FLEXIBLE CASHBOX LENDING INCORPORATED

2nd Floor, A&P Building, Lazatin Boulevard,

Baranggay Dolores, City of San Fernando, Pampanga.
collections@flexcashbox.com (0920)2464369/(0917)1085141

LOAN AGREEMENT AND PROMISSORY NOTE

THIS LOAN AGREEMENT AND PROMISSORY NOTE (the “Note”), is made this ______ day of
_________, 2018, by and among Flexible Cashbox lending Inc. (hereinafter, known as
“LENDER”) and ________________ (hereinafter, known as “BORROWER”).  BORROWER and
LENDER shall collectively be known herein as “the Parties”.  In determining the rights and duties
of the Parties under this Loan Agreement, the entire document must be read as a whole.

PROMISSORY NOTE

FOR VALUE RECEIVED, BORROWER promises to repay to the order of LENDER, the sum of Php
_________ together with interest thereon at a rate of 10 percent (%) per month.

ADDITIONAL LOAN TERMS

The BORROWER and LENDER, hereby further set forth their rights and obligations to one
another under this Loan Agreement and Promissory Note and agree to be legal bound as
follows:

A. Principal Loan Amount ________

B. Loan Repayment Terms.

BORROWER will make payment(s) to LENDER in _________ separate payments according to the
following schedule:
C. Method of Loan Payment.

The BORROWER shall make all payments called for under this loan agreement by sending check
or other negotiable instrument made payable to the following individual or entity at the
address indicated:

Name:
__Flexible Cashbox Lending Inc.___________

Address:
__A & P Building Lazatin Blvd Dolores City of San Fernando Pampanga___

If LENDER gives written notice to BORROWER that a different address shall be used for making
payments under this loan agreement, BORROWER shall use the new address so given by
LENDER.

D. Default.

The occurrence of any of the following events shall constitute a Default by the BORROWER of
the terms of this loan agreement and promissory note:

1) BORROWER’S failure to pay any amount due as principal or interest on the date
required under this loan agreement.
2) BORROWER seeks an order of relief under the National Bankruptcy laws.
3) A tax lien is filed against the assets of BORROWER.

E. Additional Provisions Regarding Default.

1) Addressee and Address to which LENDER is to give BORROWER written notice of

default: A & P Building Lazatin Blvd Dolores City of San Fernando Pampanga

If BORROWER gives written notice to LENDER that a different address shall be

used, LENDER shall use that address for giving notice of default (or any other
notice called for herein) to BORROWER.

2) Philippine Postal Authority.  Upon default, LENDER shall give BORROWER

written notice of default.  Mailing of written notice by LENDER to BORROWER via
U.S. Postal Service Certified Mail shall constitute prima facie evidence of
delivery.  BORROWER shall
 have 15 days after receipt of written notice of default from LENDER to cure said
default.  In the case of default due solely to BORROWER’S failure to make timely
payment as called for in this loan agreement, BORROWER may cure the default
by either:  (I) making full payment of any principal and accrued interest
(including interest on these amounts) whose payment to LENDER is overdue
under the loan agreement and, also, the late-payment penalty described below.

3) Penalty for Late Payment.  There shall also be imposed upon BORROWER a 5%
penalty or Php. 500 for any late payment computed upon the amount of any
principal and accrued interest whose payment to LENDER is overdue under this
loan agreement and for which LENDER has delivered a notice of default to
BORROWER

4) Indemnification of Attorney’s Fees and Out-of-Pocket Costs.  Should any party

materially breach this agreement, the non-breaching party shall be indemnified
by the breaching party for its reasonable attorney’s fees and out-of-pocket costs
which in any way relate to, or were precipitated by, the breach of this
agreement.  The term “out-of-pocket costs”, as used herein, shall not include
lost profits.  A default by BORROWER which is not cured within 15 days after
receiving a written notice of default from LENDER constitutes a material breach
of this agreement by BORROWER.

F. Integration.

This Agreement, including the attachments mentioned in the body as incorporated by

reference, sets forth the entire agreement between the Parties with regard to the subject
matter hereof.  All prior agreements, representations and warranties, express or implied, oral
or written, with respect to the subject matter hereof, are superseded by this agreement.  This is
an integrated agreement.

G. Severability.

In the event any provision of this Agreement is deemed to be void, invalid, or unenforceable,
that provision shall be severed from the remainder of this Agreement so as not to cause the
invalidity or unenforceability of the remainder of this Agreement.  All remaining provisions of
this Agreement shall then continue in full force and effect.  If any provision shall be deemed
invalid due to its scope or breadth, such provision shall be deemed valid to the extent of the
scope and breadth permitted by law.
H. Modification.

Except as otherwise provided in this document, this agreement may be modified, superseded,
or voided only upon the written and signed agreement of the Parties.  Further, the physical
destruction or loss of this document shall not be construed as a modification or termination of
the agreement contained herein.  

I. Others.

Where appropriate words signifying one gender shall include the others and words signifying
the singular shall include the plural and vice versa. Paragraph headings are for convenience of
reference only and are not intended to have any effect in the interpretation or determining of
rights or obligations under this Promissory Note.

The Borrower hereby acknowledge that they have read the printed provisions of this
Promissory Note and the typewritten entries made in the appropriate spaces provided herein
and confirm that they understand and are in agreement with said printed provisions and such
entries.

Signed at ____________________________ on this ____ day of ______________________

20____.

MADE BY:

________________________ __________________________
Signature over Printed Name Signature over Printed Name
(Lender/Representative) (Borrower)

Signed in the Presence of:

 DISCLOSURE STATEMENT
On loan/credit transaction as required under RA 3765, Truth in Lending Act

NAME OF BORROWER/MAKER

ADDRESS

NAME OF CO-MAKER

ADDRESS

NAME OF CO-MAKER (2)

ADDRESS

1. LOAN AMOUNT P ___________

2. OTHER DEDUCTIONS P ___N/A_____

a. Documentary Stamp Tax P ____N/A____

b. Mandatory Credit Insurance P ____N/A____
c. Others
_____N/A______ _____N/A______
_____N/A______ _____N/A_______________

3. NET PROCEEDS OF LOAN (Item 1 less Item 2) P __________

4. SCHEDULE OF PAYMENT
a. Payment Due ___________P ___________
b. Instalment Payments
5. EFFECTIVE INTEREST RATE (Interest and Other Charges) 10% Per Month

The effective interest rate is higher than the contractual interest rate of 10 % because of item 2
deductions above (Effective Interest Rate changes upon repricing)

6. CONDITIONAL CHARGES THAT MAY BE IMPOSED (if applicable)

NATURE AMOUNT
Attorney’s Fee 25% of the entire claim
Liquidated Damages 2% per annum
Late Payment Penalty 5 % for first month, additional 1% monthly after
1st month or P500, whichever is higher.
Others:
CERTIFIED CORRECT:

______________________________________ _______________
Signature of Lender/Authorized Representative Position

I ACKNOWLEDGE RECEIPT OF A COPY OF THIS STATEMENT PRIOR TO THE CONSUMMATION OF THE

CREDIT TRANSACTION.

__________________________________________ _______________
Signature of Maker/Borrower Over Printed Name Date

_____________________________________________ ________________
Signature of Co-Maker/Co-Borrower Over Printed Name Date

________________________________________________ ________________
Signature of Co-Maker/Co-Borrower (2) Over Printed Name Date