This promissory note outlines the terms of a loan between a lender and borrower. The borrower promises to pay the principal amount borrowed, plus 2% annual interest, in installments according to the payment schedule. The first payment is due on a specified date, with subsequent monthly payments of $20,000 until the full balance is paid. The note can be paid in full at any time without penalty. If a payment is over 15 days late, the full balance becomes immediately due. The borrower also agrees to pay collection fees if required to collect on a default.
This promissory note outlines the terms of a loan between a lender and borrower. The borrower promises to pay the principal amount borrowed, plus 2% annual interest, in installments according to the payment schedule. The first payment is due on a specified date, with subsequent monthly payments of $20,000 until the full balance is paid. The note can be paid in full at any time without penalty. If a payment is over 15 days late, the full balance becomes immediately due. The borrower also agrees to pay collection fees if required to collect on a default.
This promissory note outlines the terms of a loan between a lender and borrower. The borrower promises to pay the principal amount borrowed, plus 2% annual interest, in installments according to the payment schedule. The first payment is due on a specified date, with subsequent monthly payments of $20,000 until the full balance is paid. The note can be paid in full at any time without penalty. If a payment is over 15 days late, the full balance becomes immediately due. The borrower also agrees to pay collection fees if required to collect on a default.
For the purchases made by way of the accommodation extended by ___________
(payee) with the use of his credit cards, I, ___________, promise to pay without need of demand to payee or his order at such address as the payee may specify the full amount of ____________(P _____________), together with interest thereon at the rate of 2% per annum on any unpaid balance. Said sum, inclusive of interest, shall be paid on installments and in accordance with the ff: 1. First payment of _______________ (P __________) on ______________. 2. Succeeding payments in the amount of TWENTY THOUSAND PESO______________S (P___________) to be paid on the same day of each month thereafter until the full principal amount of this note and accrued interest is fully paid. All payments shall be first applied to earned interest and the balance to principal. The undersigned may prepay this note in whole or in part without penalty. This note shall be fully payable upon demand of any holder in the event the undersigned shall default in making any payments due under this note within 15 days of its due date. In the event of any default, the undersigned agree to pay all reasonable attorneys fees and costs of collection to the extent permitted by law.
_____ September 2013, Manila City, Philippines.
Maker
IN WITNESSES WHEREOF, I set my hand under seal this ________ of ______,
2013 and I acknowledge receipt of a completted copy of this Instrument