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    (Template) Loan Agreement-Addendum

    Uploaded by

    Wilfred Martinez
    This addendum modifies an existing loan agreement between a creditor and debtor. It increases the original loan amount and subjects the additional amount to the same terms and conditions as the original loan. The addendum acknowledges payments made on the original loan and ratifies all terms of the original agreement for the new, increased total amount. The creditor and debtor sign the addendum in the presence of witnesses and it is notarized.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    (Template) Loan Agreement-Addendum

    Uploaded by

    Wilfred Martinez
    3K views2 pages
    This addendum modifies an existing loan agreement between a creditor and debtor. It increases the original loan amount and subjects the additional amount to the same terms and conditions as the original loan. The addendum acknowledges payments made on the original loan and ratifies all terms of the original agreement for the new, increased total amount. The creditor and debtor sign the addendum in the presence of witnesses and it is notarized.

    Original Description:

    A simple template for an addendum to a Loan Agreement for the increase in loaned amount.

    Original Title

    [Template] Loan Agreement-Addendum

    Copyright

    © © All Rights Reserved

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    PDF, TXT or read online from Scribd

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    This addendum modifies an existing loan agreement between a creditor and debtor. It increases the original loan amount and subjects the additional amount to the same terms and conditions as the original loan. The addendum acknowledges payments made on the original loan and ratifies all terms of the original agreement for the new, increased total amount. The creditor and debtor sign the addendum in the presence of witnesses and it is notarized.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    3K views2 pages

    (Template) Loan Agreement-Addendum

    Uploaded by

    Wilfred Martinez
    This addendum modifies an existing loan agreement between a creditor and debtor. It increases the original loan amount and subjects the additional amount to the same terms and conditions as the original loan. The addendum acknowledges payments made on the original loan and ratifies all terms of the original agreement for the new, increased total amount. The creditor and debtor sign the addendum in the presence of witnesses and it is notarized.

    Copyright:

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

    LOAN AGREEMENT

    (Addendum)

    This Addendum to the Loan Agreement dated ___________________________________ (this


    “Addendum”) is dated as of ___________________________________ (the “Effective Date”)
    between:

    ___________________________________, of legal age, single, Filipino, and with


    residential address at ___________________________________, Metro Manila,
    Philippines (the “CREDITOR”).

    AND

    ___________________________________, of legal age, single, Filipino, and with


    residential address at ___________________________________, Metro Manila,
    Philippines (the “DEBTOR”).

    Each of the CREDITOR and DEBTOR shall may be individually referred to as “PARTY”, and both shall
    collectively be referred to herein as the “PARTIES.”

    WITNESSETH

    Whereas, the PARTIES have an existing loan for the amount of


    ___________________________________ (PHP ______________) evidenced by a Loan Agreement
    dated ___________________________________ hereto attached as Annex “A” hereinafter called the
    “Original Loan.”

    Whereas, the DEBTOR again borrowed an amount of


    ___________________________________ Philippine Peso (PHP _____________) from the
    CREDITOR, in addition to the Original Loan (“Additional Amount”).

    Whereas, the CREDITOR agreed to lend the above Additional Amount subject to the same
    conditions as the Original Loan and that the same will be added to the original amount stated therein.

    Whereas, as of the date of this Addendum, the DEBTOR has made


    ___________________________________ installment payments to the Original Loan totaling to an
    amount of ___________________________________ Philippine Pesos (PHP _____________) as
    evidenced by the SCHEDULE OF PAYMENTS previously attached as Annex A to the Original Loan.

    TERMS AND CONDITIONS

    Now, wherefore, for and in consideration of the above and the mutual covenants herein
    contained, the Parties agree as follows:

    1. Additional Loan

    The PARTIES hereby agree to increase the Original Loan amount from
    ___________________________________ Philippine Peso (PHP _____________) to
    ___________________________________ Philippine Peso (PHP _____________).

    2. Ratification of the Original Loan

    Page 1 of 2
    Addendum to Loan Agreement
    (a) The PARTIES hereby agree that the increased amount mentioned in CLAUSE 1 of this
    Addendum shall be subjected to the same terms and conditions as found in the Original
    Loan contract particularly on payment of Interest and the terms or manner of Payment.

    (b) The PARTIES hereby acknowledge and agree that all terms and conditions under the
    Original Loan shall, as far as applicable, be deemed embodied in this Addendum.

    IN WITNESS WHEREOF each of the Parties hereto have caused this Agreement to be executed as of
    this _____________ at _____________ City, Philippines.

    The CREDITOR The DEBTOR

    ___________________________________ ___________________________________

    SIGNED IN THE PRESENCE OF

    By:___________________________________ By:___________________________________

    ACKNOWLEDGMENT

    REPUBLIC OF THE PHILIPPINES )


    __________________________ ) S.S.

    BEFORE ME, a Notary Public for and in the City of Manila, on this ___ day of _____________
    2019, personally appeared:

    Name Government ID No. Valid Until

    Known to me and to me known to be the same person who executed the foregoing Addendum
    consisting of two (2) pages including this page on which this Acknowledgment is written, and the
    Annex attached hereto, signed by the Parties and their witnesses on each and every page hereof and
    they acknowledged to me that the same is their free and voluntary act and deed as well as of the
    corporations represented.

    IN WITNESS WHEREOF, I have hereunto set my hand and seal on the date and place hereinabove set
    forth.

    Notary Public
    Doc. No. _____;
    Page No. _____;
    Book No. _____;
    Series of 2019.

    Page 2 of 2
    Addendum to Loan Agreement

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