CONTRACT OF LOAN

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LOAN made and executed this 30th day of May, 2010 by
and between:
REYNALDO L. CABREROS, of legal age, married, Filipino and with
residence and postal address at Danac-bunga, Botolan, Zambales,
hereinafter referred to as the CREDITOR;
-ANDHOMER S. GIMENA, of legal age, married, Filipino and with residence
and postal address at # 35 Sto. Rosario, Capas, Tarlac, hereinafter referred to
as the DEBTOR.
WITNESSETH;
WHEREAS, the DEBTOR came to the CREDITOR and stated the
intention of acquiring a vehicle which is necessary in his day-to-day routine
while working at STL (Small Town Lottery) situated at Iba, Zambales.
WHEREAS, the CREDITOR has offered to give the DEBTOR a loan to be
able to pay for the initial down payment in the purchase of such vehicle.
NOW THEREFORE, for and in consideration of the total sum of ONE
HUNDRED FIFTY THOUSAND PESOS ( PHP 150,000.00) Philippine
Currency, and of the Contract of Loan herein after set forth the CREDITOR
and the DEBTOR agrees to the following terms and conditions:
1. The total sum of ONE HUNDRED FIFTY THOUSAND PESOS (PHP
150,000.00) Philippine Currency is indebted on May 30, 2010 by
the DEBTOR TO THE CREDITOR.
2. The amount loaned is to be used as initial down payment for the
purchase of the vehicle 2005 Wagon series Isuzu Crosswind.
3. The indebted amount of the sum of ONE HUNDREF FIFTY THOUSAND
PESOS (PHP 150,000.00) is payable within a period of three (3)
years from the execution of this contract, with interest at the rate of
Six ( 6% ) percent per year.
4. The loan is due on the third (3rd) year from the execution of this
instrument and shall not be extended unless renewed by both
parties.
5. Upon full payment of the amount loaned, CREDITOR shall release
vehicles Official Receipt and Certificate of Registration (OR/CR) and
all the pertinent documents in favor of the DEBTOR.
IN WITNESS WHEREOF, the parties have hereunto affixed their signatures,
this 30th day of May 2010 at Olongapo City, Philippines.

REYNALDO L. CABREROS
GIMENA
(CREDITOR)

HOMER S.
(DEBTOR)

SIGNED IN THE PRESENCE OF:

____________________________

_____________________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
OLONGAPO CITY
) SS
BEFORE ME, a Notary Public, this ________ day of _______________
Personally appeared the following:
Name
Issued
Reynaldo L. Cabreros
Olongapo City
Homer S. Gimena
City

Drivers License Number

Expiration Date/Place

DL No. C06-94-007611 March 20, 2014 /LTO

DL No. C11-92-060560 May 12, 2012 / LTO Quezon

This instrument, consisting of Two (2) page/s, including the page on which
this acknowledgment is written, has been signed on the left margin of each
and every page thereof by the concerned parties and their witnesses, and
sealed with my notarial seal.
IN WITNESS WHEREOF, I have hereunto set my hand the day, year and place
above written.

Notary Public
Doc. No. ______;
Page No. ______;
Book No. ______;
Series of 20 ____.