PRINT ID : 25050969507867105519
PROMISSORY NOTE NUMBER : 0015228437
APPROVED LOAN AMOUNT : 60,000.00
TERM : 6 MONTHS
LOAN MATURITY : 2025-11-09
INTEREST RATE : 60.6
LOAN PURPOSE : Re-availment
PROMISSORY NOTE
FOR VALUE RECEIVED and for other valuable consideration, I/we, the Borrower/s, irrespective of number, ROSSANA
CORTES INOT, jointly and severally promise to pay to the order of BPI Direct BanKO, Inc., a Savings Bank (the “Bank”)
at its office BR10434 the sum of PESOS: SIXTY THOUSAND & 00 / 100 ONLY. (PHP 60,000.00), Philippine currency,
( the “Loan”) with interest rate of 5.05% per month payable in equal amortization of principal and interest
amounting to PHP 2688.46 over SIX( 6) months, in accordance with the Amortization Schedule set out in Annex “A”
forming part hereof, to commence SEVEN( 7) days from the date of the release of the loan proceeds, and every 7
days thereafter until the Loan is fully paid subject to the terms and conditions set out below.
TERMS AND CONDITIONS
1, Borrower/s confirm/s that he/she/they/it applied with the Bank for a Loan and signifies his/her/their/its full
agreement to these terms and conditions governing the Loan including amendments, extensions, or supplements
there to which, together with the Application Form and this Promissory Note and its annexes (collectively, the “
Loan Documents”) which as of date of signing, shall form an integral part hereof and constitute the Borrower/s’
entire agreement with the Bank.
2. The crediting of the Loan to (a) any of the Borrower/s’ designated deposit account with the Bank, Bank of the
Philippine Islands (BPI), BPI Family Savings Bank (BFB) or BPI Direct, and/or third party account upon written
authority of the Borrower/s, (b) issuance of checks payable to the Borrower/s or his/her/their/its nominated
payee, (c) payment/s made by the Borrower/s to the Bank, and (d) the Borrower/s’ outstanding loan appearing in
the books and records of the Bank shall be conclusive proof of the Borrower/s’ indebtedness to the Bank in the
absence of manifest error.
3. Payment shall be made through over-the-counter in any of the branches of the Bank or of the Bank’s accredited
partner outlet, cash pick-up, issuance of post-dated checks equal to the number of amortization payments as per
Amortization Schedule, via Automatic Debit Arrangement (ADA) from the deposit account of the Borrower/s or
by such other mode(s) of payment as may be allowed or authorized by the Bank. If the due date falls on a
Saturday, Sunday or non-working day, then the due date shall be moved to the next business day.
4. Borrower/s agree/s to pay late payment fee on any overdue sum at the rate and in accordance with the
schedule of penalties set out below The late payment penalty shall be added to each unpaid amortization
computed from due date until fully paid.
Payment Schedule Late Payment Penalty
Weekly 1.25% per week
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Sample Computation:
Loan amount with monthly amortization of PHP1,000. Repayment scheme is monthly.
Due Date Amortization Total Amortization Date of Payment Amount Paid Late Late Amount Due
Due for the Due by Borrower/s Payment Penalty Payment Inclusive of Late
Period on Amortization at Penalty Payment Penalty,
Due Date (5%) Previously if Any
Outstanding
(a) (b) (c) (d) (e=a-b+c+d)
March PHP 1,000 PHP 1,000 Unpaid PHP 0 PHP 50 PHP 0 PHP 1,050
April 1 PHP 2,000 PHP 2,000 Unpaid PHP 0 PHP 100 PHP 50 PHP 2,050
PHP 1,000 PHP 2,000 April 10 PHP 2,150 PHP 0 PHP 150 PHP 0
May 1 PHP 1,000 PHP 1,000 May 1 PHP 1,000 PHP 0 PHP 0 PHP 0
* This sample computation is for illustration purposes only. Payment schedule and computation will vary
depending on the actual rates, loan amount, amortization, and loan size
5. The Borrower/s shall pay the Bank a prepayment penalty equivalent to four percent (4%) of the outstanding
Loan balance in the event that the Borrower/s pay/s the entire Loan before loan maturity. In case the Borrower/s
pay/s the Bank an amount more than the relevant amortization set out in the Amortization Schedule (the “excess
payment”), the Borrower/s shall pay the Bank a prepayment penalty equivalent to four (4) percent of the said
excess payment.
