons who executed the foregoing
instrument and acknowledged to me that the same is their free and voluntary act and
deed.

This instrument consisting of ____ page/s, including the page on which this
acknowledgement is written, has been signed on each and every page thereof by the
concerned parties and their witnesses, and and sealed with my notarial seal.

WITNESS MY HAND AND SEAL, on the date and place first above written.

Notary Public

Doc. No.______;
Page No. ______;
Book No.______;
Series of 20___.