LOAN AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Loan Agreement is made and entered into this ____ day of ___________, 2018 by and
between:

SAGIP KASAPI FOUNDATION INC. (SKFI), a non-stock, non-profit orga hereinafter referred to as
the FIRST PARTY;
-AND-
NORMA B. CACHOLA, of legal age, married, Filipino and with residence and postal address at
Sorosoro Ibaba, Batangas City hereinafter referred to as the SECOND PARTY;

This Agreement is entered by and between the FIRST PARTY and the SECOND PARTY with the
following covenants, to wit:
1. This Agreement constitutes the whole of this Agreement between the Parties hereto relating to
the matters dealt with herein and, save to the extent otherwise provided herein, no undertaking,
representation, term or condition relating to the subject matter of this Agreement not
incorporated in this Agreement, shall be binding on any of the Parties;
2. Save as otherwise herein provided, neither this Agreement nor any part, share or interest therein
nor any rights or obligations hereunder may be ceded, assigned, or otherwise transferred without
the prior written consent of the other Party;
3. Any consent or approval required to be given by any Party in terms of this Agreement will, unless
specifically otherwise stated, not be unreasonably withheld;
4. Each Party agrees that, in its respective dealings with the other Party under or in connection
with this Agreement, it shall act in good faith; and
5. At the request of the SECOND PARTY, the FIRST PARTY had extended a loan to the SECOND
PARTY in the principal amount of ______________________________ (Php
_________________) the “LOAN”, the full amount of which is acknowledged to have been
received by the SECOND PARTY. The SECOND PARTY promises to repay the loan to the
FIRST PARTY within one(1) year from the date thereof, together with interest at fourteen(14%)
percent per month on the said amount from the date hereof until full payment thereof;
6. In the event the SECOND PARTY 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 subject to penalty
interest amounting to FIVE HUNDRED PESOS (Php500.00) 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.
7. If the SECOND PARTY fails to pay for three (3) consecutive months, the FIRST PARTY will get
the edging machine and without the benefit of refund of the amount paid.
8. If the SECOND PARTY fails to make payment of any instalment on due date and the FIRST
PARTY decides to enforce the acceleration clause, he/she shall be given notice, calling upon
him/her to make payment within seven(7) days, failing which the FIRST PARTY shall be entitled
to claim payment of whatever is due in terms of this agreement by way of summons.
9. No variation, addition, deletion, or agreed cancellation will be of any force or effect unless in
writing and signed by or on behalf of the Parties hereto. Failure or delay on the part of any Party
hereto in exercising any right, power or privilege hereunder will constitute or be deemed to be
a waiver thereof, nor will any single or partial exercise of any right, power or privilege preclude
any other or further exercise thereof or the exercise of any other right, power or privilege;
10. The SECOND PARTY shall be liable for the costs, if any in respect of the drafting and execution
of this contract.
11. Delay or failure to comply with or breach of any of the terms and conditions of this Agreement if
occasioned by or resulting from an act of God or public enemy, fire, explosion, earthquake, perils
of the sea, flood, war declared or undeclared, civil war, revolution, civil commotion or other civil
strife, riot, strikes, blockade, embargo, sanctions, epidemics, act of any Government or other
Authority, compliance with Government orders, demands or regulations, or any circumstances
of like or different nature beyond the reasonable control of the Party so failing, will not be deemed
to be a breach of this Agreement nor will it subject either Party to any liability to the other; Should
either Party be prevented from carrying out its contractual obligations as a result of a force
majeure event lasting continuously for a period of thirty (30) days, either Party shall be entitled,
 after due consultation with the other Party in an effort to come to a mutually acceptable
arrangement, to terminate the Agreement on written notice to the other Party, without liability.

12. If any term, condition, provision or performance, or any part of a term, condition, provision or
performance of this Agreement is determined to be invalid, illegal, unlawful or unenforceable to
any extent, that term, condition, provision or performance or the relevant part thereof shall be
severed from the remaining terms, conditions, provisions and performance of this Agreement,
or amended to make it valid, legal, lawful and enforceable, in such a manner as to leave the
amended Agreement substantially the same in essence, and this Agreement so amended shall
remain in force and effect.

13. This Loan Agreement shall take effect upon signing by the Parties to the Agreement. This
Agreement will be valid for ______________________ covering from _________________ to
________________ subject to renewal upon mutual consent of both parties herein.

IN WITNESS WHEREOF, the parties hereto have affixed their respective signatures this ____ day
of ______________, 2018 in __________________ Philippines.

SAGIP KASAPI FOUNDATION, INC.

By: By:

________________________ ______________________________
MS. JOSIE G. MANALO MS. NORMA B. CACHOLA
First Party Second Party

SIGNED IN THE PRESENCE OF:

____________________________ ___________________________
CHERRY I. ILAGAN
Social Worker

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES )

________________________________) S.S.

BEFORE ME, this _______ day of _________ 2018 in _____________________, Philippines personally
appeared the following:

Name Gov’t issued ID No. Date and Place Issued

1. JOSIE G. MANALO _________________ _______________________
2. NORMA B. CACHOLA _________________ _______________________

Know to me to be the same persons who executed the foregoing instrument, and they acknowledged
to me the same is their free act and deed.

This Loan Agreement consisting of two (2) pages, including the page on which this
acknowledgement is written, has been signed in the left margin of each and every page thereof by the herein
parties and their witnesses, and sealed with my notarial seal.
IN WITNESS WHEREOF, I have hereto set my hand on the day, year and place above the written.

NOTARY PUBLIC

Doc. No. ________;

Page No. ________;
Book No. ________;
Series of 2018.