6. Payments shall be applied in the following order of priority: (a) expenses for referral/legal recourse, which include
but are not limited to, cost of suit, litigation expenses and attorney’s fees; (b) any advances made by the Bank; (c)
late payment penalty and/or prepayment penalty, if any; (d) interest; and (e) principal of the Loan.
7. The Borrower/s represent/s and warrant/s, upon the execution of the Loan Documents, the following:
a) That the Borrower/s has/have full legal right, power and authority to carry on his/her/their/its present business,
to own his/her/their/its properties and assets, to incur the indebtedness and other obligations provided for in the
Loan Documents; and to comply with and perform the terms and conditions hereof;
b) That the Borrower/s is/are not subject to any pending or threatened litigation or administrative investigation or
proceeding which would materially or adversely affect the Borrower/s’ right or ability to carry on his/her/their/its
business or its operations;
c) That the Borrower/s is/are not in default in the performance of any obligation with any person, corporation,
governmental or financial institutio
8. The Borrower/s agree/s that effective upon his/her/their/its default, the Bank may, in its absolute discretion at any
time and without notice, offset his/her/their/its obligations against the Borrower/s’ interest on any deposits, funds,
securities, properties and things of value on deposit or otherwise to the credit of or belonging to the Borrower/s,
whether singly or jointly with another, and that are now or may hereafter be in the possession, custody or control
of the Bank or any member of the BPI Group of Companies such as but not limited to BPI, BFB, BPI Direct, BPI
Securities Corporation, BPI Capital Corporation, and BPI Century Tokyo Lease and Finance Corporation (the “BPI
Group of Companies”), their subsidiaries and affiliates and apply said payment against any amounts due and
payable from the Borrower/s. For this purpose, the Borrower/s hereby expressly waives his/her/their/its rights
under confidentiality and data privacy laws in the Philippines and of other jurisdictions including but not limited to
: (a) Republic Act (RA) No. 1405 or the Law on the Secrecy of Bank Deposits; (b) RA No. 6426 or the Foreign
Currency Deposit Act; (c) RA 8791 or the General Banking Law; and (d) RA 10173 or the Data Privacy Act, and
expressly and irrevocably authorizes the disclosure, processing and/or sharing by the Bank with any member of
the BPI Group of Companies, their subsidiaries or affiliates, service providers, authorized representatives and
agents of any information relating to the Borrower/s, his/her/their/its deposits, funds, securities, properties and
things of value in their possession, custody or control.
9. Any collateral which may now or in the future secure the loan of the Borrower/s with any member of the BPI
Group of Companies, their subsidiaries and affiliates shall likewise secure this Loan to the extent applicable and
allowed by law, and all acts and deeds performed or executed by the Bank in furtherance of or to give effect to
the foregoing are hereby fully and unconditionally authorized and ratified by the Borrower/s.
10. In consideration of this Loan and upon the happening of any of the Events of Default, the Borrower/s has/have
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authorized and constituted the Bank as its lawful attorney-in-fact through an irrevocable special power of
attorney to sell personal property/ies subject to the terms and conditions specified on the reverse side of this
document.
