Cooperative Loan Application

LOAN APPLICATION FORM

All Saints Credit Cooperative

#511 FOYAYENG, BONTOC, ILI, Bontoc, Mt. Province

(NOTE: FILL UP PROPERLY AND WRITE LEGIBLY. FILL UP ALL NECESSARY INFORMATION/S. INCOMPLETE INFORMATION WILL DELAY THE PROCESSING OF THE LOAN.)

Kind of Loan (Select 1)

Date of Application:

I. Applicant's Personal Information

Name of Applicant: Contact No.

Present Address:

Business Address/Agency Address:

Purpose/s of the Loan:

I further certify that the above statements are true and correct and that in case of misrepresentation, the Cooperative has the right to demand the full balance of my loan including all charges attached thereto and may further result to the termination of my membership.

II. Co-MAKER'S INFORMATION

We/I hereby co-make guaranty the prompt and full payment of this loan and further bind ourselves/myself directly liable should the borrower/maker fail to pay his/her loan under the provisions of this Art. 2047 of the Civil Code of the Philippines up to the amount we/I have pledge on the promissory note attached to this application.

FOR OFFICIAL USE ONLY

ACTION ON THE APPLICATION

Approved the Amount of pesos (P )

Disapproved Due to:

CREDIT ASSESSMENT/VALIDATION

(TO BE FILLED-UP BY THE MEMBER/CLIENT)

I acknowledge that I am indebted to the following creditors aside from ASCCO with the corresponding amounts.

Certified Correct By:

(TO BE FILLED-UP BY THE LOAN OFFICER/ACCOUNTING CLERK)

This is to Certify that the MAKER/BORROWER/MEMBER and his/her corresponding CO-MAKER/S of this Loan application have the following account balances with this Credit Cooperative.

Further, the member-borrower/maker and Co-maker has the following obligations with this Coop.

Moreover, the member-borrower has the following outstanding balances as of date of application for reference.

Other Comments/Recommendations:

I further certify that the above assessment and validation are based on records and performance the the member-borrower/maker and have been further verified to be true and correct to the best of my knowledge.

Prepared By:

PROMISSORY NOTE

For the value received, I/We jointly & severally promise to pay the All Saints Credit Cooperative or order, the sum of (P ) to be paid on a daily/monthly/quarterly/semi-annually/annually for a period of (days/months/quarters/years);

with the first installment due to be paid on of each month/quarter/year and every/day/month/quarter/year the same amount thereafter until the loan amount is fully paid.

Unpaid installment due shall be subjected to 1.5% interest rate and 1% surcharge per month for every installment due after a grace period of fifteen (15) days.

In addition to my Share Capital, Supplemental/Time Deposit/s, MAP benefits, and other benefits accruing to me, I offer the following as a security to this loan as evidenced by:

In case three (3) consecutive amortizations for monthly, two (2) for quarterly, and one (1) for semi-annual is/are in default, the whole amount of the loan balance shall be due and demandable at the option of the holder.

Further, in case the said security/ies stated above shall be applied, surcharges/fines or other legal expenses shall be prioritized over the principal loan.

In case of judicial execution of this note or any part of it, the debtor waives his rights under the provisions of the Rule 3 Section 13 and Rule 39 Section 12 of the Rules of Court.

Each of the undersigned whether the Maker or the Co-Maker/s agree to remain fully bounded on each amount committed to be paid. For the Maker, the full amount of the loan and for the Co-maker/s, the amount committed/pledged to be paid in case the maker fails to fully settle the obligation after all efforts of collection had been exerted or upon proof of insolvency, bankruptcy.

It is further agreed by the party hereto, that in case payment shall not be made at maturity, the Maker shall pay the actual cost of collection and other legal fees to include Attorney's fees of not more than Ten Percent (10%) of the amount collectible.

As evidenced by our willful and capacity to pay, I/We hereby sign this note and fully agree to abide by the terms and conditions as well as on the existing credit policies of the Coop at the time of signing this note.