Contract Of Loan (vehicle).docx

CONTRACT OF LOAN KNOW ALL MEN BY THESE PRESENTS: This Contract of Loan is made and executed by and between: ALMATAN HARDWARE AND CONSTRUCTION SUPPLY,a sole proprietorship duly organized and existing under the law of the Republic of the Philippines with business address atSto. Niňo Tabuan Arayat Pampanga, represented herein by its Owners, MARILOU T. DULATRE and ALIPIO DULATRE, hereinafter referred to as the CREDITORS; -AND____________________________, Filipino, of legal age and a resident of _________________________ hereinafter referred to as DEBTOR; W I T N E S S E T H: That the DEBTOR is desirous of borrowing the amount of ___________________ (Php.______________.00) PESOS, Philippine Currency while the CREDITORSare willing and able to lend the said amount, subject to the following terms and conditions: 1. That the CREDITORS shall convey the amount of __________________ (Php. ___________________.00) PESOS to the DEBTOR upon execution of this Contract; 2. That the DEBTOR shall pay the CREDITORS the aforementioned amount loaned on or before __________________; 3. That in case of failure on the part of the DEBTOR to pay the amount of loan in full at its aforementioned maturity date and in order to secure its obligations under the Loan, the DEBTOR will surrender to the CREDITORS a VEHICLE with Plate No. __________, Series: ______________, Make: ______________________ and Model: ______________. This will serve as collateral for the abovementioned loan. 4. That the parties herein hereby commit to fully observe the terms and conditions as embodied in this contract and are fully aware that any violation of the same shall expose such erring party to the corresponding, criminal and/or civil liabilities. IN WITNESS WHEREOF, parties herein affixed their signatures on the date and place above written.

MARILOU T. DULATRE CREDITOR

ALIPIO DULATRE CREDITOR

__________________________ DEBTOR

Signed in the presence of: _____________________________

___________________________

ACKNOWLEDGMENT Republic of the Philippines) ______________________) S.S BEFORE ME, a Notary Public for and in _______________, personally appeared: Name Marilou T. Dulatre Alipio Dulatre

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Date/Place Issued

Known to me and to me known to be the same persons who executed the foregoing instrument and acknowledged to me that the same are their free and voluntary act and deed. This Contract of Loan consisting of two (2) pages, including the page on which this acknowledgment is written, has been signed on each and every page thereof by the concerned parties and their witnesses, and sealed with my notarial seal. WITNESS MY HAND AND SEAL, on the date and place first above written. Doc. No.______; Page No. ______; Book No.______; Series of 2018.