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    Promissory Note-Stall

    Uploaded by

    Liza Melgar
    This promissory note details a loan of 150,000 Philippine pesos from a lender to a borrower. As security for the loan, the borrower assigns their market stall to the lender, allowing the lender to use and occupy the stall for commercial purposes. If the borrower defaults on repayment by the due date, they will relinquish all possessory rights over the market stall to the lender. The borrower waives their rights to demand payment or notice regarding the loan. Both parties signed the promissory note on a specified date in the presence of a notary public.

    Copyright:

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

    Promissory Note-Stall

    Uploaded by

    Liza Melgar
    120 views1 page
    This promissory note details a loan of 150,000 Philippine pesos from a lender to a borrower. As security for the loan, the borrower assigns their market stall to the lender, allowing the lender to use and occupy the stall for commercial purposes. If the borrower defaults on repayment by the due date, they will relinquish all possessory rights over the market stall to the lender. The borrower waives their rights to demand payment or notice regarding the loan. Both parties signed the promissory note on a specified date in the presence of a notary public.

    Original Title

    PROMISSORY NOTE-STALL

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    © © All Rights Reserved

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    This promissory note details a loan of 150,000 Philippine pesos from a lender to a borrower. As security for the loan, the borrower assigns their market stall to the lender, allowing the lender to use and occupy the stall for commercial purposes. If the borrower defaults on repayment by the due date, they will relinquish all possessory rights over the market stall to the lender. The borrower waives their rights to demand payment or notice regarding the loan. Both parties signed the promissory note on a specified date in the presence of a notary public.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    120 views1 page

    Promissory Note-Stall

    Uploaded by

    Liza Melgar
    This promissory note details a loan of 150,000 Philippine pesos from a lender to a borrower. As security for the loan, the borrower assigns their market stall to the lender, allowing the lender to use and occupy the stall for commercial purposes. If the borrower defaults on repayment by the due date, they will relinquish all possessory rights over the market stall to the lender. The borrower waives their rights to demand payment or notice regarding the loan. Both parties signed the promissory note on a specified date in the presence of a notary public.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Amount: P150,000.

    00
    Dated Granted: January 09, 2018
    Due Date: _________________

    PROMISSORY NOTE

    For VALUE RECEIVED, I, _____(maker/borrower) with address at _________ promise to


    pay ____________(holder/creditor), or order, at the latter’s address at Bliss Village, City of
    Ilagan, Isabela the principal sum of ONE HUNDRED FIFTY THOUSAND PESOS
    (P150,000.00) Philippine currency, without interest.

    That as a security for the payment of the aforesaid loan, I hereby assign and allow my above
    named creditor to use and occupy for commercial purposes my market stall identified as building no.
    _____ located at ______________.

    That in case of any default in payment of the aforesaid sum on stipulated due date above
    stated, I further undertake to absolutely transfer, cede, relinquish and/or waive my possessory
    rights/privileges over said market stall free from liens or encumbrances in favor of my above named
    creditor;

    Failure of the Creditor/Holder to exercise any option hereunder shall not constitute a waiver of
    the right to exercise the same in the event of any subsequent default or in the event of the continuance
    of any existing default after demand for strict performance hereof;

    Maker hereby waives demand, diligence, presentment for payment, protest or notice of
    demand and exercise of any option hereunder. Maker or each individual and entity signing this note,
    whether or not as a Maker, further agrees that the granting of any extension or extension of time for
    payment of any sums or sums due hereunder, or under any other instrument securing this note, or for
    the performance of any covenant, condition or agreement hereof or thereof or the taking release of
    other or additional security shall in no way release or discharge the liability the Maker or any signor
    or any guarantor hereof.

    Time is of the essence of this note and each and every term and provision herein is intended to
    insure the prompt payment of the obligation.

    IN WITNESS WHEREOF, we have hereunto set our hands this ___ day of _________ 2018
    in the__________.

    Borrower Holder

    SIGNED IN THE PRESENCE OF:


    __________________ __________________

    -ACKNOWLEDGMENT-
    Republic of the Philippines )
    ______ )
    x----------------------------------x
    Before Me, a Notary Public for the_________, Philippines, this ___ day of
    _____________, personally appeared, the above named persons who are known to me and to me
    known to be the same persons who executed the foregoing instruments where they acknowledged to
    me that the same is their free act and deed.

    Witness my hand and seal on this ____ day of ______________ at________.

    Doc No: ___


    Page No: ____ Notary Public
    Book No: ___
    Series of 2018

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