This Loan Agreement ("Agreement") is entered into on [Date] by and between [Lender Name], with a mailing address of [Lender Address], ("Lender"), and [Borrower Name], with a mailing address of [Borrower Address], ("Borrower").
Loan Amount: Lender agrees to loan Borrower the sum of [Loan Amount] Philippines Peso ($[Loan Amount]).
Interest: The loan shall bear interest at the rate of [Interest Rate] percent per annum, calculated on the outstanding balance of the loan. Interest shall be payable [Interest Payment Schedule], with the first payment due on [First Payment Date].
Repayment: Borrower shall repay the loan in [Repayment Term] installments of [Installment Amount] Philippines Peso ($[Installment Amount]) each, beginning on [First Payment Date] and continuing on the same date of each month thereafter until the loan is fully repaid.
Collateral: [Collateral Description, if applicable]. In the event of default, Lender shall have the right to [Remedy for Default], including foreclosure on the collateral.
Default: Borrower shall be considered in default if [Default Conditions]. In the event of default, Lender shall have the right to [Remedy for Default].
Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
Entire Agreement: This Agreement contains the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement.
Signatures: This Agreement may be executed in counterparts and transmitted by fax, email, or other electronic means. The parties agree that facsimile or electronic signatures shall have the same force and effect as original signatures.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
| Loan Amount: | [Loan Amount] |
| Interest Rate: | [Interest Rate] |
| Repayment Term: | [Repayment Term] |
| Installment 1: [Date] | $[Installment Amount] |
| Installment 2: [Date] | $[Installment Amount] |
| Installment 3: [Date] | $[Installment Amount] |
Total Repayment: $[Total Repayment Amount]
The Borrower agrees to make the payments specified above in accordance with the terms of the Loan Agreement. If the Borrower fails to make a payment when due, the Lender may declare the entire loan balance due and payable immediately, and take any action available to it under the Loan Agreement.
The parties have executed this installment schedule as of the date first written above.
Lender:
[Signature]
[Borrower Name]:
[Signature]
