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Tagbilaran City
11 December 20XX
=P= 33,600.00
FOR VALUED RECEIVED, I, ABC, Filipino, of legal age, single, and a resident of
XXX, Tagbilaran City, Bohol, Philippines, hereby promise to pay to THE ORDER OF XYZ,
Filipino, of legal age, single and a resident of XXX, Tagbilaran City, Bohol, Philippines,
the amount of THIRTY THREE THOUSAND SIX HUNDRED (P=33,600.00) PESOS payable
within a period of SIXTY DAYS starting on 19 December, 20XX with a weekly installment
of P4,200.00 payable in eight installments until the whole amount is fully settled on or
before 06 February, 20XX, whichever comes first, without the need of further demand.
In case of failure to pay for two installments, the whole amount of the loan shall
become due and demandable.
I further issue by way of security for the payment of the aforesaid loan the
following postdated checks:
ABC XYZ
LENDER BORROWER
WE, the undersigned, hereby jointly and severally bind ourselves to pay to the
order of ABC the amount of THIRTY THREE THOUSAND SIX HUNDRED (P=33,600.00)
PESOS in case XYZ defaults in paying the aforesaid amount when it becomes due.
1. _______________________________ 2. ____________________________
ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
TAGBILARAN CITY ) S. S.
known to me to be the same persons who executed the foregoing instrument and they
acknowledged that the same is their free act and deed.