11. Where applicable and while there is an outstanding loan obligations under the Loan Documents, the Borrower/s
shall not permit any indebtedness to be secured by or benefit from any pledge, mortgage, charge, encumbrance, title
retention or other security arrangement upon, in or with respect to any of its real property assets listed below:
Title No./Registry Location Registered Owner/s Technical Description
of Deeds
12. The following shall constitute an Event of Default:
a) The Borrower/s fail/s to pay when due and payable any amount which the Borrower/s is/are obligated to pay
the Bank under the Loan Documents;
b) Failure by the Borrower/s to comply with or perform any of the terms and conditions contained in the Loan
Documents or any other agreement between the Borrower/s and the Bank;
c) Any material representation or warranty made by the Borrower/s herein or otherwise in connection herewith
shall prove to have been untrue, incorrect or misleading as of the time it was made or deemed to have been made
d) The Borrower/s voluntarily suspend/s or cease/s operations of his/her/their/its usual business or becomes
insolvent or is unable to pay its debts when due or commits or permits any act of bankruptcy;
e) Any final judgment or decree for a sum of money, damages or for a fine or penalty is entered against the
Borrower/s by a court of competent jurisdiction and is not paid, discharged or fully bonded within fifteen (15) days
after the date when payment of such judgment or decree is due under applicable laws;
f) The Borrower/s die/s, is/are incapacitated or is convicted of a criminal offense with final judgment carrying
with it a penalty of civil interdiction affecting the Borrower/s, or in any of the cases covered by Article 1198 of the
New Civil Code of the Philippines;
g) The Borrower/s’ failure to pay when due and payable any amount which the Borrower/s may now or hereafter
owe the Bank, or any member of the BPI Group of Companies, their subsidiaries or affiliates, or any third party,
whether as principal or guarantor or surety;
h) There shall have occurred a material change in the financial circumstances or condition of the Borrower/s
which, in the reasonable opinion of the Bank, would adversely affect the ability of the Borrower/s to perform the
obligations under the Loan Documents.
13. If any Event of Default shall have occurred, then the Borrower/s’ entire obligations and liability(ies) under the
Loan Documents shall immediately become due and payable without the necessity of notice and demand. Further,
the Bank shall have the following rights and remedies:
a) Declare the Loan to be terminated, whereupon, the obligation of the Bank to make or maintain the Loan
hereunder shall forthwith terminate;
b) Declare the entire unpaid principal amount of the Loan then outstanding, all interest accrued and unpaid
thereof and all other amounts payable hereunder and the Loan Documents to be forthwith due and payable,
whereupon all such amounts shall become and be forthwith due and payable without presentment, demand,
c) Proceed against the collateral, if any, of the Borrower/s with the Bank or with any member of the BPI Group of
Companies, their subsidiaries and affiliates;
d) Proceed against the Borrower/s and to take such other steps or actions against the Borrower/s, judicial or
extrajudicial, as the Bank may deem necessary and proper for the full protection or enforcement of its rights and
remedies.
14. The rights and remedies given hereby are in addition to all others however arising. No action, failure to act or
knowledge on the part of the Bank shall be deemed to constitute a waiver of any power, right or remedy hereunder,
nor shall any single or partial exercise thereof preclude any further exercise of any other power, right or remedy. The
Bank shall not be liable for exercising or failing to exercise any power, right or remedy.
15. The Borrower/s shall indemnify and hold the Bank free and harmless and indemnified from and against any and
all consequences which may arise or result from this Loan or in connection with the performance of its obligations
under this Loan.
16. Each of the rights, powers and remedies granted to the Bank by this Promissory Note shall be in addition to all
other rights, powers and remedies given to the Bank by virtue of any other contract, statute or rule of law or equity.
17. If the Bank is compelled to seek judicial relief against the Borrower/s by reason of the Borrower/s’ breach of its
obligations under this Promissory Note and the Loan Documents, the Borrower/s shall, in addition to any other
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damages awarded by the court, pay to the Bank an amount equivalent to twenty five percent (25%) of the amount
due but in no case less than PESOS: Ten Thousand (P10,000.00) as and by way of attorney’s fees, aside from the
costs and expenses incurred by the Bank in the enforcement of this Promissory Note.
18. The Borrower/s hereby expressly waives his/her/their/its rights and powers under Sec. 13, Rule 39 of the
Rules of Court. This Promissory Note shall be governed by and construed in accordance with the laws of the
Philippines. Any legal action shall be brought exclusively in Makati City or San Juan City or, at the option of the Bank,
in any place where the Bank has a branch or office.
19. In case any provision of this Promissory Note shall be declared by a competent court or authority to be
invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of any other provision herein
shall not in any way be affected or impaired thereby.
