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    (Promissory Note Simple Form With Interest) Promissory Note

    Uploaded by

    Muli MJ

    Copyright:

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

    (Promissory Note Simple Form With Interest) Promissory Note

    Uploaded by

    Muli MJ
    63 views4 pages

    Original Title

    Promissory Note

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    © © All Rights Reserved

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    DOCX, PDF, TXT or read online from Scribd

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    63 views4 pages

    (Promissory Note Simple Form With Interest) Promissory Note

    Uploaded by

    Muli MJ

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    (Promissory Note Simple Form with Interest)

    PROMISSORY NOTE

    P_____________

    FOR VALUE RECEIVED, I promise to pay without


    need of demand to the order of MR. SINGH, at his
    office at 1252 Narra St. Pasay City, the principal
    amount of PESOS: FIFTY THOUSAND PESOS ONLY
    (P50,000.00), on or before OCTOBER 30, 2017. In
    addition to the foregoing, I promise to pay monthly
    interest at the rate of TWO PERCENT (2%) percent,
    without need of demand, starting from the month of
    JUNE 30, 2017 until this note is fully paid.

    May 1, 2017, Pasay City, Philippines.

    _____________

    Maker
    2

    PROMISSORY NOTE

    Date____________
    P_____________

    For value received, We jointly and solidarily promise to pay


    PAUTANGAN INC, (“Holder”), or order, without notice of demand, the
    principal sum of TWO MILLION Pesos (P2,000,000.00), subject to the following
    conditions.
    1. We shall pay TWO PERCENT (2%) per cent interest a month on
    principal of P2,000,000.00, or its remaining balance.
    2. We shall pay monthly installments of One Hundred Seventy
    Thousand Pesos (P170,000.00) every month, due and payable without need of
    notice or demand every 6th day of each month starting June 6, 2017, provided that a
    late payment penalty of Two Percent (2%) per month shall be added on each
    unpaid installment from due date thereof until fully paid.
    3. We hereby waive our rights to make application of payment under
    Article 1252 of the Civil Code of the Philippines especially in the case where we
    have more than one (1) obligation in favor of the Holder, regardless of the source
    and nature of the said obligation.
    4. We agree to authorize the Holder hereof to apply, at his option, any of
    our payments to any of the said amounts advanced by the Holder hereof for the
    aforesaid purposes.
    5. In case of breach or default by mus of any of the terms and conditions
    of this Note and it is placed in the hands of an attorney for collection, We agree to
    pay an additional sum equivalent to ten (10%) percent of the amount due as and for
    attorney’s fees, and the further sum of twenty (20%) percent as liquidated
    damages, in addition to costs and other expenses of litigation.
    6. Any action to enforce payments of this Note may be brought by the
    Holder at its sole option, in the proper court of Quezon City, Metro Manila.
    7. Acceptance by the Holder hereof of payment of any installment or any
    part hereof after due date shall not be considered as extending the time for the
    payment of any of the installments aforesaid or as a modification of any of the
    conditions thereof. Nor shall the failure of the Holder hereof to exercise any of its
    rights under this Note constitute or be deemed as a waiver of such rights.

    IN WITNESS WHEREOF, We have hereunto set our hands on this _____


    day of ________,20___ at ___________.

    ___________________ ______________________
    Holder Maker
    _____________________
    3

    Co-Maker

    WITNESSES:

    ________________________ ________________________

    ACKNOWLEDGMENT

    REPUBLIC OF THE PHILIPPINES)


    ) S. S.

    BEFORE ME, a Notary Public for ____________________________,


    personally appeared:

    Name Comm. Tax Date/Place


    Cert. No. Issued

    __________________ _____________ _____________

    __________________ _____________ _____________

    known to me and to me known to be the same persons who executed the foregoing
    Promissory Note which consists of _______( _____ ) pages, including this page in
    which the acknowledgment is written, signed by the parties and their instrumental
    witnesses at the spaces herein provided and acknowledged to me that the same is
    their free act and deed.

    IN WITNESS WHEREOF, I have hereunto set my hand and affixed my


    notarial seal on this ______ day of ___________, 20 _____ at
    ___________________.

    NOTARY PUBLIC
    Doc. No. _____;
    Page No. _____;
    Book No._____;
    Series of 2017.
    4

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