LOAN AGREEMENT

KNOWN ALL MEN BY THESE PRESENTS:

This Agreement entered into by and between:

_______________________, of legal age, Filipino, with residence

at________________________________, hereinafter referred to as the “FIRST PARTY”.

-AND-

_______________________, of legal age, Filipino, with residence at

_____________________________________, (hereinafter referred to as the “SECOND
PARTY”).

WITNESSETH; That –

1. At the request of the SECOND PARTY, the FIRST PARTY has extended a loan to the
SECOND PARTY in the principal sum of PESOS:
________________________________as the “LOAN”), the full amount of which is
acknowledge to have been received by the SECOND PARTY.

The SECOND PARTY promises to repay the LOAN to the FIRST PARTY within TWO
(2) YEARS from date thereof, together with interest at Two (2) Percent (2%) per month
on said amount from date hereof with monthly payments of
_______________________________________________ monthly installments until full
payment thereof.

In the event the DEBTOR shall fail to pay the LOAN as it falls due, the unpaid principal
and accrued interest thereon shall, in addition to the stipulated interest, be to penalty
interest at the same rate as the stipulated interest commencing on the date immediately
following the due date of the LOAN until full payment of the entire outstanding amount
of the LOAN.

2. As security for the repayment f the LOAN and the interest and other charges thereon, and
the due faithful performance by the SECOND PARTY of his obligations under this
Agreement, the SECOND PARTY hereby surrender Transfer Certificate of Title (TCT)
______________________in good faith for safekeeping with the commitment to
foreclose and sell said real property mortgage to SECOND PARTY
by_______________________________, the registered owner of TCT No.
______________________________________who has executed an open Deed of
Absolute Sale to herein SECOND PARTY. In the event SECOND PARTY fails to
comply with the conditions set forth in this Loan Agreement, SECOND PARTY,
promises to sell real property to fulfill payment of all outstanding obligations to FIRST
PARTY including interest and parties, situated at
#________________________________________________________, and more
particularly described as follows:

“TRANSFER CERTIFICATE OF TITTLE NO. ____________________________

3. All documentary stamps due on this Agreement as well as all expenses for the
registration of the Mortgage, and other government fees and charges imposed on the on
connection with this Mortgage shall be for the account of the SECOND PARTY.

4. The SECOND PARTY during the life of this mortgage shall not sell, lease. Mortgage,
encumber or otherwise dispose of the PROPERTY without the consent of the FIRST
PARTY being first obtained.
IN WITNESS WHEREOF, the parties have caused these presents to be signed on

_________________________ ________________________
(FIRST PARTY) (SECOND PARTY)

SIGNED IN THE PRESENCE OF:

_________________________ __________________________

ACKNOWLEDGMENT

REPUBLIC OF THE_____________ )
______________________________________________________ ) S.S.
BEFORE ME, a Notary Public for and in _________________________, personally and
appeared this ___________ day of ______________, 20__.

NAME EVIDENCE OF IDENTITY ISSUED AT - VALIDITY

Known to me and to me known to be the same persons who executed the foregoing Real Estate
Mortgage and they acknowledged to me that the same is their free and voluntary act and deed.

IN WITNESS WHEREOF, I have hereunto affixed my signature and notarial seal consisting of
two (2) pages including this Acknowledgement on ______ at ____________
WITNESS MY HAND AND SEAL, at the date and place first above written.

Doc. No: ________;

Page No:________;
Book No:________;
Series of 20___.