PN No.

: MF_K1_000000

1st Valley Bank, Inc.

PROMISSORY NOTE/CO-MAKERS STATEMENT

Date Granted: __________________________________

Type of Loan: __________________________________
Term/Period of Loan: ____________________________
Amount of Installment: __________________________

Maturity Date: _________________________________

Interest Rate: _______________________ (______ %)
Mode of Repayment: ____________________________

Date of installment: First Installment to fall due on _____________________________ and every ______________ thereafter until
the whole sum of the principal and interest shall have been fully paid. Penalty of ten percent (10%) shall be imposed per
day on the amount of missed amortization from date of default until fully paid.
This Note is secured by: Household Assets/__________________________

________________________________________ (_____) days after date, for value received, I/WE promise to pay jointly and
severally the 1st Valley Bank, Inc. at its office located at __________________________________________________________,
Philippines, the principal amount of ________________________________________________ (P______________) PESOS, Philippine
Currency.
I/WE hereby agree and authorize 1st Valley Bank, INC. to encumber, assign or sell to any person or entity any
right which may have under this Note and/or any assignment, mortgage lien, pledge or other encumbrances constituted in
favor of 1st Valley Bank, Inc. pursuant to the provisions of the loan agreement and this Note, if any the consent herein
granted is recognized and acknowledged by me/us as a waiver, to all intents and purposes of whatever right I/we may have
to notice of actual encumbrances or assignment.
Should a delay be made in the payment of an installment, a penalty of 10% per day on the amount of missed
amortization shall be imposed. When the arrearages reached 10% of the loan outstanding, the whole sum remaining unpaid
under this Note shall forthwith become due and demandable without need of further demand.
In the event that this Note is placed in the hands of an ATTORNEY for collection, the maker(s) and/or endorser(s)
shall pay ten percent(10%) of the total amount due, principal and interest included or in no case shall be less than P 500.00
as Attorneys Fee. In the event of litigation, we likewise agree to pay filing fees, liquidated damages and costs.
Further, I/WE jointly and severally empower and authorize 1st Valley Bank, Inc. the option, and without notice,
to set off or apply to the payment of this Note any and all funds which may be in their hands on deposit or otherwise
belonging to the corporation of one or anyone of us which may be in their possession or control by virtue of any other
contract.
DEMAND AND DISHONOR WAIVED. Holder may accept partial payment reserving his/her rights or recourse against
each and all endorsers.
VENUE OF ACTION. I/WE agree that any action arising in connection or by reason of this Note shall be filed
exclusively with the courts in Tubod, Lanao del Norte or any proper court where 1 st Valley Bank, Inc. has a branch at the
option of 1st Valley Bank.
I/WE hereby affix my/our signature(s) at _________________________________________________, Philippines, on
___________________________________.

MAKER (Principal Borrower)

MAKER (Co-Borrower)

Signature: ___________________________________________

Signature: _______________________________________________

Name in Print: ________________________________________

Name in Print:____________________________________________

Address: ____________________________________________

Address: _______________________________________________

____________________________________________

_______________________________________________

I agree to become a co-maker to this Promissory Note. I am aware of the responsibility which I will assume in signing such
a Note.

CO-MAKER 1
CO-MAKER 2
Signature: ___________________________________________

Signature: _______________________________________________

Name in Print:________________________________________

Name in Print: ____________________________________________

Address:_____________________________________________

Address:_________________________________________________

____________________________________________

________________________________________________

-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------FOR BANK USE ONLY

SIGNED IN THE PRESENCE OF:
_______________________________
Name and Signature of Witness

________________________________
Name and Signature of Witness

_______________________________
Address

________________________________
Address