LOAN AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This LOAN AGREEMENT, duly executed this 10 th day of January, 1989 at Quezon,
Philippines, by and between:
MARIA CLARA, married, of legal age and a resident of Mabini Street, Quezon Province
(hereinafter referred to as the BORROWER);
-ANDSPOUSES PEDRO DELA CRUZ and JUANA DELA CRUZ, both of legal age and residents
of Camiling, Tarlac (hereinafter referred to as the LENDERS).

WHEREAS, at the request of the BORROWER, the LENDERS have agreed to extend to
the BORROWER subject to the terms and conditions hereof, under the terms and conditions
hereinafter set forth below;
NOW THEREFORE, for and in consideration of the foregoing premises and the
following terms and conditions, the LENDERS hereby grant the Loan to the BORROWER.
1. Date of Agreement:
This Agreement is effective January 10, 1989.
2. Period of Loan:
This loan shall endure for a period of one (1) year calculated from the Date of
Agreement.
3. Loan Amount:
The Borrower promises to pay to the Lenders Php120,000.00, free from any interest and
other charges.
4. Prepayment:
The Borrower shall be entitled to pay larger instalments than prescribed or the full
balance of capital at any time prior to the prescribed dates of payment.
5. Dispute Resolution:
Where any dispute arises among the Parties as to the performance or interpretation of this
Deed, the Parties will resolve the dispute in the following manner:
a
b

First, the Party raising the dispute must notify immediately the other Party of the
dispute, providing a reasonable amount of information about the nature of the
dispute.
Second, if such negotiation fails, the Parties may already resort to litigation.

6. Payments:
All payments due from the Borrower to the Lenders under this Agreement will be made
by direct payment to any of the Lenders.
7. Entire Agreement:
The parties confirm that this contract contains the full terms of their agreement and that
no addition to or variation of the contract shall be of any force and effect unless done in
writing and signed by both parties.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands on the date and at the
place first above written.

MARIA CLARA
Borrower
PEDRO DELA CRUZ
Lender/s

JUANA DELA CRUZ

Lender/s

Signed in the presence of:

_____________________

___________________

ACKNOWLEDGEMENT
Republic of the Philippines
Quezon

)
) S.S.

BEFORE ME, a Notary Public in and for Quezon, Philippines this 10 th day of January, 1989
personally appeared:
Name

TIN ID No./ Govt

Issued ID No.

Date & Place

Issued

MARIA CLARA
PEDRO DELA CRUZ
JUANA DELA CRUZ
all known to me and to me known to be the same persons who executed the foregoing Loan
Agreement and they acknowledged to me that the same is their free and voluntary act and deed.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my notarial seal on the
date and at the place first above written.
NOTARY PUBLIC
Doc. No.____;
Page No.____;
Book No.____;
Series of 1989.