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    Contract of Loan

    Uploaded by

    Jessie James
    This document is a contract of loan between Reynaldo L. Cabreros (Creditor) and Homer S. Gimena (Debtor). The Creditor loaned the Debtor PHP 150,000 to use as a down payment for a 2005 Isuzu Crosswind vehicle. The Debtor must repay the loan with 6% annual interest over 3 years. Upon full payment, the Creditor will release vehicle documents to the Debtor. Both parties signed the contract on May 30, 2010 in Olongapo City, Philippines.

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    © All Rights Reserved
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    Contract of Loan

    Uploaded by

    Jessie James
    1K views2 pages
    This document is a contract of loan between Reynaldo L. Cabreros (Creditor) and Homer S. Gimena (Debtor). The Creditor loaned the Debtor PHP 150,000 to use as a down payment for a 2005 Isuzu Crosswind vehicle. The Debtor must repay the loan with 6% annual interest over 3 years. Upon full payment, the Creditor will release vehicle documents to the Debtor. Both parties signed the contract on May 30, 2010 in Olongapo City, Philippines.

    Original Description:

    Loan Agreement

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    © © All Rights Reserved

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    This document is a contract of loan between Reynaldo L. Cabreros (Creditor) and Homer S. Gimena (Debtor). The Creditor loaned the Debtor PHP 150,000 to use as a down payment for a 2005 Isuzu Crosswind vehicle. The Debtor must repay the loan with 6% annual interest over 3 years. Upon full payment, the Creditor will release vehicle documents to the Debtor. Both parties signed the contract on May 30, 2010 in Olongapo City, Philippines.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    1K views2 pages

    Contract of Loan

    Uploaded by

    Jessie James
    This document is a contract of loan between Reynaldo L. Cabreros (Creditor) and Homer S. Gimena (Debtor). The Creditor loaned the Debtor PHP 150,000 to use as a down payment for a 2005 Isuzu Crosswind vehicle. The Debtor must repay the loan with 6% annual interest over 3 years. Upon full payment, the Creditor will release vehicle documents to the Debtor. Both parties signed the contract on May 30, 2010 in Olongapo City, Philippines.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    CONTRACT OF LOAN

    KNOW ALL MEN BY THESE PRESENTS:


    This CONTRACT OF LOAN made and executed this 30th day of May, 2010 by
    and between:
    REYNALDO L. CABREROS, of legal age, married, Filipino and with
    residence and postal address at Danac-bunga, Botolan, Zambales,
    hereinafter referred to as the CREDITOR;
    -ANDHOMER S. GIMENA, of legal age, married, Filipino and with residence
    and postal address at # 35 Sto. Rosario, Capas, Tarlac, hereinafter referred to
    as the DEBTOR.
    WITNESSETH;
    WHEREAS, the DEBTOR came to the CREDITOR and stated the
    intention of acquiring a vehicle which is necessary in his day-to-day routine
    while working at STL (Small Town Lottery) situated at Iba, Zambales.
    WHEREAS, the CREDITOR has offered to give the DEBTOR a loan to be
    able to pay for the initial down payment in the purchase of such vehicle.
    NOW THEREFORE, for and in consideration of the total sum of ONE
    HUNDRED FIFTY THOUSAND PESOS ( PHP 150,000.00) Philippine
    Currency, and of the Contract of Loan herein after set forth the CREDITOR
    and the DEBTOR agrees to the following terms and conditions:
    1. The total sum of ONE HUNDRED FIFTY THOUSAND PESOS (PHP
    150,000.00) Philippine Currency is indebted on May 30, 2010 by
    the DEBTOR TO THE CREDITOR.
    2. The amount loaned is to be used as initial down payment for the
    purchase of the vehicle 2005 Wagon series Isuzu Crosswind.
    3. The indebted amount of the sum of ONE HUNDREF FIFTY THOUSAND
    PESOS (PHP 150,000.00) is payable within a period of three (3)
    years from the execution of this contract, with interest at the rate of
    Six ( 6% ) percent per year.
    4. The loan is due on the third (3rd) year from the execution of this
    instrument and shall not be extended unless renewed by both
    parties.
    5. Upon full payment of the amount loaned, CREDITOR shall release
    vehicles Official Receipt and Certificate of Registration (OR/CR) and
    all the pertinent documents in favor of the DEBTOR.
    IN WITNESS WHEREOF, the parties have hereunto affixed their signatures,
    this 30th day of May 2010 at Olongapo City, Philippines.

    REYNALDO L. CABREROS
    GIMENA
    (CREDITOR)

    HOMER S.
    (DEBTOR)

    SIGNED IN THE PRESENCE OF:


    ____________________________

    _____________________________

    ACKNOWLEDGMENT
    REPUBLIC OF THE PHILIPPINES)
    OLONGAPO CITY
    ) SS
    BEFORE ME, a Notary Public, this ________ day of _______________
    Personally appeared the following:
    Name
    Issued
    Reynaldo L. Cabreros
    Olongapo City
    Homer S. Gimena
    City

    Drivers License Number

    Expiration Date/Place

    DL No. C06-94-007611 March 20, 2014 /LTO


    DL No. C11-92-060560 May 12, 2012 / LTO Quezon

    This instrument, consisting of Two (2) page/s, including the page on which
    this acknowledgment is written, has been signed on the left margin of each
    and every page thereof by the concerned parties and their witnesses, and
    sealed with my notarial seal.
    IN WITNESS WHEREOF, I have hereunto set my hand the day, year and place
    above written.

    Notary Public
    Doc. No. ______;
    Page No. ______;
    Book No. ______;
    Series of 20 ____.

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