Collateral Agreement: % Per Month
Collateral Agreement: % Per Month
THIS AGRREMENT, made this 21st day of April, 2021 in the year 202, by and between
JOSE NAVARRO TAROMA of legal age, with postal address at POBLACION ANAO, TARLAC
hereinafter known as the DEBTOR and PRINCESS KAYE M. LIM of legal age, with postal address
at CASILI ANAO, TARLAC hereinafter known as the CREDITOR, witnesseth:
That the DEBTOR is indebted unto the CREDITOR in the sum of (THREE HUNDRED
FIFTY THOUSAND PESOS) (350,000.00), Philippine Currency, receipt of which is
acknowledged by the CREDITOR upon the signing of this instrument, payable within a period of
6 months, with interest thereon at the rate of 4 % per month;
COLLATERAL
The hereby agrees to provide the Secured Party with full right and title of ownership to
the following property as collateral to secure the debt listed above:
MAKE: TOYOTA
ENGINE NO: 2GDC373850
SERIES: FORTUNER 2.4L4
CHASIS NO. MHFGB8GS0J0874949
TYPE OF BODY: SUV
PLATE NO: CAM5849
YEAR MODEL: 2018
FILE NO: 0301-00000805189
TERMS
1. The Debtor warrants that no other Creditor has right to ownership of the listed
collateral that may interfere with the Secured Party’s ability to take and profit from
the sale of said property in the event that the above listed debts are not repaid.
2. The Debtor warrants that they are the rightful legal owner of the listed collateral.
3. The Debtor agrees to notify the Secured Party of any changes to their contact
information or physical address.
4. The Debtor agrees not to sell or transfer ownership of the property listed in this
collateral agreement until their debt to the Secured Party has been fully resolved.
5. Should the Debtor default on the above listed debt, the Secured Party shall have the
right to seize the listed collateral and resell it to recoup their lost investments.
ACCEPTANCE
IN WITNESS WHEREOF, the parties have hereunto set their hands, this 21 st day of April
2021 at Casili, Anao, Tarlac, Philippines.
_______________________________ _______________________________
ACKNOWLEDGEMENT
Known to me and to me known to be the same persons who executed the foregoing instrument
and acknowledged to me that the same is their free and voluntary act and deed.
WITNESS MY HAND AND SEAL, on the date and place first above written.
Notary Public
Doc. No.______;
Page No. ______;
Book No.______;
Series of 20____.