20. Borrower/s agree/s that the following fees and charges such as, but no limited to (a) processing fee, (b)
service fee, (c) applicable documentary stamp tax, and (d) such other fees and charges which the Bank, Bangko
Sentral ng Pilipinas or other government agency may hereafter legally impose in relation to the Loan, shall be for the
Borrower/s’ account.
21. Borrower/s agree/s that any instructions sent or purportedly sent to the Bank through SMS, fax, email, any
bank channel or any other electronic means shall be valid and binding upon the Borrower/s. The Borrower/s confirm/
s that (a) the Bank shall have the right (but not the obligation) to act on such instructions or documents and/or take
steps in connection therewith or in reliance thereupon as the Bank may in good faith determine, and (b) the Bank
may further use said communication or documents transmitted by SMS, fax, email, any Bank channel or other
electronic means as evidence in a court of law. Borrower/s likewise agree/s to receive updates, notices and
announcements regarding his/her/their/its Loan, via SMS/text, email or such other means of communication deemed
appropriate by the Bank.
22. I/We affirm to have read and understood this form. In addition, all the foregoing statements were very well
explained to me/us by the representative of the Bank which enabled me/us to fully comprehend my/our obligations
09 day of May, 2025 in
23. The Bank is authorized to release the Loan proceeds in any of the following manner:
( ) Credit to SA/CA No.180017386989 maintained at the Bank/BPI/BFB/BPI Direct;
( ) Issue check payable to the following payee
( ) Deposit to an account maintained with other bank(s) with the following details:
24. By signing below, I/we affirm that all blank spaces in the Promissory Note have been correctly and
completely filled out.
BORROWER/S:
Signature over Printed Name Signature over Printed Name
WITNESSES:
Signature over Printed Name Signature over Printed Name
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BPI DIRECT BANKO, INC., A Savings Bank
DISCLOSURE STATEMENT ON LOAN/CREDIT TRANSACTION
(As required Under R.A. 3765, Truth in Lending Act)
NAME OF BORROWER: ROSSANA CORTES INOT
ADDRESS: TERNATE PUBLIC MARKET , Ternate , Cavite , Luzon
1. LOAN GRANTED (Amount to be financed) 60,000.00 (A)
2. FINANCE CHARGES:
Not Deducted Deducted
From From
Loan Proceeds
a. Contractual Interest 60.60% p.a.
from 2025-05-09 to 2025-11-09 P 9,899.96 P
Weekly Bi-monthly (every 2 weeks) Monthly Once
b. Processing Fee 2,500.00
c. Service Fee 0.00
d. Other Charges : 0.00
Total Finance Charges: P P 2,500.00 (B)
3, NON-FINANCE CHARGES
a. Insurance Premium P P 233.40
b. Taxes 0.00
c. Documentary Stamps 225.00
d. Notarial Fees 0.00
e. Insurance Fee 55.00
f. Collateral registration Fee 0.00
g. Cash Pickup Fee 0.00
h. Other Charges : 0.00
i. Motorized Collector's Fee 750.00
Total Non-Finance Charges: P P 1,263.40 (C)
4. TOTAL DEDUCTIONS FROM PROCEEDS OF LOAN (B P 3,763.40 (D)
5. NET PROCEEDS OF LOAN (A less D) P 56,236.60
6. PERCENTAGE OF FINANCE CHARGES TO TOTAL AMOUNT FINANCED
(computed in accordance with Sec. 2(i) of CB Circular 158) 79.60 % P.
