CONTRACT OF LOAN

KNOW ALL MEN BY THESE PRESENTS:

This contract of loan is entered into by and between:
MARK NOBEL BAYRANTE, Filipino, of legal age, married, with residence and
postal address at Salog, East District, Sorsogon City and with full capacity to enter
into this contract according to the provisions of the Civil Code of the Philippines and
hereinafter referred to as the CREDITOR; and
ACASIO BABASA, also a Filipino, of legal age, married to LIWAYWAY
BABASA, with residence and postal address at Seabreeze Homes, Brgy. Cabid-an,
East District, Sorsogon City, with full capacity to enter into this contract and
hereinafter referred to as the DEBTOR/BORROWER.

WITNESETH
1. The debtor is in dire need of money in the amount of FIFTY THOUSAND PESOS (P
50,000.00) Philippine Currency and thus came to undersigned creditor and asked
that he be given/extended with loan in the said amount.
2. Creditor agreed to extend a loan to the debtor provided that the amount to be given
shall bear interest of ten percent (10%) per month until the entire loan obligation is
paid to which the debtor agreed.
3. The parties also agreed that in order to secure the loan, the debtor shall surrender
the Certificate of Title of his real estate property situated at Euroville Subdivision,
Balogo and Bibincahan, East District, Sorsogon City with the following description to
wit;
Transfer Certificate of Title No. T-64332, Lot 3 Block 13 of the consolidated
subdivision survey Pcs-05-002192 being a portion of Lot 2 Pcs-05-001314 and
Lot 3713, Cad-192, Sorsogon Cadastre.
4. By reason of the prevalent criminal practice of others who simply part with their
ATM cards to their creditor and then secure a new one from the bank, the debtor do
hereby commits not to secure a new ATM in lieu of the ATM given to the creditor
otherwise, the entire loan shall become due and payable without need of demand
and the creditor is allowed to impose penalty charge of 200% of the amount of the
loan extended.
5. By reason of the foregoing, the creditor hereby gives to the debtor the amount of
_____________________________, (P _______________) which represent the principal
amount of the loan subject of this contract and the debtor do hereby acknowledge
receipt of the amount in Philippine Currency.
6. The debtor further understood that the cash released to him/her according to this
loan is ____________________________, (P________________) and nothing is to be
deducted therefrom as down payment and/or trade-in, there is no service or even
notarial charges. For this purpose, the debtor certifies compliance by the creditor of
the provision of Republic Act 3765 and such others laws, rules and regulation
governing loans.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures

this _______ day
of ________________________, 2013 at _______________________________, Philippines.

MA. THERESA J. LAURA

Creditor
CTC No. ______________
Issued on
______________
Issued at Sorsogon City
ID No. ____________
Issued by the DepEd

______________________
Debtor
CTC No.
______________
Issued on ______________
Issued at ______________
ID No. ________________
Issued by the DepEd

WITNESSES:
________________________

________________________

ACKNOWLEDGMENT
Republic of the Philippines
Province of ___________ ) S.S.
_____________________ )

BEFORE ME, this _____ day of ___________________, 2013 in the City of

__________________, personally appeared MA. THERESA J. LAURA
and
__________________________, exhibiting to me their Community Tax Certificate written
below their names together with their respective identification cards bearing their
pictures as competent evidence of their person, known to me 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 two (2) pages, including the page on which this
acknowledgment was written, has been signed on the left margin of each and every
page thereof by the parties and their witnesses.
Doc. No. ________
Page No.
________
PUBLIC
Book No.
________
Series of 2013

NOTARY