7. EFFECTIVE ANNUAL INTEREST RATE 133.2 % P.
8. SCHEDULE OF PAYMENT
a. First payment due on 2025-05-16 and every 7 days thereafter
(Date) (Frequency)
b. Total installment payments P 69,899.96
Payable in 26 (number/year) at 2,688.46 each installment
(no. of payments)
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9. COLLATERAL
This loan is wholly/partly secured by (refer to collateral section of the document for further details)
real estate chattels UNSECURED
10. ADDITIONAL CHARGES IN CASE CERTAIN STIPULATIONS ARE NOT MET BY THE BORROWER
NATURE AMOUNT
a. Late payment fee 1.25% per week of the unpaid weekly
amortization, 2.5% per bi-month (every 2
weeks) of the unpaid bi-monthly (every 2
weeks) amortization, 5% per month of the
unpaid monthly amortization. 5% per month
of the total unpaid amount
b. Pre-payment penalty fee 4% of the outstanding Loan balance
if fully paid prior to maturity or 4% of the
outstanding balance prepaid
c. Attorney’s fees (exclusive of collection 25% of the total amount due, but in no
expenses and cost of suit) case less than P10,000.00
CERTIFIED CORRECT
Signature of Creditor/Authorized Representative Over Printed Name
Position:
I/WE ACKNOWLEDGE RECEIPT OF A COPY OF THIS STATEMENT PRIOR TO THE CONSUMMATION OF THE CREDIT
TRANSACTION AND I/WE UNDERSTAND FULLY AND AGREE TO THE TERMS AND CONDITIONS THEREOF.
Signature of Borrower over Printed Name
DATE:
Signature of Co-Borrower over Printed Name
DATE:
NOTICE TO THE BORROWER: YOU ARE ENTITLED TO A COPY OF THIS PAPER WHICH YOU SHALL SIGN.
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ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES }
-------------------- }S.S.
BEFORE ME, a Notary Public in and for , Philippines, personally appeared:
Name CTC No. and Government Expiry Date/Place & Date
Issued ID of Issue
who are personally known to me and to me known to be the same person(s) who executed the foregoing
The foregoing document is a PROMISSORY NOTE which consists of ( ) pages including the
page whereon this Acknowledgment is written. This Acknowledgment forms an integral part of the said document.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed hereof my notarial seal this day
of 201 , at , Philippines.
NOTARY PUBLIC
My Commission Expires on
Commission Serial No.
Place of Commission
Office Address
Roll No. IBP No.
PTR No. Place Date
Doc. No.
Page No.
Book No.
Series of 201 .
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ANNNEX A
Amortization Table - Schedule Behavior
No. Due Date Scheduled Payment Interest Principal Balance
0 60,000.00
1 2025-05-16 2,688.46 697.32 1,991.14 58,008.86
2 2025-05-23 2,688.46 674.17 2,014.29 55,994.57
3 2025-05-30 2,688.46 650.76 2,037.70 53,956.87
4 2025-06-06 2,688.46 627.08 2,061.38 51,895.49
5 2025-06-13 2,688.46 603.13 2,085.33 49,810.16
6 2025-06-20 2,688.46 578.89 2,109.57 47,700.59
7 2025-06-27 2,688.46 554.37 2,134.09 45,566.50
8 2025-07-04 2,688.46 529.57 2,158.89 43,407.61
9 2025-07-11 2,688.46 504.48 2,183.98 41,223.63
10 2025-07-18 2,688.46 479.10 2,209.36 39,014.27
11 2025-07-25 2,688.46 453.42 2,235.04 36,779.23
12 2025-08-01 2,688.46 427.45 2,261.01 34,518.22
13 2025-08-08 2,688.46 401.17 2,287.29 32,230.93
14 2025-08-15 2,688.46 374.59 2,313.87 29,917.06
15 2025-08-22 2,688.46 347.69 2,340.77 27,576.29
16 2025-08-29 2,688.46 320.49 2,367.97 25,208.32
17 2025-09-05 2,688.46 292.97 2,395.49 22,812.83
18 2025-09-12 2,688.46 265.13 2,423.33 20,389.50
19 2025-09-19 2,688.46 236.97 2,451.49 17,938.01
20 2025-09-26 2,688.46 208.47 2,479.99 15,458.02
21 2025-10-03 2,688.46 179.65 2,508.81 12,949.21
22 2025-10-10 2,688.46 150.49 2,537.97 10,411.24
23 2025-10-17 2,688.46 121.00 2,567.46 7,843.78
24 2025-10-24 2,688.46 91.16 2,597.30 5,246.48
25 2025-10-31 2,688.46 60.97 2,627.49 2,618.99
26 2025-11-09 2,688.46 69.47 2,618.99 0.00
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